WDP Stock Analysis: Warehouses de Pauw Comm VA | BR
REIT - Industrial | BR, Belgium | Market Cap: 4.670m EUR | 12M Return: -8.1% | BE0974349814 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.6M
EPS Trend: 88.6%
Qual. Beats: 0
Rev. Trend: 99.1%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Warehouses De Pauw SA (WDP) is a Belgian real estate company that develops and invests in logistics warehouses and offices, operating as an Industrial REIT. The company maintains an international portfolio of semi-industrial and logistics buildings spread across more than 350 sites in prime logistics locations throughout Belgium, the Netherlands, France, Luxembourg, Germany, and Romania. Founded on May 27, 1977, and headquartered in Belgium, WDP generates revenue primarily through long-term leases with logistics, distribution, and e-commerce tenants.
As an Industrial REIT, WDP benefits from the structural growth in logistics demand driven by e-commerce expansion and supply chain modernization, with its business model centered on owning and leasing high-quality warehouse assets at strategic distribution hubs across Europe.
- Logistics occupancy rates and like-for-like rental growth accelerate
- Interest rate cuts reduce debt costs and lift property valuations
- E-commerce reshoring drives sustained European warehouse leasing demand
| Net Income: 401.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -1.16 > 1.0 |
| NWC/Revenue: -38.74% < 20% (prev -114.0%; Δ 75.27% < -1%) |
| CFO/TA 0.04 > 3% & CFO 343.2m > Net Income 401.4m |
| Net Debt (3.71b) to EBITDA (479.1m): 7.73 < 3 |
| Current Ratio: 0.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (237.6m) vs 12m ago 3.97% < -2% |
| Gross Margin: 81.78% > 18% (prev 86.84%; Δ -5.06% > 0.5%) |
| Asset Turnover: 6.21% > 50% (prev 5.57%; Δ 0.64% > 0%) |
| Interest Coverage Ratio: 5.54 > 6 (EBIT TTM 470.1m / Interest Expense TTM 84.9m) |
| A: -0.02 (Total Current Assets 66.3m - Total Current Liabilities 280.0m) / Total Assets 9.18b |
| B: 0.02 (Retained Earnings 186.6m / Total Assets 9.18b) |
| C: 0.05 (EBIT TTM 470.1m / Avg Total Assets 8.88b) |
| D: 1.21 (Book Value of Equity 5.02b / Total Liabilities 4.16b) |
| Altman-Z'' = 1.54 = BB |
| DSRI: 0.73 (Receivables 46.7m/55.1m, Revenue 551.5m/477.8m) |
| GMI: 1.06 (GM 86.84% / 81.78%) |
| AQI: 1.00 (AQ_t 0.97 / AQ_t-1 0.97) |
| SGI: 1.15 (Revenue 551.5m / 477.8m) |
| TATA: 0.01 (NI 401.4m - CFO 343.2m) / TA 9.18b) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of October 14, 2026, the stock is trading at EUR 19.30 with a total of 434,101 shares traded. Over the past week, the price has changed by +0.00%, over one month by -8.01%, over three months by -11.47% and over the past year by -8.06%.
Current recommended Stop Loss: 18.70 (which is 3.1% or 1.6 ATR below the current price).
Warehouses de Pauw Comm VA has no consensus analysts rating.
P/E Trailing = 11.5569
P/E Forward = 12.1803
P/S = 8.2325
P/B = 0.9956
P/EG = 3.5136
Revenue TTM = 551.5m EUR
EBIT TTM = 470.1m EUR
EBITDA TTM = 479.1m EUR
Long Term Debt = 3.24b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 280.0m EUR (from shortTermDebt, last quarter)
Debt = 3.72b EUR (from shortLongTermDebtTotal, last quarter) + Leases 183k
Net Debt = 3.71b EUR (calculated: Debt 3.72b - CCE 19.6m)
Enterprise Value = 8.37b EUR (4.67b + Debt 3.72b - CCE 19.6m)
Interest Coverage Ratio = 5.54 (Ebit TTM 470.1m / Interest Expense TTM 84.9m)
EV/FCF = 26.02x (Enterprise Value 8.37b / FCF TTM 321.9m)
FCF Yield = 3.84% (FCF TTM 321.9m / Enterprise Value 8.37b)
FCF Margin = 58.37% (FCF TTM 321.9m / Revenue TTM 551.5m)
Net Margin = 72.78% (Net Income TTM 401.4m / Revenue TTM 551.5m)
Gross Margin = 81.78% ((Revenue TTM 551.5m - Cost of Revenue TTM 100.5m) / Revenue TTM)
Gross Margin QoQ = 87.25% (prev 76.63%)
Tobins Q-Ratio = 0.91 (Enterprise Value 8.37b / Total Assets 9.18b)
Interest Expense / Debt = 2.28% (Interest Expense 84.9m / Debt 3.72b)
Taxrate = 11.53% (52.3m / 453.7m)
NOPAT = 415.9m (EBIT 470.1m * (1 - 11.53%))
Current Ratio = 0.24 (Total Current Assets 66.3m / Total Current Liabilities 280.0m)
Debt / Equity = 0.74 (Debt 3.72b / totalStockholderEquity, last quarter 5.02b)
Debt / EBITDA = 7.73 (Net Debt 3.71b / EBITDA 479.1m)
Debt / FCF = 11.51 (Net Debt 3.71b / FCF TTM 321.9m)
Total Stockholder Equity = 5.01b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.52% (Net Income 401.4m / Total Assets 9.18b)
RoE = 8.01% (Net Income TTM 401.4m / Total Stockholder Equity 5.01b)
RoCE = 5.70% (EBIT 470.1m / Capital Employed (Equity 5.01b + L.T.Debt 3.24b))
RoIC = 4.54% (NOPAT 415.9m / Invested Capital 9.16b)
WACC = 3.81% (E(4.67b)/V(8.39b) * Re(5.24%) + D(3.72b)/V(8.39b) * Rd(2.28%) * (1-Tc(0.12)))
Discount Rate = 5.24% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.57 | Cagr: 3.59%
[DCF] Terminal Value 73.10% ; FCFF base≈353.4m ; Y1≈310.0m ; Y5≈250.4m
[DCF] Fair Price = 1.30 (EV 4.02b - Net Debt 3.71b = Equity 314.6m / Shares 241.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 88.58 | EPS CAGR: 21.62% | SUE: -0.67 | # QB: 0
Revenue Correlation: 99.12 | Revenue CAGR: 16.24% | SUE: 0.88 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.42 | Chg30d=+2.44% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.60 | Chg30d=-0.03% | Revisions=+25% | GrowthEPS=+4.8% | GrowthRev=+9.5%
EPS next Year (2027-12-31): EPS=1.70 | Chg30d=-0.15% | Revisions=+25% | GrowthEPS=+5.7% | GrowthRev=+9.8%
[Analyst] Revisions Ratio: +17% (up=2, down=1)