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WHA.AS$20.65-0.72%
Fair $20.65+0.0%

WHA.AS

Wereldhave N.V.

Real Estate / REIT - RetailAmsterdam

$20.65

-0.15 (-0.72%)

Fairly Valued+0.0%Fair Value $20.65Fund rank 37/100 · Data gapFallback financials|
SA 33/D
F-Score: 4/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

FCF escenarios

weak_data · normalized FCF n/d · quality 30.0/100

Data gap 37/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 93/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

33/100

D

Piotroski

4/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific NAV/AFFO model required: REIT/real-estate targets are disabled until FFO/AFFO/NAV/cap-rate data exists. REIT NAV/AFFO valuation requires positive AFFO/share history or TTM AFFO/share; generic FCF remains disabled.
Thesis & Journal · WHA.ASLocal privado en este navegador · Wereldhave N.V.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$958M

P/E

12.9x

↑

EV/EBITDA

13.8x

↑

ROE

6.7%

↑

Gross Margin

71.6%

↑

Debt/Equity

1.05

↑
52-Week Range$21
$17$23

TradingView lightweight chart

WHA.AS price, volumen y niveles de valoración

Último $20.65Periodo -73.1%
Fair value: $20.65

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

+9.9%

FCF CAGR

+16.2%

FCF margin

48.4%

FCF / Net income

1.42x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $215.9M · net income $73.3M · FCF $104.5M

2022-FY → 2025-FY

Gross margin

71.6%+0.8% pts

Operating margin

64.9%+4.8% pts

Net margin

34.0%-1.2% pts

FCF margin

48.4%+7.5% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$215.9M$215.9M$192.1M$184.2M$162.7M
Net Income$73.3M$73.3M$115.8M$79.4M$57.3M
EBITDA$143.9M$143.9M$174.2M$121.9M$102.3M
EPS1.601.602.651.971.43
Gross Margin71.6%71.6%72.0%68.6%70.8%
Operating Margin64.9%64.9%64.7%58.5%60.1%
Net Margin34.0%34.0%60.3%43.1%35.2%
Balance Sheet
Debt/Equity1.051.050.931.000.99
Current Ratio0.770.77———
Cash Flow
Free Cash Flow$104.5M$104.5M$92.2M$81.4M$66.5M
Returns
ROE6.7%6.7%11.3%8.2%6.5%
Valuation
P/E12.9112.915.347.429.37
EV/EBITDA13.7913.798.9212.5113.66
P/B0.870.870.600.610.61
Growth & Yield
Revenue Growth12.4%12.4%4.3%13.2%—
EPS Growth-39.6%-39.6%34.5%37.8%—
Dividend Yield6.3%6.3%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

4.6%

fácil

EPS terminal req.

$1.83

Spread vs growth

-44.2%

5Y implied EPS CAGR

6.7%

razonable

EPS terminal req.

$2.22

Spread vs growth

-46.4%

10Y implied EPS CAGR

8.4%

razonable

EPS terminal req.

$3.57

Spread vs growth

-48.0%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +24.1%

Total return

+24.1%

Start / end P/E

6.6x → 12.9x

EPS bridge

2.65 → 1.60

Residual

-37.7%

EPS growth-39.6%
Multiple rerating+95.2%
Dividend+6.3%
Residual / FX / buybacks / cross-term-37.7%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.