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Wereldhave NV
(WHA)
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Rating:61Neutral
Price Target:
€17.50
▼(-5.10% Downside)
Action:Downgraded
Date:08/06/26
The score is primarily supported by improved financial performance and strong/free cash flow growth, plus an attractive dividend yield with a moderate P/E. These positives are tempered by balance-sheet leverage risk and weak technical signals, with the stock trading below major moving averages and showing negative momentum indicators.
Positive Factors
Revenue Recovery
The return to revenue growth over three consecutive years indicates improving demand and operating momentum after the earlier downturn. For a retail property owner, stronger rental income can support occupancy, tenant relationships, reinvestment in centers, and more resilient recurring cash generation.
Negative Factors
Elevated and Rising Leverage
Debt roughly matching equity and rising further in 2025 increases financial risk and reduces flexibility for a property company. If property values or financing costs move unfavorably, higher leverage could constrain redevelopment, distributions, refinancing options, and the capacity to absorb operating pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The return to revenue growth over three consecutive years indicates improving demand and operating momentum after the earlier downturn. For a retail property owner, stronger rental income can support occupancy, tenant relationships, reinvestment in centers, and more resilient recurring cash generation.
Read all positive factors
Wereldhave NV (WHA) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€810.65M
Dividend Yield7.5%
Average Volume (3M)90.43K
Price to Earnings (P/E)12.0
Beta (1Y)0.64
Revenue Growth10.18%
EPS Growth-26.93%
CountryNL
Employees122
SectorGeneral
Sector StrengthN/A
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.45
Shares Outstanding46,896,748
10 Day Avg. Volume83,776
30 Day Avg. Volume90,433
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)0.81
Price to Sales (P/S)4.08
P/FCF Ratio8.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.81
Revenue Forecast (FY)€192.17M
Wereldhave NV Business Overview & Revenue Model
Company Description
At Wereldhave, we are fundamentally reshaping the retail center experience. Our properties function as vibrant community destinations, extending beyond traditional shopping to encompass spaces for working, unwinding, and socializing with loved one...
How the Company Makes Money
Wereldhave primarily makes money by owning and leasing retail properties. Its main revenue stream is rental income paid by tenants (retailers and service providers) under lease contracts; this typically includes base rent and may also include vari...
Wereldhave NV Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
56
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 223.50M | 215.86M | 192.12M | 184.16M | 162.67M | 190.77M |
| Gross Profit | 155.90M | 154.50M | 138.42M | 126.42M | 120.72M | 124.67M |
| EBITDA | 144.94M | 143.94M | 174.16M | 108.47M | 97.01M | 105.99M |
| Net Income | 67.31M | 73.34M | 115.84M | 79.42M | 57.27M | -226.25M |
Balance Sheet | ||||||
| Total Assets | 2.59B | 2.64B | 2.36B | 2.28B | 2.10B | 2.04B |
| Cash, Cash Equivalents and Short-Term Investments | 11.36M | 105.56M | 18.32M | 25.54M | 14.35M | 26.77M |
| Total Debt | 1.09B | 1.12B | 953.14M | 960.46M | 873.27M | 833.16M |
| Total Liabilities | 1.27B | 1.30B | 1.09B | 1.08B | 974.81M | 941.96M |
| Stockholders Equity | 1.07B | 1.09B | 1.02B | 964.48M | 885.68M | 866.82M |
Cash Flow | ||||||
| Free Cash Flow | 97.18M | 104.47M | 92.18M | 81.41M | 66.52M | 80.00M |
| Operating Cash Flow | 97.28M | 104.64M | 92.36M | 82.55M | 66.60M | 80.41M |
| Investing Cash Flow | -21.45M | -147.74M | -39.40M | -98.64M | -56.52M | 350.01M |
| Financing Cash Flow | -89.50M | 130.34M | -60.19M | 27.29M | -22.49M | -470.65M |
Wereldhave NV Technical Analysis
Neutral
18.44
Price Trends
17.73
Negative
18.51
Negative
19.42
Negative
Market Momentum
-0.09
Negative
49.84
Neutral
77.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:WHA, the sentiment is Neutral. The current price of 18.44 is above the 20-day moving average (MA) of 17.05, above the 50-day MA of 17.73, and below the 200-day MA of 19.42, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 49.84 is Neutral, neither overbought nor oversold. The STOCH value of 77.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NL:WHA.
Wereldhave NV Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €6.31B | 11.87 | ― | 5.29% | 12.95% | -53.58% | |
68 Neutral | €1.42B | 8.81 | ― | 7.07% | 4.05% | 21.63% | |
61 Neutral | €810.65M | 11.96 | 6.23% | 7.50% | 10.18% | -26.93% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €344.65M | -20.36 | -2.54% | 13.63% | -3.75% | -1040.34% | |
48 Neutral | €13.10M | 17.34 | 3.56% | 7.52% | -44.85% | ― |
* General Sector Average
NL:WHA
Wereldhave NV
17.34
>-0.01
-0.02%
NL:ECT
Eurocastle Investment
13.00
-1.90
-12.75%
NL:ECMPA
Eurocommercial Properties NV
25.90
1.61
6.63%
NL:NSI
NSI NV
17.10
-1.55
-8.29%
NL:NAITR
New Amsterdam Invest NV
―
―
―
NL:CTPNV
CTP N.V.
12.58
-4.92
-28.12%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.