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Warehouses De Pauw WDP.BR

Belgium Real Estate
5.7/10
AI Analyst score
20.52 EUR
Last price at analysis date · analyst target 26.72 (+30.2%)
-0.1% (1 year)
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🛒 Where to buy WDP.BRPartner brokers · Belgium · sample 200.00 € orderBelgium
XTBXTB0.00 €affiliate
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🟡 HOLD — Hold; valuation is reasonable (P/B 0.98) but high leverage and rising rates limit upside potential in the short term.

Warehouses De Pauw is a Belgian REIT that invests in and manages industrial and logistics properties, generating long-term rental income. Warehouses De Pauw shows solid growth (revenue +16.4%, earnings +22.7%) and an attractive dividend yield of 5.10%, but its high leverage (Net Debt/EBITDA 8.07) and interest rate sensitivity make it vulnerable in the current environment.

Financial health
5.0
Quality / Moat
5.2
Valuation
5.6
Growth
7.8
Dividend
6.5
Momentum
4.8
Risk & Context
5.6

Detailed metrics

Market and fundamental data as of the analysis date.

💵 Valuation
P/E11.93
Fwd P/E12.08
EV/EBITDA18.52
P/B0.98
P/S8.75
PEG9.41
Market cap4.96 B EUR
Enterprise value8.74 B EUR
🏰 Quality and moat
ROIC (approx.)5.4%
Gross margin88.61%
FCF conversion41%
Operating margin84.46%
📈 Profitability and margins
ROE8.22%
ROA3.25%
Net margin70.76%
FCF191.7 M EUR
FCF yield3.86%
🏦 Solvency and liquidity
Total debt3.83 B EUR
Net debt3.81 B EUR
Cash19.6 M EUR
EBITDA471.8 M EUR
Net debt / EBITDA8.07
D/E76.30
Current ratio0.31
Quick ratio0.26
🚀 Growth
Revenue growth16.40%
Earnings growth22.70%
EPS (TTM)1.72 EUR
EPS (Fwd)1.70 EUR
💰 Dividend and risk
Dividend yield5.99%
Payout71.5%
Beta1.03
Analyst consensusStrong buy (15)
Target price26.72 EUR
52-week range20.38 EUR – 26.18 EUR
⚠️ Main risk: High leverage (Net Debt/EBITDA 8.07) combined with rising 10-year yields could compress margins and valuation if refinancing costs increase.
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Full AI report

Generated automatically from the metrics, the macro context and the company's news.

Warehouses De Pauw is a Belgian REIT that invests in and manages industrial and logistics properties, generating long-term rental income. Warehouses De Pauw shows solid growth (revenue +16.4%, earnings +22.7%) and an attractive dividend yield of 5.10%, but its high leverage (Net Debt/EBITDA 8.07) and interest rate sensitivity make it vulnerable in the current environment.

Score by category

CategoryScore
Financial health5.0
Quality / Moat5.2
Valuation5.6
Growth7.8
Dividend6.5
Momentum4.8
Risk & Context5.6

OVERALL SCORE: 5.7/10

Context and risks

Industrial REIT with Net Debt/EBITDA of 8.07, highly leveraged; rising 10-year yields (5.17%) increase refinancing costs and reduce the present value of rental flows. Additionally, the 2nd percentile position in the 52-week range reflects market pressure.

News considered in the analysis

  • Warehouses De Pauw (ENXTBR:WDP) Stock Looks Undervalued Following Its 31% Five Year Decline — Artículo de opinión sin información nueva; la caída de 5 años ya está reflejada en el precio.
  • Warehouses De Pauw SA (WDPSF) (Q2 2026) Earnings Call Highlights: Strategic Expansion and ARGAN ... — La expansión estratégica y la adquisición de ARGAN refuerzan el crecimiento de ingresos, ya descontado parcialmente en los resultados.
  • Warehouses De Pauw SA (WDPSF) Full Year 2025 Earnings Call Highlights: Strong Growth and ... — Resultados anuales ya publicados y ampliamente cubiertos; el crecimiento del 16.4% en ingresos ya está en el precio.

Verdict: Hold; valuation is reasonable (P/B 0.98) but high leverage and rising rates limit upside potential in the short term.

Main risk: High leverage (Net Debt/EBITDA 8.07) combined with rising 10-year yields could compress margins and valuation if refinancing costs increase.

Other Real Estate companies

Neighbours in the sector ranking, to compare without going back to the index.

Essential Properties Realty TrustEPRT6.1Vivmark ResidentialVMRK6.0Regency CentersREG5.8W. P. CareyWPC5.8AvalonBay CommunitiesAVB5.6Federal Realty Investment TrustFRT5.6Invitation HomesINVH5.5PrologisPLD5.4

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Automatically generated analysis from fundamental, market and news data. Not personalised financial advice — a research tool, not an individual recommendation. Past performance does not guarantee future results. Last update of this analysis: 2026-09-28. Legal notice, privacy & cookies.