Wereldhav B-Sicafi (WEHB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Wereldhav B-Sicafi stock €48.30, price €51.40, that is 6.0% below the price, quality 50 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €29.60 – €55.60 · fair‑value band €33.81 – €66.01 · the €51.40 price screens above the €48.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
Follow Wereldhav B-Sicafi in your weekly email
Every Wednesday you see whether Wereldhav B-Sicafi is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Wereldhave Belgium is a Belgian regulated real estate company (GVV/SIR) with a retail portfolio of more than 1.2 billion euros. The portfolio includes shopping centers, retail parks, and offices in Belgium and the Grand Duchy of Luxembourg.
Show moreShow less
These locations welcome more than 30 million visitors each year. Wereldhave Belgium operates in Belgian cities such as Nivelles, Liège, Kortrijk, Tournai, Charleroi, and Genk, as well as in Schmiede and Pommerloch (Grand Duchy of Luxembourg).
The portfolio is primarily located on the outskirts of urban areas, where accessibility, scale, and complementarity with city centers are key. These locations combine a stable tenant mix with strong local anchoring. Wereldhave Belgium combines investment strength with operational expertise.
The company manages its assets in-house and actively drives leasing, marketing, and value creation. On-site teams ensure a strong local presence, supported by a central organization that safeguards efficiency and consistency. The strategy is built on the Life Central vision.
The focus is on developing accessible and sustainable places where retail, leisure, and services come together. Growth is driven by targeted acquisitions and continuous investment in the existing portfolio.
Stock analysis
Wereldhav B-Sicafi (WEHB) currently trades at €51.40, while our model-based Fair Value estimate is €48.30, so the stock looks roughly fairly valued today (gap 6.4%).
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of €65.07 per share, and 10 of the 16 models we run sit above the €51.40 price.
Bear case: the Dividend Discount group reads lowest at €21.02, and 6 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: €33.81 (bear) to €66.01 (bull), the price of €51.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Wereldhav B-Sicafi reported revenue of €97.0M in FY2025 versus €67.5M in FY2021, a compound +9.5%/yr. Reported net income was €42.4M in FY2025, compounding +2.6%/yr from FY2021.
Key figures
Market cap €588M Small · P/E ratio 10.1 · P/S ratio 6.84 · EPS (TTM) €5.08 · Dividend yield 8.1% · Net margin 59.8% · Return on equity 6.6% · Return on assets (EBIT) 5.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −30% fair-value upside, at −6%, WEHB screens cheaper than that median.
Fair Value models
Bear€33.81Fair Value €48.30Bull€66.01
Price €51.40 · Downside -6.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.7950 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF€39.64€74.35€123.5678
Growth DCF€39.78€72.59€117.5476
Residual Income€53.57€53.41€55.8576
All 16 models by family
DCF Models
FCF DCF€39.64€74.35€123.5678
5Y Revenue Exit€23.31€49.37€82.4070
5Y EBITDA Exit€33.23€68.43€109.7773
10Y Revenue Exit€27.90€52.57€85.6765
10Y EBITDA Exit€35.00€65.07€105.6066
Dividend Discount
Gordon GGM€11.96€22.11€31.1367
DDM Multi-Stage€11.96€19.93€23.5667
Multiples
P/S Multiple€41.37€55.16€68.9558
P/B Multiple€108.41€144.54€180.6855
EV/EBIT€53.77€80.54€107.3165
EV/EBITDA€35.98€56.82€77.6666
EV/Revenue€15.04€32.86€50.6851
Asset-Based
NCAV (Graham)€36.14€48.42€72.2754
Growth DCF
Growth DCF€39.78€72.59€117.5476
Rev-Margin DCF€20.11€44.48€72.6870
Economic Profit
Residual Income€53.57€53.41€55.8576
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.6%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+10.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.8%
Dividend (yield on the price)8.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.8% vs −4.1%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.57% → 57%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +5.1% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Retail · 88 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−6.0% · Above median
Profitability
Return on equity (12 months)6.6% · Below median
Return on assets3.3% · Below median
Net margin (12 months)59.8% · Above median
Operating margin (12 months)77.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)16.8% · Top 25%
Dividend yield (12 months)8.1% · Top 25%
Balance sheet
Debt / equity0.40× · Lowest 25%
Valuation Multiplesvs REIT - Retail median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Wereldhav B-Sicafi Fair Value". https://www.fairvalue-calculator.com/stock/WEHB
Frequently asked questions
Is Wereldhav B-Sicafi (WEHB) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €48.30 versus a price of €51.40, about 6% lower (fairly valued).
What is the fair value of WEHB?
Our model-based fair value for Wereldhav B-Sicafi is €48.30 (as of Nov 7, 2026), built from audited fundamentals. The current price: €51.40.
What is the quality score of WEHB?
Wereldhav B-Sicafi has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Wereldhav B-Sicafi (WEHB)?
Our model-based price target is the fair value of €48.30 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario €33.81, optimistic scenario €66.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Wereldhav B-Sicafi stock forecast for 2026?
Our models put fair value at €48.30, about 6% lower versus a price of €51.40 (fairly valued). Cautious scenario €33.81, optimistic scenario €66.01. The calculation is refreshed regularly with new filings.
What is the revenue of Wereldhav B-Sicafi (WEHB)?
Wereldhav B-Sicafi reported trailing-twelve-month revenue of about €85.9M (latest available figure, as of Nov 7, 2026).
Does Wereldhav B-Sicafi pay a dividend?
Wereldhav B-Sicafi currently shows a dividend yield of 8.07% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Wereldhav B-Sicafi (WEHB) and when is the ex-dividend date?
Wereldhav B-Sicafi pays a dividend of €4.15 per share a year, a dividend yield of 8.1%. The last ex-dividend date was Apr 13, 2026. A dividend has been paid every year since at least 1999. The payout ratio is 81.7% of earnings. Free cash flow covers the dividend 1.26 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Wereldhav B-Sicafi (WEHB)?
For today's price to be fair in a discounted-cash-flow model, Wereldhav B-Sicafi would have to grow free cash flow by +7.4 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of WEHB use?
Our models discount Wereldhav B-Sicafi at 10.6 %: a base by market capitalisation (small), damped by beta 0.59, country premium for Belgium. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Wereldhav B-Sicafi that is +7.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Wereldhav B-Sicafi (WEHB) delivered so far?
Over the past 5 years revenue at Wereldhav B-Sicafi grew +7.6 % a year. The price currently implies free-cash-flow growth of +7.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Wereldhav B-Sicafi (WEHB) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Wereldhav B-Sicafi (+7.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Wereldhav B-Sicafi (WEHB)?
The free-cash-flow yield on the price is 10.18 %: that much free cash flow Wereldhav B-Sicafi produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wereldhav B-Sicafi (WEHB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wereldhav B-Sicafi it is €48.30 per share (as of Nov 7, 2026), against a price of €51.40. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Wereldhav B-Sicafi stock overvalued or undervalued in 2026?
As of Nov 7, 2026, WEHB trades above its calculated fair value: price €51.40, fair value €48.30, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WEHB?
No. The price is what the market pays today (€51.40); the fair value is what the company's own numbers justify (€48.30). For Wereldhav B-Sicafi the two are €3.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wereldhav B-Sicafi worth?
The market values Wereldhav B-Sicafi at about €588M (market capitalisation, as of Nov 7, 2026). Per share that is €51.40; our models calculate a fair value of €48.30 per share.
What do the bullish and bearish scenarios say about WEHB?
Our models span a range for Wereldhav B-Sicafi: cautious scenario €33.81, base €48.30, optimistic €66.01 per share (as of Nov 7, 2026, price €51.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WEHB?
Wereldhav B-Sicafi trades at a price-to-earnings ratio of 10.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €48.30 is built from several models across several years. Other multiples: PEG 1.4, P/B 0.7, P/S 6.8, EV/EBITDA 13.1.
What is the PEG ratio of WEHB?
The PEG ratio of Wereldhav B-Sicafi is 1.42 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Wereldhav B-Sicafi (WEHB)?
Balance-sheet figures for Wereldhav B-Sicafi (as of Nov 7, 2026): return on equity 6.6%, debt of 0.40 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is WEHB from its 52-week high?
Wereldhav B-Sicafi trades at €51.40, about 8% below its 52-week high of €55.60 and 22% above the low of €42.01 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €48.30 is for.
Which stocks are comparable to Wereldhav B-Sicafi?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Kimco Realty Corporation, Unibail-Rodamco-Westfield SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Wereldhav B-Sicafi stock attractive at the current price?
The data as of Nov 7, 2026: price €51.40, calculated fair value €48.30 (−6%), Quality Score 50/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WEHB calculated?
We run Wereldhav B-Sicafi through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of €48.30 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Wereldhav B-Sicafi itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Wereldhav B-Sicafi (WEHB)?
The closing price on Nov 6, 2026 was €51.40. Our model-based fair value is €48.30, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wereldhav B-Sicafi right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€33.81 to €66.01) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Wereldhav B-Sicafi (WEHB) come from?
Earnings per share at Wereldhav B-Sicafi grew −3.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.6 %, EBIT margin −2.7 %, tax rate −0.1 %, residual (interest, one-offs) −2.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Wereldhav B-Sicafi
How large is the market capitalisation of Wereldhav B-Sicafi (WEHB)?
The market capitalisation of Wereldhav B-Sicafi is €588M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Wereldhav B-Sicafi (WEHB)?
The price-to-sales ratio of Wereldhav B-Sicafi is 6.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Wereldhav B-Sicafi (WEHB)?
Earnings per share at Wereldhav B-Sicafi are €5.08 (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wereldhav B-Sicafi (WEHB)?
The dividend yield of Wereldhav B-Sicafi is 8.1% (payout 81.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Wereldhav B-Sicafi (WEHB)?
The net margin of Wereldhav B-Sicafi is 59.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Wereldhav B-Sicafi (WEHB)?
The return on equity (ROE) of Wereldhav B-Sicafi is 6.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Wereldhav B-Sicafi (WEHB)?
On an EBIT basis the return on assets of Wereldhav B-Sicafi is 5.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Wereldhav B-Sicafi (WEHB)?
The operating margin of Wereldhav B-Sicafi is 77.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wereldhav B-Sicafi (WEHB)?
Revenue at Wereldhav B-Sicafi is growing +16.8% versus a year earlier (3y avg +10.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Wereldhav B-Sicafi (WEHB)?
Earnings per share at Wereldhav B-Sicafi are growing +7.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Wereldhav B-Sicafi (WEHB) carry?
The net debt of Wereldhav B-Sicafi is €303M (fiscal year 2025, ≈ 5.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Wereldhav B-Sicafi in the live analysis
One click puts Wereldhav B-Sicafi on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 7, 2026