Warehouses De Pauw SA (WDP) Fair Value & Analysis
Real Estate · BE · Market cap €5.3B
Fair value as of: Aug 6, 2026
From 16 valuation models · updated 4 days ago
Fair value updated Aug 6, 2026, revised from €16.49 to €15.53 (−5.8%) since Jul 27, 2026. Share price −0.4% over the past month.
A solid business, but screening 28% overvalued on our models.
What matters now
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€10.58 to €23.03) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.
How to read this chart
60‑month range €16.87 – €36.27 · fair‑value band €10.58 – €23.03 · the €21.66 price screens above the €15.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 6, 2026.
Analysis
Warehouses De Pauw SA (WDP) currently trades at €21.66, while our model-based Fair Value estimate is €15.53, implying the stock looks roughly 28.3% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Warehouses De Pauw SA generated revenue of €547M at a net margin of 69.8%. Revenue grew 1.0% year over year. It earns a return on equity of 7.7%. Net debt stands at €3.5B. Fundamentals as of Aug 6, 2026
Our scenario range runs from €10.58 (bear case) to €23.03 (bull case); at €21.66, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -45% fair-value upside, at -28%, WDP screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Economic Profit (€17.56) versus Growth DCF (€8.68). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Warehouses De Pauw SA develops and invests in logistics real estate warehouses and offices. WDP's property portfolio comprises more than 9 million m.
Full company description
Warehouses De Pauw SA develops and invests in logistics real estate warehouses and offices. WDP's property portfolio comprises more than 9 million m. This international portfolio of semi-industrial and logistics buildings is spread over more than 350 sites at prime logistics locations for storage and distribution in Belgium, the Netherlands, France, Luxembourg, Germany and Romania. Warehouses De Pauw SA was incorporated in May 27th, 1977 in Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Warehouses De Pauw SA reported revenue of €522M in FY2025 versus €279M in FY2021, a compound +17.0%/yr. Reported net income was €354M in FY2025, compounding −22.5%/yr from FY2021.
WDP screens 28% overvalued. Compare with Prologis, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Warehouses De Pauw SA (WDPSF) (Q2 2026) Earnings Call Highlights: Strategic Expansion and ARGAN ...
- Warehouses De Pauw SA (WDPSF) Full Year 2025 Earnings Call Highlights: Strong Growth and ...
- Is Warehouses De Pauw’s 2025 Recovery for Real After Improving Logistics Demand?
- Warehouses De Pauw SA (WDPSF) (FY 2024) Earnings Call Highlights: Strategic Growth and ...
Peer Group
REIT - Industrial · 63 stocks
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.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $143.42 | $61.28 | -57% |
| Public Storage, a member of the S&P 500, PSA | $322.48 | $172.80 | -46% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $213.10 | $81.41 | -62% |
| Lineage, Inc LINE | $41.42 | $47.91 | +16% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.51 SGD | 2.00 SGD | -20% |
| CubeSmart CUBE | $42.09 | $25.06 | -40% |
| First Industrial Realty Trust, Inc FR | $66.99 | $21.48 | -68% |
| Rexford Industrial Realty, Inc REXR | $39.00 | $21.35 | -45% |
| STAG Industrial, Inc STAG | $41.11 | $24.31 | -41% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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