olivLaw · European equity research
Econocom Group ECONB.BR
Belgium · Euronext Brussels · ISIN BE0974313455 · Vertical: Listed companies from Belgium
At the close of 05 Nov 2026, Econocom Group (ECONB.BR) stock was 1.58 EUR (+2.60% on the day), with market capitalisation 210.7 m EUR, P/E 40.5 on diluted EPS of 0.04 EUR over the last 12 months, dividend yield 6.33%, beta 0.24, 52-week range 1.26–1.85 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 67.7
- strong (55–70)
- Bollinger (20, 2)
- 1.26 – 1.56
- above the upper band · %B 1.07 · band width 21.0%
- SMA 50 / 200
- 1.42 / 1.49
- mixed trend
- MACD (12, 26, 9)
- 0.03 / 0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.2% | +0.4% | +7.8 pp | — |
| 3 months | +6.0% | −3.3% | +9.3 pp | — |
| 6 months | +12.9% | +4.0% | +8.9 pp | — |
| Year to date | −4.1% | +8.1% | −12.2 pp | — |
| 1 year | −4.8% | +10.7% | −15.5 pp | +8.1% |
| 3 years | −32.0% | +50.1% | −82.1 pp | −4.6% |
| 5 years | −59.1% | +43.6% | −102.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 7.3, median 8.5, max 42.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2.6 bn | 2.8 bn | 2.9 bn |
| Revenue YoY | unavailable | +5.9% | +4.3% |
| Net income | 63.5 m | 37.8 m | 5.2 m |
| Net income YoY | unavailable | −40.5% | −86.2% |
| Diluted EPS | 0.35 | 0.22 | 0.04 |
| Diluted EPS YoY | unavailable | −37.9% | −82.3% |
| net % | 2.4% | 1.3% | 0.2% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 523.4 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 455.4 m EUR
- Total assets
- 2.5 bn EUR
- Debt / equity
- unavailable
- Current ratio
- 1.20x
- ROE
- 1.1%
- ROA
- 0.2%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 2.6 bn | 2.8 bn | 2.9 bn | esef· 10 Mar 2026verified |
| Cost of revenue | 1.9 bn | 2.0 bn | 2.1 bn | esef· 10 Mar 2026verified |
| Gross profit | 731.0 m ≈ | 774.7 m ≈ | 823.1 m ≈ | esef· 10 Mar 2026derived |
| Operating income | 103.6 m | 87.6 m | 98.9 m | esef· 10 Mar 2026verified |
| Interest expense | 20.7 m | 21.6 m | 21.7 m | esef· 10 Mar 2026verified |
| Pre-tax income | 84.0 m | 67.0 m | 82.0 m | esef· 10 Mar 2026verified |
| Income tax | 25.8 m | 29.7 m | 28.8 m | esef· 10 Mar 2026verified |
| Net income | 63.5 m | 37.8 m | 5.2 m | esef· 10 Mar 2026verified |
| Diluted EPS | 0.35 | 0.22 | 0.04 | esef· 10 Mar 2026verified |
| Dividend per share | — | 0.16 | 0.10 | esef· 10 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 226.6 m | 330.1 m | 523.4 m | esef· 10 Mar 2026verified |
| Receivables | 775.9 m | 860.0 m | 785.2 m | esef· 10 Mar 2026verified |
| Inventories | 80.1 m | 80.1 m | 83.7 m | esef· 10 Mar 2026verified |
| Current assets | 1.5 bn | 1.5 bn | 1.6 bn | esef· 10 Mar 2026verified |
| Property, plant & equipment, net | 32.0 m | 30.4 m | 34.9 m | esef· 10 Mar 2026verified |
| Goodwill | 525.1 m | 525.4 m | 589.8 m | esef· 10 Mar 2026verified |
| Intangibles (excl. goodwill) | 46.1 m | 41.8 m | 45.0 m | esef· 10 Mar 2026verified |
| Total assets | 2.3 bn | 2.4 bn | 2.5 bn | esef· 10 Mar 2026verified |
| Current liabilities | 1.3 bn | 1.4 bn | 1.3 bn | esef· 10 Mar 2026verified |
| Equity | 474.7 m | 474.2 m | 455.4 m | esef· 10 Mar 2026verified |
| Shares outstanding at year end | 179.4 m | 171.8 m | 133.3 m | esef· 10 Mar 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Share repurchases | 18.5 m | 11.1 m | 8.0 m | esef· 10 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 210.7 m EUR
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.39 – 1.85 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E0.39 – 0.88 (Mid 0.56)23 companies used · median multiple 14.3x · quartiles 9.9x – 22.7xACKB.BR, AGS.BR, AZE.BR, BAR.BR, BEKB.BR, BELYS.BR, BPOST.BR, CAMB.BR, CFEB.BR, COLR.BR, DECB.BR, DEME.BR, DIE.BR, ELI.BR, EVS.BR, FAGR.BR, FLOB.BR, FOU.BR, IBAB.BR, JEN.BR, KIN.BR, MELE.BR, MOUR.BR
- Dividend discount (DDM)1.36 – 1.85 (Mid 1.57)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 0.2% | 23 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.6x | 47 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 1.2x | 33 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | 40.5x | 15 (vs peers) | 31% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.8% | 54 (on a fixed band) | 19% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet41/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial23/100 · 1/3 factors with a value
- Returns· partial54/100 · 1/2 factors with a value
- Valuation· partial15/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ECONOCOM GROUP (ECONB.BR). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 2.9 bn EUR in 2025; YoY growth 4.3%; net margin 0.2%; ROE 1.2%.
The estimated value range is 0.87–1.37 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 1.06 EUR, the price of 1.58 EUR leaves a potential of -32.7% (value / price − 1) and a margin of safety of -48.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: 0.2%
- P/E (TTM): 40.5x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Belgium · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ELI.BRElia Group | 11.9 bn | 23.3 | 9.6% | 13.6% | −2.0% | +28% / +34% |
| LOTB.BRLotus Bakeries | 11.4 bn | 66.4 | 20.9% | 12.7% | +10.0% | +82% / +76% |
| GBLB.BRGroupe Bruxelles Lambert - Groep Brussel Lambert | 10.6 bn | 82.4 | 0.8% | 2.1% | +1.0% | +6% / +9% |
| DIE.BRD'ieteren Group | 9.7 bn | 23.2 | — | 5.3% | −1.5% | +22% / +16% |
| ACKB.BRAckermans & Van Haaren | 8.8 bn | 22.2 | 8.4% | 7.6% | +18.6% | +22% / +77% |
| COLR.BRColruyt Group | 4.4 bn | 14.6 | 9.4% | 2.9% | +3.1% | +12% / −6% |
| DEME.BRDeme Group | 4.2 bn | 12.2 | 15.5% | 8.3% | +1.3% | +21% / +72% |
| AZE.BRAzelis Group | 2.9 bn | 16.1 | 6.6% | 4.3% | +1.5% | +29% / −42% |
| MELE.BRMelexis | 2.1 bn | 12.4 | 30.7% | 18.4% | −3.3% | −1% / −38% |
| BEKB.BRNV Bekaert SA | 2.1 bn | 30.7 | 3.1% | 1.8% | −6.4% | +10% / −5% |
| FAGR.BRFagron | 1.8 bn | 22.2 | 16.7% | 9.2% | +14.3% | +15% / +40% |
| KIN.BRKinepolis Group | 1.4 bn | 33.9 | 19.3% | 7.0% | −4.5% | +62% / +11% |
| JEN.BRJensen Group | 706.9 m | 17.2 | 15.1% | 9.1% | +13.3% | +28% / +111% |
| BAR.BRBarco | 563.5 m | 9.1 | 7.9% | 6.7% | −9.9% | −48% / −59% |
| IBAB.BRIon Beam Applications | 487.2 m | 39.5 | 10.7% | 2.1% | +24.5% | +48% / +52% |
| DECB.BRDeceuninck | 341.3 m | 24.6 | 4.3% | 1.7% | −4.5% | +8% / +8% |
| CAMB.BRCampine | 272.3 m | 12.2 | 28.6% | 6.1% | +13.4% | −12% / +161% |
| CFEB.BRAannemingsmaatschappij Cfe | 266.8 m | 11.1 | 9.9% | 2.0% | −5.3% | +22% / +48% |
| MOUR.BRMoury Construct | 261.2 m | 10.7 | 21.3% | 13.1% | −4.0% | +11% / +76% |
| EVS.BREvs Broadcast Equipment | 245.9 m | 6.0 | 20.8% | 21.7% | +14.3% | −49% / −36% |
| BPOST.BRBpost | 229.8 m | 3.5 | 6.3% | 1.5% | −2.6% | −39% / −75% |
| ECONB.BREconocom Group | 210.7 m | 40.5 | 1.2% | 0.2% | +4.3% | −1% / −36% |
| IMMO.BRImmobel | 172.2 m | — | -7.4% | -25.2% | −32.8% | −24% / −36% |
| MONNI.BRKeyware Technologies | 171.0 m | 162.0 | 3.5% | 4.5% | −5.9% | −5% / −17% |
| HYSG.BRHybrid Software Group PLC | 121.3 m | — | -2.5% | -5.5% | +7.2% | −4% / +13% |
1- and 3-year price returns: for ECONB.BR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.93 Total return -39% · Per year -39% | 1.65 Total return 7% · Per year 7% | 2.48 Total return 60% · Per year 60% |
| 3 years | 0.90 Total return -37% · Per year -14% | 1.79 Total return 22% · Per year 7% | 2.97 Total return 98% · Per year 26% |
| 5 years | 0.87 Total return -35% · Per year -8% | 1.95 Total return 38% · Per year 7% | 3.55 Total return 143% · Per year 19% |
- Exit P/E± 0.45
- Net margin± 0.31
- Annual revenue growth± 0.26
- Annual dilution± 0.03
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202510 Mar 2026
- Annual report 202404 Mar 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.