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FLOW TRADERS LTD (FLOW.AS) Stock Fundamental Analysis

AMS:FLOW - Euronext Amsterdam - BMG3602E1084 - Common Stock - Currency: EUR

27.54  +0.92 (+3.46%)

Fundamental Rating

5

Overall FLOW gets a fundamental rating of 5 out of 10. We evaluated FLOW against 106 industry peers in the Capital Markets industry. While FLOW has a great profitability rating, there are quite some concerns on its financial health. FLOW may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year FLOW was profitable.
In the past year FLOW had a positive cash flow from operations.
FLOW had positive earnings in each of the past 5 years.
In the past 5 years FLOW always reported a positive cash flow from operatings.
FLOW.AS Yearly Net Income VS EBIT VS OCF VS FCFFLOW.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.88%, FLOW is in the better half of the industry, outperforming 60.38% of the companies in the same industry.
FLOW's Return On Equity of 31.69% is amongst the best of the industry. FLOW outperforms 97.17% of its industry peers.
The Return On Invested Capital of FLOW (6.94%) is better than 80.19% of its industry peers.
The Average Return On Invested Capital over the past 3 years for FLOW is below the industry average of 8.17%.
The 3 year average ROIC (3.99%) for FLOW is below the current ROIC(6.94%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.88%
ROE 31.69%
ROIC 6.94%
ROA(3y)0.9%
ROA(5y)1.83%
ROE(3y)15.97%
ROE(5y)29.85%
ROIC(3y)3.99%
ROIC(5y)7.99%
FLOW.AS Yearly ROA, ROE, ROICFLOW.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

1.3 Margins

FLOW has a better Profit Margin (23.25%) than 66.98% of its industry peers.
FLOW's Profit Margin has improved in the last couple of years.
FLOW's Operating Margin of 28.55% is fine compared to the rest of the industry. FLOW outperforms 69.81% of its industry peers.
FLOW's Operating Margin has improved in the last couple of years.
With a decent Gross Margin value of 44.77%, FLOW is doing good in the industry, outperforming 64.15% of the companies in the same industry.
In the last couple of years the Gross Margin of FLOW has remained more or less at the same level.
Industry RankSector Rank
OM 28.55%
PM (TTM) 23.25%
GM 44.77%
OM growth 3Y-4.03%
OM growth 5Y4.85%
PM growth 3Y-2.04%
PM growth 5Y5.74%
GM growth 3Y-6.21%
GM growth 5Y-0.99%
FLOW.AS Yearly Profit, Operating, Gross MarginsFLOW.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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3

2. Health

2.1 Basic Checks

The number of shares outstanding for FLOW remains at a similar level compared to 1 year ago.
Compared to 5 years ago, FLOW has less shares outstanding
The debt/assets ratio for FLOW has been reduced compared to a year ago.
FLOW.AS Yearly Shares OutstandingFLOW.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
FLOW.AS Yearly Total Debt VS Total AssetsFLOW.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

FLOW has an Altman-Z score of -0.21. This is a bad value and indicates that FLOW is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -0.21, FLOW perfoms like the industry average, outperforming 41.51% of the companies in the same industry.
FLOW has a debt to FCF ratio of 76.98. This is a negative value and a sign of low solvency as FLOW would need 76.98 years to pay back of all of its debts.
The Debt to FCF ratio of FLOW (76.98) is better than 64.15% of its industry peers.
A Debt/Equity ratio of 2.56 is on the high side and indicates that FLOW has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 2.56, FLOW is in line with its industry, outperforming 41.51% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.56
Debt/FCF 76.98
Altman-Z -0.21
ROIC/WACCN/A
WACCN/A
FLOW.AS Yearly LT Debt VS Equity VS FCFFLOW.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

FLOW has a Current Ratio of 0.53. This is a bad value and indicates that FLOW is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.53, FLOW is in line with its industry, outperforming 47.17% of the companies in the same industry.
A Quick Ratio of 0.53 indicates that FLOW may have some problems paying its short term obligations.
FLOW's Quick ratio of 0.53 is in line compared to the rest of the industry. FLOW outperforms 47.17% of its industry peers.
Industry RankSector Rank
Current Ratio 0.53
Quick Ratio 0.53
FLOW.AS Yearly Current Assets VS Current LiabilitesFLOW.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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5

3. Growth

3.1 Past

FLOW shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 344.44%, which is quite impressive.
Measured over the past years, FLOW shows a very strong growth in Earnings Per Share. The EPS has been growing by 25.64% on average per year.
The Revenue has grown by 38.15% in the past year. This is a very strong growth!
Measured over the past years, FLOW shows a quite strong growth in Revenue. The Revenue has been growing by 17.83% on average per year.
EPS 1Y (TTM)344.44%
EPS 3Y12.48%
EPS 5Y25.64%
EPS Q2Q%914.29%
Revenue 1Y (TTM)38.15%
Revenue growth 3Y13.87%
Revenue growth 5Y17.83%
Sales Q2Q%114%

3.2 Future

Based on estimates for the next years, FLOW will show a decrease in Earnings Per Share. The EPS will decrease by -2.62% on average per year.
The Revenue is expected to grow by 3.93% on average over the next years.
EPS Next Y-13.93%
EPS Next 2Y-3.5%
EPS Next 3Y1.45%
EPS Next 5Y-2.62%
Revenue Next Year21.89%
Revenue Next 2Y11.55%
Revenue Next 3Y10.48%
Revenue Next 5Y3.93%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FLOW.AS Yearly Revenue VS EstimatesFLOW.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M 800M 1B
FLOW.AS Yearly EPS VS EstimatesFLOW.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8 10

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7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 7.65 indicates a rather cheap valuation of FLOW.
Compared to the rest of the industry, the Price/Earnings ratio of FLOW indicates a rather cheap valuation: FLOW is cheaper than 88.68% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 28.18. FLOW is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 8.89, the valuation of FLOW can be described as reasonable.
88.68% of the companies in the same industry are more expensive than FLOW, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of FLOW to the average of the S&P500 Index (20.81), we can say FLOW is valued rather cheaply.
Industry RankSector Rank
PE 7.65
Fwd PE 8.89
FLOW.AS Price Earnings VS Forward Price EarningsFLOW.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, FLOW is valued cheaper than 92.45% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, FLOW is valued a bit cheaper than the industry average as 65.09% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 49.36
EV/EBITDA 3.99
FLOW.AS Per share dataFLOW.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

The excellent profitability rating of FLOW may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.3
EPS Next 2Y-3.5%
EPS Next 3Y1.45%

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3

5. Dividend

5.1 Amount

FLOW has a Yearly Dividend Yield of 1.72%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.56, FLOW has a dividend in line with its industry peers.
FLOW's Dividend Yield is slightly below the S&P500 average, which is at 2.45.
Industry RankSector Rank
Dividend Yield 1.72%

5.2 History

The dividend of FLOW decreases each year by -35.52%.
Dividend Growth(5Y)-35.52%
Div Incr Years1
Div Non Decr Years1
FLOW.AS Yearly Dividends per shareFLOW.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 1 2 3 4

5.3 Sustainability

FLOW pays out 2.67% of its income as dividend. This is a sustainable payout ratio.
The Dividend Rate of FLOW has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP2.67%
EPS Next 2Y-3.5%
EPS Next 3Y1.45%
FLOW.AS Yearly Income VS Free CF VS DividendFLOW.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
FLOW.AS Dividend Payout.FLOW.AS Dividend Payout, showing the Payout Ratio.FLOW.AS Dividend Payout.PayoutRetained Earnings

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FLOW TRADERS LTD

AMS:FLOW (5/5/2025, 5:29:51 PM)

27.54

+0.92 (+3.46%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-13 2025-02-13/bmo
Earnings (Next)07-23 2025-07-23
Inst Owners15.97%
Inst Owner ChangeN/A
Ins Owners22.77%
Ins Owner ChangeN/A
Market Cap1.26B
Analysts76
Price Target24.48 (-11.11%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.72%
Yearly Dividend0.15
Dividend Growth(5Y)-35.52%
DP2.67%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)114.07%
Min EPS beat(2)104.13%
Max EPS beat(2)124.01%
EPS beat(4)3
Avg EPS beat(4)86.84%
Min EPS beat(4)-39.25%
Max EPS beat(4)158.46%
EPS beat(8)4
Avg EPS beat(8)7.52%
EPS beat(12)7
Avg EPS beat(12)13.73%
EPS beat(16)8
Avg EPS beat(16)8.8%
Revenue beat(2)2
Avg Revenue beat(2)36.18%
Min Revenue beat(2)32.29%
Max Revenue beat(2)40.08%
Revenue beat(4)2
Avg Revenue beat(4)8.17%
Min Revenue beat(4)-31.67%
Max Revenue beat(4)40.08%
Revenue beat(8)2
Avg Revenue beat(8)-2.1%
Revenue beat(12)6
Avg Revenue beat(12)50.96%
Revenue beat(16)9
Avg Revenue beat(16)66.51%
PT rev (1m)2.86%
PT rev (3m)17.46%
EPS NQ rev (1m)75.79%
EPS NQ rev (3m)N/A
EPS NY rev (1m)8.79%
EPS NY rev (3m)29.65%
Revenue NQ rev (1m)35.15%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)15.79%
Revenue NY rev (3m)25.5%
Valuation
Industry RankSector Rank
PE 7.65
Fwd PE 8.89
P/S 1.2
P/FCF 49.36
P/OCF 39.23
P/B 1.64
P/tB 1.64
EV/EBITDA 3.99
EPS(TTM)3.6
EY13.07%
EPS(NY)3.1
Fwd EY11.25%
FCF(TTM)0.56
FCFY2.03%
OCF(TTM)0.7
OCFY2.55%
SpS22.88
BVpS16.79
TBVpS16.74
PEG (NY)N/A
PEG (5Y)0.3
Profitability
Industry RankSector Rank
ROA 1.88%
ROE 31.69%
ROCE 18.72%
ROIC 6.94%
ROICexc 6.96%
ROICexgc 6.96%
OM 28.55%
PM (TTM) 23.25%
GM 44.77%
FCFM 2.44%
ROA(3y)0.9%
ROA(5y)1.83%
ROE(3y)15.97%
ROE(5y)29.85%
ROIC(3y)3.99%
ROIC(5y)7.99%
ROICexc(3y)4%
ROICexc(5y)8.02%
ROICexgc(3y)4.01%
ROICexgc(5y)8.02%
ROCE(3y)13.82%
ROCE(5y)30.24%
ROICexcg growth 3Y-2.99%
ROICexcg growth 5Y10.2%
ROICexc growth 3Y-2.98%
ROICexc growth 5Y10.2%
OM growth 3Y-4.03%
OM growth 5Y4.85%
PM growth 3Y-2.04%
PM growth 5Y5.74%
GM growth 3Y-6.21%
GM growth 5Y-0.99%
F-Score7
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 2.56
Debt/FCF 76.98
Debt/EBITDA 6.22
Cap/Depr 38.06%
Cap/Sales 0.63%
Interest Coverage 334.05
Cash Conversion 10.16%
Profit Quality 10.49%
Current Ratio 0.53
Quick Ratio 0.53
Altman-Z -0.21
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)49.72%
Cap/Depr(5y)47.95%
Cap/Sales(3y)1.34%
Cap/Sales(5y)1.18%
Profit Quality(3y)90.14%
Profit Quality(5y)106.89%
High Growth Momentum
Growth
EPS 1Y (TTM)344.44%
EPS 3Y12.48%
EPS 5Y25.64%
EPS Q2Q%914.29%
EPS Next Y-13.93%
EPS Next 2Y-3.5%
EPS Next 3Y1.45%
EPS Next 5Y-2.62%
Revenue 1Y (TTM)38.15%
Revenue growth 3Y13.87%
Revenue growth 5Y17.83%
Sales Q2Q%114%
Revenue Next Year21.89%
Revenue Next 2Y11.55%
Revenue Next 3Y10.48%
Revenue Next 5Y3.93%
EBIT growth 1Y199.92%
EBIT growth 3Y9.28%
EBIT growth 5Y23.55%
EBIT Next Year23.53%
EBIT Next 3Y13.61%
EBIT Next 5Y5.45%
FCF growth 1Y-62.21%
FCF growth 3Y-52.52%
FCF growth 5Y-17.48%
OCF growth 1Y-59.66%
OCF growth 3Y-49.21%
OCF growth 5Y-16.54%