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VAN LANSCHOT KEMPEN NV (VLK.AS) Stock Fundamental Analysis

AMS:VLK - Euronext Amsterdam - NL0000302636 - Currency: EUR

56.4  -0.07 (-0.12%)

Fundamental Rating

3

Overall VLK gets a fundamental rating of 3 out of 10. We evaluated VLK against 106 industry peers in the Capital Markets industry. There are concerns on the financial health of VLK while its profitability can be described as average. VLK is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

VLK had positive earnings in the past year.
VLK had a positive operating cash flow in the past year.
In the past 5 years VLK has always been profitable.
VLK had a positive operating cash flow in each of the past 5 years.
VLK.AS Yearly Net Income VS EBIT VS OCF VS FCFVLK.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 0 200M 400M 600M 800M 1B

1.2 Ratios

VLK has a Return On Assets of 0.78%. This is comparable to the rest of the industry: VLK outperforms 53.77% of its industry peers.
Looking at the Return On Equity, with a value of 9.57%, VLK is in the better half of the industry, outperforming 61.32% of the companies in the same industry.
Industry RankSector Rank
ROA 0.78%
ROE 9.57%
ROIC N/A
ROA(3y)0.64%
ROA(5y)0.61%
ROE(3y)7.99%
ROE(5y)7.37%
ROIC(3y)N/A
ROIC(5y)N/A
VLK.AS Yearly ROA, ROE, ROICVLK.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

The Profit Margin of VLK (17.20%) is better than 64.15% of its industry peers.
VLK's Profit Margin has improved in the last couple of years.
VLK does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 17.2%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.26%
PM growth 5Y3.98%
GM growth 3YN/A
GM growth 5YN/A
VLK.AS Yearly Profit, Operating, Gross MarginsVLK.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

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2

2. Health

2.1 Basic Checks

Compared to 1 year ago, VLK has less shares outstanding
VLK has more shares outstanding than it did 5 years ago.
VLK has a better debt/assets ratio than last year.
VLK.AS Yearly Shares OutstandingVLK.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
VLK.AS Yearly Total Debt VS Total AssetsVLK.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

The Debt to FCF ratio of VLK is 41.46, which is on the high side as it means it would take VLK, 41.46 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 41.46, VLK is doing good in the industry, outperforming 65.09% of the companies in the same industry.
A Debt/Equity ratio of 1.45 is on the high side and indicates that VLK has dependencies on debt financing.
VLK's Debt to Equity ratio of 1.45 is in line compared to the rest of the industry. VLK outperforms 50.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.45
Debt/FCF 41.46
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
VLK.AS Yearly LT Debt VS Equity VS FCFVLK.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
VLK.AS Yearly Current Assets VS Current LiabilitesVLK.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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4

3. Growth

3.1 Past

VLK shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.27%, which is quite good.
The Earnings Per Share has been growing slightly by 5.54% on average over the past years.
VLK shows a small growth in Revenue. In the last year, the Revenue has grown by 7.12%.
VLK shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.15% yearly.
EPS 1Y (TTM)9.27%
EPS 3Y-2.47%
EPS 5Y5.54%
EPS Q2Q%-11.24%
Revenue 1Y (TTM)7.12%
Revenue growth 3Y5.32%
Revenue growth 5Y3.15%
Sales Q2Q%2.91%

3.2 Future

The Earnings Per Share is expected to grow by 6.28% on average over the next years.
The Revenue is expected to grow by 2.41% on average over the next years.
EPS Next Y-0.84%
EPS Next 2Y3.35%
EPS Next 3Y5.44%
EPS Next 5Y6.28%
Revenue Next Year2.18%
Revenue Next 2Y3.47%
Revenue Next 3Y4.02%
Revenue Next 5Y2.41%

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 stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
VLK.AS Yearly Revenue VS EstimatesVLK.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M
VLK.AS Yearly EPS VS EstimatesVLK.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 17.09, the valuation of VLK can be described as rather expensive.
Based on the Price/Earnings ratio, VLK is valued a bit cheaper than the industry average as 66.04% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 24.12. VLK is valued slightly cheaper when compared to this.
VLK is valuated rather expensively with a Price/Forward Earnings ratio of 17.24.
Compared to the rest of the industry, the Price/Forward Earnings ratio of VLK indicates a somewhat cheap valuation: VLK is cheaper than 70.75% of the companies listed in the same industry.
VLK's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 20.42.
Industry RankSector Rank
PE 17.09
Fwd PE 17.24
VLK.AS Price Earnings VS Forward Price EarningsVLK.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 Price/Free Cash Flow ratio, VLK is valued a bit cheaper than 66.04% of the companies in the same industry.
Industry RankSector Rank
P/FCF 47.69
EV/EBITDA N/A
VLK.AS Per share dataVLK.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)3.08
EPS Next 2Y3.35%
EPS Next 3Y5.44%

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6

5. Dividend

5.1 Amount

VLK has a Yearly Dividend Yield of 5.39%, which is a nice return.
Compared to an average industry Dividend Yield of 6.56, VLK pays a better dividend. On top of this VLK pays more dividend than 83.02% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, VLK pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.39%

5.2 History

The dividend of VLK decreases each year by -5.64%.
Dividend Growth(5Y)-5.64%
Div Incr Years0
Div Non Decr Years0
VLK.AS Yearly Dividends per shareVLK.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 0.5 1 1.5 2

5.3 Sustainability

71.52% of the earnings are spent on dividend by VLK. This is not a sustainable payout ratio.
DP71.52%
EPS Next 2Y3.35%
EPS Next 3Y5.44%
VLK.AS Yearly Income VS Free CF VS DividendVLK.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B
VLK.AS Dividend Payout.VLK.AS Dividend Payout, showing the Payout Ratio.VLK.AS Dividend Payout.PayoutRetained Earnings

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VAN LANSCHOT KEMPEN NV

AMS:VLK (5/9/2025, 5:29:50 PM)

56.4

-0.07 (-0.12%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-27 2025-02-27/dmh
Earnings (Next)08-28 2025-08-28
Inst Owners24.96%
Inst Owner ChangeN/A
Ins Owners0.71%
Ins Owner ChangeN/A
Market Cap2.43B
Analysts82.86
Price Target50.76 (-10%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.39%
Yearly Dividend2.22
Dividend Growth(5Y)-5.64%
DP71.52%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)1.22%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-5.45%
EPS NY rev (3m)-6.9%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.26%
Revenue NY rev (3m)-2%
Valuation
Industry RankSector Rank
PE 17.09
Fwd PE 17.24
P/S 3.17
P/FCF 47.69
P/OCF 28.26
P/B 1.76
P/tB 2.27
EV/EBITDA N/A
EPS(TTM)3.3
EY5.85%
EPS(NY)3.27
Fwd EY5.8%
FCF(TTM)1.18
FCFY2.1%
OCF(TTM)2
OCFY3.54%
SpS17.81
BVpS32
TBVpS24.82
PEG (NY)N/A
PEG (5Y)3.08
Profitability
Industry RankSector Rank
ROA 0.78%
ROE 9.57%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 17.2%
GM N/A
FCFM 6.64%
ROA(3y)0.64%
ROA(5y)0.61%
ROE(3y)7.99%
ROE(5y)7.37%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.26%
PM growth 5Y3.98%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 1.45
Debt/FCF 41.46
Debt/EBITDA N/A
Cap/Depr 102.15%
Cap/Sales 4.57%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 38.6%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)85.99%
Cap/Depr(5y)205.48%
Cap/Sales(3y)3.93%
Cap/Sales(5y)9.53%
Profit Quality(3y)178.07%
Profit Quality(5y)809.02%
High Growth Momentum
Growth
EPS 1Y (TTM)9.27%
EPS 3Y-2.47%
EPS 5Y5.54%
EPS Q2Q%-11.24%
EPS Next Y-0.84%
EPS Next 2Y3.35%
EPS Next 3Y5.44%
EPS Next 5Y6.28%
Revenue 1Y (TTM)7.12%
Revenue growth 3Y5.32%
Revenue growth 5Y3.15%
Sales Q2Q%2.91%
Revenue Next Year2.18%
Revenue Next 2Y3.47%
Revenue Next 3Y4.02%
Revenue Next 5Y2.41%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-79.75%
FCF growth 3Y-64.8%
FCF growth 5Y-38.8%
OCF growth 1Y-70.4%
OCF growth 3Y-60.17%
OCF growth 5Y-32.3%