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

Europe - AMS:VLK - NL0000302636

50.4 EUR
+0.65 (+1.31%)
Last: 9/19/2025, 7:00:00 PM
Fundamental Rating

4

VLK gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 112 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 not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year VLK was profitable.
VLK had a positive operating cash flow in the past year.
VLK had positive earnings in each of the past 5 years.
Each year in the past 5 years VLK had a positive operating cash flow.
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 50.00% of its industry peers.
VLK's Return On Equity of 9.57% is in line compared to the rest of the industry. VLK outperforms 58.04% of its industry peers.
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 62.50% 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

The number of shares outstanding for VLK has been reduced compared to 1 year ago.
The number of shares outstanding for VLK has been increased compared to 5 years ago.
The debt/assets ratio for VLK has been reduced compared to a year ago.
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

VLK has a debt to FCF ratio of 41.46. This is a negative value and a sign of low solvency as VLK would need 41.46 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 41.46, VLK is in the better half of the industry, outperforming 63.39% of the companies in the same industry.
VLK has a Debt/Equity ratio of 1.45. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.45, VLK perfoms like the industry average, outperforming 47.32% of the companies in the same industry.
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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5

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.
The Revenue has been growing slightly by 7.12% in the past year.
The Revenue has been growing slightly by 3.15% on average over the past years.
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

VLK is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.17% yearly.
Based on estimates for the next years, VLK will show a small growth in Revenue. The Revenue will grow by 4.20% on average per year.
EPS Next Y6.3%
EPS Next 2Y5.16%
EPS Next 3Y6.59%
EPS Next 5Y7.17%
Revenue Next Year3.3%
Revenue Next 2Y4.02%
Revenue Next 3Y4.27%
Revenue Next 5Y4.2%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better 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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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 15.27, VLK is valued correctly.
70.54% of the companies in the same industry are more expensive than VLK, based on the Price/Earnings ratio.
VLK's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.38.
With a Price/Forward Earnings ratio of 14.37, VLK is valued correctly.
Based on the Price/Forward Earnings ratio, VLK is valued a bit cheaper than 77.68% of the companies in the same industry.
VLK is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.86, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 15.27
Fwd PE 14.37
VLK.AS Price Earnings VS Forward Price EarningsVLK.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of VLK indicates a somewhat cheap valuation: VLK is cheaper than 66.96% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 42.62
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

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VLK does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.42
PEG (5Y)2.76
EPS Next 2Y5.16%
EPS Next 3Y6.59%

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6

5. Dividend

5.1 Amount

VLK has a Yearly Dividend Yield of 5.53%, which is a nice return.
VLK's Dividend Yield is rather good when compared to the industry average which is at 6.14. VLK pays more dividend than 83.93% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, VLK pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.53%

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

VLK pays out 71.52% of its income as dividend. This is not a sustainable payout ratio.
DP71.52%
EPS Next 2Y5.16%
EPS Next 3Y6.59%
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 (9/19/2025, 7:00:00 PM)

50.4

+0.65 (+1.31%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)08-28 2025-08-28
Earnings (Next)10-28 2025-10-28
Inst Owners23.98%
Inst Owner ChangeN/A
Ins Owners0.71%
Ins Owner ChangeN/A
Market Cap2.17B
Analysts82.86
Price Target58.29 (15.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.53%
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)10.4%
PT rev (3m)10.4%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)7.2%
EPS NY rev (3m)7.2%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.97%
Revenue NY rev (3m)-0.11%
Valuation
Industry RankSector Rank
PE 15.27
Fwd PE 14.37
P/S 2.83
P/FCF 42.62
P/OCF 25.25
P/B 1.58
P/tB 2.03
EV/EBITDA N/A
EPS(TTM)3.3
EY6.55%
EPS(NY)3.51
Fwd EY6.96%
FCF(TTM)1.18
FCFY2.35%
OCF(TTM)2
OCFY3.96%
SpS17.81
BVpS32
TBVpS24.82
PEG (NY)2.42
PEG (5Y)2.76
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 Y6.3%
EPS Next 2Y5.16%
EPS Next 3Y6.59%
EPS Next 5Y7.17%
Revenue 1Y (TTM)7.12%
Revenue growth 3Y5.32%
Revenue growth 5Y3.15%
Sales Q2Q%2.91%
Revenue Next Year3.3%
Revenue Next 2Y4.02%
Revenue Next 3Y4.27%
Revenue Next 5Y4.2%
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%