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

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

56.3  -0.2 (-0.35%)

Fundamental Rating

4

Overall VLK gets a fundamental rating of 4 out of 10. We evaluated VLK against 108 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

In the past year VLK was profitable.
VLK had a positive operating cash flow in the past year.
Each year in the past 5 years VLK has been profitable.
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

Looking at the Return On Assets, with a value of 0.78%, VLK is in line with its industry, outperforming 48.15% of the companies in the same industry.
With a Return On Equity value of 9.57%, VLK perfoms like the industry average, outperforming 59.26% 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

VLK's Profit Margin of 17.20% is fine compared to the rest of the industry. VLK outperforms 63.89% of its industry peers.
In the last couple of years the Profit Margin of VLK has grown nicely.
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
Compared to 5 years ago, VLK has more shares outstanding
Compared to 1 year ago, VLK has an improved debt to assets ratio.
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.
Looking at the Debt to FCF ratio, with a value of 41.46, VLK is in the better half of the industry, outperforming 63.89% 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.
VLK has a Debt to Equity ratio (1.45) which is in line with 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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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 9.27% over the past year.
The Earnings Per Share has been growing slightly by 5.54% on average over the past years.
Looking at the last year, VLK shows a small growth in Revenue. The Revenue has grown by 7.12% in the last 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 quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.40% yearly.
Based on estimates for the next years, VLK will show a small growth in Revenue. The Revenue will grow by 4.44% on average per year.
EPS Next Y-0.84%
EPS Next 2Y3.35%
EPS Next 3Y5.44%
EPS Next 5Y8.4%
Revenue Next Year3.41%
Revenue Next 2Y3.53%
Revenue Next 3Y4.1%
Revenue Next 5Y4.44%

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 accelerating.
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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3

4. Valuation

4.1 Price/Earnings Ratio

VLK is valuated rather expensively with a Price/Earnings ratio of 17.06.
Based on the Price/Earnings ratio, VLK is valued a bit cheaper than 62.96% of the companies in the same industry.
VLK's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.53.
VLK is valuated rather expensively with a Price/Forward Earnings ratio of 17.20.
68.52% of the companies in the same industry are more expensive than VLK, based on the Price/Forward Earnings ratio.
VLK's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.27.
Industry RankSector Rank
PE 17.06
Fwd PE 17.2
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

65.74% of the companies in the same industry are more expensive than VLK, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 47.61
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

With a Yearly Dividend Yield of 4.82%, VLK is a good candidate for dividend investing.
VLK's Dividend Yield is rather good when compared to the industry average which is at 6.26. VLK pays more dividend than 80.56% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.39, VLK pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.82%

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 (6/10/2025, 12:22:21 PM)

56.3

-0.2 (-0.35%)

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 Cap2.42B
Analysts82.86
Price Target52.8 (-6.22%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.82%
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)4.02%
PT rev (3m)5.29%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-6.9%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.07%
Valuation
Industry RankSector Rank
PE 17.06
Fwd PE 17.2
P/S 3.16
P/FCF 47.61
P/OCF 28.21
P/B 1.76
P/tB 2.27
EV/EBITDA N/A
EPS(TTM)3.3
EY5.86%
EPS(NY)3.27
Fwd EY5.81%
FCF(TTM)1.18
FCFY2.1%
OCF(TTM)2
OCFY3.55%
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 5Y8.4%
Revenue 1Y (TTM)7.12%
Revenue growth 3Y5.32%
Revenue growth 5Y3.15%
Sales Q2Q%2.91%
Revenue Next Year3.41%
Revenue Next 2Y3.53%
Revenue Next 3Y4.1%
Revenue Next 5Y4.44%
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%