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VOPAK (VPK.AS) Stock Fundamental Analysis

AMS:VPK - Euronext Amsterdam - NL0009432491 - Common Stock - Currency: EUR

41.32  -0.02 (-0.05%)

Fundamental Rating

4

VPK gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 60 industry peers in the Oil, Gas & Consumable Fuels industry. While VPK is still in line with the averages on profitability rating, there are concerns on its financial health. VPK has a valuation in line with the averages, but on the other hand it scores bad on growth. VPK also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

VPK had positive earnings in the past year.
VPK had a positive operating cash flow in the past year.
Of the past 5 years VPK 4 years were profitable.
VPK had a positive operating cash flow in each of the past 5 years.
VPK.AS Yearly Net Income VS EBIT VS OCF VS FCFVPK.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

1.2 Ratios

The Return On Assets of VPK (8.54%) is better than 76.67% of its industry peers.
VPK's Return On Equity of 18.75% is fine compared to the rest of the industry. VPK outperforms 70.00% of its industry peers.
The Return On Invested Capital of VPK (8.55%) is better than 65.00% of its industry peers.
VPK had an Average Return On Invested Capital over the past 3 years of 5.46%. This is significantly below the industry average of 14.91%.
The 3 year average ROIC (5.46%) for VPK is below the current ROIC(8.55%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 8.54%
ROE 18.75%
ROIC 8.55%
ROA(3y)3.32%
ROA(5y)3.5%
ROE(3y)6.88%
ROE(5y)7.46%
ROIC(3y)5.46%
ROIC(5y)4.98%
VPK.AS Yearly ROA, ROE, ROICVPK.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15 20

1.3 Margins

VPK has a better Profit Margin (29.50%) than 88.33% of its industry peers.
In the last couple of years the Profit Margin of VPK has declined.
The Operating Margin of VPK (30.74%) is better than 68.33% of its industry peers.
In the last couple of years the Operating Margin of VPK has remained more or less at the same level.
Industry RankSector Rank
OM 30.74%
PM (TTM) 29.5%
GM N/A
OM growth 3Y6.79%
OM growth 5Y1.09%
PM growth 3Y17.86%
PM growth 5Y-8.93%
GM growth 3YN/A
GM growth 5YN/A
VPK.AS Yearly Profit, Operating, Gross MarginsVPK.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so VPK is still creating some value.
Compared to 1 year ago, VPK has less shares outstanding
The number of shares outstanding for VPK has been reduced compared to 5 years ago.
The debt/assets ratio for VPK is higher compared to a year ago.
VPK.AS Yearly Shares OutstandingVPK.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
VPK.AS Yearly Total Debt VS Total AssetsVPK.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

2.2 Solvency

An Altman-Z score of 1.94 indicates that VPK is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 1.94, VPK perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
The Debt to FCF ratio of VPK is 4.76, which is a neutral value as it means it would take VPK, 4.76 years of fcf income to pay off all of its debts.
VPK has a Debt to FCF ratio of 4.76. This is in the better half of the industry: VPK outperforms 65.00% of its industry peers.
A Debt/Equity ratio of 0.79 indicates that VPK is somewhat dependend on debt financing.
VPK has a worse Debt to Equity ratio (0.79) than 68.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.76
Altman-Z 1.94
ROIC/WACC1.22
WACC7%
VPK.AS Yearly LT Debt VS Equity VS FCFVPK.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

A Current Ratio of 0.61 indicates that VPK may have some problems paying its short term obligations.
VPK has a worse Current ratio (0.61) than 96.67% of its industry peers.
VPK has a Quick Ratio of 0.61. This is a bad value and indicates that VPK is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.61, VPK is doing worse than 91.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.61
VPK.AS Yearly Current Assets VS Current LiabilitesVPK.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The earnings per share for VPK have decreased strongly by -14.15% in the last year.
Measured over the past years, VPK shows a decrease in Earnings Per Share. The EPS has been decreasing by -6.97% on average per year.
VPK shows a decrease in Revenue. In the last year, the revenue decreased by -7.72%.
Measured over the past years, VPK shows a small growth in Revenue. The Revenue has been growing by 0.99% on average per year.
EPS 1Y (TTM)-14.15%
EPS 3Y-10.91%
EPS 5Y-6.97%
EPS Q2Q%N/A
Revenue 1Y (TTM)-7.72%
Revenue growth 3Y2.33%
Revenue growth 5Y0.99%
Sales Q2Q%-7.65%

3.2 Future

Based on estimates for the next years, VPK will show a very strong growth in Earnings Per Share. The EPS will grow by 22.24% on average per year.
Based on estimates for the next years, VPK will show a small growth in Revenue. The Revenue will grow by 0.50% on average per year.
EPS Next Y115.13%
EPS Next 2Y51.4%
EPS Next 3Y34.77%
EPS Next 5Y22.24%
Revenue Next Year2.69%
Revenue Next 2Y2.87%
Revenue Next 3Y2.59%
Revenue Next 5Y0.5%

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 decreasing: in the next years the growth will be less than in the last years.
VPK.AS Yearly Revenue VS EstimatesVPK.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B
VPK.AS Yearly EPS VS EstimatesVPK.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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5

4. Valuation

4.1 Price/Earnings Ratio

VPK is valuated rather expensively with a Price/Earnings ratio of 24.60.
71.67% of the companies in the same industry are cheaper than VPK, based on the Price/Earnings ratio.
VPK is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 10.75 indicates a reasonable valuation of VPK.
Compared to the rest of the industry, the Price/Forward Earnings ratio of VPK is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 35.19. VPK is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 24.6
Fwd PE 10.75
VPK.AS Price Earnings VS Forward Price EarningsVPK.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

66.67% of the companies in the same industry are cheaper than VPK, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, VPK is valued a bit cheaper than 73.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.37
EV/EBITDA 8.14
VPK.AS Per share dataVPK.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

VPK's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of VPK may justify a higher PE ratio.
A more expensive valuation may be justified as VPK's earnings are expected to grow with 34.77% in the coming years.
PEG (NY)0.21
PEG (5Y)N/A
EPS Next 2Y51.4%
EPS Next 3Y34.77%

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7

5. Dividend

5.1 Amount

VPK has a Yearly Dividend Yield of 3.90%.
VPK's Dividend Yield is comparable with the industry average which is at 58.69.
VPK's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 3.9%

5.2 History

The dividend of VPK is nicely growing with an annual growth rate of 6.60%!
Dividend Growth(5Y)6.6%
Div Incr Years6
Div Non Decr Years6
VPK.AS Yearly Dividends per shareVPK.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

VPK pays out 31.59% of its income as dividend. This is a sustainable payout ratio.
The dividend of VPK is growing, but earnings are growing more, so the dividend growth is sustainable.
DP31.59%
EPS Next 2Y51.4%
EPS Next 3Y34.77%
VPK.AS Yearly Income VS Free CF VS DividendVPK.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
VPK.AS Dividend Payout.VPK.AS Dividend Payout, showing the Payout Ratio.VPK.AS Dividend Payout.PayoutRetained Earnings

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VOPAK

AMS:VPK (7/14/2025, 4:13:15 PM)

41.32

-0.02 (-0.05%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)04-23 2025-04-23/bmo
Earnings (Next)07-30 2025-07-30
Inst Owners23.65%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap4.87B
Analysts76
Price Target49.54 (19.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.9%
Yearly Dividend1.51
Dividend Growth(5Y)6.6%
DP31.59%
Div Incr Years6
Div Non Decr Years6
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)2.46%
PT rev (3m)5.24%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 24.6
Fwd PE 10.75
P/S 2.47
P/FCF 8.37
P/OCF 5.31
P/B 1.57
P/tB 1.63
EV/EBITDA 8.14
EPS(TTM)1.68
EY4.07%
EPS(NY)3.84
Fwd EY9.3%
FCF(TTM)4.94
FCFY11.95%
OCF(TTM)7.79
OCFY18.84%
SpS16.71
BVpS26.29
TBVpS25.41
PEG (NY)0.21
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 8.54%
ROE 18.75%
ROCE 10.21%
ROIC 8.55%
ROICexc 8.69%
ROICexgc 8.84%
OM 30.74%
PM (TTM) 29.5%
GM N/A
FCFM 29.54%
ROA(3y)3.32%
ROA(5y)3.5%
ROE(3y)6.88%
ROE(5y)7.46%
ROIC(3y)5.46%
ROIC(5y)4.98%
ROICexc(3y)5.57%
ROICexc(5y)5.07%
ROICexgc(3y)5.67%
ROICexgc(5y)5.17%
ROCE(3y)6.53%
ROCE(5y)6.03%
ROICexcg growth 3Y12.64%
ROICexcg growth 5Y0.13%
ROICexc growth 3Y12.64%
ROICexc growth 5Y0.39%
OM growth 3Y6.79%
OM growth 5Y1.09%
PM growth 3Y17.86%
PM growth 5Y-8.93%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.76
Debt/EBITDA 2.69
Cap/Depr 109.21%
Cap/Sales 17.05%
Interest Coverage 5.09
Cash Conversion 100.5%
Profit Quality 100.14%
Current Ratio 0.61
Quick Ratio 0.61
Altman-Z 1.94
F-Score4
WACC7%
ROIC/WACC1.22
Cap/Depr(3y)116.99%
Cap/Depr(5y)144.62%
Cap/Sales(3y)27.6%
Cap/Sales(5y)35.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.15%
EPS 3Y-10.91%
EPS 5Y-6.97%
EPS Q2Q%N/A
EPS Next Y115.13%
EPS Next 2Y51.4%
EPS Next 3Y34.77%
EPS Next 5Y22.24%
Revenue 1Y (TTM)-7.72%
Revenue growth 3Y2.33%
Revenue growth 5Y0.99%
Sales Q2Q%-7.65%
Revenue Next Year2.69%
Revenue Next 2Y2.87%
Revenue Next 3Y2.59%
Revenue Next 5Y0.5%
EBIT growth 1Y1.49%
EBIT growth 3Y9.28%
EBIT growth 5Y2.09%
EBIT Next Year30.7%
EBIT Next 3Y12.95%
EBIT Next 5Y2.23%
FCF growth 1Y31.05%
FCF growth 3Y52.65%
FCF growth 5Y87.95%
OCF growth 1Y6.94%
OCF growth 3Y10.39%
OCF growth 5Y7.33%