VOPAK (VPK.AS) Fundamental Analysis & Valuation

AMS:VPK • NL0009432491

46.58 EUR
+0.82 (+1.79%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This VPK.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

VPK gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 71 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 is not valued too expensively and it also shows a decent growth rate. Finally VPK also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

6

1. VPK.AS Profitability Analysis

1.1 Basic Checks

  • In the past year VPK was profitable.
  • 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M 800M

1.2 Ratios

  • VPK's Return On Assets of 8.72% is amongst the best of the industry. VPK outperforms 90.14% of its industry peers.
  • Looking at the Return On Equity, with a value of 18.49%, VPK belongs to the top of the industry, outperforming 85.92% of the companies in the same industry.
  • With a Return On Invested Capital value of 4.75%, VPK is not doing good in the industry: 60.56% of the companies in the same industry are doing better.
  • The Average Return On Invested Capital over the past 3 years for VPK is below the industry average of 9.02%.
Industry RankSector Rank
ROA 8.72%
ROE 18.49%
ROIC 4.75%
ROA(3y)7.03%
ROA(5y)4.34%
ROE(3y)14.92%
ROE(5y)9.17%
ROIC(3y)5.51%
ROIC(5y)5.05%
VPK.AS Yearly ROA, ROE, ROICVPK.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 15 20

1.3 Margins

  • With an excellent Profit Margin value of 46.50%, VPK belongs to the best of the industry, outperforming 97.18% of the companies in the same industry.
  • In the last couple of years the Profit Margin of VPK has grown nicely.
  • With a decent Operating Margin value of 27.37%, VPK is doing good in the industry, outperforming 69.01% of the companies in the same industry.
  • VPK's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 27.37%
PM (TTM) 46.5%
GM N/A
OM growth 3Y3.62%
OM growth 5Y0.61%
PM growth 3YN/A
PM growth 5Y13.44%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. VPK.AS Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VPK is destroying value.
  • VPK has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for VPK has been reduced compared to 5 years ago.
  • VPK has a better debt/assets ratio than last year.
VPK.AS Yearly Shares OutstandingVPK.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • VPK has an Altman-Z score of 1.87. This is not the best score and indicates that VPK is in the grey zone with still only limited risk for bankruptcy at the moment.
  • VPK has a Altman-Z score (1.87) which is comparable to the rest of the industry.
  • VPK has a debt to FCF ratio of 5.20. This is a neutral value as VPK would need 5.20 years to pay back of all of its debts.
  • VPK has a Debt to FCF ratio of 5.20. This is in the better half of the industry: VPK outperforms 63.38% of its industry peers.
  • A Debt/Equity ratio of 0.83 indicates that VPK is somewhat dependend on debt financing.
  • VPK has a Debt to Equity ratio of 0.83. This is in the lower half of the industry: VPK underperforms 71.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 5.2
Altman-Z 1.87
ROIC/WACC0.69
WACC6.88%
VPK.AS Yearly LT Debt VS Equity VS FCFVPK.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

2.3 Liquidity

  • VPK has a Current Ratio of 0.90. 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 Current ratio, with a value of 0.90, VPK is doing worse than 81.69% of the companies in the same industry.
  • VPK has a Quick Ratio of 0.90. 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 0.90, VPK is doing worse than 63.38% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.9
Quick Ratio 0.9
VPK.AS Yearly Current Assets VS Current LiabilitesVPK.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. VPK.AS Growth Analysis

3.1 Past

  • VPK shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 55.77%, which is quite impressive.
  • Measured over the past 5 years, VPK shows a small growth in Earnings Per Share. The EPS has been growing by 1.53% on average per year.
  • The Revenue has decreased by -1.27% in the past year.
  • Measured over the past years, VPK shows a small growth in Revenue. The Revenue has been growing by 1.77% on average per year.
EPS 1Y (TTM)55.77%
EPS 3Y3.57%
EPS 5Y1.53%
EPS Q2Q%35.84%
Revenue 1Y (TTM)-1.27%
Revenue growth 3Y-1.69%
Revenue growth 5Y1.77%
Sales Q2Q%-6.63%

3.2 Future

  • Based on estimates for the next years, VPK will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.76% on average per year.
  • Based on estimates for the next years, VPK will show a decrease in Revenue. The Revenue will decrease by -2.52% on average per year.
EPS Next Y40.91%
EPS Next 2Y25.94%
EPS Next 3Y12.76%
EPS Next 5YN/A
Revenue Next Year1.22%
Revenue Next 2Y3.17%
Revenue Next 3Y-2.52%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
VPK.AS Yearly Revenue VS EstimatesVPK.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
VPK.AS Yearly EPS VS EstimatesVPK.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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6

4. VPK.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 17.85, the valuation of VPK can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of VPK is on the same level as its industry peers.
  • VPK is valuated rather cheaply when we compare the Price/Earnings ratio to 26.29, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 12.66 indicates a correct valuation of VPK.
  • 69.01% of the companies in the same industry are more expensive than VPK, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.57, VPK is valued a bit cheaper.
Industry RankSector Rank
PE 17.85
Fwd PE 12.66
VPK.AS Price Earnings VS Forward Price EarningsVPK.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, VPK is valued a bit more expensive than the industry average as 69.01% of the companies are valued more cheaply.
  • Based on the Price/Free Cash Flow ratio, VPK is valued cheaper than 81.69% of the companies in the same industry.
Industry RankSector Rank
P/FCF 9.98
EV/EBITDA 11.75
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 12.76% in the coming years.
PEG (NY)0.44
PEG (5Y)11.66
EPS Next 2Y25.94%
EPS Next 3Y12.76%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. VPK.AS Dividend Analysis

5.1 Amount

  • VPK has a Yearly Dividend Yield of 3.81%. Purely for dividend investing, there may be better candidates out there.
  • VPK's Dividend Yield is a higher than the industry average which is at 5.34.
  • Compared to an average S&P500 Dividend Yield of 1.82, VPK pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.81%

5.2 History

  • On average, the dividend of VPK grows each year by 6.73%, which is quite nice.
Dividend Growth(5Y)6.73%
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 2026 0.5 1 1.5

5.3 Sustainability

  • VPK pays out 30.68% of its income as dividend. This is a sustainable payout ratio.
  • VPK's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP30.68%
EPS Next 2Y25.94%
EPS Next 3Y12.76%
VPK.AS Yearly Income VS Free CF VS DividendVPK.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M
VPK.AS Dividend Payout.VPK.AS Dividend Payout, showing the Payout Ratio.VPK.AS Dividend Payout.PayoutRetained Earnings

More info and screens

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VPK.AS Fundamentals: All Metrics, Ratios and Statistics

VOPAK

AMS:VPK (3/6/2026, 7:00:00 PM)

46.58

+0.82 (+1.79%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-25
Earnings (Next)07-28
Inst Owners22.31%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap5.37B
Revenue(TTM)1.30B
Net Income(TTM)604.00M
Analysts76
Price Target50.66 (8.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.81%
Yearly Dividend1.6
Dividend Growth(5Y)6.73%
DP30.68%
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)-0.33%
PT rev (3m)-0.33%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.25%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)7.71%
Valuation
Industry RankSector Rank
PE 17.85
Fwd PE 12.66
P/S 4.13
P/FCF 9.98
P/OCF 5.96
P/B 1.64
P/tB 1.7
EV/EBITDA 11.75
EPS(TTM)2.61
EY5.6%
EPS(NY)3.68
Fwd EY7.9%
FCF(TTM)4.67
FCFY10.02%
OCF(TTM)7.81
OCFY16.77%
SpS11.27
BVpS28.34
TBVpS27.4
PEG (NY)0.44
PEG (5Y)11.66
Graham Number40.79
Profitability
Industry RankSector Rank
ROA 8.72%
ROE 18.49%
ROCE 5.6%
ROIC 4.75%
ROICexc 4.82%
ROICexgc 4.9%
OM 27.37%
PM (TTM) 46.5%
GM N/A
FCFM 41.43%
ROA(3y)7.03%
ROA(5y)4.34%
ROE(3y)14.92%
ROE(5y)9.17%
ROIC(3y)5.51%
ROIC(5y)5.05%
ROICexc(3y)5.63%
ROICexc(5y)5.14%
ROICexgc(3y)5.73%
ROICexgc(5y)5.23%
ROCE(3y)6.48%
ROCE(5y)6.04%
ROICexgc growth 3Y0.39%
ROICexgc growth 5Y0.43%
ROICexc growth 3Y0.42%
ROICexc growth 5Y0.6%
OM growth 3Y3.62%
OM growth 5Y0.61%
PM growth 3YN/A
PM growth 5Y13.44%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 5.2
Debt/EBITDA 4.03
Cap/Depr 114.85%
Cap/Sales 27.87%
Interest Coverage 2.57
Cash Conversion 134.2%
Profit Quality 89.09%
Current Ratio 0.9
Quick Ratio 0.9
Altman-Z 1.87
F-Score7
WACC6.88%
ROIC/WACC0.69
Cap/Depr(3y)117.41%
Cap/Depr(5y)124.41%
Cap/Sales(3y)27.48%
Cap/Sales(5y)30.58%
Profit Quality(3y)113.76%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)55.77%
EPS 3Y3.57%
EPS 5Y1.53%
EPS Q2Q%35.84%
EPS Next Y40.91%
EPS Next 2Y25.94%
EPS Next 3Y12.76%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.27%
Revenue growth 3Y-1.69%
Revenue growth 5Y1.77%
Sales Q2Q%-6.63%
Revenue Next Year1.22%
Revenue Next 2Y3.17%
Revenue Next 3Y-2.52%
Revenue Next 5YN/A
EBIT growth 1Y-10.95%
EBIT growth 3Y1.87%
EBIT growth 5Y2.38%
EBIT Next Year44.44%
EBIT Next 3Y3.25%
EBIT Next 5Y2.75%
FCF growth 1Y-7.48%
FCF growth 3Y8.84%
FCF growth 5Y33.75%
OCF growth 1Y-1.88%
OCF growth 3Y3.86%
OCF growth 5Y3.31%

VOPAK / VPK.AS FAQ

What is the ChartMill fundamental rating of VOPAK (VPK.AS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to VPK.AS.


What is the valuation status for VPK stock?

ChartMill assigns a valuation rating of 6 / 10 to VOPAK (VPK.AS). This can be considered as Fairly Valued.


Can you provide the profitability details for VOPAK?

VOPAK (VPK.AS) has a profitability rating of 6 / 10.


What is the valuation of VOPAK based on its PE and PB ratios?

The Price/Earnings (PE) ratio for VOPAK (VPK.AS) is 17.85 and the Price/Book (PB) ratio is 1.64.


How financially healthy is VOPAK?

The financial health rating of VOPAK (VPK.AS) is 3 / 10.