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VOPAK (VPK.AS) Stock Fundamental Analysis

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

40.66  -0.12 (-0.29%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to VPK. VPK was compared to 59 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of VPK while its profitability can be described as average. VPK has a valuation in line with the averages, but it does not seem to be growing. Finally VPK also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year VPK was profitable.
In the past year VPK had a positive cash flow from operations.
VPK had positive earnings in 4 of the past 5 years.
Each year in the past 5 years VPK had a positive operating cash flow.
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

Looking at the Return On Assets, with a value of 8.54%, VPK is in the better half of the industry, outperforming 67.80% of the companies in the same industry.
VPK has a better Return On Equity (18.75%) than 62.71% of its industry peers.
The Return On Invested Capital of VPK (8.55%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for VPK is significantly below the industry average of 12.21%.
The last Return On Invested Capital (8.55%) for VPK is above the 3 year average (5.46%), which is a sign of increasing profitability.
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's Profit Margin of 29.50% is amongst the best of the industry. VPK outperforms 81.36% of its industry peers.
VPK's Profit Margin has declined in the last couple of years.
The Operating Margin of VPK (30.74%) is better than 67.80% of its industry peers.
VPK's Operating Margin has been stable in the last couple of years.
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

VPK has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for VPK has been reduced compared to 1 year ago.
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 1.93 indicates that VPK is not a great score, but indicates only limited risk for bankruptcy at the moment.
VPK has a Altman-Z score (1.93) which is comparable to the rest of the 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.
Looking at the Debt to FCF ratio, with a value of 4.76, VPK is in the better half of the industry, outperforming 62.71% of the companies in the same industry.
A Debt/Equity ratio of 0.79 indicates that VPK is somewhat dependend on debt financing.
VPK's Debt to Equity ratio of 0.79 is on the low side compared to the rest of the industry. VPK is outperformed by 71.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 4.76
Altman-Z 1.93
ROIC/WACC1.38
WACC6.21%
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

VPK has a Current 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.
With a Current ratio value of 0.61, VPK is not doing good in the industry: 91.53% of the companies in the same industry are doing better.
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.
VPK's Quick ratio of 0.61 is on the low side compared to the rest of the industry. VPK is outperformed by 88.14% of its industry peers.
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

VPK shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -14.59%.
The Earnings Per Share has been decreasing by -6.97% on average over the past years.
The Revenue has decreased by -7.97% in the past year.
VPK shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.99% yearly.
EPS 1Y (TTM)-14.59%
EPS 3Y-10.91%
EPS 5Y-6.97%
EPS Q2Q%-25.26%
Revenue 1Y (TTM)-7.97%
Revenue growth 3Y2.33%
Revenue growth 5Y0.99%
Sales Q2Q%-51.08%

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 Y117.24%
EPS Next 2Y51.92%
EPS Next 3Y35.3%
EPS Next 5Y22.24%
Revenue Next Year2.69%
Revenue Next 2Y2.83%
Revenue Next 3Y2.57%
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 2016 2018 2020 2022 2024 2026 2028 2030 2032 500M 1B
VPK.AS Yearly EPS VS EstimatesVPK.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1 2 3 4

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 24.20, VPK is valued on the expensive side.
Based on the Price/Earnings ratio, VPK is valued a bit more expensive than the industry average as 72.88% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 28.81, VPK is valued at the same level.
The Price/Forward Earnings ratio is 11.17, which indicates a very decent valuation of VPK.
VPK's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of VPK to the average of the S&P500 Index (21.91), we can say VPK is valued slightly cheaper.
Industry RankSector Rank
PE 24.2
Fwd PE 11.17
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

VPK's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. VPK is more expensive than 66.10% of the companies in the same industry.
69.49% of the companies in the same industry are more expensive than VPK, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.24
EV/EBITDA 8.07
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.
A more expensive valuation may be justified as VPK's earnings are expected to grow with 35.30% in the coming years.
PEG (NY)0.21
PEG (5Y)N/A
EPS Next 2Y51.92%
EPS Next 3Y35.3%

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8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.06%, VPK is a good candidate for dividend investing.
VPK's Dividend Yield is comparable with the industry average which is at 64.20.
VPK's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
Industry RankSector Rank
Dividend Yield 4.06%

5.2 History

On average, the dividend of VPK grows each year by 6.60%, which is quite nice.
Dividend Growth(5Y)6.6%
Div Incr Years5
Div Non Decr Years5
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

31.59% of the earnings are spent on dividend by VPK. This is a low number and sustainable payout ratio.
VPK's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP31.59%
EPS Next 2Y51.92%
EPS Next 3Y35.3%
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 (3/28/2025, 12:00:00 PM)

40.66

-0.12 (-0.29%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-19 2025-02-19/bmo
Earnings (Next)04-23 2025-04-23
Inst Owners26.76%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap4.79B
Analysts76
Price Target47.07 (15.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.06%
Yearly Dividend1.51
Dividend Growth(5Y)6.6%
DP31.59%
Div Incr Years5
Div Non Decr Years5
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)1.47%
PT rev (3m)1.47%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.17%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.18%
Valuation
Industry RankSector Rank
PE 24.2
Fwd PE 11.17
P/S 2.43
P/FCF 8.24
P/OCF 5.22
P/B 1.55
P/tB 1.6
EV/EBITDA 8.07
EPS(TTM)1.68
EY4.13%
EPS(NY)3.64
Fwd EY8.95%
FCF(TTM)4.94
FCFY12.14%
OCF(TTM)7.79
OCFY19.15%
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 1.93
F-Score4
WACC6.21%
ROIC/WACC1.38
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)-14.59%
EPS 3Y-10.91%
EPS 5Y-6.97%
EPS Q2Q%-25.26%
EPS Next Y117.24%
EPS Next 2Y51.92%
EPS Next 3Y35.3%
EPS Next 5Y22.24%
Revenue 1Y (TTM)-7.97%
Revenue growth 3Y2.33%
Revenue growth 5Y0.99%
Sales Q2Q%-51.08%
Revenue Next Year2.69%
Revenue Next 2Y2.83%
Revenue Next 3Y2.57%
Revenue Next 5Y0.5%
EBIT growth 1Y1.49%
EBIT growth 3Y9.28%
EBIT growth 5Y2.09%
EBIT Next Year59%
EBIT Next 3Y18.49%
EBIT Next 5Y5.62%
FCF growth 1Y31.05%
FCF growth 3Y52.65%
FCF growth 5Y87.95%
OCF growth 1Y6.94%
OCF growth 3Y10.39%
OCF growth 5Y7.33%