VLK Stock Analysis: Van Lanschot | AS
Banks - Regional | AS, Netherlands | Market Cap: 2.930m EUR | 12M Return: 42.1% | NL0000302636 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.54M
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Van Lanschot Kempen NV is a Dutch financial services group founded in 1737 and headquartered in s-Hertogenbosch, operating across the Netherlands, Belgium, and internationally through four segments: Private Clients Netherlands, Private Clients Belgium, Investment Management Clients, and Investment Banking Clients. The company serves entrepreneurs, family businesses, high-net-worth individuals, executives, foundations, and institutional clients such as pension funds, offering private banking, wealth management, an online investment platform, and owned funds-related services. Its specialist activities include equities research and trading, M&A advisory, equity capital market transactions, and debt advisory for corporate and institutional investors, supported by risk management and structured products operations. Listed on Euronext Amsterdam as a mid-cap stock, Van Lanschot Kempen is positioned within the regional banks sub-industry of the financials sector, reflecting its core focus on wealth and private banking rather than mass-market retail lending.
- Net interest margins pressured by ECB rate cuts
- Investment management fees track equity market performance
- M&A advisory revenue rebounds with deal market recovery
| Net Income: 177.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 2.12 > 1.0 |
| NWC/Revenue: -913.6% < 20% (prev -1.46k%; Δ 546.0% < -1%) |
| CFO/TA 0.03 > 3% & CFO 469.8m > Net Income 177.7m |
| Net Debt (855.3m) to EBITDA (195.7m): 4.37 < 3 |
| Current Ratio: 0.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (42.7m) vs 12m ago 0.78% < -2% |
| Gross Margin: 64.42% > 18% (prev 33.08%; Δ 31.34% > 0.5%) |
| Asset Turnover: 7.40% > 50% (prev 4.43%; Δ 2.96% > 0%) |
| Interest Coverage Ratio: 0.31 > 6 (EBIT TTM 138.9m / Interest Expense TTM 444.1m) |
| A: -0.66 (Total Current Assets 1.78b - Total Current Liabilities 13.2b) / Total Assets 17.4b |
| B: 0.00 (Retained Earnings 83.7m / Total Assets 17.4b) |
| C: 0.01 (EBIT TTM 138.9m / Avg Total Assets 17.0b) |
| D: 0.08 (Book Value of Equity 1.30b / Total Liabilities 16.1b) |
| Altman-Z'' = -4.17 = D |
| DSRI: 0.10 (Receivables 290k/155.3m, Revenue 1.25b/733.8m) |
| GMI: 0.51 (GM 33.08% / 64.42%) |
| AQI: 1.01 (AQ_t 0.89 / AQ_t-1 0.89) |
| SGI: 1.71 (Revenue 1.25b / 733.8m) |
| TATA: -0.02 (NI 177.7m - CFO 469.8m) / TA 17.4b) |
| Beneish M = -3.70 (Cap -4..+1) = AAA |
As of September 27, 2026, the stock is trading at EUR 67.25 with a total of 39,483 shares traded. Over the past week, the price has changed by -3.10%, over one month by +2.91%, over three months by +0.52% and over the past year by +42.13%.
Current recommended Stop Loss: 65.70 (which is 2.3% or 1.2 ATR below the current price).
Van Lanschot has no consensus analysts rating.
P/E Trailing = 17.6142
P/E Forward = 13.986
P/S = 3.6412
P/B = 2.251
P/EG = 0.3074
Revenue TTM = 1.25b EUR
EBIT TTM = 138.9m EUR
EBITDA TTM = 195.7m EUR
Long Term Debt = unknown (none)
Short Term Debt = 566.0m EUR (from shortTermDebt, last fiscal year)
Debt = 2.63b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 855.3m EUR (calculated: Debt 2.63b - CCE 1.78b)
Enterprise Value = 3.79b EUR (2.93b + Debt 2.63b - CCE 1.78b)
Interest Coverage Ratio = 0.31 (Ebit TTM 138.9m / Interest Expense TTM 444.1m)
EV/FCF = 8.74x (Enterprise Value 3.79b / FCF TTM 432.9m)
FCF Yield = 11.44% (FCF TTM 432.9m / Enterprise Value 3.79b)
FCF Margin = 34.52% (FCF TTM 432.9m / Revenue TTM 1.25b)
Net Margin = 14.17% (Net Income TTM 177.7m / Revenue TTM 1.25b)
Gross Margin = 64.42% ((Revenue TTM 1.25b - Cost of Revenue TTM 446.3m) / Revenue TTM)
Gross Margin QoQ = 66.78% (prev 62.11%)
Tobins Q-Ratio = 0.22 (Enterprise Value 3.79b / Total Assets 17.4b)
Interest Expense / Debt = 16.87% (Interest Expense 444.1m / Debt 2.63b)
Taxrate = 27.96% (64.6m / 230.8m)
NOPAT = 100.0m (EBIT 138.9m * (1 - 27.96%))
Current Ratio = 0.13 (Total Current Assets 1.78b / Total Current Liabilities 13.2b)
Debt / Equity = 2.02 (Debt 2.63b / totalStockholderEquity, last quarter 1.30b)
Debt / EBITDA = 4.37 (Net Debt 855.3m / EBITDA 195.7m)
Debt / FCF = 1.98 (Net Debt 855.3m / FCF TTM 432.9m)
Total Stockholder Equity = 1.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.05% (Net Income 177.7m / Total Assets 17.4b)
RoE = 13.58% (Net Income TTM 177.7m / Total Stockholder Equity 1.31b)
RoCE = 3.36% (EBIT 138.9m / Capital Employed (Total Assets 17.4b - Current Liab 13.2b))
RoIC = 2.16% (NOPAT 100.0m / Invested Capital 4.63b)
WACC = 9.79% (E(2.93b)/V(5.56b) * Re(7.67%) + D(2.63b)/V(5.56b) * Rd(16.87%) * (1-Tc(0.28)))
Discount Rate = 7.67% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 2.19 | Cagr: -1.54%
[DCF] Terminal Value 73.45% ; FCFF base≈284.7m ; Y1≈326.3m ; Y5≈480.3m
[DCF] Fair Price = 116.2 (EV 5.76b - Net Debt 855.3m = Equity 4.91b / Shares 42.2m; r=9.79% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 95.73 | Revenue CAGR: 37.29% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.54 | Chg30d=+6.31% | Revisions=+50% | GrowthEPS=+16.4% | GrowthRev=+13.2%
EPS next Year (2027-12-31): EPS=4.81 | Chg30d=+7.62% | Revisions=+50% | GrowthEPS=+5.9% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: +67% (up=6, down=0)