(BAMNB) Koninklijke BAM Groep - AS
Sector: Industrials | Industry: Engineering & Construction | Exchange: AS (Netherlands) | Market Cap: 3.226m EUR | Total Return: 77.9% in 12m
Avg Turnover: 12.7M
Warnings
Tailwinds
Seasonality
Koninklijke BAM Groep nv is a Dutch construction company, founded in 1869 and headquartered in Bunnik, the Netherlands. It operates across the Netherlands, the United Kingdom, Ireland, Germany, and Belgium, offering products and services in two main areas: construction and property (designing, building, and maintaining sustainable buildings, homes, and property developments) and civil engineering (infrastructure projects for public and private clients). The company also provides ongoing maintenance and service contracts, giving it recurring revenue alongside its project-based work.
As a player in the Construction & Engineering sub-industry, BAM operates in a sector characterized by long project cycles, fixed-price contracts, and exposure to input cost volatility for materials such as steel, concrete, and energy. Its combination of new-build construction, property development, and recurring maintenance work provides some diversification across the building lifecycle, though profitability in the sector typically depends heavily on project execution, order book conversion, and public infrastructure spending trends in its core European markets.
- UK construction order book growth supports revenue recovery
- Dutch infrastructure spending boosts Netherlands segment backlog
- Input cost inflation pressures European construction margins
| Net Income: 211.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -0.51 > 1.0 |
| NWC/Revenue: -0.76% < 20% (prev -0.91%; Δ 0.15% < -1%) |
| CFO/TA 0.08 > 3% & CFO 344.7m > Net Income 211.0m |
| Net Debt (-210.9m) to EBITDA (364.7m): -0.58 < 3 |
| Current Ratio: 0.98 > 1.5 & < 3 |
| Outstanding Shares: last quarter (260.7m) vs 12m ago -5.26% < -2% |
| Gross Margin: 16.69% > 18% (prev 16.47%; Δ 0.22% > 0.5%) |
| Asset Turnover: 176.2% > 50% (prev 165.9%; Δ 10.27% > 0%) |
| Interest Coverage Ratio: 13.26 > 6 (EBIT TTM 206.9m / Interest Expense TTM 15.6m) |
| A: -0.01 (Total Current Assets 2.73b - Total Current Liabilities 2.78b) / Total Assets 4.10b |
| B: 0.05 (Retained Earnings 209.7m / Total Assets 4.10b) |
| C: 0.05 (EBIT TTM 206.9m / Avg Total Assets 4.00b) |
| D: 0.30 (Book Value of Equity 958.0m / Total Liabilities 3.14b) |
| Altman-Z'' = 0.75 = B |
| DSRI: 0.95 (Receivables 1.31b/1.26b, Revenue 7.04b/6.45b) |
| GMI: 0.99 (GM 16.47% / 16.69%) |
| AQI: 0.99 (AQ_t 0.20 / AQ_t-1 0.21) |
| SGI: 1.09 (Revenue 7.04b / 6.45b) |
| TATA: -0.03 (NI 211.0m - CFO 344.7m) / TA 4.10b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of June 28, 2026, the stock is trading at EUR 12.55 with a total of 544,283 shares traded. Over the past week, the price has changed by +1.05%, over one month by +28.72%, over three months by +46.11% and over the past year by +77.92%.
Current recommended Stop Loss: 12.00 (which is 4.4% or 1.4 ATR below the current price).
Koninklijke BAM Groep has no consensus analysts rating.
P/E Trailing = 15.525
P/E Forward = 14.6843
P/S = 0.4582
P/B = 3.3531
P/EG = 11.1111
Revenue TTM = 7.04b EUR
EBIT TTM = 206.9m EUR
EBITDA TTM = 364.7m EUR
Long Term Debt = 56.3m EUR (from longTermDebt, last quarter)
Short Term Debt = 135.0m EUR (from shortTermDebt, last quarter)
Debt = 672.5m EUR (from shortLongTermDebtTotal, last quarter) + Leases 290.8m
Net Debt = -210.9m EUR (calculated: Debt 672.5m - CCE 883.4m)
Enterprise Value = 3.01b EUR (3.23b + Debt 672.5m - CCE 883.4m)
Interest Coverage Ratio = 13.26 (Ebit TTM 206.9m / Interest Expense TTM 15.6m)
EV/FCF = 10.72x (Enterprise Value 3.01b / FCF TTM 281.2m)
FCF Yield = 9.33% (FCF TTM 281.2m / Enterprise Value 3.01b)
FCF Margin = 3.99% (FCF TTM 281.2m / Revenue TTM 7.04b)
Net Margin = 3.00% (Net Income TTM 211.0m / Revenue TTM 7.04b)
Gross Margin = 16.69% ((Revenue TTM 7.04b - Cost of Revenue TTM 5.86b) / Revenue TTM)
Gross Margin QoQ = 6.37% (prev 27.87%)
Tobins Q-Ratio = 0.74 (Enterprise Value 3.01b / Total Assets 4.10b)
Interest Expense / Debt = 2.32% (Interest Expense 15.6m / Debt 672.5m)
Taxrate = 15.09% (37.5m / 248.5m)
NOPAT = 175.7m (EBIT 206.9m * (1 - 15.09%))
Current Ratio = 0.98 (Total Current Assets 2.73b / Total Current Liabilities 2.78b)
Debt / Equity = 0.70 (Debt 672.5m / totalStockholderEquity, last quarter 958.0m)
Debt / EBITDA = -0.58 (Net Debt -210.9m / EBITDA 364.7m)
Debt / FCF = -0.75 (Net Debt -210.9m / FCF TTM 281.2m)
Total Stockholder Equity = 920.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.28% (Net Income 211.0m / Total Assets 4.10b)
RoE = 22.91% (Net Income TTM 211.0m / Total Stockholder Equity 920.9m)
RoCE = 21.17% (EBIT 206.9m / Capital Employed (Equity 920.9m + L.T.Debt 56.3m))
RoIC = 15.91% (NOPAT 175.7m / Invested Capital 1.10b)
WACC = 7.08% (E(3.23b)/V(3.90b) * Re(8.15%) + D(672.5m)/V(3.90b) * Rd(2.32%) * (1-Tc(0.15)))
Discount Rate = 8.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -44.95 | Cagr: -2.78%
[DCF] Terminal Value 75.19% ; FCFF base≈283.3m ; Y1≈280.1m ; Y5≈287.5m
[DCF] Fair Price = 18.27 (EV 4.49b - Net Debt -210.9m = Equity 4.70b / Shares 257.2m; r=8.35% [WACC [floored]]; 5y FCF grow -1.86% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 96.09 | Revenue CAGR: 5.96% | SUE: 0.30 | # QB: 0
EPS current Year (2026-12-31): EPS=0.92 | Chg30d=-0.03% | Revisions=+0% | GrowthEPS=+11.5% | GrowthRev=+3.3%
EPS next Year (2027-12-31): EPS=1.00 | Chg30d=+2.23% | Revisions=+33% | GrowthEPS=+8.4% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: +33%