FLOW Stock Analysis: Flow Traders BV | AS
Capital Markets | AS, Netherlands | Market Cap: 1.042m EUR | 12M Return: -4.6% | BMG3602E1084 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.53M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.3 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.
Flow Traders is a Netherlands-based financial technology company that provides liquidity across exchange-traded products and other asset classes, including equities, fixed income, digital assets, commodities, and foreign exchange. It also serves institutional clients and partners in the digital asset ecosystem.
Founded in 2004 and headquartered in Amsterdam, the company operates in Europe, the Americas, and Asia. As a liquidity provider, it facilitates trading by quoting prices for financial products and stands within the financial services sector’s investment banking and brokerage industry.
- Market volatility drives ETP volumes, trading income, and earnings
- Competition and tighter spreads pressure market-making margins
- Digital-asset regulation shapes expansion into institutional crypto liquidity
| Net Income: 111.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.41 > 1.0 |
| NWC/Revenue: 1.76k% < 20% (prev 404.6%; Δ 1.36k% < -1%) |
| CFO/TA 0.03 > 3% & CFO 538.7m > Net Income 111.0m |
| Net Debt (4.58b) to EBITDA (191.4m): 23.91 < 3 |
| Current Ratio: 2.29 > 1.5 & < 3 |
| Outstanding Shares: last quarter (45.7m) vs 12m ago 3.30% < -2% |
| Gross Margin: 94.34% > 18% (prev 74.33%; Δ 20.01% > 0.5%) |
| Asset Turnover: 1.73% > 50% (prev 5.11%; Δ -3.38% > 0%) |
| Interest Coverage Ratio: 27.06 > 6 (EBIT TTM 170.5m / Interest Expense TTM 6.30m) |
| A: 0.27 (Total Current Assets 10.0b - Total Current Liabilities 4.38b) / Total Assets 21.2b |
| B: 0.04 (Retained Earnings 809.7m / Total Assets 21.2b) |
| C: 0.01 (EBIT TTM 170.5m / Avg Total Assets 18.5b) |
| D: 0.05 (Book Value of Equity 970.4m / Total Liabilities 20.3b) |
| Altman-Z'' = 1.98 = BBB |
| DSRI: 3.0 (Receivables 10.0b/7.04b, Revenue 319.9m/804.5m) |
| GMI: 0.79 (GM 74.33% / 94.34%) |
| AQI: 1.16 (AQ_t 0.53 / AQ_t-1 0.45) |
| SGI: 0.40 (Revenue 319.9m / 804.5m) |
| TATA: -0.02 (NI 111.0m - CFO 538.7m) / TA 21.2b) |
| Beneish M = -1.91 (Cap -4..+1) = B |
As of October 30, 2026, the stock is trading at EUR 23.84 with a total of 872,413 shares traded. Over the past week, the price has changed by -6.66%, over one month by -9.63%, over three months by -6.14% and over the past year by -4.64%.
Current recommended Stop Loss: 23.20 (which is 2.7% or 1.3 ATR below the current price).
Flow Traders BV has no consensus analysts rating.
P/E Trailing = 7.9865
P/E Forward = 8.3472
P/S = 1.2374
P/B = 1.1371
Revenue TTM = 319.9m EUR
EBIT TTM = 170.5m EUR
EBITDA TTM = 191.4m EUR
Long Term Debt = 203.8m EUR (estimated: total debt 4.58b - short term 4.38b)
Short Term Debt = 4.38b EUR (from shortTermDebt, last quarter)
Debt = 4.58b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.58b EUR (calculated: Debt 4.58b - CCE 6.92m)
Enterprise Value = 5.62b EUR (1.04b + Debt 4.58b - CCE 6.92m)
Interest Coverage Ratio = 27.06 (Ebit TTM 170.5m / Interest Expense TTM 6.30m)
EV/FCF = 51.85x (Enterprise Value 5.62b / FCF TTM 108.3m)
FCF Yield = 1.93% (FCF TTM 108.3m / Enterprise Value 5.62b)
FCF Margin = 33.87% (FCF TTM 108.3m / Revenue TTM 319.9m)
Net Margin = 34.70% (Net Income TTM 111.0m / Revenue TTM 319.9m)
Gross Margin = 94.34% ((Revenue TTM 319.9m - Cost of Revenue TTM 18.1m) / Revenue TTM)
Gross Margin QoQ = 78.45% (prev none%)
Tobins Q-Ratio = 0.26 (Enterprise Value 5.62b / Total Assets 21.2b)
Interest Expense / Debt = 0.14% (Interest Expense 6.30m / Debt 4.58b)
Taxrate = 44.83% (61.0m / 136.1m)
NOPAT = 94.1m (EBIT 170.5m * (1 - 44.83%))
Current Ratio = 0.71 (Total Current Assets 10.0b / Total Current Liabilities 14.1b)
Debt / Equity = 4.72 (Debt 4.58b / totalStockholderEquity, last quarter 970.4m)
Debt / EBITDA = 23.91 (Net Debt 4.58b / EBITDA 191.4m)
Debt / FCF = 42.24 (Net Debt 4.58b / FCF TTM 108.3m)
Total Stockholder Equity = 882.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.60% (Net Income 111.0m / Total Assets 21.2b)
RoE = 12.59% (Net Income TTM 111.0m / Total Stockholder Equity 882.0m)
RoCE = 15.70% (EBIT 170.5m / Capital Employed (Equity 882.0m + L.T.Debt 203.8m))
RoIC = 0.44% (NOPAT 94.1m / Invested Capital 21.2b)
WACC = 0.86% (E(1.04b)/V(5.62b) * Re(4.30%) + D(4.58b)/V(5.62b) * Rd(0.14%) * (1-Tc(0.45)))
Discount Rate = 4.30% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 53.01 | Cagr: 1.54%
[DCF] Terminal Value 73.10% ; FCFF base≈186.1m ; Y1≈163.2m ; Y5≈131.8m
[DCF] Fair Price = N/A (negative equity: EV 2.12b - Net Debt 4.58b = -2.46b; debt exceeds intrinsic value)
EPS Correlation: 80.12 | EPS CAGR: 43.80% | SUE: -0.26 | # QB: 0
Revenue Correlation: -31.47 | Revenue CAGR: -7.78% | SUE: 1.12 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.63 | Chg30d=-6.92% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=3.29 | Chg30d=-10.73% | Revisions=+0% | GrowthEPS=+10.2% | GrowthRev=+18.2%
EPS next Year (2027-12-31): EPS=3.82 | Chg30d=+4.46% | Revisions=+17% | GrowthEPS=+16.4% | GrowthRev=+7.8%
[Analyst] Revisions Ratio: +0% (up=2, down=2)