(FLOW) Flow Traders BV - Ratings and Ratios
Exchange: AS •
Country: Netherlands •
Currency: EUR •
Type: Common Stock •
ISIN: BMG3602E1084
Liquidity, ETPs, Institutional Services, Digital Assets
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 28.2% |
| Value at Risk 5%th | 35.9% |
| Relative Tail Risk | -22.55% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.38 |
| Alpha | 11.67 |
| CAGR/Max DD | 0.10 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.275 |
| Beta | -0.081 |
| Beta Downside | -0.231 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.79% |
| Mean DD | 19.44% |
| Median DD | 20.29% |
Description: FLOW Flow Traders BV November 15, 2025
Flow Traders BV (AS: FLOW) is a technology-driven market-making firm that provides multi-asset class liquidity across Europe, the Americas and Asia. Founded in 2004 and headquartered in Amsterdam, the company trades exchange-traded products, offers institutional-grade liquidity services and has expanded into the digital-asset ecosystem as a strategic partner.
Key operating metrics (as of FY 2023) include ≈ €1.2 bn in net revenue, a 23 % EBIT margin and an average daily trading volume of about €30 bn, reflecting its position among the top global liquidity providers. The business is highly sensitive to market volatility and regulatory frameworks that affect electronic trading, while the rapid growth of crypto-derived products has become a material driver of incremental volume.
Investors interested in a data-rich, independent evaluation should consult ValueRay for a granular breakdown of Flow Traders’ risk-adjusted performance and peer comparisons.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (63.9m TTM) > 0 and > 6% of Revenue (6% = 33.2m TTM) |
| FCFTA 0.00 (>2.0%) and ΔFCFTA 0.04pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -1235 % (prev -1878 %; Δ 642.9pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.00 (>3.0%) and CFO 32.1m <= Net Income 63.9m (YES >=105%, WARN >=100%) |
| Net Debt (3.05b) to EBITDA (187.1m) ratio: 16.28 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.00 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (43.1m) change vs 12m ago -4.29% (target <= -2.0% for YES) |
| Gross Margin 88.52% (prev 42.57%; Δ 45.95pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 3.74% (prev 1.63%; Δ 2.10pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.89 (EBITDA TTM 187.1m / Interest Expense TTM 87.6m) >= 6 (WARN >= 3) |
Altman Z'' -2.59
| (A) -0.43 = (Total Current Assets 8.13m - Total Current Liabilities 6.85b) / Total Assets 15.74b |
| (B) 0.04 = Retained Earnings (Balance) 670.0m / Total Assets 15.74b |
| (C) 0.01 = EBIT TTM 165.3m / Avg Total Assets 14.83b |
| (D) 0.04 = Book Value of Equity 670.0m / Total Liabilities 14.92b |
| Total Rating: -2.59 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 45.60
| 1. Piotroski 3.0pt |
| 2. FCF Yield 2.41% |
| 3. FCF Margin 4.60% |
| 4. Debt/Equity data missing |
| 5. Debt/Ebitda 16.28 |
| 6. ROIC - WACC (= -1.14)% |
| 7. RoE 9.09% |
| 8. Rev. Trend -30.26% |
| 9. EPS Trend 13.71% |
What is the price of FLOW shares?
As of January 02, 2026, the stock is trading at EUR 25.12 with a total of 64,346 shares traded.
Over the past week, the price has changed by +0.96%, over one month by +5.72%, over three months by -0.48% and over the past year by +13.97%.
Over the past week, the price has changed by +0.96%, over one month by +5.72%, over three months by -0.48% and over the past year by +13.97%.
Is FLOW a buy, sell or hold?
Flow Traders BV has no consensus analysts rating.
What are the forecasts/targets for the FLOW price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 28.7 | 14.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 24.5 | -2.5% |
FLOW Fundamental Data Overview December 29, 2025
Market Cap USD = 1.25b (1.07b EUR * 1.1746 EUR.USD)
Market Cap EUR = 1.07b (1.07b EUR * 1.0 EUR.EUR)
P/E Trailing = 5.8812
P/E Forward = 6.9348
P/S = 1.3909
P/B = 1.2992
Beta = 0.176
Revenue TTM = 554.0m EUR
EBIT TTM = 165.3m EUR
EBITDA TTM = 187.1m EUR
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = 3.05b EUR (from netDebt column, last quarter)
Enterprise Value = 1.06b EUR (1.07b + (null Debt) - CCE 8.13m)
Interest Coverage Ratio = 1.89 (Ebit TTM 165.3m / Interest Expense TTM 87.6m)
FCF Yield = 2.41% (FCF TTM 25.5m / Enterprise Value 1.06b)
FCF Margin = 4.60% (FCF TTM 25.5m / Revenue TTM 554.0m)
Net Margin = 11.53% (Net Income TTM 63.9m / Revenue TTM 554.0m)
Gross Margin = 88.52% ((Revenue TTM 554.0m - Cost of Revenue TTM 63.6m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 0.07 (Enterprise Value 1.06b / Total Assets 15.74b)
Interest Expense / Debt = unknown (Interest Expense 87.6m / Debt none)
Taxrate = 13.51% (1.00m / 7.40m)
NOPAT = 142.9m (EBIT 165.3m * (1 - 13.51%))
Current Ratio = 0.00 (Total Current Assets 8.13m / Total Current Liabilities 6.85b)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = 16.28 (Net Debt 3.05b / EBITDA 187.1m)
Debt / FCF = 119.5 (Net Debt 3.05b / FCF TTM 25.5m)
Total Stockholder Equity = 702.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.41% (Net Income 63.9m / Total Assets 15.74b)
RoE = 9.09% (Net Income TTM 63.9m / Total Stockholder Equity 702.7m)
RoCE = 1.86% (EBIT 165.3m / Capital Employed (Total Assets 15.74b - Current Liab 6.85b))
RoIC = 4.58% (NOPAT 142.9m / Invested Capital 3.12b)
WACC = 5.72% (E(1.07b)/V(1.07b) * Re(5.72%) + (debt-free company))
Discount Rate = 5.72% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 3.06%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈22.2m ; Y1≈27.4m ; Y5≈46.8m
Fair Price DCF = 18.47 (DCF Value 795.6m / Shares Outstanding 43.1m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 13.71 | EPS CAGR: -8.58% | SUE: -0.85 | # QB: 0
Revenue Correlation: -30.26 | Revenue CAGR: -27.83% | SUE: 2.11 | # QB: 1
EPS next Year (2026-12-31): EPS=3.54 | Chg30d=-0.020 | Revisions Net=+0 | Growth EPS=+13.4% | Growth Revenue=+8.0%
Market Cap EUR = 1.07b (1.07b EUR * 1.0 EUR.EUR)
P/E Trailing = 5.8812
P/E Forward = 6.9348
P/S = 1.3909
P/B = 1.2992
Beta = 0.176
Revenue TTM = 554.0m EUR
EBIT TTM = 165.3m EUR
EBITDA TTM = 187.1m EUR
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = 3.05b EUR (from netDebt column, last quarter)
Enterprise Value = 1.06b EUR (1.07b + (null Debt) - CCE 8.13m)
Interest Coverage Ratio = 1.89 (Ebit TTM 165.3m / Interest Expense TTM 87.6m)
FCF Yield = 2.41% (FCF TTM 25.5m / Enterprise Value 1.06b)
FCF Margin = 4.60% (FCF TTM 25.5m / Revenue TTM 554.0m)
Net Margin = 11.53% (Net Income TTM 63.9m / Revenue TTM 554.0m)
Gross Margin = 88.52% ((Revenue TTM 554.0m - Cost of Revenue TTM 63.6m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 0.07 (Enterprise Value 1.06b / Total Assets 15.74b)
Interest Expense / Debt = unknown (Interest Expense 87.6m / Debt none)
Taxrate = 13.51% (1.00m / 7.40m)
NOPAT = 142.9m (EBIT 165.3m * (1 - 13.51%))
Current Ratio = 0.00 (Total Current Assets 8.13m / Total Current Liabilities 6.85b)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = 16.28 (Net Debt 3.05b / EBITDA 187.1m)
Debt / FCF = 119.5 (Net Debt 3.05b / FCF TTM 25.5m)
Total Stockholder Equity = 702.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.41% (Net Income 63.9m / Total Assets 15.74b)
RoE = 9.09% (Net Income TTM 63.9m / Total Stockholder Equity 702.7m)
RoCE = 1.86% (EBIT 165.3m / Capital Employed (Total Assets 15.74b - Current Liab 6.85b))
RoIC = 4.58% (NOPAT 142.9m / Invested Capital 3.12b)
WACC = 5.72% (E(1.07b)/V(1.07b) * Re(5.72%) + (debt-free company))
Discount Rate = 5.72% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 3.06%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈22.2m ; Y1≈27.4m ; Y5≈46.8m
Fair Price DCF = 18.47 (DCF Value 795.6m / Shares Outstanding 43.1m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 13.71 | EPS CAGR: -8.58% | SUE: -0.85 | # QB: 0
Revenue Correlation: -30.26 | Revenue CAGR: -27.83% | SUE: 2.11 | # QB: 1
EPS next Year (2026-12-31): EPS=3.54 | Chg30d=-0.020 | Revisions Net=+0 | Growth EPS=+13.4% | Growth Revenue=+8.0%