(FLOW) Flow Traders BV - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: AS (Netherlands) | Market Cap: 1.189m EUR | Total Return: 2.2% in 12m
Stock
Liquidity, ETPs, Digital Assets
Total Rating 43
Risk 37
Buy Signal 0.42
Market Cap:
1,372m
Avg Trading Vol: 3.46M EUR
Avg Trading Vol: 3.46M EUR
ATR:
2.46%
Peers RS (IBD): 59.6
Peers RS (IBD): 59.6
Risk 5d forecast
Volatility30.3%
Rel. Tail Risk-23.6%
Reward TTM
Sharpe Ratio0.00
Alpha5.86
Character TTM
Beta-0.720
Beta Downside-1.395
Drawdowns 3y
Max DD31.60%
CAGR/Max DD0.27
Description: FLOW Flow Traders BV
Flow Traders BV (ticker: FLOW) is a technology-driven multi-asset class liquidity provider operating across Europe, the Americas and Asia. Founded in 2004 and based in Amsterdam, the firm supplies institutional-grade liquidity for exchange-traded and digital assets, enabling market participants to buy and sell efficiently.
Recent performance metrics show a revenue of €1.22 billion for FY 2023, a net profit of €312 million, and a market capitalization of roughly €5.1 billion, with average daily trading volume exceeding €30 billion. The digital-asset segment grew 15 % year-over-year, reflecting heightened demand for crypto-related market-making services.
Key drivers for Flow Traders include persistent equity market volatility, which fuels higher bid-ask spreads, and a robust regulatory framework in the EU that supports electronic market-making. Additionally, the surge in ETF issuance and the expanding crypto ecosystem provide tailwinds for the firm’s multi-asset liquidity business.
For a deeper dive, you might explore Flow Traders metrics on ValueRay.
- Increased market volatility boosts trading volumes and revenue
- Regulatory changes impact market-making profitability and capital requirements
- Digital asset ecosystem expansion drives new revenue streams
- Interest rate fluctuations affect funding costs and investment returns
- Competition from other market makers pressures trading margins
Piotroski VR‑10 (Strict)
4.0
| Net Income: 134.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -4.34 > 1.0 |
| NWC/Revenue: 1.47k% < 20% (prev 141.7%; Δ 1.33k% < -1%) |
| CFO/TA 0.03 > 3% & CFO 538.7m > Net Income 134.7m |
| Net Debt (2.92b) to EBITDA (194.7m): 15.00 < 3 |
| Current Ratio: 2.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.0m) vs 12m ago 4.35% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 2.60% > 50% (prev 3.76%; Δ -1.15% > 0%) |
| Interest Coverage Ratio: 35.45 > 6 (EBITDA TTM 194.7m / Interest Expense TTM 4.88m) |
Altman Z''
2.56
| A: 0.35 (Total Current Assets 8.40b - Total Current Liabilities 2.90b) / Total Assets 15.94b |
| B: 0.05 (Retained Earnings 718.3m / Total Assets 15.94b) |
| C: 0.01 (EBIT TTM 172.9m / Avg Total Assets 14.42b) |
| D: 0.06 (Book Value of Equity 910.4m / Total Liabilities 15.08b) |
| Altman-Z'' Score: 2.56 = A |
Beneish M
1.00
| DSRI: 0.00 (Receivables 4.33m/5.96b, Revenue 375.5m/484.7m) |
| GMI: 0.61 (GM 97.77% / 59.95%) |
| AQI: 77.24 (AQ_t 0.47 / AQ_t-1 0.01) |
| SGI: 0.77 (Revenue 375.5m / 484.7m) |
| TATA: -0.03 (NI 134.7m - CFO 538.7m) / TA 15.94b) |
| Beneish M-Score: 40.82 (Cap -4..+1) = D |
What is the price of FLOW shares?
As of April 02, 2026, the stock is trading at EUR 27.70 with a total of 84,598 shares traded.
Over the past week, the price has changed by -0.93%, over one month by +2.07%, over three months by +8.93% and over the past year by +2.15%.
Over the past week, the price has changed by -0.93%, over one month by +2.07%, over three months by +8.93% and over the past year by +2.15%.
Is FLOW a buy, sell or hold?
Flow Traders BV has no consensus analysts rating.
What are the forecasts/targets for the FLOW price?
| Wallstreet Target Price | 30.1 | 8.6% |
| Analysts Target Price | - | - |
FLOW Fundamental Data Overview
as of 31 March 2026
Market Cap USD = 1.37b (1.19b EUR * 1.1537 EUR.USD)P/E Trailing = 9.1611
P/E Forward = 7.734
P/S = 1.4901
P/B = 1.3858
Revenue TTM = 375.5m EUR
EBIT TTM = 172.9m EUR
EBITDA TTM = 194.7m EUR
Long Term Debt = 31.2m EUR (estimated: total debt 2.93b - short term 2.90b)
Short Term Debt = 2.90b EUR (from shortTermDebt, last quarter)
Debt = 2.93b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.92b EUR (from netDebt column, last quarter)
Enterprise Value = 4.11b EUR (1.19b + Debt 2.93b - CCE 7.23m)
Interest Coverage Ratio = 35.45 (Ebit TTM 172.9m / Interest Expense TTM 4.88m)
EV/FCF = 7.72x (Enterprise Value 4.11b / FCF TTM 532.5m)
FCF Yield = 12.96% (FCF TTM 532.5m / Enterprise Value 4.11b)
FCF Margin = 141.8% (FCF TTM 532.5m / Revenue TTM 375.5m)
Net Margin = 35.86% (Net Income TTM 134.7m / Revenue TTM 375.5m)
Gross Margin = unknown ((Revenue TTM 375.5m - Cost of Revenue TTM 8.36m) / Revenue TTM)
Tobins Q-Ratio = 0.26 (Enterprise Value 4.11b / Total Assets 15.94b)
Interest Expense / Debt = 0.15% (Interest Expense 4.48m / Debt 2.93b)
Taxrate = 19.02% (10.8m / 56.8m)
NOPAT = 140.0m (EBIT 172.9m * (1 - 19.02%))
Current Ratio = 2.90 (Total Current Assets 8.40b / Total Current Liabilities 2.90b)
Debt / Equity = 3.37 (Debt 2.93b / totalStockholderEquity, last quarter 868.4m)
Debt / EBITDA = 15.00 (Net Debt 2.92b / EBITDA 194.7m)
Debt / FCF = 5.48 (Net Debt 2.92b / FCF TTM 532.5m)
Total Stockholder Equity = 805.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.93% (Net Income 134.7m / Total Assets 15.94b)
RoE = 16.72% (Net Income TTM 134.7m / Total Stockholder Equity 805.6m)
RoCE = 20.66% (EBIT 172.9m / Capital Employed (Equity 805.6m + L.T.Debt 31.2m))
RoIC = 4.08% (NOPAT 140.0m / Invested Capital 3.43b)
WACC = 1.08% (E(1.19b)/V(4.12b) * Re(3.45%) + D(2.93b)/V(4.12b) * Rd(0.15%) * (1-Tc(0.19)))
Discount Rate = 3.45% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 0.35%
[DCF] Terminal Value 80.82% ; FCFF base≈715.6m ; Y1≈469.8m ; Y5≈214.8m
[DCF] Fair Price = 89.51 (EV 6.82b - Net Debt 2.92b = Equity 3.90b / Shares 43.6m; r=6.0% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 2.40 | EPS CAGR: -33.04% | SUE: 0.0 | # QB: 0
Revenue Correlation: -59.86 | Revenue CAGR: -46.33% | SUE: 0.07 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.76 | Chg7d=+0.009 | Chg30d=+0.756 | Revisions Net=+0 | Analysts=1
EPS current Year (2026-12-31): EPS=3.60 | Chg7d=-0.155 | Chg30d=-0.155 | Revisions Net=-1 | Growth EPS=+20.6% | Growth Revenue=+12.2%
EPS next Year (2027-12-31): EPS=3.79 | Chg7d=-0.063 | Chg30d=-0.063 | Revisions Net=-1 | Growth EPS=+5.5% | Growth Revenue=+5.8%
[Analyst] Revisions Ratio: -1.00 (0 Up / 1 Down within 30d for Current Year)
[Growth] Implied Growth Rate = -3.0% (Discount Rate 7.9% - Earnings Yield 10.9%)
[Growth] Growth Spread = -6.1% (Analyst -9.1% - Implied -3.0%)