(FLOW) Flow Traders BV - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: AS (Netherlands) | Market Cap: 1.297m EUR | Total Return: 5% in 12m
Avg Turnover: 3.21M
Warnings
No concerns identified
Tailwinds
Confidence
Flow Traders Ltd. is an Amsterdam-headquartered financial technology firm functioning as a multi-asset liquidity provider across global markets in Europe, the Americas, and Asia. The company specializes in Exchange Traded Products (ETPs), facilitating trading in equities, fixed income, digital assets, commodities, and foreign exchange.
Operating as a specialized market maker, Flow Traders utilizes proprietary technology to provide continuous bid and ask prices, profiting from the bid-ask spread rather than directional market bets. This business model typically experiences increased profitability during periods of high market volatility and elevated trading volumes, as these conditions often widen spreads and increase transaction frequency.
The firm has expanded its footprint into the institutional liquidity space and the digital asset ecosystem, supporting the infrastructure of decentralized finance and cryptocurrency exchange-traded instruments. For a deeper look into the companys valuation metrics and historical performance, consider reviewing the data on ValueRay.
- Heightened market volatility drives increased trading volume and bid-ask spread capture
- Expansion into fixed income and digital assets diversifies non-ETP revenue streams
- Rising institutional demand for off-exchange liquidity boosts global market share
- Technology infrastructure costs and high-performance talent retention pressure operating margins
- Global regulatory shifts in market making and crypto oversight impact trading profitability
| Net Income: 134.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.96 > 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 (193.7m): 15.07 < 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 193.7m / Interest Expense TTM 4.88m) |
| A: 0.35 (Total Current Assets 8.40b - Total Current Liabilities 2.90b) / Total Assets 15.9b |
| B: 0.05 (Retained Earnings 718.3m / Total Assets 15.9b) |
| C: 0.01 (EBIT TTM 172.9m / Avg Total Assets 14.4b) |
| D: 0.06 (Book Value of Equity 910.4m / Total Liabilities 15.1b) |
| Altman-Z'' = 2.56 = A |
| DSRI: 0.00 (Receivables 4.33m/5.96b, Revenue 375.5m/484.7m) |
| GMI: 0.63 (GM 95.18% / 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 15.9b) |
| Beneish M = 40.84 (Cap -4..+1) = D |
As of May 24, 2026, the stock is trading at EUR 30.32 with a total of 75,156 shares traded.
Over the past week, the price has changed by +1.28%,
over one month by +7.81%,
over three months by +15.07% and
over the past year by +4.95%.
Flow Traders BV has no consensus analysts rating.
P/E Trailing = 9.9933
P/E Forward = 8.0
P/S = 1.5807
P/B = 1.4329
Revenue TTM = 375.5m EUR
EBIT TTM = 172.9m EUR
EBITDA TTM = 193.7m 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 (calculated: Debt 2.93b - CCE 7.23m)
Enterprise Value = 4.22b EUR (1.30b + Debt 2.93b - CCE 7.23m)
Interest Coverage Ratio = 35.45 (Ebit TTM 172.9m / Interest Expense TTM 4.88m)
EV/FCF = 21.89x (Enterprise Value 4.22b / FCF TTM 192.6m)
FCF Yield = 4.57% (FCF TTM 192.6m / Enterprise Value 4.22b)
FCF Margin = 51.30% (FCF TTM 192.6m / 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 18.1m) / Revenue TTM)
Tobins Q-Ratio = 0.26 (Enterprise Value 4.22b / Total Assets 15.9b)
Interest Expense / Debt = 0.17% (Interest Expense 4.88m / Debt 2.93b)
Taxrate = 19.02% (10.8m / 56.8m)
NOPAT = 140.0m (EBIT 172.9m * (1 - 19.02%))
Current Ratio = 0.89 (Total Current Assets 8.40b / Total Current Liabilities 9.47b)
Debt / Equity = 3.37 (Debt 2.93b / totalStockholderEquity, last quarter 868.4m)
Debt / EBITDA = 15.07 (Net Debt 2.92b / EBITDA 193.7m)
Debt / FCF = 15.16 (Net Debt 2.92b / FCF TTM 192.6m)
Total Stockholder Equity = 805.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.93% (Net Income 134.7m / Total Assets 15.9b)
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 = 0.88% (NOPAT 140.0m / Invested Capital 15.9b)
WACC = 1.17% (E(1.30b)/V(4.22b) * Re(3.51%) + D(2.93b)/V(4.22b) * Rd(0.17%) * (1-Tc(0.19)))
Discount Rate = 3.51% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 3.72%
Shares (quarterly) Correlation: 2.22 | Cagr: 1.22%
[DCF] Terminal Value 73.10% ; FCFF base≈227.7m ; Y1≈199.7m ; Y5≈161.3m
[DCF] Fair Price = N/A (negative equity: EV 2.59b - Net Debt 2.92b = -329.7m; debt exceeds intrinsic value)
EPS Correlation: 79.66 | EPS CAGR: 43.42% | SUE: -0.18 | # QB: 0
Revenue Correlation: -31.47 | Revenue CAGR: -7.78% | SUE: 0.07 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.04 | Chg30d=+36.96% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.90 | Chg30d=+13.71% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=3.29 | Chg30d=-8.58% | Revisions=+20% | GrowthEPS=+10.3% | GrowthRev=+9.6%
EPS next Year (2027-12-31): EPS=3.67 | Chg30d=-3.16% | Revisions=+0% | GrowthEPS=+11.8% | GrowthRev=+6.9%
[Analyst] Revisions Ratio: +20%