(PNL) PostNL - Overview
Sector: Industrials | Industry: Integrated Freight & Logistics | Exchange: AS (Netherlands) | Market Cap: 512m EUR | Total Return: 11.5% in 12m
Avg Turnover: 1.77M
Qual. Beats: 0
Rev. Trend: 96.4%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.5 is critical
Beneish M-Score -1.16 > -1.5 - likely earnings manipulation
Altman Z'' 0.26 < 1.0 - financial distress zone
Choppy
Tailwinds
No distinct edge detected
PostNL N.V. (PNL) is a logistics and postal service provider headquartered in The Hague, operating primarily through its Parcels and Mail in the Netherlands and PostNL Other segments. The company manages the end-to-end lifecycle of physical communications and goods, including collection, sorting, and international cross-border delivery. Beyond traditional mail, the firm provides specialized business solutions such as data management, direct marketing, and e-commerce fulfillment services.
Operating within the Air Freight & Logistics sector, PostNL functions as the designated universal service provider in the Netherlands, a role that requires balancing mandatory postal obligations with a growing competitive presence in the e-commerce logistics market. The industry is currently defined by a structural decline in physical mail volumes, forcing legacy carriers to pivot toward high-density parcel networks to capture growth from online retail. Investors evaluating the sustainability of this transition may find further fundamental insights on ValueRay.
- E-commerce parcel volume growth offsets structural decline in traditional mail revenue
- Rising labor costs and collective labor agreements pressure operational profit margins
- Dutch regulatory decisions on universal service obligations impact mail delivery costs
- Cross-border logistics expansion drives international revenue and network utilization efficiency
- Fuel prices and transportation costs dictate volatility in logistics segment margins
| Net Income: -16.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.35 > 1.0 |
| NWC/Revenue: 2.08% < 20% (prev -0.58%; Δ 2.66% < -1%) |
| CFO/TA 0.07 > 3% & CFO 160.0m > Net Income -16.0m |
| Net Debt (850.0m) to EBITDA (259.0m): 3.28 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (508.7m) vs 12m ago 1.30% < -2% |
| Gross Margin: 3.67% > 18% (prev 0.12%; Δ 355.1% > 0.5%) |
| Asset Turnover: 153.6% > 50% (prev 153.3%; Δ 0.21% > 0%) |
| Interest Coverage Ratio: 0.47 > 6 (EBITDA TTM 259.0m / Interest Expense TTM 47.0m) |
| A: 0.03 (Total Current Assets 1.04b - Total Current Liabilities 970.0m) / Total Assets 2.20b |
| B: -0.01 (Retained Earnings -16.0m / Total Assets 2.20b) |
| C: 0.01 (EBIT TTM 22.0m / Avg Total Assets 2.16b) |
| D: 0.00 (Book Value of Equity 10.0m / Total Liabilities 2.02b) |
| Altman-Z'' = 0.26 = B |
| DSRI: 0.82 (Receivables 355.0m/422.0m, Revenue 3.32b/3.25b) |
| GMI: 3.37 (GM 3.67% / 12.37%) |
| AQI: 0.90 (AQ_t 0.19 / AQ_t-1 0.22) |
| SGI: 1.02 (Revenue 3.32b / 3.25b) |
| TATA: -0.08 (NI -16.0m - CFO 160.0m) / TA 2.20b) |
| Beneish M = -1.16 (Cap -4..+1) = D |
As of May 28, 2026, the stock is trading at EUR 1.02 with a total of 1,414,167 shares traded.
Over the past week, the price has changed by +3.35%,
over one month by -3.87%,
over three months by -7.59% and
over the past year by +11.51%.
PostNL has no consensus analysts rating.
P/E Forward = 33.557
P/S = 0.154
P/B = 2.9076
P/EG = 1.4355
Revenue TTM = 3.32b EUR
EBIT TTM = 22.0m EUR
EBITDA TTM = 259.0m EUR
Long Term Debt = 753.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 199.0m EUR (from shortTermDebt, last quarter)
Debt = 1.47b EUR (from shortLongTermDebtTotal, last quarter) + Leases 299.0m
Net Debt = 850.0m EUR (calculated: Debt 1.47b - CCE 616.0m)
Enterprise Value = 1.36b EUR (511.7m + Debt 1.47b - CCE 616.0m)
Interest Coverage Ratio = 0.47 (Ebit TTM 22.0m / Interest Expense TTM 47.0m)
EV/FCF = 21.61x (Enterprise Value 1.36b / FCF TTM 63.0m)
FCF Yield = 4.63% (FCF TTM 63.0m / Enterprise Value 1.36b)
FCF Margin = 1.90% (FCF TTM 63.0m / Revenue TTM 3.32b)
Net Margin = -0.48% (Net Income TTM -16.0m / Revenue TTM 3.32b)
Gross Margin = 3.67% ((Revenue TTM 3.32b - Cost of Revenue TTM 3.20b) / Revenue TTM)
Gross Margin QoQ = 10.41% (prev 1.31%)
Tobins Q-Ratio = 0.62 (Enterprise Value 1.36b / Total Assets 2.20b)
Interest Expense / Debt = 3.21% (Interest Expense 47.0m / Debt 1.47b)
Taxrate = 26.98% (17.0m / 63.0m)
NOPAT = 16.1m (EBIT 22.0m * (1 - 26.98%))
Current Ratio = 1.07 (Total Current Assets 1.04b / Total Current Liabilities 970.0m)
Debt / Equity = 8.33 (Debt 1.47b / totalStockholderEquity, last quarter 176.0m)
Debt / EBITDA = 3.28 (Net Debt 850.0m / EBITDA 259.0m)
Debt / FCF = 13.49 (Net Debt 850.0m / FCF TTM 63.0m)
Total Stockholder Equity = 161.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.74% (Net Income -16.0m / Total Assets 2.20b)
RoE = -9.00% (Net Income TTM -16.0m / Total Stockholder Equity 177.8m)
RoCE = 2.36% (EBIT 22.0m / Capital Employed (Equity 177.8m + L.T.Debt 753.0m))
RoIC = 1.30% (NOPAT 16.1m / Invested Capital 1.23b)
WACC = 3.48% (E(511.7m)/V(1.98b) * Re(6.74%) + D(1.47b)/V(1.98b) * Rd(3.21%) * (1-Tc(0.27)))
Discount Rate = 6.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 88.66 | Cagr: 1.29%
[DCF] Terminal Value 74.38% ; FCFF base≈65.0m ; Y1≈61.2m ; Y5≈57.1m
[DCF] Fair Price = 0.10 (EV 901.1m - Net Debt 850.0m = Equity 51.1m / Shares 508.7m; r=8.35% [WACC [floored]]; 5y FCF grow -7.35% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.69 | # QB: 0
Revenue Correlation: 96.35 | Revenue CAGR: 2.25% | SUE: 0.05 | # QB: 0
EPS current Year (2026-12-31): EPS=0.04 | Chg30d=-40.66% | Revisions=-20% | GrowthEPS=-9.1% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=0.08 | Chg30d=-12.86% | Revisions=-33% | GrowthEPS=+109.3% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: -33%