VLK Stock Analysis: Van Lanschot | AS
Banks - Regional | AS, Netherlands | Market Cap: 2.810m EUR | 12M Return: 39.6% | NL0000302636 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.35M
Warnings
No concerns identified
Tailwinds
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Van Lanschot Kempen NV (AS: VLK) is a Dutch financial services provider founded in 1737 and headquartered in s-Hertogenbosch, the Netherlands. The company operates across four segments: Private Clients Netherlands, Private Clients Belgium, Investment Management Clients, and Investment Banking Clients, serving entrepreneurs, family businesses, high-net-worth individuals, business professionals, foundations, pension funds, and affluent retail clients in the Netherlands, Belgium, and selected international markets.
Its service offering spans private banking, wealth management, an online investment platform, owned funds-related services, and fiduciary/strategies management. Specialist investment banking capabilities cover equities research and trading, mergers and acquisitions, equity capital markets, and debt advisory for corporate and institutional investors. The group also conducts interest rate, market, and liquidity risk management alongside structured product activities.
Van Lanschot is classified within the GICS Financials sector (Regional Banks sub-industry) and is positioned as one of the Netherlands longest-established wealth and private banking franchises, with a mid-cap market capitalization of approximately $3.2 billion USD. The company adopted its current name in July 2021, having previously operated as Van Lanschot Kempen Wealth Management NV.
- ECB rate cuts squeeze net interest margin
- Private banking AUM growth lifts fee income
- M&A and ECM deal flow boosts investment banking
| Net Income: 177.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 2.12 > 1.0 |
| NWC/Revenue: -913.6% < 20% (prev -1.46k%; Δ 546.0% < -1%) |
| CFO/TA 0.03 > 3% & CFO 469.8m > Net Income 177.7m |
| Net Debt (855.3m) to EBITDA (182.3m): 4.69 < 3 |
| Current Ratio: 0.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (42.7m) vs 12m ago 0.78% < -2% |
| Gross Margin: 64.42% > 18% (prev 33.08%; Δ 31.34% > 0.5%) |
| Asset Turnover: 7.40% > 50% (prev 4.43%; Δ 2.96% > 0%) |
| Interest Coverage Ratio: 0.31 > 6 (EBIT TTM 138.9m / Interest Expense TTM 444.1m) |
| A: -0.66 (Total Current Assets 1.78b - Total Current Liabilities 13.2b) / Total Assets 17.4b |
| B: 0.00 (Retained Earnings 83.7m / Total Assets 17.4b) |
| C: 0.01 (EBIT TTM 138.9m / Avg Total Assets 17.0b) |
| D: 0.08 (Book Value of Equity 1.30b / Total Liabilities 16.1b) |
| Altman-Z'' = -4.17 = D |
| DSRI: 0.10 (Receivables 290k/155.3m, Revenue 1.25b/733.8m) |
| GMI: 0.51 (GM 33.08% / 64.42%) |
| AQI: 1.01 (AQ_t 0.89 / AQ_t-1 0.89) |
| SGI: 1.71 (Revenue 1.25b / 733.8m) |
| TATA: -0.02 (NI 177.7m - CFO 469.8m) / TA 17.4b) |
| Beneish M = -3.70 (Cap -4..+1) = AAA |
As of November 12, 2026, the stock is trading at EUR 66.45 with a total of 26,352 shares traded. Over the past week, the price has changed by +3.67%, over one month by +5.64%, over three months by +1.30% and over the past year by +39.61%.
Current recommended Stop Loss: 63.00 (which is 5.2% or 2.5 ATR below the current price).
Van Lanschot has no consensus analysts rating.
P/E Trailing = 16.8909
P/E Forward = 13.0719
P/S = 3.4917
P/B = 2.1018
P/EG = 0.3074
Revenue TTM = 1.25b EUR
EBIT TTM = 138.9m EUR
EBITDA TTM = 182.3m EUR
Long Term Debt = unknown (none)
Short Term Debt = 566.0m EUR (from shortTermDebt, last fiscal year)
Debt = 2.63b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 855.3m EUR (calculated: Debt 2.63b - CCE 1.78b)
Enterprise Value = 3.67b EUR (2.81b + Debt 2.63b - CCE 1.78b)
Interest Coverage Ratio = 0.31 (Ebit TTM 138.9m / Interest Expense TTM 444.1m)
EV/FCF = 8.47x (Enterprise Value 3.67b / FCF TTM 432.9m)
FCF Yield = 11.81% (FCF TTM 432.9m / Enterprise Value 3.67b)
FCF Margin = 34.52% (FCF TTM 432.9m / Revenue TTM 1.25b)
Net Margin = 14.17% (Net Income TTM 177.7m / Revenue TTM 1.25b)
Gross Margin = 64.42% ((Revenue TTM 1.25b - Cost of Revenue TTM 446.3m) / Revenue TTM)
Gross Margin QoQ = 66.78% (prev 62.11%)
Tobins Q-Ratio = 0.21 (Enterprise Value 3.67b / Total Assets 17.4b)
Interest Expense / Debt = 16.87% (Interest Expense 444.1m / Debt 2.63b)
Taxrate = 27.96% (64.6m / 230.8m)
NOPAT = 100.0m (EBIT 138.9m * (1 - 27.96%))
Current Ratio = 0.13 (Total Current Assets 1.78b / Total Current Liabilities 13.2b)
Debt / Equity = 2.02 (Debt 2.63b / totalStockholderEquity, last quarter 1.30b)
Debt / EBITDA = 4.69 (Net Debt 855.3m / EBITDA 182.3m)
Debt / FCF = 1.98 (Net Debt 855.3m / FCF TTM 432.9m)
Total Stockholder Equity = 1.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.05% (Net Income 177.7m / Total Assets 17.4b)
RoE = 13.58% (Net Income TTM 177.7m / Total Stockholder Equity 1.31b)
RoCE = 3.36% (EBIT 138.9m / Capital Employed (Total Assets 17.4b - Current Liab 13.2b))
RoIC = 2.16% (NOPAT 100.0m / Invested Capital 4.63b)
WACC = 9.57% (E(2.81b)/V(5.44b) * Re(7.15%) + D(2.63b)/V(5.44b) * Rd(16.87%) * (1-Tc(0.28)))
Discount Rate = 7.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 2.19 | Cagr: -1.54%
[DCF] Terminal Value 74.13% ; FCFF base≈284.7m ; Y1≈326.3m ; Y5≈480.3m
[DCF] Fair Price = 120.6 (EV 5.95b - Net Debt 855.3m = Equity 5.09b / Shares 42.2m; r=9.57% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 95.73 | Revenue CAGR: 37.29% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.55 | Chg30d=+0.29% | Revisions=+25% | GrowthEPS=+16.8% | GrowthRev=+13.3%
EPS next Year (2027-12-31): EPS=4.81 | Chg30d=+0.07% | Revisions=+25% | GrowthEPS=+5.7% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: +40% (up=2, down=0)