(VLK) Van Lanschot - Overview
Sector: Financial Services | Industry: Banks - Regional | Exchange: AS (Netherlands) | Market Cap: 2.469m EUR | Total Return: 25.3% in 12m
Avg Turnover: 3.72M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Van Lanschot Kempen NV is a specialized financial institution headquartered in the Netherlands, focusing on wealth management, private banking, and investment banking. Operating across four primary segments, the firm serves high-net-worth individuals, entrepreneurs, and institutional clients through tailored advisory and fiduciary services. Founded in 1737, it stands as the oldest independent financial institution in the Netherlands, evolving from a traditional merchant bank into a modern integrated wealth manager.
The company’s business model relies heavily on fee-based income from assets under management and advisory services, which typically provides more stability than the interest-dependent models of traditional retail banks. In the European private banking sector, consolidation is a prevailing trend as firms seek scale to offset rising regulatory and technological costs. For a deeper look into the companys valuation metrics and historical performance, consider reviewing the data available on ValueRay.
- Net interest income sensitivity to ECB rate cycle shifts
- Assets under management growth drives recurring fee income expansion
- Capital return policy via dividends and share buybacks
- Investment banking deal flow volatility impacts non-interest revenue streams
| Net Income: 290.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.43 > 1.0 |
| NWC/Revenue: 96.41% < 20% (prev 254.3%; Δ -157.9% < -1%) |
| CFO/TA 0.06 > 3% & CFO 978.2m > Net Income 290.2m |
| Net Debt (485.6m) to EBITDA (236.5m): 2.05 < 3 |
| Current Ratio: 3.92 > 1.5 & < 3 |
| Outstanding Shares: last quarter (42.9m) vs 12m ago -2.01% < -2% |
| Gross Margin: 85.95% > 18% (prev 0.92%; Δ 8.50k% > 0.5%) |
| Asset Turnover: 9.90% > 50% (prev 6.43%; Δ 3.48% > 0%) |
| Interest Coverage Ratio: 0.47 > 6 (EBITDA TTM 236.5m / Interest Expense TTM 241.5m) |
| A: 0.09 (Total Current Assets 2.22b - Total Current Liabilities 566.0m) / Total Assets 17.78b |
| B: 0.06 (Retained Earnings 1.13b / Total Assets 17.78b) |
| C: 0.01 (EBIT TTM 112.4m / Avg Total Assets 17.31b) |
| D: 0.07 (Book Value of Equity 1.15b / Total Liabilities 16.50b) |
| Altman-Z'' Score: 0.93 = BB |
| DSRI: 0.25 (Receivables 53.5m/134.1m, Revenue 1.71b/1.08b) |
| GMI: 1.07 (GM 85.95% / 92.12%) |
| AQI: 1.05 (AQ_t 0.87 / AQ_t-1 0.83) |
| SGI: 1.58 (Revenue 1.71b / 1.08b) |
| TATA: -0.04 (NI 290.2m - CFO 978.2m) / TA 17.78b) |
| Beneish M-Score: -3.17 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at EUR 67.00 with a total of 195,891 shares traded.
Over the past week, the price has changed by +2.60%,
over one month by +4.12%,
over three months by +35.63% and
over the past year by +25.30%.
Van Lanschot has no consensus analysts rating.
P/E Trailing = 16.7435
P/E Forward = 13.5135
P/S = 3.2344
P/B = 1.7882
P/EG = 0.3074
Revenue TTM = 1.71b EUR
EBIT TTM = 112.4m EUR
EBITDA TTM = 236.5m EUR
Long Term Debt = 2.08b EUR (estimated: total debt 2.65b - short term 566.0m)
Short Term Debt = 566.0m EUR (from shortTermDebt, last quarter)
Debt = 2.65b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 485.6m EUR (from netDebt column, last quarter)
Enterprise Value = 2.95b EUR (2.47b + Debt 2.65b - CCE 2.17b)
Interest Coverage Ratio = 0.47 (Ebit TTM 112.4m / Interest Expense TTM 241.5m)
EV/FCF = 3.31x (Enterprise Value 2.95b / FCF TTM 893.1m)
FCF Yield = 30.23% (FCF TTM 893.1m / Enterprise Value 2.95b)
FCF Margin = 52.10% (FCF TTM 893.1m / Revenue TTM 1.71b)
Net Margin = 16.93% (Net Income TTM 290.2m / Revenue TTM 1.71b)
Gross Margin = 85.95% ((Revenue TTM 1.71b - Cost of Revenue TTM 240.8m) / Revenue TTM)
Gross Margin QoQ = 62.11% (prev none%)
Tobins Q-Ratio = 0.17 (Enterprise Value 2.95b / Total Assets 17.78b)
Interest Expense / Debt = 9.11% (Interest Expense 241.5m / Debt 2.65b)
Taxrate = 27.57% (31.5m / 114.1m)
NOPAT = 81.4m (EBIT 112.4m * (1 - 27.57%))
Current Ratio = 3.92 (Total Current Assets 2.22b / Total Current Liabilities 566.0m)
Debt / Equity = 2.07 (Debt 2.65b / totalStockholderEquity, last quarter 1.28b)
Debt / EBITDA = 2.05 (Net Debt 485.6m / EBITDA 236.5m)
Debt / FCF = 0.54 (Net Debt 485.6m / FCF TTM 893.1m)
Total Stockholder Equity = 1.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.68% (Net Income 290.2m / Total Assets 17.78b)
RoE = 22.10% (Net Income TTM 290.2m / Total Stockholder Equity 1.31b)
RoCE = 3.31% (EBIT 112.4m / Capital Employed (Equity 1.31b + L.T.Debt 2.08b))
RoIC = 2.42% (NOPAT 81.4m / Invested Capital 3.36b)
WACC = 7.17% (E(2.47b)/V(5.12b) * Re(7.79%) + D(2.65b)/V(5.12b) * Rd(9.11%) * (1-Tc(0.28)))
Discount Rate = 7.79% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: -33.33 | Cagr: -1.01%
[DCF] Terminal Value 79.38% ; FCFF base≈970.4m ; Y1≈828.3m ; Y5≈640.2m
[DCF] Fair Price = 319.9 (EV 14.08b - Net Debt 485.6m = Equity 13.59b / Shares 42.5m; r=7.17% [WACC]; 5y FCF grow -17.80% → 3.0% )
EPS Correlation: -11.60 | EPS CAGR: -47.24% | SUE: 0.0 | # QB: 0
Revenue Correlation: 54.09 | Revenue CAGR: 27.18% | SUE: 3.11 | # QB: 1
EPS current Year (2026-12-31): EPS=4.26 | Chg7d=+0.250 | Chg30d=+0.833 | Revisions Net=+2 | Growth EPS=+9.2% | Growth Revenue=+8.9%
EPS next Year (2027-12-31): EPS=4.55 | Chg7d=+0.130 | Chg30d=+0.737 | Revisions Net=+2 | Growth EPS=+6.8% | Growth Revenue=+5.1%
[Analyst] Revisions Ratio: +1.00 (2 Up / 0 Down within 30d for Current Year)
[Growth] Implied Growth Rate = 2.0% (Discount Rate 7.9% - Earnings Yield 6.0%)
[Growth] Growth Spread = +3.2% (Analyst 5.1% - Implied 2.0%)