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VOPAK (VPK.AS) Stock Fundamental Analysis

AMS:VPK - Euronext Amsterdam - NL0009432491 - Common Stock - Currency: EUR

44.42  +0.3 (+0.68%)

Fundamental Rating

4

Overall VPK gets a fundamental rating of 4 out of 10. We evaluated VPK against 62 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of VPK while its profitability can be described as average. VPK is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year VPK was profitable.
In the past year VPK had a positive cash flow from operations.
VPK had positive earnings in 4 of the past 5 years.
In the past 5 years VPK always reported a positive cash flow from operatings.
VPK.AS Yearly Net Income VS EBIT VS OCF VS FCFVPK.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M

1.2 Ratios

VPK has a Return On Assets of 10.42%. This is in the better half of the industry: VPK outperforms 73.33% of its industry peers.
With a decent Return On Equity value of 22.52%, VPK is doing good in the industry, outperforming 70.00% of the companies in the same industry.
The Return On Invested Capital of VPK (8.62%) is better than 63.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for VPK is significantly below the industry average of 12.33%.
The last Return On Invested Capital (8.62%) for VPK is above the 3 year average (4.99%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 10.42%
ROE 22.52%
ROIC 8.62%
ROA(3y)2.49%
ROA(5y)4.19%
ROE(3y)5.07%
ROE(5y)8.78%
ROIC(3y)4.99%
ROIC(5y)5.05%
VPK.AS Yearly ROA, ROE, ROICVPK.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10 15 20

1.3 Margins

VPK's Profit Margin of 34.05% is amongst the best of the industry. VPK outperforms 86.67% of its industry peers.
VPK's Profit Margin has improved in the last couple of years.
VPK's Operating Margin of 27.98% is fine compared to the rest of the industry. VPK outperforms 65.00% of its industry peers.
VPK's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 27.98%
PM (TTM) 34.05%
GM N/A
OM growth 3Y3.88%
OM growth 5Y-0.58%
PM growth 3Y8.89%
PM growth 5Y9.52%
GM growth 3YN/A
GM growth 5YN/A
VPK.AS Yearly Profit, Operating, Gross MarginsVPK.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60 80

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3

2. Health

2.1 Basic Checks

VPK has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
VPK has less shares outstanding than it did 1 year ago.
The number of shares outstanding for VPK has been reduced compared to 5 years ago.
The debt/assets ratio for VPK has been reduced compared to a year ago.
VPK.AS Yearly Shares OutstandingVPK.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
VPK.AS Yearly Total Debt VS Total AssetsVPK.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.2 Solvency

VPK has an Altman-Z score of 2.00. This is not the best score and indicates that VPK is in the grey zone with still only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.00, VPK perfoms like the industry average, outperforming 51.67% of the companies in the same industry.
VPK has a debt to FCF ratio of 4.70. This is a neutral value as VPK would need 4.70 years to pay back of all of its debts.
VPK has a Debt to FCF ratio (4.70) which is in line with its industry peers.
VPK has a Debt/Equity ratio of 0.71. This is a neutral value indicating VPK is somewhat dependend on debt financing.
VPK has a worse Debt to Equity ratio (0.71) than 71.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 4.7
Altman-Z 2
ROIC/WACC1.39
WACC6.21%
VPK.AS Yearly LT Debt VS Equity VS FCFVPK.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.3 Liquidity

A Current Ratio of 0.45 indicates that VPK may have some problems paying its short term obligations.
With a Current ratio value of 0.45, VPK is not doing good in the industry: 96.67% of the companies in the same industry are doing better.
VPK has a Quick Ratio of 0.45. This is a bad value and indicates that VPK is not financially healthy enough and could expect problems in meeting its short term obligations.
VPK's Quick ratio of 0.45 is on the low side compared to the rest of the industry. VPK is outperformed by 95.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.45
Quick Ratio 0.45
VPK.AS Yearly Current Assets VS Current LiabilitesVPK.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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2

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 3.08% over the past year.
VPK shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.71% yearly.
Looking at the last year, VPK shows a decrease in Revenue. The Revenue has decreased by -5.97% in the last year.
VPK shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.59% yearly.
EPS 1Y (TTM)3.08%
EPS 3Y15.82%
EPS 5Y12.71%
EPS Q2Q%-28.01%
Revenue 1Y (TTM)-5.97%
Revenue growth 3Y6.21%
Revenue growth 5Y2.59%
Sales Q2Q%-7.67%

3.2 Future

Based on estimates for the next years, VPK will show a small growth in Earnings Per Share. The EPS will grow by 2.01% on average per year.
Based on estimates for the next years, VPK will show a decrease in Revenue. The Revenue will decrease by -1.24% on average per year.
EPS Next Y-3.95%
EPS Next 2Y-0.56%
EPS Next 3Y3.57%
EPS Next 5Y2.01%
Revenue Next Year-9.35%
Revenue Next 2Y-2.61%
Revenue Next 3Y-0.46%
Revenue Next 5Y-1.24%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
VPK.AS Yearly Revenue VS EstimatesVPK.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 500M 1B
VPK.AS Yearly EPS VS EstimatesVPK.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 8.46 indicates a reasonable valuation of VPK.
The rest of the industry has a similar Price/Earnings ratio as VPK.
Compared to an average S&P500 Price/Earnings ratio of 28.47, VPK is valued rather cheaply.
A Price/Forward Earnings ratio of 13.26 indicates a correct valuation of VPK.
VPK's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 92.74. VPK is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.46
Fwd PE 13.26
VPK.AS Price Earnings VS Forward Price EarningsVPK.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VPK indicates a slightly more expensive valuation: VPK is more expensive than 73.33% of the companies listed in the same industry.
VPK's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 9.21
EV/EBITDA 8.58
VPK.AS Per share dataVPK.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

The decent profitability rating of VPK may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.67
EPS Next 2Y-0.56%
EPS Next 3Y3.57%

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4

5. Dividend

5.1 Amount

VPK has a Yearly Dividend Yield of 3.47%.
Compared to an average industry Dividend Yield of 60.90, VPK is paying slightly less dividend.
VPK's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 3.47%

5.2 History

The dividend of VPK has a limited annual growth rate of 4.40%.
Dividend Growth(5Y)4.4%
Div Incr Years5
Div Non Decr Years5
VPK.AS Yearly Dividends per shareVPK.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 0.5 1

5.3 Sustainability

VPK pays out 26.44% of its income as dividend. This is a sustainable payout ratio.
VPK's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP26.44%
EPS Next 2Y-0.56%
EPS Next 3Y3.57%
VPK.AS Yearly Income VS Free CF VS DividendVPK.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M
VPK.AS Dividend Payout.VPK.AS Dividend Payout, showing the Payout Ratio.VPK.AS Dividend Payout.PayoutRetained Earnings

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VOPAK

AMS:VPK (2/5/2025, 2:43:26 PM)

44.42

+0.3 (+0.68%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)N/A N/A
Earnings (Next)02-19 2025-02-19/amc
Inst Owners26.73%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap5.23B
Analysts77.78
Price Target46.39 (4.43%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.47%
Yearly Dividend1.3
Dividend Growth(5Y)4.4%
DP26.44%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)2.62%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-5.01%
EPS NY rev (3m)-5.01%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.2%
Revenue NY rev (3m)-1.2%
Valuation
Industry RankSector Rank
PE 8.46
Fwd PE 13.26
P/S 2.57
P/FCF 9.21
P/OCF 5.63
P/B 1.7
P/tB 1.76
EV/EBITDA 8.58
EPS(TTM)5.25
EY11.82%
EPS(NY)3.35
Fwd EY7.54%
FCF(TTM)4.82
FCFY10.86%
OCF(TTM)7.89
OCFY17.77%
SpS17.3
BVpS26.16
TBVpS25.29
PEG (NY)N/A
PEG (5Y)0.67
Profitability
Industry RankSector Rank
ROA 10.42%
ROE 22.52%
ROCE 10.1%
ROIC 8.62%
ROICexc 8.76%
ROICexgc 8.92%
OM 27.98%
PM (TTM) 34.05%
GM N/A
FCFM 27.87%
ROA(3y)2.49%
ROA(5y)4.19%
ROE(3y)5.07%
ROE(5y)8.78%
ROIC(3y)4.99%
ROIC(5y)5.05%
ROICexc(3y)5.09%
ROICexc(5y)5.14%
ROICexgc(3y)5.18%
ROICexgc(5y)5.26%
ROCE(3y)5.95%
ROCE(5y)6.02%
ROICexcg growth 3Y10.15%
ROICexcg growth 5Y-1.71%
ROICexc growth 3Y10.44%
ROICexc growth 5Y-1.42%
OM growth 3Y3.88%
OM growth 5Y-0.58%
PM growth 3Y8.89%
PM growth 5Y9.52%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF 4.7
Debt/EBITDA 2.46
Cap/Depr 112.01%
Cap/Sales 17.75%
Interest Coverage 4.45
Cash Conversion 104.09%
Profit Quality 81.86%
Current Ratio 0.45
Quick Ratio 0.45
Altman-Z 2
F-Score6
WACC6.21%
ROIC/WACC1.39
Cap/Depr(3y)132.67%
Cap/Depr(5y)165.38%
Cap/Sales(3y)33.17%
Cap/Sales(5y)40.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.08%
EPS 3Y15.82%
EPS 5Y12.71%
EPS Q2Q%-28.01%
EPS Next Y-3.95%
EPS Next 2Y-0.56%
EPS Next 3Y3.57%
EPS Next 5Y2.01%
Revenue 1Y (TTM)-5.97%
Revenue growth 3Y6.21%
Revenue growth 5Y2.59%
Sales Q2Q%-7.67%
Revenue Next Year-9.35%
Revenue Next 2Y-2.61%
Revenue Next 3Y-0.46%
Revenue Next 5Y-1.24%
EBIT growth 1Y-7.92%
EBIT growth 3Y10.33%
EBIT growth 5Y2%
EBIT Next Year38.19%
EBIT Next 3Y14.01%
EBIT Next 5Y8.77%
FCF growth 1Y67.76%
FCF growth 3Y52.27%
FCF growth 5Y31.12%
OCF growth 1Y20.54%
OCF growth 3Y3.9%
OCF growth 5Y6.06%