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Arcadis NV
(ARCAD)
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Rating:70Outperform
Price Target:
€40.00
▲(22.10% Upside)
Action:Upgraded
Date:05/01/26
The score is driven primarily by strong financial performance, led by robust cash-flow quality and strong 2025 revenue growth, partially offset by increased leverage and profitability volatility. Technicals are neutral with the stock below the 200-day average, while valuation is supportive with a reasonable P/E and solid dividend yield.
Positive Factors
Strong 2025 revenue growth
Revenue expanded ~31% in 2025, materially increasing scale and supporting higher operating profit versus prior years. Sustained top-line momentum strengthens project pipeline visibility and provides capacity to absorb fixed costs, improving durable earnings potential.
Negative Factors
Rising leverage
Debt rising to a level above equity (debt/equity ~1.28) reduces financial flexibility and increases interest and refinancing risk. Elevated leverage constrains ability to invest organically or pursue large fixed‑price contracts without adding financing strain during cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong 2025 revenue growth
Revenue expanded ~31% in 2025, materially increasing scale and supporting higher operating profit versus prior years. Sustained top-line momentum strengthens project pipeline visibility and provides capacity to absorb fixed costs, improving durable earnings potential.
Read all positive factors
Arcadis NV (ARCAD) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€2.86B
Dividend Yield2.85%
Average Volume (3M)214.67K
Price to Earnings (P/E)19.3
Beta (1Y)0.72
Revenue Growth-2.40%
EPS Growth-13.52%
CountryNL
Employees32,059
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.74
Shares Outstanding90,442,090
10 Day Avg. Volume192,744
30 Day Avg. Volume214,667
Financial Highlights & Ratios
PEG Ratio-1.11
Price to Book (P/B)3.06
Price to Sales (P/S)0.65
P/FCF Ratio8.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€46.00Price Target Upside40.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.07
Revenue Forecast (FY)€3.91B
Arcadis NV Business Overview & Revenue Model
Company Description
Arcadis N.V. is a global professional services firm specializing in design and advisory services for both constructed environments and natural resources. The company's international operations are structured across key geographical segments: Europ...
How the Company Makes Money
Arcadis primarily makes money by selling professional services on client engagements, generating revenue from fees for consulting, engineering/design, advisory, and project/program management work. Its revenue model is largely services-based and t...
Arcadis NV Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.88B | 5.00B | 5.00B | 4.03B | 3.38B |
| Gross Profit | 828.00M | 892.00M | 815.00M | 655.55M | 568.67M |
| EBITDA | 427.00M | 469.00M | 402.75M | 270.44M | 280.85M |
| Net Income | 208.00M | 243.00M | 160.00M | 131.52M | 167.88M |
Balance Sheet | |||||
| Total Assets | 3.63B | 3.90B | 3.78B | 3.84B | 2.74B |
| Cash, Cash Equivalents and Short-Term Investments | 323.50M | 357.00M | 270.00M | 243.15M | 320.60M |
| Total Debt | 1.13B | 1.12B | 1.16B | 1.29B | 518.67M |
| Total Liabilities | 2.59B | 2.67B | 2.72B | 2.85B | 1.71B |
| Stockholders Equity | 1.04B | 1.23B | 1.06B | 995.24M | 1.02B |
Cash Flow | |||||
| Free Cash Flow | 369.00M | 305.00M | 268.15M | 243.89M | 294.68M |
| Operating Cash Flow | 386.00M | 350.00M | 308.72M | 284.02M | 329.46M |
| Investing Cash Flow | -108.00M | -46.00M | -36.56M | -834.98M | -33.59M |
| Financing Cash Flow | -333.00M | -218.00M | -244.63M | 456.38M | -410.82M |
Arcadis NV Technical Analysis
Negative
32.76
Price Trends
34.10
Negative
31.89
Positive
35.40
Negative
Market Momentum
-0.27
Positive
38.64
Neutral
20.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:ARCAD, the sentiment is Negative. The current price of 32.76 is below the 20-day moving average (MA) of 34.60, below the 50-day MA of 34.10, and below the 200-day MA of 35.40, indicating a bearish trend. The MACD of -0.27 indicates Positive momentum. The RSI at 38.64 is Neutral, neither overbought nor oversold. The STOCH value of 20.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:ARCAD.
Arcadis NV Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €5.00B | 8.73 | 15.92% | 4.27% | -1.27% | 67.83% | |
74 Outperform | €3.13B | 24.10 | 25.42% | 2.44% | 7.27% | 44.67% | |
70 Outperform | €2.86B | 19.32 | 14.59% | 2.85% | -2.40% | -13.52% | |
68 Neutral | €3.34B | 14.96 | 11.89% | 2.69% | 9.06% | 160.53% | |
62 Neutral | €4.21B | 48.12 | 6.13% | 4.08% | -1.84% | -15.89% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €1.05B | -51.25 | -1.54% | 8.99% | -18.78% | -107.52% |
* General Sector Average
NL:ARCAD
Arcadis NV
33.62
-6.53
-16.27%
NL:AALB
Aalberts Industries N.V.
38.98
9.39
31.75%
NL:BAMNB
Koninklijke Bam Groep NV
12.27
5.10
71.13%
NL:FUR
Fugro NV
9.45
-2.07
-17.99%
NL:HEIJM
Heijmans N.V.
114.00
62.61
121.82%
NL:VPK
Royal Vopak NV
45.64
6.07
15.33%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.