Koninklijke Bam Groep NV (BAMNB) AI Stock Analysis

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Koninklijke Bam Groep NV

(Amsterdam:BAMNB)

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Rating:75Outperform

Price Target:EUR 13.00▼(-3.70% Downside)

Action:upgraded

Date:09/29/26

The score is driven primarily by improving financial performance (notably stronger profitability and robust, growing free cash flow), supported by strong technicals with price above key moving averages and positive momentum. The main offsets are historical earnings/cash-flow volatility and higher leverage in 2025, while valuation appears fair with a moderate P/E and a modest dividend yield.

Positive Factors

Improving profitability and revenueImproved profitability alongside renewed revenue growth indicates that BAM’s operating performance recovered in the latest year. If sustained, stronger earnings can support reinvestment, reinforce execution capacity, and provide a more durable base for growth across its construction and infrastructure activities.

Negative Factors

Rising leverage reduces flexibilityThe recent increase in debt relative to equity raises balance-sheet risk and reduces financial flexibility compared with BAM’s earlier position. Higher leverage can constrain future capital allocation, increase sensitivity to weaker project execution, and make downturns more difficult to absorb.

Koninklijke Bam Groep NV (BAMNB) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 3.63B
Dividend Yield: 2.22%
Average Volume (3M): 650.76K
Price to Earnings (P/E): 14.5
Beta (1Y): 0.95
Revenue Growth: 7.01%
EPS Growth: 87.12%
Country: Netherlands
Employees: 13,500
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Koninklijke Bam Groep NV Business Overview & Revenue Model

Company Description

Koninklijke BAM Groep nv, through its numerous subsidiaries, operates on a global scale, delivering a broad spectrum of services across the building and property, civil engineering, and public-private partnership (PPP) sectors. The firm specializes i...

How the Company Makes Money

BAM primarily makes money by acting as a contractor and project integrator on construction and infrastructure projects, earning revenue through contract-based project execution. Its main revenue streams generally include: (1) Construction and civil e...

Koninklijke Bam Groep NV Financial Statement Overview

Summary

Recent fundamentals are improving: profitability strengthened (net margin ~3.0% in 2025 vs ~1.3% in 2024) and revenue growth re-accelerated (~5.3% in 2025). Cash flow is a standout, with higher operating cash flow (~€345m) and rising free cash flow (~€281m). Offsetting this, results have been volatile across years (including prior loss/negative cash flow periods) and leverage increased in 2025 (debt-to-equity ~0.60), raising risk.

Income Statement

72Positive

Balance Sheet

61Positive

Cash Flow

79Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.15B	7.04B	6.46B	6.27B	6.62B	7.32B
Gross Profit	470.20M	454.30M	1.76B	1.70B	1.74B	1.89B
EBITDA	418.90M	380.80M	214.40M	288.93M	280.38M	177.17M
Net Income	236.50M	211.00M	82.20M	174.99M	179.64M	18.12M
Balance Sheet
Total Assets	4.28B	4.10B	3.89B	3.93B	3.82B	4.50B
Cash, Cash Equivalents and Short-Term Investments	715.00M	883.40M	763.40M	757.33M	842.77M	1.28B
Total Debt	415.00M	381.75M	323.20M	295.79M	227.31M	280.82M
Total Liabilities	3.30B	3.14B	3.00B	3.01B	3.01B	3.84B
Stockholders Equity	979.00M	958.00M	895.50M	920.50M	810.59M	653.59M
Cash Flow
Free Cash Flow	498.60M	281.20M	171.40M	21.39M	-290.40M	250.77M
Operating Cash Flow	547.80M	344.70M	256.70M	105.71M	-195.91M	320.23M
Investing Cash Flow	-105.50M	4.10M	-107.60M	-91.45M	-163.03M	-165.56M
Financing Cash Flow	-221.80M	-197.90M	-172.40M	-108.51M	-93.22M	-662.08M

Koninklijke Bam Groep NV Technical Analysis

Technical Analysis SentimentPositive

Last Price13.50

Price Trends

50DMA11.99Positive

100DMA11.84Positive

200DMA10.68Positive

Market Momentum

MACD0.37Negative

RSI73.16Negative

STOCH96.26Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:BAMNB, the sentiment is Positive. The current price of 13.50 is above the 20-day moving average (MA) of 12.25, above the 50-day MA of 11.99, and above the 200-day MA of 10.68, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 73.16 is Negative, neither overbought nor oversold. The STOCH value of 96.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:BAMNB.

Koninklijke Bam Groep NV Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:BAMNB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:BAMNB	75Outperform	EUR 3.63B	14.52	24.42%	2.22%	7.01%	87.12%
NL:ARCAD	73Outperform	EUR 4.00B	20.29	19.42%	2.22%	-0.71%	-12.00%
NL:SBMO	73Outperform	EUR 5.31B	6.85	20.73%	2.99%	0.92%	151.43%
NL:HEIJM	71Outperform	EUR 2.39B	16.82	26.13%	2.69%	11.28%	28.75%
NL:CTPNV	65Neutral	EUR 6.55B	12.67	―	5.15%	11.87%	-56.32%
NL:FUR	58Neutral	EUR 924.24M	-14.62	-4.97%	1.79%	-10.78%	-145.27%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

NL:BAMNB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:BAMNB	Koninklijke Bam Groep NV	13.50	5.97	79.21%
NL:ARCAD	Arcadis NV	47.28	11.41	31.83%
NL:FUR	Fugro NV	8.39	-0.13	-1.51%
NL:HEIJM	Heijmans N.V.	88.15	31.41	55.35%
NL:SBMO	SBM Offshore NV	33.76	10.26	43.64%
NL:CTPNV	CTP N.V.	12.92	-4.33	-25.12%

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.

Date of analysis: Sep 29, 2026

Koninklijke Bam Groep NV AI Stock Analysis