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Van Lanschot N.V.
(VLK)
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Rating:75Outperform
Price Target:
€70.00
▲(6.22% Upside)
Action:Reiterated
Date:09/17/26
Overall score is driven primarily by solid financial performance (strong 2025 revenue growth and improved cash generation) but held back by higher leverage and volatility/inconsistencies in historical profitability and cash conversion. Technicals add support with an established uptrend and positive momentum, while valuation is helped by a reasonable P/E and a strong dividend yield.
Positive Factors
Revenue Growth and Profitability
Revenue growth of 66% in 2025, alongside 13% net and 17% operating margins, indicates strong recent earnings momentum across the business. If profitability remains resilient, this scale can support reinvestment and strengthen the group's ability to compound client-related income.
Negative Factors
Higher Leverage and Softer Equity
The increase in leverage and decline in equity reduce balance-sheet flexibility relative to the prior year. Higher debt exposure can constrain capital allocation and leave less room to absorb weaker conditions, making sustained earnings and disciplined balance-sheet management more important.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Profitability
Revenue growth of 66% in 2025, alongside 13% net and 17% operating margins, indicates strong recent earnings momentum across the business. If profitability remains resilient, this scale can support reinvestment and strengthen the group's ability to compound client-related income.
Read all positive factors
Van Lanschot N.V. (VLK) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€2.64B
Dividend Yield6.12%
Average Volume (3M)47.85K
Price to Earnings (P/E)15.7
Beta (1Y)1.06
Revenue Growth4.68%
EPS GrowthN/A
CountryNL
Employees2,165
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.96
Shares Outstanding43,036,926
10 Day Avg. Volume37,886
30 Day Avg. Volume47,846
Financial Highlights & Ratios
PEG Ratio1.21
Price to Book (P/B)1.76
Price to Sales (P/S)1.84
P/FCF Ratio3.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.55
Revenue Forecast (FY)€854.72M
Van Lanschot N.V. Business Overview & Revenue Model
Company Description
Headquartered in 's-Hertogenbosch, the Netherlands, Van Lanschot Kempen N.V., a financial institution established in 1737, delivers a comprehensive suite of financial services to clients across the Netherlands, Belgium, and globally. The company p...
How the Company Makes Money
Van Lanschot N.V. primarily makes money through a combination of (1) fee and commission income from wealth/asset management and advisory services and (2) net interest income from its banking and lending activities.
1) Fees and commissions (wealth...
Van Lanschot N.V. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.25B | 1.22B | 717.55M | 667.35M | 592.87M | 616.54M |
| Gross Profit | 807.89M | 752.84M | 717.55M | 667.35M | 562.18M | 563.90M |
| EBITDA | 182.33M | 246.85M | 227.79M | 188.07M | 135.12M | 195.48M |
| Net Income | 177.72M | 157.31M | 141.75M | 125.20M | 84.16M | 143.73M |
Balance Sheet | ||||||
| Total Assets | 17.36B | 17.78B | 16.98B | 16.84B | 17.02B | 16.31B |
| Cash, Cash Equivalents and Short-Term Investments | 1.78B | 2.25B | 2.49B | 3.36B | 3.76B | 4.24B |
| Total Debt | 2.63B | 2.65B | 2.40B | 2.49B | 2.11B | 2.58B |
| Total Liabilities | 16.06B | 16.50B | 15.61B | 15.49B | 15.64B | 14.90B |
| Stockholders Equity | 1.30B | 1.28B | 1.38B | 1.35B | 1.38B | 1.41B |
Cash Flow | ||||||
| Free Cash Flow | 432.92M | 580.42M | 59.15M | 271.29M | 219.46M | 1.17B |
| Operating Cash Flow | 469.81M | 653.05M | 85.91M | 290.25M | 230.72M | 1.36B |
| Investing Cash Flow | 226.98M | -373.15M | -810.69M | -365.56M | -624.97M | 474.21M |
| Financing Cash Flow | -142.31M | -172.47M | -155.89M | -145.19M | -187.81M | -335.54M |
Van Lanschot N.V. Technical Analysis
Negative
65.90
Price Trends
65.76
Negative
66.03
Negative
61.17
Positive
Market Momentum
-0.94
Negative
38.70
Neutral
70.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:VLK, the sentiment is Negative. The current price of 65.9 is above the 20-day moving average (MA) of 63.25, above the 50-day MA of 65.76, and above the 200-day MA of 61.17, indicating a neutral trend. The MACD of -0.94 indicates Negative momentum. The RSI at 38.70 is Neutral, neither overbought nor oversold. The STOCH value of 70.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:VLK.
Van Lanschot N.V. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €2.64B | 15.67 | 13.78% | 6.12% | 4.68% | ― | |
70 Outperform | €78.77B | 12.02 | 13.48% | 4.63% | 6.57% | 17.38% | |
67 Neutral | €32.29B | 13.71 | 10.15% | 4.25% | -2.84% | 11.56% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €11.11B | 11.38 | 12.23% | 5.68% | 16.43% | -22.63% | |
53 Neutral | €19.59B | 11.47 | 8.86% | 5.21% | 39.01% | 44.63% |
* General Sector Average
NL:VLK
Van Lanschot N.V.
62.05
14.17
29.59%
NL:ABN
ABN AMRO Group N.V.
39.62
15.00
60.93%
NL:AGN
Aegon NV
7.39
1.15
18.36%
NL:INGA
ING GROEP
28.26
7.59
36.76%
NL:NN
NN Group N.V.
77.78
21.46
38.11%
NL:TRIO
TRIODOS BANK NV Depositary Receipt
34.40
7.40
27.38%
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.