(VPK) Koninklijke Vopak - Overview
Sector: Energy | Industry: Oil & Gas Midstream | Exchange: AS (Netherlands) | Market Cap: 5.295m EUR | Total Return: 21.6% in 12m
Avg Turnover: 6.44M
EPS Trend: 71.1%
Qual. Beats: 0
Rev. Trend: 94.3%
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Koninklijke Vopak N.V. is a Netherlands-based provider of independent tank storage and infrastructure for the energy and chemical manufacturing sectors. The company operates a global network of terminals, jetties, and pipelines designed to handle liquid chemicals, gases, oil products, and biofuels. Its portfolio is currently transitioning to include low-carbon infrastructure for hydrogen, ammonia, and carbon capture and storage (CCS).
The tank storage business model relies on long-term contracts and throughput fees, providing high barriers to entry due to the capital-intensive nature of specialized port infrastructure. As an independent operator, Vopak does not own the commodities it stores, reducing direct exposure to volatile energy prices while remaining critical to global supply chain logistics. Further insights into Vopak’s valuation and sector positioning are available on ValueRay.
- Storage demand for liquified natural gas and industrial gases drives revenue growth
- Global chemical production volumes determine terminal occupancy rates and handling fees
- Portfolio shift toward low-carbon hydrogen and ammonia infrastructure influences long-term valuation
- Fluctuations in global oil storage spreads impact short-term spot capacity demand
- Increasing interest rates elevate financing costs for capital-intensive infrastructure expansion projects
| Net Income: 933.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -2.44 > 1.0 |
| NWC/Revenue: -2.11% < 20% (prev -22.61%; Δ 20.50% < -1%) |
| CFO/TA 0.11 > 3% & CFO 782.1m > Net Income 933.8m |
| Net Debt (3.90b) to EBITDA (1.32b): 2.96 < 3 |
| Current Ratio: 0.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (127.4m) vs 12m ago 3.09% < -2% |
| Gross Margin: 32.94% > 18% (prev 0.64%; Δ 3.23k% > 0.5%) |
| Asset Turnover: 38.02% > 50% (prev 36.66%; Δ 1.36% > 0%) |
| Interest Coverage Ratio: 3.21 > 6 (EBITDA TTM 1.32b / Interest Expense TTM 235.8m) |
| A: -0.01 (Total Current Assets 521.9m - Total Current Liabilities 577.1m) / Total Assets 7.11b |
| B: 0.49 (Retained Earnings 3.48b / Total Assets 7.11b) |
| C: 0.11 (EBIT TTM 757.0m / Avg Total Assets 6.88b) |
| D: 0.88 (Book Value of Equity 3.29b / Total Liabilities 3.73b) |
| Altman-Z'' = 3.21 = A |
| DSRI: 1.01 (Receivables 338.7m/312.9m, Revenue 2.62b/2.44b) |
| GMI: 1.96 (GM 32.94% / 64.43%) |
| AQI: 1.05 (AQ_t 0.38 / AQ_t-1 0.36) |
| SGI: 1.07 (Revenue 2.62b / 2.44b) |
| TATA: 0.02 (NI 933.8m - CFO 782.1m) / TA 7.11b) |
| Beneish M = -2.05 (Cap -4..+1) = BB |
As of May 25, 2026, the stock is trading at EUR 46.50 with a total of 115,971 shares traded.
Over the past week, the price has changed by +1.09%,
over one month by +12.54%,
over three months by +11.61% and
over the past year by +21.56%.
Koninklijke Vopak has no consensus analysts rating.
P/E Trailing = 8.8506
P/E Forward = 15.625
P/S = 4.0272
P/B = 1.6171
P/EG = 1.31
Revenue TTM = 2.62b EUR
EBIT TTM = 757.0m EUR
EBITDA TTM = 1.32b EUR
Long Term Debt = 2.03b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 186.6m EUR (from shortTermDebt, last fiscal year)
Debt = 4.00b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 615.3m
Net Debt = 3.90b EUR (calculated: Debt 4.00b - CCE 99.5m)
Enterprise Value = 9.19b EUR (5.29b + Debt 4.00b - CCE 99.5m)
Interest Coverage Ratio = 3.21 (Ebit TTM 757.0m / Interest Expense TTM 235.8m)
EV/FCF = 20.95x (Enterprise Value 9.19b / FCF TTM 438.8m)
FCF Yield = 4.77% (FCF TTM 438.8m / Enterprise Value 9.19b)
FCF Margin = 16.76% (FCF TTM 438.8m / Revenue TTM 2.62b)
Net Margin = 35.67% (Net Income TTM 933.8m / Revenue TTM 2.62b)
Gross Margin = 32.94% ((Revenue TTM 2.62b - Cost of Revenue TTM 1.76b) / Revenue TTM)
Gross Margin QoQ = 83.44% (prev -4.16%)
Tobins Q-Ratio = 1.29 (Enterprise Value 9.19b / Total Assets 7.11b)
Interest Expense / Debt = 5.90% (Interest Expense 235.8m / Debt 4.00b)
Taxrate = 18.44% (42.1m / 228.6m)
NOPAT = 617.4m (EBIT 757.0m * (1 - 18.44%))
Current Ratio = 0.90 (Total Current Assets 521.9m / Total Current Liabilities 577.1m)
Debt / Equity = 1.22 (Debt 4.00b / totalStockholderEquity, last fiscal year 3.27b)
Debt / EBITDA = 2.96 (Net Debt 3.90b / EBITDA 1.32b)
Debt / FCF = 8.88 (Net Debt 3.90b / FCF TTM 438.8m)
Total Stockholder Equity = 3.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.56% (Net Income 933.8m / Total Assets 7.11b)
RoE = 30.08% (Net Income TTM 933.8m / Total Stockholder Equity 3.10b)
RoCE = 14.74% (EBIT 757.0m / Capital Employed (Equity 3.10b + L.T.Debt 2.03b))
RoIC = 9.21% (NOPAT 617.4m / Invested Capital 6.70b)
WACC = 5.91% (E(5.29b)/V(9.29b) * Re(6.74%) + D(4.00b)/V(9.29b) * Rd(5.90%) * (1-Tc(0.18)))
Discount Rate = 6.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -28.89 | Cagr: 0.70%
[DCF] Terminal Value 73.10% ; FCFF base≈492.6m ; Y1≈432.0m ; Y5≈349.0m
[DCF] Fair Price = 14.88 (EV 5.60b - Net Debt 3.90b = Equity 1.71b / Shares 114.6m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 71.13 | EPS CAGR: 12.38% | SUE: 0.0 | # QB: 0
Revenue Correlation: 94.35 | Revenue CAGR: 15.98% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=3.17 | Chg30d=-3.84% | Revisions=+0% | GrowthEPS=-11.1% | GrowthRev=+1.8%
EPS next Year (2027-12-31): EPS=3.79 | Chg30d=-3.63% | Revisions=-33% | GrowthEPS=+19.4% | GrowthRev=+2.6%
[Analyst] Revisions Ratio: -33%