ENXTBR:VAN

Stock Analysis Report

Executive Summary

Van de Velde NV, together with its subsidiaries, designs, develops, manufactures, and markets fashionable luxury lingerie for women worldwide.


Snowflake Analysis

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Van de Velde's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VAN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

VAN

-1.9%

BE Luxury

-1.8%

BE Market


1 Year Return

-2.9%

VAN

21.1%

BE Luxury

8.2%

BE Market

Return vs Industry: VAN underperformed the Belgian Luxury industry which returned 21.1% over the past year.

Return vs Market: VAN underperformed the Belgian Market which returned 8.2% over the past year.


Shareholder returns

VANIndustryMarket
7 Day0%-1.9%-1.8%
30 Day-0.9%-3.4%-1.2%
90 Day12.9%-0.5%-0.4%
1 Year-0.5%-2.9%24.2%21.1%10.4%8.2%
3 Year-46.5%-50.4%74.3%63.1%-4.5%-10.8%
5 Year-35.0%-45.0%106.7%85.1%-3.1%-14.4%

Price Volatility Vs. Market

How volatile is Van de Velde's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Van de Velde undervalued compared to its fair value and its price relative to the market?

14.13x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VAN (€27.1) is trading above our estimate of fair value (€18.11)

Significantly Below Fair Value: VAN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: VAN is good value based on its PE Ratio (14.1x) compared to the Luxury industry average (18.3x).

PE vs Market: VAN is good value based on its PE Ratio (14.1x) compared to the Belgian market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VAN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VAN is overvalued based on its PB Ratio (2.7x) compared to the XE Luxury industry average (1.1x).


Next Steps

Future Growth

How is Van de Velde forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

3.1%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if VAN's forecast earnings growth is above the savings rate (0.7%).

Earnings vs Market: Insufficient data to determine if VAN's earnings are forecast to grow faster than the Belgian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VAN's revenue (3.1% per year) is forecast to grow faster than the Belgian market (2.8% per year).

High Growth Revenue: VAN's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if VAN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Van de Velde performed over the past 5 years?

9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VAN has a high level of non-cash earnings.

Growing Profit Margin: VAN's current net profit margins (11.8%) are lower than last year (14.1%).


Past Earnings Growth Analysis

Earnings Trend: VAN's earnings have grown by 9.4% per year over the past 5 years.

Accelerating Growth: VAN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VAN had negative earnings growth (-17.3%) over the past year, making it difficult to compare to the Luxury industry average (-11.5%).


Return on Equity

High ROE: VAN's Return on Equity (17.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Van de Velde's financial position?


Financial Position Analysis

Short Term Liabilities: VAN's short term assets (€89.7M) exceed its short term liabilities (€27.1M).

Long Term Liabilities: VAN's short term assets (€89.7M) exceed its long term liabilities (€21.1M).


Debt to Equity History and Analysis

Debt Level: VAN is debt free.

Reducing Debt: VAN has no debt compared to 5 years ago when its debt to equity ratio was 0.01%.

Debt Coverage: VAN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: VAN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: VAN has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if VAN's debt is covered by short term assets.


Next Steps

Dividend

What is Van de Velde's current dividend yield, its reliability and sustainability?

3.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VAN's dividend (3.8%) is higher than the bottom 25% of dividend payers in the Belgian market (2.06%).

High Dividend: VAN's dividend (3.8%) is low compared to the top 25% of dividend payers in the Belgian market (4.31%).


Stability and Growth of Payments

Stable Dividend: VAN's dividend payments have been volatile in the past 10 years.

Growing Dividend: VAN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.7%), VAN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average board tenure


CEO

Marleen Vaesen (60yo)

1.2yrs

Tenure

Ms. Marleen Vaesen serves as the Chief Executive Officer and Managing Director of Van de Velde NV since December 2018. She serves as the Chief Executive Officer of De Weide Blik N.V. Ms. Vaesen was Chief E ...


Board Members

NamePositionTenureCompensationOwnership
Marleen Vaesen
CEO, MD & Director1.2yrsno datano data
Lucas A. M. Laureys
Non Executive Director0yrs€45.90kno data
Herman Van de Velde
President of the Board of Directors4.1yrsno datano data
Benoit Graulich
Representative Director1.1yrsno datano data
Dirk Goeminne
Independent Director0yrsno datano data
Bénédicte Laureys
Non Executive Director0yrs€12.00kno data
Phillip Vandervoort
Director2.8yrsno datano data
Yvan Jansen
Independent Director7.5yrsno datano data
Veronique Laureys
Director2.8yrsno datano data
Isabelle Maes
Director1.1yrsno datano data

2.8yrs

Average Tenure

58yo

Average Age

Experienced Board: VAN's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Van de Velde NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Van de Velde NV
  • Ticker: VAN
  • Exchange: ENXTBR
  • Founded: 1919
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: €360.741m
  • Shares outstanding: 13.31m
  • Website: https://www.vandevelde.eu

Number of Employees


Location

  • Van de Velde NV
  • Lageweg 4
  • Schellebelle
  • East Flanders
  • 9260
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VANENXTBR (Euronext Brussels)YesOrdinary SharesBEEUROct 1997
0IWVLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1997
VANBBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1997
VDEV.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1997

Biography

Van de Velde NV, together with its subsidiaries, designs, develops, manufactures, and markets fashionable luxury lingerie for women worldwide. It operates through two segments, Wholesale and Retail. The company offers its products under the PrimaDonna, Marie Jo, Andres Sarda, and Lingerie Styling brands. It also operates retail chains under the Lincherie, Rigby & Peller, and Private Shop brands, as well as an e-commerce Website. The company was founded in 1919 and is headquartered in Schellebelle, Belgium. Van de Velde NV is a subsidiary of Van de Velde Holding NV. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 20:50
End of Day Share Price2020/02/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.