Van Lanschot Kempen NV

LSE:0O4B Stock Report

Market Cap: €1.9b

Van Lanschot Kempen Valuation

Is 0O4B undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0O4B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0O4B (€44.45) is trading above our estimate of fair value (€41.69)

Significantly Below Fair Value: 0O4B is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0O4B?

Key metric: As 0O4B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0O4B. This is calculated by dividing 0O4B's market cap by their current earnings.
What is 0O4B's PE Ratio?
PE Ratio13.5x
Earnings€138.87m
Market Cap€1.88b

Price to Earnings Ratio vs Peers

How does 0O4B's PE Ratio compare to its peers?

The above table shows the PE ratio for 0O4B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.7x
N91 Ninety One Group
8.9x2.0%UK£1.5b
RAT Rathbones Group
28.1x33.5%UK£1.8b
JTC JTC
54.8x29.0%UK£1.6b
QLT Quilter
38.9x36.6%UK£1.9b
0O4B Van Lanschot Kempen
13.5x6.9%€1.9b

Price-To-Earnings vs Peers: 0O4B is good value based on its Price-To-Earnings Ratio (13.5x) compared to the peer average (32.7x).

Price to Earnings Ratio vs Industry

How does 0O4B's PE Ratio compare vs other companies in the GB Capital Markets Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PNIX Phoenix Digital Assets
1.1xn/aUS$32.25m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.4xn/aUS$5.78m
No more companies available in this PE range
0O4B 13.5xIndustry Avg. 12.1xNo. of Companies16PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0O4B is expensive based on its Price-To-Earnings Ratio (13.5x) compared to the UK Capital Markets industry average (12.2x).

Price to Earnings Ratio vs Fair Ratio

What is 0O4B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0O4B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.5x
Fair PE Ratio15.5x

Price-To-Earnings vs Fair Ratio: 0O4B is good value based on its Price-To-Earnings Ratio (13.5x) compared to the estimated Fair Price-To-Earnings Ratio (15.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0O4B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€44.45
€45.50
+2.4%
2.2%€46.50€44.50n/a2
Nov ’25€42.15
€45.50
+7.9%
2.2%€46.50€44.50n/a2
Oct ’25€42.55
€45.50
+6.9%
2.2%€46.50€44.50n/a2
Sep ’25€41.50
€45.50
+9.6%
2.2%€46.50€44.50n/a2
Aug ’25€39.05
€42.85
+9.7%
6.2%€45.50€40.20n/a2
Jul ’25€37.95
€39.10
+3.0%
2.8%€40.20€38.00n/a2
Jun ’25€37.65
€35.75
-5.0%
6.3%€38.00€33.50n/a2
May ’25€33.45
€34.25
+2.4%
2.2%€35.00€33.50n/a2
Apr ’25€31.62
€34.25
+8.3%
2.2%€35.00€33.50n/a2
Mar ’25€31.49
€34.25
+8.8%
2.2%€35.00€33.50n/a2
Feb ’25€27.70
€32.50
+17.3%
1.5%€33.00€32.00n/a2
Jan ’25€28.12
€35.25
+25.4%
6.4%€37.50€33.00n/a2
Dec ’24€29.32
€35.25
+20.2%
6.4%€37.50€33.00n/a2
Nov ’24€25.39
€35.25
+38.8%
6.4%€37.50€33.00€42.152
Oct ’24€25.58
€35.25
+37.8%
6.4%€37.50€33.00€42.552
Sep ’24€27.22
€35.25
+29.5%
6.4%€37.50€33.00€41.502
Aug ’24€29.82
€37.00
+24.1%
1.4%€37.50€36.50€39.052
Jul ’24€30.70
€34.75
+13.2%
7.9%€37.50€32.00€37.952

Analyst Forecast: Target price is less than 20% higher than the current share price.

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