ENXTAM:VPK

Stock Analysis Report

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Executive Summary

Koninklijke Vopak N.V., an independent tank storage company, stores and handles liquid chemicals, gases and LNG, oil products, biofuels, and vegetable oils worldwide.


Snowflake Analysis

Solid track record established dividend payer.


Similar Companies

Share Price & News

How has Koninklijke Vopak's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-2.6%

VPK

-5.1%

NL Oil and Gas

-3.0%

NL Market


1 Year Return

3.4%

VPK

-32.0%

NL Oil and Gas

-12.2%

NL Market

Return vs Industry: VPK exceeded the Dutch Oil and Gas industry which returned -32% over the past year.

Return vs Market: VPK exceeded the Dutch Market which returned -12.2% over the past year.


Shareholder returns

VPKIndustryMarket
7 Day-2.6%-5.1%-3.0%
30 Day-2.2%-7.0%-3.3%
90 Day-9.6%-1.5%10.4%
1 Year5.7%3.4%-27.7%-32.0%-9.6%-12.2%
3 Year20.2%11.6%-6.1%-20.0%0.9%-9.2%
5 Year10.6%-2.0%6.6%-18.4%18.2%-3.7%

Price Volatility Vs. Market

How volatile is Koninklijke Vopak's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Koninklijke Vopak undervalued compared to its fair value and its price relative to the market?

4.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VPK (€46.35) is trading below our estimate of fair value (€48.33)

Significantly Below Fair Value: VPK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: VPK is poor value based on its PE Ratio (9.9x) compared to the XE Oil and Gas industry average (7.6x).

PE vs Market: VPK is good value based on its PE Ratio (9.9x) compared to the Dutch market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: VPK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: VPK is overvalued based on its PB Ratio (2x) compared to the XE Oil and Gas industry average (0.6x).


Next Steps

Future Growth

How is Koninklijke Vopak forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-5.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VPK's earnings are forecast to decline over the next 3 years (-5.1% per year).

Earnings vs Market: VPK's earnings are forecast to decline over the next 3 years (-5.1% per year).

High Growth Earnings: VPK's earnings are forecast to decline over the next 3 years.

Revenue vs Market: VPK's revenue (3.6% per year) is forecast to grow slower than the Dutch market (7.1% per year).

High Growth Revenue: VPK's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VPK's Return on Equity is forecast to be low in 3 years time (11.1%).


Next Steps

Past Performance

How has Koninklijke Vopak performed over the past 5 years?

5.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VPK has a large one-off gain of €249.2M impacting its June 30 2020 financial results.

Growing Profit Margin: VPK's current net profit margins (49.3%) are higher than last year (22.8%).


Past Earnings Growth Analysis

Earnings Trend: VPK's earnings have grown by 5.7% per year over the past 5 years.

Accelerating Growth: VPK's earnings growth over the past year (104.3%) exceeds its 5-year average (5.7% per year).

Earnings vs Industry: VPK earnings growth over the past year (104.3%) exceeded the Oil and Gas industry -15.8%.


Return on Equity

High ROE: VPK's Return on Equity (20.2%) is considered high.


Next Steps

Financial Health

How is Koninklijke Vopak's financial position?


Financial Position Analysis

Short Term Liabilities: VPK's short term assets (€552.6M) do not cover its short term liabilities (€915.0M).

Long Term Liabilities: VPK's short term assets (€552.6M) do not cover its long term liabilities (€2.5B).


Debt to Equity History and Analysis

Debt Level: VPK's debt to equity ratio (61.6%) is considered high.

Reducing Debt: VPK's debt to equity ratio has reduced from 128.4% to 61.6% over the past 5 years.

Debt Coverage: VPK's debt is well covered by operating cash flow (38%).

Interest Coverage: VPK's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet


Next Steps

Dividend

What is Koninklijke Vopak current dividend yield, its reliability and sustainability?

2.37%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VPK's dividend (2.37%) is higher than the bottom 25% of dividend payers in the Dutch market (2.19%).

High Dividend: VPK's dividend (2.37%) is low compared to the top 25% of dividend payers in the Dutch market (5.8%).


Stability and Growth of Payments

Stable Dividend: VPK's dividends per share have been stable in the past 10 years.

Growing Dividend: VPK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.6%), VPK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: VPK's dividends in 3 years are forecast to be well covered by earnings (43.5% payout ratio).


Next Steps

Management

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

9.6yrs

Average management tenure


CEO

Eelco Hoekstra (49 yo)

9.58yrs

Tenure

€2,324,000

Compensation

Mr. Eelco M. Hoekstra has been the Chief Executive Officer and Chairman of the Executive Board at Koninklijke Vopak N.V. (formerly known as Royal Vopak N.V.) since January 2011. Mr. Hoekstra has been Membe ...


CEO Compensation Analysis

Compensation vs Market: Eelco's total compensation ($USD2.74M) is about average for companies of similar size in the Dutch market ($USD2.34M).

Compensation vs Earnings: Eelco's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Eelco Hoekstra
Chairman of the Executive Board & CEO9.58yrs€2.32m0.047%
€ 2.7m
Gerard Paulides
CFO & Member of the Executive Board2.5yrs€996.00k0.0049%
€ 285.0k
Frits Eulderink
COO & Member of the Executive Board10.33yrs€1.65m0.024%
€ 1.4m
Jan Schutrops
Global Director of Operations & Technologyno datano datano data
Laurens de Graaf
Head of Investor Relationsno datano datano data
Peter Smid
Global Director of Legal Affairs & Corporate Secretaryno datano datano data
Karen Beuk
Global Director of Communicationno datano datano data
Edwin Taal
Global Director of Human Resourcesno datano datano data
Patrick Van Voort
President of Vopak Europe & Africano datano datano data
Dick Richelle
President of Asia & Middle East Divisionno datano datano data
Yan Chen
President of China & North Asia Divisionno datano datano data
Boudewijn Siemons
President of Americas Divisionno datano datano data

9.6yrs

Average Tenure

53yo

Average Age

Experienced Management: VPK's management team is seasoned and experienced (9.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ben Noteboom
Independent Chairman of Supervisory Board3.33yrs€111.50k0.0027%
€ 160.7k
Melchert Groot
Vice Chairman of Supervisory Board5.67yrs€78.50kno data
Reinier G. Zwitserloot
Independent Member of Supervisory Board10.83yrs€75.00kno data
B. van der Veer
Independent Member of Supervisory Board2.33yrs€80.00kno data
Lucrèce J. I. De Ridder
Independent Member of Supervisory Board2.33yrs€80.50kno data
Nicoletta Giadrossi
Independent Member of the Supervisory Board1.33yrs€73.50kno data

2.8yrs

Average Tenure

61.5yo

Average Age

Experienced Board: VPK'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

Koninklijke Vopak N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Koninklijke Vopak N.V.
  • Ticker: VPK
  • Exchange: ENXTAM
  • Founded: 1616
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: €5.864b
  • Shares outstanding: 126.52m
  • Website: https://www.vopak.com

Number of Employees


Location

  • Koninklijke Vopak N.V.
  • Westerlaan 10
  • Rotterdam
  • Zuid-Holland
  • 3016 CK
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VPKENXTAM (Euronext Amsterdam)YesOrdinary SharesNLEURNov 1999
VOPK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1999
0O8VLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 1999
VPK5DB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1999
VPKABATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 1999
VPKWBAG (Wiener Boerse AG)YesOrdinary SharesATEURNov 1999
VOPK.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDDec 2008

Biography

Koninklijke Vopak N.V., an independent tank storage company, stores and handles liquid chemicals, gases and LNG, oil products, biofuels, and vegetable oils worldwide. It owns and operates specialized facil ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/02 20:49
End of Day Share Price2020/07/31 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.