OTCPK:VLNV.F

Stock Analysis Report

Executive Summary

Van Lanschot Kempen N.V. provides financial services in the Netherlands and internationally.

Snowflake

Fundamentals

Adequate balance sheet second-rate dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

OTCPK:VLNV.F

-2.5%

US Banks

-0.7%

US Market


1 Year Return

n/a

OTCPK:VLNV.F

-14.2%

US Banks

-0.5%

US Market

No trading data on VLNV.F.

No trading data on VLNV.F.


Share holder returns

VLNV.FIndustryMarket
7 Day0%-2.5%-0.7%
30 Day0%-6.1%-3.0%
90 Day0%-3.8%0.9%
1 Yearn/a-11.8%-14.2%1.7%-0.5%
3 Yearn/a42.1%32.4%39.5%30.4%
5 Yearn/a53.3%36.7%54.1%37.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Van Lanschot Kempen undervalued based on future cash flows and its price relative to the stock market?

13.26x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Van Lanschot Kempen's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Van Lanschot Kempen's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Van Lanschot Kempen is overvalued based on earnings compared to the US Banks industry average.

Van Lanschot Kempen is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Van Lanschot Kempen is poor value based on expected growth next year.


Price Based on Value of Assets

Van Lanschot Kempen is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is Van Lanschot Kempen expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Van Lanschot Kempen's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Van Lanschot Kempen's earnings are expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).

Van Lanschot Kempen's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.

Van Lanschot Kempen's earnings growth is positive but not above the United States of America market average.

Van Lanschot Kempen's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Van Lanschot Kempen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Van Lanschot Kempen performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Van Lanschot Kempen's year on year earnings growth rate has been positive over the past 5 years.

Van Lanschot Kempen's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Van Lanschot Kempen's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.


Return on Equity

Van Lanschot Kempen has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Van Lanschot Kempen used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Van Lanschot Kempen improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Van Lanschot Kempen's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

Van Lanschot Kempen has an acceptable proportion of non-loan assets held.

Van Lanschot Kempen has a low allowance for bad loans.

Van Lanschot Kempen's liabilities are made up of primarily low risk sources of funding.

Van Lanschot Kempen's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at Van Lanschot Kempen are broadly funded by customer deposits.

Van Lanschot Kempen has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is Van Lanschot Kempen's current dividend yield, its reliability and sustainability?

9.51%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Van Lanschot Kempen's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).

Van Lanschot Kempen's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (1x coverage).


Future Payout to Shareholders

Dividends after 3 years are not well covered by earnings (1.1x coverage).


Next Steps

Management

What is the CEO of Van Lanschot Kempen's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average management tenure


CEO

Karl Guha (55yo)

6.5yrs

Tenure

€1,538,000

Compensation

Mr. Karl K. Guha has been the Chairman of Board of Managing Directors of Van Lanschot NV(formerly known as F. van Lanschot Bankiers NV) since January 2, 2013 and also serves as its Chief Executive Officer. ...


CEO Compensation Analysis

Karl's remuneration is lower than average for companies of similar size in United States of America.

Karl's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

5.3yrs

Average Tenure

54yo

Average Age

The average tenure for the Van Lanschot Kempen management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

2.5yrs

Average Tenure

59yo

Average Age

The average tenure for the Van Lanschot Kempen board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month individual insider trading information.


Ownership Breakdown


Management Team

  • Constant Theodorus Korthout (57yo)

    CFO, Chief Risk Officer & Member of the Executive Board

    • Tenure: 8.8yrs
    • Compensation: €994.00k
  • Leni Maria Boeren (56yo)

    Member of the Executive Board

    • Tenure: 1.4yrs
  • Richard Bruens (52yo)

    Member of the Executive Board

    • Tenure: 5.2yrs
    • Compensation: €994.00k
  • Wim Meiss

    Company Secretary

    • Tenure: 0.0yrs
  • Robin Boon (54yo)

    Director of Communications

    • Tenure: 0.9yrs
  • Arjan Huisman (48yo)

    COO & Member of the Executive Board

    • Tenure: 9.2yrs
    • Compensation: €994.00k
  • Karl Guha (55yo)

    Chairman of the Executive Board

    • Tenure: 6.5yrs
    • Compensation: €1.54m
  • Willem Oosten

    Head of Treasury

    • Tenure: 5.3yrs
  • Ingrid Rombouts

    Investor Relations

    • Tenure: 0.0yrs
  • Leonne Der Sar (50yo)

    Member of the Executive Board

    • Tenure: 1.9yrs

Board Members

  • Willy Duron (74yo)

    Chairman of the Supervisory Board

    • Tenure: 3.6yrs
  • Jeanine Helthuis (57yo)

    Member of the Supervisory Board

    • Tenure: 6.0yrs
  • Manfred Schepers (59yo)

    Deputy Chairman of the Supervisory Board

    • Tenure: 2.2yrs
  • Frans Blom (57yo)

    Member of the Supervisory Board

    • Tenure: 0.8yrs
  • Bernadette J. Langius (59yo)

    Member of the Supervisory Board

    • Tenure: 4.2yrs
  • Lex van Overmeire (63yo)

    Member of the Supervisory Board

    • Tenure: 2.5yrs
  • Maarten Muller (65yo)

    Member of the Supervisory board

    • Tenure: 1.2yrs

Company Information

Van Lanschot Kempen N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Van Lanschot Kempen N.V.
  • Ticker: VLNV.F
  • Exchange: OTCPK
  • Founded: 1737
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €811.315m
  • Listing Market Cap: €913.334m
  • Shares outstanding: 40.65m
  • Website: https://www.vanlanschotkempen.com

Number of Employees


Location

  • Van Lanschot Kempen N.V.
  • Hooge Steenweg 29
  • ‘s-Hertogenbosch
  • Noord-Brabant
  • 5211 JN
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VLKENXTAM (Euronext Amsterdam)YesOrdinary Shares ANLEURJun 1999
VLNV.FOTCPK (Pink Sheets LLC)YesOrdinary Shares AUSUSDJun 1999
0O4BLSE (London Stock Exchange)YesOrdinary Shares AGBEURJun 1999
VA3BST (Boerse-Stuttgart)YesOrdinary Shares ADEEURJun 1999
VA3DB (Deutsche Boerse AG)YesOrdinary Shares ADEEURJun 1999

Biography

Van Lanschot Kempen N.V. provides financial services in the Netherlands and internationally. The company operates through Private Banking, Evi, Asset Management, Merchant Banking, Corporate Banking, and Ot ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/14 00:16
End of Day Share Price2019/04/15 00:00
Earnings2018/12/31
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.