Van Elle Holdings (VANL) AI Stock Analysis

• Market Cap: £40.03M
• Dividend Yield: 3.29%
• Average Volume (3M): 356.89K
• Price to Earnings (P/E): 80.4
• Beta (1Y): 0.42
• Revenue Growth: -6.46%
• EPS Growth: -56.20%
• Country: UK
• Employees: 670
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): <0.01
• Shares Outstanding: 108,200,750
• 10 Day Avg. Volume: 277,795
• 30 Day Avg. Volume: 356,893
• PEG Ratio: -0.36
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.29
• P/FCF Ratio: 17.12
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.02
• Revenue Forecast (FY): £139.93M

• Rating: 57 Neutral
• Price Target: 39.00p ▲(8.33% Upside)
• Action: Reiterated Date: 12/07/25
• Date: Action: Reiterated 12/07/25

Van Elle Holdings' overall stock score reflects a stable financial position with challenges in revenue growth and profitability. Technical indicators suggest a bearish trend, and valuation metrics indicate moderate attractiveness. Corporate events highlight governance stability but also reveal trading challenges. The stock's medium-term outlook in specific sectors provides some positive prospects.

Positive Factors

Conservative balance sheet

A conservative capital structure with a manageable debt-to-equity ratio and healthy equity ratio supports resiliency through project timing and cyclicality. Positive ROE indicates the business can generate shareholder returns while retaining flexibility to finance plant, bidding and working capital needs.

Improving free cash flow

Material improvement in free cash flow enhances liquidity and reduces reliance on external funding for fleet upkeep and project mobilisation. Stronger cash generation provides durable support for working capital, helps absorb timing differences on stage payments, and underpins sustainable operations over the medium term.

Structural demand in energy & water

Exposure to energy and water infrastructure projects aligns the business with multi-year public and regulated spending trends. These sectors typically offer longer contracts and less cyclicality than pure residential markets, improving revenue visibility and supporting more predictable utilisation of specialist piling fleets.

Negative Factors

Inconsistent revenue growth

Intermittent top-line performance reduces predictability of backlog conversion and makes capacity planning harder for specialised crews and plant. Sustained or recurring revenue declines can reduce utilisation, increase unit costs, and constrain the firm's ability to invest in equipment or win larger contracts over the medium term.

Material EPS deterioration

A severe drop in EPS indicates significant earnings volatility or one-off hits that weaken retained earnings. Persistent EPS deterioration impairs reinvestment capacity, undermines stakeholder confidence, and can limit the company's ability to fund growth projects or absorb margin pressure without raising external capital.

Profitability and margin volatility

Volatile net margins point to inconsistent cost control, subcontractor or material price exposure, and project execution risk. In a contract-based construction model, fluctuating margins hamper long-term earnings visibility, reduce cash conversion consistency, and make it harder to sustainably improve returns despite stable gross margins.

Van Elle Holdings Business Overview & Revenue Model

Company Description

Van Elle Holdings plc, together with its subsidiaries, provides ground engineering services in the United Kingdom. It operates through three segments: General Piling, Specialist Piling and Rail, and Ground Engineering Services. The company offers various piling services, including augered, bored, drilled, rotary bored, continuous flight auger (CFA), sectional flight auger, cased CFA, driven, and restricted access and specialist piling services; and pile testing services comprising static and dynamic load, and pile integrity testing. It also provides temporary and permanent retaining walls and basement solutions, including contiguous piled walls, secant piled walls, king post walls, and steel sheet pile walls; and rail engineering services. In addition, the company offers ground investigation and monitoring services, such as cable percussion, rotary open hole/coring, window sampling, and engineering data and reporting; construction training services; and geotechnical engineering services, such as grouting. Further, it provides range of services for housebuilders, including ground investigation, ground improvement, and precast modular beam foundation systems, as well as ground stabilization services comprising embarkment, ground anchors, soil nails, rock bolts and netting, and retaining walls and structures; and design, piling, foundation, civil engineering, and embankment stabilization solutions for rail networks. Additionally, the company develops, manufactures, and installs precast concrete products for use in specialist foundation applications. It serves commercial and industrial building, residential, highway, rail, power, utility, infrastructure, and housing sectors. Van Elle Holdings plc was founded in 1984 and is headquartered in Kirkby-in-Ashfield, the United Kingdom.

How the Company Makes Money

Van Elle generates revenue primarily through its diverse range of ground engineering services. Key revenue streams include piling services, which involve the installation of deep foundations for buildings and structures, and ground investigation services, which assess soil conditions for construction projects. The company also earns income from associated services like site investigation, monitoring, and remediation. Significant partnerships with major construction firms and involvement in high-profile infrastructure projects enhance its market presence and contribute to its earnings. Additionally, Van Elle benefits from long-term contracts with clients in various sectors, providing a steady revenue flow.

Van Elle Holdings Financial Statement Overview

Summary

Van Elle Holdings demonstrates a stable financial foundation with strengths in its balance sheet and improving cash flow generation. However, the company faces challenges in maintaining consistent revenue growth and profitability. Continued focus on operational efficiency and cash management will be crucial for sustaining long-term financial health.

Income Statement

Van Elle Holdings has shown a mixed performance in its income statement. The gross profit margin has been relatively stable, but the net profit margin has seen fluctuations, indicating challenges in controlling costs. Revenue growth has been inconsistent, with a recent decline, which could be a concern for future profitability. The EBIT and EBITDA margins suggest moderate operational efficiency, but there's room for improvement.

Balance Sheet

The company's balance sheet reflects a stable financial position with a manageable debt-to-equity ratio, indicating a conservative approach to leverage. Return on equity has been positive, showing the company's ability to generate returns for shareholders. The equity ratio is healthy, suggesting a strong capital structure, but the company should continue to monitor its debt levels.

Cash Flow

Cash flow analysis reveals a significant improvement in free cash flow growth, which is a positive sign for liquidity. However, the operating cash flow to net income ratio indicates potential volatility in cash generation relative to earnings. The free cash flow to net income ratio suggests that cash generation is not consistently aligned with profitability, highlighting areas for improvement in cash management.

Breakdown	TTM	Apr 2024	Apr 2023	Apr 2022	Apr 2021	Apr 2020
Income Statement
Total Revenue	138.67M	130.47M	139.48M	148.73M	124.92M	84.37M
Gross Profit	39.92M	40.42M	41.93M	40.09M	34.07M	22.00M
EBITDA	12.96M	13.43M	13.71M	11.93M	9.69M	4.17M
Net Income	487.00K	1.84M	4.21M	4.68M	1.86M	-1.41M
Balance Sheet
Total Assets	94.38M	94.63M	98.86M	95.03M	88.57M	86.50M
Cash, Cash Equivalents and Short-Term Investments	6.74M	7.20M	6.00M	8.88M	6.99M	8.52M
Total Debt	13.06M	11.19M	7.65M	8.52M	6.85M	10.23M
Total Liabilities	40.60M	40.17M	46.13M	45.00M	41.96M	42.51M
Stockholders Equity	53.77M	54.45M	52.73M	50.03M	46.61M	43.98M
Cash Flow
Free Cash Flow	2.16M	2.19M	3.21M	4.06M	3.14M	6.00K
Operating Cash Flow	8.47M	5.77M	8.71M	10.23M	8.26M	2.14M
Investing Cash Flow	-3.91M	-4.82M	-6.58M	-5.60M	-4.74M	-1.32M
Financing Cash Flow	-1.46M	349.00K	-5.01M	-2.73M	-5.06M	-4.50M

Van Elle Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 36.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:VANL, the sentiment is Positive. The current price of 36 is below the 20-day moving average (MA) of 36.91, below the 50-day MA of 36.32, and below the 200-day MA of 36.63, indicating a bullish trend. The MACD of 0.24 indicates Positive momentum. The RSI at 54.01 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:VANL.

Van Elle Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KLR	80 Outperform	£1.38B	10.32	24.69%	3.08%	-1.17%	12.31%
MGNS	73 Outperform	£2.27B	13.30	24.19%	2.49%	6.93%	21.50%
GFRD	71 Outperform	£525.26M	16.28	27.48%	3.65%	5.78%	-6.80%
BILN	70 Neutral	£49.66M	8.21	11.79%	7.35%	-25.56%	-42.49%
SMJ	68 Neutral	£50.47M	9.95	3.98%	2.45%	5.54%	209.72%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
VANL	57 Neutral	£40.03M	80.43	5.90%	3.29%	-6.46%	-56.20%

Van Elle Holdings Corporate Events

Van Elle appoints Singer Capital Markets as new joint broker

Van Elle Holdings, the UK’s largest ground engineering contractor, has appointed Singer Capital Markets as joint corporate broker with immediate effect, following the transfer of Dowgate Capital’s corporate broking, advisory and research team to Singer. The move refreshes the company’s broking line-up alongside Peel Hunt and may enhance its access to capital markets support and investor engagement as it continues to serve diverse construction and infrastructure sectors.

The most recent analyst rating on (GB:VANL) stock is a Hold with a £39.00 price target. To see the full list of analyst forecasts on Van Elle Holdings stock, see the GB:VANL Stock Forecast page.

Van Elle lifts revenue amid tough markets as infrastructure focus and UK refocus underpin outlook

Van Elle reported a resilient first half to 31 October 2025, with revenue from continuing operations up 16% year-on-year to £73.4m, driven mainly by General Piling and the Specialist Piling & Rail division, although underlying profit before tax edged down to £1.9m and margins tightened amid competitive pressures and weak demand in some segments. The group strengthened its position in the energy and water infrastructure markets – including its 150th high-voltage substation and new framework wins – while rail activity lagged expectations and high-rise residential work, especially in London, was hampered by Building Safety Act-related approval delays; following the disposal of its Canadian business, an 8% higher order book, stable net funds and new asset-based lending facility leave the Board confident of meeting full-year expectations and capitalising on anticipated recovery in residential, rail and water sectors over the medium term.

The most recent analyst rating on (GB:VANL) stock is a Hold with a £39.00 price target. To see the full list of analyst forecasts on Van Elle Holdings stock, see the GB:VANL Stock Forecast page.

Van Elle Completes Sale of Canadian Subsidiary

Van Elle Holdings has completed the disposal of its Canadian subsidiary, Van Elle Canada Inc, with the transaction finalised on 19 December 2025 following an earlier announcement in mid-December. The move narrows the group’s operational footprint back towards its core UK-focused geotechnical engineering business and may allow management to sharpen its strategic focus and capital allocation on the company’s established domestic markets and long-standing end‑market relationships.

The most recent analyst rating on (GB:VANL) stock is a Hold with a £35.00 price target. To see the full list of analyst forecasts on Van Elle Holdings stock, see the GB:VANL Stock Forecast page.

Van Elle Holdings Reports Revenue Growth Amid Market Challenges

Van Elle Holdings reported a 12% increase in revenue for the first half of the fiscal year, reaching approximately £73 million, driven by growth in General Piling and Strata Geotechnics. Despite challenging market conditions, the company has strengthened its position in the UK’s Energy and Water sectors, with significant projects underway. The recent announcement by the Building Safety Regulator is expected to accelerate approvals for high-risk buildings, potentially benefiting Van Elle’s operations in 2026. The company remains confident in meeting full-year market expectations.

The most recent analyst rating on (GB:VANL) stock is a Hold with a £35.00 price target. To see the full list of analyst forecasts on Van Elle Holdings stock, see the GB:VANL Stock Forecast page.

Van Elle Holdings to Divest Canadian Subsidiary

Van Elle Holdings has agreed to sell its Canadian subsidiary, Van Elle Canada Inc, to a special purpose vehicle in partnership with Remcan Projects LP, with the transaction expected to complete by December 17, 2025. The sale, valued at approximately CAD $4.7 million, will allow Van Elle Canada to leverage local resources for growth opportunities in Ontario, while Van Elle continues to provide advisory services, aligning with its strategy to mitigate UK rail sector investment cyclicality.

The most recent analyst rating on (GB:VANL) stock is a Hold with a £35.00 price target. To see the full list of analyst forecasts on Van Elle Holdings stock, see the GB:VANL Stock Forecast page.