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Koninklijke Bam Groep NV
(BAMNB)
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Rating:68Neutral
Price Target:
€11.50
▲(4.55% Upside)
Action:Downgraded
Date:06/20/26
The score is primarily supported by improving recent profitability and strong, growing free cash flow. This is tempered by a history of volatility and rising leverage, and technically the uptrend is strong but momentum is overextended, raising pullback risk. Valuation is broadly reasonable with a moderate dividend yield.
Positive Factors
Improved Profitability
The material margin improvement indicates better project execution and cost control. If sustained across the order book, stronger profitability can improve resilience, support reinvestment, and enhance returns in BAM’s construction operations.
Negative Factors
Earnings Volatility
Large swings in margins and historical losses show that profitability remains sensitive to project execution, claims, procurement costs, and contract outcomes. This limits confidence that recent earnings improvement will persist through the cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
The material margin improvement indicates better project execution and cost control. If sustained across the order book, stronger profitability can improve resilience, support reinvestment, and enhance returns in BAM’s construction operations.
Read all positive factors
Koninklijke Bam Groep NV (BAMNB) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€3.15B
Dividend Yield2.61%
Average Volume (3M)816.99K
Price to Earnings (P/E)12.4
Beta (1Y)1.04
Revenue Growth7.01%
EPS Growth87.12%
CountryNL
Employees13,500
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.93
Shares Outstanding272,000,000
10 Day Avg. Volume780,763
30 Day Avg. Volume816,987
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)2.53
Price to Sales (P/S)0.34
P/FCF Ratio8.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€13.50Price Target Upside22.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.98
Revenue Forecast (FY)€7.41B
Koninklijke Bam Groep NV Business Overview & Revenue Model
Company Description
Koninklijke BAM Groep nv, through its numerous subsidiaries, operates on a global scale, delivering a broad spectrum of services across the building and property, civil engineering, and public-private partnership (PPP) sectors. The firm specialize...
How the Company Makes Money
BAM primarily makes money by contracting and delivering construction and civil-engineering projects for clients, recognizing revenue as it performs work under customer contracts. Key revenue streams include: (1) Building and renovation projects (e...
Koninklijke Bam Groep NV Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
61
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.15B | 7.04B | 6.46B | 6.27B | 6.62B | 7.32B |
| Gross Profit | 470.20M | 454.30M | 1.76B | 1.70B | 1.74B | 1.89B |
| EBITDA | 418.90M | 380.80M | 214.40M | 285.37M | 280.38M | 177.17M |
| Net Income | 236.50M | 211.00M | 82.20M | 174.99M | 179.64M | 18.12M |
Balance Sheet | ||||||
| Total Assets | 4.28B | 4.10B | 3.89B | 3.93B | 3.82B | 4.50B |
| Cash, Cash Equivalents and Short-Term Investments | 715.00M | 883.40M | 763.40M | 757.33M | 842.77M | 1.28B |
| Total Debt | 415.00M | 381.75M | 323.20M | 295.79M | 227.31M | 280.82M |
| Total Liabilities | 3.30B | 3.14B | 3.00B | 3.01B | 3.01B | 3.84B |
| Stockholders Equity | 979.00M | 958.00M | 895.50M | 920.50M | 810.59M | 653.59M |
Cash Flow | ||||||
| Free Cash Flow | 498.60M | 281.20M | 171.40M | 21.39M | -290.40M | 250.77M |
| Operating Cash Flow | 547.80M | 344.70M | 256.70M | 105.71M | -195.91M | 320.23M |
| Investing Cash Flow | -105.50M | 4.10M | -107.60M | -91.45M | -163.03M | -165.56M |
| Financing Cash Flow | -221.80M | -197.90M | -172.40M | -108.51M | -93.22M | -662.08M |
Koninklijke Bam Groep NV Technical Analysis
Negative
11.00
Price Trends
11.80
Negative
10.66
Positive
9.66
Positive
Market Momentum
0.06
Negative
47.52
Neutral
20.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:BAMNB, the sentiment is Negative. The current price of 11 is below the 20-day moving average (MA) of 11.51, below the 50-day MA of 11.80, and above the 200-day MA of 9.66, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 47.52 is Neutral, neither overbought nor oversold. The STOCH value of 20.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:BAMNB.
Koninklijke Bam Groep NV Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | €2.43B | 16.88 | 23.59% | 2.50% | 11.28% | 28.75% | |
73 Outperform | €3.75B | 18.70 | 19.64% | 2.52% | -0.71% | -12.00% | |
70 Outperform | €7.04B | 13.55 | ― | 3.86% | 12.95% | -53.58% | |
68 Neutral | €3.15B | 12.38 | 22.89% | 2.73% | 7.01% | 87.12% | |
62 Neutral | €5.96B | 7.52 | 22.22% | 1.49% | 0.92% | 151.43% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | €1.01B | -15.68 | -1.54% | 1.58% | -10.78% | -145.27% |
* General Sector Average
NL:BAMNB
Koninklijke Bam Groep NV
11.51
3.91
51.43%
NL:ARCAD
Arcadis NV
43.58
4.30
10.94%
NL:FUR
Fugro NV
9.01
-2.25
-20.01%
NL:HEIJM
Heijmans N.V.
88.45
26.70
43.24%
NL:SBMO
SBM Offshore NV
35.22
12.57
55.50%
NL:CTPNV
CTP N.V.
14.36
-3.60
-20.04%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.