Brunel International N.V. (BRNL) AI Stock Analysis

• Market Cap: €341.72M
• Dividend Yield: 7.15%
• Average Volume (3M): 78.20K
• Price to Earnings (P/E): 114.2
• Beta (1Y): 1.13
• Revenue Growth: -7.16%
• EPS Growth: -50.45%
• Country: NL
• Employees: 10,206
• Sector: General
• Sector Strength: N/A
• Industry: Staffing & Employment Services
• EPS (TTM): 0.06
• Shares Outstanding: 50,574,623
• 10 Day Avg. Volume: 71,085
• 30 Day Avg. Volume: 78,199
• PEG Ratio: -1.43
• Price to Book (P/B): 1.45
• Price to Sales (P/S): 0.32
• P/FCF Ratio: 13.96
• 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: €9.80
• Price Target Upside: 24.37% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.59
• Revenue Forecast (FY): €1.29B

• Rating: 51 Neutral
• Price Target: €7.50 ▼(-4.82% Downside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

Overall score reflects weakening fundamentals (sharp earnings drop, lower cash generation, and rising leverage) and bearish technicals (below key moving averages with negative MACD and weak RSI/Stoch). The main offset is an elevated dividend yield, though the P/E remains relatively high given the profit downturn.

Positive Factors

Sector-focused staffing

Brunel’s focus on technical, energy and infrastructure staffing targets industries with multi-year project cycles and specialized skills demand. This niche positioning supports higher bill rates, longer client engagements and stickier relationships, underpinning durable revenue streams across cycles.

Positive free cash flow in 2025

Despite earnings pressure, Brunel generated positive operating and free cash flow in 2025, demonstrating underlying cash conversion ability. Persistent cash generation supports dividends, working capital and selective reinvestment and provides a buffer while the company stabilizes margins and revenues.

Equity-supported balance sheet

The balance sheet shows material equity relative to debt, giving moderate financial flexibility. This equity cushion can absorb near-term earnings volatility, support working-capital needs in a staffing model, and preserves the company’s ability to access financing or fund operations through cyclical troughs.

Negative Factors

Revenue and earnings decline

A material drop in revenue and a sharp collapse in net income indicate weakening demand or margin pressure in core markets. Sustained revenue contraction and compressed profitability reduce reinvestment capacity, strain dividend coverage and impair the firm’s ability to rebuild margins over the medium term.

Rising leverage

Debt growth alongside falling profits increases financial risk and reduces resilience to further industry or cyclical shocks. Higher leverage raises interest and refinancing vulnerability, constrains strategic flexibility and elevates the priority of deleveraging over growth investments if cash generation remains muted.

Cash-flow volatility

Large swings in free cash flow and working-capital conversion are common in staffing but materially increase operational risk. Volatility complicates budgeting, heightens refinancing and dividend risk, and makes sustained investment in business development or technology harder when cash is unpredictable.

Brunel International N.V. Business Overview & Revenue Model

Company Description

Brunel International N.V. provides secondment, project management, recruitment, and consultancy services worldwide. It offers logistics services, such as food, accommodation, and transport; global mobility; and new location startup; and recruitment services, including career industry training, contracting and secondment; maintenance training; offshore and permanent recruitment; staff secondment; talent acquisition and campus recruitment; and technical training for staff and consultants. The company provides technical services comprising health, safety, environment; commissioning; project management support; work statement; and third-party inspection services. It serves life sciences, renewable energy, oil and gas, infrastructure, future mobility, and mining industries. Brunel International N.V. was incorporated in 1975 and is headquartered in Amsterdam, the Netherlands.

How the Company Makes Money

Brunel generates revenue primarily through its staffing and recruitment services, which involve charging clients for placing candidates in various roles within their organizations. The company earns money by taking a fee from the client's budget for each successful placement, as well as through hourly billing for contract workers. Key revenue streams include long-term contracts with major companies in the oil and gas sector, project-based staffing solutions, and specialized recruitment services for engineering and technology projects. Additionally, Brunel's partnerships with industry leaders and its global network of professionals contribute to its earnings by enhancing its ability to deliver tailored staffing solutions efficiently.

Brunel International N.V. Financial Statement Overview

Summary

Financials weakened materially in the latest year: revenue fell (-5.1% in 2025) and profitability compressed sharply (net income dropped to ~€3.1M from ~€29.8M in 2024). Balance sheet remains supported by equity (~€269M) but leverage has increased (debt ~€137M vs ~€95.8M in 2024). Cash flow stayed positive (FCF ~€28.0M) but declined steeply versus 2024 and has shown volatility historically.

Income Statement

Revenue declined in 2025 (-5.1%) after modest growth in 2024, and profitability compressed sharply: net income fell to ~€3.1M from ~€29.8M in 2024 and ~€31.7M in 2023. The longer-term picture shows a strong rebound from 2020–2022 with generally positive margins, but the latest year suggests meaningful cyclical/operating pressure and reduced earnings quality versus prior years.

Balance Sheet

Balance sheet remains reasonably supported by equity (2025 equity ~€269M vs debt ~€137M), but leverage has risen meaningfully versus prior years (debt increased from ~€95.8M in 2024 and ~€64.3M in 2022). Total assets also stepped down in 2025, indicating less balance-sheet momentum. Overall, still moderate financial flexibility, but the direction of leverage is a clear watch item given the profit downturn.

Cash Flow

Cash generation remained positive in 2025 with operating cash flow of ~€30.2M and free cash flow of ~€28.0M, but both are far below 2024 (operating cash flow ~€95.8M; free cash flow ~€86.1M) and free cash flow declined ~59.6% year over year. History is also uneven (notably negative free cash flow in 2023), suggesting working-capital and conversion volatility—common in staffing—despite generally positive cash flow over the full period.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.22B	1.36B	1.33B	1.18B	899.67M
Gross Profit	190.63M	263.09M	273.48M	230.79M	210.58M
EBITDA	44.69M	74.05M	76.35M	70.00M	66.01M
Net Income	3.05M	29.84M	31.65M	29.39M	31.00M
Balance Sheet
Total Assets	538.32M	582.00M	611.28M	547.14M	501.80M
Cash, Cash Equivalents and Short-Term Investments	93.61M	112.00M	104.78M	87.63M	62.86M
Total Debt	137.46M	95.79M	117.80M	64.26M	42.14M
Total Liabilities	268.28M	264.61M	298.75M	229.32M	199.87M
Stockholders Equity	269.27M	315.14M	301.45M	304.68M	288.24M
Cash Flow
Free Cash Flow	28.05M	86.07M	-4.00M	11.27M	10.18M
Operating Cash Flow	30.18M	95.76M	7.73M	22.54M	16.72M
Investing Cash Flow	-10.43M	-10.31M	-11.31M	-21.45M	-35.17M
Financing Cash Flow	-43.92M	-66.16M	16.02M	-21.02M	-31.90M

Brunel International N.V. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.88
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:BRNL, the sentiment is Negative. The current price of 7.88 is above the 20-day moving average (MA) of 7.07, above the 50-day MA of 7.41, and below the 200-day MA of 8.18, indicating a bearish trend. The MACD of -0.18 indicates Negative momentum. The RSI at 40.97 is Neutral, neither overbought nor oversold. The STOCH value of 37.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:BRNL.

Brunel International N.V. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RAND	58 Neutral	€4.70B	16.75	1.49%	9.24%	-3.62%	-87.74%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BRNL	51 Neutral	€341.72M	114.17	5.36%	7.15%	-7.16%	-50.45%