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Royal Vopak NV (VOPKY)
OTHER OTC:VOPKY
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Royal Vopak
(OTC:VOPKY)
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Rating:69Neutral
Price Target:
$49.00
▲(13.58% Upside)
Royal Vopak's overall stock score reflects its solid financial performance and attractive valuation, which are offset by bearish technical indicators. The company's strategic investments and strong earnings call sentiment support a positive outlook, despite some operational challenges.
Royal Vopak (VOPKY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.92B
Dividend Yield4.05%
Average Volume (3M)0.00
Price to Earnings (P/E)10.0
Beta (1Y)0.14
Revenue Growth-2.78%
EPS Growth16.33%
CountryUS
Employees4,928
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)N/A
Shares Outstanding115,264,200
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio-1.02
Price to Book (P/B)1.70
Price to Sales (P/S)4.00
P/FCF Ratio9.19
Enterprise Value/Market Cap1.86
Enterprise Value/Revenue6.96
Enterprise Value/Gross Profit7.20
Enterprise Value/Ebitda9.96
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Royal Vopak Business Overview & Revenue Model
Company DescriptionRoyal Vopak is a leading global independent tank storage company that specializes in the storage and handling of bulk liquids, gases, and chemicals. With a network of terminals strategically located in key ports around the world, Vopak serves a diverse range of industries, including oil and gas, chemicals, and food. The company's core services include the storage, blending, and handling of various products, ensuring safe and efficient supply chain solutions for its clients.
How the Company Makes MoneyRoyal Vopak generates revenue primarily through its storage services, which involve leasing tank capacity to customers. The company charges fees based on the volume of products stored and the duration of storage. Additional revenue streams come from ancillary services such as loading and unloading operations, blending, and logistics support. Vopak also benefits from long-term contracts with major clients in the oil, chemical, and gas sectors, providing a stable income base. Strategic partnerships with major oil and chemical companies further enhance its earning potential, while its presence in high-demand markets allows for competitive pricing and increased profitability.
Royal Vopak Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 25, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong financial performance with significant growth in industrial segments and strategic investments in energy transition and key markets. Despite some challenges such as negative currency impacts and temporary technical issues at EemsEnergyTerminal, the company remains on track to meet its long-term goals.Q3-2025 Updates
Positive Updates
Strong Financial Performance
Proportional EBITDA increased to EUR 902 million, a 16.2% operating cash return. Proportional operating free cash flow per share increased by 4.3% year-on-year to EUR 5.56.
Growth in Industrial Segment
The industrial segment saw a 15% increase year-on-year, contributing to overall strong performance.
Expansion in Key Markets
Investments in additional throughput capacity at the REEF terminal in West Canada and expansion of LNG infrastructure in Colombia at the SPEC terminal.
Energy Transition Infrastructure
Joint venture in Oman to develop energy storage and terminal infrastructure. Committed EUR 256 million to energy transition infrastructure.
Investment in Indian Market
Development of a greenfield LPG import terminal in Mumbai and acquisition of 75% of Hindustan LPG terminal in Haldia.
Negative Updates
Negative Currency Impact
EUR 30 million negative currency translation impact compared to last year.
Temporary Challenges at EemsEnergyTerminal
Temporary technical challenges caused a decrease in the gas segment results, with a solution expected by early next year.
Weak Chemical Markets
Chemical markets remained weak, although terminals performed relatively stable despite lower occupancy rates.
Lower Proportional Occupancy Rate
Proportional occupancy decreased to 90.3% in Q3, mainly due to timing of contract renewals.
Company Guidance
During the Royal Vopak Q3 2025 update call, the company provided several key metrics and guidance for the upcoming periods. The company emphasized its continuous focus on enhancing the performance of its existing portfolio, setting an operating cash return target of above 13% throughout the cycle. The year-to-date proportional occupancy rate stood at 91%, and the company reported a proportional EBITDA of EUR 902 million with an operating cash return of 16.2%. Vopak confirmed its full-year proportional EBITDA outlook in the range of EUR 1.17 billion to EUR 1.2 billion, despite facing a negative currency translation impact of EUR 30 million. The company has committed EUR 1.6 billion towards expanding its gas and industrial footprint and EUR 256 million in energy transition infrastructure. In terms of capital allocation, Vopak plans to invest EUR 4 billion by 2030, with EUR 700 million expected to be spent in 2025 alone. Additionally, the company achieved a proportional operating free cash flow per share increase of 4.3% year-on-year, reaching EUR 5.56.Royal Vopak Financial Statement Overview
Summary
Royal Vopak exhibits solid financial health with strong profitability and efficient cash conversion. Despite fluctuating revenue growth, the company maintains strong margins and improving equity returns, supported by balanced leverage and rising free cash flow.Income Statement
Royal Vopak shows strong profitability with a consistent gross profit margin above 70% and a net profit margin improving to 28.5% in 2024 from a negative figure in 2022. Revenue growth has been fluctuating, with a decline noted in 2024. However, the company has maintained a positive EBIT and EBITDA margin, indicating robust operational efficiency.75
Positive
Balance Sheet
The balance sheet reflects moderate leverage with a debt-to-equity ratio of approximately 0.89 in 2024, suggesting manageable debt levels. The equity ratio is stable, around 45.5%, showing a balanced capital structure. ROE improved significantly to 12.1% in 2024, showcasing better utilization of equity.68
Positive
Cash Flow
The cash flow statement highlights a positive trend in free cash flow, growing by 26.8% in 2024. The operating cash flow to net income ratio is strong, indicating that the company is converting its income into cash efficiently. However, the free cash flow to net income ratio suggests room for improvement in cash generation relative to profits.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.31B | 1.32B | 1.44B | 1.38B | 1.24B | 1.20B |
| Gross Profit | 1.27B | 1.01B | 1.38B | 1.03B | 896.10M | 890.50M |
| EBITDA | 917.80M | 925.20M | 1.02B | 423.30M | 587.10M | 559.30M |
| Net Income | 481.80M | 375.70M | 455.70M | -168.40M | 214.20M | 294.60M |
Balance Sheet | ||||||
| Total Assets | 6.68B | 6.80B | 6.65B | 7.00B | 7.09B | 6.52B |
| Cash, Cash Equivalents and Short-Term Investments | 99.60M | 94.20M | 197.00M | 33.80M | 73.40M | 68.30M |
| Total Debt | 2.84B | 2.77B | 2.48B | 3.08B | 3.00B | 2.66B |
| Total Liabilities | 3.58B | 3.56B | 3.28B | 3.85B | 3.74B | 3.39B |
| Stockholders Equity | 2.97B | 3.10B | 3.22B | 2.98B | 3.19B | 2.96B |
Cash Flow | ||||||
| Free Cash Flow | 521.50M | 573.40M | 452.20M | 439.10M | 163.50M | 123.20M |
| Operating Cash Flow | 864.90M | 909.10M | 866.20M | 825.20M | 682.00M | 774.00M |
| Investing Cash Flow | -527.60M | -495.30M | 109.60M | -489.40M | -588.40M | -572.70M |
| Financing Cash Flow | -330.90M | -528.80M | -801.90M | -353.50M | -84.80M | -218.70M |
Royal Vopak Technical Analysis
Negative
43.14
Price Trends
46.03
Negative
47.18
Negative
45.04
Negative
Market Momentum
-0.55
Positive
28.87
Positive
>-0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VOPKY, the sentiment is Negative. The current price of 43.14 is below the 20-day moving average (MA) of 45.53, below the 50-day MA of 46.03, and below the 200-day MA of 45.04, indicating a bearish trend. The MACD of -0.55 indicates Positive momentum. The RSI at 28.87 is Positive, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VOPKY.
Royal Vopak Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.45B | 15.53 | ― | 9.96% | -1.78% | 9.32% | |
72 Outperform | $11.55B | 13.35 | 9.78% | 9.14% | -7.50% | 9.49% | |
72 Outperform | $7.04B | 11.91 | ― | 8.56% | 10.78% | 19.10% | |
69 Neutral | $4.92B | 9.98 | 15.45% | 4.05% | -2.78% | 16.33% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | $4.02B | 67.32 | 2.99% | 2.52% | 19.15% | 329.74% | |
46 Neutral | $397.85M | -0.94 | -25.85% | ― | 2.91% | -432.03% |
* Energy Sector Average
VOPKY
Royal Vopak
43.14
-1.43
-3.21%
GLNG
Golar LNG
38.42
1.32
3.56%
PAA
Plains All American
16.63
0.71
4.46%
SMC
Summit Midstream
21.20
-14.80
-41.11%
DKL
Delek Logistics
44.66
10.35
30.17%
HESM
Hess Midstream Partners
33.91
1.32
4.05%
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.