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Dutch operator of independent tank storage terminals for oil, chemicals and gases at ports worldwide.
Dutch operator of independent tank storage terminals for oil, chemicals and gases at ports worldwide.
Rents out tank space under contracts, charging for the capacity reserved rather than the product held, so occupancy and contract length matter more than oil or chemical prices. Terminals sit in large ports such as Rotterdam and Singapore, and investment has been shifting toward gas, industrial terminals and cleaner fuels.
In one line: A Dutch peer of US tank-storage firms like Kinder Morgan terminals.
Moat: narrow (installed base, regulatory licence, scale). Prime port-side terminal locations are scarce and permit-constrained, supporting long-term contracts.
Headquarters: Rotterdam, Netherlands · Founded: 1616 · Employees: 5,007
Size Royal Vopak (VPK.AS) is a Netherlands Industrials company (Wholesale Distributors) with a market value of $6.51B, the 29th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €53.00 on 6 Nov 2026.
Performance Over six months the shares gained 13.6%, against +0.1% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 0.8% over the last twelve months (peer median +5.4%); the operating margin is 28.6% (peer median 9.5%).
Valuation It trades at 15.5× forward earnings against a peer median of 19.0× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +7 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.6 points below its cost of capital (6.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.32B | €1.30B | €1.32B | €1.43B | €1.37B |
| Revenue growth | — | -1% | -8% | +4% | — |
| Gross profit | €342M | €569M | €604M | €652M | €597M |
| EBITDA | €703M | €697M | €713M | €745M | €701M |
| Net income | €472M | €604M | €376M | €456M | -€168M |
| Free cash flow | €406M | €439M | €497M | €346M | €351M |
| Capital expenditure | €368M | €363M | €336M | €415M | €387M |
| Total debt | n/a | €2.80B | €2.77B | €2.48B | €3.08B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Royal Vopak VPK.AS | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% |
| Kinder Morgan KMI | $66.7B | -5% | +12% | 29% | 19.6× | 7.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VPK.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | +3.7% | 11th highest of 21 |
| 6-month return | +13.6% | +0.1% | 5th highest of 21 |
| Distance from 52-week high | -6.2% | -16.0% | 6th highest of 21 |
| Revenue growth (TTM) | +0.8% | +5.4% | 5th lowest of 21 |
| Operating margin | 28.6% | 9.5% | 2nd highest of 21 |
| Forward P/E | 15.5× | 19.0× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.8% | 9.0% | 10th least demanding of 20 |
| Growth delivered (Del g) | +1.8% | +11.1% | lowest of 19 |
| Hurdle (Req g minus delivered) | +7.0 pp | -1.8 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | -1.6 pp | +2.5 pp | 4th lowest of 21 |
| EV / EBITDA | 12.5× | 13.3× | 6th cheapest of 17 |
| Net debt / EBITDA | 4.0× | 2.1× | 3rd most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| Hdhms 443060.KS | South Korea | $5.28B | -39% | +20% | 16% | 23.0× | 3.0% | +14.5% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| SiteOne Landscape Supply SITE | United States | $4.86B | -7% | +3% | 5% | 24.4× | 18.4% | +11.7% |
| RS Group PLC RS1.L | United Kingdom | $4.85B | +33% | -1% | 8% | 18.6× | 15.1% | +7.5% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Groupe Dynamite GRGD.TO | Canada | $4.79B | -33% | +37% | 32% | 17.6× | 22.8% | n/a |
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Rubis SCA RUI.PA | France | $4.10B | 0% | +11% | 7% | 10.3× | 3.1% | +10.9% |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Gibson Energy GEI.TO | Canada | $3.87B | +13% | +26% | 3% | 19.5× | 6.4% | +16.7% |
| Wuchan Zhongda 600704.SS | China | $3.86B | 0% | +3% | 1% | 7.2× | -2.5% | +8.1% |