Arcadis N.V. (ARCAD) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Arcadis N.V. stock €51.26, price €46.20, upside +11.0%, quality 69 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range €25.37 – €63.45 · fair‑value band €35.68 – €64.08 · the €46.20 price screens below the €51.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Arcadis NV engages in the design, engineering, architecture, and consultancy solutions for natural and built assets in The Americas, Europe, the Middle East, and the Asia Pacific. The company operates through Places, Mobility, Resilience, and Intelligence segments.
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It provides architecture and urbanism services; and asset management services, such as asset management strategy and planning, asset management decision making and operational optimization, life cycle planning and asset management systems, asset information/condition assessment, risk and review, organization and people, and asset management/O&M. The company also provides business advisory services, including asset strategy and performance, business transformation and resiliency, investment and finance, operations and maintenance, and technology and information; contract solutions; cost and commercial management services; and design and engineering solutions for highways, railways, bridges, tunnels, power utilities, water utilities, ports and waterways, geotechnics, architecture, and structures, as well as building mechanical, electrical, and plumbing.
In addition, it offers digital environmental health safety and sustainability, environmental restoration, and project management solutions.
Further, the company provides mobility solutions for connected highways, intelligent rail and transit, integrated airports, and new mobility; places solutions; resilience solutions, such as energy transition, climate adaption, water optimization, enviro socio permitting, sustainable advisory, environmental restoration, and sustainable operations; and water supply and treatment, distribution, resource management, and industrial water and wastewater services.
The company was formerly known as Heidemij NV and changed its name to Arcadis N.V. in October 1997. The company was founded in 1888 and is headquartered in Amsterdam, the Netherlands.
Stock analysis
Arcadis N.V. (ARCAD) currently trades at €46.20, while our model-based Fair Value estimate is €51.26, so the stock looks roughly fairly valued today (gap 9.9%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of €72.49 per share, and 14 of the 24 models we run sit above the €46.20 price.
Bear case: the Dividend Discount group reads lowest at €18.07, and 10 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €35.68 (bear) to €64.08 (bull), the price of €46.20 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Arcadis N.V. reported revenue of €4.9B in FY2025 versus €3.4B in FY2021, a compound +9.6%/yr. Reported net income was €208M in FY2025, compounding +5.5%/yr from FY2021.
Key figures
Market cap €3.9B Mid · P/E ratio 19.8 · P/S ratio 0.81 · EPS (TTM) €2.33 · Dividend yield 2.3% · Net margin 4.2% · Return on equity 19.2% · Return on assets (EBIT) 8.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 82% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 11%, ARCAD screens cheaper than that median.
Fair Value models
Bear€35.68Fair Value €51.26Bull€64.08
Price €46.20 · Upside +11.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€1.10 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.1%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +64.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +62.0%
Dividend (yield on the price)2.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 62.0% / 7.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 7%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.21 per share, median 0.76 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −3.3% a year for the price and −4.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (85 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Core strength lies in sharpened engineering focus for high-demand sectors and AI-driven delivery, while the main weakness is limited evidence supporting a durable competitive moat.
Main risk: Divestment of architecture business and China operations risks reducing diversification and thereby hitting revenue stability in the engineering services business.
Arcadis is resetting its portfolio by sharpening focus on core engineering strengths in high-demand sectors while divesting parts of its architecture business and China operations. The move pairs with overhead rightsizing and heavier investment in AI-enabled delivery to lift margins and growth. Our models currently see it as undervalued. Will the performance discipline and targeted expansion deliver more durable client value than the breadth it is giving up?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+11.0% · Above median
Profitability
Return on equity (12 months)19.2% · Top 25%
Return on assets5.7% · Top 25%
Net margin (12 months)4.2% · Above median
Operating margin (12 months)6.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)1.1% · Below median
Dividend yield (12 months)2.3% · Above median
Balance sheet
Debt / equity0.59× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)19.8× · Pricier than median
P/B3.81× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.81× · Cheaper than median
Price / free cash flow (fiscal year)10.7× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Arcadis N.V. Fair Value". https://www.fairvalue-calculator.com/stock/ARCAD
Frequently asked questions
Is Arcadis N.V. (ARCAD) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of €51.26 versus a price of €46.20, about +11% upside (fairly valued).
What is the fair value of ARCAD?
Our model-based fair value for Arcadis N.V. is €51.26 (as of Nov 3, 2026), built from audited fundamentals. The current price: €46.20.
What is the quality score of ARCAD?
Arcadis N.V. has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Arcadis N.V. (ARCAD)?
Our model-based price target is the fair value of €51.26 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario €35.68, optimistic scenario €64.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Arcadis N.V. stock forecast for 2026?
Our models put fair value at €51.26, about +11% upside versus a price of €46.20 (fairly valued). Cautious scenario €35.68, optimistic scenario €64.08. The calculation is refreshed regularly with new filings.
What is the revenue of Arcadis N.V. (ARCAD)?
Arcadis N.V. reported trailing-twelve-month revenue of about €4.9B (latest available figure, as of Nov 3, 2026).
Does Arcadis N.V. pay a dividend?
Arcadis N.V. currently shows a dividend yield of 2.27% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Arcadis N.V. (ARCAD) and when is the ex-dividend date?
Arcadis N.V. pays a dividend of €1.05 per share a year, a dividend yield of 2.3%. The last ex-dividend date was May 22, 2026. A dividend has been paid every year since at least 1996. The payout ratio is 45.1% of earnings. Free cash flow covers the dividend 4.12 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Arcadis N.V. (ARCAD)?
For today's price to be fair in a discounted-cash-flow model, Arcadis N.V. would have to grow free cash flow by -1.2 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.1 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of ARCAD use?
Our models discount Arcadis N.V. at 9.0 %: a base by market capitalisation (mid), damped by beta 0.78, country premium for Netherlands. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Arcadis N.V. that is -1.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Arcadis N.V. (ARCAD) delivered so far?
Over the past 5 years revenue at Arcadis N.V. grew +8.1 % a year. The price currently implies free-cash-flow growth of -1.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Arcadis N.V. (ARCAD) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Arcadis N.V. (-1.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Arcadis N.V. (ARCAD)?
The free-cash-flow yield on the price is 9.36 %: that much free cash flow Arcadis N.V. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Arcadis N.V. (ARCAD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arcadis N.V. it is €51.26 per share (as of Nov 3, 2026), against a price of €46.20. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Arcadis N.V. stock overvalued or undervalued in 2026?
As of Nov 3, 2026, ARCAD trades below its calculated fair value: price €46.20, fair value €51.26, a gap of about +11% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ARCAD?
No. The price is what the market pays today (€46.20); the fair value is what the company's own numbers justify (€51.26). For Arcadis N.V. the two are €5.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arcadis N.V. worth?
The market values Arcadis N.V. at about €3.9B (market capitalisation, as of Nov 3, 2026). Per share that is €46.20; our models calculate a fair value of €51.26 per share.
What do the bullish and bearish scenarios say about ARCAD?
Our models span a range for Arcadis N.V.: cautious scenario €35.68, base €51.26, optimistic €64.08 per share (as of Nov 3, 2026, price €46.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ARCAD?
Arcadis N.V. trades at a price-to-earnings ratio of 19.8 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €51.26 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 25.0. Other multiples: PEG 2.9, P/B 3.8, P/S 0.8, EV/EBITDA 12.4.
What is the PEG ratio of ARCAD?
The PEG ratio of Arcadis N.V. is 2.94 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Arcadis N.V. (ARCAD)?
Balance-sheet figures for Arcadis N.V. (as of Nov 3, 2026): return on equity 19.2%, debt of 0.59 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is ARCAD from its 52-week high?
Arcadis N.V. trades at €46.20, about 3% below its 52-week high of €47.52 and 82% above the low of €25.37 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €51.26 is for.
Which stocks are comparable to Arcadis N.V.?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Arcadis N.V. stock attractive at the current price?
The data as of Nov 3, 2026: price €46.20, calculated fair value €51.26 (+11%), Quality Score 69/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ARCAD calculated?
We run Arcadis N.V. through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €51.26 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Arcadis N.V. currently trades 10% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Arcadis N.V. (ARCAD)?
The closing price on Nov 6, 2026 was €46.20. Our model-based fair value is €51.26, about +11% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arcadis N.V. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Arcadis N.V. (ARCAD) come from?
Earnings per share at Arcadis N.V. grew +9.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.7 %, EBIT margin +4.4 %, tax rate −0.4 %, residual (interest, one-offs) +0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Arcadis N.V.
How large is the market capitalisation of Arcadis N.V. (ARCAD)?
The market capitalisation of Arcadis N.V. is €3.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Arcadis N.V. (ARCAD)?
The price-to-sales ratio of Arcadis N.V. is 0.81 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Arcadis N.V. (ARCAD)?
Earnings per share at Arcadis N.V. are €2.33 (price ÷ EPS = P/E 19.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arcadis N.V. (ARCAD)?
The dividend yield of Arcadis N.V. is 2.3% (payout 45.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Arcadis N.V. (ARCAD)?
The net margin of Arcadis N.V. is 4.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Arcadis N.V. (ARCAD)?
The return on equity (ROE) of Arcadis N.V. is 19.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Arcadis N.V. (ARCAD)?
On an EBIT basis the return on assets of Arcadis N.V. is 8.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Arcadis N.V. (ARCAD)?
The operating margin of Arcadis N.V. is 6.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arcadis N.V. (ARCAD)?
Revenue at Arcadis N.V. is growing +1.1% versus a year earlier (3y avg +6.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Arcadis N.V. (ARCAD)?
Earnings per share at Arcadis N.V. are growing +0.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Arcadis N.V. (ARCAD) carry?
The net debt of Arcadis N.V. is €1.0B (fiscal year 2025, ≈ 2.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026