Ackermans & Van Haaren NV (ACKB) fair value: what the stock is really worth
We calculate from audited financials what Ackermans & Van Haaren NV is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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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, dashed = 300-day average. As of Sep 19, 2026.
How to read this chart
60‑month range €118.59 – €293.01 · fair‑value band €117.47 – €361.02 · the €274.60 price screens above the €188.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 19, 2026.
Ackermans & Van Haaren NV engages in marine engineering and contracting, private banking, real estate, energy and resources, and growth capital businesses worldwide.
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Ackermans & Van Haaren NV engages in marine engineering and contracting, private banking, real estate, energy and resources, and growth capital businesses worldwide. The Marine Engineering & Contracting segment engages in the marine construction activities, including dredging and civil works on water, as well as offshore activities in the areas of renewable energy, oil and gas, soil and sludge remediation, and aggregate and mineral extraction; real estate development, multitechnics, and construction and renovation activities; and development of port projects and related industrial zones, as well as offshore wind farms. The Private Banking segment offers discretionary asset management services for private clients; and specialized advisory banking services for entrepreneurs and liberal professionals, as well as financing and financial leasing services for cars, equipment, charging stations, and bicycles. The Real Estate segment develops mixed real estate projects, including redevelopment of iconic buildings and new constructions and residential, retail, and office properties. The Energy & Resources segment produces crude palm oil and bananas; offers hybrid palm oil seeds; and manufactures cement. The AvH & Growth Capital segment provides engineering and solutions in production process automation; validation and compliance services; compact biogas installation; specialty chemicals; and logistics services for rail, port and road transport, and intermodal transport, and warehousing. It also offers crop and food protection products and deals and leases commercial vehicles, as well as distributes aftermarket products. The company also develops medical devices and medicines for the treatment of cancer and genetic diseases. Ackermans & Van Haaren NV was founded in 1876 and is based in Antwerp, Belgium.
Stock analysis
Ackermans & Van Haaren NV (ACKB) currently trades at €274.60, while our model-based Fair Value estimate is €188.90, implying the stock looks roughly 45.4% overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of €634.47 per share, and 6 of the 13 models we run sit above the €274.60 price.
Bear case: the Dividend Discount group reads lowest at €57.57, and 7 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: €117.47 (bear) to €361.02 (bull), the price of €274.60 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 43/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ackermans & Van Haaren NV reported revenue of €6.0B in FY2025 versus €4.3B in FY2021, a compound +8.4%/yr. Reported net income was €593M in FY2025, compounding +9.9%/yr from FY2021.
Key figures
Market cap €9.0B · P/E ratio 15.2 · P/S ratio 1.51 · EPS (TTM) €18.10 · Dividend yield 1.7% · Net margin 9.9% · Return on equity 11.0% · Return on assets (EBIT) 2.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −30% fair-value upside, at −31%, ACKB screens richer than that median.
Fair Value models
Bear €117.47Fair Value €188.90Bull €361.02
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€9.79 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.Evidence ⓘEvidence = 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.58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.4%
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.
+10.6%
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.
+8.8%
Revenue growth 25 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.
+37.1%
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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.
+10.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)1.7%
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.9% vs 10%, steady
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.5% → 13%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than 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).
+29.6%
Yearly growth needed for the next five years to justify today's price.
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.
+3.8%
Yearly sales growth analysts expect, extended to five years.
Compare Ackermans & Van Haaren NV with another stock
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 · 814 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside−16% · Below median
Profitability
Return on equity (TTM)11% · Above median
Return on assets2% · Above median
Net margin (TTM)10% · Top 25%
Operating margin (TTM)15% · Top 25%
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)1.7% · Below median
Balance sheet
Debt / equity0.49× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)15.2× · Cheaper than median
P/B1.78× · Pricier than median
P/S (TTM)1.71× · Priciest 25%
P/FCF37.2× · Priciest 25%
EV/EBITDA9.6× · Pricier than median
PEG5.74× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)0· sector 14
PAST (return on equity)44· sector 26
HEALTH (low debt)75· sector 94
DIVIDEND (yield)34· sector 39
VALUE 0: the price sits above our fair-value range.
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). "Ackermans & Van Haaren NV Fair Value". https://www.fairvalue-calculator.com/stock/ACKB
Frequently asked questions
Is Ackermans & Van Haaren NV (ACKB) overvalued or undervalued?
As of Sep 19, 2026, our model estimates a fair value of €188.90 versus a price of €274.60, about −31% upside (overvalued).
What is the fair value of ACKB?
Our model-based fair value for Ackermans & Van Haaren NV is €188.90 (as of Sep 19, 2026), built from audited fundamentals. The current price: €274.60.
What is the quality score of ACKB?
Ackermans & Van Haaren NV has a Quality Score of 43/100. 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 Ackermans & Van Haaren NV (ACKB)?
Our model-based price target is the fair value of €188.90 (as of Sep 19, 2026) from 13 valuation models. Cautious scenario €117.47, optimistic scenario €361.02. It is a calculation from audited fundamentals, not an analyst target.
What is the Ackermans & Van Haaren NV stock forecast for 2026?
Our models put fair value at €188.90, about −31% upside versus a price of €274.60 (overvalued). Cautious scenario €117.47, optimistic scenario €361.02. The calculation is refreshed regularly with new filings.
What is the revenue of Ackermans & Van Haaren NV (ACKB)?
Ackermans & Van Haaren NV reported trailing-twelve-month revenue of about €6.0B (latest available figure, as of Sep 19, 2026).
Does Ackermans & Van Haaren NV pay a dividend?
Ackermans & Van Haaren NV currently shows a dividend yield of about 1.68% relative to its recent price (as of Sep 19, 2026).
What growth is priced into Ackermans & Van Haaren NV (ACKB)?
For today's price to be fair in a discounted-cash-flow model, Ackermans & Van Haaren NV would have to grow free cash flow by +29.6 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.8 % per year. As of Sep 19, 2026.
What discount rate (WACC) does the fair value of ACKB use?
Our models discount Ackermans & Van Haaren NV at 9.2 %: a base by market capitalisation (large), damped by beta 0.76, country premium for Belgium. 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 Ackermans & Van Haaren NV that is +29.6 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Ackermans & Van Haaren NV (ACKB) delivered so far?
Over the past 5 years revenue at Ackermans & Van Haaren NV grew +8.8 % a year. The price currently implies +29.6 % per year free-cash-flow growth a 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 Ackermans & Van Haaren NV (ACKB) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Ackermans & Van Haaren NV (+29.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ackermans & Van Haaren NV (ACKB)?
The free-cash-flow yield on the price is 3.04 %: that much free cash flow Ackermans & Van Haaren NV produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ackermans & Van Haaren NV (ACKB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ackermans & Van Haaren NV it is €188.90 per share (as of Sep 19, 2026), against a price of €274.60. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Ackermans & Van Haaren NV stock overvalued or undervalued in 2026?
As of Sep 19, 2026, ACKB trades above its calculated fair value: price €274.60, fair value €188.90, a gap of about −31% (overvalued). 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 ACKB?
No. The price is what the market pays today (€274.60); the fair value is what the company's own numbers justify (€188.90). For Ackermans & Van Haaren NV the two are €85.70 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ackermans & Van Haaren NV worth?
The market values Ackermans & Van Haaren NV at about €9.0B (market capitalisation, as of Sep 19, 2026). Per share that is €274.60; our models calculate a fair value of €188.90 per share.
What do the bullish and bearish scenarios say about ACKB?
Our models span a range for Ackermans & Van Haaren NV: cautious scenario €117.47, base €188.90, optimistic €361.02 per share (as of Sep 19, 2026, price €274.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ACKB?
Ackermans & Van Haaren NV trades at a price-to-earnings ratio of 15.2 (as of Sep 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €188.90 is built from several models across several years. Other multiples: PEG 5.7, P/B 1.8, P/S 1.7, EV/EBITDA 9.6.
What is the PEG ratio of ACKB?
The PEG ratio of Ackermans & Van Haaren NV is 5.74 (P/E divided by earnings growth, as of Sep 19, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ackermans & Van Haaren NV (ACKB)?
Balance-sheet figures for Ackermans & Van Haaren NV (as of Sep 19, 2026): return on equity 11.0%, debt of 0.49 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is ACKB from its 52-week high?
Ackermans & Van Haaren NV trades at €274.60, about 7% below its 52-week high of €295.17 and 34% above the low of €204.71 (as of Sep 19, 2026). Distance from the high says nothing about value: that is what the fair value of €188.90 is for.
Which stocks are comparable to Ackermans & Van Haaren NV?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Ackermans & Van Haaren NV stock attractive at the current price?
The data as of Sep 19, 2026: price €274.60, calculated fair value €188.90 (−31%), Quality Score 43/100, from 13 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 ACKB calculated?
We run Ackermans & Van Haaren NV through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €188.90, 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 16.1 % above its aggregate fair value. Ackermans & Van Haaren NV itself currently trades above fair value. 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 Ackermans & Van Haaren NV (ACKB)?
The closing price on Sep 21, 2026 was €274.60. Our model-based fair value is €188.90, about −31% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ackermans & Van Haaren NV right now?
Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€117.47 to €361.02). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Ackermans & Van Haaren NV (ACKB) come from?
Earnings per share at Ackermans & Van Haaren NV grew +8.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.4 %, EBIT margin +0.2 %, tax rate +0.5 %, residual (interest, one-offs) +2.9 %. 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 Ackermans & Van Haaren NV
How large is the market capitalisation of Ackermans & Van Haaren NV (ACKB)?
The market capitalisation of Ackermans & Van Haaren NV is €9.0B. 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 Ackermans & Van Haaren NV (ACKB)?
The price-to-sales ratio of Ackermans & Van Haaren NV is 1.51 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ackermans & Van Haaren NV (ACKB)?
Earnings per share at Ackermans & Van Haaren NV are €18.10 (price ÷ EPS = P/E 15.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ackermans & Van Haaren NV (ACKB)?
The dividend yield of Ackermans & Van Haaren NV is 1.7% (payout 25.4%). 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 Ackermans & Van Haaren NV (ACKB)?
The net margin of Ackermans & Van Haaren NV is 9.9% (fiscal year 2025). 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 Ackermans & Van Haaren NV (ACKB)?
The return on equity (ROE) of Ackermans & Van Haaren NV is 11.0% (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 Ackermans & Van Haaren NV (ACKB)?
On an EBIT basis the return on assets of Ackermans & Van Haaren NV is 2.5% (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 Ackermans & Van Haaren NV (ACKB)?
The operating margin of Ackermans & Van Haaren NV is 15.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ackermans & Van Haaren NV (ACKB)?
Revenue at Ackermans & Van Haaren NV is growing −7.3% versus a year earlier (3y avg +10.6%). 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 Ackermans & Van Haaren NV (ACKB)?
Earnings per share at Ackermans & Van Haaren NV are growing +23.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ackermans & Van Haaren NV (ACKB) carry?
The net debt of Ackermans & Van Haaren NV is €9.2B (fiscal year 2025, ≈ 33.5 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
Sep 19, 2026