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Koninklijke BAM Groep nv, (BAMNB) Fair Value & Analysis

Industrials · NL · Market cap €3.0B

KB Koninklijke BAM Groep nv, BAMNB · AS
Price€11.43
Fair Value€15.34
Upside+34.2%
Quality69/100
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Weak Growth
Thin margins · 3.0% net margin
Low debt · generates free cash flow
2.60% dividend yield
Ranks above peers (9/15)
Moderate moat 47/100
Evidence: High Range €11.81 – €18.87 Share as image

Fair value as of: Jul 15, 2026

From 24 valuation models · updated 25 days ago

Share price −3.1% over the past month.

A solid business, screening 34% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€11.81). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€12.70 €1.56 Fair Value €15.34 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range €1.56 – €12.70 · fair‑value band €11.81 – €18.87 · the €11.43 price screens below the €15.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Koninklijke BAM Groep nv, (BAMNB) currently trades at €11.43, while our model-based Fair Value estimate is €15.34, implying the stock looks roughly 34.2% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Koninklijke BAM Groep nv, generated revenue of €7.0B at a net margin of 3.0%. Revenue grew 7.3% year over year. It earns a return on equity of 22.8%. The balance sheet holds a net cash position of €311M. Fundamentals as of Jul 15, 2026

Our scenario range runs from €11.81 (bear case) to €18.87 (bull case); at €11.43, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 34%, BAMNB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €13.78 €17.34 €23.25 80
Residual Income €5.14 €6.83 €28.26 76
Rev-Margin DCF €11.43 €14.99 €19.41 74
All 24 models by family
DCF Models
FCF DCF €13.35 €17.04 €23.69 38
Owner Earnings €14.22 €18.23 €25.45 31
5Y Revenue Exit €11.43 €14.75 €19.57 39
5Y EBITDA Exit €14.51 €20.07 €27.45 41
5Y P/E Exit €13.91 €19.04 €25.17 38
10Y Revenue Exit €11.94 €14.46 €17.11 36
10Y EBITDA Exit €13.96 €17.68 €21.65 37
10Y P/E Exit €13.60 €17.05 €20.33 35
Earnings-Based
Graham-Dodd €5.58 €6.88 €7.76 54
EPV €9.45 €10.43 €11.28 59
Dividend Discount
Gordon GGM €2.25 €2.46 €2.76 70
DDM Multi-Stage €2.25 €2.79 €3.52 61
Multiples
P/E Multiple €12.92 €17.23 €21.53 63
P/S Multiple €10.46 €13.95 €17.43 58
P/B Multiple €10.46 €13.95 €17.43 55
EV/EBIT €13.81 €17.35 €20.88 53
EV/EBITDA €17.30 €22.00 €26.69 54
EV/Revenue €10.78 €14.02 €17.26 43
Asset-Based
NCAV (Graham) €1.86 €2.50 €3.72 50
Growth DCF
Growth DCF €13.78 €17.34 €23.25 80
Rev-Margin DCF €11.43 €14.99 €19.41 74
Economic Profit
Residual Income €5.14 €6.83 €28.26 76
ROIC Compounder €9.45 €10.50 €11.44 72
Growth Earnings
Growth-Adj P/E €9.12 €13.03 €16.94 68

Widest divergence: DCF Models (€17.05) versus Dividend Discount (€2.46). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €7.0B
Revenue growth (YoY) +7.3%
Net margin 3.0%
Return on equity 22.8%
Free cash flow €281M FY2025
P/E ratio 14.3
More key figures
Operating margin 3.5%
EPS (TTM) €0.8000
Dividend yield 2.6%
EPS growth (YoY) +90.0%
Net cash €311M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 67 · Market factors (momentum, volatility) 76

Profitability 53
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 99
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Koninklijke BAM Groep nv, together with its subsidiaries, provides products and services in the construction and property and civil engineering sectors in the Netherlands, the United Kingdom, Ireland, Germany, Belgium, and internationally.

Full company description

Koninklijke BAM Groep nv, together with its subsidiaries, provides products and services in the construction and property and civil engineering sectors in the Netherlands, the United Kingdom, Ireland, Germany, Belgium, and internationally. The company designs, builds, and maintains sustainable buildings, homes, and infrastructure for public and private clients. It is also involved in the development and construction of property; and operation of maintenance and service contracts. Koninklijke BAM Groep nv was founded in 1869 and is headquartered in Bunnik, the Netherlands.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Koninklijke BAM Groep nv, reported revenue of €7.0B in FY2025 versus €7.3B in FY2021, a compound −1.0%/yr. Reported net income was €211M in FY2025, compounding +84.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€7.0B
Latest YoY
+9.1%
Avg. growth/yr (3Y)
+2.1%
Avg. growth/yr (5Y)
+0.8%
Avg. growth/yr (23Y)
+3.0%
Revenue −1.0%/yr
FY21 €7.3B
FY22 €6.6B
FY23 €6.3B
FY24 €6.5B
FY25 €7.0B
Net income +84.7%/yr
FY21 €18.1M
FY22 €180M
FY23 €175M
FY24 €82.2M
FY25 €211M

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Cite: Fair Value Calculator (2026). "Koninklijke BAM Groep nv, Fair Value". https://www.fairvalue-calculator.com/stock/BAMNB

Peer Group

Engineering & Construction · 837 stocks

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.

Quality Score 69 · Top 25%
Fair Value upside +34% · Above median
Return on equity (TTM) 23% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 14.3× · Cheaper than median
P/B 3.59× · Pricier than 75% of peers
P/S (TTM) 0.49× · Cheaper than median
P/FCF 12.2× · Pricier than 75% of peers
EV/EBITDA 9.4× · Pricier than median
PEG 11.11× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 79 · sector 16
FUTURE 37 · sector 18
PAST 91 · sector 26
HEALTH 97 · sector 94
DIVIDEND 52 · sector 33

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Koninklijke BAM Groep nv, (BAMNB) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of €15.34 versus a price of €11.43, about +34% (undervalued).
What is the fair value of BAMNB?
Our model-based fair value for Koninklijke BAM Groep nv, is €15.34 (as of Jul 15, 2026), built from audited fundamentals. The current price is €11.43.
What is the quality score of BAMNB?
Koninklijke BAM Groep nv, 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 revenue of Koninklijke BAM Groep nv, (BAMNB)?
Koninklijke BAM Groep nv, reported trailing-twelve-month revenue of about €7.0B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of BAMNB?
The net profit margin of Koninklijke BAM Groep nv, is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Koninklijke BAM Groep nv, pay a dividend?
Koninklijke BAM Groep nv, currently shows a dividend yield of about 3.14% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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