Flow Traders BV (FLOW) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Flow Traders BV stock €33.44, price €23.42, upside +42.8%, quality 55 out of 100. Rating: undervalued. Calculated from audited financials with 4 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 8, 2026.
How to read this chart
60‑month range €15.03 – €32.52 · fair‑value band €25.08 – €41.79 · the €23.42 price screens below the €33.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Flow Traders Ltd. operates as a financial technology-enabled multi-asset class liquidity provider in Europe, the Americas, and Asia. The company provides exchange traded products, including equities, fixed income, digital assets, commodities, and foreign exchange.
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It also offers institutional grade liquidity services; and multi-faceted partner for the digital asset ecosystem. Flow Traders Ltd. was founded in 2004 and is headquartered in Amsterdam, the Netherlands.
Stock analysis
Flow Traders BV (FLOW) currently trades at €23.42, while our model-based Fair Value estimate is €33.44, implying the stock looks roughly 30% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €33.44 per share, and 3 of the 4 models we run sit above the €23.42 price.
Bear case: the Asset-Based group reads lowest at €13.14, and 1 of the 4 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €25.08 (bear) to €41.79 (bull), the price of €23.42 sits below 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 55/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Flow Traders BV reported revenue of €486M in FY2025 versus €540M in FY2021, a compound −2.6%/yr. Reported net income was €134M in FY2025, compounding +3.8%/yr from FY2021.
Key figures
Market cap €1.1B Small · P/E ratio 7.8 · P/S ratio 1.29 · EPS (TTM) €3.00 · Net margin 16.0% · Return on equity 15.3% · Return on assets (EBIT) 1.2% (5-year average) · Operating margin 14.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at 43%, FLOW screens cheaper than that median.
Fair Value models
Bear€25.08Fair Value €33.44Bull€41.79
Price €23.42 · Upside +42.8%
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 (€2.56 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
+14.2%
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.
+18.1%
Revenue growth 12 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.
+16.9%
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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.
+3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.4%
Dividend (yield on the price)0.0%
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.3.4% vs 4.2%, 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.53% → 37%
News mood ⓘNews mood, the average tone of recent news (58 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
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.Capital Markets · 384 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Below median
Fair Value upside+42.8% · Above median
Profitability
Return on equity (12 months)15.3% · Above median
Return on assets0.8% · Bottom 25%
Net margin (12 months)16.0% · Below median
Operating margin (12 months)14.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.5% · Below median
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
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.
Is Flow Traders BV (FLOW) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of €33.44 versus a price of €23.42, about +43% upside (undervalued).
What is the fair value of FLOW?
Our model-based fair value for Flow Traders BV is €33.44 (as of Nov 8, 2026), built from audited fundamentals. The current price: €23.42.
What is the quality score of FLOW?
Flow Traders BV has a Quality Score of 55/100. 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 Flow Traders BV (FLOW)?
Our model-based price target is the fair value of €33.44 (as of Nov 8, 2026) from 4 valuation models. Cautious scenario €25.08, optimistic scenario €41.79. It is a calculation from audited fundamentals, not an analyst target.
What is the Flow Traders BV stock forecast for 2026?
Our models put fair value at €33.44, about +43% upside versus a price of €23.42 (undervalued). Cautious scenario €25.08, optimistic scenario €41.79. The calculation is refreshed regularly with new filings.
What is the revenue of Flow Traders BV (FLOW)?
Flow Traders BV reported trailing-twelve-month revenue of about €830M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Flow Traders BV (FLOW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flow Traders BV it is €33.44 per share (as of Nov 8, 2026), against a price of €23.42. It is the blended result of 4 valuation models in 3 families (Multiples, Asset-Based, Economic Profit).
Is Flow Traders BV stock overvalued or undervalued in 2026?
As of Nov 8, 2026, FLOW trades below its calculated fair value: price €23.42, fair value €33.44, a gap of about +43% (undervalued). 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 FLOW?
No. The price is what the market pays today (€23.42); the fair value is what the company's own numbers justify (€33.44). For Flow Traders BV the two are €10.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flow Traders BV worth?
The market values Flow Traders BV at about €1.1B (market capitalisation, as of Nov 8, 2026). Per share that is €23.42; our models calculate a fair value of €33.44 per share.
What do the bullish and bearish scenarios say about FLOW?
Our models span a range for Flow Traders BV: cautious scenario €25.08, base €33.44, optimistic €41.79 per share (as of Nov 8, 2026, price €23.42). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLOW?
Flow Traders BV trades at a price-to-earnings ratio of 7.8 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €33.44 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 10.6. Other multiples: P/B 1.2, P/S 1.3, EV/EBITDA 3.2.
How solid is the balance sheet of Flow Traders BV (FLOW)?
Balance-sheet figures for Flow Traders BV (as of Nov 8, 2026): return on equity 15.3%, debt of 0.06 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is FLOW from its 52-week high?
Flow Traders BV trades at €23.42, about 23% below its 52-week high of €30.34 and 4% above the low of €22.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €33.44 is for.
Which stocks are comparable to Flow Traders BV?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Flow Traders BV stock attractive at the current price?
The data as of Nov 8, 2026: price €23.42, calculated fair value €33.44 (+43%), Quality Score 55/100, from 4 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 FLOW calculated?
We run Flow Traders BV through 4 models from 3 families: Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of €33.44 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 13.0% above its aggregate fair value. Flow Traders BV currently trades 30% 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 Flow Traders BV (FLOW)?
The closing price on Nov 6, 2026 was €23.42. Our model-based fair value is €33.44, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flow Traders BV right now?
The price is below even our cautious bear case (€25.08). The market is more pessimistic than our downside scenario. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Flow Traders BV (FLOW) come from?
Earnings per share at Flow Traders BV grew +3.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.6 %, EBIT margin −3.3 %, tax rate −0.4 %, residual (interest, one-offs) −0.4 %. 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 Flow Traders BV
How large is the market capitalisation of Flow Traders BV (FLOW)?
The market capitalisation of Flow Traders BV is €1.1B. 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 Flow Traders BV (FLOW)?
The price-to-sales ratio of Flow Traders BV is 1.29 (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 Flow Traders BV (FLOW)?
Earnings per share at Flow Traders BV are €3.00 (price ÷ EPS = P/E 7.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Flow Traders BV (FLOW)?
The net margin of Flow Traders BV is 16.0% (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 Flow Traders BV (FLOW)?
The return on equity (ROE) of Flow Traders BV is 15.3% (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 Flow Traders BV (FLOW)?
On an EBIT basis the return on assets of Flow Traders BV is 1.2% (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 Flow Traders BV (FLOW)?
The operating margin of Flow Traders BV is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Flow Traders BV (FLOW)?
Revenue at Flow Traders BV is growing +7.5% versus a year earlier (3y avg −9.5%). 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 Flow Traders BV (FLOW)?
Earnings per share at Flow Traders BV are growing −44.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Flow Traders BV (FLOW) generate?
The free cash flow of Flow Traders BV is €532M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Flow Traders BV (FLOW) carry?
The net debt of Flow Traders BV is €2.9B (fiscal year 2025, ≈ 5.5 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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Some data
Nov 8, 2026