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VGP NV (VGP) Fair Value & Analysis

Real Estate · BE · Market cap €2.5B

VN VGP NV VGP · BR
Price€84.30
Fair Value€148.47
Upside+76.1%
Quality95/100
Evidence: High Range €74.18 – €148.47

Fair value as of: Jun 26, 2026

From 25 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from €171.40 to €148.47 (−13.4%) since Jun 24, 2026. Share price +0.5% over the past month.

Price vs Fair Value (12 months)

€102.46 €75.30 Fair Value €148.47 Jul 2025 Jun 2026

12‑month range €75.30 – €102.46 · fair‑value band €74.18 – €148.47 · the €84.30 price screens below the €148.47 fair value. As of Jun 26, 2026.

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Analysis

VGP NV (VGP) currently trades at €84.30, while our model-based Fair Value estimate is €148.47 — implying the stock looks roughly 76.1% undervalued today. We read business quality at 95/100 (high quality), in the Real Estate 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.

Trailing-twelve-month revenue stands at €192M. Revenue grew 46.5% year over year. It earns a return on equity of 11.6%. Net debt stands at €1.8B. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) €192M
Revenue growth (YoY) +46.5%
Net margin 151%
Return on equity 11.6%
Free cash flow €50.9M FY2025
P/E ratio 7.7
More key figures
Operating margin 56.0%
EPS (TTM) €10.64
Dividend yield 4.3%
EPS growth (YoY) -24.4%
Net debt €1.8B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

VGP NV, together with its subsidiaries, develops, owns, and manages logistics and semi-industrial real estate, and ancillary offices. The company operates through three segments: Investment, Property Development, and Renewable Energy. It leases its properties to tenants in the logistic sector, including storing, assembling, reconditioning, and final treatment of goods. The company also provides property management services; asset management services related to corporate administration, financing, business planning, reporting, budgeting, management of tax and legal affairs, controlling, etc.; and project management and leasing services. In addition, the company offers facility management and leasing services; facility management services, such as maintenance, waste management, and greenery maintenance services; and other services comprising green energy generated through roof-fixed solar panels, smart energy management, and green electric charging facilities and infrastructure. It op…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

VGP NV reported revenue of €175M in FY2025 versus €46.4M in FY2021, a compound +39.3%/yr. Reported net income was €290M in FY2025, compounding −18.2%/yr from FY2021.

Revenue +39.3%/yr
FY21 €46.4M
FY22 €88.3M
FY23 €120M
FY24 €126M
FY25 €175M
Net income −18.2%/yr
FY21 €650M
FY22 −€123M
FY23 €87.3M
FY24 €287M
FY25 €290M

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Frequently asked questions

Is VGP NV (VGP) undervalued?
As of Jun 26, 2026, our model estimates a fair value of €148.47 versus a price of €84.30 — about +76% (undervalued). Model-based estimate, not financial advice.
What is the fair value of VGP?
Our 21-model fair value for VGP NV is €148.47 (as of Jun 26, 2026), built from audited fundamentals. The current price is €84.30.
What is the quality score of VGP?
VGP NV has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of VGP NV (VGP)?
VGP NV reported trailing-twelve-month revenue of about €192M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of VGP?
The net profit margin of VGP NV is about 151.3%, meaning it keeps roughly 151.3% of revenue as net income. Based on the latest reported figures.
Does VGP NV pay a dividend?
VGP NV currently shows a dividend yield of about 4.29% relative to its recent price (as of Jun 26, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.