Ackermans & Van Haaren NV (ACKB) Fair Value & Analysis
Industrials · BE · Market cap €8.8B · ISIN BE0003764785
What is Ackermans & Van Haaren NV really worth?
Below-average quality, and trading another 19% above our fair value of €235.66.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 13 valuation models · updated 7 days ago
Share price +3.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (€151.37 to €294.58) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range €118.59 – €293.01 · fair‑value band €151.37 – €294.58 · the €280.60 price screens above the €235.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Ackermans & Van Haaren NV (ACKB) currently trades at €280.60, while our model-based Fair Value estimate is €235.66, implying the stock looks roughly 19.1% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Industrials sector. 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 €280.60 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.
Over the trailing twelve months, Ackermans & Van Haaren NV generated revenue of €6.0B at a net margin of 9.9%. Revenue declined 7.3% year over year. It earns a return on equity of 11.0%. Net debt stands at €9.2B. Fundamentals as of Aug 29, 2026
Our scenario range runs from €151.37 (bear case) to €294.58 (bull case); at €280.60, the current price sits within 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 about 5% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −16%, ACKB screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €9.17 per share, which is 3.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 13 models by family
Widest divergence: Earnings-Based (€634.47) versus Dividend Discount (€57.57). Highest evidence: Residual Income (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 67
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ackermans & Van Haaren NV engages in marine engineering and contracting, private banking, real estate, energy and resources, and growth capital businesses worldwide.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
of which total revenue +4.3 % · buybacks/dilution +0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ACKB screens 19% overvalued. Compare with Quanta Services, Inc →
Peer Group
Engineering & Construction · 816 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
Strength profile in five axes (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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Quanta Services, Inc PWR | $620.06 | $143.92 | −77% |
| Vinci SA DG | €114.35 | €185.62 | +62% |
| Comfort Systems USA, Inc FIX | $1,615 | $519.97 | −68% |
| Larsen & Toubro Limited LT | ₹4,072 | ₹2,196 | −46% |
| Ferrovial N.V FER | €57.28 | €19.17 | −67% |
| HOCHTIEF Aktiengesellschaft HOT | €426.40 | €203.87 | −52% |
| Samsung C&T Corporation 028260 | 373,000 KRW | 261,411 KRW | −30% |
| EMCOR Group EME | $775.04 | $549.47 | −29% |
| MasTec, Inc MTZ | $241.00 | $100.00 | −59% |
| Bouygues SA EN | €46.65 | €65.67 | +41% |
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