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Ackermans & Van Haaren (ENXTBR:ACKB) Could Be 11% Undervalued As Half Year Profit Jumps

Simply Wall St · 1d ago

Profitability jumps on steady revenue base

Ackermans & Van Haaren (ENXTBR:ACKB) has put profitability in focus after its half year 2026 results. Net income reached €339.56 million on broadly stable revenue of €3,030.22 million, with earnings per share from continuing operations also higher year on year.

The half year 2026 earnings release on 28 August appears to have reinforced confidence in Ackermans & Van Haaren, with the share price up 5.97% over 30 days and a 20.64% year to date share price return feeding into a 25.08% 1 year total shareholder return and a 104.97% 3 year total shareholder return, which indicates momentum that has been building rather than fading.

Compare Ackermans & Van Haaren's recent profitability shift with other companies that combine solid earnings and balance sheet strength in our curated list of solid balance sheet and fundamentals (440 results).

The recent share price climb comes alongside stronger earnings on largely unchanged revenue, which puts the spotlight on what is really driving Ackermans & Van Haaren. Are you paying for sentiment or for the underlying business when you buy in today?

Most Popular Narrative: 10% Undervalued

Against the last close at €280.60, the most followed narrative places Ackermans & Van Haaren's fair value at €311.86, implying a moderate valuation gap built on detailed earnings and margin assumptions.

The strong growth and record results achieved by Delen Private Bank and Bank Van Breda, with net inflows and synergetic collaboration, signal continued future revenue growth from financial services. DEME's record turnover and solid free cash flow generation, paired with reduced net financial debt, set the stage for improved net margins and earnings from enhanced operational efficiency and financial flexibility.

Read the complete narrative.

Want to see what justifies that higher fair value for Ackermans & Van Haaren? The narrative leans on modest top line growth, firmer margins and a richer future earnings multiple. Curious how those pieces fit together into a single price target story.

Result: Fair Value of €311.86 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, Ackermans & Van Haaren still faces concentration risk in core subsidiaries and execution risk around newer investments like V. Group and Confo Therapeutics, which could unsettle this narrative.

Find out about the key risks to this Ackermans & Van Haaren narrative.

Next Steps

With the current optimism around Ackermans & Van Haaren, it makes sense to inspect the details yourself and move quickly while sentiment is clear. To see what other investors view as the main upsides, review the 2 key rewards.

Looking for more investment ideas beyond Ackermans & Van Haaren?

If Ackermans & Van Haaren has sharpened your focus on quality, now is the time to widen your watchlist with other targeted ideas that fit your style.

Do not wait for the next headline to push you into action. Use these tailored stock lists to spot opportunities before they feel obvious to everyone else.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.