Flow Traders N.V. (FLOW.AS)

Flow Traders N.V. (FLOW.AS) — VMCI valuation read

Flow Traders N.V. sits at VMCI 53/100, with the Financial Services sector median at 50. That 3-point spread is the first thing to note on FLOW.AS: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on FLOW.AS are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on FLOW.AS: FLOW.AS trades at 14.0x earnings, 22% below the Financial Services median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Financial Services median (10.0%). The Risk read: net debt to EBITDA of 1.3x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

FLOW.AS rose 2.7% over the trailing 7 days, with a -16.2% read on a 30-day basis.