Amsterdam Stock Exchange Analysis – Stock By Stock Analysis List
Amsterdam Stock Exchange – The search for 10-baggers starts with the As
I have recently looked at the EURO STOXX 50 index and the valuations there are crazy for many constituents. It seems the market in Europe is happy with dividends yields of 1% or at best 2%. The DOW JONES index (video analysis stock by stock) is a bit better but still not far from extremely high valuations and consequently low long-term returns.
The high valuations and ‘nobody cares’ attitude where all people focus on is how a dividend yield of 1.2% is much better than what you get in the bank or what a bond gives, creates huge market mispricing and opportunities for when a stock becomes part of the index mania. Therefore, the key is not to look at the most known names with already extreme market capitalizations, but to look at smaller companies with room to run that offer the possibility to get included in those indexes thanks to business and earning growth over time.
Here is the video that summarizes the research:
Research criteria and strategy
You don’t need a business to increase its earnings 10x to see the stock 10x, you need it to increase earnings 3x and as the market cap grows, index funds will be forced to include it, demand for the stock will grow, creating a spiral and you get a 10 bagger.
So, I’ll start with the As of various stock markets, I am looking for good businesses that have the potential to triple earnings over the next decade which would make me happy as an investor but that also means that there is a possibility for a 10 bagger.
The key factors I am looking for are:
- Business quality reflected in profitability with preferably a strong moat.
- Scaling options for the business over the long-term.
- A stock price still flying under the radar of the market. There are many great businesses, but those are usually very expensive, I need to find them before the market finds them.
The smaller the market capitalization the better because then index inclusion is not yet a thing and there is much more room to run. Let’s start with the Dutch stock market and every stock listed on the Amsterdam Stock Exchange.
My goals it of find one great business a year, for that I need to turn as many stones as possible. When it comes to stock market research, the best way to turn a stone is to write an overview research article on the business so here we go.
Amsterdam Stock Exchange stocks list with analysis
Below you will find the business name, stock ticker, stock ISIN, quick comment and link to the full research stock analysis. (in bold the analyzed stocks)
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AALBERTS NV stock analysis – AALB – NL0000852564 – Interesting Compounder – Aalberts Stock Analysis
ABN AMRO BANK N.V – ABN – NL0011540547 – I don’t do banks and Insurance 🙁
ACCELL GROUP – ACEL – NL0009767532ACCSYS GB00BQQFX454 AXS – Good business but difficult sector – Accell Stock Analysis
Accsys Technologies PLC Stock Analysis – LON: AXS AMS: AXS – Growing but not profitable – Accsys Stock Analysis
ADUX FR0012821890 ADUX – A dot-com bubble relic – doesn’t look good – ADUX stock analysis
ADYEN NL0012969182 ADYEN – Great business, fast growth – Adyen stock analysis & valuation
AEDIFICA BE0003851681 AED – Fast growing REITs focused on elderly care homes – Aedifica stock Analysis
AEGON NL0000303709 AGN – don’t do banks and Insurance 🙁
AHOLD DEL NL0011794037 AD – Strong position in the Netharlands + Amazon like business BOL – Ahold stock analysis
AIR FRANCE -KLM FR0000031122 AF – 3 reasons to avoid it – Air France KLM stock analysis
AJAX NL0000018034 AJAX – Hm, I feel it will always be about winning, not long-term profits – and they state it in their Annual Report how it is about financial balance, not profits – not for me.
AKZO NOBEL NL0013267909 AKZA – Stock price likely up due to 1 billion EUR bubyack – Akzo Nobel Stock Analysis
ALFEN NL0012817175 ALFEN – Exposed to EV growth trends, We make a valuation – Alfen Stock Analysis
ALLFUNDS GROUP GB00BNTJ3546 ALLFG – Plenty of reasons to AVOID – Allfunds Group Stock Analysis
ALUMEXX N.V. NL0012194724 ALX – Market capitalization of just 7 million EUR – we could buy it out 🙁
AMG NL0000888691 AMG – 5X Potential On EV, Batteries, Vanadium – Advanced Metallurgical Group Analysis
AMSTERDAM COMMOD. NL0000313286 ACOMO – Interesting Acquisition Improves Profits – Acomo Stock Analysis (PREMIUM CONTENT)
APERAM LU0569974404 APAM – Cyclical Stock To Watch In Steel Cycle Downturn – Aperam Stock Analysis
ARCADIS NL0006237562 ARCAD – Cyclial and expensive – Arcadis Stock Analysis
ARCELORMITTAL SA LU1598757687 MT – improving business but keep in mind the cycle – NYSE:MT Stock Analysis
ASM INTERNATIONAL NL0000334118 AS – Amazing example of great investment – ASM stock analysis
ASML HOLDING NL0010273215 ASML – Video discussion as part of EuroStoxx Analysis – ASML Stock Overvalued
ASR NEDERLAND NL0011872643 ASRNL – don’t do banks and Insurance 🙁
ATRIUM EUR REALEST JE00B3DCF752 ATRS – Poland commercial and residential REIT – ATRS stock analysis
AVANTIUM NL0012047823 AVTX – VC Style Investment – ESG Stock – Avantium Stock Analysis
B&S Group LU1789205884 BSGR – old retail turning into e-commerce platform – B&S Stock Analysis (premium)
BAM GROEP KON NL0000337319 BAMNB – likely to remain an ugly investment – BAM Stock Analysis
BASIC-FIT NL0011872650 BFIT – not real fair accounting for value investing – BASIC FIT STOCK ANALYSIS
BE SEMICONDUCTOR NL0012866412 BESI – cyclical industry, good business – BESI Stock Analysis
BETER BED NL0000339703 BBED – betting on a new business ?!?! – Beter Bed Stock Analysis
BEVER HOLDING NL0000285278 BEVER – value microcap – Bever Holding Stock Analysis
BOSKALIS WESTMIN NL0000852580 BOKA – cyclical – Boskalis Stock Analysis
BOUSSARD GAVAUDAN GG00B1FQG453 BGHL – a fund, not for me
BOUSSARD GHL GBP GG00B39VMM07 BGHS – a fund, not for me
BRILL KON NL0000442523 BRILL – small business – Koninklijke Brill Stock Analysis
BRUNEL INTERNAT NL0010776944 BRNL – small and stable – BRNL Stock Analysis
CM.COM NL0012747059 CMCOM – risky & expensive growth stock – CMCOM Stock Analysis
COCA-COLA EUROPEAN GB00BDCPN049 CCEP – there is better – CCEP Stock Analysis
CORBION NL0010583399 CRBN – promising growth, but… – Corbion Stock Analysis
CORE LABORATORIES NL0000200384 CLB – bet on oil – CLB Stock Analysis
CTAC NL0000345577 CTAC – Microcap Doing Well Now – CTAC Stock Analysis
CTP NL00150006R6 CTPNV – fast growing logistics real estate play – CTPNV Stock Analysis
DGB GROUP N.V. NL0009169515 DGB – Microcap with questionable business model
DPA GROUP NL0009197771 DPA – Microcap in liquidation
DSC2 NL00150000S7 DSC2 – SPAC
DSC2 TREAS SHARES NL00150002R5 DSC2S – SPAC
DSM KON NL0000009827 DSM Stock Analysis – A Valuation Question
DUTCH STAR C W11 NL00150000T5 DSCW1 – SPAC
DUTCH STAR C W12 NL00150000U3 DSCW2 – SPAC
DUTCH STAR C W13 NL00150000V1 DSCW3 – SPAC
EASE2PAY NV NL0000345627 EAS2P – 6 Employees Microcap Betting On Creating a Payment Platform…
EFIC1 ORD SHARES NL00150006Z9 EFIC1 – SPAC
EFIC1 TREASURY SH NL00150009J7 EFICT – SPAC
EFIC1 WARRANTS NL00150007A0 EFICW – SPAC
ENVIPCO NL0009901610 ENVI – SPAC
ESG CORE INVEST NL00150006O3 ESG – SPAC
ESG CORE TREAS SHA NL00150006Q8 ESGT – SPAC
ESG CORE WARRANTS NL00150006P0 ESGWA – SPAC
ESPERITE NL0009272137 ESP – Micro,micro,microcap – 1.3 millino market cap 🙁
EUROCASTLE INVEST. GB00B94QM994 ECT – microcap focused on Italian loan market – in liquidation
EUROCOMMERCIAL NL0000288876 ECMPA – Interesting 9% Yield but with Risks – ECMPA Stock Analysis
EURONEXT NL0006294274 ENX – too expensive – Euronext Stock Analysis
EURONEXT DS NL0015000A04 ENXDS
FAGRON BE0003874915 FAGR – Balance Sheet Risks – Fagron Stock Analysis
FASTNED NL0013654809 FAST – A bet, sure only on dilution – Fastned Stock Analysis
FLOW TRADERS NL0011279492 FLOW – covered stock, only premium: FLOW Analysis
FNG NV BE0974332646 FNG – liquidated
FORFARMERS NL0011832811 FFARM – Premium – Full EU Feed Sector Analysis
FUGRO NL00150004A7 FUR – too much of a bet – Fugro Stock analysis
GALAPAGOS BE0003818359 GLPG – impossible to analyze for me
GEOJUNXION NL0000430106 GOJXN – microcap
GRANDVISION NL0010937066 GVNV – takeover
HAL TRUST BMG455841020 HAL – Investment company, formerly Holland America Line – HAL Analysis
HEIJMANS NL0009269109 HEIJM – Construction
HEINEKEN NL0000009165 HEIA – All depends on future growth and valuation
HEINEKEN HOLDING NL0000008977 HEIO
HOLLAND COLOURS NL0000440311 HOLCO – Cyclical
HUNTER DOUGLAS ANN4327C1220 HDG – Construction, cyclical
HUNTER DOUGLAS ANN4327C1303 HUNDP
HYDRATEC NL0009391242 HYDRA – Interesting: Growth, M&A, Niche, but Uncertain
ICT GROUP NL0000359537 ICT – Delisted
IEX GROUP NV NL0010556726 IEX – beurs.nl
IMCD NL0010801007 IMCD – cyclical
ING GROEP N.V. NL0011821202 INGA
INPOST LU2290522684 INPST – Bet on Business Model and Growth
INTERTRUST NL0010937058 INTER – cheap, 10% yield, but has debt.
JDE PEET’S NL0014332678 JDEP – Cash Flow Positive, relatively cheap YouTube
JUST EAT TAKEAWAY NL0012015705 TKWY – Market Leading Growth Position
KENDRION NL0000852531 KENDR – Electrification Focus, But Also Risky
KIADIS NL0011323407 KDS – Delisted
KPN KON NL0000009082 KPN – Ok, But there is better globally + Debt Risk – Just Dividend Stock
LAVIDE HOLDING NL0010545679 LVIDE – microcap
LUCASBOLS NL0010998878 BOLS – Ok, but not great!
MAREL IS0000000388 MAREL – Good Business, but growth priced in
MKB Nedsense NL0009312842 NEDSE – Microcap
MOREFIELD GROUP CWN814651014 MORE – Microcap
NEDAP NL0000371243 NEDAP- stable, ok dividend, nothing special
NEPI ROCKCASTLE IM00BDD7WV31 NRP – Eastern Europe Commercial RE – Too Risky, those grow like mushrooms
NEW SOURCES ENERGY NL0009822014 NSE – Microcap
NEWAYS ELECTRONICS NL0000440618 NEWAY – Takeover Offer on Table
NN GROUP NL0010773842 NN – Insurance
NOVISOURCE NL0010696704 NOVI – micro
NSI N.V. NL0012365084 NSI – if things remain stable, 6.5% yield plus some growth
OCI NL0010558797 OCI – On the costlier side of the fertilizer cost curve
ORANJEWOUD A NL0000370419 ORANW – Microfloat of less than 1%
ORDINA NL0000440584 ORDI – Another IT from the dot-com bust
PEGASUS ORD SHARES NL00150009D0 PACE – SPAC
PEGASUS UNITS NL00150009E8 PACEU – SPAC
PEGASUS WARRANTS NL00150009B4 PACEW – SPAC
PERSHING GG00BPFJTF46 PSH – Let Bill Ackman Invest for you
PHARMING GROUP NL0010391025 PHARM – not my circle
PHILIPS BUY BACK NL0000009322 INPHI
PHILIPS KON NL0000009538 PHIA – Philips and Unilever are on my black stocks list
PORCELEYNE FLES NL0000378669 PORF
POSTNL NL0009739416 PNL – Daniel Kretinsky is preparing something, but what??
PPLA CLASS A BMG7209L1000 PPLAA – Investment Vehichle
PPLA CLASS B BMG7209L1182 PPLAB – Investment Vehicle
PPLA European Unit US69355L1098 PPLA – Investment Vehicle
PROSUS NL0013654783 PRX – Tencent with a discount (PREMIUM on Research Platform)
RANDSTAD NV NL0000379121 RAND – Human Resources – Mostly very cyclical
REINET INVESTMENTS LU0383812293 REINA – Insurance holding company – fair value assets?? Tricky
RELX GB00B2B0DG97 REN – Good business but a bit pricy
RENEWI GB0007995243 RWI – Recycling, thus cyclical, looked bad a year ago with low commodity prices
RETAIL ESTATES BE0003720340 RET – all looks fine, so it is about owning that kind of RE – plus, capital risk
ROODMICROTEC NL0000440477 ROOD – Microcap
ROYAL DUTCH SHELLA GB00B03MLX29 RDSA – Not the best oil stock
ROYAL DUTCH SHELLB GB00B03MM408 RDSB – RDS stock analysis
SAINT GOBAIN FR0000125007 SGO – interesting glass cyclical
SBM OFFSHORE NL0000360618 SBMO – Ugly sector but necessary, so here and there it is cheap
SIF HOLDING NL0011660485 SIFG – interesting cyclical
SIGNIFY NV NL0011821392 LIGHT – interesting business, looks good and will likely do ok
SLIGRO FOOD GROUP NL0000817179 SLIGR – competition by Jumbo makes it stagnate, plus current issues
SNOWWORLD NL0010627865 SNOW – interesting pre virus, but has debt now so???
STERN GROEP NL0000336303 STRN – they need a car market rebound in NL, likely will come as this is cyclical
TETRAGON FIN GRP GG00B1RMC548 TFG – calculating own NAV hahaha
THUNDERBIRD VGG885761061 TBIRD – microcap
TIE KINETIX NL0010389508 TIE – dot-com bust
TKH GROUP NL0000852523 TWEKA – looks good, niche business, complex for me
TOMTOM NL0013332471 TOM2 – what is the remaining value?
UNIBAIL-RODAMCO-WE FR0013326246 URW – example of commercial RE going wrong
UNILEVER GB00B10RZP78 UNA – Bad Management In My Opinion
V LANSCHOT KEMPEN NL0000302636 VLK – I don’t like their commercials
VALUE8 NL0010661864 VALUE – investment vehicle
VALUE8 CUM PREF NL0015118803 PREVA
VASTNED NL0000288918 VASTN – more RE gone bad
VEON BMG9349W1038 VEON – frontier markets telecom (Premium Research)
VIVORYON NL00150002Q7 VVY
VOLTA FINANCE GG00B1GHHH78 VTA
VOPAK NL0009432491 VPK – stable essential business, no miracle but see how price fits you
WDP BE0974349814 WDP – warehousing business, doing great, but pricy and issuing a lot of capital
WERELDHAVE NL0000289213 WHA – another RE gone bac
WOLTERS KLUWER NL0000395903 WKL – good profitable business – pricy
YATRA JE00B1FBT077 YATRA – travel agency – bad for now but you never know…