VGP - Public Comps and Valuation Multiples

VGP Overview

About VGP

VGP SA is a real estate company. The company through its subsidiaries designs, constructs, and leases out logistics complexes and semi-industrial parks. Its business line includes Investment business, Property Development, and Property and asset management. The company derives the maximum rental income from the investment business. Geographically, it has a presence in Germany, Spain, Austria, the Czech Republic, Slovakia, Hungary, Latvia, and Romania.

Founded

2007

HQ

Employees

410

Website

vgpparks.eu

Sectors

Real Estate Development

Financials

LTM Revenue $90.1M

LTM EBITDA $224M

EV

$5.4B

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VGP Financials

As of October 2025, VGP reported last 12-month revenue of $90.1M and EBITDA of $224M.

In the same period, VGP generated $46.8M in LTM gross profit and $291M in net income.

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VGP P&L

In the most recent fiscal year, VGP reported revenue of $145M and EBITDA of $429M.

VGP expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$90.1M	XXX	$145M	XXX	XXX	XXX
Gross Profit	$46.8M	XXX	$116M	XXX	XXX	XXX
Gross Margin	52%	XXX	80%	XXX	XXX	XXX
EBITDA	$224M	XXX	$429M	XXX	XXX	XXX
EBITDA Margin	248%	XXX	296%	XXX	XXX	XXX
EBIT	$355M	XXX	$43.2M	XXX	XXX	XXX
EBIT Margin	394%	XXX	30%	XXX	XXX	XXX
Net Profit	$291M	XXX	$332M	XXX	XXX	XXX
Net Margin	323%	XXX	229%	XXX	XXX	XXX
Net Debt	XXX	XXX	$1.8B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for VGP including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $90.1M. EBITDA for the last twelve months was $224M. In the most recent fiscal year, VGP achieved $145M in revenue and $429M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$90.1M	Analyst estimates available to subscribers	$145M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$46.8M	Analyst estimates available to subscribers	$116M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	52.0% gross margin	Analyst estimates available to subscribers	79.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$224M	Analyst estimates available to subscribers	$429M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	248.4% EBITDA margin	Analyst estimates available to subscribers	295.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$355M	Analyst estimates available to subscribers	$43.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	393.7% EBIT margin	Analyst estimates available to subscribers	29.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$291M	Analyst estimates available to subscribers	$332M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	323.1% net profit margin	Analyst estimates available to subscribers	228.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$1.8B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for VGP

This financial data table provides comprehensive performance metrics for VGP, a company based in Belgium. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

VGP generated $90.1M in revenue over the last twelve months.
The company achieved $224M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $46.8M.
Net income over the last twelve months reached $291M.

Fiscal Year Performance

In the most recent fiscal year, VGP reported $145M in total revenue.
Fiscal year EBITDA was $429M.
The company maintained a gross profit margin of 79.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 295.6%.
Net profit margin reached 228.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for VGP. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

VGP Stock Performance

VGP has current market cap of EUR 2.8B (or $3.2B), and EV of EUR 4.7B (or $5.4B).

Market Cap Evolution

VGP Stock Data

As of November 14, 2025, VGP's stock price is EUR 103 (or $119).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$5.4B	$3.2B	XXX	XXX	XXX	XXX	$6.00

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VGP Valuation Multiples

VGP's trades at 37.5x EV/Revenue multiple, and 12.7x EV/EBITDA.

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VGP Financial Valuation Multiples

As of November 14, 2025, VGP has market cap of $3.2B and EV of $5.4B.

Equity research analysts estimate VGP's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

VGP has a P/E ratio of 11.1x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$3.2B	XXX	$3.2B	XXX	XXX	XXX
EV (current)	$5.4B	XXX	$5.4B	XXX	XXX	XXX
EV/Revenue	60.4x	XXX	37.5x	XXX	XXX	XXX
EV/EBITDA	24.3x	XXX	12.7x	XXX	XXX	XXX
EV/EBIT	15.4x	XXX	126.0x	XXX	XXX	XXX
EV/Gross Profit	116.2x	XXX	n/a	XXX	XXX	XXX
P/E	11.1x	XXX	9.8x	XXX	XXX	XXX
EV/FCF	-33.7x	XXX	-337.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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VGP Margins & Growth Rates

VGP's last 12 month revenue growth is -19%

VGP's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

VGP's rule of 40 is 108% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

VGP's rule of X is 200% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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VGP Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-19%	XXX	-29%	XXX	XXX	XXX
EBITDA Margin	248%	XXX	296%	XXX	XXX	XXX
EBITDA Growth	27%	XXX	14%	XXX	XXX	XXX
Rule of 40	108%	XXX	276%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	200%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	50%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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VGP Public Comps

See public comps and valuation multiples for Real Estate Development comps

	EV/Revenue			EV/EBITDA
	2025E	2026E	2027E	2025E	2026E	2027E
Aldar Properties	XXX	XXX	XXX	XXX	XXX	XXX
CTP	XXX	XXX	XXX	XXX	XXX	XXX
Royal Heijmans	XXX	XXX	XXX	XXX	XXX	XXX
New Amsterdam Invest	XXX	XXX	XXX	XXX	XXX	XXX
Aspen Group	XXX	XXX	XXX	XXX	XXX	XXX
XXXXXXXX	XXX	XXX	XXX	XXX	XXX	XXX
XXXXXXXX	XXX	XXX	XXX	XXX	XXX	XXX

Valuation data powered by FactSet, Inc.

VGP M&A and Investment Activity

VGP acquired XXX companies to date.

Last acquisition by VGP was XXXXXXXX, XXXXX XXXXX XXXXXX . VGP acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).

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Latest Acquisitions by VGP

Acquired Company	EV	EV/Revenue	EV/EBITDA
XXXXXXXXX	XXX	XXX	XXX
XXXXXXXXX	XXX	XXX	XXX
XXXXXXXXX	XXX	XXX	XXX
XXXXXXXXX	XXX	XXX	XXX
XXXXXXXXX	XXX	XXX	XXX

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About VGP

When was VGP founded?	VGP was founded in 2007.
Where is VGP headquartered?	VGP is headquartered in Belgium.
How many employees does VGP have?	As of today, VGP has 410 employees.
Who is the CEO of VGP?	VGP's CEO is Mr. Jan Van Geet.
Is VGP publicy listed?	Yes, VGP is a public company listed on BRU.
What is the stock symbol of VGP?	VGP trades under VGP ticker.
When did VGP go public?	VGP went public in 2007.
Who are competitors of VGP?	Similar companies to VGP include e.g. Aldar Properties, CTP, Royal Heijmans, New Amsterdam Invest.
What is the current market cap of VGP?	VGP's current market cap is $3.2B
What is the current revenue of VGP?	VGP's last 12 months revenue is $90.1M.
What is the current revenue growth of VGP?	VGP revenue growth (NTM/LTM) is -19%.
What is the current EV/Revenue multiple of VGP?	Current revenue multiple of VGP is 60.4x.
Is VGP profitable?	Yes, VGP is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of VGP?	VGP's last 12 months EBITDA is $224M.
What is VGP's EBITDA margin?	VGP's last 12 months EBITDA margin is 248%.
What is the current EV/EBITDA multiple of VGP?	Current EBITDA multiple of VGP is 24.3x.
What is the current FCF of VGP?	VGP's last 12 months FCF is -$161M.
What is VGP's FCF margin?	VGP's last 12 months FCF margin is -179%.
What is the current EV/FCF multiple of VGP?	Current FCF multiple of VGP is -33.7x.

VGP Valuation Multiples

Discover revenue and EBITDA valuation multiples for VGP and similar public comparables like New Amsterdam Invest, Aspen Group, and Royal Heijmans.

VGP Overview

About VGP

Founded

HQ

Employees

Website

Sectors

Financials

EV

Valuation Multiples

Valuation Multiples for 15K+ Public Comps

VGP Financials

VGP P&L

Financial Performance Summary for VGP

Recent Performance Highlights

Fiscal Year Performance

VGP Stock Performance

Market Cap Evolution

VGP Stock Data

Benchmark Trading Valuation Multiples by Industry

VGP Valuation Multiples

EV/Revenue (LTM) Evolution

VGP Financial Valuation Multiples

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VGP Margins & Growth Rates

VGP Operational Valuation Multiples

Valuation Multiples Across 220+ Verticals

VGP Public Comps

VGP M&A and Investment Activity

Latest Acquisitions by VGP

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About VGP

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