Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
bpost SA/NV is Belgium's leading postal operator and a majority government-owned company specializing in mail and parcel services. Headquartered in Brussels, it serves as the universal service obligation provider, handling the collection, sorting, routing, and delivery of letters, postcards, advertising materials, documents, newspapers, and packages for individuals, businesses, and government entities. The company offers logistic and express transport solutions, doorstep financial transactions like pension payments, basic banking services for underserved populations, and maintains an extensive retail network of over 1,300 postal points. Employing approximately 36,000 people, bpost SA/NV diversifies beyond declining traditional mail volumes through e-commerce logistics, with key acquisitions including Radial in 2017 for North American expansion and Landmark Global for cross-border parcels. It also provides document management, certified electronic communication, and international added-value services via subsidiaries like Certipost NV-SA. Operating across Europe and North America, bpost SA/NV plays a vital societal and economic role in Belgium, adapting to market shifts with automation, efficiency improvements, and parcel growth to counter structural mail declines.
Operating margin is thin at 1.84%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.2%, steady but not accelerating. Free cash flow declined 27% despite revenue growth, conversion is weakening.
Free cash flow declined 27% versus the prior year, cash generation momentum has weakened. Net debt of €1.77B represents 6.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€4.41B
▲ +3.2% YoY
Net Income (TTM)
-€34M
▲ +80.7% YoY
Op. Margin
1.63%
▲ +4.5pp YoY
ROIC
1.81%
▲ +5.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€345M
▼ -27.4% YoY
Op. Cash Flow (TTM)
€391M
▼ -21.6% YoY
Net Debt
€1.77B
Cash & Equiv.
€1.26B
3Y CAGR: +0.7%
3Y CAGR: +3.0%
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