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CORBION NV (CRBN.AS) Stock Fundamental Analysis

AMS:CRBN - Euronext Amsterdam - NL0010583399 - Common Stock - Currency: EUR

20.02  -0.08 (-0.4%)

Fundamental Rating

6

Overall CRBN gets a fundamental rating of 6 out of 10. We evaluated CRBN against 60 industry peers in the Chemicals industry. While CRBN has a great profitability rating, there are quite some concerns on its financial health. CRBN may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

CRBN had positive earnings in the past year.
In the past year CRBN had a positive cash flow from operations.
Each year in the past 5 years CRBN has been profitable.
CRBN had a positive operating cash flow in each of the past 5 years.
CRBN.AS Yearly Net Income VS EBIT VS OCF VS FCFCRBN.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M

1.2 Ratios

With an excellent Return On Assets value of 12.43%, CRBN belongs to the best of the industry, outperforming 98.33% of the companies in the same industry.
CRBN has a better Return On Equity (24.88%) than 96.67% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.89%, CRBN belongs to the top of the industry, outperforming 81.67% of the companies in the same industry.
Industry RankSector Rank
ROA 12.43%
ROE 24.88%
ROIC 6.89%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
CRBN.AS Yearly ROA, ROE, ROICCRBN.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

Looking at the Profit Margin, with a value of 14.92%, CRBN belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
CRBN's Profit Margin has improved in the last couple of years.
CRBN has a better Operating Margin (7.04%) than 68.33% of its industry peers.
CRBN's Operating Margin has declined in the last couple of years.
CRBN has a Gross Margin (24.81%) which is in line with its industry peers.
In the last couple of years the Gross Margin of CRBN has declined.
Industry RankSector Rank
OM 7.04%
PM (TTM) 14.92%
GM 24.81%
OM growth 3Y1.69%
OM growth 5Y-4.15%
PM growth 3Y26.84%
PM growth 5Y41.37%
GM growth 3Y-0.41%
GM growth 5Y-2.31%
CRBN.AS Yearly Profit, Operating, Gross MarginsCRBN.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CRBN is still creating some value.
CRBN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
CRBN.AS Yearly Shares OutstandingCRBN.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
CRBN.AS Yearly Total Debt VS Total AssetsCRBN.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

The Debt to FCF ratio of CRBN is 5.10, which is a neutral value as it means it would take CRBN, 5.10 years of fcf income to pay off all of its debts.
CRBN has a better Debt to FCF ratio (5.10) than 73.33% of its industry peers.
A Debt/Equity ratio of 0.40 indicates that CRBN is not too dependend on debt financing.
CRBN has a Debt to Equity ratio (0.40) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 5.1
Altman-Z N/A
ROIC/WACC1
WACC6.88%
CRBN.AS Yearly LT Debt VS Equity VS FCFCRBN.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

A Current Ratio of 1.17 indicates that CRBN should not have too much problems paying its short term obligations.
With a Current ratio value of 1.17, CRBN is not doing good in the industry: 76.67% of the companies in the same industry are doing better.
A Quick Ratio of 0.58 indicates that CRBN may have some problems paying its short term obligations.
CRBN has a worse Quick ratio (0.58) than 86.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.17
Quick Ratio 0.58
CRBN.AS Yearly Current Assets VS Current LiabilitesCRBN.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

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6

3. Growth

3.1 Past

CRBN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 167.14%, which is quite impressive.
CRBN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 49.84% yearly.
Looking at the last year, CRBN shows a small growth in Revenue. The Revenue has grown by 1.90% in the last year.
CRBN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.70% yearly.
EPS 1Y (TTM)167.14%
EPS 3Y35.51%
EPS 5Y49.84%
EPS Q2Q%-46.79%
Revenue 1Y (TTM)1.9%
Revenue growth 3Y6.35%
Revenue growth 5Y5.7%
Sales Q2Q%4.6%

3.2 Future

CRBN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 34.51% yearly.
The Revenue is expected to grow by 5.32% on average over the next years.
EPS Next Y54.84%
EPS Next 2Y34.51%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.18%
Revenue Next 2Y5.05%
Revenue Next 3Y5.32%
Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
CRBN.AS Yearly Revenue VS EstimatesCRBN.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
CRBN.AS Yearly EPS VS EstimatesCRBN.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5

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8

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 6.14, the valuation of CRBN can be described as very cheap.
Based on the Price/Earnings ratio, CRBN is valued cheaper than 98.33% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.80, CRBN is valued rather cheaply.
CRBN is valuated correctly with a Price/Forward Earnings ratio of 12.85.
Based on the Price/Forward Earnings ratio, CRBN is valued a bit cheaper than the industry average as 78.33% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.91, CRBN is valued a bit cheaper.
Industry RankSector Rank
PE 6.14
Fwd PE 12.85
CRBN.AS Price Earnings VS Forward Price EarningsCRBN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

CRBN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CRBN is cheaper than 70.00% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CRBN indicates a rather cheap valuation: CRBN is cheaper than 83.33% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 11.67
EV/EBITDA 9.19
CRBN.AS Per share dataCRBN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CRBN has a very decent profitability rating, which may justify a higher PE ratio.
CRBN's earnings are expected to grow with 34.51% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.11
PEG (5Y)0.12
EPS Next 2Y34.51%
EPS Next 3YN/A

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4

5. Dividend

5.1 Amount

CRBN has a Yearly Dividend Yield of 3.06%.
Compared to an average industry Dividend Yield of 2.99, CRBN pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.39, CRBN pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.06%

5.2 History

Dividend Growth(5Y)0%
Div Incr Years1
Div Non Decr Years5
CRBN.AS Yearly Dividends per shareCRBN.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

21.80% of the earnings are spent on dividend by CRBN. This is a low number and sustainable payout ratio.
DP21.8%
EPS Next 2Y34.51%
EPS Next 3YN/A
CRBN.AS Yearly Income VS Free CF VS DividendCRBN.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M
CRBN.AS Dividend Payout.CRBN.AS Dividend Payout, showing the Payout Ratio.CRBN.AS Dividend Payout.PayoutRetained Earnings

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CORBION NV

AMS:CRBN (3/28/2025, 1:39:37 PM)

20.02

-0.08 (-0.4%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-27 2025-02-27/amc
Earnings (Next)07-31 2025-07-31
Inst Owners77.4%
Inst Owner ChangeN/A
Ins Owners0.21%
Ins Owner ChangeN/A
Market Cap1.17B
Analysts78.46
Price Target27.69 (38.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.06%
Yearly Dividend0.56
Dividend Growth(5Y)0%
DP21.8%
Div Incr Years1
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0.53%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)3.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.14%
Revenue NY rev (3m)2.34%
Valuation
Industry RankSector Rank
PE 6.14
Fwd PE 12.85
P/S 0.91
P/FCF 11.67
P/OCF 6.33
P/B 1.51
P/tB 1.73
EV/EBITDA 9.19
EPS(TTM)3.26
EY16.28%
EPS(NY)1.56
Fwd EY7.78%
FCF(TTM)1.72
FCFY8.57%
OCF(TTM)3.16
OCFY15.79%
SpS22.11
BVpS13.26
TBVpS11.56
PEG (NY)0.11
PEG (5Y)0.12
Profitability
Industry RankSector Rank
ROA 12.43%
ROE 24.88%
ROCE 8.18%
ROIC 6.89%
ROICexc 7.21%
ROICexgc 7.95%
OM 7.04%
PM (TTM) 14.92%
GM 24.81%
FCFM 7.76%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y1.69%
OM growth 5Y-4.15%
PM growth 3Y26.84%
PM growth 5Y41.37%
GM growth 3Y-0.41%
GM growth 5Y-2.31%
F-Score8
Asset Turnover0.83
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 5.1
Debt/EBITDA 1.73
Cap/Depr 97%
Cap/Sales 6.54%
Interest Coverage 3.61
Cash Conversion 103.72%
Profit Quality 51.98%
Current Ratio 1.17
Quick Ratio 0.58
Altman-Z N/A
F-Score8
WACC6.88%
ROIC/WACC1
Cap/Depr(3y)194.04%
Cap/Depr(5y)192.31%
Cap/Sales(3y)11.51%
Cap/Sales(5y)11.48%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)167.14%
EPS 3Y35.51%
EPS 5Y49.84%
EPS Q2Q%-46.79%
EPS Next Y54.84%
EPS Next 2Y34.51%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)1.9%
Revenue growth 3Y6.35%
Revenue growth 5Y5.7%
Sales Q2Q%4.6%
Revenue Next Year5.18%
Revenue Next 2Y5.05%
Revenue Next 3Y5.32%
Revenue Next 5YN/A
EBIT growth 1Y44.66%
EBIT growth 3Y8.15%
EBIT growth 5Y1.31%
EBIT Next Year138.83%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y520.5%
FCF growth 3YN/A
FCF growth 5Y21.2%
OCF growth 1Y11.31%
OCF growth 3Y101.81%
OCF growth 5Y9.98%