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DSM-FIRMENICH AG (DSFIR.AS) Stock Fundamental Analysis

Europe - AMS:DSFIR - CH1216478797 - Common Stock

74.1 EUR
-0.22 (-0.3%)
Last: 10/9/2025, 7:00:00 PM
Fundamental Rating

3

Overall DSFIR gets a fundamental rating of 3 out of 10. We evaluated DSFIR against 71 industry peers in the Chemicals industry. While DSFIR seems to be doing ok healthwise, there are quite some concerns on its profitability. DSFIR is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

DSFIR had positive earnings in the past year.
In the past year DSFIR had a positive cash flow from operations.
DSFIR.AS Yearly Net Income VS EBIT VS OCF VS FCFDSFIR.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 2024 0 500M 1B 1.5B 2B

1.2 Ratios

DSFIR has a Return On Assets of 0.77%. This is comparable to the rest of the industry: DSFIR outperforms 46.48% of its industry peers.
DSFIR has a Return On Equity of 1.17%. This is comparable to the rest of the industry: DSFIR outperforms 43.66% of its industry peers.
The Return On Invested Capital of DSFIR (1.27%) is worse than 61.97% of its industry peers.
Industry RankSector Rank
ROA 0.77%
ROE 1.17%
ROIC 1.27%
ROA(3y)5.56%
ROA(5y)N/A
ROE(3y)8.73%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
DSFIR.AS Yearly ROA, ROE, ROICDSFIR.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 0 5 10 15

1.3 Margins

DSFIR has a Profit Margin (1.95%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of DSFIR has declined.
DSFIR has a Operating Margin of 4.38%. This is comparable to the rest of the industry: DSFIR outperforms 52.11% of its industry peers.
In the last couple of years the Operating Margin of DSFIR has declined.
DSFIR has a Gross Margin of 33.17%. This is comparable to the rest of the industry: DSFIR outperforms 52.11% of its industry peers.
In the last couple of years the Gross Margin of DSFIR has declined.
Industry RankSector Rank
OM 4.38%
PM (TTM) 1.95%
GM 33.17%
OM growth 3Y-15.02%
OM growth 5YN/A
PM growth 3Y-36.48%
PM growth 5YN/A
GM growth 3Y-3.22%
GM growth 5YN/A
DSFIR.AS Yearly Profit, Operating, Gross MarginsDSFIR.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 2024 0 10 20 30

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so DSFIR is destroying value.
DSFIR has about the same amout of shares outstanding than it did 1 year ago.
DSFIR has a worse debt/assets ratio than last year.
DSFIR.AS Yearly Shares OutstandingDSFIR.AS Yearly Shares OutstandingYearly Shares Outstanding 2022 2023 2024 50M 100M 150M 200M 250M
DSFIR.AS Yearly Total Debt VS Total AssetsDSFIR.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2022 2023 2024 10B 20B 30B

2.2 Solvency

DSFIR has a debt to FCF ratio of 7.12. This is a slightly negative value and a sign of low solvency as DSFIR would need 7.12 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 7.12, DSFIR is doing good in the industry, outperforming 64.79% of the companies in the same industry.
A Debt/Equity ratio of 0.24 indicates that DSFIR is not too dependend on debt financing.
DSFIR has a better Debt to Equity ratio (0.24) than 69.01% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 7.12
Altman-Z N/A
ROIC/WACC0.3
WACC4.17%
DSFIR.AS Yearly LT Debt VS Equity VS FCFDSFIR.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2022 2023 2024 5B 10B 15B 20B

2.3 Liquidity

A Current Ratio of 2.69 indicates that DSFIR has no problem at all paying its short term obligations.
The Current ratio of DSFIR (2.69) is better than 78.87% of its industry peers.
A Quick Ratio of 1.74 indicates that DSFIR should not have too much problems paying its short term obligations.
DSFIR's Quick ratio of 1.74 is amongst the best of the industry. DSFIR outperforms 81.69% of its industry peers.
Industry RankSector Rank
Current Ratio 2.69
Quick Ratio 1.74
DSFIR.AS Yearly Current Assets VS Current LiabilitesDSFIR.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2022 2023 2024 2B 4B 6B 8B

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4

3. Growth

3.1 Past

The earnings per share for DSFIR have decreased strongly by -89.70% in the last year.
DSFIR shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -45.42% yearly.
Looking at the last year, DSFIR shows a very strong growth in Revenue. The Revenue has grown by 20.44%.
Measured over the past years, DSFIR shows a small growth in Revenue. The Revenue has been growing by 3.80% on average per year.
EPS 1Y (TTM)-89.7%
EPS 3Y-45.42%
EPS 5YN/A
EPS Q2Q%N/A
Revenue 1Y (TTM)20.44%
Revenue growth 3Y3.8%
Revenue growth 5YN/A
Sales Q2Q%0.28%

3.2 Future

DSFIR is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.83% yearly.
DSFIR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.95% yearly.
EPS Next Y22.92%
EPS Next 2Y14.04%
EPS Next 3Y13.86%
EPS Next 5Y13.83%
Revenue Next Year-0.21%
Revenue Next 2Y0.62%
Revenue Next 3Y2.05%
Revenue Next 5Y2.95%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
DSFIR.AS Yearly Revenue VS EstimatesDSFIR.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
DSFIR.AS Yearly EPS VS EstimatesDSFIR.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2 4 6

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2

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 78.83 indicates a quite expensive valuation of DSFIR.
61.97% of the companies in the same industry are cheaper than DSFIR, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.70. DSFIR is valued rather expensively when compared to this.
The Price/Forward Earnings ratio is 17.54, which indicates a rather expensive current valuation of DSFIR.
The rest of the industry has a similar Price/Forward Earnings ratio as DSFIR.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.15, DSFIR is valued a bit cheaper.
Industry RankSector Rank
PE 78.83
Fwd PE 17.54
DSFIR.AS Price Earnings VS Forward Price EarningsDSFIR.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of DSFIR is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, DSFIR is valued a bit cheaper than the industry average as 67.61% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 25.84
EV/EBITDA 11.71
DSFIR.AS Per share dataDSFIR.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates DSFIR does not grow enough to justify the current Price/Earnings ratio.
DSFIR's earnings are expected to grow with 13.86% in the coming years. This may justify a more expensive valuation.
PEG (NY)3.44
PEG (5Y)N/A
EPS Next 2Y14.04%
EPS Next 3Y13.86%

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3

5. Dividend

5.1 Amount

DSFIR has a Yearly Dividend Yield of 3.43%.
DSFIR's Dividend Yield is a higher than the industry average which is at 3.05.
Compared to an average S&P500 Dividend Yield of 2.44, DSFIR pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.43%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
DSFIR.AS Yearly Dividends per shareDSFIR.AS Yearly Dividends per shareYearly Dividends per share 2024 2025 0.5 1 1.5 2

5.3 Sustainability

DSFIR pays out 286.40% of its income as dividend. This is not a sustainable payout ratio.
DP286.4%
EPS Next 2Y14.04%
EPS Next 3Y13.86%
DSFIR.AS Yearly Income VS Free CF VS DividendDSFIR.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2021 2022 2023 2024 500M 1B 1.5B 2B
DSFIR.AS Dividend Payout.DSFIR.AS Dividend Payout, showing the Payout Ratio.DSFIR.AS Dividend Payout.PayoutRetained Earnings

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DSM-FIRMENICH AG

AMS:DSFIR (10/9/2025, 7:00:00 PM)

74.1

-0.22 (-0.3%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)07-31 2025-07-31
Earnings (Next)10-30 2025-10-30
Inst Owners28.86%
Inst Owner ChangeN/A
Ins Owners9.64%
Ins Owner ChangeN/A
Market Cap19.69B
Analysts80.67
Price Target113.97 (53.81%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.43%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP286.4%
Div Incr Years0
Div Non Decr Years0
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)0
Avg Revenue beat(2)-3.51%
Min Revenue beat(2)-3.56%
Max Revenue beat(2)-3.46%
Revenue beat(4)0
Avg Revenue beat(4)-3.4%
Min Revenue beat(4)-4.12%
Max Revenue beat(4)-2.47%
Revenue beat(8)1
Avg Revenue beat(8)-2.68%
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)-7.21%
PT rev (3m)-10.72%
EPS NQ rev (1m)-6.42%
EPS NQ rev (3m)-3.8%
EPS NY rev (1m)-1.44%
EPS NY rev (3m)-7.81%
Revenue NQ rev (1m)-2.52%
Revenue NQ rev (3m)-3.8%
Revenue NY rev (1m)-0.98%
Revenue NY rev (3m)-2.81%
Valuation
Industry RankSector Rank
PE 78.83
Fwd PE 17.54
P/S 1.54
P/FCF 25.84
P/OCF 12.38
P/B 0.92
P/tB 4.11
EV/EBITDA 11.71
EPS(TTM)0.94
EY1.27%
EPS(NY)4.23
Fwd EY5.7%
FCF(TTM)2.87
FCFY3.87%
OCF(TTM)5.98
OCFY8.08%
SpS48.17
BVpS80.37
TBVpS18.03
PEG (NY)3.44
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.77%
ROE 1.17%
ROCE 1.94%
ROIC 1.27%
ROICexc 1.41%
ROICexgc 3.87%
OM 4.38%
PM (TTM) 1.95%
GM 33.17%
FCFM 5.95%
ROA(3y)5.56%
ROA(5y)N/A
ROE(3y)8.73%
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 3Y-15.02%
OM growth 5YN/A
PM growth 3Y-36.48%
PM growth 5YN/A
GM growth 3Y-3.22%
GM growth 5YN/A
F-Score7
Asset Turnover0.4
Health
Industry RankSector Rank
Debt/Equity 0.24
Debt/FCF 7.12
Debt/EBITDA 2.72
Cap/Depr 61.7%
Cap/Sales 6.47%
Interest Coverage 7.37
Cash Conversion 83.6%
Profit Quality 304.8%
Current Ratio 2.69
Quick Ratio 1.74
Altman-Z N/A
F-Score7
WACC4.17%
ROIC/WACC0.3
Cap/Depr(3y)68.18%
Cap/Depr(5y)N/A
Cap/Sales(3y)6.69%
Cap/Sales(5y)N/A
Profit Quality(3y)150.6%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-89.7%
EPS 3Y-45.42%
EPS 5YN/A
EPS Q2Q%N/A
EPS Next Y22.92%
EPS Next 2Y14.04%
EPS Next 3Y13.86%
EPS Next 5Y13.83%
Revenue 1Y (TTM)20.44%
Revenue growth 3Y3.8%
Revenue growth 5YN/A
Sales Q2Q%0.28%
Revenue Next Year-0.21%
Revenue Next 2Y0.62%
Revenue Next 3Y2.05%
Revenue Next 5Y2.95%
EBIT growth 1Y226.7%
EBIT growth 3Y-11.79%
EBIT growth 5YN/A
EBIT Next Year134.11%
EBIT Next 3Y36.41%
EBIT Next 5Y23.39%
FCF growth 1Y160.07%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y65.8%
OCF growth 3YN/A
OCF growth 5YN/A