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

AMS:DSFIR - Euronext Amsterdam - CH1216478797 - Common Stock - Currency: EUR

89.02  -0.56 (-0.63%)

Fundamental Rating

4

Taking everything into account, DSFIR scores 4 out of 10 in our fundamental rating. DSFIR was compared to 67 industry peers in the Chemicals industry. DSFIR scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. DSFIR is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

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

The Return On Assets of DSFIR (0.74%) is comparable to the rest of the industry.
DSFIR has a Return On Equity (1.11%) which is comparable to the rest of the industry.
DSFIR's Return On Invested Capital of 0.87% is in line compared to the rest of the industry. DSFIR outperforms 41.79% of its industry peers.
Industry RankSector Rank
ROA 0.74%
ROE 1.11%
ROIC 0.87%
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

The Profit Margin of DSFIR (3.83%) is better than 61.19% of its industry peers.
In the last couple of years the Profit Margin of DSFIR has declined.
DSFIR has a Operating Margin (5.95%) which is in line with its industry peers.
In the last couple of years the Operating Margin of DSFIR has declined.
DSFIR's Gross Margin of 65.10% is amongst the best of the industry. DSFIR outperforms 97.01% of its industry peers.
DSFIR's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 5.95%
PM (TTM) 3.83%
GM 65.1%
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.
The number of shares outstanding for DSFIR remains at a similar level compared to 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

An Altman-Z score of 2.10 indicates that DSFIR is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.10, DSFIR is in line with its industry, outperforming 49.25% of the companies in the same industry.
The Debt to FCF ratio of DSFIR is 5.21, which is a neutral value as it means it would take DSFIR, 5.21 years of fcf income to pay off all of its debts.
DSFIR's Debt to FCF ratio of 5.21 is fine compared to the rest of the industry. DSFIR outperforms 73.13% of its industry peers.
DSFIR has a Debt/Equity ratio of 0.20. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of DSFIR (0.20) is better than 74.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 5.21
Altman-Z 2.1
ROIC/WACC0.2
WACC4.37%
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 2.02 indicates that DSFIR has no problem at all paying its short term obligations.
DSFIR has a Current ratio of 2.02. This is in the better half of the industry: DSFIR outperforms 64.18% of its industry peers.
A Quick Ratio of 1.26 indicates that DSFIR should not have too much problems paying its short term obligations.
DSFIR has a better Quick ratio (1.26) than 65.67% of its industry peers.
Industry RankSector Rank
Current Ratio 2.02
Quick Ratio 1.26
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

DSFIR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -89.70%.
The earnings per share for DSFIR have been decreasing by -45.42% on average. This is quite bad
DSFIR shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.44%.
DSFIR shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.80% yearly.
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%N/A

3.2 Future

The Earnings Per Share is expected to grow by 12.01% on average over the next years. This is quite good.
Based on estimates for the next years, DSFIR will show a small growth in Revenue. The Revenue will grow by 3.63% on average per year.
EPS Next Y33.33%
EPS Next 2Y19.8%
EPS Next 3Y17.29%
EPS Next 5Y12.01%
Revenue Next Year2.68%
Revenue Next 2Y3.05%
Revenue Next 3Y3.67%
Revenue Next 5Y3.63%

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 stable.
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 94.70 indicates a quite expensive valuation of DSFIR.
Based on the Price/Earnings ratio, DSFIR is valued a bit more expensive than 62.69% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.52, DSFIR is valued quite expensively.
The Price/Forward Earnings ratio is 20.55, which indicates a rather expensive current valuation of DSFIR.
DSFIR's Price/Forward Earnings ratio is in line with the industry average.
DSFIR is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 35.58, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 94.7
Fwd PE 20.55
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 80

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 68.66% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 23.32
EV/EBITDA 14.47
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.
A more expensive valuation may be justified as DSFIR's earnings are expected to grow with 17.29% in the coming years.
PEG (NY)2.84
PEG (5Y)N/A
EPS Next 2Y19.8%
EPS Next 3Y17.29%

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2

5. Dividend

5.1 Amount

DSFIR has a Yearly Dividend Yield of 2.74%. Purely for dividend investing, there may be better candidates out there.
DSFIR's Dividend Yield is a higher than the industry average which is at 2.99.
Compared to an average S&P500 Dividend Yield of 2.35, DSFIR has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.74%

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

266.80% of the earnings are spent on dividend by DSFIR. This is not a sustainable payout ratio.
DP266.8%
EPS Next 2Y19.8%
EPS Next 3Y17.29%
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 (7/14/2025, 7:00:00 PM)

89.02

-0.56 (-0.63%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)04-30 2025-04-30
Earnings (Next)07-31 2025-07-31
Inst Owners25.14%
Inst Owner ChangeN/A
Ins Owners9.64%
Ins Owner ChangeN/A
Market Cap23.65B
Analysts81.29
Price Target127.65 (43.39%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.74%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP266.8%
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)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)-0.72%
PT rev (3m)-3.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.73%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.88%
Valuation
Industry RankSector Rank
PE 94.7
Fwd PE 20.55
P/S 3.63
P/FCF 23.32
P/OCF 13.3
P/B 1.05
P/tB 5.34
EV/EBITDA 14.47
EPS(TTM)0.94
EY1.06%
EPS(NY)4.33
Fwd EY4.87%
FCF(TTM)3.82
FCFY4.29%
OCF(TTM)6.69
OCFY7.52%
SpS24.54
BVpS84.73
TBVpS16.69
PEG (NY)2.84
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.74%
ROE 1.11%
ROCE 1.32%
ROIC 0.87%
ROICexc 0.95%
ROICexgc 2.96%
OM 5.95%
PM (TTM) 3.83%
GM 65.1%
FCFM 15.55%
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-Score6
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 5.21
Debt/EBITDA 2.44
Cap/Depr 53.43%
Cap/Sales 11.72%
Interest Coverage 5.79
Cash Conversion 97.8%
Profit Quality 405.6%
Current Ratio 2.02
Quick Ratio 1.26
Altman-Z 2.1
F-Score6
WACC4.37%
ROIC/WACC0.2
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 Y33.33%
EPS Next 2Y19.8%
EPS Next 3Y17.29%
EPS Next 5Y12.01%
Revenue 1Y (TTM)20.44%
Revenue growth 3Y3.8%
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year2.68%
Revenue Next 2Y3.05%
Revenue Next 3Y3.67%
Revenue Next 5Y3.63%
EBIT growth 1Y226.7%
EBIT growth 3Y-11.79%
EBIT growth 5YN/A
EBIT Next Year140.16%
EBIT Next 3Y38.54%
EBIT Next 5Y24.19%
FCF growth 1Y74.53%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y40.55%
OCF growth 3YN/A
OCF growth 5YN/A