Koninklijke DSM NV (DSM.AS) Fundamental Analysis & Valuation

AMS:DSM • NL0000009827

Current stock price

114.05 EUR
+0.15 (+0.13%)
Last:

This DSM.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. DSM.AS Profitability Analysis

1.1 Basic Checks

  • DSM had positive earnings in the past year.
  • In the past year DSM had a positive cash flow from operations.
DSM.AS Yearly Net Income VS EBIT VS OCF VS FCFDSM.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B

1.2 Ratios

  • DSM has a Return On Assets of 9.73%. This is in the better half of the industry: DSM outperforms 76.19% of its industry peers.
  • With a decent Return On Equity value of 15.77%, DSM is doing good in the industry, outperforming 66.67% of the companies in the same industry.
  • With a Return On Invested Capital value of 3.55%, DSM perfoms like the industry average, outperforming 41.27% of the companies in the same industry.
  • DSM had an Average Return On Invested Capital over the past 3 years of 4.18%. This is below the industry average of 7.05%.
Industry RankSector Rank
ROA 9.73%
ROE 15.77%
ROIC 3.55%
ROA(3y)7.88%
ROA(5y)7.41%
ROE(3y)13.48%
ROE(5y)12.77%
ROIC(3y)4.18%
ROIC(5y)5.44%
DSM.AS Yearly ROA, ROE, ROICDSM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 5 10 15 20 25

1.3 Margins

  • DSM's Profit Margin of 20.19% is amongst the best of the industry. DSM outperforms 93.65% of its industry peers.
  • In the last couple of years the Profit Margin of DSM has remained more or less at the same level.
  • Looking at the Operating Margin, with a value of 7.90%, DSM is in line with its industry, outperforming 58.73% of the companies in the same industry.
  • DSM's Operating Margin has declined in the last couple of years.
  • With a Gross Margin value of 32.06%, DSM perfoms like the industry average, outperforming 50.79% of the companies in the same industry.
  • In the last couple of years the Gross Margin of DSM has remained more or less at the same level.
Industry RankSector Rank
OM 7.9%
PM (TTM) 20.19%
GM 32.06%
OM growth 3Y-8.97%
OM growth 5Y-4.86%
PM growth 3Y29.13%
PM growth 5Y-0.21%
GM growth 3Y-2.47%
GM growth 5Y-1.41%
DSM.AS Yearly Profit, Operating, Gross MarginsDSM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 10 20 30

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. DSM.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), DSM is creating some value.
  • Compared to 1 year ago, DSM has about the same amount of shares outstanding.
  • The debt/assets ratio for DSM has been reduced compared to a year ago.
DSM.AS Yearly Shares OutstandingDSM.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 50M 100M 150M
DSM.AS Yearly Total Debt VS Total AssetsDSM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 5B 10B 15B

2.2 Solvency

  • An Altman-Z score of 1.83 indicates that DSM is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • The Altman-Z score of DSM (1.83) is worse than 68.25% of its industry peers.
  • The Debt to FCF ratio of DSM is 9.76, which is on the high side as it means it would take DSM, 9.76 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 9.76, DSM is in the better half of the industry, outperforming 63.49% of the companies in the same industry.
  • A Debt/Equity ratio of 0.28 indicates that DSM is not too dependend on debt financing.
  • DSM has a Debt to Equity ratio of 0.28. This is comparable to the rest of the industry: DSM outperforms 57.14% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 9.76
Altman-Z 1.83
ROIC/WACC1.05
WACC3.37%
DSM.AS Yearly LT Debt VS Equity VS FCFDSM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 3.15 indicates that DSM has no problem at all paying its short term obligations.
  • With an excellent Current ratio value of 3.15, DSM belongs to the best of the industry, outperforming 80.95% of the companies in the same industry.
  • A Quick Ratio of 2.24 indicates that DSM has no problem at all paying its short term obligations.
  • The Quick ratio of DSM (2.24) is better than 84.13% of its industry peers.
Industry RankSector Rank
Current Ratio 3.15
Quick Ratio 2.24
DSM.AS Yearly Current Assets VS Current LiabilitesDSM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2B 4B 6B 8B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. DSM.AS Growth Analysis

3.1 Past

  • DSM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.34%.
  • Measured over the past years, DSM shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.46% on average per year.
  • DSM shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.42%.
  • DSM shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.57% yearly.
EPS 1Y (TTM)1.34%
EPS 3Y32.22%
EPS 5Y-0.46%
EPS Q2Q%86.75%
Revenue 1Y (TTM)15.42%
Revenue growth 3Y1.61%
Revenue growth 5Y-0.57%
Sales Q2Q%13.94%

3.2 Future

  • Based on estimates for the next years, DSM will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.32% on average per year.
  • Based on estimates for the next years, DSM will show a small growth in Revenue. The Revenue will grow by 3.55% on average per year.
EPS Next Y-17.84%
EPS Next 2Y-0.19%
EPS Next 3Y4.44%
EPS Next 5Y8.32%
Revenue Next Year9.64%
Revenue Next 2Y8.55%
Revenue Next 3Y7.11%
Revenue Next 5Y3.55%

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.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
DSM.AS Yearly Revenue VS EstimatesDSM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
DSM.AS Yearly EPS VS EstimatesDSM.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

More info and screens

Find the best growth stocksShow best growing peers

4

4. DSM.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 11.64, the valuation of DSM can be described as reasonable.
  • DSM's Price/Earnings ratio is a bit cheaper when compared to the industry. DSM is cheaper than 61.90% of the companies in the same industry.
  • DSM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.51.
  • The Price/Forward Earnings ratio is 33.15, which means the current valuation is very expensive for DSM.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of DSM indicates a slightly more expensive valuation: DSM is more expensive than 65.08% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 21.41, DSM is valued quite expensively.
Industry RankSector Rank
PE 11.64
Fwd PE 33.15
DSM.AS Price Earnings VS Forward Price EarningsDSM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 100.00% of the companies in the same industry are more expensive than DSM, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, DSM is valued cheaply inside the industry as 98.41% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 1.81
EV/EBITDA 0.46
DSM.AS Per share dataDSM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 500 1K 1.5K 2K

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-0.19%
EPS Next 3Y4.44%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. DSM.AS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.31%, DSM has a reasonable but not impressive dividend return.
  • DSM's Dividend Yield is a higher than the industry average which is at 3.23.
  • DSM's Dividend Yield is a higher than the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 2.31%

5.2 History

  • On average, the dividend of DSM grows each year by 11.78%, which is quite nice.
Dividend Growth(5Y)11.78%
Div Incr Years0
Div Non Decr Years0
DSM.AS Yearly Dividends per shareDSM.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 20.37% of the earnings are spent on dividend by DSM. This is a low number and sustainable payout ratio.
  • The dividend of DSM is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP20.37%
EPS Next 2Y-0.19%
EPS Next 3Y4.44%
DSM.AS Yearly Income VS Free CF VS DividendDSM.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B
DSM.AS Dividend Payout.DSM.AS Dividend Payout, showing the Payout Ratio.DSM.AS Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

DSM.AS Fundamentals: All Metrics, Ratios and Statistics

Koninklijke DSM NV

AMS:DSM (5/30/2023, 7:00:00 PM)

114.05

+0.15 (+0.13%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Industry Strength53.38
Industry Growth42
Earnings (Last)N/A
Earnings (Next)N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap568.64M
Revenue(TTM)8.39B
Net Income(TTM)1.69B
Analysts77.5
Price Target151.14 (32.52%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.31%
Yearly Dividend1.99
Dividend Growth(5Y)11.78%
DP20.37%
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)1
Avg Revenue beat(2)97.46%
Min Revenue beat(2)97.46%
Max Revenue beat(2)97.46%
Revenue beat(4)2
Avg Revenue beat(4)82.78%
Min Revenue beat(4)68.1%
Max Revenue beat(4)97.46%
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)-0.38%
PT rev (3m)-4.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-16.28%
EPS NY rev (1m)0%
EPS NY rev (3m)-10.83%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.2%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.4%
Valuation
Industry RankSector Rank
PE 11.64
Fwd PE 33.15
P/S 0.07
P/FCF 1.81
P/OCF 0.59
P/B 0.05
P/tB 0.1
EV/EBITDA 0.46
EPS(TTM)9.8
EY8.59%
EPS(NY)3.44
Fwd EY3.02%
FCF(TTM)62.98
FCFY55.22%
OCF(TTM)193.55
OCFY169.7%
SpS1682.76
BVpS2154.7
TBVpS1122.38
PEG (NY)N/A
PEG (5Y)N/A
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA 9.73%
ROE 15.77%
ROCE N/A
ROIC 3.55%
ROICexc 4.4%
ROICexgc 7.72%
OM 7.9%
PM (TTM) 20.19%
GM 32.06%
FCFM N/A
ROA(3y)7.88%
ROA(5y)7.41%
ROE(3y)13.48%
ROE(5y)12.77%
ROIC(3y)4.18%
ROIC(5y)5.44%
ROICexc(3y)4.84%
ROICexc(5y)6.53%
ROICexgc(3y)8.47%
ROICexgc(5y)10.73%
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3Y-9.43%
ROICexgc growth 5Y-8.64%
ROICexc growth 3Y-13.12%
ROICexc growth 5Y-11.06%
OM growth 3Y-8.97%
OM growth 5Y-4.86%
PM growth 3Y29.13%
PM growth 5Y-0.21%
GM growth 3Y-2.47%
GM growth 5Y-1.41%
F-Score6
Asset Turnover0.48
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 9.76
Debt/EBITDA 2.33
Cap/Depr 99.85%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 18.54%
Current Ratio 3.15
Quick Ratio 2.24
Altman-Z 1.83
F-Score6
WACC3.37%
ROIC/WACC1.05
Cap/Depr(3y)89.72%
Cap/Depr(5y)101.35%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)81.13%
Profit Quality(5y)81.58%
High Growth Momentum
Growth
EPS 1Y (TTM)1.34%
EPS 3Y32.22%
EPS 5Y-0.46%
EPS Q2Q%86.75%
EPS Next Y-17.84%
EPS Next 2Y-0.19%
EPS Next 3Y4.44%
EPS Next 5Y8.32%
Revenue 1Y (TTM)15.42%
Revenue growth 3Y1.61%
Revenue growth 5Y-0.57%
Sales Q2Q%13.94%
Revenue Next Year9.64%
Revenue Next 2Y8.55%
Revenue Next 3Y7.11%
Revenue Next 5Y3.55%
EBIT growth 1Y-8.43%
EBIT growth 3Y-7.51%
EBIT growth 5Y-5.4%
EBIT Next Year75.39%
EBIT Next 3Y31.75%
EBIT Next 5Y18.88%
FCF growth 1Y-63.06%
FCF growth 3Y-24.99%
FCF growth 5Y-6.57%
OCF growth 1Y-32.38%
OCF growth 3Y-11.35%
OCF growth 5Y-0.63%

Koninklijke DSM NV / DSM.AS Fundamental Analysis FAQ

What is the ChartMill fundamental rating of Koninklijke DSM NV (DSM.AS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to DSM.AS.


What is the valuation status of Koninklijke DSM NV (DSM.AS) stock?

ChartMill assigns a valuation rating of 5 / 10 to Koninklijke DSM NV (DSM.AS). This can be considered as Fairly Valued.


What is the profitability of DSM stock?

Koninklijke DSM NV (DSM.AS) has a profitability rating of 5 / 10.


Can you provide the expected EPS growth for DSM stock?

The Earnings per Share (EPS) of Koninklijke DSM NV (DSM.AS) is expected to decline by -17.84% in the next year.


How sustainable is the dividend of Koninklijke DSM NV (DSM.AS) stock?

The dividend rating of Koninklijke DSM NV (DSM.AS) is 5 / 10 and the dividend payout ratio is 20.37%.