CRBN Stock Analysis: Corbion | AS
Specialty Chemicals | AS, Netherlands | Market Cap: 1.151m EUR | 12M Return: 24.4% | NL0010583399 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.24M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Corbion N.V. (CRBN) is a Netherlands-based specialty ingredients company that produces lactic acid and its derivatives, food preservation solutions, functional ingredient systems, and algae-based nutritional ingredients for customers across the food, feed, personal care, pharmaceutical, and industrial markets. The business is organized into two reporting segments-Functional Ingredients & Solutions and Health & Nutrition-and serves clients globally, including the Netherlands, the United States, Asia, the Americas, Europe, the Middle East, and Africa. Originally established as CSM N.V., the company adopted the Corbion name in October 2013 and has been operating since its founding in 1903, with headquarters in Amsterdam.
Corbions product portfolio spans fermentation-derived ingredients such as antioxidants, antimicrobials, flavors, fortification blends, lactates, and solvents, alongside proprietary algae-based offerings like AlgaPrime DHA (an omega-3 source) and AlgaVia (a lipid ingredient for fat reduction). It also supplies specialized lines for adjacent markets, including PURASORB biodegradable polymers used in medical and pharmaceutical applications, personal care ingredients under brands such as PURAC and PURASAL, and feed additives like LAFEED and CALFEED for livestock and poultry.
The company sits within the specialty chemicals sub-industry of the broader Materials sector, where its business model is anchored in bio-based fermentation technology rather than petrochemical synthesis. Lactic acid functions as a platform molecule that Corbion converts into downstream derivatives for diverse end-markets, with the PURASORB polymer line linking its fermentation expertise to the bioplastics value chain used in medical implants and sustainable packaging.
- AlgaPrime DHA algae omega-3 expands amid volatile fish oil supply
- Functional Ingredients margins pressured by lactic acid commodity costs
- Clean label preservation trend accelerates lactic acid derivative demand
| Net Income: 62.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.79 > 1.0 |
| NWC/Revenue: 23.06% < 20% (prev 7.01%; Δ 16.05% < -1%) |
| CFO/TA 0.10 > 3% & CFO 144.2m > Net Income 62.2m |
| Net Debt (533.3m) to EBITDA (165.9m): 3.21 < 3 |
| Current Ratio: 1.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (58.4m) vs 12m ago -0.50% < -2% |
| Gross Margin: 24.70% > 18% (prev 25.78%; Δ -1.08% > 0.5%) |
| Asset Turnover: 85.16% > 50% (prev 89.21%; Δ -4.05% > 0%) |
| Interest Coverage Ratio: 5.18 > 6 (EBIT TTM 96.4m / Interest Expense TTM 18.6m) |
| A: 0.19 (Total Current Assets 635.1m - Total Current Liabilities 346.2m) / Total Assets 1.49b |
| B: 0.46 (Retained Earnings 681.8m / Total Assets 1.49b) |
| C: 0.07 (EBIT TTM 96.4m / Avg Total Assets 1.47b) |
| D: 1.03 (Book Value of Equity 755.7m / Total Liabilities 733.3m) |
| Altman-Z'' = 4.29 = AA |
| DSRI: 1.36 (Receivables 274.6m/208.4m, Revenue 1.25b/1.30b) |
| GMI: 1.04 (GM 25.78% / 24.70%) |
| AQI: 0.52 (AQ_t 0.08 / AQ_t-1 0.16) |
| SGI: 0.97 (Revenue 1.25b / 1.30b) |
| TATA: -0.06 (NI 62.2m - CFO 144.2m) / TA 1.49b) |
| Beneish M = -3.00 (Cap -4..+1) = AA |
As of August 13, 2026, the stock is trading at EUR 19.69 with a total of 97,317 shares traded. Over the past week, the price has changed by +0.61%, over one month by -3.95%, over three months by +6.75% and over the past year by +24.43%.
Current recommended Stop Loss: 19.10 (which is 3% or 1.2 ATR below the current price).
Corbion has no consensus analysts rating.
P/E Trailing = 18.8396
P/E Forward = 13.5318
P/S = 0.9189
P/B = 1.496
P/EG = 1.2623
Revenue TTM = 1.25b EUR
EBIT TTM = 96.4m EUR
EBITDA TTM = 165.9m EUR
Long Term Debt = 320.2m EUR (from longTermDebt, last quarter)
Short Term Debt = 156.3m EUR (from shortTermDebt, last quarter)
Debt = 569.3m EUR (from shortLongTermDebtTotal, last quarter) + Leases 51.7m
Net Debt = 533.3m EUR (calculated: Debt 569.3m - CCE 36.0m)
Enterprise Value = 1.68b EUR (1.15b + Debt 569.3m - CCE 36.0m)
Interest Coverage Ratio = 5.18 (Ebit TTM 96.4m / Interest Expense TTM 18.6m)
EV/FCF = 22.28x (Enterprise Value 1.68b / FCF TTM 75.6m)
FCF Yield = 4.49% (FCF TTM 75.6m / Enterprise Value 1.68b)
FCF Margin = 6.03% (FCF TTM 75.6m / Revenue TTM 1.25b)
Net Margin = 4.96% (Net Income TTM 62.2m / Revenue TTM 1.25b)
Gross Margin = 24.70% ((Revenue TTM 1.25b - Cost of Revenue TTM 943.4m) / Revenue TTM)
Gross Margin QoQ = 24.45% (prev 24.96%)
Tobins Q-Ratio = 1.13 (Enterprise Value 1.68b / Total Assets 1.49b)
Interest Expense / Debt = 3.27% (Interest Expense 18.6m / Debt 569.3m)
Taxrate = 22.54% (18.1m / 80.3m)
NOPAT = 74.7m (EBIT 96.4m * (1 - 22.54%))
Current Ratio = 1.83 (Total Current Assets 635.1m / Total Current Liabilities 346.2m)
Debt / Equity = 0.75 (Debt 569.3m / totalStockholderEquity, last quarter 755.7m)
Debt / EBITDA = 3.21 (Net Debt 533.3m / EBITDA 165.9m)
Debt / FCF = 7.05 (Net Debt 533.3m / FCF TTM 75.6m)
Total Stockholder Equity = 749.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.23% (Net Income 62.2m / Total Assets 1.49b)
RoE = 8.30% (Net Income TTM 62.2m / Total Stockholder Equity 749.2m)
RoCE = 9.01% (EBIT 96.4m / Capital Employed (Equity 749.2m + L.T.Debt 320.2m))
RoIC = 5.91% (NOPAT 74.7m / Invested Capital 1.26b)
WACC = 5.94% (E(1.15b)/V(1.72b) * Re(7.63%) + D(569.3m)/V(1.72b) * Rd(3.27%) * (1-Tc(0.23)))
Discount Rate = 7.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -86.47 | Cagr: -1.62%
[DCF] Terminal Value 73.10% ; FCFF base≈85.3m ; Y1≈74.8m ; Y5≈60.4m
[DCF] Fair Price = 7.57 (EV 969.9m - Net Debt 533.3m = Equity 436.6m / Shares 57.7m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -90.15 | Revenue CAGR: -4.88% | SUE: 0.97 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=1.32 | Chg30d=-3.06% | Revisions=-50% | GrowthEPS=+0.2% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=1.54 | Chg30d=-1.31% | Revisions=-50% | GrowthEPS=+16.9% | GrowthRev=+3.6%
[Analyst] Revisions Ratio: -67% (up=0, down=6)