DSFIR Stock Analysis: DSM-Firmenich | AS
Specialty Chemicals | AS, Netherlands | Market Cap: 24.002m EUR | 12M Return: 41.9% | CH1216478797 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 62.4M
Warnings
No concerns identified
Tailwinds
Seasonality 3.4 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.
DSM-Firmenich AG is a Swiss-headquartered ingredients company founded in 1902 and based in Kaiseraugst, operating across nutrition, health, and beauty through three segments: Perfumery & Beauty (scents made from natural, synthetic, and biotech ingredients), Taste, Texture & Health (flavors, enzymes, hydrocolloids, cultures, plant-based proteins, and sugar-reduction solutions for food and beverage makers), and Health, Nutrition & Care (vitamins, lipids, carotenoids, probiotics, prebiotics, postbiotics, active pharmaceutical ingredients, and premix/personalized nutrition services for early life, dietary supplement, pharmaceutical, and medical nutrition markets). The company sells its products globally, with operations spanning Switzerland, the Netherlands, the rest of Europe, the Middle East and Africa, North America, Latin America, China, and the rest of Asia.
Unlike consumer-facing branded companies in the personal care space, DSM-Firmenich operates as a business-to-business supplier of specialty ingredients, serving manufacturers in food & beverage, fragrance, dietary supplement, and pharmaceutical end markets. The flavors and fragrances industry in which its Perfumery & Beauty and Taste, Texture & Health segments compete is structurally consolidated, with a small number of global players supplying most multinational consumer-goods customers.
- Perfumery & Beauty margins expand on premium fragrance and biotech ingredient mix
- Vitamin pricing volatility pressures Health, Nutrition & Care profitability
- Sugar reduction regulations boost Taste, Texture & Health demand
| Net Income: -1.08b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.68 > 1.0 |
| NWC/Revenue: 47.20% < 20% (prev 44.52%; Δ 2.68% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.39b > Net Income -1.08b |
| Net Debt (4.92b) to EBITDA (3.79b): 1.30 < 3 |
| Current Ratio: 1.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (250.2m) vs 12m ago -5.05% < -2% |
| Gross Margin: 38.82% > 18% (prev 34.13%; Δ 4.69% > 0.5%) |
| Asset Turnover: 28.79% > 50% (prev 40.26%; Δ -11.47% > 0%) |
| Interest Coverage Ratio: 3.23 > 6 (EBIT TTM 542.0m / Interest Expense TTM 168.0m) |
| A: 0.14 (Total Current Assets 9.98b - Total Current Liabilities 5.71b) / Total Assets 30.4b |
| B: 0.29 (Retained Earnings 8.80b / Total Assets 30.4b) |
| C: 0.02 (EBIT TTM 542.0m / Avg Total Assets 31.4b) |
| D: 1.43 (Book Value of Equity 17.8b / Total Liabilities 12.5b) |
| Altman-Z'' = 3.48 = A |
| DSRI: 1.22 (Receivables 2.35b/2.77b, Revenue 9.03b/13.0b) |
| GMI: 0.88 (GM 34.13% / 38.82%) |
| AQI: 0.98 (AQ_t 0.53 / AQ_t-1 0.54) |
| SGI: 0.69 (Revenue 9.03b / 13.0b) |
| TATA: -0.08 (NI -1.08b - CFO 1.39b) / TA 30.4b) |
| Beneish M = -3.19 (Cap -4..+1) = AA |
As of October 07, 2026, the stock is trading at EUR 99.62 with a total of 592,816 shares traded. Over the past week, the price has changed by +1.63%, over one month by +6.57%, over three months by +19.56% and over the past year by +41.93%.
Current recommended Stop Loss: 97.00 (which is 2.6% or 1.3 ATR below the current price).
DSM-Firmenich has no consensus analysts rating.
P/E Trailing = 70.0143
P/E Forward = 23.0415
P/S = 2.6507
P/B = 1.3154
P/EG = 0.7161
Revenue TTM = 9.03b EUR
EBIT TTM = 542.0m EUR
EBITDA TTM = 3.79b EUR
Long Term Debt = 5.11b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.65b EUR (from shortTermDebt, last quarter)
Debt = 7.23b EUR (from shortLongTermDebtTotal, last quarter) + Leases 463.0m
Net Debt = 4.92b EUR (calculated: Debt 7.23b - CCE 2.31b)
Enterprise Value = 28.9b EUR (24.0b + Debt 7.23b - CCE 2.31b)
Interest Coverage Ratio = 3.23 (Ebit TTM 542.0m / Interest Expense TTM 168.0m)
EV/FCF = 46.35x (Enterprise Value 28.9b / FCF TTM 624.0m)
FCF Yield = 2.16% (FCF TTM 624.0m / Enterprise Value 28.9b)
FCF Margin = 6.91% (FCF TTM 624.0m / Revenue TTM 9.03b)
Net Margin = -11.97% (Net Income TTM -1.08b / Revenue TTM 9.03b)
Gross Margin = 38.82% ((Revenue TTM 9.03b - Cost of Revenue TTM 5.53b) / Revenue TTM)
Gross Margin QoQ = 40.95% (prev 40.01%)
Tobins Q-Ratio = 0.95 (Enterprise Value 28.9b / Total Assets 30.4b)
Interest Expense / Debt = 2.32% (Interest Expense 168.0m / Debt 7.23b)
Taxrate = 21.88% (63.0m / 288.0m)
NOPAT = 423.4m (EBIT 542.0m * (1 - 21.88%))
Current Ratio = 1.75 (Total Current Assets 9.98b / Total Current Liabilities 5.71b)
Debt / Equity = 0.41 (Debt 7.23b / totalStockholderEquity, last quarter 17.8b)
Debt / EBITDA = 1.30 (Net Debt 4.92b / EBITDA 3.79b)
Debt / FCF = 7.88 (Net Debt 4.92b / FCF TTM 624.0m)
Total Stockholder Equity = 18.0b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.44% (Net Income -1.08b / Total Assets 30.4b)
RoE = -5.99% (Net Income TTM -1.08b / Total Stockholder Equity 18.0b)
RoCE = 2.34% (EBIT 542.0m / Capital Employed (Equity 18.0b + L.T.Debt 5.11b))
RoIC = 1.63% (NOPAT 423.4m / Invested Capital 25.9b)
WACC = 6.25% (E(24.0b)/V(31.2b) * Re(7.58%) + D(7.23b)/V(31.2b) * Rd(2.32%) * (1-Tc(0.22)))
Discount Rate = 7.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -82.55 | Cagr: -2.65%
[DCF] Terminal Value 73.10% ; FCFF base≈726.8m ; Y1≈637.4m ; Y5≈515.0m
[DCF] Fair Price = 13.66 (EV 8.27b - Net Debt 4.92b = Equity 3.35b / Shares 244.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -4.0 | # QB: -4
Revenue Correlation: 15.23 | Revenue CAGR: 1.05% | SUE: 1.16 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.89 | Chg30d=+0.00% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.97 | Chg30d=-1.54% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=3.61 | Chg30d=-0.17% | Revisions=+77% | GrowthEPS=-6.8% | GrowthRev=-25.7%
EPS next Year (2027-12-31): EPS=4.11 | Chg30d=+0.48% | Revisions=+77% | GrowthEPS=+14.0% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: +80% (up=21, down=1)