(DSFIR) DSM-Firmenich - Overview
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: AS (Netherlands) | Market Cap: 17.831m EUR | Total Return: -22.2% in 12m
Avg Turnover: 57.3M
Qual. Beats: -4
Rev. Trend: 18.4%
Qual. Beats: -1
Warnings
Extended 1w
Tailwinds
Supp Ema20
DSM-Firmenich AG (DSFIR) is a Swiss-based specialty chemicals and ingredients company operating across four primary segments: Perfumery & Beauty; Taste, Texture & Health; Health, Nutrition & Care; and Animal Nutrition & Health. The firm utilizes biotechnology and synthetic chemistry to produce flavors, fragrances, nutritional supplements, and animal feed additives for a global market.
The business model relies on high-barrier research and development, often integrating vertically to secure raw materials for complex ingredients like vitamins and carotenoids. In the specialty ingredients sector, companies typically benefit from long-term supply contracts as their products are essential components of final consumer formulations.
The company maintains a significant presence in high-growth areas such as plant-based proteins and precision animal nutrition. You can explore further valuation metrics and peer comparisons for DSFIR on ValueRay.
Founded in 1902 and headquartered in Kaiseraugst, the firm expanded its scale through the recent merger of DSM and Firmenich, consolidating its position in the fragmented global nutrition and beauty markets. The Health, Nutrition & Care segment specifically targets medical and pharmaceutical applications, providing active pharmaceutical ingredients and regulatory expertise.
- Volatility in global vitamin prices directly impacts Animal Nutrition & Health margins
- Synergy realization from DSM and Firmenich merger targets 350 million euro EBITDA uplift
- Consumer demand for natural ingredients drives Perfumery & Beauty organic revenue growth
- High interest rates and input cost inflation pressure specialty chemical manufacturing spreads
- Regulatory shifts in food safety and sustainability influence long-term product development costs
| Net Income: -977.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 1.07 > 1.0 |
| NWC/Revenue: 26.86% < 20% (prev 35.15%; Δ -8.29% < -1%) |
| CFO/TA 0.07 > 3% & CFO 2.05b > Net Income -977.0m |
| Net Debt (3.84b) to EBITDA (4.18b): 0.92 < 3 |
| Current Ratio: 1.59 > 1.5 & < 3 |
| Outstanding Shares: last quarter (260.6m) vs 12m ago -1.35% < -2% |
| Gross Margin: 38.31% > 18% (prev 0.30%; Δ 3.80k% > 0.5%) |
| Asset Turnover: 38.94% > 50% (prev 37.42%; Δ 1.52% > 0%) |
| Interest Coverage Ratio: 6.38 > 6 (EBITDA TTM 4.18b / Interest Expense TTM 166.0m) |
| A: 0.11 (Total Current Assets 8.89b - Total Current Liabilities 5.59b) / Total Assets 29.3b |
| B: 0.29 (Retained Earnings 8.41b / Total Assets 29.3b) |
| C: 0.03 (EBIT TTM 1.06b / Avg Total Assets 31.5b) |
| D: 0.78 (Book Value of Equity 8.52b / Total Liabilities 10.9b) |
| Altman-Z'' = 2.72 = A |
| DSRI: 0.83 (Receivables 2.10b/2.59b, Revenue 12.3b/12.6b) |
| GMI: 0.79 (GM 38.31% / 30.22%) |
| AQI: 0.97 (AQ_t 0.55 / AQ_t-1 0.57) |
| SGI: 0.97 (Revenue 12.3b / 12.6b) |
| TATA: -0.10 (NI -977.0m - CFO 2.05b) / TA 29.3b) |
| Beneish M = -3.50 (Cap -4..+1) = AA |
As of May 24, 2026, the stock is trading at EUR 71.32 with a total of 5,176,831 shares traded.
Over the past week, the price has changed by +8.33%,
over one month by +15.41%,
over three months by +22.86% and
over the past year by -22.24%.
DSM-Firmenich has no consensus analysts rating.
P/E Trailing = 59.2066
P/E Forward = 23.753
P/S = 1.9738
P/B = 0.973
P/EG = 0.7383
Revenue TTM = 12.3b EUR
EBIT TTM = 1.06b EUR
EBITDA TTM = 4.18b EUR
Long Term Debt = 3.23b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.66b EUR (from shortTermDebt, last quarter)
Debt = 5.74b EUR (from shortLongTermDebtTotal, last quarter) + Leases 463.0m
Net Debt = 3.84b EUR (calculated: Debt 5.74b - CCE 1.90b)
Enterprise Value = 21.7b EUR (17.8b + Debt 5.74b - CCE 1.90b)
Interest Coverage Ratio = 6.38 (Ebit TTM 1.06b / Interest Expense TTM 166.0m)
EV/FCF = 19.11x (Enterprise Value 21.7b / FCF TTM 1.13b)
FCF Yield = 5.23% (FCF TTM 1.13b / Enterprise Value 21.7b)
FCF Margin = 9.23% (FCF TTM 1.13b / Revenue TTM 12.3b)
Net Margin = -7.95% (Net Income TTM -977.0m / Revenue TTM 12.3b)
Gross Margin = 38.31% ((Revenue TTM 12.3b - Cost of Revenue TTM 7.58b) / Revenue TTM)
Gross Margin QoQ = 51.35% (prev 36.56%)
Tobins Q-Ratio = 0.74 (Enterprise Value 21.7b / Total Assets 29.3b)
Interest Expense / Debt = 2.89% (Interest Expense 166.0m / Debt 5.74b)
Taxrate = 25.65% (118.0m / 460.0m)
NOPAT = 787.3m (EBIT 1.06b * (1 - 25.65%))
Current Ratio = 1.59 (Total Current Assets 8.89b / Total Current Liabilities 5.59b)
Debt / Equity = 0.31 (Debt 5.74b / totalStockholderEquity, last quarter 18.2b)
Debt / EBITDA = 0.92 (Net Debt 3.84b / EBITDA 4.18b)
Debt / FCF = 3.38 (Net Debt 3.84b / FCF TTM 1.13b)
Total Stockholder Equity = 20.9b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.10% (Net Income -977.0m / Total Assets 29.3b)
RoE = -4.68% (Net Income TTM -977.0m / Total Stockholder Equity 20.9b)
RoCE = 4.39% (EBIT 1.06b / Capital Employed (Equity 20.9b + L.T.Debt 3.23b))
RoIC = 3.11% (NOPAT 787.3m / Invested Capital 25.3b)
WACC = 5.68% (E(17.8b)/V(23.6b) * Re(6.81%) + D(5.74b)/V(23.6b) * Rd(2.89%) * (1-Tc(0.26)))
Discount Rate = 6.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -53.55 | Cagr: 12.34%
[DCF] Terminal Value 77.97% ; FCFF base≈1.06b ; Y1≈1.21b ; Y5≈1.78b
[DCF] Fair Price = 92.46 (EV 26.9b - Net Debt 3.84b = Equity 23.0b / Shares 248.9m; 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: 18.40 | Revenue CAGR: 1.15% | SUE: -4.0 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.89 | Chg30d=-1.49% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.93 | Chg30d=+0.75% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=3.49 | Chg30d=-2.32% | Revisions=+0% | GrowthEPS=-9.9% | GrowthRev=-26.6%
EPS next Year (2027-12-31): EPS=3.96 | Chg30d=-0.97% | Revisions=+0% | GrowthEPS=+13.7% | GrowthRev=+4.7%
[Analyst] Revisions Ratio: -20%