AZE Stock Analysis: Azelis | BR
Specialty Chemicals | BR, Belgium | Market Cap: 2.942m EUR | 12M Return: 5.8% | BE0974400328 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.20M
Rev. Trend: 81.2%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 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.
Azelis Group NV is a Belgium-based distributor of specialty chemicals and food ingredients, serving a broad range of end markets including personal care, home care, pharmaceuticals, food and nutrition, animal nutrition, flavours and fragrances, and nutraceuticals, as well as industrial segments such as CASE, lubricants, electronics, and textiles. The company operates across Europe, the Middle East and Africa, the Americas, and Asia-Pacific, and was founded in 1996 with headquarters in Antwerp. As a specialty chemicals distributor (GICS Materials / Specialty Chemicals), Azelis operates a B2B distribution model that combines sourcing of products from manufacturers with value-added services such as formulation support and technical guidance for customers.
- M&A acquisitions accelerate Asia-Pacific specialty ingredients expansion
- Life sciences segment margins expand on premium product mix
- Industrial chemicals volumes track European manufacturing demand cycle
| Net Income: 112.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 1.69 > 1.0 |
| NWC/Revenue: 18.51% < 20% (prev 21.91%; Δ -3.40% < -1%) |
| CFO/TA 0.05 > 3% & CFO 284.2m > Net Income 112.8m |
| Net Debt (1.76b) to EBITDA (419.9m): 4.19 < 3 |
| Current Ratio: 1.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (243.5m) vs 12m ago -0.04% < -2% |
| Gross Margin: 12.17% > 18% (prev 24.24%; Δ -12.07% > 0.5%) |
| Asset Turnover: 72.33% > 50% (prev 55.96%; Δ 16.37% > 0%) |
| Interest Coverage Ratio: 2.29 > 6 (EBIT TTM 288.8m / Interest Expense TTM 126.1m) |
| A: 0.13 (Total Current Assets 1.64b - Total Current Liabilities 875.0m) / Total Assets 5.72b |
| B: 0.19 (Retained Earnings 1.07b / Total Assets 5.72b) |
| C: 0.05 (EBIT TTM 288.8m / Avg Total Assets 5.69b) |
| D: 0.99 (Book Value of Equity 2.83b / Total Liabilities 2.87b) |
| Altman-Z'' = 2.86 = A |
| DSRI: 1.02 (Receivables 708.7m/534.0m, Revenue 4.12b/3.17b) |
| GMI: 1.99 (GM 24.24% / 12.17%) |
| AQI: 1.02 (AQ_t 0.67 / AQ_t-1 0.66) |
| SGI: 1.30 (Revenue 4.12b / 3.17b) |
| TATA: -0.03 (NI 112.8m - CFO 284.2m) / TA 5.72b) |
| Beneish M = -1.89 (Cap -4..+1) = B |
As of October 07, 2026, the stock is trading at EUR 12.10 with a total of 204,710 shares traded. Over the past week, the price has changed by +0.58%, over one month by +0.83%, over three months by +21.06% and over the past year by +5.83%.
Current recommended Stop Loss: 11.60 (which is 4.1% or 1.4 ATR below the current price).
Azelis has no consensus analysts rating.
P/E Trailing = 25.7234
P/E Forward = 14.5985
P/S = 0.7146
P/B = 0.9912
Revenue TTM = 4.12b EUR
EBIT TTM = 288.8m EUR
EBITDA TTM = 419.9m EUR
Long Term Debt = 1.60b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 97.2m EUR (from shortTermDebt, last quarter)
Debt = 2.01b EUR (from shortLongTermDebtTotal, last quarter) + Leases 162.5m
Net Debt = 1.76b EUR (calculated: Debt 2.01b - CCE 245.3m)
Enterprise Value = 4.70b EUR (2.94b + Debt 2.01b - CCE 245.3m)
Interest Coverage Ratio = 2.29 (Ebit TTM 288.8m / Interest Expense TTM 126.1m)
EV/FCF = 17.22x (Enterprise Value 4.70b / FCF TTM 273.2m)
FCF Yield = 5.81% (FCF TTM 273.2m / Enterprise Value 4.70b)
FCF Margin = 6.63% (FCF TTM 273.2m / Revenue TTM 4.12b)
Net Margin = 2.74% (Net Income TTM 112.8m / Revenue TTM 4.12b)
Gross Margin = 12.17% ((Revenue TTM 4.12b - Cost of Revenue TTM 3.62b) / Revenue TTM)
Gross Margin QoQ = 13.13% (prev 11.11%)
Tobins Q-Ratio = 0.82 (Enterprise Value 4.70b / Total Assets 5.72b)
Interest Expense / Debt = 6.29% (Interest Expense 126.1m / Debt 2.01b)
Taxrate = 35.27% (62.1m / 176.0m)
NOPAT = 187.0m (EBIT 288.8m * (1 - 35.27%))
Current Ratio = 1.87 (Total Current Assets 1.64b / Total Current Liabilities 875.0m)
Debt / Equity = 0.71 (Debt 2.01b / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 4.19 (Net Debt 1.76b / EBITDA 419.9m)
Debt / FCF = 6.45 (Net Debt 1.76b / FCF TTM 273.2m)
Total Stockholder Equity = 2.76b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.98% (Net Income 112.8m / Total Assets 5.72b)
RoE = 4.08% (Net Income TTM 112.8m / Total Stockholder Equity 2.76b)
RoCE = 6.61% (EBIT 288.8m / Capital Employed (Equity 2.76b + L.T.Debt 1.60b))
RoIC = 3.95% (NOPAT 187.0m / Invested Capital 4.73b)
WACC = 5.99% (E(2.94b)/V(4.95b) * Re(7.30%) + D(2.01b)/V(4.95b) * Rd(6.29%) * (1-Tc(0.35)))
Discount Rate = 7.30% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 28.84 | Cagr: 1.40%
[DCF] Terminal Value 77.97% ; FCFF base≈234.0m ; Y1≈268.3m ; Y5≈394.8m
[DCF] Fair Price = 17.18 (EV 5.94b - Net Debt 1.76b = Equity 4.18b / Shares 243.4m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 81.22 | Revenue CAGR: 7.64% | SUE: 1.86 | # QB: 1
EPS current Quarter (2026-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=0.78 | Chg30d=+1.69% | Revisions=+42% | GrowthEPS=+68.5% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=0.83 | Chg30d=+0.74% | Revisions=+46% | GrowthEPS=+6.6% | GrowthRev=+3.6%
[Analyst] Revisions Ratio: +50% (up=15, down=4)