(NSIS-B) Novonesis (Novozymes) - CO
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: CO (Denmark) | Market Cap: 179.078m DKK | Total Return: -16.6% in 12m
Avg Turnover: 241M
EPS Trend: -28.0%
Qual. Beats: 0
Rev. Trend: -76.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Confidence
Novonesis (NSIS-B), formerly Novozymes, is a global biotechnology firm headquartered in Denmark that specializes in the production of industrial enzymes, microorganisms, and functional proteins. The company operates across diverse end-markets, including food and beverage, bioenergy, human health, agriculture, and household care. Its product portfolio focuses on biological alternatives to traditional chemical processes, such as enzymatic solutions for grain processing, carbon capture, and renewable fuel production.
As a leader in the specialty chemicals sub-industry, the company utilizes a research-intensive business model where high barriers to entry are maintained through proprietary microbial strains and extensive patent portfolios. Industrial enzymes serve as biological catalysts that increase the efficiency of industrial reactions, often reducing the consumption of energy, water, and raw materials compared to conventional synthetic methods.
- Synergies from Chr. Hansen merger drive margin expansion and revenue growth
- Bioenergy segment revenue scales with global sustainable aviation fuel demand
- Food and beverage biosolutions demand fluctuates with consumer discretionary spending
- Agricultural biologicals growth depends on seasonal planting cycles and regulatory approvals
| Net Income: 596.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -14.24 > 1.0 |
| NWC/Revenue: 19.60% < 20% (prev 4.47%; Δ 15.13% < -1%) |
| CFO/TA 0.08 > 3% & CFO 1.28b > Net Income 596.9m |
| Net Debt (3.25b) to EBITDA (1.45b): 2.24 < 3 |
| Current Ratio: 1.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (466.2m) vs 12m ago -0.40% < -2% |
| Gross Margin: 54.33% > 18% (prev 52.20%; Δ 2.13% > 0.5%) |
| Asset Turnover: 26.60% > 50% (prev 115.4%; Δ -88.77% > 0%) |
| Interest Coverage Ratio: 12.53 > 6 (EBIT TTM 875.7m / Interest Expense TTM 69.9m) |
| A: 0.05 (Total Current Assets 2.05b - Total Current Liabilities 1.22b) / Total Assets 16.5b |
| B: 0.67 (Retained Earnings 11.1b / Total Assets 16.5b) |
| C: 0.06 (EBIT TTM 875.7m / Avg Total Assets 15.8b) |
| D: 1.95 (Book Value of Equity 10.9b / Total Liabilities 5.60b) |
| Altman-Z'' = 4.93 = AAA |
| DSRI: 3.0 (Receivables 923.6m/877.7m, Revenue 4.20b/17.4b) |
| GMI: 0.96 (GM 52.20% / 54.33%) |
| AQI: 1.02 (AQ_t 0.69 / AQ_t-1 0.68) |
| SGI: 0.24 (Revenue 4.20b / 17.4b) |
| TATA: -0.04 (NI 596.9m - CFO 1.28b) / TA 16.5b) |
| Beneish M = -1.95 (Cap -4..+1) = B |
As of June 20, 2026, the stock is trading at DKK 394.20 with a total of 1,190,321 shares traded.
Over the past week, the price has changed by +0.44%,
over one month by +4.89%,
over three months by +12.28% and
over the past year by -16.55%.
Novonesis (Novozymes) has no consensus analysts rating.
Market Cap EUR = 24.0b (179b DKK * 0.1338 DKK.EUR)
P/E Trailing = 40.094
P/E Forward = 24.9377
P/S = 42.6448
P/B = 2.1707
P/EG = 1.9781
Revenue TTM = 4.20b EUR
EBIT TTM = 875.7m EUR
EBITDA TTM = 1.45b EUR
Long Term Debt = 2.92b EUR (from longTermDebt, last quarter)
Short Term Debt = 289.1m EUR (from shortTermDebt, last quarter)
Debt = 3.58b EUR (from shortLongTermDebtTotal, last quarter) + Leases 369.0m
Net Debt = 3.25b EUR (calculated: Debt 3.58b - CCE 329.4m)
Enterprise Value = 27.2b EUR (24.0b + Debt 3.58b - CCE 329.4m)
Interest Coverage Ratio = 12.53 (Ebit TTM 875.7m / Interest Expense TTM 69.9m)
EV/FCF = 34.07x (Enterprise Value 27.2b / FCF TTM 798.7m)
FCF Yield = 2.94% (FCF TTM 798.7m / Enterprise Value 27.2b)
FCF Margin = 19.01% (FCF TTM 798.7m / Revenue TTM 4.20b)
Net Margin = 14.21% (Net Income TTM 596.9m / Revenue TTM 4.20b)
Gross Margin = 54.33% ((Revenue TTM 4.20b - Cost of Revenue TTM 1.92b) / Revenue TTM)
Gross Margin QoQ = 56.66% (prev 56.07%)
Tobins Q-Ratio = 1.65 (Enterprise Value 27.2b / Total Assets 16.5b)
Interest Expense / Debt = 1.95% (Interest Expense 69.9m / Debt 3.58b)
Taxrate = 21.03% (159.0m / 755.9m)
NOPAT = 691.5m (EBIT 875.7m * (1 - 21.03%))
Current Ratio = 1.67 (Total Current Assets 2.05b / Total Current Liabilities 1.22b)
Debt / Equity = 0.33 (Debt 3.58b / totalStockholderEquity, last quarter 10.9b)
Debt / EBITDA = 2.24 (Net Debt 3.25b / EBITDA 1.45b)
Debt / FCF = 4.07 (Net Debt 3.25b / FCF TTM 798.7m)
Total Stockholder Equity = 10.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.78% (Net Income 596.9m / Total Assets 16.5b)
RoE = 5.52% (Net Income TTM 596.9m / Total Stockholder Equity 10.8b)
RoCE = 6.37% (EBIT 875.7m / Capital Employed (Equity 10.8b + L.T.Debt 2.92b))
RoIC = 4.50% (NOPAT 691.5m / Invested Capital 15.4b)
WACC = 5.47% (E(24.0b)/V(27.5b) * Re(6.06%) + D(3.58b)/V(27.5b) * Rd(1.95%) * (1-Tc(0.21)))
Discount Rate = 6.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 62.86 | Cagr: 25.75%
[DCF] Terminal Value 73.10% ; FCFF base≈1.63b ; Y1≈1.43b ; Y5≈1.15b
[DCF] Fair Price = 37.01 (EV 18.5b - Net Debt 3.25b = Equity 15.3b / Shares 412.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -28.03 | EPS CAGR: -5.94% | SUE: 0.06 | # QB: 0
Revenue Correlation: -76.35 | Revenue CAGR: -43.89% | SUE: -0.65 | # QB: 0
EPS current Quarter (2026-06-30): EPS=5.69 | Chg30d=+40.97% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=5.72 | Chg30d=+35.62% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=15.94 | Chg30d=+0.83% | Revisions=+73% | GrowthEPS=+7.2% | GrowthRev=+6.5%
EPS next Year (2027-12-31): EPS=17.47 | Chg30d=+0.37% | Revisions=+33% | GrowthEPS=+9.6% | GrowthRev=+7.2%
[Analyst] Revisions Ratio: +73%