VIS Stock Analysis: Viscofan | MC
Packaging & Containers | MC, Spain | Market Cap: 2.445m EUR | 12M Return: -3.7% | ES0184262212 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.53M
EPS Trend: 27.8%
Rev. Trend: 51.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
Viscofan, S.A. is a Spain-based global manufacturer of casings used primarily by the processed meat industry. Founded in 1975 and headquartered in Tajonar, the company produces and distributes a diversified range of products including cellulose, collagen, fibrous, plastic, and specialized functional solutions (such as nutra-pharma and medical casings), operating across Europe, the Americas, the Middle East, Africa, and Asia-Pacific. It also markets proprietary brands like TITANIUM LINE (fibrous casings) and Total Control Net (collagen film covers).
Viscofan holds a leading position in the global casings market and benefits from its vertically integrated production model, supplying both food processors and non-food sectors such as nutraceuticals. Demand for its products is closely linked to worldwide consumption of processed and pre-cooked meat products.
- Cellulose casings segment drives pricing power and margin expansion
- Plant-based veggie casings gain traction across European and US markets
- FX volatility and raw material costs pressure operating margins
- Competition from Asian casing producers pressures market share
| Net Income: 161.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -4.12 > 1.0 |
| NWC/Revenue: 31.27% < 20% (prev 31.98%; Δ -0.70% < -1%) |
| CFO/TA 0.12 > 3% & CFO 188.4m > Net Income 161.5m |
| Net Debt (306.3m) to EBITDA (275.7m): 1.11 < 3 |
| Current Ratio: 1.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (45.6m) vs 12m ago 1.16% < -2% |
| Gross Margin: 36.31% > 18% (prev 68.75%; Δ -32.44% > 0.5%) |
| Asset Turnover: 85.17% > 50% (prev 85.51%; Δ -0.35% > 0%) |
| Interest Coverage Ratio: 17.56 > 6 (EBIT TTM 191.1m / Interest Expense TTM 10.9m) |
| A: 0.26 (Total Current Assets 862.4m - Total Current Liabilities 467.5m) / Total Assets 1.53b |
| B: 0.05 (Retained Earnings 71.3m / Total Assets 1.53b) |
| C: 0.13 (EBIT TTM 191.1m / Avg Total Assets 1.48b) |
| D: 1.50 (Book Value of Equity 911.3m / Total Liabilities 607.0m) |
| Altman-Z'' = 4.29 = AA |
| DSRI: 1.05 (Receivables 366.7m/339.8m, Revenue 1.26b/1.23b) |
| GMI: 1.89 (GM 68.75% / 36.31%) |
| AQI: 1.19 (AQ_t 0.07 / AQ_t-1 0.06) |
| SGI: 1.03 (Revenue 1.26b / 1.23b) |
| TATA: -0.02 (NI 161.5m - CFO 188.4m) / TA 1.53b) |
| Beneish M = -2.05 (Cap -4..+1) = BB |
As of October 12, 2026, the stock is trading at EUR 53.60 with a total of 52,486 shares traded. Over the past week, the price has changed by +0.94%, over one month by -4.63%, over three months by -5.96% and over the past year by -3.68%.
Current recommended Stop Loss: 52.60 (which is 1.9% or 1.3 ATR below the current price).
Viscofan has no consensus analysts rating.
P/E Trailing = 15.2542
P/E Forward = 17.7305
P/S = 1.9356
P/B = 2.6978
P/EG = 2.1567
Revenue TTM = 1.26b EUR
EBIT TTM = 191.1m EUR
EBITDA TTM = 275.7m EUR
Long Term Debt = 68.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 284.6m EUR (from shortTermDebt, last quarter)
Debt = 364.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 12.2m
Net Debt = 306.3m EUR (calculated: Debt 364.9m - CCE 58.5m)
Enterprise Value = 2.75b EUR (2.44b + Debt 364.9m - CCE 58.5m)
Interest Coverage Ratio = 17.56 (Ebit TTM 191.1m / Interest Expense TTM 10.9m)
EV/FCF = 25.47x (Enterprise Value 2.75b / FCF TTM 108.0m)
FCF Yield = 3.93% (FCF TTM 108.0m / Enterprise Value 2.75b)
FCF Margin = 8.55% (FCF TTM 108.0m / Revenue TTM 1.26b)
Net Margin = 12.79% (Net Income TTM 161.5m / Revenue TTM 1.26b)
Gross Margin = 36.31% ((Revenue TTM 1.26b - Cost of Revenue TTM 804.4m) / Revenue TTM)
Gross Margin QoQ = 36.91% (prev 36.84%)
Tobins Q-Ratio = 1.80 (Enterprise Value 2.75b / Total Assets 1.53b)
Interest Expense / Debt = 2.98% (Interest Expense 10.9m / Debt 364.9m)
Taxrate = 12.74% (23.3m / 183.1m)
NOPAT = 166.8m (EBIT 191.1m * (1 - 12.74%))
Current Ratio = 1.84 (Total Current Assets 862.4m / Total Current Liabilities 467.5m)
Debt / Equity = 0.40 (Debt 364.9m / totalStockholderEquity, last quarter 911.3m)
Debt / EBITDA = 1.11 (Net Debt 306.3m / EBITDA 275.7m)
Debt / FCF = 2.84 (Net Debt 306.3m / FCF TTM 108.0m)
Total Stockholder Equity = 930.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.89% (Net Income 161.5m / Total Assets 1.53b)
RoE = 17.35% (Net Income TTM 161.5m / Total Stockholder Equity 930.5m)
RoCE = 19.14% (EBIT 191.1m / Capital Employed (Equity 930.5m + L.T.Debt 68.0m))
RoIC = 12.96% (NOPAT 166.8m / Invested Capital 1.29b)
WACC = 4.91% (E(2.44b)/V(2.81b) * Re(5.26%) + D(364.9m)/V(2.81b) * Rd(2.98%) * (1-Tc(0.13)))
Discount Rate = 5.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 32.52 | Cagr: 0.11%
[DCF] Terminal Value 73.10% ; FCFF base≈129.1m ; Y1≈113.2m ; Y5≈91.5m
[DCF] Fair Price = 25.67 (EV 1.47b - Net Debt 306.3m = Equity 1.16b / Shares 45.3m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 27.84 | EPS CAGR: 2.29% | SUE: N/A | # QB: 0
Revenue Correlation: 51.71 | Revenue CAGR: 1.15% | SUE: 0.34 | # QB: 0
EPS current Year (2026-12-31): EPS=3.45 | Chg30d=-0.42% | Revisions=-40% | GrowthEPS=-1.9% | GrowthRev=+5.8%
EPS next Year (2027-12-31): EPS=3.82 | Chg30d=-0.67% | Revisions=-40% | GrowthEPS=+10.5% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: -57% (up=0, down=4)