(NK) Imerys - Overview
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: PA (France) | Market Cap: 1.841m EUR | Total Return: -21.4% in 12m
Avg Turnover: 1.70M
Rev. Trend: -65.6%
Qual. Beats: 0
Warnings
High Debt/EBITDA (6.0) with thin interest coverage (-1.5)
Interest Coverage Ratio -1.5 is critical
Altman Z'' 0.79 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Imerys SA is a France-based global supplier of specialty minerals, operating across the Performance Minerals and High Temperature Materials segments. The company extracts and processes a diverse portfolio of minerals, including lithium, graphite, kaolin, and talc, serving industrial applications in the energy transition, construction, and consumer goods markets. Headquartered in Paris, the firm functions as a critical upstream provider within the global supply chain for advanced ceramics and battery components.
The specialty minerals sector is characterized by high barriers to entry due to the necessity of proprietary mining concessions and specialized processing infrastructure. Imerys utilizes a business model focused on value-added functional additives rather than bulk commodities, allowing for greater integration into technical manufacturing processes. For a deeper look at the firms historical valuation trends, consider reviewing the financial data on ValueRay. Founded in 1880, the company now operates as a subsidiary of Belgian Securities BV, maintaining a significant presence in the development of graphite and carbon solutions for the mobile energy market.
- Lithium mining projects drive long-term valuation through energy transition exposure
- European construction slowdown pressures performance minerals revenue and margins
- Energy costs and raw material inflation impact industrial mineral profitability
- High-growth battery materials segment demand offsets traditional industrial ceramics weakness
| Net Income: -337.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.77 > 1.0 |
| NWC/Revenue: 20.98% < 20% (prev 17.81%; Δ 3.16% < -1%) |
| CFO/TA 0.06 > 3% & CFO 369.9m > Net Income -337.8m |
| Net Debt (1.64b) to EBITDA (272.8m): 6.02 < 3 |
| Current Ratio: 2.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (84.6m) vs 12m ago 0.14% < -2% |
| Gross Margin: 46.81% > 18% (prev 0.50%; Δ 4.63k% > 0.5%) |
| Asset Turnover: 92.53% > 50% (prev 82.47%; Δ 10.06% > 0%) |
| Interest Coverage Ratio: -1.46 > 6 (EBITDA TTM 272.8m / Interest Expense TTM 164.7m) |
| A: 0.20 (Total Current Assets 2.10b - Total Current Liabilities 854.1m) / Total Assets 6.16b |
| B: -0.07 (Retained Earnings -408.8m / Total Assets 6.16b) |
| C: -0.04 (EBIT TTM -240.9m / Avg Total Assets 6.42b) |
| D: -0.07 (Book Value of Equity -238.9m / Total Liabilities 3.54b) |
| Altman-Z'' = 0.79 = B |
| DSRI: 0.90 (Receivables 543.6m/561.7m, Revenue 5.94b/5.51b) |
| GMI: 1.06 (GM 46.81% / 49.72%) |
| AQI: 1.02 (AQ_t 0.40 / AQ_t-1 0.39) |
| SGI: 1.08 (Revenue 5.94b / 5.51b) |
| TATA: -0.11 (NI -337.8m - CFO 369.9m) / TA 6.16b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of May 24, 2026, the stock is trading at EUR 21.34 with a total of 49,101 shares traded.
Over the past week, the price has changed by +4.46%,
over one month by +2.67%,
over three months by -5.97% and
over the past year by -21.40%.
Imerys has no consensus analysts rating.
P/E Trailing = 12.7602
P/E Forward = 12.8205
P/S = 0.5499
P/B = 0.7338
P/EG = 1.9471
Revenue TTM = 5.94b EUR
EBIT TTM = -240.9m EUR
EBITDA TTM = 272.8m EUR
Long Term Debt = 2.04b EUR (from longTermDebt, last quarter)
Short Term Debt = 93.6m EUR (from shortTermDebt, last quarter)
Debt = 2.49b EUR (from shortLongTermDebtTotal, last quarter) + Leases 151.4m
Net Debt = 1.64b EUR (calculated: Debt 2.49b - CCE 846.7m)
Enterprise Value = 3.48b EUR (1.84b + Debt 2.49b - CCE 846.7m)
Interest Coverage Ratio = -1.46 (Ebit TTM -240.9m / Interest Expense TTM 164.7m)
EV/FCF = 65.22x (Enterprise Value 3.48b / FCF TTM 53.4m)
FCF Yield = 1.53% (FCF TTM 53.4m / Enterprise Value 3.48b)
FCF Margin = 0.90% (FCF TTM 53.4m / Revenue TTM 5.94b)
Net Margin = -5.69% (Net Income TTM -337.8m / Revenue TTM 5.94b)
Gross Margin = 46.81% ((Revenue TTM 5.94b - Cost of Revenue TTM 3.16b) / Revenue TTM)
Gross Margin QoQ = -14.17% (prev 27.28%)
Tobins Q-Ratio = 0.57 (Enterprise Value 3.48b / Total Assets 6.16b)
Interest Expense / Debt = 6.62% (Interest Expense 164.7m / Debt 2.49b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = -180.7m (EBIT -240.9m * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 2.46 (Total Current Assets 2.10b / Total Current Liabilities 854.1m)
Debt / Equity = 0.96 (Debt 2.49b / totalStockholderEquity, last quarter 2.60b)
Debt / EBITDA = 6.02 (Net Debt 1.64b / EBITDA 272.8m)
Debt / FCF = 30.75 (Net Debt 1.64b / FCF TTM 53.4m)
Total Stockholder Equity = 3.07b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.26% (Net Income -337.8m / Total Assets 6.16b)
RoE = -9.71% (Net Income TTM -337.8m / Total Stockholder Equity 3.48b)
RoCE = -4.37% (EBIT -240.9m / Capital Employed (Equity 3.48b + L.T.Debt 2.04b))
RoIC = -3.42% (negative operating profit) (NOPAT -180.7m / Invested Capital 5.29b)
WACC = 5.93% (E(1.84b)/V(4.33b) * Re(7.24%) + D(2.49b)/V(4.33b) * Rd(6.62%) * (1-Tc(0.25)))
Discount Rate = 7.24% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 22.47 | Cagr: -0.59%
[DCF] Terminal Value 73.10% ; FCFF base≈75.9m ; Y1≈66.5m ; Y5≈53.8m
[DCF] Fair Price = N/A (negative equity: EV 863.0m - Net Debt 1.64b = -778.8m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -65.60 | Revenue CAGR: -3.68% | SUE: 0.00 | # QB: 0
EPS current Year (2026-12-31): EPS=1.58 | Chg30d=-12.25% | Revisions=-56% | GrowthEPS=-8.7% | GrowthRev=+0.7%
EPS next Year (2027-12-31): EPS=1.88 | Chg30d=-14.51% | Revisions=-60% | GrowthEPS=+18.8% | GrowthRev=+2.8%
[Analyst] Revisions Ratio: -60%