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CORBION NV (CRBN.AS) Stock Fundamental Analysis

AMS:CRBN - Euronext Amsterdam - NL0010583399 - Common Stock - Currency: EUR

20.18  -0.04 (-0.2%)

Fundamental Rating

6

Taking everything into account, CRBN scores 6 out of 10 in our fundamental rating. CRBN was compared to 61 industry peers in the Chemicals industry. CRBN scores excellent on profitability, but there are concerns on its financial health. CRBN may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year CRBN was profitable.
In the past year CRBN had a positive cash flow from operations.
Each year in the past 5 years CRBN has been profitable.
CRBN had a positive operating cash flow in each of the past 5 years.
CRBN.AS Yearly Net Income VS EBIT VS OCF VS FCFCRBN.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M

1.2 Ratios

With an excellent Return On Assets value of 12.43%, CRBN belongs to the best of the industry, outperforming 98.41% of the companies in the same industry.
With an excellent Return On Equity value of 24.88%, CRBN belongs to the best of the industry, outperforming 96.83% of the companies in the same industry.
The Return On Invested Capital of CRBN (6.89%) is better than 80.95% of its industry peers.
Industry RankSector Rank
ROA 12.43%
ROE 24.88%
ROIC 6.89%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
CRBN.AS Yearly ROA, ROE, ROICCRBN.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

CRBN has a Profit Margin of 14.92%. This is amongst the best in the industry. CRBN outperforms 90.48% of its industry peers.
In the last couple of years the Profit Margin of CRBN has grown nicely.
CRBN's Operating Margin of 7.04% is fine compared to the rest of the industry. CRBN outperforms 68.25% of its industry peers.
CRBN's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 24.81%, CRBN is in line with its industry, outperforming 42.86% of the companies in the same industry.
CRBN's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 7.04%
PM (TTM) 14.92%
GM 24.81%
OM growth 3Y1.69%
OM growth 5Y-4.15%
PM growth 3Y26.84%
PM growth 5Y41.37%
GM growth 3Y-0.41%
GM growth 5Y-2.31%
CRBN.AS Yearly Profit, Operating, Gross MarginsCRBN.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CRBN is still creating some value.
CRBN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
CRBN.AS Yearly Shares OutstandingCRBN.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
CRBN.AS Yearly Total Debt VS Total AssetsCRBN.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

The Debt to FCF ratio of CRBN is 5.10, which is a neutral value as it means it would take CRBN, 5.10 years of fcf income to pay off all of its debts.
CRBN has a Debt to FCF ratio of 5.10. This is in the better half of the industry: CRBN outperforms 71.43% of its industry peers.
A Debt/Equity ratio of 0.40 indicates that CRBN is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.40, CRBN perfoms like the industry average, outperforming 58.73% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 5.1
Altman-Z N/A
ROIC/WACC1.12
WACC6.16%
CRBN.AS Yearly LT Debt VS Equity VS FCFCRBN.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

2.3 Liquidity

A Current Ratio of 1.17 indicates that CRBN should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.17, CRBN is doing worse than 76.19% of the companies in the same industry.
CRBN has a Quick Ratio of 1.17. This is a bad value and indicates that CRBN is not financially healthy enough and could expect problems in meeting its short term obligations.
CRBN's Quick ratio of 0.58 is on the low side compared to the rest of the industry. CRBN is outperformed by 87.30% of its industry peers.
Industry RankSector Rank
Current Ratio 1.17
Quick Ratio 0.58
CRBN.AS Yearly Current Assets VS Current LiabilitesCRBN.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

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6

3. Growth

3.1 Past

CRBN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 167.14%, which is quite impressive.
CRBN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 49.84% yearly.
CRBN shows a small growth in Revenue. In the last year, the Revenue has grown by 1.90%.
CRBN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.70% yearly.
EPS 1Y (TTM)167.14%
EPS 3Y35.51%
EPS 5Y49.84%
EPS Q2Q%-46.79%
Revenue 1Y (TTM)1.9%
Revenue growth 3Y6.35%
Revenue growth 5Y5.7%
Sales Q2Q%4.6%

3.2 Future

The Earnings Per Share is expected to grow by 34.51% on average over the next years. This is a very strong growth
Based on estimates for the next years, CRBN will show a small growth in Revenue. The Revenue will grow by 5.32% on average per year.
EPS Next Y54.84%
EPS Next 2Y34.51%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.18%
Revenue Next 2Y5.05%
Revenue Next 3Y5.32%
Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
CRBN.AS Yearly Revenue VS EstimatesCRBN.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
CRBN.AS Yearly EPS VS EstimatesCRBN.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5

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9

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 6.19 indicates a rather cheap valuation of CRBN.
Compared to the rest of the industry, the Price/Earnings ratio of CRBN indicates a rather cheap valuation: CRBN is cheaper than 98.41% of the companies listed in the same industry.
CRBN is valuated cheaply when we compare the Price/Earnings ratio to 29.35, which is the current average of the S&P500 Index.
CRBN is valuated correctly with a Price/Forward Earnings ratio of 12.95.
82.54% of the companies in the same industry are more expensive than CRBN, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of CRBN to the average of the S&P500 Index (22.10), we can say CRBN is valued slightly cheaper.
Industry RankSector Rank
PE 6.19
Fwd PE 12.95
CRBN.AS Price Earnings VS Forward Price EarningsCRBN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

68.25% of the companies in the same industry are more expensive than CRBN, based on the Enterprise Value to EBITDA ratio.
CRBN's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CRBN is cheaper than 82.54% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.77
EV/EBITDA 9.21
CRBN.AS Per share dataCRBN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of CRBN may justify a higher PE ratio.
A more expensive valuation may be justified as CRBN's earnings are expected to grow with 34.51% in the coming years.
PEG (NY)0.11
PEG (5Y)0.12
EPS Next 2Y34.51%
EPS Next 3YN/A

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.02%, CRBN has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.89, CRBN pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, CRBN pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.02%

5.2 History

Dividend Growth(5Y)0%
Div Incr Years1
Div Non Decr Years5
CRBN.AS Yearly Dividends per shareCRBN.AS Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

CRBN pays out 21.80% of its income as dividend. This is a sustainable payout ratio.
DP21.8%
EPS Next 2Y34.51%
EPS Next 3YN/A
CRBN.AS Yearly Income VS Free CF VS DividendCRBN.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M
CRBN.AS Dividend Payout.CRBN.AS Dividend Payout, showing the Payout Ratio.CRBN.AS Dividend Payout.PayoutRetained Earnings

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CORBION NV

AMS:CRBN (3/7/2025, 7:00:00 PM)

20.18

-0.04 (-0.2%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-27 2025-02-27/amc
Earnings (Next)07-31 2025-07-31
Inst Owners77.4%
Inst Owner ChangeN/A
Ins Owners0.21%
Ins Owner ChangeN/A
Market Cap1.18B
Analysts78.46
Price Target27.69 (37.22%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.02%
Yearly Dividend0.56
Dividend Growth(5Y)0%
DP21.8%
Div Incr Years1
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.06%
PT rev (3m)0.53%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.42%
EPS NY rev (3m)3.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.94%
Revenue NY rev (3m)2.34%
Valuation
Industry RankSector Rank
PE 6.19
Fwd PE 12.95
P/S 0.91
P/FCF 11.77
P/OCF 6.39
P/B 1.52
P/tB 1.75
EV/EBITDA 9.21
EPS(TTM)3.26
EY16.15%
EPS(NY)1.56
Fwd EY7.72%
FCF(TTM)1.72
FCFY8.5%
OCF(TTM)3.16
OCFY15.66%
SpS22.11
BVpS13.26
TBVpS11.56
PEG (NY)0.11
PEG (5Y)0.12
Profitability
Industry RankSector Rank
ROA 12.43%
ROE 24.88%
ROCE 8.18%
ROIC 6.89%
ROICexc 7.21%
ROICexgc 7.95%
OM 7.04%
PM (TTM) 14.92%
GM 24.81%
FCFM 7.76%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y1.69%
OM growth 5Y-4.15%
PM growth 3Y26.84%
PM growth 5Y41.37%
GM growth 3Y-0.41%
GM growth 5Y-2.31%
F-Score8
Asset Turnover0.83
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 5.1
Debt/EBITDA 1.73
Cap/Depr 97%
Cap/Sales 6.54%
Interest Coverage 3.61
Cash Conversion 103.72%
Profit Quality 51.98%
Current Ratio 1.17
Quick Ratio 0.58
Altman-Z N/A
F-Score8
WACC6.16%
ROIC/WACC1.12
Cap/Depr(3y)194.04%
Cap/Depr(5y)192.31%
Cap/Sales(3y)11.51%
Cap/Sales(5y)11.48%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)167.14%
EPS 3Y35.51%
EPS 5Y49.84%
EPS Q2Q%-46.79%
EPS Next Y54.84%
EPS Next 2Y34.51%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)1.9%
Revenue growth 3Y6.35%
Revenue growth 5Y5.7%
Sales Q2Q%4.6%
Revenue Next Year5.18%
Revenue Next 2Y5.05%
Revenue Next 3Y5.32%
Revenue Next 5YN/A
EBIT growth 1Y44.66%
EBIT growth 3Y8.15%
EBIT growth 5Y1.31%
EBIT Next Year138.83%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y520.5%
FCF growth 3YN/A
FCF growth 5Y21.2%
OCF growth 1Y11.31%
OCF growth 3Y101.81%
OCF growth 5Y9.98%