Clariant AG (CLZNY)
Juste valeurFondamental
49
Prix
$10.45
Capitalisation boursière
$3.55B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Clariant makes specialty chemicals — ingredients and additives that go into other companies' products rather than finished goods sold directly to consumers. Its formulations end up in shampoos, detergents and cosmetics, in catalysts that refineries and chemical plants use to run reactions more efficiently, and in additives that keep plastics, coatings and other materials stable. Customers are industrial and consumer-goods manufacturers who need a specific chemical property, not a brand name.
Comment l'entreprise gagne de l'argent
Revenue comes from selling formulated chemicals by volume at prices that reflect both the cost of raw materials — often oil-derived — and the performance the formulation delivers, so pricing power varies a lot by product: a proprietary catalyst commands a different margin than a commodity-like additive. The business runs through three units — Care Chemicals, Catalysts, and Adsorbents & Additives — each selling into different end industries with different demand cycles.
Ce qui stimule la demande
Modérément cycliqueCare Chemicals sells mostly into personal care and household products, which hold up reasonably well in a downturn, while Catalysts and Adsorbents & Additives depend more on industrial output and energy-sector investment, which is more sensitive to the economic cycle. The mix of the three units softens, but does not eliminate, Clariant's exposure to industrial demand swings.
Les arguments en faveur
Buyers argue that specialty formulations command better margins than commodity chemicals, that the EBITDA margin has improved for three straight years even as reported sales declined, and that a more focused three-unit portfolio after years of divestitures lets management run the business more efficiently.
Les arguments contre
Sellers fear that flat-to-declining sales in local currency show weak underlying demand that margin gains from cost cutting cannot offset forever, that currency translation can erode reported results even when the underlying business is stable, and that Catalysts and Adsorbents & Additives remain exposed to industrial and energy cycles outside the company's control.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18 septembre 2026 with claude-haiku-4-5 — shared with all users
BASF is the only rival that meets Clariant in all three of its business units at once, selling personal- and home-care ingredients, process catalysts for syngas and petrochemicals, and adsorbents to the same industrial buyers.
Evonik's Consumer Specialties and Coatings & Additives units sell surfactants and care ingredients to the same cosmetics, detergent and coatings formulators that Clariant's Care Chemicals and Additives businesses supply.
Croda competes head-on with Clariant's Care Chemicals unit in surfactants and speciality ingredients for personal care and crop protection formulations.
Lanxess sells flame retardants, lubricant additives and preservatives for home and personal care into the same additive and consumer-protection markets as Clariant's Additives business.
Spun out of AkzoNobel and privately held, Nouryon supplies surfactants and speciality ingredients for cleaning, personal care and agriculture, bidding for the same formulator accounts as Clariant Care Chemicals.
Bilan & Liquidités
Chiffre d'affaires
$3.77B
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Résultat net
$-31M
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Flux de trésorerie libre
$214M
Capitaux propres totaux
$2.02B
Passif total
$2.13B
Ratio de liquidité général
1.77
Couverture des intérêts
-
Dette/EBITDA
3.77
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$9.86
Prix actuel
$10.45
Marge de sécurité
-6.0%
Fourchette de juste valeur
$9.26 - $10.47
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
-
ROE
-0.0%
Ratio P/B
1.74
P/FCF
16.53
Marge brute
31.0%
ROIC
7.6%
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
7.6%
WACC
6.6%
ROIC − WACC
+1.0 pp
Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.
Critères d'analyse fondamentale
Réussi (10)
- ROIC 7.6%
- Gross Margin 31.0%
- P/FCF 16.53
- P/B Ratio 1.74
- Debt/Equity ratio
- Operating Margin 10.7%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Analyst Consensus 59% Buy
Échoué (8)
- Price CAGR -5.32%
- CapEx intensity
- DCF valuation (Fairly valued)
- ROE -1.5%
- Revenue Growth 5Y 0.3%
- Earnings Surprise avg -6.6%
- Net Margin Trend -1.9% vs 5.9%
- Piotroski F-Score 2/9
Indisponible (9)
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Score F de Piotroski
Préoccupations financières sérieuses
Qualité des bénéfices
Qualité faible : examiner la comptabilité
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Aucune déclaration institutionnelle pour cette entreprise.
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Conrad Keijzer | Chief Executive Officer | 57 |
| Mr. Oliver Rittgen | Chief Financial Officer | - |
| Mr. Richard Haldimann Ph.D. | Chief Strategy & Technology Officer | - |
| Mr. Andreas Schwarzwaelder | Head of Investor Relations | - |
| Dr. Judith Bischoff | General Counsel & Head of Group Legal Services | 51 |
| Kai Rolker | Head of Group Communications | - |
| Priya Thaman | Chief Human Resources Officer | - |
| Mr. Joachim Krüger | Head of Corporate Sustainability & Regulatory Affairs | - |
| Monica Ferreira | Region Head of Latin America | - |
| Mr. Christian Vang | President of BU Care Chemicals & Americas Region | - |
Risque d'audit
10
Risque du conseil
1
Risque de rémunération
5
Risque droits des actionnaires
9
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for CLZNY, sourced from Markets Gazette.