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Aryzta ADR
(OTC:ARZTY)
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Rating:61Neutral
Price Target:
$7.00
▲(8.36% Upside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by improved underlying financial performance (profitability and positive free cash flow) but tempered by leverage and recent revenue/margin pressure. Technical signals are currently weak (below key moving averages with negative MACD), while valuation is reasonable on P/E. The earnings call reinforces the mixed setup: balance-sheet repair and cost-savings progress offset by weak organic growth and Germany-related risk.
Positive Factors
Cash Generation
Consistent positive operating cash flow (~EUR 248m) and FCF (~EUR 165m) indicate durable internal funding for capex, working capital and debt servicing. This reduces reliance on external financing, supports reinvestment and enables potential capital returns over the next 2–6 months.
Negative Factors
Weak Organic Growth
Sustained negative organic growth (-2.7% H1) signals demand weakness or loss of volume/mix that can structurally compress scale economics. If muted organic trends persist, margin improvement and cash generation could be harder to sustain despite cost programs, prolonging recovery timelines.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Consistent positive operating cash flow (~EUR 248m) and FCF (~EUR 165m) indicate durable internal funding for capex, working capital and debt servicing. This reduces reliance on external financing, supports reinvestment and enables potential capital returns over the next 2–6 months.
Read all positive factors
Aryzta ADR (ARZTY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.38B
Dividend YieldN/A
Average Volume (3M)509.00
Price to Earnings (P/E)11.3
Beta (1Y)0.87
Revenue Growth6.08%
EPS Growth7.07%
CountryUS
Employees7,654
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.42
Shares Outstanding248,276,440
10 Day Avg. Volume67
30 Day Avg. Volume509
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.34
Price to Sales (P/S)0.61
P/FCF Ratio7.84
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aryzta ADR Business Overview & Revenue Model
Company Description
Based in Schlieren, Switzerland, ARYZTA AG, established in 1897, operates as a leading supplier of frozen bakery solutions for business-to-business clients. Its operations span Europe, Asia, Australia, and New Zealand. The company's comprehensive ...
How the Company Makes Money
Aryzta’s primary source of revenue is the sale of baked goods and bakery-related products to commercial customers. In general, companies in this segment generate revenue by manufacturing bakery items at scale and selling them under customer contra...
Aryzta ADR Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 08, 2027
Earnings Call Sentiment Neutral
The call presents a mixed picture: operational and financial fundamentals are stabilizing — with confirmed cost savings from Project Excellence, reduced net debt, improved financing costs, stable free cash flow and ROIC above WACC — but top-line weakness, notably a significant drag from Germany and a modest EBITDA margin decline, are material near-term concerns. Management expects margin recovery in H2, continued contribution from innovation and new facilities, and is reviewing strategic options for Germany. The positives on balance-sheet repair, cost actions and clear targets are balanced by meaningful demand challenges and execution/strategic risk in Europe.Positive Updates
Revenue and Organic Growth (H1 2026)
Total revenue of EUR 1,063.9 million with an organic growth of -2.7% (total revenue decline of -2.1% / EUR -22.5m, FX +0.6% partially offsetting).
Negative Updates
Negative Organic Growth and Revenue Pressure
Organic growth declined -2.7% in H1 2026; overall revenue down -2.1% (EUR -22.5m). Management expects to reach only the lower end of full-year organic growth guidance.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Organic Growth (H1 2026)
Total revenue of EUR 1,063.9 million with an organic growth of -2.7% (total revenue decline of -2.1% / EUR -22.5m, FX +0.6% partially offsetting).
Read all positive updates
Company Guidance
Management reiterated 2026 guidance to deliver organic growth at the lower end of the range and to achieve further EBITDA and EBIT improvement, solid cash generation and an improved net‑debt/EBITDA profile; in H1 the group reported revenue of EUR 1,063.9m (total revenue -2.1% / -EUR 22.5m; organic -2.7%, FX +0.6%, volume/mix -2.1%), EBITDA of EUR 139.9m (margin 13.2%, -70bps vs prior year) including ~EUR 5.4m of one‑time costs (~50bps of revenue), free cash flow of EUR 23.6m, EPS EUR 1.82 and ROIC 11.1%; net debt fell by ~EUR 100m to ~EUR 789m (leverage 2.7x) while core equity rose to 23.3% (from 18%); finance costs guidance was tightened to the lower end of EUR 37–40m for FY2026; Project Excellence targets EUR 20–30m net savings by 2028 (EUR 8–10m gross ops savings identified to date, ~EUR 10m p.a. from organizational alignment, ~45–50% of production addressed and full footprint coverage by end‑2027), and the board will propose capital returns (dividend and/or buyback) at the 2027 AGM aiming toward Swiss‑SME payout ratios.Aryzta ADR Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
57
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.21B | 2.14B | 2.19B | 2.12B | 1.76B | 1.53B |
| Gross Profit | 704.14M | 675.16M | 469.20M | 392.30M | 318.50M | 252.50M |
| EBITDA | 297.13M | 293.83M | 341.00M | 280.40M | 170.30M | 182.90M |
| Net Income | 110.87M | 107.87M | 129.60M | 112.00M | 900.00K | -235.80M |
Balance Sheet | ||||||
| Total Assets | 1.92B | 1.89B | 1.91B | 1.97B | 2.08B | 2.06B |
| Cash, Cash Equivalents and Short-Term Investments | 74.37M | 68.57M | 77.10M | 130.80M | 245.80M | 170.90M |
| Total Debt | 863.44M | 714.20M | 816.40M | 524.90M | 535.80M | 373.30M |
| Total Liabilities | 1.47B | 1.33B | 1.46B | 1.17B | 1.15B | 961.60M |
| Stockholders Equity | 447.02M | 552.86M | 452.10M | 793.30M | 932.40M | 1.10B |
Cash Flow | ||||||
| Free Cash Flow | 173.49M | 165.31M | 204.60M | 197.30M | 116.80M | 300.00K |
| Operating Cash Flow | 259.92M | 247.53M | 298.90M | 251.40M | 200.10M | 84.30M |
| Investing Cash Flow | -99.00M | -92.50M | -93.40M | -60.10M | 8.90M | 633.20M |
| Financing Cash Flow | -160.00M | -158.97M | -230.60M | -299.10M | -143.40M | -976.00M |
Aryzta ADR Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $3.50B | 17.49 | 16.65% | ― | 12.77% | 500.65% | |
65 Neutral | $1.64B | 11.31 | 5.28% | 5.80% | 3.56% | -31.26% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $1.38B | 11.34 | 22.06% | ― | 6.08% | 7.07% | |
57 Neutral | $1.00B | -5.21 | -12.33% | ― | -4.48% | -250.67% | |
53 Neutral | $1.59B | 21.49 | 5.34% | 11.21% | 3.80% | -68.17% |
* Consumer Defensive Sector Average
ARZTY
Aryzta ADR
5.55
-3.74
-40.27%
FLO
Flowers Foods
7.31
-7.20
-49.61%
SMPL
Simply Good Foods
10.84
-17.47
-61.71%
FRPT
Freshpet
72.65
10.63
17.14%
NOMD
Nomad Foods
11.38
-2.50
-18.01%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.