Barry Callebaut AG (CH:BARN)
:BARN
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Barry Callebaut AG
(BARN)
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Rating:54Neutral
Price Target:
CHF1,375.00
▲(3.46% Upside)
Action:ReiteratedDate:12/11/25
Barry Callebaut AG's overall stock score reflects strong revenue growth but is weighed down by financial pressures, including high leverage and negative cash flows. Technical indicators show mixed momentum, and the high P/E ratio raises valuation concerns. The earnings call provided some positive strategic insights, but the challenging environment remains a significant risk.
Positive Factors
Sustained Revenue Growth
Consistent top-line expansion indicates scalable B2B demand and stronger customer traction across product lines. Durable revenue momentum supports operating leverage, funds strategic initiatives and deleveraging plans, and reduces reliance on one-off gains for financial stability over the medium term.
Negative Factors
High Leverage
Substantial leverage and a large net-debt stock constrain financial flexibility and heighten sensitivity to commodity cycles and rate moves. Elevated debt amplifies refinancing and covenant risk, limiting ability to invest organically or pursue M&A without material improvement in cash conversion.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent top-line expansion indicates scalable B2B demand and stronger customer traction across product lines. Durable revenue momentum supports operating leverage, funds strategic initiatives and deleveraging plans, and reduces reliance on one-off gains for financial stability over the medium term.
Read all positive factors
Barry Callebaut AG (BARN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF7.28B
Dividend Yield2.31%
Average Volume (3M)12.29K
Price to Earnings (P/E)31.1
Beta (1Y)0.75
Revenue Growth42.39%
EPS Growth-2.13%
CountryCH
Employees13,239
SectorGeneral
Sector StrengthN/A
IndustryFood Confectioners
Share Statistics
EPS (TTM)33.13
Shares Outstanding5,488,858
10 Day Avg. Volume11,842
30 Day Avg. Volume12,286
Financial Highlights & Ratios
PEG Ratio-14.57
Price to Book (P/B)2.21
Price to Sales (P/S)0.39
P/FCF Ratio-17.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF1,233.74Price Target Upside-7.17% Downside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)53.66
Revenue Forecast (FY)CHF12.68B
Barry Callebaut AG Business Overview & Revenue Model
Company Description
Barry Callebaut AG, together with its subsidiaries, manufactures and sells cocoa and chocolate products. The company provides chocolates, compounds, chips and chunks, cocoa, cacao fruit, fillings, coatings, nuts, decorations and inclusions, and fo...
How the Company Makes Money
Barry Callebaut makes money primarily by selling cocoa and chocolate products to business customers (B2B). Key revenue streams include: (1) Cocoa ingredients: processing cocoa beans into semi-finished ingredients such as cocoa liquor/mass, cocoa b...
Barry Callebaut AG Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 16, 2026
Earnings Call Sentiment Neutral
The earnings call reflected a company making progress in cash generation and strategic initiatives but facing significant challenges in volume declines, market volatility, and cost pressures. While there are positive developments in specific segments, the overall environment remains challenging.Positive Updates
Return to Cash Generation
The company returned to cash generation in H2 and made strong progress on its deleverage agenda, supported by actions from the BC Next Level journey.
Negative Updates
Volume Decline
The company experienced a volume decline of 6.8%, with notable declines in Global Cocoa (12.8%) and Global Chocolate (5.3%).
Read all updates
Q4-2025 Updates
Positive
Negative
Return to Cash Generation
The company returned to cash generation in H2 and made strong progress on its deleverage agenda, supported by actions from the BC Next Level journey.
Read all positive updates
Company Guidance
During the Barry Callebaut Full Year Results Presentation for 2024-2025, key guidance metrics were discussed, indicating a strategic focus on deleveraging and growth. The company aims to reduce its net debt to EBITDA ratio to below 3.5x by the end of fiscal 2026, with a current leverage of 4.5x, down from a peak of 6.5x. This reduction is supported by strong cash generation and a balanced debt maturity profile, with CHF 700 million due annually over the next five years. Barry Callebaut also plans to enhance customer experience and competitiveness, innovate solutions, and target optimization opportunities. Despite a challenging environment with a 6.8% decline in group volume, the company projects low to mid-single-digit EBIT growth and double-digit growth in profit before tax for the upcoming fiscal year. Free cash flow showed a decline of CHF 312 million for the year, but a strong cash inflow of CHF 1.8 billion in the second half was achieved, mainly due to operational improvements and strategic actions.Barry Callebaut AG Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.79B | 10.39B | 8.47B | 8.09B | 7.21B |
| Gross Profit | 1.42B | 1.38B | 1.35B | 1.22B | 1.15B |
| EBITDA | 890.48M | 710.41M | 901.65M | 778.83M | 791.98M |
| Net Income | 185.87M | 189.78M | 444.36M | 360.70M | 383.94M |
Balance Sheet | |||||
| Total Assets | 12.64B | 15.27B | 8.52B | 7.93B | 7.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.94B | 978.35M | 488.33M | 880.02M | 1.10B |
| Total Debt | 6.21B | 4.80B | 1.80B | 2.08B | 2.38B |
| Total Liabilities | 10.02B | 12.43B | 5.63B | 5.03B | 4.67B |
| Stockholders Equity | 2.62B | 2.84B | 2.90B | 2.90B | 2.68B |
Cash Flow | |||||
| Free Cash Flow | -337.48M | -2.35B | -456.69M | 189.07M | 428.66M |
| Operating Cash Flow | -42.52M | -2.06B | -215.10M | 464.96M | 704.08M |
| Investing Cash Flow | -269.50M | -280.93M | -230.99M | -301.68M | -265.01M |
| Financing Cash Flow | 1.19B | 2.77B | -555.00M | -381.50M | -618.98M |
Barry Callebaut AG Technical Analysis
Neutral
1329.00
Price Trends
1389.16
Negative
1312.11
Positive
1167.87
Positive
Market Momentum
-8.42
Positive
46.95
Neutral
28.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BARN, the sentiment is Neutral. The current price of 1329 is below the 20-day moving average (MA) of 1361.10, below the 50-day MA of 1389.16, and above the 200-day MA of 1167.87, indicating a neutral trend. The MACD of -8.42 indicates Positive momentum. The RSI at 46.95 is Neutral, neither overbought nor oversold. The STOCH value of 28.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:BARN.
Barry Callebaut AG Peers Comparison
UnderperformOutperform
Sector (55)
CH:BARN
Barry Callebaut AG
1,329.00
589.02
79.60%
CH:GIVN
Givaudan SA
2,808.00
-806.15
-22.31%
CH:LISN
Chocoladefabriken Lindt & Spruengli AG
109,300.00
-2,641.17
-2.36%
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.