Wacker Chemie AG (DE:WCH)
XETRA:WCH
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Wacker Chemie AG
(XETRA:WCH)
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Rating:57Neutral
Price Target:
€93.00
▲(1.97% Upside)
Action:ReiteratedDate:04/10/26
The score is held back primarily by weak financial performance (large 2025 loss, margin deterioration, and rising leverage), partially offset by resilient operating cash flow. Technicals are notably supportive with a strong uptrend and positive momentum, while valuation is mixed due to a moderate dividend yield but negative earnings (negative P/E).
Positive Factors
Resilient operating cash flow
Wacker generated materially positive operating cash flow in 2025 (550M versus 310M), indicating underlying cash conversion strength despite reported losses. Durable cash generation supports ongoing operations, funds reinvestment cycles, and provides buffer to navigate cyclicality in chemicals over the next 2–6 months.
Negative Factors
Sharp 2025 earnings deterioration
The swing to an 800M net loss and negative operating profit signals meaningful profit-cycle stress and weaker pricing or cost absorption. Such pronounced earnings volatility reduces predictability of future cashflows and implies earnings recovery may require sustained margin improvement or structural cost action over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient operating cash flow
Wacker generated materially positive operating cash flow in 2025 (550M versus 310M), indicating underlying cash conversion strength despite reported losses. Durable cash generation supports ongoing operations, funds reinvestment cycles, and provides buffer to navigate cyclicality in chemicals over the next 2–6 months.
Read all positive factors
Wacker Chemie AG (WCH) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€4.53B
Dividend Yield3.75%
Average Volume (3M)95.55K
Price to Earnings (P/E)―
Beta (1Y)1.36
Revenue Growth-10.63%
EPS Growth-23.15%
CountryDE
Employees16,655
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.74
Shares Outstanding52,152,600
10 Day Avg. Volume102,598
30 Day Avg. Volume95,545
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.96
Price to Sales (P/S)0.63
P/FCF Ratio-1.23K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€79.33Price Target Upside-13.02% Downside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)0.11
Revenue Forecast (FY)€5.54B
Wacker Chemie AG Business Overview & Revenue Model
Company Description
Wacker Chemie AG, together with its subsidiaries, provides chemical products worldwide. It operates through four divisions: Wacker Silicones, Wacker Polymers, Wacker Biosolutions, and Wacker Polysilicon. The Wacker Silicones division offers silane...
How the Company Makes Money
Wacker Chemie AG primarily makes money by manufacturing chemical and materials products and selling them to industrial customers under business-to-business supply contracts, with revenue recognized mainly from product sales (and, in some areas, se...
Wacker Chemie AG Earnings Call Summary
Earnings Call Date:Oct 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Negative
The earnings call highlighted ongoing challenges such as decreased sales and EBITDA, negative net income, and a challenging market environment, particularly in Europe. Despite these issues, there are strategic efforts to improve cash flow and reduce costs, with strong performance in the semiconductor polysilicon segment. However, the overall sentiment is affected by the revised downward guidance and persistent market pressures.Positive Updates
Improved Net Cash Flow
Despite lower EBITDA, net cash flow improved to EUR 19 million, supported by targeted actions to reduce working capital.
Negative Updates
Decreased Sales and EBITDA
Sales in Q3 were EUR 1.34 billion, down 6% year-over-year. EBITDA declined to EUR 112 million from EUR 145 million a year ago, primarily due to lower pricing, foreign exchange, and volume mix.
Read all updates
Q3-2025 Updates
Positive
Negative
Improved Net Cash Flow
Despite lower EBITDA, net cash flow improved to EUR 19 million, supported by targeted actions to reduce working capital.
Read all positive updates
Company Guidance
During the Wacker Chemie AG Q3 2025 conference call, the company provided updated guidance amid challenging market conditions. The company reported Q3 sales of EUR 1.34 billion and an EBITDA of EUR 112 million, with a combined EBITDA from its four operating segments totaling EUR 159 million. This represented an 18% decline compared to the previous year and a 13% sequential decrease. Despite a lower EBITDA, net cash flow improved to EUR 19 million, supported by efforts to reduce working capital. The company revised its full-year sales forecast to the lower end of the EUR 5.5 billion to EUR 5.9 billion range and anticipates EBITDA in the lower half of the EUR 500 million to EUR 700 million range. Net cash flow is expected to be negative but significantly better than the prior year. Wacker Chemie plans to implement cost-saving measures targeting fixed production costs in early 2026 to enhance competitiveness and profitability amidst ongoing macroeconomic and competitive pressures.Wacker Chemie AG Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.49B | 5.72B | 6.40B | 8.21B | 6.21B |
| Gross Profit | 657.30M | 986.70M | 1.08B | 2.16B | 1.67B |
| EBITDA | 396.70M | 807.40M | 878.30M | 1.85B | 1.46B |
| Net Income | -821.10M | 241.00M | 313.60M | 1.25B | 806.90M |
Balance Sheet | |||||
| Total Assets | 8.79B | 9.41B | 8.85B | 9.40B | 8.13B |
| Cash, Cash Equivalents and Short-Term Investments | 1.48B | 1.22B | 1.39B | 1.78B | 1.67B |
| Total Debt | 2.37B | 1.95B | 1.51B | 1.34B | 1.25B |
| Total Liabilities | 5.04B | 4.57B | 4.27B | 4.37B | 5.03B |
| Stockholders Equity | 3.60B | 4.67B | 4.42B | 4.86B | 3.02B |
Cash Flow | |||||
| Free Cash Flow | -2.80M | -341.20M | 296.70M | 564.30M | 743.10M |
| Operating Cash Flow | 550.40M | 310.40M | 936.30M | 1.13B | 1.06B |
| Investing Cash Flow | -725.20M | -435.30M | -107.60M | -701.40M | -639.70M |
| Financing Cash Flow | 271.90M | 145.90M | -688.10M | -458.50M | -153.90M |
Wacker Chemie AG Technical Analysis
Positive
91.20
Price Trends
77.74
Positive
73.22
Positive
69.68
Positive
Market Momentum
3.51
Negative
67.67
Neutral
93.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:WCH, the sentiment is Positive. The current price of 91.2 is above the 20-day moving average (MA) of 80.66, above the 50-day MA of 77.74, and above the 200-day MA of 69.68, indicating a bullish trend. The MACD of 3.51 indicates Negative momentum. The RSI at 67.67 is Neutral, neither overbought nor oversold. The STOCH value of 93.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:WCH.
Wacker Chemie AG Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €1.76B | 24.68 | 27.29% | 1.24% | 1.03% | 25.48% | |
62 Neutral | €8.09B | 23.49 | 3.10% | 8.92% | -5.92% | -58.33% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | €4.53B | -4.20 | -19.52% | 3.75% | -10.63% | -23.15% | |
54 Neutral | €8.44B | 27.05 | 6.03% | 4.30% | -3.35% | -23.06% | |
45 Neutral | €12.35B | -17.78 | -10.04% | ― | ― | ― | |
45 Neutral | €1.61B | -2.64 | -14.66% | 0.59% | -6.82% | 71.94% |
* Basic Materials Sector Average
DE:WCH
Wacker Chemie AG
91.20
28.77
46.07%
DE:BNR
Brenntag AG
58.48
4.08
7.50%
DE:1COV
Covestro
59.50
0.94
1.61%
DE:EVK
Evonik
17.36
-0.09
-0.50%
DE:LXS
LANXESS
18.66
-5.17
-21.69%
DE:ACT
AlzChem Group AG
173.30
69.77
67.39%
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.