Givaudan SA (GVDNY)
OTHER OTC:GVDNY
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Givaudan SA
(OTC:GVDNY)
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Rating:70Outperform
Price Target:
$78.00
▼(-5.74% Downside)
Action:ReiteratedDate:02/06/26
The score is driven primarily by strong underlying financial quality (steady profitability and robust free cash flow) and a constructive earnings call with clear long-term targets and improving leverage. These positives are tempered by mixed technical signals (negative MACD and price below longer-term averages) and a relatively high P/E, plus near-term risks highlighted on the call (margin/input-cost pressure, Taste & Wellbeing softness, FX, and one-off costs).
Positive Factors
Strong free cash flow generation
Consistently >CHF1bn FCF and a 14.1% FCF margin provide durable internal funding for R&D, dividends, buybacks and gradual debt reduction. High cash conversion (FCF ~0.66–0.82x net income) supports resilience through cycles and funds strategic investments without reliance on equity issuance.
Negative Factors
Meaningful absolute leverage
Debt roughly equal to equity and meaningful absolute net debt (CHF3.7bn reported) leave the company sensitive to prolonged revenue weakness or rate shocks. While leverage improved, the balance sheet still limits rapid M&A optionality and heightens refinancing and interest-rate exposure over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Consistently >CHF1bn FCF and a 14.1% FCF margin provide durable internal funding for R&D, dividends, buybacks and gradual debt reduction. High cash conversion (FCF ~0.66–0.82x net income) supports resilience through cycles and funds strategic investments without reliance on equity issuance.
Read all positive factors
Givaudan SA (GVDNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.50B
Dividend Yield1.96%
Average Volume (3M)40.99K
Price to Earnings (P/E)15.2
Beta (1Y)0.31
Revenue Growth6.86%
EPS Growth3.93%
CountryUS
Employees16,942
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)2.31
Shares Outstanding461,700,000
10 Day Avg. Volume13,245
30 Day Avg. Volume40,987
Financial Highlights & Ratios
PEG Ratio-11.93
Price to Book (P/B)6.41
Price to Sales (P/S)3.89
P/FCF Ratio24.08
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue3.87
Enterprise Value/Gross Profit8.89
Enterprise Value/Ebitda16.18
Forecast
1Y Price Target
$74.20Price Target Upside-10.33% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Givaudan SA Business Overview & Revenue Model
Company Description
Givaudan SA, together with its subsidiaries, manufactures, supplies, and sells fragrance, beauty, taste, and wellbeing products to the consumer goods industry. The company operates through in divisions, Fragrance & Beauty, and Taste & Wellbeing. T...
How the Company Makes Money
Givaudan primarily makes money by selling flavors and fragrance compounds, specialty ingredients, and related services to business customers (B2B). Its revenue model is largely based on long-term supply relationships in which Givaudan develops cus...
Givaudan SA Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Positive
The call presented a largely positive picture: solid like-for-like sales growth (5.1%), record-strength in Fragrance & Beauty (including Fine Fragrances +18.3%), strong cash generation (CHF 1.05bn FCF) and clear 5-year strategic delivery with ambitious 2030 targets and material ESG progress. Headwinds—modest margin and gross-margin pressure from input costs/tariffs, isolated weakness in Fragrance Ingredients, Taste & Wellbeing near-term softness (including a Q4 decline), FX and some one-off investigation-related costs—are notable but limited in scope relative to the company’s overall financial strength, cash generation and strategic progress.Positive Updates
Strong Group Sales Growth
Reported sales of CHF 7.472 billion (close to CHF 7.5bn) in 2025, up 5.1% like-for-like and +0.8% in Swiss francs, achieved against a high comparable of ~12.3% in 2024.
Negative Updates
Gross Margin Pressure from Input Costs and Tariffs
Gross margin declined from 44.1% to 43.5% in 2025, driven by higher input costs (including tariffs) and timing/inventory effects, with stronger impact in H2.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Group Sales Growth
Reported sales of CHF 7.472 billion (close to CHF 7.5bn) in 2025, up 5.1% like-for-like and +0.8% in Swiss francs, achieved against a high comparable of ~12.3% in 2024.
Read all positive updates
Company Guidance
Management set out its 2030 financial targets and the 2026 outlook: they are targeting 4–6% like‑for‑like average sales growth to 2030 and an industry‑leading free cash flow rate of >12% of sales (2025 FCF was CHF1,053m or 14.1% of sales), with a group EBITDA “sweet spot” around 22–25% and continued R&D investment of ~8% of sales (~CHF600m p.a.). For 2026 they expect to operate in a volatile geopolitical environment with only limited input‑cost pressure (tariffs remain uncertain), anticipate continued momentum in Fragrance & Beauty and a Taste & Wellbeing recovery later in the year (management flagged a ~2–3 point H2 vs H1 effect), and warned of some further non‑recurring costs for investigations and performance optimisation. They emphasized financial headroom to execute the plan—net debt CHF3.7bn (net‑debt/EBITDA 2.1x), weighted average interest rate ~1.94%, net investments ~3.8% of sales (2025: CHF285m)—and proposed a CHF72 dividend per share (+2.9%), the 25th consecutive increase.Givaudan SA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
80
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.47B | 7.41B | 6.92B | 7.12B | 6.68B |
| Gross Profit | 3.25B | 3.27B | 2.72B | 2.63B | 2.70B |
| EBITDA | 1.79B | 1.79B | 1.47B | 1.37B | 1.44B |
| Net Income | 1.07B | 1.09B | 893.00M | 856.00M | 821.00M |
Balance Sheet | |||||
| Total Assets | 11.86B | 12.10B | 11.13B | 11.51B | 11.43B |
| Cash, Cash Equivalents and Short-Term Investments | 742.00M | 762.00M | 608.00M | 488.00M | 278.00M |
| Total Debt | 4.42B | 4.75B | 4.91B | 5.00B | 4.67B |
| Total Liabilities | 7.30B | 7.52B | 7.13B | 7.27B | 7.49B |
| Stockholders Equity | 4.54B | 4.58B | 3.99B | 4.23B | 3.93B |
Cash Flow | |||||
| Free Cash Flow | 1.21B | 1.33B | 1.10B | 588.00M | 969.00M |
| Operating Cash Flow | 1.51B | 1.63B | 1.37B | 892.00M | 1.23B |
| Investing Cash Flow | -380.00M | -448.00M | -467.00M | -451.00M | -921.00M |
| Financing Cash Flow | -1.11B | -1.03B | -699.00M | -229.00M | -440.00M |
Givaudan SA Technical Analysis
Positive
82.75
Price Trends
72.68
Positive
75.70
Positive
80.19
Negative
Market Momentum
0.69
Negative
69.51
Neutral
97.88
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GVDNY, the sentiment is Positive. The current price of 82.75 is above the 20-day moving average (MA) of 69.32, above the 50-day MA of 72.68, and above the 200-day MA of 80.19, indicating a neutral trend. The MACD of 0.69 indicates Negative momentum. The RSI at 69.51 is Neutral, neither overbought nor oversold. The STOCH value of 97.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GVDNY.
Givaudan SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.21B | 33.95 | 12.38% | 0.61% | 9.62% | 16.72% | |
70 Outperform | $32.50B | 15.17 | 24.78% | 1.96% | 6.86% | 3.93% | |
67 Neutral | $4.87B | 20.69 | 12.14% | 1.70% | 5.80% | 12.24% | |
65 Neutral | $23.20B | 15.65 | 31.80% | 2.71% | -3.94% | 18.25% | |
64 Neutral | $12.54B | 70.63 | 21.80% | 1.96% | 5.68% | 3.81% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | $17.90B | 239.61 | -2.49% | 2.41% | -5.17% | -242.69% |
* Basic Materials Sector Average
GVDNY
Givaudan SA
70.59
-25.63
-26.64%
BCPC
Balchem
162.10
-0.58
-0.36%
IFF
International Flavors & Fragrances
70.09
-7.23
-9.35%
PPG
PPG Industries
104.08
-1.69
-1.60%
RPM
RPM International
98.22
-8.48
-7.95%
SXT
Sensient Technologies
114.47
21.32
22.89%
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.