Corbion NV (CRBN) AI Stock Analysis

• Market Cap: €1.02B
• Dividend Yield: 3.52%
• Average Volume (3M): 126.91K
• Price to Earnings (P/E): 15.0
• Beta (1Y): 1.22
• Revenue Growth: -3.45%
• EPS Growth: -5.55%
• Country: NL
• Employees: 2,383
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Chemicals - Specialty
• EPS (TTM): 0.73
• Shares Outstanding: 58,250,310
• 10 Day Avg. Volume: 117,838
• 30 Day Avg. Volume: 126,914
• PEG Ratio: 0.04
• Price to Book (P/B): 1.63
• Price to Sales (P/S): 0.98
• P/FCF Ratio: 12.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €23.67
• Price Target Upside: 30.05% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: €21.50 ▲(18.13% Upside)

Corbion NV's overall stock score reflects strong financial performance with improved profitability and effective management, despite revenue challenges and high debt levels. Positive technical indicators support the score, though caution is advised due to potential overbought conditions. Valuation is reasonable but not exceptional.

Positive Factors

Profitability Improvements

Improved profitability metrics indicate strong operational efficiency and effective capital use, supporting long-term financial health.

Cash Flow Generation

Enhanced cash generation capability strengthens the company's ability to invest in growth and manage debt, ensuring financial stability.

Sustainability Focus

A focus on sustainable products aligns with growing consumer trends, potentially driving long-term demand and market share expansion.

Negative Factors

Revenue Decline

A declining revenue trend poses challenges to growth, potentially impacting future profitability and market competitiveness.

High Debt Levels

High debt levels may limit financial flexibility and increase risk, especially in volatile market conditions, affecting long-term stability.

Moderate Cash Conversion

Moderate cash conversion indicates potential inefficiencies in cash management, which could impact liquidity and investment capacity.

Corbion NV Business Overview & Revenue Model

Company Description

Corbion NV is a global leader in the production of sustainable ingredients and solutions for the food, biochemicals, and pharmaceuticals sectors. The company specializes in biobased products, including emulsifiers, preservatives, and functional ingredients that enhance food safety and quality. Corbion operates primarily in two main segments: Food Ingredients and Biochemicals, providing innovative solutions that cater to the growing demand for sustainable and clean-label products.

How the Company Makes Money

Corbion generates revenue through the sale of its diverse range of food ingredients and biochemical products. The Food Ingredients segment is a significant contributor to its earnings, where the company offers products like emulsifiers, preservatives, and functional ingredients to food manufacturers. In addition, Corbion's Biochemicals segment focuses on providing biobased products for applications in various industries, including pharmaceuticals and personal care. The company also benefits from strategic partnerships and collaborations with other businesses, enhancing its market reach and product offerings. Factors such as the increasing consumer demand for sustainable and natural products, along with regulatory support for biobased ingredients, further contribute to Corbion's revenue growth.

Corbion NV Financial Statement Overview

Summary

Corbion NV demonstrates strong profitability improvements with a net profit margin increase to 14.9% and a high return on equity of 24.9%. However, revenue decline and high debt levels pose challenges. Cash flow generation has improved, but conversion from net income remains moderate.

Income Statement

Corbion NV shows a mixed performance in its income statement. The gross profit margin for the latest year is approximately 24.2%, indicating a strong ability to convert revenue into gross profit. However, the net profit margin has improved significantly to approximately 14.9% from the previous year's 5.0%, driven by increased net income. The revenue growth rate shows a decline of 10.8% from the previous year, suggesting challenges in maintaining top-line growth. The EBIT and EBITDA margins are 6.0% and 13.4% respectively, reflecting efficient operational management despite the revenue decline.

Balance Sheet

The balance sheet presents a stable but leveraged financial position. The debt-to-equity ratio is approximately 0.66, indicating moderate leverage. The return on equity stands high at 24.9%, showcasing effective use of shareholders' capital to generate earnings. The equity ratio is 50%, pointing to a well-balanced asset financing structure through equity and liabilities. However, the high debt levels pose a potential risk in a fluctuating market environment.

Cash Flow

The cash flow statement highlights some concerns. The free cash flow growth has been positive, with an increase from €16.1 million to €99.9 million, indicating improved cash generation capability. However, the operating cash flow to net income ratio of 0.96 suggests less cash generation relative to net income, potentially due to working capital needs or other operational factors. The free cash flow to net income ratio stands at 0.52, showing moderate conversion of net income into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.30B	1.29B	1.44B	1.46B	1.07B	986.50M
Gross Profit	334.30M	312.10M	305.40M	324.30M	265.80M	269.80M
EBITDA	198.50M	172.00M	198.00M	194.00M	140.10M	154.90M
Net Income	68.30M	192.20M	72.90M	90.00M	78.30M	73.10M
Balance Sheet
Total Assets	1.45B	1.55B	1.70B	1.72B	1.36B	1.09B
Cash, Cash Equivalents and Short-Term Investments	40.10M	49.30M	70.20M	58.20M	42.20M	51.60M
Total Debt	494.30M	509.20M	785.50M	759.20M	503.20M	335.80M
Total Liabilities	727.30M	773.80M	1.06B	1.10B	806.50M	578.20M
Stockholders Equity	726.20M	772.50M	636.20M	625.70M	554.10M	516.00M
Cash Flow
Free Cash Flow	99.80M	99.90M	16.10M	-182.60M	-122.00M	24.50M
Operating Cash Flow	168.50M	184.10M	165.40M	53.20M	26.70M	113.40M
Investing Cash Flow	-142.80M	166.00M	-146.80M	-213.30M	-123.70M	-81.30M
Financing Cash Flow	-38.60M	-371.70M	-5.30M	173.90M	85.90M	-23.90M

Corbion NV Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:CRBN, the sentiment is Neutral. The current price of 18.2 is below the 20-day moving average (MA) of 18.62, above the 50-day MA of 17.87, and above the 200-day MA of 18.07, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 47.47 is Neutral, neither overbought nor oversold. The STOCH value of 16.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NL:CRBN.

Corbion NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRBN	71 Outperform	€1.02B	15.04	8.84%	3.52%	-3.45%	-5.55%
FFARM	64 Neutral	€390.05M	7.61	16.22%	4.62%	8.76%	193.06%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
IMCD	61 Neutral	€5.14B	19.02	14.32%	2.79%	6.09%	-7.18%
AKZA	55 Neutral	€9.63B	165.48	1.39%	3.49%	-2.03%	-89.67%
AVTX	46 Neutral	€153.70M	-2.99	-26.08%	―	-12.31%	23.77%
OCI	41 Neutral	€717.13M	-3.52	―	237.52%	―	―