Corbion NV (CRBN) AI Stock Analysis

• Market Cap: €1.09B
• Dividend Yield: 3.38%
• Average Volume (3M): 159.43K
• Price to Earnings (P/E): 20.3
• Beta (1Y): 1.18
• Revenue Growth: -10.78%
• EPS Growth: -24.58%
• Country: NL
• Employees: 2,383
• Sector: Basic Materials
• Sector Strength: 66
• Industry: Chemicals - Specialty
• EPS (TTM): 0.45
• Shares Outstanding: 58,250,310
• 10 Day Avg. Volume: 243,177
• 30 Day Avg. Volume: 159,432
• PEG Ratio: 1.39
• Price to Book (P/B): 3.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -10.29
• 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: €24.50
• Price Target Upside: 31.23% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 67 Neutral
• Price Target: €20.50 ▲(9.80%Upside)

Corbion NV shows strong financial performance with improved profitability and a stable balance sheet, although high debt levels warrant caution. Technical analysis indicates mixed signals with potential medium-term strength. Valuation is reasonable with a moderate P/E ratio and attractive dividend yield. These factors contribute to an overall solid stock score.

Corbion NV Business Overview & Revenue Model

Company Description

Corbion N.V. provides lactic acid and lactic acid derivatives, emulsifiers, functional enzyme blends, minerals, vitamins, and algae ingredients worldwide. The company offers ingredient solutions made from renewable resources for the food, home and personal care, pharmaceutical, animal nutrition, medical device, and bioplastics markets. It markets its products through a network of sales offices and distributors. The company was formerly known as CSM N.V. and changed its name to Corbion N.V. in October 2013. Corbion N.V. was founded in 1919 and is headquartered in Amsterdam, the Netherlands.

How the Company Makes Money

Corbion NV generates revenue through the production and sale of bio-based ingredients. Its primary revenue streams are derived from its two main business segments: Food Ingredients and Biochemicals. In the Food Ingredients segment, Corbion supplies preservatives, emulsifiers, and other functional ingredients to food manufacturers, focusing on improving food safety, shelf life, and nutritional content. The Biochemicals segment provides sustainable solutions for a wide range of industries, including bioplastics, pharmaceuticals, and agriculture, through the supply of lactic acid and derivatives. Corbion's strategic partnerships and collaborations, particularly in the bioplastics sector, enhance its market penetration and innovation capabilities, contributing to its earnings. The company's focus on sustainability and innovation in product development further strengthens its market position and revenue potential.

Corbion NV Financial Statement Overview

Summary

Corbion NV demonstrates a strong financial performance with robust profitability improvements despite a revenue decline. The stable balance sheet with moderate leverage is offset by high debt levels and moderate cash flow conversion from net income, indicating resilience and effective management but with some areas requiring attention.

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
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.29B	1.44B	1.46B	1.07B	986.50M
	Gross Profit
312.10M	352.70M	324.30M	265.80M	269.80M
	EBIT
77.30M	117.20M	103.60M	72.30M	98.00M
	EBITDA
172.00M	198.00M	194.00M	133.10M	154.90M
	Net Income Common Stockholders
192.20M	72.90M	90.00M	78.30M	73.10M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
49.30M	70.20M	58.20M	42.20M	51.60M
	Total Assets
1.55B	1.70B	1.72B	1.36B	1.09B
	Total Debt
509.20M	785.50M	759.20M	503.20M	335.80M
	Net Debt
459.90M	715.30M	701.00M	461.00M	284.20M
	Total Liabilities
773.80M	1.06B	1.10B	806.50M	578.20M
	Stockholders Equity
772.50M	636.20M	625.70M	554.10M	516.00M
Cash Flow		Free Cash Flow
99.90M	16.10M	-182.60M	-122.00M	24.50M
	Operating Cash Flow
184.10M	165.40M	53.20M	26.70M	113.40M
	Investing Cash Flow
166.00M	-146.80M	-213.30M	-123.70M	-81.30M
	Financing Cash Flow
-371.70M	-5.30M	173.90M	85.90M	-23.90M

Corbion NV Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.67
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• 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 Negative. The current price of 18.67 is below the 20-day moving average (MA) of 19.45, above the 50-day MA of 18.61, and below the 200-day MA of 20.94, indicating a neutral trend. The MACD of 0.20 indicates Positive momentum. The RSI at 42.44 is Neutral, neither overbought nor oversold. The STOCH value of 7.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:CRBN.

Corbion NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRBN	67 Neutral	€1.09B	20.31	6.52%	3.38%	-10.78%	-24.58%
Sector *	51 Neutral	$1.99B	-1.26	-21.11%	5.30%	2.92%	-30.46%
0A00		€9.73B	20.86	10.15%	3.46%	―	―
0OLF		€1.88B	8.34	6.92%	6.35%	―	―
0QVU		€6.56B	22.90	14.13%	1.93%	―	―
0QGH		€1.63B	59.30		41.95%	―	―
DSFIR		€24.81B	99.47		2.66%	―	―