IMCD N.V. (NL:IMCD)
:IMCD
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IMCD N.V.
(IMCD)
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Rating:64Neutral
Price Target:
€110.00
▲(15.30% Upside)
Action:ReiteratedDate:02/20/26
The score is primarily driven by fundamentally solid but recently pressured financial performance: cash flow quality is strong, but 2025 shows clear margin deterioration and slightly weaker revenue, alongside higher leverage. Technicals are improving in the short-to-medium term but remain below the 200-day trend, and valuation looks only fair at ~23x earnings with a moderate dividend yield.
Positive Factors
Cash generation quality
Consistent free cash flow near one-to-one with net income indicates high earnings quality and durable cash conversion. This provides long-term flexibility to fund dividends, capex, and debt reduction, supporting resilience through cycles and enabling strategic investment over the next 2–6 months.
Negative Factors
Margin compression
Material gross and downstream margin deterioration reduces the company’s ability to generate operating cash and reinvest in growth. If driven by structural pricing pressure, input cost shifts, or adverse mix, this pressure can persist and erode long-term profitability and return on invested capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation quality
Consistent free cash flow near one-to-one with net income indicates high earnings quality and durable cash conversion. This provides long-term flexibility to fund dividends, capex, and debt reduction, supporting resilience through cycles and enabling strategic investment over the next 2–6 months.
Read all positive factors
IMCD N.V. (IMCD) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€6.08B
Dividend Yield2.83%
Average Volume (3M)255.76K
Price to Earnings (P/E)13.0
Beta (1Y)1.06
Revenue Growth1.08%
EPS Growth-24.24%
CountryNL
Employees5,126
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)3.69
Shares Outstanding59,107,998
10 Day Avg. Volume216,740
30 Day Avg. Volume255,764
Financial Highlights & Ratios
PEG Ratio-0.86
Price to Book (P/B)2.24
Price to Sales (P/S)0.96
P/FCF Ratio14.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€98.00Price Target Upside2.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)5.33
Revenue Forecast (FY)€5.03B
IMCD N.V. Business Overview & Revenue Model
Company Description
IMCD N.V. distributes, markets, and sells specialty chemicals and ingredients in the Netherlands, rest of Europe, the Middle East, Africa, North America, South America, and the Asia-Pacific. The company offers enzymes, surfactants, biocides, chela...
How the Company Makes Money
IMCD makes money primarily by distributing specialty chemicals and ingredients on behalf of producers and selling them to manufacturers across multiple end markets. Its core revenue model is based on earning a gross profit margin (the difference b...
IMCD N.V. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
61
Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.78B | 4.73B | 4.44B | 4.60B | 3.44B |
| Gross Profit | 471.80M | 1.20B | 1.12B | 1.15B | 836.32M |
| EBITDA | 514.17M | 589.14M | 566.90M | 574.63M | 394.79M |
| Net Income | 217.58M | 278.24M | 292.27M | 313.08M | 207.28M |
Balance Sheet | |||||
| Total Assets | 4.64B | 4.88B | 4.15B | 3.64B | 3.27B |
| Cash, Cash Equivalents and Short-Term Investments | 238.59M | 522.78M | 394.46M | 222.00M | 177.88M |
| Total Debt | 1.70B | 1.73B | 1.28B | 722.60M | 409.63M |
| Total Liabilities | 2.59B | 2.66B | 2.43B | 1.97B | 1.81B |
| Stockholders Equity | 2.04B | 2.21B | 1.72B | 1.67B | 1.46B |
Cash Flow | |||||
| Free Cash Flow | 309.24M | 252.76M | 382.54M | 277.58M | 177.55M |
| Operating Cash Flow | 322.28M | 279.21M | 420.01M | 298.84M | 196.26M |
| Investing Cash Flow | -455.74M | -387.95M | -394.59M | -255.36M | -196.13M |
| Financing Cash Flow | -117.39M | 247.06M | 216.97M | -20.00K | 4.73M |
IMCD N.V. Technical Analysis
Positive
95.40
Price Trends
83.03
Positive
80.25
Positive
87.31
Positive
Market Momentum
4.45
Negative
68.60
Neutral
85.18
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:IMCD, the sentiment is Positive. The current price of 95.4 is above the 20-day moving average (MA) of 86.50, above the 50-day MA of 83.03, and above the 200-day MA of 87.31, indicating a bullish trend. The MACD of 4.45 indicates Negative momentum. The RSI at 68.60 is Neutral, neither overbought nor oversold. The STOCH value of 85.18 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:IMCD.
IMCD N.V. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | €8.35B | 22.64 | 14.61% | 3.38% | -7.05% | 32.41% | |
64 Neutral | €6.08B | 13.01 | 10.83% | 2.83% | 1.08% | -24.24% | |
59 Neutral | €1.09B | 8.28 | 8.84% | 3.50% | -1.61% | 38.58% | |
57 Neutral | €2.46B | 89.47 | 11.48% | 7.57% | -8.69% | -42.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €763.08M | ― | ― | 229.25% | ― | ― | |
50 Neutral | €219.80M | -2.78 | -26.08% | ― | -30.63% | 43.45% |
* General Sector Average
NL:IMCD
IMCD N.V.
102.95
-16.65
-13.92%
NL:AKZA
Akzo Nobel NV
48.80
-7.49
-13.30%
NL:AVTX
Avantium N.V.
8.72
2.97
51.65%
NL:CRBN
Corbion NV
18.99
0.37
1.98%
NL:OCI
OCI N.V.
3.62
-1.10
-23.26%
NL:LIGHT
Signify NV
20.40
2.52
14.09%
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.