Retour au classement

BASF SE (BFFAF)

NEUTRAL
Basic MaterialsChemicalsGermany

Fondamental

53

Prix

$51.68

Capitalisation boursière

$45.09B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

BASF is a German chemicals group that turns crude oil, natural gas and other raw materials into the intermediate products other industries build on: plastics, coatings, catalysts, crop protection chemicals and ingredients for food, pharmaceuticals and personal care. Its plants are organized in integrated complexes ("Verbund" sites) where one factory's waste heat or by-product becomes another's raw material, and it sells worldwide across chemicals, automotive, construction, agriculture and consumer goods customers.

Comment l'entreprise gagne de l'argent

Revenue comes from selling chemical products by volume and price, so results swing with the price of oil and gas feedstocks, plant utilization and global industrial demand rather than following a subscription-like pattern. Margins are thinnest in basic Chemicals, where products are largely interchangeable with competitors', and richer in specialty areas like Agricultural Solutions and Surface Technologies, where formulations and application know-how are harder to copy.

Chiffre d'affaires par segment

Materials21.4%

Engineering plastics and polyurethane systems sold to the automotive, construction and furniture industries.

Chemicals16.9%

Basic petrochemicals and intermediates, largely feeding BASF's own downstream segments as well as outside customers.

Agricultural Solutions16.1%

Crop protection chemicals and seed treatments sold to farmers worldwide, BASF's highest-margin large segment.

Surface Technologies15%

Catalysts for vehicle emission control and battery materials, plus coatings for cars and industrial surfaces.

Industrial Solutions14.4%

Performance chemicals for industrial customers, including, since 2025, the chemical and refining catalysts business.

Nutrition & Care10.9%

Ingredients for food, pharmaceuticals, home care and personal care products, such as vitamins and surfactants.

Other5.4%

Non-allocated corporate businesses, including commodity trading activities, not attributed to the six operating segments.

Ce qui stimule la demande

Cyclique

Chemical volumes track global industrial production, construction and automotive output closely, so demand rises and falls with the manufacturing cycle rather than staying steady. BASF's own outlook ties its results to assumptions about global GDP growth, oil prices and the health of the automotive and construction sectors, and it has flagged persistent margin pressure across several product lines.

Principaux risques

  • Margin pressure across product lines — The company states that continuing pressure on margins for a number of products and value chains may lead to further declining margins, driven by price competition and raw material cost swings.
  • Energy and raw material cost exposure — As an energy-intensive producer, BASF's margins move with oil and gas prices, and higher CO2 costs under emissions trading schemes and energy legislation add a further regulatory cost layer.
  • Production disruption — Unplanned plant shutdowns from accidents, equipment failure or extreme weather can interrupt supply from BASF's integrated Verbund sites, even with redundant facilities and crisis management in place.
  • Macroeconomic and geopolitical risk — An unexpected slowdown in global growth, rising protectionism, or escalation of geopolitical conflicts could disrupt supply chains and constrain the energy and raw materials BASF depends on.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Bilan & Liquidités

Chiffre d'affaires

$61.14B

12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action

Résultat net

$5.73B

12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action

Flux de trésorerie libre

$1.05B

Capitaux propres totaux

$36.06B

Passif total

$26.68B

Ratio de liquidité général

1.85

Couverture des intérêts

-

Dette/EBITDA

4.06

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Surévalué

Juste valeur

$39.34

Prix actuel

$51.68

Marge de sécurité

-31.4%

Fourchette de juste valeur

$30.21 - $48.48

Méthodes d'estimation

Analyst Target:$52.34
DCF:$31.38
PE-based:$40.99
Graham Growth:$38.75
EPV:$25.95
Consensus des analystes:Acheter (16B / 8H / 6S)
Dernière surprise sur les résultats:+36.77%

Indicateurs de valorisation

Ratio P/E

7.88

ROE

6.1%

Ratio P/B

1.28

P/FCF

42.74

Marge brute

24.0%

ROIC

4.0%

Radar de rentabilité

Value Creation (Economic Moat)

ROIC

4.0%

WACC

5.1%

ROIC − WACC

-1.0 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Critères d'analyse fondamentale

Réussi (10)

  • P/B Ratio 1.28
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • Price below Graham Number
  • ROE 17.0%
  • Analyst Consensus 53% Buy
  • Earnings Quality (OCF/NI) 2.92
  • Net Margin Trend 2.7% vs 2.0%

Échoué (10)

  • Price CAGR -5.31%
  • ROIC 4.0%
  • Gross Margin 24.0%
  • P/FCF 42.74
  • Operating Margin 3.7%
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Revenue Growth 5Y 0.2%
  • Earnings Surprise avg -25.8%
  • Piotroski F-Score 2/9

Indisponible (7)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Score F de Piotroski

2/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

2.92

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

-

Rachat d'actions. Favorable aux actionnaires

Gouvernance

Équipe dirigeante

NomTitreÂge
Dr. Markus KamiethCEO & Chairman of the Board of Executive Directors55
Dr. Dirk ElvermannMember of the Board of Executive Directors, CFO & Chief Digital Officer54
Mr. Anup KothariMember of the Board of Executive Director & President of the Nutrition and Health Division57
Dr. Stephan KothradeCTO & Member of the Board of Executive Directors58
Dr. Katja ScharpwinkelMember of the Board of Executive Director56
Dr. Mary KurianMember of Board of Executive Director48
Dr. Livio TedeschiMembers of the Board of Executive Director53
Mr. Christian-Matthias JutziSenior VP of Mobile Emissions Catalysts & President of Corporate Finance48
Dr. Stefanie WettbergSenior Vice President of Investor Relations52
Ms. Silke WischeroppGeneral Counsel & Chief Compliance Officer46

Risque d'audit

2

Risque du conseil

5

Risque de rémunération

1

Risque droits des actionnaires

1

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Latest News

Recent headlines for BFFAF, sourced from Markets Gazette.

No recent news for BFFAF.