Clariant AG (CLZNY)
NEUTRAL基本面
45
价格
$10.51
市值
$3.45B
第一部分 · 这家公司值多少
概览
Clariant makes specialty chemicals — ingredients and additives that go into other companies' products rather than finished goods sold directly to consumers. Its formulations end up in shampoos, detergents and cosmetics, in catalysts that refineries and chemical plants use to run reactions more efficiently, and in additives that keep plastics, coatings and other materials stable. Customers are industrial and consumer-goods manufacturers who need a specific chemical property, not a brand name.
盈利方式
Revenue comes from selling formulated chemicals by volume at prices that reflect both the cost of raw materials — often oil-derived — and the performance the formulation delivers, so pricing power varies a lot by product: a proprietary catalyst commands a different margin than a commodity-like additive. The business runs through three units — Care Chemicals, Catalysts, and Adsorbents & Additives — each selling into different end industries with different demand cycles.
需求驱动因素
中度周期性Care Chemicals sells mostly into personal care and household products, which hold up reasonably well in a downturn, while Catalysts and Adsorbents & Additives depend more on industrial output and energy-sector investment, which is more sensitive to the economic cycle. The mix of the three units softens, but does not eliminate, Clariant's exposure to industrial demand swings.
看多理由
Buyers argue that specialty formulations command better margins than commodity chemicals, that the EBITDA margin has improved for three straight years even as reported sales declined, and that a more focused three-unit portfolio after years of divestitures lets management run the business more efficiently.
看空理由
Sellers fear that flat-to-declining sales in local currency show weak underlying demand that margin gains from cost cutting cannot offset forever, that currency translation can erode reported results even when the underlying business is stable, and that Catalysts and Adsorbents & Additives remain exposed to industrial and energy cycles outside the company's control.
Written by the editors, published on 2026年8月18日
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资产负债表与流动性
营收
$3.77B
截至最近已公布季度的最近12个月 — 根据每股指标估算
净利润
$-31M
截至最近已公布季度的最近12个月 — 根据每股指标估算
自由现金流
$214M
股东权益合计
$2.02B
负债合计
$2.13B
流动比率
1.77
利息覆盖率
-
债务/EBITDA
3.77
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$10.08
当前价格
$10.51
安全边际
-4.3%
公允价值区间
$9.34 - $10.82
估算方法
估值指标
市盈率（P/E）
-
ROE
-0.0%
市净率（P/B）
1.72
P/FCF
16.10
毛利率
31.0%
ROIC
7.6%
盈利能力雷达图
Value Creation (Economic Moat)
ROIC
7.6%
WACC
6.7%
ROIC − WACC
+0.9 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
基本面分析标准
通过（9）
- ROIC 7.6%
- Gross Margin 31.0%
- P/FCF 16.10
- P/B Ratio 1.72
- Debt/Equity ratio
- Operating Margin 10.7%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
未通过（9）
- Price CAGR -5.38%
- CapEx intensity
- DCF valuation (Fairly valued)
- ROE -1.5%
- Revenue Growth 5Y 0.3%
- Analyst Consensus 38% Buy
- Earnings Surprise avg -6.6%
- Net Margin Trend -1.9% vs 5.9%
- Piotroski F-Score 2/9
不可用（9）
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-评分
存在严重财务隐患
盈利质量
低质量：需深入审查会计处理
股权稀释
正在回购股份，对股东友好
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Conrad Keijzer | Chief Executive Officer | 57 |
| Mr. Oliver Rittgen | Chief Financial Officer | - |
| Mr. Richard Haldimann Ph.D. | Chief Strategy & Technology Officer | - |
| Mr. Andreas Schwarzwaelder | Head of Investor Relations | - |
| Dr. Judith Bischoff | General Counsel & Head of Group Legal Services | 51 |
| Kai Rolker | Head of Group Communications | - |
| Priya Thaman | Chief Human Resources Officer | - |
| Mr. Joachim Krüger | Head of Corporate Sustainability & Regulatory Affairs | - |
| Monica Ferreira | Region Head of Latin America | - |
| Mr. Christian Vang | President of BU Care Chemicals & Americas Region | - |
审计风险
10
董事会风险
1
薪酬风险
5
股东权利风险
9
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for CLZNY, sourced from Markets Gazette.