Umicore SA

ENXTBR:UMI Stock Report

Market Cap: €5.1b

Umicore Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Bart Sap

Chief executive officer

€2.2m

Total compensation

CEO salary percentage41.43%
CEO tenure6.1yrs
CEO ownershipn/a
Management average tenure2.8yrs
Board average tenure3.1yrs

Recent management updates

Recent updates

Narrative Update • May 06

UMI: Mixed Bank Ratings And Higher Margins Will Support Future Upside

Analysts have lifted the fair value estimate for Umicore from €22.50 to €24.00, citing updated price targets from both positive and negative rating changes, as well as small adjustments to the discount rate, revenue growth, margin and future P/E assumptions. Analyst Commentary Recent Street research on Umicore reflects a mix of views, but there are clear pockets of optimism that help frame the new fair value estimate of €24.00.
Narrative Update • Apr 22

UMI: Execution Risks And Mixed Ratings Signal Caution Around Future Repricing

Analysts have raised their fair value estimate for Umicore from €10.00 to €14.00, reflecting updated views on discount rates, long term revenue and margin forecasts, and future P/E assumptions following mixed recent rating and price target changes. Analyst Commentary Recent Street research on Umicore has been mixed, with price target changes and rating moves pulling investor attention in different directions.
Narrative Update • Apr 08

UMI: Mixed Bank Ratings And Margin Outlook Will Support Future Upside

Analysts have adjusted their view on Umicore with a revised price target of €21.60. This reflects updated expectations on discount rates, revenue contraction and profit margins, which are also echoed in recent rating changes from major banks.
Narrative Update • Mar 24

UMI: Mixed Rating Shifts Will Shape Future Margin Led Upside Potential

Narrative Update Analysts have nudged the blended fair value estimate for Umicore higher from about €18.03 to €18.83, reflecting updated price targets that factor in recent rating changes, mixed revisions to official targets, a slightly higher discount rate, weaker revenue expectations, improved margin assumptions, and a lower future P/E. Analyst Commentary Recent research on Umicore presents a mixed picture, with some analysts adjusting targets higher and others turning more cautious on the stock's prospects.
Narrative Update • Mar 10

UMI: Refined Margin Outlook And Mixed Ratings Will Support Future Upside Potential

Analysts have trimmed their average price target on Umicore from about €23.50 to roughly €22.50, reflecting updated views on revenue growth, profit margins and a slightly lower assumed future P/E multiple. Analyst Commentary Recent research views on Umicore are mixed, but there are some clear bright spots that more optimistic analysts are focusing on.
Narrative Update • Feb 24

UMI: Firmer Margin Outlook And Higher Discount Rate Will Drive Future Upside

Our updated analyst narrative lowers Umicore's fair value estimate from €25.00 to €23.50. This reflects the recent shift in Street price targets around €16 and analyst views that softer revenue expectations, a slightly higher discount rate, and a modestly lower future P/E are partly offset by firmer profit margin assumptions.
Narrative Update • Feb 09

UMI: Higher Discount Rate And P/E Assumptions Will Shape Future Risk Reward Balance

Narrative update Analysts have nudged their price target on Umicore higher, with one recent update moving from €13.60 to €16, citing refined assumptions on discount rate, revenue trends and future P/E as key inputs to their revised view. Analyst Commentary Recent research points to a slightly more constructive view on Umicore, with the price target revised to €16 from €13.60 while the rating remains at Hold.
Analysis Article • Feb 08

Umicore SA's (EBR:UMI) Intrinsic Value Is Potentially 52% Above Its Share Price

Key Insights Using the 2 Stage Free Cash Flow to Equity, Umicore fair value estimate is €29.83 Umicore's €19.68 share...
Narrative Update • Jan 26

UMI: Higher Margin Assumptions Will Pressure Future Risk Reward Balance

Analysts have lifted their fair value estimate for Umicore from €14.79 to €18.03, reflecting recent price target increases, such as the move to €16 cited in Street research, and updated assumptions around discount rate, profit margin and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts point to the recent lift in price targets to €16 as support for the higher fair value range, suggesting current assumptions on discount rate and P/E are seen as reasonable.
Narrative Update • Jan 12

UMI: Refined Discount Assumptions And Profitability Outlook Will Support Future Upside

Analysts have lifted their fair value estimate for Umicore from €22.59 to €25.00, citing recent price target increases, such as the move to €16.00 from €13.60, that reflect updated assumptions on discount rates, revenue trends, profit margins and future P/E expectations. Analyst Commentary Recent research signals a more constructive tone on Umicore, with bullish analysts refining their assumptions around discount rates, revenue trends, profit margins and P/E levels to justify higher valuation ranges.
Analysis Article • Dec 26

Umicore SA (EBR:UMI) Stock Catapults 25% Though Its Price And Business Still Lag The Industry

Umicore SA ( EBR:UMI ) shareholders have had their patience rewarded with a 25% share price jump in the last month...
Narrative Update • Dec 14

UMI: Rising Profit Outlook And Lower Risk Are Expected To Drive Upside

Analysts have raised their price target for Umicore from €19.42 to €22.59, reflecting adjusted expectations for future profitability and valuation multiples, even as revenue growth assumptions have been revised slightly lower. Valuation Changes Fair Value has risen moderately from €19.42 to €22.59, implying a higher intrinsic valuation for Umicore shares.
Analysis Article • Dec 13

The Trend Of High Returns At Umicore (EBR:UMI) Has Us Very Interested

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...
Narrative Update • Nov 28

UMI: Sector Headwinds And Stable Margins Will Influence Future Outlook

Analysts have revised their price target for Umicore, keeping it at €14.79. They cite ongoing sector headwinds and conservative forecasts for growth and profitability.
Narrative Update • Nov 12

UMI: Margin Pressures From Input Costs Will Likely Challenge Outlook

Analysts have raised their price target for Umicore from €15.00 to €16.20, citing a more favorable outlook for the shares following updated assessments. Analyst Commentary Following the recent price target adjustment, analysts have provided further insights on Umicore's prospects.
Narrative Update • Oct 29

Execution Challenges And Competitive Pressures Will Weigh On Future Profit Prospects

The analyst price target for Umicore has increased from €14.42 to approximately €14.79. This reflects analysts' expectations of sustained growth and profitability following recent upward revisions by major research firms.
Narrative Update • Oct 15

Cost-saving Measures And IONWAY Investment Will Secure Future Success

Umicore’s analyst price target has been revised upward from EUR 14.02 to EUR 14.42. This reflects updated analyst expectations following continued modest adjustments in discount rates and growth forecasts.
Analysis Article • Oct 12

Umicore SA's (EBR:UMI) 25% Price Boost Is Out Of Tune With Revenues

Umicore SA ( EBR:UMI ) shares have had a really impressive month, gaining 25% after a shaky period beforehand. Looking...
Narrative Update • Aug 27

Cost-saving Measures And IONWAY Investment Will Secure Future Success

Despite cautious optimism from analysts citing improving core segment outlooks and expectations of stronger earnings growth, the consensus analyst price target for Umicore remained unchanged at €14.02. Analyst Commentary Bullish analysts cite improving outlook in Umicore's core business segments, prompting upward adjustments in price targets.
Analysis Article • Aug 25

Investors Shouldn't Overlook Umicore's (EBR:UMI) Impressive Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Aug 09

Statutory Profit Doesn't Reflect How Good Umicore's (EBR:UMI) Earnings Are

ENXTBR:UMI 1 Year Share Price vs Fair Value Explore Umicore's Fair Values from the Community and select yours The...
Analysis Article • Jul 24

Revenues Not Telling The Story For Umicore SA (EBR:UMI) After Shares Rise 28%

Umicore SA ( EBR:UMI ) shares have continued their recent momentum with a 28% gain in the last month alone...
Analysis Article • May 19

Is Umicore (EBR:UMI) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
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New Narrative • Apr 27

Cost-saving Measures And IONWAY Investment Will Secure Future Success

Strategic cost-saving measures and operational efficiency focus aim to improve net margins and enhance long-term earnings despite near-term cash flow impacts.

CEO Compensation Analysis

How has Bart Sap's remuneration changed compared to Umicore's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025€2m€923k

€385m

Sep 30 2025n/an/a

€257m

Jun 30 2025n/an/a

€129m

Mar 31 2025n/an/a

-€676m

Dec 31 2024€2m€777k

-€1b

Sep 30 2024n/an/a

-€1b

Jun 30 2024n/an/a

-€1b

Mar 31 2024n/an/a

-€463m

Dec 31 2023€1m€570k

€385m

Sep 30 2023n/an/a

€435m

Jun 30 2023n/an/a

€484m

Mar 31 2023n/an/a

€527m

Dec 31 2022€1m€550k

€570m

Sep 30 2022n/an/a

€549m

Jun 30 2022n/an/a

€528m

Mar 31 2022n/an/a

€573m

Dec 31 2021€1m€367k

€619m

Compensation vs Market: Bart's total compensation ($USD2.62M) is above average for companies of similar size in the Belgian market ($USD1.60M).

Compensation vs Earnings: Bart's compensation has been consistent with company performance over the past year.

CEO

Bart Sap (47 yo)

6.1yrs
Tenure
€2,226,596
Compensation

Mr. Bart Sap is Chief Executive Officer and Chairman of Management Board of Umicore SA from May 16, 2024 and has been its Member of Management Board since March 01, 2021. Mr. Sap was Executive Vice Preside...

Leadership Team

NamePositionTenureCompensationOwnership
Bart Sap
CEO & Chairman of Management Board6.1yrs€2.23mno data
Wannes Peferoen
CFO & Member of Management Board3.6yrs€1.37mno data
Geert Olbrechts
CTO, Executive VP of Recycling & Member of Management Board2.8yrs€1.30mno data
Jensen Verhelle
Executive VP of Catalysis & Member of Management Board2yrs€1.25mno data
Veerle Slenders
Executive VP of Specialty Materials & Member of the Management Board2.9yrs€1.33mno data
Ana Nordang
Executive VP of People2.7yrs€1.34mno data
Karena Cancilleri
Executive VP of Battery Cathode Materials Business Group & Member of Management Board1.1yrs€1.94mno data
Stevens Benoit
Vice President of Group Accounting & Controllingno datano datano data
Joris Peeters
Senior Vice President of Information Systemsno datano datano data
Caroline Kerremans
Head of Investor Relationsno datano datano data
Evelien Goovaerts
Vice President of Group Communications & Investor Relationsno datano datano data
Wilfried Muller
Senior Vice President of Global Sales & Marketingno datano datano data
2.8yrs
Average Tenure
47yo
Average Age

Experienced Management: UMI's management team is considered experienced (2.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Koenraad Debackere
Independent Vice-Chairperson of Supervisory Board6.1yrs€111.05kno data
Thomas Leysen
Chairman of Supervisory Board6.1yrs€160.60kno data
Marc Grynberg
Member of Supervisory Board3.1yrs€122.68kno data
Frederic Oudea
Member of Supervisory Board2.1yrs€89.84kno data
Francoise Chombar
Independent Member of Supervisory Board6.1yrs€105.05kno data
Karel Vinck
Honorary Chairmanno data€138.00kno data
Martina Merz
Member of Supervisory Board1.1yrsno datano data
Birgit Behrendt
Independent Member of Supervisory Board5.1yrs€110.05kno data
Philip Eykerman
Independent Member of the Supervisory Board1.5yrs€71.48kno data
Anna Bertona
Independent Member of Supervisory Boardless than a yearno datano data
Michael Bredael
Member of Supervisory Board1.1yrs€59.96kno data
Alison Henwood
Independent Member of Supervisory Board4.1yrs€142.26kno data
3.1yrs
Average Tenure
62yo
Average Age

Experienced Board: UMI's board of directors are considered experienced (3.1 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/08 07:36
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Umicore SA is covered by 32 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Rupesh MadlaniBarclays
James StewartBarclays
Sebastian BrayBerenberg