DSM-Firmenich Past Earnings Performance
Past criteria checks 1/6
DSM-Firmenich's earnings have been declining at an average annual rate of -24.3%, while the Chemicals industry saw earnings declining at 12.2% annually. Revenues have been growing at an average rate of 10.5% per year. DSM-Firmenich's return on equity is 1.9%, and it has net margins of 3%.
Key information
-24.26%
Earnings growth rate
-32.52%
EPS growth rate
| Chemicals Industry Growth | 1.60% |
| Revenue growth rate | 10.49% |
| Return on equity | 1.86% |
| Net Margin | 3.03% |
| Next Earnings Update | 30 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 08
DSFIR: Share Buyback And Dual Listing Will Support Re Rating
Analysts have adjusted the DSM-Firmenich price target to reflect a slightly higher fair value, moving from about €98.08 to around €98.68, as recent research points to revised assumptions on revenue growth, profit margins and future P/E. This comes against a mixed backdrop of price target changes across the Street, including moves between €60 and €87.
Narrative Update • May 24
DSFIR: Reset Profitability Expectations Will Pressure Future Margin Resilience
Analysts have reduced the DSM-Firmenich fair value estimate to about €60.56, down from €67.00. This change reflects a series of lower price targets from several banks, along with more cautious assumptions for growth, margins and valuation multiples.Narrative Update • May 09
DSFIR: Share Buyback Plan Will Support Re Rating Despite Mixed Earnings Views
DSM-Firmenich's updated analyst price target moves from €100.84 to €98.08, as analysts factor in slightly higher revenue growth and profit margin assumptions, along with a marginally higher discount rate and a lower future P/E, echoing recent mixed revisions across the Street. Analyst Commentary Recent research shows a mix of price target cuts and one later upward revision, which points to differing views on how quickly DSM-Firmenich can execute on its plans and how the current valuation lines up with earnings expectations.
Narrative Update • Apr 21
DSFIR: Share Buyback And Execution Discipline Will Support Future Re Rating
The analyst price target for DSM-Firmenich has been trimmed by around €2 to €79.82, reflecting analysts' recalibrated fair value assumptions after several recent target cuts and rating changes across the Street. Analyst Commentary Recent research updates on DSM-Firmenich point to a more cautious stance on valuation, with several firms revising price targets and ratings while still highlighting selective areas of support for the equity story.Narrative Update • Apr 06
DSFIR: Share Buyback Plan Will Support Re Rating Despite Earnings Headwinds
The analyst price target for DSM-Firmenich is now more closely aligned with the recent Street range, moving from about €146 to roughly €101 as analysts factor in lower target prices, a slightly higher discount rate, and a more conservative future P/E multiple, despite updated revenue growth assumptions. Analyst Commentary Recent Street research on DSM-Firmenich centers on lower price targets and ratings changes, with analysts reassessing assumptions around earnings, consumer demand, and currency effects.Narrative Update • Mar 23
DSFIR: Share Buyback And Market Share Defense Will Support Future Re Rating
DSM-Firmenich's analyst price target has been reduced by around €1.70 to €81.60, reflecting a series of recent target cuts and downgrades from banks as analysts factor in softer earnings expectations and a slightly lower profit margin outlook. Analyst Commentary Recent research updates show a clear reset in expectations for DSM-Firmenich, with several banks cutting price targets and some shifting to more neutral ratings as they reassess earnings power and valuation.Narrative Update • Mar 09
DSFIR: Market Share Defense Will Offset Softer U.S. Demand And Currency Headwinds
We trim our fair value estimate for DSM-Firmenich to €83.30 from €96.62, reflecting a lower blended price target as analysts factor in softer U.S. consumer confidence, currency headwinds, and more muted medium term growth expectations, despite still supportive views from some houses. Analyst Commentary Recent Street research on DSM-Firmenich points to a more cautious stance on the shares, with several price target cuts and rating changes feeding into the reduced fair value estimate.Narrative Update • Feb 22
DSFIR: Softer U.S. Demand And Full Valuation Will Shape Future Margin Resilience
Analysts have trimmed their fair value estimate for DSM-Firmenich to €67 from €70, reflecting lower price targets and more cautious earnings assumptions tied to softer U.S. consumer confidence, currency headwinds, and what they describe as a full valuation with limited EBITDA growth visibility into 2026. Analyst Commentary Recent Street research has turned more cautious on DSM-Firmenich, with several bearish analysts trimming price targets and moving to more neutral stances.Narrative Update • Feb 08
DSFIR: Chinese Competition And Commoditization Risks Will Shape Future Margin Resilience
Analysts have reduced their fair value estimate for DSM-Firmenich to €70.00 from €71.89, reflecting lower price targets and more cautious views on growth potential and competitive pressures highlighted in recent research updates. Analyst Commentary Recent research has turned more cautious, with several bearish analysts trimming price targets and, in some cases, downgrading their stance on DSM-Firmenich.Narrative Update • Jan 25
DSFIR: Market Share Defense Will Counter Rising European Commoditization Risk
The analyst fair value estimate for DSM-Firmenich has been reduced from €100.20 to €96.62, as analysts factor in lower assumed revenue growth and profit margins, slightly higher discount rates, and recent Street research highlighting full valuation, limited EBITDA growth prospects in 2026, and rising commoditization risks in European consumer ingredients. Analyst Commentary Recent Street research on DSM-Firmenich points to a more balanced view of the shares, with several firms trimming price targets and some shifting to more neutral stances.Narrative Update • Jan 10
DSFIR: Market Share Defense Will Offset European Commoditization And Chinese Pricing Pressures
We have trimmed our fair value estimate for DSM-Firmenich from €102.00 to €100.20, reflecting analysts' lower price targets, slightly higher discount rate assumptions, and more cautious profit margin expectations, even as they factor in revised longer term revenue growth and P/E inputs. Analyst Commentary Recent Street research on DSM-Firmenich has turned more mixed, with several firms trimming price targets and shifting ratings as they reassess upside versus execution risks.Narrative Update • Dec 14
DSFIR Commoditization And Chinese Competition Will Shape Future Margin Resilience Narrative
Analysts have reduced their average price target for DSM-Firmenich by roughly EUR 15, reflecting heightened concern over commoditization risks in European consumer ingredients, as well as intensifying competitive and pricing pressures from China. Analyst Commentary Bearish analysts have increasingly framed the recent wave of price target cuts as a reassessment of DSM-Firmenich's near term earnings power, with lower expectations for margin resilience in consumer ingredients.Narrative Update • Nov 29
DSFIR: Market Share Defense Will Overcome Mounting European Competition Risks
Analysts have reduced their price targets for DSM-Firmenich by notable amounts, with recent estimates moving downward. Concerns about increased competition and pricing pressure are weighing on sentiment.Analysis Article • Nov 26
DSM-Firmenich AG's (AMS:DSFIR) Shareholders Might Be Looking For Exit
When close to half the companies in the Chemicals industry in the Netherlands have price-to-sales ratios (or "P/S...Narrative Update • Nov 15
DSFIR: Competitive Risks Will Ease As European Pricing Pressure Moderates
The analyst fair value target for DSM-Firmenich has been lowered from €105.70 to €102.00. Analysts cite concerns about increased commoditization risks, competitive pressure, and adjustments to growth and profitability outlooks.Narrative Update • Nov 01
DSFIR: Resilient Consumer Health Demand Will Drive Performance Amid Pricing Pressure
Analysts have reduced their price target for DSM-Firmenich from €108.45 to €105.70. They cite slightly lower revenue growth expectations and modest adjustments to valuation assumptions as the reasons for this change.Analysis Article • Oct 19
Is It Time To Consider Buying DSM-Firmenich AG (AMS:DSFIR)?
Today we're going to take a look at the well-established DSM-Firmenich AG ( AMS:DSFIR ). The company's stock received a...Narrative Update • Oct 18
Health And Bio-Based Trends Will Drive Future Success
The fair value estimate for DSM-Firmenich has been slightly reduced from €108.95 to €108.45. This change reflects updated analyst projections citing modest adjustments to revenue growth and profit margin expectations.Narrative Update • Oct 04
Health And Bio-Based Trends Will Drive Future Success
Analysts have lowered their price target for DSM-Firmenich from €114.65 to €108.95. They cite reduced expectations for revenue growth and a higher discount rate, despite a marginal improvement in profit margins and future valuation metrics.Analysis Article • Sep 28
DSM-Firmenich (AMS:DSFIR) Has A Pretty Healthy Balance Sheet
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Narrative Update • Sep 19
Health And Bio-Based Trends Will Drive Future Success
Consensus price targets for DSM-Firmenich have been revised downward due to persistent earnings headwinds, weaker-than-expected Nutrition demand, and margin pressures from currency and input costs, partially offset by confidence in long-term synergies and portfolio optimization, resulting in a new fair value of €114.65 (down from €117.70). Analyst Commentary Bearish analysts point to persistent earnings headwinds and industry-wide pricing pressure driving down near-term profitability.Narrative Update • Sep 04
Health And Bio-Based Trends Will Drive Future Success
With both the future P/E ratio and consensus revenue growth forecasts remaining essentially unchanged, analysts have maintained DSM-Firmenich’s fair value estimate at €117.70. What's in the News DSM-Firmenich launched Lacteol® diarrhEase™ Kids, a top pediatrician-recommended postbiotic for children as young as six months, in the U.S. market.Analysis Article • Aug 05
The DSM-Firmenich AG (AMS:DSFIR) Half-Yearly Results Are Out And Analysts Have Published New Forecasts
DSM-Firmenich AG ( AMS:DSFIR ) shareholders are probably feeling a little disappointed, since its shares fell 5.1% to...Analysis Article • Aug 02
DSM-Firmenich AG (AMS:DSFIR) Shares Could Be 40% Below Their Intrinsic Value Estimate
Key Insights The projected fair value for DSM-Firmenich is €136 based on 2 Stage Free Cash Flow to Equity...Analysis Article • Jul 11
Is It Too Late To Consider Buying DSM-Firmenich AG (AMS:DSFIR)?
Let's talk about the popular DSM-Firmenich AG ( AMS:DSFIR ). The company's shares received a lot of attention from a...
New Narrative • Feb 23
Focusing On Taste, Texture, And Health Will Strengthen Future Prospects
The merger of DSM and Firmenich focuses on high-growth segments, enhancing revenue through synergies and achieving significant earnings improvements.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How DSM-Firmenich makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 9,034 | 274 | 2,209 | 713 |
| 30 Jun 25 | 13,011 | 718 | 2,848 | 888 |
| 31 Mar 25 | 12,905 | 484 | 2,848 | 888 |
| 31 Dec 24 | 9,054 | 301 | 2,207 | 814 |
| 30 Sep 24 | 12,627 | 30 | 3,959 | 1,096 |
| 30 Jun 24 | 12,455 | -190 | 2,535 | 652 |
| 31 Mar 24 | 11,541 | -424 | 2,535 | 652 |
| 31 Dec 23 | 10,627 | -658 | 2,535 | 652 |
| 30 Sep 23 | 9,686 | -456 | 1,772 | 295 |
| 30 Jun 23 | 8,745 | -254 | 1,772 | 295 |
| 31 Mar 23 | 8,568 | 100 | 1,772 | 295 |
| 31 Dec 22 | 8,390 | 454 | 1,772 | 295 |
| 30 Sep 22 | 9,582 | 837 | 895 | 162 |
| 30 Jun 22 | 7,867 | 823 | 1,649 | 274 |
| 31 Mar 22 | 7,568 | 822 | 1,649 | 274 |
| 31 Dec 21 | 7,269 | 820 | 1,649 | 274 |
| 30 Sep 21 | 7,955 | 660 | 2,517 | 560 |
| 30 Jun 21 | 7,558 | 493 | 1,622 | 398 |
| 31 Mar 21 | 7,572 | 423 | 1,622 | 398 |
| 31 Dec 20 | 8,106 | 448 | 1,622 | 398 |
| 30 Sep 20 | 7,960 | 510 | 1,639 | 295 |
| 30 Jun 20 | 8,034 | 557 | 1,639 | 295 |
| 31 Mar 20 | 9,011 | 722 | 1,795 | 349 |
| 31 Dec 19 | 7,998 | 675 | 1,639 | 295 |
| 30 Sep 19 | 8,272 | 820 | 1,839 | 348 |
| 30 Jun 19 | 8,502 | 794 | 1,839 | 348 |
| 31 Mar 19 | 9,124 | 934 | 1,839 | 348 |
| 31 Dec 18 | 9,267 | 1,069 | 1,839 | 348 |
| 30 Sep 18 | 9,235 | 984 | 1,753 | 334 |
| 30 Jun 18 | 9,106 | 2,082 | 1,753 | 334 |
| 31 Mar 18 | 8,908 | 1,942 | 1,753 | 334 |
| 31 Dec 17 | 8,632 | 1,761 | 1,753 | 334 |
| 30 Sep 17 | 8,471 | 1,676 | 1,694 | 309 |
| 30 Jun 17 | 8,333 | 738 | 1,694 | 309 |
| 31 Mar 17 | 8,166 | 711 | 1,694 | 309 |
| 31 Dec 16 | 7,920 | 645 | 1,694 | 309 |
| 30 Sep 16 | 7,831 | 588 | 1,605 | 332 |
| 30 Jun 16 | 7,778 | 274 | 1,605 | 332 |
| 31 Mar 16 | 7,749 | 214 | 1,605 | 332 |
| 31 Dec 15 | 7,722 | 174 | 1,605 | 332 |
| 30 Sep 15 | 7,607 | 66 | 1,382 | 304 |
| 30 Jun 15 | 7,456 | 114 | 1,382 | 304 |
Quality Earnings: DSFIR has high quality earnings.
Growing Profit Margin: DSFIR's current net profit margins (3%) are lower than last year (3.3%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: DSFIR's earnings have declined by 24.3% per year over the past 5 years.
Accelerating Growth: DSFIR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: DSFIR had negative earnings growth (-9%) over the past year, making it difficult to compare to the Chemicals industry average (32.3%).
Return on Equity
High ROE: DSFIR's Return on Equity (1.9%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/15 06:12 |
| End of Day Share Price | 2026/06/15 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
DSM-Firmenich AG is covered by 40 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jennifer Barker | Barclays |
| Alexander Sloane | Barclays |
| Sebastian Bray | Berenberg |