DSM

Koninklijke DSMENXTAM:DSM Stock Report

Market Cap

€31.5b

7D

3.8%

1Y

33.4%

Updated

17 Sep, 2021

Data

Company Financials +
DSM fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance3/6
Financial Health6/6
Dividends4/6

DSM Overview

Koninklijke DSM N.V., a science-based company, engages in nutrition, health, and sustainable living businesses in the Netherlands, rest of Europe, North America, Latin America, China, India, Japan, rest of Asia, and internationally.

Koninklijke DSM Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Koninklijke DSM
Historical stock prices
Current Share Price€184.40
52 Week High€132.70
52 Week Low€188.55
Beta0.56
1 Month Change2.27%
3 Month Change21.00%
1 Year Change33.43%
3 Year Change98.32%
5 Year Change204.49%
Change since IPO2,727.85%

Recent News & Updates

Aug 24
Does This Valuation Of Koninklijke DSM N.V. (AMS:DSM) Imply Investors Are Overpaying?

Does This Valuation Of Koninklijke DSM N.V. (AMS:DSM) Imply Investors Are Overpaying?

Does the August share price for Koninklijke DSM N.V. ( AMS:DSM ) reflect what it's really worth? Today, we will...

Jun 29
Koninklijke DSM (AMS:DSM) Has A Pretty Healthy Balance Sheet

Koninklijke DSM (AMS:DSM) Has A Pretty Healthy Balance Sheet

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

May 24
Koninklijke DSM N.V.'s (AMS:DSM) Intrinsic Value Is Potentially 17% Below Its Share Price

Koninklijke DSM N.V.'s (AMS:DSM) Intrinsic Value Is Potentially 17% Below Its Share Price

Does the May share price for Koninklijke DSM N.V. ( AMS:DSM ) reflect what it's really worth? Today, we will estimate...

Shareholder Returns

DSMNL ChemicalsNL Market
7D3.8%2.4%-0.9%
1Y33.4%30.6%37.7%

Return vs Industry: DSM matched the Dutch Chemicals industry which returned 33.2% over the past year.

Return vs Market: DSM underperformed the Dutch Market which returned 38.4% over the past year.

Price Volatility

Is DSM's price volatile compared to industry and market?
DSM volatility
DSM Beta0.56
Industry Beta0.77
Market Beta1

Stable Share Price: DSM is less volatile than 75% of Dutch stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: DSM's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
190221,173Dimitri de Vreezehttps://www.dsm.com

Koninklijke DSM N.V., a science-based company, engages in nutrition, health, and sustainable living businesses in the Netherlands, rest of Europe, North America, Latin America, China, India, Japan, rest of Asia, and internationally. It operates through Nutrition, Materials, and Innovation Center segments. The Nutrition segment offers animal nutrition and health products, including vitamins, enzymes, eubiotics, carotenoids, lipids, and minerals; human nutrition and health products comprising carotenoids, digestive enzymes, nutritional lipids, nutraceuticals, probiotic and prebiotics, human milk oligosaccharides, and vitamins, as well as premix, market-ready solutions, and personalized nutrition; and skin and sun care, hair care, and aroma ingredients.

Valuation

Is Koninklijke DSM undervalued compared to its fair value and its price relative to the market?

49.99x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DSM (€184.4) is trading above our estimate of fair value (€133.5)

Significantly Below Fair Value: DSM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DSM is poor value based on its PE Ratio (50x) compared to the Dutch Chemicals industry average (21.9x).

PE vs Market: DSM is poor value based on its PE Ratio (50x) compared to the Dutch market (22.1x).


Price to Earnings Growth Ratio

PEG Ratio: DSM's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: DSM is overvalued based on its PB Ratio (3.7x) compared to the NL Chemicals industry average (3.5x).


Future Growth

How is Koninklijke DSM forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?

-2.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DSM's earnings are forecast to decline over the next 3 years (-2.6% per year).

Earnings vs Market: DSM's earnings are forecast to decline over the next 3 years (-2.6% per year).

High Growth Earnings: DSM's earnings are forecast to decline over the next 3 years.

Revenue vs Market: DSM's revenue (4.9% per year) is forecast to grow slower than the Dutch market (9.2% per year).

High Growth Revenue: DSM's revenue (4.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DSM's Return on Equity is forecast to be low in 3 years time (11.7%).


Past Performance

How has Koninklijke DSM performed over the past 5 years?

-9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DSM has high quality earnings.

Growing Profit Margin: DSM's current net profit margins (7.4%) are higher than last year (6.9%).


Past Earnings Growth Analysis

Earnings Trend: DSM's earnings have declined by 9.4% per year over the past 5 years.

Accelerating Growth: DSM's earnings growth over the past year (13.1%) exceeds its 5-year average (-9.4% per year).

Earnings vs Industry: DSM earnings growth over the past year (13.1%) underperformed the Chemicals industry 67.1%.


Return on Equity

High ROE: DSM's Return on Equity (7.4%) is considered low.


Financial Health

How is Koninklijke DSM's financial position?


Financial Position Analysis

Short Term Liabilities: DSM's short term assets (€5.8B) exceed its short term liabilities (€2.3B).

Long Term Liabilities: DSM's short term assets (€5.8B) exceed its long term liabilities (€4.2B).


Debt to Equity History and Analysis

Debt Level: DSM's debt to equity ratio (36.3%) is considered satisfactory.

Reducing Debt: DSM's debt to equity ratio has reduced from 50% to 36.3% over the past 5 years.

Debt Coverage: DSM's debt is well covered by operating cash flow (47.7%).

Interest Coverage: DSM's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Dividend

What is Koninklijke DSM current dividend yield, its reliability and sustainability?

1.30%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DSM's dividend (1.3%) isn’t notable compared to the bottom 25% of dividend payers in the Dutch market (1.37%).

High Dividend: DSM's dividend (1.3%) is low compared to the top 25% of dividend payers in the Dutch market (4.51%).


Stability and Growth of Payments

Stable Dividend: DSM's dividends per share have been stable in the past 10 years.

Growing Dividend: DSM's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (65.6%), DSM's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DSM's dividends in 3 years are forecast to be covered by earnings (51.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Dimitri de Vreeze (54 yo)

1.58yrs

Tenure

€2,639,000

Compensation

Mr. Dimitri de Vreeze serves as Chief Operating Officer of DSM Nutritional Products AG and has been its Chief Executive Officer and President since April 1, 2021. He serves as President of DSM Resins at DS...


CEO Compensation Analysis

Compensation vs Market: Dimitri's total compensation ($USD3.10M) is about average for companies of similar size in the Dutch market ($USD3.03M).

Compensation vs Earnings: Dimitri's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: DSM's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: DSM's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Koninklijke DSM N.V.'s employee growth, exchange listings and data sources


Key Information

  • Name: Koninklijke DSM N.V.
  • Ticker: DSM
  • Exchange: ENXTAM
  • Founded: 1902
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: €31.493b
  • Shares outstanding: 170.78m
  • Website: https://www.dsm.com

Number of Employees


Location

  • Koninklijke DSM N.V.
  • Het Overloon 1
  • Heerlen
  • Limburg
  • 6411 TE
  • Netherlands

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/17 22:25
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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 here.