CRBN Stock Analysis: Corbion | AS
Specialty Chemicals | AS, Netherlands | Market Cap: 1.400m EUR | 12M Return: 46% | NL0010583399 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.54M
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Corbion N.V. is a Dutch specialty chemicals company founded in 1903 and headquartered in Amsterdam. It produces lactic acid and derivatives, food preservation solutions, functional ingredient systems, and algae-based nutritional ingredients, serving markets across Europe, the Americas, Asia, the Middle East, and Africa. The company operates through two business segments: Functional Ingredients & Solutions, and Health & Nutrition. Its extensive product portfolio spans additives and ingredients for food, feed, personal care, pharmaceuticals, and industrial applications, with a long list of branded offerings such as PURAC, PURASOLV, PURASORB, and AlgaPrime DHA. The company was previously known as CSM N.V. before rebranding to Corbion N.V. in October 2013.
As a specialty chemicals producer, Corbion operates in a sector that supplies value-added chemical inputs to a wide range of downstream industries, including food and beverage manufacturing, animal nutrition, personal care, and pharmaceuticals. Its focus on lactic acid and algae-derived ingredients places it at the intersection of the bio-based and sustainable ingredients trend, where companies develop renewable, fermentation-based alternatives to traditional petrochemical-derived products.
- Algae-based omega-3 demand grows as aquaculture feed market expands
- PLA bioplastics revenue scales on sustainable packaging regulation
- Health & Nutrition margins pressured by lactic acid feedstock costs
| Net Income: 62.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.79 > 1.0 |
| NWC/Revenue: 23.06% < 20% (prev 7.01%; Δ 16.05% < -1%) |
| CFO/TA 0.10 > 3% & CFO 144.2m > Net Income 62.2m |
| Net Debt (533.3m) to EBITDA (186.4m): 2.86 < 3 |
| Current Ratio: 1.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (58.4m) vs 12m ago -0.50% < -2% |
| Gross Margin: 25.05% > 18% (prev 26.10%; Δ -1.05% > 0.5%) |
| Asset Turnover: 85.16% > 50% (prev 89.21%; Δ -4.05% > 0%) |
| Interest Coverage Ratio: 5.39 > 6 (EBIT TTM 100.2m / Interest Expense TTM 18.6m) |
| A: 0.19 (Total Current Assets 635.1m - Total Current Liabilities 346.2m) / Total Assets 1.49b |
| B: 0.46 (Retained Earnings 681.8m / Total Assets 1.49b) |
| C: 0.07 (EBIT TTM 100.2m / Avg Total Assets 1.47b) |
| D: 1.03 (Book Value of Equity 755.7m / Total Liabilities 733.3m) |
| Altman-Z'' = 4.31 = AA |
| DSRI: 1.36 (Receivables 274.6m/208.4m, Revenue 1.25b/1.30b) |
| GMI: 1.04 (GM 26.10% / 25.05%) |
| AQI: 0.52 (AQ_t 0.08 / AQ_t-1 0.16) |
| SGI: 0.97 (Revenue 1.25b / 1.30b) |
| TATA: -0.06 (NI 62.2m - CFO 144.2m) / TA 1.49b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of October 22, 2026, the stock is trading at EUR 24.20 with a total of 377,365 shares traded. Over the past week, the price has changed by +4.85%, over one month by +6.80%, over three months by +24.68% and over the past year by +45.97%.
Current recommended Stop Loss: 23.50 (which is 2.9% or 1.2 ATR below the current price).
Corbion has no consensus analysts rating.
P/E Trailing = 22.9057
P/E Forward = 12.7877
P/S = 1.1172
P/B = 1.7074
P/EG = 1.2623
Revenue TTM = 1.25b EUR
EBIT TTM = 100.2m EUR
EBITDA TTM = 186.4m EUR
Long Term Debt = 320.2m EUR (from longTermDebt, last quarter)
Short Term Debt = 156.3m EUR (from shortTermDebt, last quarter)
Debt = 569.3m EUR (from shortLongTermDebtTotal, last quarter) + Leases 51.7m
Net Debt = 533.3m EUR (calculated: Debt 569.3m - CCE 36.0m)
Enterprise Value = 1.93b EUR (1.40b + Debt 569.3m - CCE 36.0m)
Interest Coverage Ratio = 5.39 (Ebit TTM 100.2m / Interest Expense TTM 18.6m)
EV/FCF = 25.57x (Enterprise Value 1.93b / FCF TTM 75.6m)
FCF Yield = 3.91% (FCF TTM 75.6m / Enterprise Value 1.93b)
FCF Margin = 6.03% (FCF TTM 75.6m / Revenue TTM 1.25b)
Net Margin = 4.96% (Net Income TTM 62.2m / Revenue TTM 1.25b)
Gross Margin = 25.05% ((Revenue TTM 1.25b - Cost of Revenue TTM 939.0m) / Revenue TTM)
Gross Margin QoQ = 24.47% (prev 25.65%)
Tobins Q-Ratio = 1.30 (Enterprise Value 1.93b / Total Assets 1.49b)
Interest Expense / Debt = 3.27% (Interest Expense 18.6m / Debt 569.3m)
Taxrate = 22.54% (18.1m / 80.3m)
NOPAT = 77.6m (EBIT 100.2m * (1 - 22.54%))
Current Ratio = 1.83 (Total Current Assets 635.1m / Total Current Liabilities 346.2m)
Debt / Equity = 0.75 (Debt 569.3m / totalStockholderEquity, last quarter 755.7m)
Debt / EBITDA = 2.86 (Net Debt 533.3m / EBITDA 186.4m)
Debt / FCF = 7.05 (Net Debt 533.3m / FCF TTM 75.6m)
Total Stockholder Equity = 749.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.23% (Net Income 62.2m / Total Assets 1.49b)
RoE = 8.30% (Net Income TTM 62.2m / Total Stockholder Equity 749.2m)
RoCE = 9.37% (EBIT 100.2m / Capital Employed (Equity 749.2m + L.T.Debt 320.2m))
RoIC = 6.14% (NOPAT 77.6m / Invested Capital 1.26b)
WACC = 5.69% (E(1.40b)/V(1.97b) * Re(6.97%) + D(569.3m)/V(1.97b) * Rd(3.27%) * (1-Tc(0.23)))
Discount Rate = 6.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -86.47 | Cagr: -1.62%
[DCF] Terminal Value 73.10% ; FCFF base≈85.3m ; Y1≈74.8m ; Y5≈60.4m
[DCF] Fair Price = 7.57 (EV 969.9m - Net Debt 533.3m = Equity 436.6m / Shares 57.7m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -90.15 | Revenue CAGR: -4.88% | SUE: 0.90 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=1.32 | Chg30d=-0.38% | Revisions=-25% | GrowthEPS=-0.1% | GrowthRev=+2.0%
EPS next Year (2027-12-31): EPS=1.55 | Chg30d=+0.99% | Revisions=+40% | GrowthEPS=+17.8% | GrowthRev=+3.7%
[Analyst] Revisions Ratio: +17% (up=2, down=1)