(SZU) Südzucker - Ratings and Ratios
Sugar, Ethanol, Starch, Fruit, Ingredients
Dividends
| Dividend Yield | 2.08% |
| Yield on Cost 5y | 2.01% |
| Yield CAGR 5y | 45.65% |
| Payout Consistency | 86.1% |
| Payout Ratio | 409.1% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 18.2% |
| Value at Risk 5%th | 29.5% |
| Relative Tail Risk | -1.27% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.69 |
| Alpha | -14.80 |
| CAGR/Max DD | -0.32 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.544 |
| Beta | -0.045 |
| Beta Downside | -0.135 |
| Drawdowns 3y | |
|---|---|
| Max DD | 43.52% |
| Mean DD | 26.61% |
| Median DD | 28.13% |
Description: SZU Südzucker November 10, 2025
Südzucker AG (XETRA:SZU) is a German-based producer of sugar and a diversified food-ingredients group that operates through five business segments: Sugar, Special Products, CropEnergies, Starch, and Fruit. The Sugar segment supplies raw and specialty sugars, glucose syrup, and animal feed; Special Products creates functional ingredients such as dietary fibers, sugar substitutes, and frozen convenience foods; CropEnergies manufactures fuel-grade ethanol, neutral alcohol, and liquid CO₂; Starch offers starches, saccharification products, and related by-products; and Fruit processes fruit preparations, concentrates, and beverage bases.
Key financial highlights (2023) include revenue of roughly €6.1 billion and an adjusted EBITDA margin of about 12 %, reflecting the mix of higher-margin specialty ingredients and lower-margin commodity sugar. The company’s earnings are sensitive to EU sugar price reforms, raw beet-price volatility, and the price spread between ethanol and crude oil, which together drive the CropEnergies profitability.
Sector-level drivers that shape Südzucker’s outlook are the ongoing consumer shift toward reduced-sugar and “clean-label” products-benefiting its Special Products line-and the European Union’s renewable-fuel mandates, which underpin demand for its ethanol output.
For a deeper quantitative view of SZU’s valuation metrics and peer comparison, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income (-282.0m TTM) > 0 and > 6% of Revenue (6% = 528.1m TTM) |
| FCFTA 0.02 (>2.0%) and ΔFCFTA -2.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 21.03% (prev 25.24%; Δ -4.21pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.10 (>3.0%) and CFO 861.0m > Net Income -282.0m (YES >=105%, WARN >=100%) |
| Net Debt (1.77b) to EBITDA (1.99b) ratio: 0.89 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.86 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (204.1m) change vs 12m ago -13.50% (target <= -2.0% for YES) |
| Gross Margin 83.81% (prev 79.26%; Δ 4.55pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 101.0% (prev 113.2%; Δ -12.20pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -3.69 (EBITDA TTM 1.99b / Interest Expense TTM 87.0m) >= 6 (WARN >= 3) |
Altman Z'' 1.68
| (A) 0.22 = (Total Current Assets 4.01b - Total Current Liabilities 2.16b) / Total Assets 8.50b |
| (B) 0.09 = Retained Earnings (Balance) 786.0m / Total Assets 8.50b |
| (C) -0.04 = EBIT TTM -321.0m / Avg Total Assets 8.72b |
| (D) 0.18 = Book Value of Equity 990.0m / Total Liabilities 5.37b |
| Total Rating: 1.68 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 42.69
| 1. Piotroski 5.50pt |
| 2. FCF Yield 4.81% |
| 3. FCF Margin 2.10% |
| 4. Debt/Equity 0.77 |
| 5. Debt/Ebitda 0.89 |
| 6. ROIC - WACC (= -9.29)% |
| 7. RoE -8.72% |
| 8. Rev. Trend 12.35% |
| 9. EPS Trend -54.87% |
What is the price of SZU shares?
Over the past week, the price has changed by -1.34%, over one month by -1.44%, over three months by -0.83% and over the past year by -11.54%.
Is SZU a buy, sell or hold?
What are the forecasts/targets for the SZU price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.2 | 6.3% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 9.6 | 0.2% |
SZU Fundamental Data Overview December 11, 2025
Market Cap EUR = 1.95b (1.95b EUR * 1.0 EUR.EUR)
P/E Forward = 15.9744
P/S = 0.2216
P/B = 0.6247
P/EG = 0.75
Beta = 0.034
Revenue TTM = 8.80b EUR
EBIT TTM = -321.0m EUR
EBITDA TTM = 1.99b EUR
Long Term Debt = 1.34b EUR (from longTermDebt, last quarter)
Short Term Debt = 902.0m EUR (from shortTermDebt, last fiscal year)
Debt = 2.40b EUR (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 1.77b EUR (from netDebt column, last fiscal year)
Enterprise Value = 3.84b EUR (1.95b + Debt 2.40b - CCE 505.0m)
Interest Coverage Ratio = -3.69 (Ebit TTM -321.0m / Interest Expense TTM 87.0m)
FCF Yield = 4.81% (FCF TTM 185.0m / Enterprise Value 3.84b)
FCF Margin = 2.10% (FCF TTM 185.0m / Revenue TTM 8.80b)
Net Margin = -3.20% (Net Income TTM -282.0m / Revenue TTM 8.80b)
Gross Margin = 83.81% ((Revenue TTM 8.80b - Cost of Revenue TTM 1.43b) / Revenue TTM)
Gross Margin QoQ = 30.35% (prev 100.0%)
Tobins Q-Ratio = 0.45 (Enterprise Value 3.84b / Total Assets 8.50b)
Interest Expense / Debt = 0.08% (Interest Expense 2.00m / Debt 2.40b)
Taxrate = 16.67% (-5.00m / -30.0m)
NOPAT = -267.5m (EBIT -321.0m * (1 - 16.67%)) [loss with tax shield]
Current Ratio = 1.86 (Total Current Assets 4.01b / Total Current Liabilities 2.16b)
Debt / Equity = 0.77 (Debt 2.40b / totalStockholderEquity, last quarter 3.13b)
Debt / EBITDA = 0.89 (Net Debt 1.77b / EBITDA 1.99b)
Debt / FCF = 9.58 (Net Debt 1.77b / FCF TTM 185.0m)
Total Stockholder Equity = 3.24b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.32% (Net Income -282.0m / Total Assets 8.50b)
RoE = -8.72% (Net Income TTM -282.0m / Total Stockholder Equity 3.24b)
RoCE = -7.01% (EBIT -321.0m / Capital Employed (Equity 3.24b + L.T.Debt 1.34b))
RoIC = -6.62% (negative operating profit) (NOPAT -267.5m / Invested Capital 4.04b)
WACC = 2.66% (E(1.95b)/V(4.35b) * Re(5.85%) + D(2.40b)/V(4.35b) * Rd(0.08%) * (1-Tc(0.17)))
Discount Rate = 5.85% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -0.01%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈267.4m ; Y1≈175.6m ; Y5≈80.3m
Fair Price DCF = 7.73 (DCF Value 1.58b / Shares Outstanding 204.1m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -54.87 | EPS CAGR: -12.01% | SUE: -4.0 | # QB: 0
Revenue Correlation: 12.35 | Revenue CAGR: 0.04% | SUE: -0.04 | # QB: 0
EPS current Year (2026-02-28): EPS=0.03 | Chg30d=-0.124 | Revisions Net=-1 | Growth EPS=-96.3% | Growth Revenue=-11.2%
EPS next Year (2027-02-28): EPS=0.86 | Chg30d=-0.567 | Revisions Net=-1 | Growth EPS=+2493.5% | Growth Revenue=+5.2%