Barry Callebaut AG (BARN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Barry Callebaut AG stock CHF 1,179, price CHF 1,240, that is 4.9% below the price, quality 47 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range CHF 709.68 – CHF 2,157 · fair‑value band CHF 721.64 – CHF 1,769 · the CHF 1,240 price screens above the CHF 1,179 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Barry Callebaut AG, together with its subsidiaries, engages in the manufacture and sale of chocolate and cocoa products in Western Europe, North America, Central and Eastern Europe, Latin America, and internationally. It operates in two segments, Global Chocolate and Global Cocoa.
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It offers chocolates, chips and chunks, cocoa, cacao fruit, fillings, coatings, nuts, decorations and inclusions, and food colorants, as well as beverage products for vending machines. The company is also involved in the sourcing of ingredients for chocolate production and cocoa-processing business.
In addition, it provides centralized treasury and management services, captive reinsurance, research and development services, and conference and training services through CHOCOLATE ACADEMY centers.
The company markets its products under the American Almond, Barry Callebaut, Cacao Barry, Cacaofruit, Callebaut, Caprimo, Carma, Dings Décor, Gertrude Hawk Ingredients, Mona Lisa, Van Houten, and Van Leer Chocolates brands.
It serves food manufacturers and artisans, as well as professional users of chocolate, including chocolatiers, pastry chefs, and bakers. Barry Callebaut AG was founded in 1996 and is headquartered in Zurich, Switzerland.
Stock analysis
Barry Callebaut AG (BARN) currently trades at CHF 1,240, while our model-based Fair Value estimate is CHF 1,179, so the stock looks roughly fairly valued today (gap 5.2%).
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 953.04 per share, and 2 of the 16 models we run sit above the CHF 1,240 price.
Bear case: the Asset-Based group reads lowest at CHF 215.23, and 14 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: CHF 721.64 (bear) to CHF 1,769 (bull), the price of CHF 1,240 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Barry Callebaut AG reported revenue of CHF 14.8B in FY2025 versus CHF 7.2B in FY2021, a compound +19.7%/yr. Reported net income was CHF 186M in FY2025, compounding −16.6%/yr from FY2021.
Key figures
Market cap CHF 6.8B Mid · P/E ratio 28.0 · P/S ratio 0.56 · EPS (TTM) CHF 44.23 · Dividend yield 2.3% · Net margin 1.3% · Return on equity 5.8% · Return on assets (EBIT) 6.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −8% fair-value upside, at −5%, BARN screens cheaper than that median.
Fair Value models
BearCHF 721.64Fair Value CHF 1,179BullCHF 1,769
Price CHF 1,240 · Downside -4.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (CHF 15.23 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual IncomeCHF 400.91CHF 427.81CHF 471.2976
EPVCHF 623.63CHF 813.24CHF 982.8774
ROIC CompounderCHF 670.21CHF 1,026CHF 1,50670
All 16 models by family
Earnings-Based
Graham-DoddCHF 230.52CHF 796.86CHF 1,07064
Lynch FVCHF 184.39CHF 263.41CHF 342.4361
PEG = 1.0CHF 184.39CHF 263.41CHF 342.4357
EPVCHF 623.63CHF 813.24CHF 982.8774
Dividend Discount
Gordon GGMCHF 284.12CHF 632.95CHF 1,09365
DDM Multi-StageCHF 284.12CHF 507.36CHF 657.6266
Multiples
P/E MultipleCHF 533.93CHF 711.91CHF 889.8963
P/S MultipleCHF 432.23CHF 576.31CHF 720.3958
P/B MultipleCHF 1,325CHF 1,767CHF 2,20855
EV/EBITCHF 692.40CHF 1,185CHF 1,67764
EV/EBITDACHF 780.83CHF 1,303CHF 1,82465
EV/RevenueCHF 269.59CHF 721.36CHF 1,17350
Asset-Based
NCAV (Graham)CHF 160.62CHF 215.23CHF 321.2354
Economic Profit
Residual IncomeCHF 400.91CHF 427.81CHF 471.2976
ROIC CompounderCHF 670.21CHF 1,026CHF 1,50670
Growth Earnings
Growth-Adj P/ECHF 458.36CHF 654.80CHF 851.2467
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+42.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.5%
Start year 2020 (pandemic). Over 10 years: +9.0% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)2.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−12.8% vs −2.4%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 4%
News mood ⓘNews mood, the average tone of recent news (34 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: The shift to premium segments and complete product solutions offers a potential edge, while cocoa volatility and negative cash flows continue to limit durability.
Main risk: The long-standing supply agreement with Hershey, accounting for about 4 percent of volumes, expires at the end of 2027 and could reduce sales volumes by around 1 percent in the following fiscal year as certain deliveries transition.
Barry Callebaut is shifting toward complete product solutions and premium segments to move beyond pure chocolate volumes. Early signs of volume recovery have appeared, yet profitability stays squeezed by cocoa volatility and the need for tighter execution. Will deeper customer partnerships and higher-margin offerings deliver more lasting gains than the persistent cost pressures subtract?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Confectioners · 80 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−4.9% · Above median
Profitability
Return on equity (12 months)5.8% · Above median
Return on assets1.5% · Below median
Net margin (12 months)1.3% · Below median
Operating margin (12 months)5.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−27.5% · Bottom 25%
Dividend yield (12 months)2.3% · Below median
Balance sheet
Debt / equity1.62× · Highest 25%
Valuation Multiplesvs Confectioners median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Barry Callebaut AG Fair Value". https://www.fairvalue-calculator.com/stock/BARN
Frequently asked questions
Is Barry Callebaut AG (BARN) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of CHF 1,179 versus a price of CHF 1,240, about 5% lower (fairly valued).
What is the fair value of BARN?
Our model-based fair value for Barry Callebaut AG is CHF 1,179 (as of Nov 8, 2026), built from audited fundamentals. The current price: CHF 1,240.
What is the quality score of BARN?
Barry Callebaut AG has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Barry Callebaut AG (BARN)?
Our model-based price target is the fair value of CHF 1,179 (as of Nov 8, 2026) from 16 valuation models. Cautious scenario CHF 721.64, optimistic scenario CHF 1,769. It is a calculation from audited fundamentals, not an analyst target.
What is the Barry Callebaut AG stock forecast for 2026?
Our models put fair value at CHF 1,179, about 5% lower versus a price of CHF 1,240 (fairly valued). Cautious scenario CHF 721.64, optimistic scenario CHF 1,769. The calculation is refreshed regularly with new filings.
What is the revenue of Barry Callebaut AG (BARN)?
Barry Callebaut AG reported trailing-twelve-month revenue of about CHF 12.2B (latest available figure, as of Nov 8, 2026).
Does Barry Callebaut AG pay a dividend?
Barry Callebaut AG currently shows a dividend yield of 2.34% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Barry Callebaut AG (BARN) and when is the ex-dividend date?
Barry Callebaut AG pays a dividend of CHF 29.00 per share a year, a dividend yield of 2.3%. The last ex-dividend date was Jan 12, 2026. A dividend has been paid every year since 2005. The payout ratio is 65.6% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Barry Callebaut AG (BARN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Barry Callebaut AG it is CHF 1,179 per share (as of Nov 8, 2026), against a price of CHF 1,240. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Barry Callebaut AG stock overvalued or undervalued in 2026?
As of Nov 8, 2026, BARN trades above its calculated fair value: price CHF 1,240, fair value CHF 1,179, a gap of about −5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BARN?
No. The price is what the market pays today (CHF 1,240); the fair value is what the company's own numbers justify (CHF 1,179). For Barry Callebaut AG the two are CHF 61.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Barry Callebaut AG worth?
The market values Barry Callebaut AG at about CHF 6.8B (market capitalisation, as of Nov 8, 2026). Per share that is CHF 1,240; our models calculate a fair value of CHF 1,179 per share.
What do the bullish and bearish scenarios say about BARN?
Our models span a range for Barry Callebaut AG: cautious scenario CHF 721.64, base CHF 1,179, optimistic CHF 1,769 per share (as of Nov 8, 2026, price CHF 1,240). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BARN?
Barry Callebaut AG trades at a price-to-earnings ratio of 28.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 1,179 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 31.2. Other multiples: PEG 0.6, P/B 2.6, P/S 0.6, EV/EBITDA 11.8.
What is the PEG ratio of BARN?
The PEG ratio of Barry Callebaut AG is 0.57 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Barry Callebaut AG (BARN)?
Balance-sheet figures for Barry Callebaut AG (as of Nov 8, 2026): return on equity 5.8%, debt of 1.62 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is BARN from its 52-week high?
Barry Callebaut AG trades at CHF 1,240, about 19% below its 52-week high of CHF 1,523 and 20% above the low of CHF 1,035 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 1,179 is for.
Which stocks are comparable to Barry Callebaut AG?
From the same area (Consumer Defensive) we also value Mondelez International, Inc, The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Cofco Sugar Holding, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Barry Callebaut AG stock attractive at the current price?
The data as of Nov 8, 2026: price CHF 1,240, calculated fair value CHF 1,179 (−5%), Quality Score 47/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BARN calculated?
We run Barry Callebaut AG through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 1,179 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Barry Callebaut AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Barry Callebaut AG (BARN)?
The closing price on Nov 6, 2026 was CHF 1,240. Our model-based fair value is CHF 1,179, about 5% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Barry Callebaut AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (CHF 721.64 to CHF 1,769) leaves room in how you read the outcome.
Where does the earnings growth of Barry Callebaut AG (BARN) come from?
Earnings per share at Barry Callebaut AG grew +1.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.7 %, EBIT margin −2.5 %, tax rate −0.6 %, residual (interest, one-offs) −1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Barry Callebaut AG
How large is the market capitalisation of Barry Callebaut AG (BARN)?
The market capitalisation of Barry Callebaut AG is CHF 6.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Barry Callebaut AG (BARN)?
The price-to-sales ratio of Barry Callebaut AG is 0.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Barry Callebaut AG (BARN)?
Earnings per share at Barry Callebaut AG are CHF 44.23 (price ÷ EPS = P/E 28.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Barry Callebaut AG (BARN)?
The dividend yield of Barry Callebaut AG is 2.3% (payout 65.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Barry Callebaut AG (BARN)?
The net margin of Barry Callebaut AG is 1.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Barry Callebaut AG (BARN)?
The return on equity (ROE) of Barry Callebaut AG is 5.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Barry Callebaut AG (BARN)?
On an EBIT basis the return on assets of Barry Callebaut AG is 6.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Barry Callebaut AG (BARN)?
The operating margin of Barry Callebaut AG is 5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Barry Callebaut AG (BARN)?
Revenue at Barry Callebaut AG is growing −27.5% versus a year earlier (3y avg +22.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Barry Callebaut AG (BARN)?
Earnings per share at Barry Callebaut AG are growing −56.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Barry Callebaut AG (BARN) generate?
The free cash flow of Barry Callebaut AG is −CHF 337M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Barry Callebaut AG (BARN) carry?
The net debt of Barry Callebaut AG is CHF 4.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 8, 2026