Evonik Industries AG (EVK) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Evonik Industries AG stock €20.62, price €21.52, that is 4.2% below the price, quality 54 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range €11.87 – €22.04 · fair‑value band €18.03 – €24.91 · the €21.52 price screens above the €20.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Evonik Industries AG operates as a chemicals company in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. It operates through the Advanced Technologies, Custom Solutions, and Infrastructure segments.
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The Advanced Technologies segment provides polymers for medical applications; crosslinkers; hydrogen peroxide, a sterilizing agent for cleaning silicon wafers and a bleaching agent for the paper and textile industries; fumed and precipitated silicas and silanes for the automotive, tire, electronics, and cosmetics industries; and D-/L-methionine and lysine for animal nutrition.
Its Custom Solutions segment provides additives for coatings, adhesives, sealants, polyurethane foams, and lubricants for the cosmetic, cleaning, and pharmaceutical industries.
The Infrastructure segment engages in the infrastructure activities and offers butadiene, MTBE, butene-1, isononanol, and DINP for use in the plastic and packaging industries, production of rubber and fuels, and as plasticizers in the construction and automotive sectors.
The company was founded in 1847 and is headquartered in Essen, Germany.
Stock analysis
Evonik Industries AG (EVK) currently trades at €21.52, while our model-based Fair Value estimate is €20.62, so the stock looks roughly fairly valued today (gap 4.4%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of €16.44 per share, and 5 of the 24 models we run sit above the €21.52 price.
Bear case: the Asset-Based group reads lowest at €4.33, and 19 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €18.03 (bear) to €24.91 (bull), the price of €21.52 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 54/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Evonik Industries AG reported revenue of €14.1B in FY2025 versus €15.0B in FY2021, a compound −1.5%/yr. Reported net income was €265M in FY2025, compounding −22.8%/yr from FY2021.
Key figures
Market cap €10.0B Large · P/E ratio 58.2 · P/S ratio 0.71 · EPS (TTM) €0.3700 · Dividend yield 4.6% · Net margin 0.9% · Return on equity 1.6% · Return on assets (EBIT) 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 81% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −4%, EVK screens cheaper than that median.
Fair Value models
Bear€18.03Fair Value €20.62Bull€24.91
Price €21.52 · Downside -4.2%
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.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
FCF DCF€15.77€25.29€44.7678
Growth DCF€16.95€26.40€44.3377
Residual Income€13.32€13.39€13.8476
All 24 models by family
DCF Models
FCF DCF€15.77€25.29€44.7678
Owner Earnings€10.70€17.84€32.4473
5Y Revenue Exit€10.07€16.00€24.6272
5Y EBITDA Exit€19.07€31.61€48.2274
5Y P/E Exit€6.65€10.09€14.2671
10Y Revenue Exit€11.58€16.39€21.4767
10Y EBITDA Exit€17.70€26.55€36.0769
10Y P/E Exit€9.77€12.54€15.0665
Earnings-Based
Graham-Dodd€3.87€4.73€5.3267
EPV€6.85€9.02€10.9874
Dividend Discount
Gordon GGM€11.96€13.24€15.2469
DDM Multi-Stage€11.96€15.64€21.2367
Multiples
P/E Multiple€7.25€9.67€12.0863
P/S Multiple€7.25€9.67€12.0858
P/B Multiple€14.55€19.40€24.2555
EV/EBIT€7.20€12.01€16.8364
EV/EBITDA€22.43€32.33€42.2267
EV/Revenue€5.27€10.64€16.0051
Asset-Based
NCAV (Graham)€3.23€4.33€6.4754
Growth DCF
Growth DCF€16.95€26.40€44.3377
Rev-Margin DCF€10.07€16.44€24.3572
Economic Profit
Residual Income€13.32€13.39€13.8476
ROIC Compounder€6.85€9.02€10.9872
Growth Earnings
Growth-Adj P/E€5.17€7.38€9.5967
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−7.2%
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.
−8.7%
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.
+2.9%
Start year 2020 (pandemic). Over 10 years: +0.4% a year
Revenue growth 19 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.
+0.0%
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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.
−14.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.7%
Dividend (yield on the price)4.6%
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.−18.7% vs −10.9%, 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% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+2.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +0.3% a year for the price and −1.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 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: Thin public signals point to only modest competitive advantage in specialty chemicals with low returns on capital, while limited pricing power remains the central weakness reflected in subdued ROE and margins.
Main risk: Lower-cost Asian producers such as Adisseo and Wanhua could expand capacity and use pricing pressure to erode Evonik's margins and market share in animal nutrition and specialty additives.
Bull case: Evonik could accelerate portfolio pruning toward high-margin specialties, deepen customer co-development and capture efficiency gains from its restructuring to offset cost pressures and defend its positions.
Bear case: Persistent Asian capacity additions and sustained European cost disadvantages could force repeated price concessions, erode specialty margins and limit the ability to fund innovation or meet return targets as a standalone company.
Evonik turned down BASF's initial takeover approach as too low. Sources close to the bidder indicate a higher offer could follow if formal talks begin, while the RAG Foundation has been briefed yet stays non-committal ahead of November results. Will its specialty chemicals operations unlock more value through continued independence and efficiency measures, or through synergies inside a larger group?
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.Specialty Chemicals · 727 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−4.2% · Above median
Profitability
Return on equity (12 months)1.6% · Bottom 25%
Return on assets1.4% · Below median
Net margin (12 months)0.9% · Bottom 25%
Operating margin (12 months)4.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)11.3% · Below median
Dividend yield (12 months)4.6% · Top 25%
Balance sheet
Debt / equity0.32× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Evonik Industries AG Fair Value". https://www.fairvalue-calculator.com/stock/EVK
Frequently asked questions
Is Evonik Industries AG (EVK) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of €20.62 versus a price of €21.52, about 4% lower (fairly valued).
What is the fair value of EVK?
Our model-based fair value for Evonik Industries AG is €20.62 (as of Nov 4, 2026), built from audited fundamentals. The current price: €21.52.
What is the quality score of EVK?
Evonik Industries AG has a Quality Score of 54/100. 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 Evonik Industries AG (EVK)?
Our model-based price target is the fair value of €20.62 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario €18.03, optimistic scenario €24.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Evonik Industries AG stock forecast for 2026?
Our models put fair value at €20.62, about 4% lower versus a price of €21.52 (fairly valued). Cautious scenario €18.03, optimistic scenario €24.91. The calculation is refreshed regularly with new filings.
What is the revenue of Evonik Industries AG (EVK)?
Evonik Industries AG reported trailing-twelve-month revenue of about €14.1B (latest available figure, as of Nov 4, 2026).
Does Evonik Industries AG pay a dividend?
Evonik Industries AG currently shows a dividend yield of 4.65% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Evonik Industries AG (EVK)?
For today's price to be fair in a discounted-cash-flow model, Evonik Industries AG would have to grow free cash flow by +2.5 % per year for five years (discount rate 7.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.9 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of EVK use?
Our models discount Evonik Industries AG at 7.9 %: a base by market capitalisation (large), damped by beta 0.50, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Evonik Industries AG that is +2.5 % per year a year over ten years, using the same discount rate (7.9 %) and the same formula as our fair value.
How much growth has Evonik Industries AG (EVK) delivered so far?
Over the past 5 years revenue at Evonik Industries AG grew +2.9 % a year. The price currently implies +2.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Evonik Industries AG (EVK) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Evonik Industries AG (+2.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Evonik Industries AG (EVK)?
The free-cash-flow yield on the price is 6.93 %: that much free cash flow Evonik Industries AG produces per unit of market value. When it exceeds the discount rate of our models (7.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Evonik Industries AG (EVK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Evonik Industries AG it is €20.62 per share (as of Nov 4, 2026), against a price of €21.52. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Evonik Industries AG stock overvalued or undervalued in 2026?
As of Nov 4, 2026, EVK trades above its calculated fair value: price €21.52, fair value €20.62, a gap of about −4% (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 EVK?
No. The price is what the market pays today (€21.52); the fair value is what the company's own numbers justify (€20.62). For Evonik Industries AG the two are €0.9041 per share apart. That gap is exactly why we show both numbers side by side.
How much is Evonik Industries AG worth?
The market values Evonik Industries AG at about €10.0B (market capitalisation, as of Nov 4, 2026). Per share that is €21.52; our models calculate a fair value of €20.62 per share.
What do the bullish and bearish scenarios say about EVK?
Our models span a range for Evonik Industries AG: cautious scenario €18.03, base €20.62, optimistic €24.91 per share (as of Nov 4, 2026, price €21.52). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EVK?
Evonik Industries AG trades at a price-to-earnings ratio of 58.2 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €20.62 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 17.8. Other multiples: PEG 6.2, P/B 1.2, P/S 0.7, EV/EBITDA 7.1.
What is the PEG ratio of EVK?
The PEG ratio of Evonik Industries AG is 6.23 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Evonik Industries AG (EVK)?
Balance-sheet figures for Evonik Industries AG (as of Nov 4, 2026): return on equity 1.6%, debt of 0.32 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is EVK from its 52-week high?
Evonik Industries AG trades at €21.52, at its 52-week high of €21.52 and 81% above the low of €11.87 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of €20.62 is for.
Which stocks are comparable to Evonik Industries AG?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Evonik Industries AG stock attractive at the current price?
The data as of Nov 4, 2026: price €21.52, calculated fair value €20.62 (−4%), Quality Score 54/100, from 24 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 EVK calculated?
We run Evonik Industries AG through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €20.62, 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 15.5% above its aggregate fair value. Evonik Industries 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 Evonik Industries AG (EVK)?
The closing price on Nov 5, 2026 was €21.52. Our model-based fair value is €20.62, about 4% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Evonik Industries AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Evonik Industries AG (EVK) come from?
Earnings per share at Evonik Industries AG grew −11.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.2 %, EBIT margin −6.1 %, tax rate −1.8 %, residual (interest, one-offs) −5.5 %. 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 Evonik Industries AG
How large is the market capitalisation of Evonik Industries AG (EVK)?
The market capitalisation of Evonik Industries AG is €10.0B. 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 Evonik Industries AG (EVK)?
The price-to-sales ratio of Evonik Industries AG is 0.71 (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 Evonik Industries AG (EVK)?
Earnings per share at Evonik Industries AG are €0.3700 (price ÷ EPS = P/E 58.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Evonik Industries AG (EVK)?
The dividend yield of Evonik Industries AG is 4.6%. 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 Evonik Industries AG (EVK)?
The net margin of Evonik Industries AG is 0.9% (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 Evonik Industries AG (EVK)?
The return on equity (ROE) of Evonik Industries AG is 1.6% (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 Evonik Industries AG (EVK)?
On an EBIT basis the return on assets of Evonik Industries AG is 4.7% (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 Evonik Industries AG (EVK)?
The operating margin of Evonik Industries AG is 4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Evonik Industries AG (EVK)?
Revenue at Evonik Industries AG is growing +11.3% versus a year earlier (3y avg −8.7%). 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 Evonik Industries AG (EVK)?
Earnings per share at Evonik Industries AG are growing −30.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Evonik Industries AG (EVK) carry?
The net debt of Evonik Industries AG is €3.4B (fiscal year 2025, ≈ 4.9 yrs of FCF). 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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Broad data
Nov 4, 2026