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BASF SE (BAS) Fair Value & Analysis

Basic Materials · DE · Market cap €42.9B

BS BASF SE BAS · XETRA
Price€51.32
Fair Value€40.28
Upside-21.5%
Quality57/100
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Weak Growth
Thin margins · 2.9% net margin
Moderate debt · generates free cash flow
4.65% dividend yield
Mixed vs. peers (7/15)
Narrow moat 36/100
Evidence: High Range €36.08 – €46.98 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from €25.53 to €40.28 (+57.8%) since Jul 14, 2026. Share price +8.4% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€46.98). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

€54.00 €30.62 Fair Value €40.28 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €30.62 – €54.00 · fair‑value band €36.08 – €46.98 · the €51.32 price screens above the €40.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

BASF SE (BAS) currently trades at €51.32, while our model-based Fair Value estimate is €40.28, implying the stock looks roughly 21.5% overvalued today. We read business quality at 57/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, BASF SE generated revenue of €59.2B at a net margin of 2.9%. Revenue declined 3.0% year over year. It earns a return on equity of 4.4%. Net debt stands at €21.8B. Fundamentals as of Jul 19, 2026

Our scenario range runs from €36.08 (bear case) to €46.98 (bull case); at €51.32, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -22%, BAS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €3.18 €12.80 80
Residual Income €28.99 €29.61 €28.55 76
Rev-Margin DCF €2.81 €14.24 €28.27 74
All 24 models by family
DCF Models
FCF DCF €2.67 €13.40 38
Owner Earnings €6.55 31
5Y Revenue Exit €2.81 €13.90 €30.28 39
5Y EBITDA Exit €24.46 €51.02 €86.69 41
5Y P/E Exit €2.41 €13.20 €26.27 38
10Y Revenue Exit €8.36 €18.00 36
10Y EBITDA Exit €13.66 €31.97 €52.52 37
10Y P/E Exit €0.2100 €7.92 €15.54 35
Earnings-Based
Graham-Dodd €12.45 €17.44 €20.36 54
EPV €2.88 €5.48 59
Dividend Discount
Gordon GGM €21.66 €24.02 €27.35 70
DDM Multi-Stage €21.66 €27.90 €36.17 61
Multiples
P/E Multiple €27.46 €36.62 €45.77 63
P/S Multiple €23.34 €31.12 €38.90 58
P/B Multiple €23.34 €31.12 €38.90 55
EV/EBIT €21.19 €34.22 €47.25 53
EV/EBITDA €51.10 €74.09 €97.09 54
EV/Revenue €8.46 €19.75 €31.04 43
Asset-Based
NCAV (Graham) €18.77 €25.15 €37.54 50
Growth DCF
Growth DCF €3.18 €12.80 80
Rev-Margin DCF €2.81 €14.24 €28.27 74
Economic Profit
Residual Income €28.99 €29.61 €28.55 76
ROIC Compounder €2.88 €5.48 72
Growth Earnings
Growth-Adj P/E €19.43 €27.75 €36.08 68

Widest divergence: Multiples (€31.12) versus Earnings-Based (€2.88). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €59.2B
Revenue growth (YoY) -3.0%
Net margin 2.9%
Return on equity 4.4%
Free cash flow €1.3B FY2025
P/E ratio 29.9
More key figures
Operating margin 7.7%
EPS (TTM) €1.70
Dividend yield 4.4%
EPS growth (YoY) +16.6%
Net debt €21.8B FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 51 · Market factors (momentum, volatility) 64

Profitability 33
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 84
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates.

Full company description

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for the plastics and plastics processing industries. The Industrial Solutions segment develops and markets ingredients and additives for industrial applications, such as polymer dispersions, resins, additives, chemical and refining catalysts, electronic materials, and antioxidants for automotive, petrochemical and petroleum processing, plastics and electronics, construction, electronics, paper coatings, and energy and resources industries. The Surface Technologies segment provides catalysts, battery materials, automotive OEM and refinish coatings, surface treatment, and precious and base metal services for the automotive and chemical industries. The Nutrition & Care segment offers ingredients for consumer applications in the areas of nutrition, home, and personal care applications; and serves the food and feed producers, pharmaceutical, cosmetics, detergents, and cleaner industries, as well as the consumer goods sector. The Agricultural Solutions segment provides seeds and traits, and seed treatment products; fungicides, herbicides, insecticides, and biological crop protection products; and digital solutions. The company engages in engineering and other; rental and leasing; and renewable energy trading, commodity trading activities. BASF SE was founded in 1865 and is headquartered in Ludwigshafen am Rhein, Germany.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BASF SE reported revenue of €59.7B in FY2025 versus €78.6B in FY2021, a compound −6.7%/yr. Reported net income was €1.6B in FY2025, compounding −26.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€59.7B
Latest YoY
−2.9%
Avg. growth/yr (3Y)
−11.9%
Avg. growth/yr (5Y)
+0.2%
Avg. growth/yr (26Y)
+2.5%
Revenue −6.7%/yr
FY21 €78.6B
FY22 €87.3B
FY23 €68.9B
FY24 €61.4B
FY25 €59.7B
Net income −26.4%/yr
FY21 €5.5B
FY22 −€627M
FY23 €225M
FY24 €1.3B
FY25 €1.6B

BAS screens 22% overvalued. Compare with Ningxia Baofeng Energy Group →

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Cite: Fair Value Calculator (2026). "BASF SE Fair Value". https://www.fairvalue-calculator.com/stock/BAS

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Chemicals · 334 stocks

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.

Quality Score 57 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 8% · Above median
Revenue growth -3% · Below median
Dividend yield (TTM) 4.7% · Top 25%
Debt / equity 0.56× · Higher than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 28.6× · Pricier than median
P/B 1.49× · Cheaper than median
P/S (TTM) 0.84× · Cheaper than median
P/FCF 36.9× · Pricier than 75% of peers
EV/EBITDA 11.3× · Pricier than median
PEG 0.71× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 5 · sector 0
FUTURE 0 · sector 19
PAST 18 · sector 19
HEALTH 72 · sector 93
DIVIDEND 93 · sector 27

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹7,647 ₹2,200 -71%
Deepak Nitrite Limited DEEPAKNTR ₹1,662 ₹686.18 -59%

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Frequently asked questions

Is BASF SE (BAS) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €40.28 versus a price of €51.32, about −22% (overvalued).
What is the fair value of BAS?
Our model-based fair value for BASF SE is €40.28 (as of Jul 19, 2026), built from audited fundamentals. The current price is €51.32.
What is the quality score of BAS?
BASF SE has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of BASF SE (BAS)?
BASF SE reported trailing-twelve-month revenue of about €59.2B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of BAS?
The net profit margin of BASF SE is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does BASF SE pay a dividend?
BASF SE currently shows a dividend yield of about 4.44% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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