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DSM-Firmenich AG (DSFIR) Fair Value & Analysis

Basic Materials · CH · Market cap CHF 19.0B

DF DSM-Firmenich AG DSFIR · SW
PriceCHF 87.90
Fair ValueCHF 56.30
Upside-36.0%
Quality47/100
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Mixed Growth
Loss-making · -12.0% net margin
Low debt · generates free cash flow
Trails peers (2/14)
Narrow moat 31/100
Evidence: Medium Range CHF 36.10 – CHF 76.50 Share as image

Fair value as of: Aug 2, 2026

From 14 valuation models · updated 5 days ago

Fair value updated Aug 2, 2026, revised from CHF 30.16 to CHF 56.30 (+86.7%) since Jul 1, 2026. Share price +13.2% over the past month.

Below-average quality, and screening another 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (CHF 76.50). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (CHF 36.10 to CHF 76.50) leaves room in how you read the outcome.
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Price vs Fair Value (3 months)

CHF 87.90 CHF 60.37 Fair Value CHF 56.30 May 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 2, 2026.

How to read this chart

3‑month range CHF 60.37 – CHF 87.90 · fair‑value band CHF 36.10 – CHF 76.50 · the CHF 87.90 price screens above the CHF 56.30 fair value. As of Aug 2, 2026.

Full chart & analysis →

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Analysis

DSM-Firmenich AG (DSFIR) currently trades at CHF 87.90, while our model-based Fair Value estimate is CHF 56.30, implying the stock looks roughly 36.0% overvalued today. We read business quality at 47/100 (below-average 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: medium).

Over the trailing twelve months, DSM-Firmenich AG generated revenue of CHF 9.0B at a net margin of -12.0%. It earns a return on equity of 1.7%. Net debt stands at CHF 3.0B. The stock trades on a trailing P/E of 59.5. Fundamentals as of Aug 2, 2026

Our scenario range runs from CHF 36.10 (bear case) to CHF 76.50 (bull case); at CHF 87.90, 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 near its 52-week high and 46% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -36%, DSFIR 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 CHF 20.90 CHF 30.64 CHF 47.30 80
Rev-Margin DCF CHF 17.09 CHF 27.94 CHF 41.29 74
ROIC Compounder CHF 13.36 CHF 16.56 CHF 19.36 72
All 14 models by family
DCF Models
FCF DCF CHF 19.71 CHF 29.74 CHF 48.33 38
Owner Earnings CHF 43.11 CHF 62.33 CHF 97.93 31
5Y Revenue Exit CHF 17.09 CHF 27.34 CHF 42.25 39
5Y EBITDA Exit CHF 81.79 CHF 139.36 CHF 215.60 41
10Y Revenue Exit CHF 17.30 CHF 25.05 CHF 33.32 36
10Y EBITDA Exit CHF 57.19 CHF 94.31 CHF 135.09 37
Earnings-Based
EPV CHF 13.36 CHF 16.56 CHF 19.36 59
Multiples
EV/EBIT CHF 28.62 CHF 40.11 CHF 51.60 53
EV/EBITDA CHF 142.03 CHF 191.32 CHF 240.61 54
EV/Revenue CHF 17.38 CHF 27.34 CHF 37.30 43
Asset-Based
NCAV (Graham) CHF 36.86 CHF 49.39 CHF 73.71 50
Growth DCF
Growth DCF CHF 20.90 CHF 30.64 CHF 47.30 80
Rev-Margin DCF CHF 17.09 CHF 27.94 CHF 41.29 74
Economic Profit
ROIC Compounder CHF 13.36 CHF 16.56 CHF 19.36 72

Widest divergence: Asset-Based (CHF 49.39) versus Earnings-Based (CHF 16.56). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 9.0B
Net margin -12.0%
Return on equity 1.7%
Free cash flow CHF 651M FY2025
P/E ratio 59.5
Operating margin 7.0%
More key figures
EPS (TTM) CHF 1.11
Net debt CHF 3.0B FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 35 · Market factors (momentum, volatility) 93

Profitability 8
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
52W Momentum 92
Distance to the 52-week high (market factor)
Net Issuance 50
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

DSM-Firmenich AG provides nutrition, health, and beauty solutions in Switzerland, the Netherlands, rest of Europe, the Middle East and Africa, North America, Latin America, China, and rest of Asia. The company operates through four segments: Perfumery & Beauty; Taste, Texture & Health; Health, Nutrition & Care; and Animal Nutrition & Health.

Full company description

DSM-Firmenich AG provides nutrition, health, and beauty solutions in Switzerland, the Netherlands, rest of Europe, the Middle East and Africa, North America, Latin America, China, and rest of Asia. The company operates through four segments: Perfumery & Beauty; Taste, Texture & Health; Health, Nutrition & Care; and Animal Nutrition & Health. The Perfumery & Beauty creates scents using natural, synthetic, and biotech ingredients. The Taste, Texture & Health segment provides food and beverages solutions, including flavors, natural extracts, and sugar reduction; and food enzymes, hydrocolloids, cultures, natural colorants, nutritional ingredients, and plant-based proteins. The Health, Nutrition & Care segment provides solutions for the early life nutrition, dietary supplement, pharmaceutical, medical nutrition, biomedical materials, and nutrition improvement markets. This segment also offers vitamins, nutritional lipids, minerals, carotenoids, botanical nutraceuticals, digestive enzymes, postbiotics, probiotics and prebiotics, and active pharmaceutical ingredients; biomedical solutions; and premix, market-ready, and personalized nutrition solutions, as well as expert services in regulatory affairs and nutrition. The Animal Nutrition & Health segment offers animal proteins, vitamins, performance solutions, and data-driven precision services. The company was founded in 1902 and is based in Kaiseraugst, Switzerland.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

DSM-Firmenich AG reported revenue of CHF 9.0B in FY2025 versus CHF 8.4B in FY2022, a compound +2.5%/yr. Reported net income was −CHF 1.1B in FY2025.

Growth Quality 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
CHF 9.0B
Latest YoY
−0.2%
Avg. growth/yr (3Y)
+2.5%
Revenue +2.5%/yr
FY22 CHF 8.4B
FY23 CHF 10.6B
FY24 CHF 9.1B
FY25 CHF 9.0B
Net income
FY22 CHF 1.7B
FY23 CHF 2.1B
FY24 CHF 250M
FY25 −CHF 1.1B

DSFIR screens 36% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "DSM-Firmenich AG Fair Value". https://www.fairvalue-calculator.com/stock/DSFIR

Peer Group

Specialty Chemicals · 680 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 47 · Below median
Fair Value upside −36% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) -12% · Bottom 25%
Operating margin (TTM) 7% · Below median
Revenue growth 0% · Below median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 68.5× · Pricier than 75% of peers
P/B 1.29× · Cheaper than median
P/S (TTM) 2.60× · Pricier than median
P/FCF 36.1× · Pricier than 75% of peers
EV/EBITDA 17.3× · Pricier than median
PEG 0.76× · 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 0 · sector 0
FUTURE 0 · sector 19
PAST 7 · sector 23
HEALTH 91 · sector 95
DIVIDEND 0 · sector 24

VALUE 0: the price sits above our fair-value range.

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $520.74 $226.27 -57%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is DSM-Firmenich AG (DSFIR) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of CHF 56.30 versus a price of CHF 87.90, about −36% (overvalued).
What is the fair value of DSFIR?
Our model-based fair value for DSM-Firmenich AG is CHF 56.30 (as of Aug 2, 2026), built from audited fundamentals. The current price is CHF 87.90.
What is the quality score of DSFIR?
DSM-Firmenich AG has a Quality Score of 47/100. 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 DSM-Firmenich AG (DSFIR)?
DSM-Firmenich AG reported trailing-twelve-month revenue of about CHF 9.0B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of DSFIR?
The net profit margin of DSM-Firmenich AG is about -12.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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