IMCD N.V (IMDZF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of IMCD N.V $70.55, price $112, upside -37.3%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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IMCD N.V. distributes, markets, and sells specialty chemicals and ingredients in the Netherlands, rest of Europe, the Middle East, Africa, North America, South America, and the Asia-Pacific.
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IMCD N.V. distributes, markets, and sells specialty chemicals and ingredients in the Netherlands, rest of Europe, the Middle East, Africa, North America, South America, and the Asia-Pacific. The company provides adhesives, core materials, filler reinforcements, flame retardants, masterbatch, modifiers, operating materials, pigments, plasticizers, processing aids, PUR raw materials, rubber elastomers, solvents, stabilizers, thermoplastic elastomers, thermoplastics, thermoplastics, and other additives. It offers actives, UV sunscreens, rheology modifiers, thickeners, surfactants, emulsifiers, emollients, film formers, humectants, waxes, conditioners, hair styling polymers, solvent, solubilizers, pigments, pearls, powders and colorants, opacifiers, pearlizers, preservatives, antioxidants, fragrances, and essential oils. In addition, the company provides functional fillers, pigments, resins, and specialty solvents; taste, texture, nutrition, and function; and abrasives, acids, alkalines, anti-soil redeposition and foam control systems, bio-actives, biocides, bittering and bleaching agents, builders, capsules, chelating agents, concentrates/ready-to-use, corrosion and dye transfer inhibitors, disintegrants, dispersants, emulsifiers, enzymes, fluorinated polymers, oleo chemicals, optical brighteners, perfumes, dyes, phosphates, plasticisers, proteins, rheology modifiers and thickeners, silicones, solvents/diluents, TAED, UV-filters, and waxes. Further, it offers base oils; lubricants addictive; lubricants finished fluids; fuel additives; solvents, degreasers, and fuel compounds; and upstream, midstream, and downstream oil, gas, and energy. IMCD N.V. was founded in 1995 and is headquartered in Rotterdam, the Netherlands.
Stock analysis
IMCD N.V (IMDZF) currently trades at $112.47, while our model-based Fair Value estimate is $70.55, 37.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $101.60 per share, and 4 of the 26 models we run sit above the $112.47 price.
Bear case: the Asset-Based group reads lowest at $26.07, and 22 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $48.18 (bear) to $91.04 (bull), the price of $112.47 sits above 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 52/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
IMCD N.V reported revenue of €4.8B in FY2025 versus €3.5B in FY2021, a compound +8.5%/yr. Reported net income was €217M in FY2025, compounding +1.2%/yr from FY2021.
Key figures
Market cap $6.6B · P/E ratio 26.3 · P/S ratio 1.20 · EPS (TTM) $4.27 · Dividend yield 1.6% · Net margin 4.6% · Return on equity 10.2% · Return on assets (EBIT) 9.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Basic Materials peers we cover trades at −39% fair-value upside, at −37%, IMDZF screens cheaper than that median.
Fair Value models
Bear $48.18Fair Value $70.55Bull $91.04
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($1.86 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.Evidence ⓘEvidence = 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.
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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.0%
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.
+1.3%
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.
+11.5%
Start year 2020 (pandemic). Over 10 years: +12.1% a year
Revenue growth 14 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.
+13.0%
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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.
+12.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.5%
Dividend (yield on the price)1.6%
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.10.5% vs 11.8%, steady
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% → 8%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than 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).
+12.3%
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.
+4.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +9.9% a year for the price and +2.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
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 · 696 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−20.3% · Above median
Profitability
Return on equity (TTM)10.2% · Above median
Return on assets5.2% · Above median
Net margin (TTM)4.5% · Below median
Operating margin (TTM)7.3% · Below median
Growth and dividend
Revenue growth−1.5% · Bottom 25%
Dividend yield (TTM)1.6% · Above median
Balance sheet
Debt / equity0.63× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "IMCD N.V Fair Value". https://www.fairvalue-calculator.com/stock/IMDZF
Frequently asked questions
Is IMCD N.V (IMDZF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $70.55 versus the last price from Sep 25, 2026 of $112.47, about −37% upside (overvalued).
What is the fair value of IMDZF?
Our model-based fair value for IMCD N.V is $70.55 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $112.47.
What is the quality score of IMDZF?
IMCD N.V has a Quality Score of 52/100. 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 IMCD N.V (IMDZF)?
Our model-based price target is the fair value of $70.55 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario $48.18, optimistic scenario $91.04. It is a calculation from audited fundamentals, not an analyst target.
What is the IMCD N.V stock forecast for 2026?
Our models put fair value at $70.55, about −37% upside versus the last price from Sep 25, 2026 of $112.47 (overvalued). Cautious scenario $48.18, optimistic scenario $91.04. The calculation is refreshed regularly with new filings.
What is the revenue of IMCD N.V (IMDZF)?
IMCD N.V reported trailing-twelve-month revenue of about €4.8B (latest available figure, as of Sep 23, 2026).
Does IMCD N.V pay a dividend?
IMCD N.V currently shows a dividend yield of about 1.61% relative to its recent price (as of Sep 23, 2026).
What growth is priced into IMCD N.V (IMDZF)?
For today's price to be fair in a discounted-cash-flow model, IMCD N.V would have to grow free cash flow by +12.3 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.5 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of IMDZF use?
Our models discount IMCD N.V at 9.6 %: a base by market capitalisation (mid), damped by beta 0.94, country premium for USA. 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 IMCD N.V that is +12.3 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has IMCD N.V (IMDZF) delivered so far?
Over the past 5 years revenue at IMCD N.V grew +11.5 % a year. The price currently implies +12.3 % 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 IMCD N.V (IMDZF) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into IMCD N.V (+12.3 % 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 IMCD N.V (IMDZF)?
The free-cash-flow yield on the price is 5.23 %: that much free cash flow IMCD N.V produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of IMCD N.V (IMDZF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IMCD N.V it is $70.55 per share (as of Sep 23, 2026), against a price of $112.47. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is IMCD N.V stock overvalued or undervalued in 2026?
As of Sep 23, 2026, IMDZF trades above its calculated fair value: price $112.47, fair value $70.55, a gap of about −37% (overvalued). 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 IMDZF?
No. The price is what the market pays today ($112.47); the fair value is what the company's own numbers justify ($70.55). For IMCD N.V the two are $41.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is IMCD N.V worth?
The market values IMCD N.V at about $6.6B (market capitalisation, as of Sep 23, 2026). Per share that is $112.47; our models calculate a fair value of $70.55 per share.
What do the bullish and bearish scenarios say about IMDZF?
Our models span a range for IMCD N.V: cautious scenario $48.18, base $70.55, optimistic $91.04 per share (as of Sep 23, 2026, price $112.47). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IMDZF?
IMCD N.V trades at a price-to-earnings ratio of 26.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $70.55 is built from several models across several years. Other multiples: P/B 2.8, P/S 1.2, EV/EBITDA 13.4.
How solid is the balance sheet of IMCD N.V (IMDZF)?
Balance-sheet figures for IMCD N.V (as of Sep 23, 2026): return on equity 10.2%, debt of 0.63 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
Which stocks are comparable to IMCD N.V?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 IMCD N.V stock attractive at the current price?
The data as of Sep 23, 2026: price $112.47, calculated fair value $70.55 (−37%), Quality Score 52/100, from 26 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 IMDZF calculated?
We run IMCD N.V through 26 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 $70.55, 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 14.5 % above its aggregate fair value. IMCD N.V 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 IMCD N.V (IMDZF)?
The latest price we hold is from Sep 25, 2026 and stands at $112.47. Our model-based fair value is $70.55, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IMCD N.V right now?
The price sits above even our optimistic bull case ($91.04). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($48.18 to $91.04) leaves room in how you read the outcome.
Where does the earnings growth of IMCD N.V (IMDZF) come from?
Earnings per share at IMCD N.V grew +15.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.5 %, EBIT margin +4.0 %, tax rate −0.7 %, residual (interest, one-offs) +2.5 %. 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 IMCD N.V
How large is the market capitalisation of IMCD N.V (IMDZF)?
The market capitalisation of IMCD N.V is $6.6B. 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 IMCD N.V (IMDZF)?
The price-to-sales ratio of IMCD N.V is 1.20 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IMCD N.V (IMDZF)?
Earnings per share at IMCD N.V are $4.27 (price ÷ EPS = P/E 26.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IMCD N.V (IMDZF)?
The dividend yield of IMCD N.V is 1.6% (payout 42.4%). 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 IMCD N.V (IMDZF)?
The net margin of IMCD N.V is 4.6% (fiscal year 2025). 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 IMCD N.V (IMDZF)?
The return on equity (ROE) of IMCD N.V is 10.2% (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 IMCD N.V (IMDZF)?
On an EBIT basis the return on assets of IMCD N.V is 9.8% (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 IMCD N.V (IMDZF)?
The operating margin of IMCD N.V is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IMCD N.V (IMDZF)?
Revenue at IMCD N.V is growing −1.5% versus a year earlier (3y avg +1.3%). 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 IMCD N.V (IMDZF)?
Earnings per share at IMCD N.V are growing −37.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does IMCD N.V (IMDZF) carry?
The net debt of IMCD N.V is €1.5B (fiscal year 2025, ≈ 4.7 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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