Stock 1COV COVESTRO
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Financials Covestro LIQUIDNET SYSTEMS

Equities

1COV

DE0006062144

Commodity Chemicals

Real-time Estimate Tradegate
Other stock markets
 03:59:58 2024-07-17 pm EDT 		5-day change 1st Jan Change
54.95 EUR 0.00% Intraday chart for Covestro 0.00% 0.00%
03:09pm Lanxess makes a leap in earnings in the second quarter - shares on the upswing RE
Jul. 15 COVESTRO : UBS sticks Neutral ZD

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,573 9,746 10,463 7,060 9,943 10,369 - -
Enterprise Value (EV) 1 8,562 10,102 11,868 9,494 12,430 12,926 12,592 12,224
P/E ratio 13.7 x 20.4 x 6.48 x -25.7 x -50.2 x 84.6 x 22 x 16.2 x
Yield 5.79% 2.58% 6.27% - - 0.55% 2.14% 2.6%
Capitalization / Revenue 0.61 x 0.91 x 0.66 x 0.39 x 0.69 x 0.71 x 0.67 x 0.64 x
EV / Revenue 0.69 x 0.94 x 0.75 x 0.53 x 0.86 x 0.89 x 0.81 x 0.76 x
EV / EBITDA 5.34 x 6.86 x 3.85 x 5.87 x 11.5 x 10.4 x 7.69 x 6.51 x
EV / FCF 18.1 x 19.1 x 8.31 x 68.8 x 53.6 x 63.3 x 23.3 x 17.3 x
FCF Yield 5.52% 5.25% 12% 1.45% 1.87% 1.58% 4.29% 5.78%
Price to Book 1.45 x 1.74 x 1.87 x 0.98 x 1.51 x 1.56 x 1.46 x 1.38 x
Nbr of stocks (in thousands) 182,705 193,065 193,049 193,161 188,740 188,740 - -
Reference price 2 41.45 50.48 54.20 36.55 52.68 54.84 54.84 54.84
Announcement Date 2/19/20 2/23/21 3/1/22 3/2/23 3/12/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 12,412 10,706 15,903 17,968 14,377 14,549 15,495 16,145
EBITDA 1 1,604 1,472 3,085 1,617 1,080 1,247 1,638 1,877
EBIT 1 852 696 2,262 267 186 388.4 761.7 981.1
Operating Margin 6.86% 6.5% 14.22% 1.49% 1.29% 2.67% 4.92% 6.08%
Earnings before Tax (EBT) 1 761 605 2,185 130 73 279.1 706.3 904.6
Net income 1 552 459 1,616 -272 -198 122.6 542.6 644.6
Net margin 4.45% 4.29% 10.16% -1.51% -1.38% 0.84% 3.5% 3.99%
EPS 2 3.020 2.480 8.370 -1.420 -1.050 0.6479 2.488 3.379
Free Cash Flow 1 473 530 1,429 138 232 204.2 540.6 706.4
FCF margin 3.81% 4.95% 8.99% 0.77% 1.61% 1.4% 3.49% 4.38%
FCF Conversion (EBITDA) 29.49% 36.01% 46.32% 8.53% 21.48% 16.37% 33.02% 37.64%
FCF Conversion (Net income) 85.69% 115.47% 88.43% - - 166.58% 99.65% 109.58%
Dividend per Share 2 2.400 1.300 3.400 - - 0.3016 1.175 1.426
Announcement Date 2/19/20 2/23/21 3/1/22 3/2/23 3/12/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 4,338 4,683 4,703 4,618 3,964 3,743 3,720 3,568 3,346 3,510 3,688 3,852 3,809 - -
EBITDA 1 663 806 547 302 -38 286 385 277 132 273 320.7 390 322 - -
EBIT 1 445 589 307 66 -695 39 166 - -90 - 142 175 105 - -
Operating Margin 10.26% 12.58% 6.53% 1.43% -17.53% 1.04% 4.46% - -2.69% - 3.85% 4.54% 2.76% - -
Earnings before Tax (EBT) 1 435 561 263 26 -720 10 130 - -103 - 108 140 66 - -
Net income 1 302 416 199 12 -899 -26 46 -31 -187 -35 53 85 41.31 - -
Net margin 6.96% 8.88% 4.23% 0.26% -22.68% -0.69% 1.24% -0.87% -5.59% -1% 1.44% 2.21% 1.08% - -
EPS 2 1.580 2.150 1.040 0.0600 -4.700 -0.1400 0.2400 -0.1600 -0.9900 -0.1900 0.2800 0.4500 0.2194 - -
Dividend per Share 2 3.400 - - - - - - - - - - - - - -
Announcement Date 3/1/22 5/3/22 8/2/22 10/25/22 3/2/23 4/28/23 8/1/23 10/27/23 3/12/24 5/2/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 989 356 1,405 2,434 2,487 2,557 2,222 1,854
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.6166 x 0.2418 x 0.4554 x 1.505 x 2.303 x 2.05 x 1.357 x 0.9881 x
Free Cash Flow 1 473 530 1,429 138 232 204 541 706
ROE (net income / shareholders' equity) 10.5% 8.49% 24.3% -3.68% -2.9% 1.88% 6.73% 9.16%
ROA (Net income/ Total Assets) 4.89% 3.76% 11.3% -1.8% -1.4% -1.39% 2.3% 3.9%
Assets 1 11,300 12,221 14,248 15,078 14,111 -8,819 23,578 16,550
Book Value Per Share 2 28.50 29.00 29.00 37.30 34.90 35.10 37.60 39.70
Cash Flow per Share 2 7.570 6.670 11.40 5.080 5.280 4.810 6.810 8.160
Capex 1 910 704 764 832 765 795 866 916
Capex / Sales 7.33% 6.58% 4.8% 4.63% 5.32% 5.46% 5.59% 5.67%
Announcement Date 2/19/20 2/23/21 3/1/22 3/2/23 3/12/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Covestro

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
54.84 EUR
Average target price
57.07 EUR
Spread / Average Target
+4.07%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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