Stock COVTY COVESTRO AG
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Financials Covestro AG OTC Markets

Equities

COVTY

US22304D2071

Commodity Chemicals

Market Closed - OTC Markets
Other stock markets
 03:46:18 2024-04-26 pm EDT 		5-day change 1st Jan Change
25.75 USD +0.44% Intraday chart for Covestro AG -0.23% -11.86%
Apr. 17 Covestro Says No Deadline to Conclude ADNOC talks, to Take the Necessary Time to Conclude ADNOC talks CI
Apr. 17 Covestro takeover by oil group Adnoc still up in the air DP

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,573 9,746 10,463 7,060 9,943 9,073 - -
Enterprise Value (EV) 1 8,562 10,102 11,868 9,494 12,430 11,678 11,313 10,953
P/E ratio 13.7 x 20.4 x 6.48 x -25.7 x -50.2 x 52.1 x 15.7 x 11.6 x
Yield 5.79% 2.58% 6.27% - - 0.99% 2.86% 3.31%
Capitalization / Revenue 0.61 x 0.91 x 0.66 x 0.39 x 0.69 x 0.61 x 0.58 x 0.55 x
EV / Revenue 0.69 x 0.94 x 0.75 x 0.53 x 0.86 x 0.79 x 0.72 x 0.67 x
EV / EBITDA 5.34 x 6.86 x 3.85 x 5.87 x 11.5 x 8.72 x 6.58 x 5.53 x
EV / FCF 18.1 x 19.1 x 8.31 x 68.8 x 53.6 x 34.3 x 23.6 x 15.5 x
FCF Yield 5.52% 5.25% 12% 1.45% 1.87% 2.91% 4.24% 6.46%
Price to Book 1.45 x 1.74 x 1.87 x 0.98 x 1.51 x 1.36 x 1.26 x 1.19 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 48.07 48.07 48.07
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 14,756 15,740 16,427
EBITDA 1 1,604 1,472 3,085 1,617 1,080 1,339 1,718 1,979
EBIT 1 852 696 2,262 267 186 487.5 835.1 1,075
Operating Margin 6.86% 6.5% 14.22% 1.49% 1.29% 3.3% 5.31% 6.55%
Earnings before Tax (EBT) 1 761 605 2,185 130 73 350.1 770 1,048
Net income 1 552 459 1,616 -272 -198 138 599.5 804.6
Net margin 4.45% 4.29% 10.16% -1.51% -1.38% 0.94% 3.81% 4.9%
EPS 2 3.020 2.480 8.370 -1.420 -1.050 0.9230 3.053 4.141
Free Cash Flow 1 473 530 1,429 138 232 340.1 479.7 708
FCF margin 3.81% 4.95% 8.99% 0.77% 1.61% 2.3% 3.05% 4.31%
FCF Conversion (EBITDA) 29.49% 36.01% 46.32% 8.53% 21.48% 25.41% 27.92% 35.78%
FCF Conversion (Net income) 85.69% 115.47% 88.43% - - 246.43% 80.02% 88%
Dividend per Share 2 2.400 1.300 3.400 - - 0.4776 1.377 1.590
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 Q3 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
Net sales 1 4,302 4,338 4,683 4,703 4,618 3,964 3,743 3,720 3,568 3,346 3,550 - - - -
EBITDA 1 862 663 806 547 302 -38 286 385 277 132 218.5 - - - -
EBIT 654 445 589 307 66 -695 39 166 - -90 - - - - -
Operating Margin 15.2% 10.26% 12.58% 6.53% 1.43% -17.53% 1.04% 4.46% - -2.69% - - - - -
Earnings before Tax (EBT) 634 435 561 263 26 -720 10 130 - -103 - - - - -
Net income 472 302 416 199 12 -899 -26 46 -31 -187 - - - - -
Net margin 10.97% 6.96% 8.88% 4.23% 0.26% -22.68% -0.69% 1.24% -0.87% -5.59% - - - - -
EPS 2 2.440 1.580 2.150 1.040 0.0600 -4.700 -0.1400 0.2400 -0.1600 -0.9900 0.003250 -0.0682 -0.0626 -0.0525 -
Dividend per Share 2 - 3.400 - - - - - - - - - - - - -
Announcement Date 11/9/21 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 - - - - -
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 2,606 2,240 1,881
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.6166 x 0.2418 x 0.4554 x 1.505 x 2.303 x 1.947 x 1.304 x 0.9503 x
Free Cash Flow 1 473 530 1,429 138 232 340 480 708
ROE (net income / shareholders' equity) 10.5% 8.49% 24.3% -3.68% -2.9% 2.3% 7.63% 9.9%
ROA (Net income/ Total Assets) 4.89% 3.76% 11.3% -1.8% -1.4% 0.18% 3.87% 5.28%
Assets 1 11,300 12,221 14,248 15,078 14,111 77,146 15,500 15,247
Book Value Per Share 2 28.50 29.00 29.00 37.30 34.90 35.30 38.10 40.40
Cash Flow per Share 2 7.570 6.670 11.40 5.080 5.280 4.370 7.170 8.510
Capex 1 910 704 764 832 765 805 900 947
Capex / Sales 7.33% 6.58% 4.8% 4.63% 5.32% 5.46% 5.72% 5.77%
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 AG

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
48.07 EUR
Average target price
53.14 EUR
Spread / Average Target
+10.55%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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