Added to YB: 2026-05-04
Pitch date: 2026-04-30
BEI.DE [neutral]
Beiersdorf Aktiengesellschaft
Author Info
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Company Info
Beiersdorf Aktiengesellschaft, together with its subsidiaries, manufactures and distributes consumer goods in Europe, the United States, Africa, Asia, and Australia.
Market Cap
EUR 15.3B
Pitch Price
N/A
Price Target
N/A
Dividend
1.43%
EV/EBITDA
7.73
P/E
16.51
EV/Sales
1.32
Sector
Personal Care Products
Category
value
Beiersdorf: German consumer-darling on the sale rack?
BEI.DE (pass): Down 50% from highs, trades 16.7x fwd PE (lowest ever vs hist 24-30x). Q1 2026 organic sales -4.6%, Nivea -7% YoY. Gross & op margins falling since 2016. FCF collapsed to 10yr low on weak earnings & WC issues. €2.3B net cash (EV €13B), but EV/FCF >20x too rich given -growth, margin pressure, tariff/inflation headwinds. Mgmt guides H2 recovery, but author skeptical. Brand moat weak vs private label/intl competitors. Not cheap enough despite surface appeal.
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