Added to YB: 2026-08-27
Pitch date: 2026-08-18
BEI.DE [bullish]
Beiersdorf Aktiengesellschaft
+5.2%
current return
Author Info
DB_Silver_Fox is a CFO and value investor interested in: European & US hidden champions, simple and effective business models, and US Banks. Sign up for the newsletter.
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 17.7B
Pitch Price
EUR 76.90
Price Target
N/A
Dividend
1.23%
EV/EBITDA
9.08
P/E
18.95
EV/Sales
1.56
Sector
Personal Care Products
Category
growth
DB_Silver_Fox | Portfolio update as of 11.08.2026 - Beiersdorf Aktiengesellschaft
BEI.DE (added to position): Cites prudent capital allocation and brand moat: over the 5-year period the company invested €2.8bn in CAPEX+M&A (60.5% of CFO, including growth CAPEX and the Chantecaille Beaute acquisition), added €1.29bn cash, distributed €927m in dividends and ~€1bn in buybacks, and reduced debt by €566m, leaving more cash than debt; priority is increasing market share and top-line growth; stock ~€80, ~46% below all-time high. Author states risks: premium end (below 10% of consumer segment sales) concentrates risk — La Prairie carries a disproportionate share of group profit against materially weakened Chinese and travel-retail demand, and Chantecaille sits with €452m goodwill from a €529m purchase at over 5x sales at the prestige-beauty peak; moat already breached once as L'Oréal built CeraVe into a global dermatological brand in a decade with Eucerin now competing directly; new Leipzig and Poznań capacity came online as organic growth decelerated from 7.1% to 2.1%.
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