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1. Company Snapshot

1.a. Company Description

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 offers enzymes, surfactants, biocides, chelates, rheology modifiers, solubilisers, silicones, solvents, and functional additives; active pharmaceutical, agrochemicals, biopharma, excipients and formulation, nutraceuticals, and regulated synthesis; actives, UV sunscreens, rheology modifiers, thickeners, emulsifiers, emollients, elastomers, humectants, waxes, film formers, functional powders, hair styling polymers, hair conditioners, solvents, solubilizers, pigments, pearls, colorants, opacifiers, pearlisers, preservatives, antioxidants, additives, fragrances, and essential oils; and resins and binders, additives, functional fillers, and specialty solvents.It also provides taste, texture, nutrition, and function; base oil, fuel addictive, lubricants addictive, lubricants finished fluids, solvents, degreasers and fuel, compounds, and upstream, midstream and downstream oil, gas and energy; bio-based chemicals, catalysts, intermediates, monomers, organic building blocks, processing aids, reactive diluents, solvents, and surfactants.


IMCD N.V. was founded in 1995 and is headquartered in Rotterdam, the Netherlands.

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1.b. Last Insights on IMCD

IMCD N.V.'s recent performance was negatively impacted by macroeconomic pressures and competitive challenges. The company's operating EBITA decreased by 2% to EUR 394 million, despite a 2% increase in gross profit to EUR 927 million. Free cash flow also declined to EUR 284 million. However, strategic acquisitions, such as the purchase of Dong Yang FT and Tillmanns, are expected to strengthen the company's position in the beauty and personal care sectors. Additionally, IMCD's resilient segments and steady growth in gross profit and revenue are notable.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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IMCD (ENXTAM:IMCD): Assessing Valuation After Recent Share Price Slide

Nov -15

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IMCD NV (IMCDY) Q3 2025 Earnings Call Highlights: Strategic Acquisitions and Resilient Segments ...

Nov -11

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IMCD reports EBITA of EUR 394 million in the first nine months of 2025

Nov -06

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IMCD 2025 First Nine Months 2025 results webcast invitation

Oct -22

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IMCD to acquire Dong Yang FT to strengthen position in beauty and personal care in South Korea

Oct -16

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What Is IMCD N.V.'s (AMS:IMCD) Share Price Doing?

Oct -16

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IMCD celebrates 30 years of growth, partnership and innovation

Sep -25

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IMCD N.V. (AMS:IMCD) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?

Sep -17

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.99%)

6. Segments

Specialty Chemicals and Ingredients

Expected Growth: 6%

IMCD N.V.'s Specialty Chemicals and Ingredients segment growth is driven by increasing demand for sustainable and eco-friendly products, expansion into emerging markets, strategic acquisitions, and a strong focus on innovation and R&D. Additionally, the trend towards outsourcing and consolidation in the chemical industry, as well as the company's ability to provide customized solutions, contribute to its 6% growth.

Commissions

Expected Growth: 4%

Commissions from IMCD N.V. growth driven by increasing demand for specialty chemicals, expansion into new geographies, strategic partnerships, and investments in digitalization, resulting in a 4-fold growth. This growth is also fueled by IMCD's ability to capitalize on market trends, such as sustainability and e-commerce, and its strong relationships with suppliers and customers.

7. Detailed Products

Specialty Chemicals

IMCD N.V. offers a wide range of specialty chemicals for various industries, including coatings, adhesives, sealants, and elastomers.

Food and Nutrition

IMCD N.V. provides a variety of food ingredients and additives for the food and beverage industry, including sweeteners, emulsifiers, and flavor enhancers.

Pharmaceuticals

IMCD N.V. offers a range of pharmaceutical ingredients and excipients for the development and production of pharmaceutical products.

Personal Care

IMCD N.V. provides a variety of personal care ingredients, including surfactants, emollients, and moisturizers, for the production of cosmetics and personal care products.

Advanced Materials

IMCD N.V. offers a range of advanced materials, including nanomaterials, ceramics, and advanced polymers, for various industrial applications.

8. IMCD N.V.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for IMCD N.V. is medium due to the availability of alternative products and services in the chemical distribution market.

Bargaining Power Of Customers

The bargaining power of customers for IMCD N.V. is low due to the company's strong relationships with its customers and its ability to provide customized solutions.

Bargaining Power Of Suppliers

The bargaining power of suppliers for IMCD N.V. is medium due to the company's dependence on a few large suppliers and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants for IMCD N.V. is low due to the high barriers to entry in the chemical distribution market, including the need for specialized knowledge and infrastructure.

Intensity Of Rivalry

The intensity of rivalry for IMCD N.V. is high due to the competitive nature of the chemical distribution market and the presence of several large players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 42.51%
Debt Cost 5.41%
Equity Weight 57.49%
Equity Cost 9.21%
WACC 7.60%
Leverage 73.93%

11. Quality Control: IMCD N.V. passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 4.2/10

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Growth: 6.6

Quality: 5.0

Yield: 3.1

Momentum: 0.5

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

76.6$

Current Price

76.6$

Potential

-0.00%

Expected Cash-Flows