Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Aryzta AG is a Switzerland-based international bakery company specializing in the specialty frozen bakery sector. Headquartered in Schlieren near Zürich, it holds a leadership position in convenience bakery, offering a comprehensive range of bake-off products and services for in-store bakeries. The company supplies high-quality frozen baked goods, including artisan breads, French-style products under brands like Delice de France and Cuisine de France, and burger buns notably for McDonald's, to retail, quick service restaurants, and food service channels. Aryzta AG operates 53 bakeries and kitchens across Europe, Asia, Australia, New Zealand, and other regions, with significant sales in Germany, France, Switzerland, and the rest of the world. Originating from the Irish Co-Operative Agricultural Agency Society founded in 1897, it evolved through mergers, such as with Hiestand Holding AG in 2008, and strategic divestitures including North American and Brazilian operations. Employing around 7,654 people, Aryzta AG stands as one of the largest frozen bakery companies globally, emphasizing innovation in products like sourdough and specialty breads.
Operating margin is thin at 7.80%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 1.3%, essentially flat. This is a business that needs a catalyst.
Free cash flow declined 22% versus the prior year, cash generation momentum has weakened. Net debt of €646M represents 4.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€2.22B
▲ +1.3% YoY
Net Income (TTM)
€112M
▼ -13.3% YoY
Op. Margin
7.80%
▼ -0.9pp YoY
ROIC
11.08%
▼ -1.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€160M
▼ -21.9% YoY
Op. Cash Flow (TTM)
€160M
▼ -44.2% YoY
Net Debt
€646M
Cash & Equiv.
€69M
3Y CAGR: +10.7%
3Y CAGR: +15.6%
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