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.
Azelis Group NV is a leading global innovation service provider specializing in the distribution of specialty chemicals and food ingredients. Headquartered in Antwerp, Belgium, the company operates in 65 countries with over 4,300 employees, serving more than 62,000 customers through 2,800 principal relationships and generating €4.2 billion in revenue in 2024. Its teams of industry, market, and technical experts focus on specific markets within Life Sciences—including personal care, pharmaceuticals, food and nutrition, animal nutrition, and flavors—and Industrial Chemicals, such as coatings, advanced materials, lubricants, electronics, and textiles. Azelis supports customers with an extensive network of over 70 application laboratories, offering formulation development, technical guidance, and digital services that combine global reach with local expertise. Recognized as a sustainability leader by Sustainalytics, the company drives innovation, digitalization, and responsible practices, fostering resilient growth through organic expansion and strategic acquisitions. Azelis plays a pivotal role in the diversified industrial goods wholesale sector by bridging manufacturers and end-users, enabling product innovation and sustainable solutions across global supply chains.
Operating margin is thin at 7.58%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 2.5% YoY. The question is whether this is cyclical or a structural shift.
Net debt of €1.61B represents 4.1x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€4.13B
▼ -2.5% YoY
Net Income (TTM)
€113M
▼ -40.1% YoY
Op. Margin
7.58%
▼ -1.5pp YoY
ROIC
4.34%
▼ -1.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€397M
▲ +28.4% YoY
Op. Cash Flow (TTM)
€422M
▲ +30.6% YoY
Net Debt
€1.61B
Cash & Equiv.
€263M
3Y CAGR: +0.1%
3Y CAGR: +4.2%
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