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.
Corbion N.V. is a Dutch public limited company specializing in food ingredients and biochemicals, headquartered in Amsterdam, Netherlands. Originally founded in 1919 as Centrale Suiker Maatschappij (CSM), a sugar processing entity, it evolved through diversification into foods, bakery supplies, and fermentation-based products before rebranding to Corbion in 2013 to focus exclusively on bio-based ingredients and solutions. The company leverages over a century of expertise in lactic acid production and derivatives, offering sustainable solutions for food preservation, nutrition enhancement, antioxidants, and mold inhibition using natural fermentation processes. Corbion's portfolio also includes functional ingredient blends, algae-derived nutritional ingredients like omega-3s, and bioplastics such as polylactic acid (PLA) through ventures like Total Corbion PLA. Key acquisitions, including TerraVia in 2017 for microalgae innovations and Granotec do Brazil in 2019, have expanded its global reach in food, pharmaceutical, and biochemical sectors. Organized under a two-tier board system, Corbion emphasizes sustainability, innovation, and stakeholder interests in addressing demands for safe, longer-lasting products worldwide.
Operating margin is thin at 9.19%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.6% YoY. The question is whether this is cyclical or a structural shift.
Net debt of €402M represents 4.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€1.27B
▼ -1.6% YoY
Net Income (TTM)
€75M
▼ -61.1% YoY
Op. Margin
9.19%
▲ +3.3pp YoY
ROIC
7.43%
▲ +3.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€93M
▼ -7.2% YoY
Op. Cash Flow (TTM)
€93M
▼ -70.9% YoY
Net Debt
€402M
Cash & Equiv.
€45M
3Y CAGR: -4.6%
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