BASF SE
5-year stock timeline
BASF (BAS.XETRA) — 2020–2026 timeline
The past six years have traced a path from disruption through crisis to tentative recovery. In 2020–21, COVID created near-term turbulence—sales held up while operating profit dipped—and the company restructured its executive board, redistributing responsibilities under new leadership including Melanie Maas-Brunner.
The real inflection came in 2022. The stock hit an annual high near €68.69 in February before the Russia-Ukraine conflict and European energy crisis upended the picture. Rising gas costs squeezed margins across the business. BASF exited Russian positions (notably Wintershall Dea) and booked substantial charges that crushed both EBIT and net income for the year.
What followed was a grinding correction. Through 2023 and into 2024, management pursued aggressive cost-cutting while results remained choppy—quarterly swings and revised guidance became the rhythm. The market's lens shifted: BASF went from being seen as a large, cyclical chemical name to being labeled energy-exposed and structurally vulnerable. By 2023, the narrative had softened slightly toward a turnaround story, but caution lingered because earnings kept stuttering and end-market demand stayed weak.
The chart itself tells the story. After that February 2022 peak, a pronounced decline carved out the year. 2023 saw the stock drift sideways and lower, retesting weakness with occasional bounces tied to earnings updates. From 2024 through early 2026, a multi-year base began forming—consolidation punctuated by selective rallies. The share now sits around €52.4 as of April 2026, having worked through most of the shock but not yet fully recovered. By 2025–26, sentiment had gradually warmed toward valuation and pockets of earnings recovery as energy headlines faded, though conviction remained measured.
Key risks and downside factors
BASF competes in a densely populated global chemicals market against established European players like Evonik and Covestro, alongside larger international operators such as Dow and LyondellBasell. The company faces persistent pressure from lower-cost competitors while navigating cyclical demand across automotive, construction, and packaging sectors. Feedstock and energy costs swing unpredictably, creating margin headwinds. Regulatory and environmental requirements add another layer of complexity, and the company's exposure to currency fluctuations and global supply-chain disruptions creates meaningful earnings variability.
- Volatile feedstock and energy prices can materially compress margins and increase production costs [9].
- Pricing and market share face pressure from both large global producers and lower-cost regional competitors [1][4].
- Regulatory and environmental compliance requirements—along with potential remediation liabilities—demand substantial capital deployment and can meaningfully pressure profitability.
- Demand in key end markets—automotive, construction, packaging—moves with economic cycles, and downturns can sharply compress both volumes and revenue.
Competitive landscape
BASF operates across integrated chemicals, performance materials, and agricultural solutions in a fragmented competitive landscape. It faces pressure from large petrochemical majors on one side and nimble specialty players on the other—a dynamic that squeezes margins and demands significant capital deployment. The public company roster includes Covestro, Evonik, LyondellBasell, Dow, and SABIC. Private specialty firms and state-owned competitors add further layers of regional capacity and pricing discipline to the mix.
| Company | Ticker |
|---|---|
| Evonik Industries AG | EVK.XETRA |
| Covestro AG | 1COV.XETRA |
| LyondellBasell Industries N.V. | LYB.NYSE |
| Dow Inc. | DOW.NYSE |
Private competitors
- Solenis [web:1]
- Sinochem International (state-owned/private grouping) [web:1]
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Relative Performance vs Benchmarks
| Period | BASF SE | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | +10.71% | +16.68% | +15.70% |
| 3M | +17.94% | +23.34% | +22.31% |
| 6M | +18.36% | +23.33% | +20.63% |
| 1Y | +18.34% | +15.56% | +1.08% |
| 3Y | +31.62% | -16.61% | -33.46% |
| 5Y | +0.78% | -52.57% | -73.04% |
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How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 29.0 | 0.8 | 1.4 | 8.4 |
| 1Y ago | 55.4 | 0.6 | 1.1 | 6.3 |
| 3Y ago | -153.1 | 0.5 | 1.1 | 6.2 |
| 5Y ago | -286.6 | 1.1 | 1.6 | 11.0 |
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 2.25 EUR | — | 4.74% |
| 2025 | 2.25 EUR | 5.07% | |
| 2024 | 3.40 EUR | 6.67% | |
| 2023 | 3.40 EUR | 7.08% | |
| 2022 | 3.40 EUR | 6.74% | |
| 2021 | 3.30 EUR | 4.68% | |
| 2020 | 3.30 EUR | 7.07% | |
| 2019 | 3.20 EUR | 4.39% | |
| 2018 | 3.10 EUR | 3.57% | |
| 2017 | 3.00 EUR | 3.35% | |
| 2016 | 2.90 EUR | 4.02% | |
| 2015 | 2.80 EUR | 3.13% | |
| 2014 | 2.70 EUR | 3.21% | |
| 2013 | 2.60 EUR | 3.58% | |
| 2012 | 2.50 EUR | 3.83% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 59.66B | 61.44B | 68.90B | 87.33B | 78.60B |
| Operating income (EBIT) | 2.56B | 3.38B | 3.81B | 6.76B | 6.95B |
| Net income | 1.62B | 1.30B | 225.00M | -627.00M | 5.52B |
| Free cash flow | 1.34B | 748.00M | 2.72B | 3.33B | 3.71B |
| Total assets | 78.02B | 80.42B | 79.93B | 84.47B | 87.38B |
| Equity | 33.19B | 35.60B | 35.28B | 36.60B | 40.79B |
| Net debt | 21.75B | 21.08B | 18.72B | 18.43B | 16.51B |
PWP Leeway UG (haftungsbeschränkt)
