BASF SE
5-year stock timeline
BASF (BAS.XETRA) — using the latest price 51.09 as the reference — concise 2020–2026 timeline below covering the material events, evolving investor narrative, and key technical phases.
Major events
BASF closed 2020 with a strong fourth quarter, proposed a €3.30 per-share dividend and issued an upbeat 2021 outlook after pandemic weakness. The Russian war of aggression against Ukraine in 2022 sharply raised energy and raw-material costs, producing roughly €3.2 billion in additional energy costs and large impairments—notably on the Wintershall Dea holding—that pushed group net income into negative territory. From 2023 through 2025 management executed a series of portfolio moves and restructurings: emissions-catalyst activities were carved out (ECMS) in 2023, BASF signed the Wintershall Dea/Harbour combination in December 2023 and completed the sale of Wintershall Dea E&P assets in September 2024, while launching the "Winning Ways" strategy and preparing standalone or business-level options including a targeted partial IPO for Agricultural Solutions.
Investor narrative
Before the energy shock, the market largely treated BASF as a large, dividend-paying industrial chemical leader underpinned by its Verbund integration and steady payouts. After 2022 the story shifted to one of Europe-exposed, energy-intensive cyclicality with value-trap concerns as investors punished the company for energy exposure and write-downs. From 2023 onward the narrative evolved toward corporate transformation and portfolio refocusing: management emphasized cost programs, carve-outs, growth in Asia and clearer core versus standalone businesses to restore profitability and enable value-creating exits or IPOs.
Technical phases
The share hit an annual high of €68.69 on 11 February 2022 and then underwent a pronounced decline for the remainder of 2022 as energy risks and impairments weighed on sentiment. The company recorded a significant 2022 share-performance setback of roughly 19.7% for the year and subsequently traded in a lower, choppy range while strategy actions and asset-sale news arrived in 2023–2024. Announcements and completed disposals through 2024–2025—the Wintershall Dea E&P sale, carve-outs and the "Winning Ways" rollout—served as catalysts for attempts at rerating, with the market currently reflecting that transition at the reference price 51.09.
Key risks and downside factors
BASF SE (BAS.XETRA) is one of the world's largest diversified chemical producers, with operations spanning chemicals, performance products, and agricultural solutions. The competitive environment brings pressure from both global integrated majors and specialty players, which affects pricing power and the pace of innovation. The real vulnerabilities sit in commodity cyclicality, energy and feedstock cost swings, regulatory and environmental obligations, plus meaningful financial and pension exposures that deserve close attention.
- Cyclical swings in end-market demand and commodity chemical prices can meaningfully compress both revenue and margins.
- The business carries real exposure to energy and feedstock costs—natural gas, crude derivatives—which means operating costs and margins can swing harder than most investors anticipate [5].
- Regulatory, environmental, and remediation liabilities—emissions limits, chemical restrictions, and the like—tend to push compliance costs and capital expenditures higher.
- Intense competition from integrated majors and specialty producers keeps pricing under pressure, erodes market share, and demands sustained investment in R&D.
Competitive landscape
BASF operates across diversified chemicals and competes with global producers—Covestro, Evonik, DuPont, LyondellBasell and Bayer among them—in materials, agricultural solutions and performance chemicals. The overlap is real in polymers, specialty additives and crop protection. What pressures the earnings and valuation story: material price swings, regulatory and environmental liabilities, cyclic demand in end markets, and tightening competition in specialty chemicals. Nothing unusual for the sector, but the combination matters.
| Company | Ticker |
|---|---|
| Covestro AG | 1COV.XETRA |
| Evonik Industries AG | EVK.XETRA |
| LyondellBasell Industries N.V. | LYB.NYSE |
| Bayer AG | BAYN.XETRA |
Private competitors
- INEOS
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Relative Performance vs Benchmarks
| Period | BASF SE | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -1.98% | -6.24% | -7.43% |
| 3M | +9.57% | +10.53% | -0.13% |
| 6M | +18.85% | +13.79% | +8.41% |
| 1Y | +25.50% | +21.32% | -3.65% |
| 3Y | +28.95% | -28.03% | -56.72% |
| 5Y | +3.51% | -57.85% | -87.79% |
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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 | 25.8 | 0.7 | 1.3 | 7.7 |
| 1Y ago | 51.8 | 0.6 | 1.1 | 5.9 |
| 3Y ago | -148.5 | 0.5 | 1.1 | 6.0 |
| 5Y ago | -268.5 | 1.0 | 1.5 | 10.3 |
Frequently Asked Questions
Where is the BASF SE stock traded?
What does BASF SE do?
What are the key metrics for BAS.XETRA?
How has BASF SE's stock price performed?
How is BAS.XETRA valued?
Does BAS.XETRA pay dividends?
What are the key risks when investing in BAS.XETRA?
- Cyclical swings in end-market demand and commodity chemical prices can meaningfully compress both revenue and margins.
- The business carries real exposure to energy and feedstock costs—natural gas, crude derivatives—which means operating costs and margins can swing harder than most investors anticipate [web:5].
- Regulatory, environmental, and remediation liabilities—emissions limits, chemical restrictions, and the like—tend to push compliance costs and capital expenditures higher.
- Intense competition from integrated majors and specialty producers keeps pricing under pressure, erodes market share, and demands sustained investment in R&D.
Who are the main competitors of BASF SE?
- Covestro AG (1COV.XETRA)
- Evonik Industries AG (EVK.XETRA)
- LyondellBasell Industries N.V. (LYB.NYSE)
- Bayer AG (BAYN.XETRA)
When does BASF SE report earnings?
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 | 4.11% | 4.7% |
| 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)
