Bayer AG NA
5-year stock timeline
Bayer AG (BAYN.XETRA) — 2020–2026 Timeline
Major company events
2020 marked the weight of the Monsanto acquisition. Bayer agreed to settle the bulk of U.S. Roundup litigation for roughly €10.1–€10.9 billion, with cash outflows stretching across 2020–2022. The balance sheet absorbed the hit, and so did the stock.
2021–2022 saw further provisions booked for legacy claims. The company ended certain consumer glyphosate retail sales in the U.S., keeping litigation risk visible and provisions a regular feature of quarterly updates.
2023 brought a leadership reset. Werner Baumann departed early; Bill Anderson took the CEO role in mid-year and initiated an organizational refresh and strategy review aimed at operational improvement. New management also moved through cleanup actions—provisions, impairments, and a broader recalibration.
2025 into early 2026 saw updated guidance and additional litigation provisions as the company pursued settlement options. February 2026 brought a proposed long-term Roundup resolution: structured payments reaching roughly €7.25 billion over many years. The headline legal uncertainty materially diminished.
How the investor narrative shifted
2020–2022 was the value-trap story. Persistent litigation risk from Monsanto made Bayer look like a conglomerate with structural overhangs. Capital allocation looked constrained, multiples compressed, and the stock underperformed.
2023 turned the page. CEO change and board action opened a turnaround narrative. Investors began repricing risk and return as strategy and leadership clarity improved.
2024–2026 saw incremental but real sentiment shift. Management clarified guidance, booked impairment reversals, and moved toward litigation resolution. The story evolved from "pure litigation risk" toward de-risking and earnings normalization. A stronger recovery in 2024–2025 followed, with optimism carrying into 2026.
Technical phases
2020–2023 was prolonged weakness. High volatility and a multi-year downtrend produced deep drawdowns. The share price materially underperformed broader indices throughout the early 2020s.
2024–2025 reversed course. A marked recovery rally occurred, driven by improving operational results, clearer guidance, and investor repositioning once management actions and partial legal clarity emerged. Year-on-year gains in 2025 were substantial.
2025–2026 shows consolidation and re-rating. The chart reflects a range around €20–€50, with 52-week highs and lows being retested. Current price sits at €38.52, reflecting this consolidation phase.
Key risks and downside factors
Bayer operates across three distinct businesses—Pharmaceuticals, Crop Science, and Consumer Health—competing against formidable global players on multiple fronts. In specialty pharma, it faces Novartis and Roche. In crop science, the pressure comes from BASF, Corteva, and Syngenta. This multi-front competition shapes the company's risk profile considerably. On top of that, healthcare regulatory and pricing scrutiny weighs on the pharma side, while ag-tech disruption and generic erosion can compress product lifecycles across both divisions.
- Intense competition across multiple segments from large pharma peers is pressuring both R&D returns and pricing power [2][1].
- Competition between integrated chemical conglomerates and specialized agrichemical companies is intensifying price pressure and fragmenting market share in crop science. [6][8]
- Regulatory and reimbursement pressure in major markets constrains both pricing power and market access for high-value drugs.
- Nimble private ag-tech startups and the rise of low-cost generics and biosimilars are compressing product lifecycles and putting margin pressure on incumbents.
Competitive landscape
Bayer operates across two structurally competitive markets. In Pharmaceuticals, it faces established global players; in Crop Science, major seeds and crop-protection competitors. Both sectors press on pricing, force difficult R&D choices, and reshape product strategy [6]. The risk picture is layered. Regulatory and product-liability exposure runs through agrochemicals and pharmaceuticals. Patent cliffs and biosimilar pressure erode specialty drug economics. Seeds and crop protection face relentless margin compression from well-capitalized rivals [1]. Beyond these structural headwinds, execution matters acutely. Reimbursement models in specialty care keep shifting. Agronomy itself is evolving—newer models demand scale, consistent innovation, and distribution reach just to hold ground [7].
| Company | Ticker |
|---|---|
| Novartis AG | NOVN.SW |
| F. Hoffmann-La Roche Ltd | ROG.SW |
| Pfizer Inc. | PFE.NYSE |
| Corteva, Inc. | CTVA.NYSE |
| Johnson & Johnson | JNJ.NYSE |
Private competitors
- Syngenta Group
- Phytoform
- InnerPlant
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Start Free TrialPerformance Figures of Bayer AG NA
Relative Performance vs Benchmarks
| Period | Bayer AG NA | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -6.60% | -6.84% | -10.13% |
| 3M | -15.24% | -12.97% | -22.73% |
| 6M | +40.04% | +34.05% | +28.07% |
| 1Y | +64.88% | +63.05% | +39.70% |
| 3Y | -28.61% | -78.99% | -110.75% |
| 5Y | -24.96% | -83.51% | -114.29% |
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Start Free TrialHistorical valuation trends
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 | -17.6 | 0.8 | 1.3 | 8.4 |
| 1Y ago | -6.9 | 0.5 | 0.7 | 2.6 |
| 3Y ago | 17.6 | 1.1 | 1.3 | 12.6 |
| 5Y ago | -5.5 | 1.3 | 1.6 | 23.1 |
Frequently Asked Questions
Where is the Bayer AG NA stock traded?
What does Bayer AG NA do?
What are the key metrics for BAYN.XETRA?
How has Bayer AG NA's stock price performed?
How is BAYN.XETRA valued?
Does BAYN.XETRA pay dividends?
What are the key risks when investing in BAYN.XETRA?
- Intense competition across multiple segments from large pharma peers is pressuring both R&D returns and pricing power [web:2][page:1].
- Competition between integrated chemical conglomerates and specialized agrichemical companies is intensifying price pressure and fragmenting market share in crop science. [web:6][web:8]
- Regulatory and reimbursement pressure in major markets constrains both pricing power and market access for high-value drugs.
- Nimble private ag-tech startups and the rise of low-cost generics and biosimilars are compressing product lifecycles and putting margin pressure on incumbents.
Who are the main competitors of Bayer AG NA?
- Novartis AG (NOVN.SW)
- F. Hoffmann-La Roche Ltd (ROG.SW)
- Pfizer Inc. (PFE.NYSE)
- Corteva, Inc. (CTVA.NYSE)
- Johnson & Johnson (JNJ.NYSE)
When does Bayer AG NA 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 | 0.11 EUR | 0.29% | 2.31% |
| 2025 | 0.11 EUR | 0.48% | |
| 2024 | 0.11 EUR | 0.40% | |
| 2023 | 2.40 EUR | 4.02% | |
| 2022 | 2.00 EUR | 3.18% | |
| 2021 | 2.00 EUR | 3.68% | |
| 2020 | 2.80 EUR | 4.44% | |
| 2019 | 2.80 EUR | 4.55% | |
| 2018 | 2.76 EUR | 2.73% | |
| 2017 | 2.66 EUR | 2.38% | |
| 2017 | 0.03 EUR | 0.03% | |
| 2016 | 2.46 EUR | 2.48% | |
| 2015 | 2.21 EUR | 1.64% | |
| 2014 | 2.07 EUR | 2.07% | |
| 2013 | 1.87 EUR | 2.34% |
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 | 45.58B | 46.61B | 47.64B | 50.74B | 44.08B |
| Operating income (EBIT) | 6.95B | 4.48B | 8.41B | 8.24B | 7.93B |
| Net income | -3.62B | -2.55B | -2.94B | 4.15B | 1.00B |
| Free cash flow | 2.08B | 4.59B | 2.37B | 4.14B | 2.48B |
| Total assets | 110.61B | 110.85B | 116.26B | 124.88B | 120.24B |
| Equity | 25.95B | 31.91B | 32.93B | 38.77B | 33.02B |
| Net debt | 30.77B | 34.62B | 38.88B | 36.48B | 34.97B |
PWP Leeway UG (haftungsbeschränkt)
