Beiersdorf Aktiengesellschaft
Explore by topic
5-year stock timeline
2026 Aug — Half-year results 2026: Derma outperformance; NIVEA turnaround plan
Beiersdorf reported H1 2026 results showing continued Derma strength alongside weakness at NIVEA, announcing an 18-month turnaround and rebalancing plan for NIVEA while adjusting full-year guidance. Investors increasingly viewed the group as operating at two speeds — a growth engine in Derma (Eucerin, Aquaphor) and a cyclical brand-repositioning story in Consumer/NIVEA. Market sentiment shifted toward valuing stability from Derma and patience for NIVEA's recovery.
Group H1 organic sales declined 3.5% to €5.0 billion. EBIT excluding special factors reached €768 million with an EBIT margin of 15.5% [14][11].
2026 Apr — Q1 2026: weak start, Derma up; group organic decline
Q1 2026 results showed Group organic sales declined 4.6%, with Derma organic growth of 8.2% while NIVEA and La Prairie faced headwinds. Management stated results were in line with full-year guidance. This reinforced the market view that Beiersdorf's near-term performance depends on brand mix and timing of NIVEA recovery, with investors emphasizing Derma's resilience and margin contribution.
Group net sales for the quarter were approximately €2.5 billion. Consumer declined 4.7% organically; Derma grew 8.2%; NIVEA net sales fell roughly 7%; La Prairie declined 14.9% [1][5][7].
2026 Mar — Full-year 2025 results: group growth; Derma outperforms
Beiersdorf published FY 2025 results showing Group sales of €9.9 billion with organic growth of 2.4%, with Derma described as outperforming the market. Management had adjusted guidance during the year as end-markets slowed. This confirmed that 2024–25 expansion reflected successful Derma momentum and selective price/mix actions, while investors noted greater execution risk in mass-market NIVEA segments.
2025 (throughout) — Execution and margin focus after post-pandemic normalization
Across 2024–2025 Beiersdorf prioritized margin expansion and portfolio investments in innovation, Derma and premium brands while managing volume pressure in some Consumer markets. Market perception transitioned from pandemic recovery to quality of earnings scrutiny — investors rewarded Derma growth but discounted cyclical Consumer exposure, with valuation narratives splitting between defensive compounder and turnaround candidate. 2025 factsheets show continuing robust EBIT (excluding special factors) and elevated gross cash flow supporting dividends and investments [2][4].
2024 Nov — Annual report 2023: record sales and solid margins
The annual report highlighted 2023 Group sales of €9,447 million and EBIT margin (excluding special factors) of 13.4%, with management emphasizing strategy execution and R&D/brand investment. This reinforced investor view of Beiersdorf as a high-quality consumer healthcare and skincare compounder with predictable cash flows; however, some investors pushed for clearer actions on underperforming areas.
2023 Group sales reached €9,447 million. EBIT excluding special factors was €1,268 million with an EBIT margin of 13.4%. EPS for 2023 was €3.24 [3][4][13].
2023 (through year) — Continued portfolio strength; rising focus on Derma and premium brands
Management emphasized Derma and premiumisation (including La Prairie positioning), with R&D and targeted marketing driving performance; tesa remained steady. Investors increasingly priced Beiersdorf as a balanced portfolio: stable industrial tesa business plus consumer brands with selective upside from Derma/premium execution; some concern existed about margin impact from premium brand investments.
Consumer sales in 2023 reached €7,780 million [4][2].
2022 Mar–Dec — Post-pandemic recovery and strong organic growth
Beiersdorf reported strong 2022 results as markets reopened, with Group sales of €8,799 million and notable organic growth as demand recovered. Management focused on scaling innovations and improving distribution in faster markets. Investor perception moved from pandemic pull-forward volatility to renewed confidence in sustainable demand, with the company seen as re-establishing growth momentum while rebuilding margins.
FY 2022 Group sales reached €8,799 million. EBIT excluding special factors was €1,158 million with an EBIT margin of 13.2% [4][2].
2021 (throughout) — Stabilization after 2020 disruptions
Following 2020 pandemic disruption, 2021 showed stabilization as Beiersdorf communicated recovery plans and ongoing investments in brands and channels. Markets considered Beiersdorf a resilient consumer staples/skin care compounder with steady cash generation and a conservative capital allocation approach with sustained dividends. Some investors remained cautious about near-term topline volatility.
FY 2021 Group sales reached €7,627 million, with gross cash flow and dividend continuity noted in company factsheets [2][9].
Key risks and downside factors
Beiersdorf operates as a global consumer goods company with two distinct business pillars: mass and prestige skincare through brands like Nivea, Eucerin, and La Prairie, alongside industrial adhesive tapes under the tesa banner. Its competitive landscape includes large multinational players such as L'Oréal, Unilever, P&G, Estée Lauder, and Shiseido, as well as regional and independent skincare operators. This competitive density creates persistent pressure on pricing, distribution access, and the pace of innovation required to maintain relevance. The business carries several material risks worth monitoring. Heavy reliance on a concentrated brand portfolio leaves limited room for underperformance in any single asset. Larger competitors possess cost advantages that can compress margins, particularly in price-sensitive segments. Supply chain disruptions and input cost volatility remain structural exposures in a manufacturing-dependent business. Regulatory and product-safety liabilities carry both financial and reputational weight. Currency fluctuations and macroeconomic sensitivity in emerging markets introduce earnings volatility that's difficult to hedge cleanly, especially given the geographic distribution of sales exposure.
- Brand concentration and competitive pricing pressure create meaningful exposure. Heavy reliance on Nivea and a handful of major brands means revenue and margins remain vulnerable to competitor promotions and erosion of brand share.
- Raw material and supply-chain disruption pose ongoing margin pressure. Commodity prices, packaging costs, and transport expenses remain volatile, while dependence on third-party manufacturers introduces additional exposure to cost shocks that can compress profitability materially.
- Regulatory shifts, product-safety issues, and litigation pose material risks. Changes to cosmetic regulations, adverse product claims, or recalls in significant markets can result in fines, remediation expenses, and reputational harm.
- Geographic and currency exposure creates material risk: significant sales in emerging markets expose the company to foreign exchange volatility, which can compress reported sales and profits, while regional macroeconomic downturns tend to hit harder when currency headwinds are present [8], [3].
Competitive landscape
Beiersdorf operates as a global consumer-care company with two distinct business pillars: skin care brands including Nivea, Eucerin, and La Prairie, alongside industrial adhesive solutions under tesa. The company faces competition from large multinational groups spanning mass-market, prestige, and dermocosmetic segments, as well as from regional and independent players in both consumer and industrial categories. Competitive dynamics center on scale advantages, research and development capabilities, distribution reach across retail and e-commerce channels, and pricing power. The business carries exposure to several material risks. Product quality, regulatory compliance, and brand reputation represent ongoing operational concerns. Input cost inflation and foreign exchange movements create margin pressure. Competitor innovation and aggressive pricing strategies demand continuous investment and market responsiveness. Supply chain resilience and the pace of digital transformation execution present additional operational challenges that could affect performance if not managed effectively.
| Company | Ticker |
|---|---|
| The Procter & Gamble Company | PG.NYSE |
| The Estée Lauder Companies Inc. | EL.NYSE |
| Johnson & Johnson | JNJ.NYSE |
| Henkel AG & Co. KGaA | HEN3.XETRA |
| 3M Company | MMM.NYSE |
| Coty Inc. | COTY.NYSE |
Private competitors
- Barbara Sturm (Dr. Barbara Sturm GmbH)
- Many indie / DTC skincare brands (collective — e.g., consumer‑direct niche brands across markets)
Get More Stock Analyses Like This
Receive hand-picked stock recommendations with detailed analyses every week
Start Free TrialPerformance Figures of Beiersdorf Aktiengesellschaft
Relative Performance vs Benchmarks
| Period | Beiersdorf Aktiengesellschaft | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | +1.11% | +4.44% | -0.30% |
| 3M | -0.36% | -0.45% | -4.26% |
| 6M | +2.90% | -2.72% | -12.34% |
| 1Y | -15.52% | -18.62% | -33.21% |
| 3Y | -35.76% | -100.84% | -123.84% |
| 5Y | -14.35% | -79.69% | -104.59% |
Get More Stock Analyses Like This
Receive hand-picked stock recommendations with detailed analyses every week
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 | 17.8 | 1.7 | 1.9 | 15.9 |
| 1Y ago | 15.1 | 1.2 | 2.4 | 9.8 |
| 3Y ago | 22.8 | 2.0 | 3.4 | 29.5 |
| 5Y ago | 21.2 | 1.9 | 12.3 | 12.3 |
Frequently Asked Questions
Where is the Beiersdorf Aktiengesellschaft stock traded?
What does Beiersdorf Aktiengesellschaft do?
What are the key metrics for BEI.XETRA?
How has Beiersdorf Aktiengesellschaft's stock price performed?
How is BEI.XETRA valued?
Does BEI.XETRA pay dividends?
What are the key risks when investing in BEI.XETRA?
- Brand concentration and competitive pricing pressure create meaningful exposure. Heavy reliance on Nivea and a handful of major brands means revenue and margins remain vulnerable to competitor promotions and erosion of brand share.
- Raw material and supply-chain disruption pose ongoing margin pressure. Commodity prices, packaging costs, and transport expenses remain volatile, while dependence on third-party manufacturers introduces additional exposure to cost shocks that can compress profitability materially.
- Regulatory shifts, product-safety issues, and litigation pose material risks. Changes to cosmetic regulations, adverse product claims, or recalls in significant markets can result in fines, remediation expenses, and reputational harm.
- Geographic and currency exposure creates material risk: significant sales in emerging markets expose the company to foreign exchange volatility, which can compress reported sales and profits, while regional macroeconomic downturns tend to hit harder when currency headwinds are present [8, 3, 21].
Who are the main competitors of Beiersdorf Aktiengesellschaft?
- The Procter & Gamble Company (PG.NYSE)
- The Estée Lauder Companies Inc. (EL.NYSE)
- Johnson & Johnson (JNJ.NYSE)
- Henkel AG & Co. KGaA (HEN3.XETRA)
- 3M Company (MMM.NYSE)
- Coty Inc. (COTY.NYSE)
When does Beiersdorf Aktiengesellschaft 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 | 1.00 EUR | 1.35% | 0.88% |
| 2025 | 1.00 EUR | 0.84% | |
| 2024 | 1.00 EUR | 0.74% | |
| 2023 | 0.70 EUR | 0.57% | |
| 2022 | 0.70 EUR | 0.74% | |
| 2021 | 0.70 EUR | 0.78% | |
| 2020 | 0.70 EUR | 0.74% | |
| 2019 | 0.70 EUR | 0.76% | |
| 2018 | 0.70 EUR | 0.76% | |
| 2017 | 0.70 EUR | 0.77% | |
| 2016 | 0.70 EUR | 0.88% | |
| 2015 | 0.70 EUR | 0.87% | |
| 2014 | 0.70 EUR | 0.99% | |
| 2013 | 0.70 EUR | 1.03% | |
| 2012 | 0.70 EUR | 1.33% |
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 | 9.85B | 9.85B | 9.45B | 8.80B | 7.63B |
| Operating income (EBIT) | 1.35B | 1.29B | 1.10B | 1.22B | 980.00M |
| Net income | 939.00M | 912.00M | 736.00M | 755.00M | 638.00M |
| Free cash flow | 373.00M | 794.00M | 424.00M | 249.00M | 580.00M |
| Total assets | 12.85B | 13.01B | 12.63B | 12.35B | 11.30B |
| Equity | 8.60B | 8.47B | 8.32B | 7.79B | 6.87B |
| Net debt | -983.00M | -941.00M | -1.03B | -722.00M | -757.00M |
PWP Leeway UG (haftungsbeschränkt)
