Beiersdorf Aktiengesellschaft
5-year stock timeline
Five‑year timeline (selected events)
In April 2020, shareholders authorized multiple capital measures—authorized and contingent capital, plus a buyback authorization—that would prove relevant for years of corporate action ahead.
By early 2022, Beiersdorf had acquired Chantecaille and made smaller investments in microbiome and prestige skincare, deliberately broadening growth exposure beyond its core NIVEA franchise.
Fiscal 2023 delivered strong organic growth and record sales. Management responded by proposing a higher dividend and launching a €500m share buyback in 2024. Through 2024 and 2025, the company posted continued record sales, though brand performance grew uneven—La Prairie struggled while Chantecaille and Derma performed well. Buyback activity continued into 2025.
Investor perception and narrative
After 2022–2023, the market's view of Beiersdorf shifted. It was no longer a defensive consumer-goods compounder but a growth-oriented beauty player. Double‑digit organic growth and claims of being the world's fastest‑growing beauty company in 2023 cemented that positioning.
Capital returns—the dividend lift and substantial buyback—reinforced a shareholder‑friendly story and drove valuation re‑ratings through 2024–2025. Yet selective brand weakness sparked genuine debate: was this a durable growth compounder, or did it carry cyclical luxury exposure?
By 2025, the narrative cooled. Management signalled slower skincare market growth ahead, and some investors began taking profits and shifting to caution.
Key technical phases
From 2021 through 2023, a multi‑quarter recovery built into strong year‑end momentum, with the stock closing 2023 around €135.70 as accelerating sales and positive re‑rating converged.
The shares held elevated through the first half of 2024, closing H1 near €136.55, supported by buyback and dividend announcements and sustained organic growth.
Late 2024 into 2026 brought material re‑rating downward. Growth expectations were revised, luxury and core-brand performance diverged sharply, and guidance moderated. The stock declined significantly from its 2023–mid‑2024 peaks to the current price of 70.58.
Catalysts that moved the stock
Upward: faster‑than‑expected organic growth (NIVEA and Derma especially), successful innovation in‑market, and concrete capital returns—dividend increases and substantial buybacks that supported earnings per share and shareholder yield.
Downward: uneven luxury performance (La Prairie in particular), management's signal of slower skincare growth in 2025, and industrial end‑market weakness affecting tesa and related segments. These pressures compressed forward multiples and explain the significant re‑rating through 2025–2026.
Key risks and downside factors
Beiersdorf operates in skin-care and personal-care markets where it faces entrenched competitors—L'Oréal, Unilever, Procter & Gamble—that dwarf it in portfolio breadth and scale. The company's real advantages are dermatological R&D depth and heritage brands like Nivea, which carry weight in the market. What works against it: raw-material costs, currency headwinds, and the ongoing shift in how retail channels operate all compress margins. Growth into the U.S. and India is there for the taking, but both markets demand regulatory precision and flawless execution—neither comes cheap, and both can trip you up if you're not careful.
- Global beauty and FMCG competitors are well-positioned to pressure both market share and pricing in this space.
- Raw-material inflation, supply-chain disruption, and currency swings can all compress margins and EBITDA [9][1].
- Regulatory or safety concerns around active ingredients in dermatology products can trigger recalls, force reformulations, or restrict market access.
- Heavy dependence on flagship brands like Nivea concentrates revenue risk. If innovation slows or brand momentum fades, growth gets pinched.
Competitive landscape
Beiersdorf operates in two distinct arenas: mass-market and premium skincare under its consumer brands, plus industrial adhesives through tesa. That puts it in the ring with both multinational consumer-goods powerhouses and focused industrial specialists. On the consumer side, L'Oréal, Unilever and Procter & Gamble loom large—companies with deeper pockets for R&D, marketing and distribution that can erode both market share and pricing power. The dual-business structure provides some insulation through revenue diversification, but it also exposes the company to multiple pressure points: brand competition that's intensifying, raw-material costs that swing unpredictably, and nimble DTC and biotech players chipping away at the premium skincare segment where margins matter most.
| Company | Ticker |
|---|---|
| L'Oréal S.A. | OR.PA |
| Procter & Gamble Co. | PG.NYSE |
Private competitors
- OneSkin
- Elm Biosciences
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 | -7.54% | -7.78% | -11.07% |
| 3M | -32.85% | -30.58% | -40.34% |
| 6M | -19.79% | -25.78% | -31.76% |
| 1Y | -41.11% | -42.94% | -66.29% |
| 3Y | -42.94% | -93.32% | -125.08% |
| 5Y | -24.65% | -83.20% | -113.98% |
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 | 23.3 | 2.1 | 1.8 | 18.8 |
| 1Y ago | 16.4 | 1.4 | 3.2 | 12.0 |
| 3Y ago | 25.4 | 2.2 | 14.8 | 36.3 |
| 5Y ago | 25.2 | 2.0 | 12.7 | 13.6 |
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?
- Global beauty and FMCG competitors are well-positioned to pressure both market share and pricing in this space.
- Raw-material inflation, supply-chain disruption, and currency swings can all compress margins and EBITDA [web:9][web:1].
- Regulatory or safety concerns around active ingredients in dermatology products can trigger recalls, force reformulations, or restrict market access.
- Heavy dependence on flagship brands like Nivea concentrates revenue risk. If innovation slows or brand momentum fades, growth gets pinched.
Who are the main competitors of Beiersdorf Aktiengesellschaft?
- L'Oréal S.A. (OR.PA)
- Procter & Gamble Co. (PG.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 | 1.30B | 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)
