Symrise AG
5-year stock timeline
Symrise has spent the past five years building a more resilient, cash-generative business—though the market's confidence in that story has wavered considerably along the way.
The company's early moves were acquisitive. Between 2021 and 2022, management assembled a Pet Food unit through purchases like Schaffelaarbos and Wing Pet Food, alongside targeted bolt-ons in fine fragrances. The aim was straightforward: diversify revenue streams and add defensive, recurring-revenue characteristics to the portfolio. Investors watched these deals closely, focused mainly on integration risk and whether the company could maintain growth momentum through the process.
By 2023, that narrative had begun to shift. Cost inflation eased, pricing held, and organic growth accelerated into 2024. When Dr. Jean-Yves Parisot took over as CEO in March 2024, he inherited a company firing on multiple cylinders. FY-2024 delivered around 8.7% organic growth on roughly €5 billion in sales, with meaningful margin expansion. More importantly, the company converted that into record business free cash flow—enough to fund an inaugural €400 million share buyback while continuing to raise the dividend.
That's when investor focus moved decisively away from headline acquisition volume and toward the quality of what was being earned. Margins, cash conversion, capital discipline—these became the conversation. It was a subtle but important shift in how the market priced the business.
The stock itself tells that story in its own way. A multi-quarter advance through 2021 gave way to consolidation and sideways trading through 2022 and early 2024 as investors waited for proof. When the proof arrived, the stock rallied sharply, reaching the high €80s and breaking through €90 in July 2025. But momentum proved fragile. A substantial correction followed into early 2026, with prices sliding into the mid-€60s by March before stabilizing around €73.24 in early April.
That latest level sits roughly midway between the 2025 peak and the early-2026 trough—a stock still digesting what it learned about the company, and perhaps still deciding whether to trust the narrative that got it to €90 in the first place.
Key risks and downside factors
Symrise operates in a concentrated global market for flavors, fragrances and cosmetic ingredients alongside major competitors like Givaudan, IFF and DSM-Firmenich. Recent consolidation—notably the DSM-Firmenich merger—has shifted scale advantages toward the largest players, intensifying competitive pressure on mid-sized operators like Symrise. The company faces meaningful headwinds from raw material price volatility, aggressive competitor pricing, customer concentration risk, and regulatory and currency exposure across its geographic footprint.
- Raw-material and commodity price volatility—botanicals, essential oils—can materially compress gross margins and raise input costs.
- Intense competition and ongoing consolidation among the major players—Givaudan, IFF, and DSM-Firmenich—create real pressure on pricing and market share [14][22].
- Heavy reliance on a small number of large food, beverage, and personal-care customers concentrates both volume and pricing power in their hands, which tends to amplify revenue swings [4][18].
- Regulatory shifts, labeling requirements, and exposure to currency fluctuations and geopolitical events across different regions can drive up compliance costs and create earnings volatility [15][18].
Competitive landscape
Symrise operates in a concentrated market where it competes against global heavyweights Givaudan and IFF in flavors, fragrances, and cosmetic ingredients, alongside mid-cap rivals like Sensient Technologies and Robertet across food, personal care, and scent ingredients. The company faces persistent margin pressure from raw material volatility, while larger competitors leverage their scale and pricing power. Supply chain disruptions and regulatory shifts present additional headwinds that could slow production and R&D momentum.
| Company | Ticker |
|---|---|
| Givaudan | GIVN.SIX |
| Sensient Technologies | SXT.NYSE |
Private competitors
- MANE
- Döhler
- Inolex
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Relative Performance vs Benchmarks
| Period | Symrise AG | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -4.26% | +1.71% | +0.73% |
| 3M | +6.33% | +11.73% | +10.70% |
| 6M | -2.63% | +2.34% | -0.36% |
| 1Y | -23.24% | -26.02% | -40.50% |
| 3Y | -24.52% | -72.75% | -89.60% |
| 5Y | -26.47% | -79.82% | -100.29% |
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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 | 27.0 | 1.6 | 2.7 | 7.2 |
| 1Y ago | 28.0 | 2.7 | 3.4 | 14.9 |
| 3Y ago | 37.5 | 2.4 | 4.0 | 33.4 |
| 5Y ago | 30.1 | 2.7 | 5.7 | 16.3 |
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 | 1.25 EUR | — | 1.23% |
| 2025 | 1.20 EUR | 1.14% | |
| 2024 | 1.10 EUR | 1.08% | |
| 2023 | 1.05 EUR | 0.97% | |
| 2022 | 1.02 EUR | 0.93% | |
| 2021 | 0.97 EUR | 0.89% | |
| 2020 | 0.95 EUR | 0.98% | |
| 2020 | 0.95 EUR | 1.02% | |
| 2019 | 0.90 EUR | 1.04% | |
| 2018 | 0.88 EUR | 1.23% | |
| 2017 | 0.85 EUR | 1.34% | |
| 2016 | 0.80 EUR | 1.40% | |
| 2015 | 0.75 EUR | 1.32% | |
| 2014 | 0.70 EUR | 1.84% | |
| 2013 | 0.65 EUR | 1.99% |
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 | 4.93B | 5.00B | 4.73B | 4.62B | 3.83B |
| Operating income (EBIT) | 609.30M | 717.80M | 559.36M | 503.98M | 558.96M |
| Net income | 249.30M | 478.20M | 340.47M | 280.01M | 374.92M |
| Free cash flow | 521.05M | 667.49M | 449.31M | 109.94M | 347.40M |
| Total assets | 8.11B | 8.32B | 7.85B | 7.78B | 6.64B |
| Equity | 3.72B | 3.98B | 3.63B | 3.55B | 3.19B |
| Net debt | 1.60B | 1.84B | 2.17B | 2.23B | 1.35B |
PWP Leeway UG (haftungsbeschränkt)
