Want to see AKZOY full AI Analyst Report?
Top Page
Akzo Nobel
(OTC:AKZOY)
Select Model
Select Model
Rating:60Neutral
Price Target:
$23.50
▼(-0.30% Downside)
Action:Reiterated
Date:10/23/26
AKZOY scores as moderately attractive: the biggest constraint is fundamentals—sharp recent revenue decline, elevated leverage, and weakening free-cash-flow momentum—despite improved margins. The latest earnings call is a meaningful support, with maintained EBITDA guidance, pricing power to offset inflation, and continued margin expansion, though volumes and regulatory/transaction risks remain. Valuation is reasonable with a solid dividend, while technicals are neutral and suggest limited near-term trend strength.
Positive Factors
Pricing Power and Margin Expansion
Sustained pricing execution has more than offset raw-material inflation and supported six consecutive quarters of margin expansion. This indicates differentiated commercial capability and improving operating discipline, helping protect profitability even while volumes remain under pressure.
Negative Factors
Structural Revenue Contraction
The sharp TTM revenue decline raises concern that recent profitability improvements may not be durable without a demand recovery. A smaller top line can reduce operating leverage, limit reinvestment capacity and make it harder to sustain earnings growth across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Pricing Power and Margin Expansion
Sustained pricing execution has more than offset raw-material inflation and supported six consecutive quarters of margin expansion. This indicates differentiated commercial capability and improving operating discipline, helping protect profitability even while volumes remain under pressure.
Read all positive factors
Akzo Nobel (AKZOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.28B
Dividend Yield3.53%
Average Volume (3M)9.03K
Price to Earnings (P/E)15.4
Beta (1Y)0.82
Revenue Growth-0.12%
EPS Growth1453.82%
CountryUS
Employees31,500
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)1.26
Shares Outstanding514,333,070
10 Day Avg. Volume0
30 Day Avg. Volume9,029
Financial Highlights & Ratios
PEG Ratio1.31
Price to Book (P/B)2.17
Price to Sales (P/S)1.04
P/FCF Ratio17.36
Enterprise Value/Market Cap1.31
Enterprise Value/Revenue1.49
Enterprise Value/Gross Profit3.67
Enterprise Value/Ebitda6.69
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.48
Revenue Forecast (FY)$11.27B
Akzo Nobel Business Overview & Revenue Model
Company Description
Akzo Nobel N.V. operates as an international corporation, specializing in the creation, production, and distribution of a comprehensive array of paints and protective surface coverings. The company's offerings fall into two primary categories: dec...
How the Company Makes Money
Akzo Nobel makes money primarily by selling paints and coatings products and related services to professional and consumer customers worldwide. Its revenue model is largely volume- and price-driven: the company manufactures coatings and decorative...
Akzo Nobel Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 10, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. AkzoNobel reported organic sales growth, continued pricing execution, six consecutive quarters of margin expansion, improved working capital, lower leverage, strong value realization from portfolio disposals, and maintained its 2026 EBITDA outlook. These achievements were partly offset by lower volumes, challenging automotive, construction and China markets, high single-digit raw material inflation, transaction-related cash outflows, and pending regulatory clearances for the Axanzo merger.Positive Updates
Organic Sales Growth and Margin Expansion
Q3 organic sales increased 2%, supported by strong pricing of plus 5%, while adjusted EBITDA rose EUR 15 million to EUR 388 million at comparable scope and constant currencies. The adjusted EBITDA margin increased 20 basis points year-on-year to 15.3%, marking the sixth consecutive quarter of margin expansion.
Negative Updates
Volumes Declined Year-on-Year
Q3 volumes decreased 2% year-on-year, including a 2% decline in Coatings and a 3% decline in Paints. Year-to-date volumes were down 1%.
Read all updates
Q3-2026 Updates
Positive
Negative
Organic Sales Growth and Margin Expansion
Q3 organic sales increased 2%, supported by strong pricing of plus 5%, while adjusted EBITDA rose EUR 15 million to EUR 388 million at comparable scope and constant currencies. The adjusted EBITDA margin increased 20 basis points year-on-year to 15.3%, marking the sixth consecutive quarter of margin expansion.
Read all positive updates
Company Guidance
AkzoNobel continues to expect 2026 adjusted EBITDA of around EUR 1.47 billion; for Q4, volumes are forecasted to be flat, pricing is expected to be a slight net positive against raw material inflation, and OpEx savings will be delivered as per plan. Pricing will continue to fully offset the inflation currently seen and go further if required, including into next year; raw material inflation was high single digits up in Q3, with a similar trend expected in Q4. The Axanzo value case remains $600 million of cost synergies, around 90% within 3 years of closing, and 100 to 200 basis points of revenue synergy uplift, with closing remaining on track for early 2027.Akzo Nobel Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.89B | 9.76B | 10.71B | 10.67B | 10.85B | 9.59B |
| Gross Profit | 4.02B | 3.89B | 4.34B | 4.23B | 3.92B | 3.85B |
| EBITDA | 2.21B | 1.48B | 1.40B | 1.33B | 1.06B | 1.53B |
| Net Income | 649.75M | 609.94M | 542.00M | 442.00M | 352.00M | 829.00M |
Balance Sheet | ||||||
| Total Assets | 16.29B | 13.95B | 14.25B | 14.56B | 14.74B | 13.88B |
| Cash, Cash Equivalents and Short-Term Investments | 3.47B | 1.92B | 1.47B | 1.78B | 1.79B | 1.21B |
| Total Debt | 6.61B | 4.86B | 5.37B | 5.56B | 5.88B | 3.55B |
| Total Liabilities | 11.19B | 9.13B | 9.43B | 10.01B | 10.19B | 8.24B |
| Stockholders Equity | 4.94B | 4.66B | 4.57B | 4.32B | 4.33B | 5.42B |
Cash Flow | ||||||
| Free Cash Flow | 477.38M | 582.08M | 362.00M | 834.00M | -38.00M | 317.00M |
| Operating Cash Flow | 774.41M | 878.89M | 668.00M | 1.12B | 254.00M | 605.00M |
| Investing Cash Flow | 319.55M | 407.27M | -132.00M | -144.00M | -1.09B | -134.00M |
| Financing Cash Flow | 694.79M | -925.95M | -684.00M | -827.00M | 1.14B | -974.00M |
Akzo Nobel Technical Analysis
Negative
23.57
Price Trends
22.30
Negative
22.56
Negative
21.74
Positive
Market Momentum
-0.01
Negative
48.69
Neutral
8.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AKZOY, the sentiment is Negative. The current price of 23.57 is above the 20-day moving average (MA) of 21.87, above the 50-day MA of 22.30, and above the 200-day MA of 21.74, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.69 is Neutral, neither overbought nor oversold. The STOCH value of 8.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AKZOY.
Akzo Nobel Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $13.04B | 18.83 | 21.13% | 2.14% | 5.96% | 0.68% | |
69 Neutral | $79.75B | 30.06 | 63.49% | 0.97% | 7.03% | 5.95% | |
68 Neutral | $26.51B | 17.05 | 19.05% | 2.39% | 6.39% | 27.29% | |
66 Neutral | $7.19B | 21.54 | 13.48% | ― | 0.14% | -25.40% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | $11.28B | 15.45 | 13.55% | 3.53% | -0.12% | 1453.82% | |
56 Neutral | $3.41B | 65.25 | 2.77% | 2.25% | -1.39% | ― |
* Basic Materials Sector Average
AKZOY
Akzo Nobel
21.90
0.08
0.37%
ASH
Ashland
74.38
27.03
57.10%
PPG
PPG Industries
120.00
25.04
26.36%
RPM
RPM International
102.22
-4.23
-3.98%
SHW
Sherwin-Williams Company
330.10
-14.53
-4.22%
AXTA
Axalta Coating Systems
33.61
4.95
17.27%
Akzo Nobel Corporate Events
Akzo Nobel Posts Q3 2026 Results and Confirms 2026 EBITDA Target
Oct 21, 2026
Akzo Nobel reported its third-quarter 2026 results on October 21, 2026, posting 2% organic sales growth driven by pricing, while overall revenue remained flat amid lower volumes in Decorative Paints and Performance Coatings. Operating income fell ...
AkzoNobel Files Q3 2026 Form 6-K, Details Risks Around Proposed Axalta Deal
Oct 21, 2026
Akzo Nobel N.V. has filed a Form 6-K with the U.S. Securities and Exchange Commission dated October 21, 2026, furnishing its Q3 2026 report as Exhibit 99.1. The filing confirms that AkzoNobel continues to report as a foreign private issuer under F...
AkzoNobel Posts Q3 Margin Gains and Strikes $1.35bn Southeast Asia Paints Sale
Oct 21, 2026
AkzoNobel reported its third-quarter 2026 results on October 21, showing 2% organic sales growth driven by pricing, with reported revenue essentially flat year-on-year at €2.54 billion. Organic adjusted EBITDA rose €15 million, lifting...
AkzoNobel Sets November 30 EGM to Advance Merger with Axalta
Oct 16, 2026
On October 16, 2026, AkzoNobel reported to the U.S. SEC that it will convene an Extraordinary General Meeting on November 30, 2026, to advance its planned all-share merger of equals with Axalta Coating Systems. Shareholders will be asked to approv...
AkzoNobel and Axalta Unveil Axanzo Name for Planned Merger
Oct 15, 2026
On October 15, 2026, AkzoNobel and Axalta Coating Systems announced that their merged entity will be called Axanzo, with a planned ticker symbol of AXZ on the NYSE and Euronext Amsterdam once the transaction closes. The name is intended to signal ...
AkzoNobel Divests South East Asia Decorative Paints Unit to Nippon Paint for $1.35 Billion
Oct 5, 2026
On October 5, 2026, AkzoNobel announced binding agreements to sell its Decorative Paints business in seven South East Asia and Pacific markets to Nippon Paint for an enterprise value of about $1.35 billion. The divested operations span Vietnam, In...
AkzoNobel and Axalta Finalize Board Line‑Up for Pending Merger
Aug 31, 2026
On August 31, 2026, AkzoNobel and Axalta announced that industry executives Stephan B. Tanda, Denise C. Johnson and investment specialist Robert Schuchna have agreed to serve as non‑executive directors on the Board of their planned merged co...
AkzoNobel Shareholders Clear Path for Merger with Axalta
Aug 7, 2026
On August 5, 2026, AkzoNobel shareholders approved all resolutions at an Extraordinary General Meeting supporting an all-share merger with Axalta Coating Systems. The vote covers the merger itself, changes to AkzoNobel’s Articles of Associat...
AkzoNobel and Axalta Tighten Governance Terms Ahead of August Merger Votes
Jul 23, 2026
AkzoNobel and Axalta, which are pursuing an all-share merger of equals, announced on July 23, 2026 that they will strengthen governance for the future combined company following extensive dialogue with shareholders and other stakeholders. The adju...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.