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Barco
(OTC:BCNAY)
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Rating:59Neutral
Price Target:
$3.50
▼(-24.08% Downside)
Action:Reiterated
Date:10/16/26
The score is driven mainly by mixed fundamentals: strong balance-sheet positioning and decent profitability are offset by revenue contraction and weaker, volatile cash generation. Technicals further weigh on the rating given the clear downtrend and negative momentum. Valuation and dividend yield provide support, while the latest earnings call is mixed—guidance is reaffirmed and orders are improving, but H1 earnings and cash flow were notably weak.
Positive Factors
Conservative balance sheet
Very low leverage gives Barco financial flexibility to fund product development, support customers through weaker demand, and absorb cyclical volatility. This reduces dependence on external financing and preserves room for strategic investment over the next several quarters.
Negative Factors
Sustained revenue contraction
Two consecutive years of revenue decline, followed by another weak first half, raises concern that recent earnings strength may not be durable. Persistent volume pressure can reduce operating leverage, limit reinvestment capacity, and make the recovery dependent on a successful H2.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives Barco financial flexibility to fund product development, support customers through weaker demand, and absorb cyclical volatility. This reduces dependence on external financing and preserves room for strategic investment over the next several quarters.
Read all positive factors
Barco (BCNAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$609.18M
Dividend Yield7.46%
Average Volume (3M)0.00
Price to Earnings (P/E)12.6
Beta (1Y)0.65
Revenue Growth2.98%
EPS Growth-37.13%
CountryUS
Employees2,944
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.52
Shares Outstanding174,683,290
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio-0.19
Price to Book (P/B)0.76
Price to Sales (P/S)0.56
P/FCF Ratio8.88
Enterprise Value/Market Cap1.27
Enterprise Value/Revenue0.83
Enterprise Value/Gross Profit2.08
Enterprise Value/Ebitda7.27
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.37
Revenue Forecast (FY)$1.09B
Barco Business Overview & Revenue Model
Company Description
Barco N.V., operating globally with its subsidiaries, specializes in creating cutting-edge visualization solutions tailored for the entertainment, enterprise, and healthcare industries. Its operations are segmented into three core divisions: Enter...
How the Company Makes Money
Barco primarily makes money by selling hardware and integrated solutions—such as professional displays, video wall systems, projectors (including digital cinema projectors), and visualization/control room equipment—typically to business and instit...
Barco Earnings Call Summary
Earnings Call Date:Jul 15, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 16, 2027
Earnings Call Sentiment Negative
The call presented a mixed picture: clear strategic and operational progress in pockets (control rooms, diagnostic imaging, HDR traction in cinema, initial VerVent contribution, rising NPS and sustainability metrics) and management reconfirmed a constructive full-year outlook. However, the first half featured meaningful financial weakness — declining sales (-8% y/y), low EBITDA margin (6%), negative free cash flow (-EUR 37m), a net loss (EUR -4.8m), inventory build (+EUR 57m) and a shift to net debt after the VerVent acquisition — which together create material near-term financial pressure. While management outlined cost measures and sees H2 recovery, the negative H1 financial trends and cash/earnings impacts currently outweigh the positives.Positive Updates
Order Book and Order Momentum
Order book at EUR 568 million (up from EUR 492 million at end-2025). Orders H1: EUR 468 million (4% below last year; flat at constant currency). Second-quarter momentum improved with orders picking up toward the end of Q2.
Negative Updates
Revenue Decline in H1
Sales for H1 2026 at EUR 418 million, down 8% year-over-year (down 3% at constant currency), reflecting a weak start to the year and softer demand in several segments.
Read all updates
Q2-2026 Updates
Positive
Negative
Order Book and Order Momentum
Order book at EUR 568 million (up from EUR 492 million at end-2025). Orders H1: EUR 468 million (4% below last year; flat at constant currency). Second-quarter momentum improved with orders picking up toward the end of Q2.
Read all positive updates
Company Guidance
Management reconfirmed guidance for 2026 of full‑year sales above last year (including the VerVent Audio acquisition) and an EBITDA margin of 11–12%, expecting a material H2 improvement driven by six months of VerVent contribution (vs two in H1), stronger Q2 momentum, operating leverage and cost measures largely kicking in in H2. For context, H1 stats cited were: orders €468m (‑4% YoY; flat at constant currency), sales €418m (‑8% reported, ‑3% cc), EBITDA €26m (6% of sales), gross profit margin described as resilient, recurring revenues at 13% of sales, order book €568m (up from €492m end‑2025), net result ‑€4.8m, free cash flow ‑€37m (gross operating FCF €20m), inventories +€57m, net debt €33m after €134m cash paid for VerVent, dividends €44m, share buyback €11m, CapEx €15m, D&A €24m, restructuring €8.4m (cash effect €1m), DSO 73 days and DPO 81 days. Management also reiterated its 2028 ambition of ~€1.1bn revenue and ~15% EBITDA margin (now with VerVent in the portfolio) while flagging ongoing risks from geopolitics, component prices and ClickShare demand.Barco Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 932.13M | 963.84M | 946.59M | 1.05B | 1.06B | 804.29M |
| Gross Profit | 371.14M | 386.05M | 385.43M | 438.52M | 412.75M | 287.49M |
| EBITDA | 106.22M | 130.16M | 118.36M | 135.45M | 126.75M | 52.80M |
| Net Income | 42.97M | 68.73M | 62.96M | 80.17M | 75.22M | 8.88M |
Balance Sheet | ||||||
| Total Assets | 1.16B | 1.10B | 1.23B | 1.16B | 1.15B | 1.10B |
| Cash, Cash Equivalents and Short-Term Investments | 100.65M | 259.78M | 362.96M | 290.75M | 307.57M | 354.33M |
| Total Debt | 133.27M | 73.56M | 103.91M | 49.60M | 43.55M | 44.58M |
| Total Liabilities | 494.32M | 385.63M | 433.71M | 348.12M | 368.42M | 369.44M |
| Stockholders Equity | 664.45M | 714.84M | 795.15M | 795.33M | 759.19M | 693.78M |
Cash Flow | ||||||
| Free Cash Flow | 6.43M | 60.86M | 100.57M | 39.97M | 6.58M | 80.87M |
| Operating Cash Flow | 47.34M | 99.31M | 143.14M | 94.38M | 27.80M | 99.65M |
| Investing Cash Flow | -176.69M | -34.84M | -28.73M | -51.38M | -33.82M | 37.64M |
| Financing Cash Flow | -49.52M | -147.80M | -46.53M | -53.45M | -48.38M | -35.50M |
Barco Technical Analysis
Negative
4.61
Price Trends
4.17
Negative
4.44
Negative
5.11
Negative
Market Momentum
-0.16
Positive
36.88
Neutral
31.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCNAY, the sentiment is Negative. The current price of 4.61 is above the 20-day moving average (MA) of 3.85, above the 50-day MA of 4.17, and below the 200-day MA of 5.11, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 36.88 is Neutral, neither overbought nor oversold. The STOCH value of 31.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BCNAY.
Barco Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $4.15B | 21.77 | 11.35% | 2.16% | -8.32% | -19.36% | |
70 Outperform | $987.34M | 20.69 | 15.98% | 3.90% | 14.00% | 308.50% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $609.18M | 12.57 | 6.30% | 7.46% | 2.98% | -37.13% | |
46 Neutral | $37.93M | -0.23 | -221.31% | ― | 11.15% | 7.27% | |
43 Neutral | $14.68M | -6.38 | -168.53% | ― | -46.47% | -26.00% | |
31 Underperform | $6.70M | -0.10 | 590.12% | ― | ― | ― |
* Technology Sector Average
BCNAY
Barco
3.65
-3.36
-47.95%
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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.