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Clariant AG
(CLN)
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Rating:58Neutral
Price Target:
CHF11.00
▲(4.36% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak financial performance trends (multi-year revenue decline, 2025 net loss, and rising leverage), despite improved cash generation. Technicals are supportive with strong price momentum, but overbought indicators add near-term risk. Valuation is constrained by a negative P/E, partially offset by a relatively attractive dividend yield. Earnings call tone is mixed: guidance and cost-savings progress are positives, but Catalysts disruption and Middle East uncertainty remain material headwinds.
Positive Factors
Differentiated specialty chemicals model
Clariant’s specialty products and technical support can create customer value beyond basic chemical volume, supporting differentiated pricing and longer relationships. This business model may help defend margins and sustain demand across plastics, coatings, catalysts and formulated applications over coming quarters.
Negative Factors
Persistent revenue decline and net loss
A multi-year revenue decline combined with a renewed net loss indicates that the company has not yet restored consistent demand and earnings quality. Even with mid-teen EBITDA margins, continued top-line weakness can limit operating leverage, reduce reinvestment capacity and pressure shareholder returns.
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Positive Factors
Negative Factors
Differentiated specialty chemicals model
Clariant’s specialty products and technical support can create customer value beyond basic chemical volume, supporting differentiated pricing and longer relationships. This business model may help defend margins and sustain demand across plastics, coatings, catalysts and formulated applications over coming quarters.
Read all positive factors
Clariant AG (CLN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.38B
Dividend Yield4.09%
Average Volume (3M)760.30K
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue Growth-6.64%
EPS Growth-127.26%
CountryCH
Employees10,107
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.10
Shares Outstanding331,939,200
10 Day Avg. Volume690,079
30 Day Avg. Volume760,301
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.15
Price to Sales (P/S)0.60
P/FCF Ratio9.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF11.32Price Target Upside7.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.68
Revenue Forecast (FY)CHF3.83B
Clariant AG Business Overview & Revenue Model
Company Description
Clariant AG operates as a global leader in specialty chemicals, organized into three primary business units: Care Chemicals, Catalysis, and Natural Resources. The company develops and supplies a broad spectrum of chemical products and solutions. T...
How the Company Makes Money
Clariant makes money primarily by selling specialty chemical products and solutions to industrial customers, generating revenue from the volume of products delivered and the agreed selling price per unit (often reflecting performance, formulation ...
Clariant AG Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Neutral
The call mixed positive operational and cash‑flow improvements (pricing, margin expansion in Q2, improved free cash flow conversion, increased cost savings and a favorable legal ruling) with clear and material headwinds concentrated in the Catalysts business and group‑level volume, currency and inflationary pressures. Management maintained guidance and outlined actions to offset disruption, but Middle East uncertainty, restructuring costs and higher leverage remain key risks.Positive Updates
Q2 Revenue Resilience
Q2 sales of CHF 941 million, up 0.6% in local currency on a comparable basis; including portfolio pruning sales decreased by 0.3% in local currency.
Negative Updates
Significant Catalysts Volume and Profit Decline
Catalysts volumes declined 14.2% year‑on‑year in Q2 (around two‑thirds attributable to Middle East order delays); sales down 13.3% in local currency and 19.1% in CHF; EBITDA before exceptional items fell 32.5% to CHF 32.8 million and margin compressed to 18.6% from 22.3% prior year.
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Q2-2026 Updates
Positive
Negative
Q2 Revenue Resilience
Q2 sales of CHF 941 million, up 0.6% in local currency on a comparable basis; including portfolio pruning sales decreased by 0.3% in local currency.
Read all positive updates
Company Guidance
Clariant reiterated FY2026 guidance that group sales in local currency should be around 2025 levels and EBITDA before exceptional items about 18%, while flagging continued volatility from the Middle East and expecting raw‑material inflation to moderate in Q4; this outlook relies on pricing and cost actions (Q2 pricing +3%) offsetting lower volumes (Q2 volumes -3.3%; Catalysts volumes -14.2%, ~2/3 of that due to Middle East delays). Relevant metrics and context: Q2 sales CHF 941m, H1 sales CHF 1.859bn; group EBITDA before exceptional items H1 CHF 331m (margin 17.8%), reported H1 EBITDA CHF 300m (margin 16.1%); free cash‑flow conversion LTM 52% (up 15pp); net debt increased by CHF 79.2m to a net‑debt/LTM‑EBITDA ratio of 2.2x (from 2.0x end‑2025). The company raised its performance‑improvement target by CHF 20m to a CHF 100m run‑rate by 2027 (expecting CHF 90m run‑rate by end‑2026), has achieved CHF 69m to date (CHF 10m in Q2), and booked CHF 24m of restructuring charges in Q2 with only mid‑single‑digit restructuring costs expected for the remainder of the year; business‑line assumptions: growth in Adsorbents & Additives, slight underlying growth in Care Chemicals, and lower Catalysts sales due to order delays.Clariant AG Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
48
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.79B | 3.92B | 4.15B | 4.38B | 5.20B | 4.37B |
| Gross Profit | 1.18B | 1.22B | 1.26B | 1.20B | 1.02B | 1.29B |
| EBITDA | 622.80M | 650.00M | 696.00M | 510.00M | 337.00M | 723.00M |
| Net Income | -30.70M | -75.00M | 244.00M | 134.00M | -101.00M | 344.00M |
Balance Sheet | ||||||
| Total Assets | 6.05B | 5.87B | 6.26B | 5.35B | 6.19B | 7.04B |
| Cash, Cash Equivalents and Short-Term Investments | 634.40M | 617.00M | 471.00M | 593.00M | 758.00M | 476.00M |
| Total Debt | 2.13B | 2.03B | 1.88B | 1.35B | 1.46B | 1.95B |
| Total Liabilities | 3.87B | 3.69B | 3.76B | 3.17B | 3.67B | 4.49B |
| Stockholders Equity | 2.02B | 2.02B | 2.33B | 2.02B | 2.34B | 2.36B |
Cash Flow | ||||||
| Free Cash Flow | 302.10M | 234.00M | 209.00M | 214.00M | 290.00M | 3.00M |
| Operating Cash Flow | 431.10M | 379.00M | 418.00M | 421.00M | 502.00M | 363.00M |
| Investing Cash Flow | -191.20M | -309.00M | -805.00M | 45.00M | 140.00M | -143.00M |
| Financing Cash Flow | -129.90M | -28.00M | 277.00M | -356.00M | -652.00M | -538.00M |
Clariant AG Technical Analysis
Neutral
10.54
Price Trends
10.57
Negative
9.23
Positive
8.30
Positive
Market Momentum
>-0.01
Positive
43.45
Neutral
38.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:CLN, the sentiment is Neutral. The current price of 10.54 is above the 20-day moving average (MA) of 10.52, below the 50-day MA of 10.57, and above the 200-day MA of 8.30, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.45 is Neutral, neither overbought nor oversold. The STOCH value of 38.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:CLN.
Clariant AG Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | CHF20.94B | 44.11 | 24.00% | 2.07% | -3.17% | 2.71% | |
75 Outperform | CHF29.60B | 28.57 | ― | 1.99% | -4.22% | -14.86% | |
72 Outperform | CHF36.56B | 29.34 | ― | 1.82% | -1.75% | -12.84% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | CHF3.38B | -102.60 | -1.52% | 4.09% | -6.64% | -127.26% |
* Basic Materials Sector Average
CH:CLN
Clariant AG
10.26
3.42
49.96%
CH:GIVN
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513.28
14.88%
CH:SIKA
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185.70
13.66
7.94%
CH:EMSN
EMS-CHEMIE HOLDING AG
895.50
335.23
59.83%
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.