Robertet SA Cert.d'Invest. Em.87 (CBE) AI Stock Analysis

Robertet SA Cert.d'Invest. Em.87

(Paris:CBE)

Select Model

Rating:72Outperform

Price Target:EUR 705.00▲(12.80% Upside)

Action:reiterated

Date:09/23/26

Robertet's overall score of 72 reflects a strong fundamental business facing significant near-term market headwinds. The company's robust financial performance, healthy balance sheet, and positive long-term growth outlook from the earnings call are key strengths. However, the stock is under severe technical pressure, trading in deeply oversold territory below all major moving averages, which significantly weighs on the score. The reasonable valuation and positive earnings call sentiment provide support, but the bearish technicals are the primary detractor.

Positive Factors

Diversified growth from natural ingredients and international expansionStrong positioning in natural ingredients, premiumization and vertically integrated know-how gives Robertet multiple durable growth engines. Its broad catalog and expanding international footprint can strengthen customer relevance, support geographic diversification and reduce reliance on any single market over the next several quarters.

Negative Factors

Volatile cash-flow conversionPositive free cash flow is encouraging, but operating cash flow converting only slightly over half of net income in 2024–2025 signals uneven cash realization. Working-capital or investment swings can make internally generated funding less predictable and complicate capital allocation across future growth projects.

Robertet SA Cert.d'Invest. Em.87 (CBE) vs. iShares MSCI France ETF (EWQ)

Market Cap: EUR 1.57B
Dividend Yield: 1.92%
Average Volume (3M): 20
Price to Earnings (P/E): 16.0
Beta (1Y): 0.46
Revenue Growth: 0.30%
EPS Growth: 0.78%
Country: France
Employees: 2,750
Sector: Basic Materials
Sector Strength: 61
Industry: Chemicals

Robertet SA Cert.d'Invest. Em.87 Business Overview & Revenue Model

Company Description

Robertet S.A. is a company dedicated to the creation and distribution of perfumes, flavorings, and natural ingredients. Its operations are structured across three primary segments: Raw Materials, Fragrances, and Flavors. The company also manufactures...

Robertet SA Cert.d'Invest. Em.87 Earnings Call Summary

Earnings Call Date:Sep 16, 2026(Q2-2026)|% Change Since:-4.58%|Next Earnings Date:Apr 20, 2027

Earnings Call SentimentPositive

The call was predominantly positive. Robertet delivered positive organic growth, strong Fragrance and Health and Beauty performance, robust profitability, improved operating cash flow, positive free cash flow, strong sustainability credentials, and continued international investment. The main challenges were the reported revenue decline, weaker Raw Materials and Flavors performance, currency and oil-related cost headwinds, a cautious mature-market environment, and limited M&A execution. Management nevertheless maintained its full-year growth and profitability objectives and reiterated its long-term growth ambitions.

Positive Updates

Positive Organic Growth Despite Moderate Market Conditions

Organic growth reached 2.8% in the first half despite adverse currency effects and contrasting divisional trends. Organic growth was 4.9% in the first quarter and 0.7% in the second quarter.

Negative Updates

Reported Revenue Decline

First-half revenue reached EUR 444 million, representing a 0.5% decline, primarily against a very strong first half of 2025. Currency effects reduced reported growth by 3 percentage points, mainly because of the strengthening euro against most group currencies, especially the U.S. dollar, while scope effects were slightly negative.

Company Guidance

For 2026, Robertet will target an organic growth of between +3% and +5% for the full-year, with an EBITDA above 21%; management also said the year to go will be between +4.7% and +7%, and that the second half will be a bit more pricing driven than volume driven. The company is targeting an EBIT in line with the past three years, clarified as being at the EBITDA level, not at the margin level, while its long-term guidance remains to be above 20%. CapEx is expected to remain between 4% and 5% of sales. Under Seed to Success 2030, Robertet wants to reach between EUR 1.1 billion and EUR 1.2 billion by 2030, implying an annual average growth of 5%-7% between 2025 and 2030, including EUR 50 million to EUR 80 million of revenues from targeted acquisitions over this period.

Robertet SA Cert.d'Invest. Em.87 Financial Statement Overview

Summary

Robertet demonstrates solid financial health with a 9.4% revenue CAGR, expanding EBIT margins to 16.4%, and net income doubling. The balance sheet is prudent with debt-to-equity declining to 0.39 and a healthy 17.2% ROE. Strong operating cash flow of €111M supports operations, though free cash flow has shown some variability.

Income Statement

85Very Positive

Balance Sheet

85Very Positive

Cash Flow

80Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	841.88M	843.93M	807.61M	721.13M	703.04M	606.09M
Gross Profit	139.01M	146.61M	455.19M	391.79M	373.36M	101.89M
EBITDA	21.35M	168.21M	160.03M	132.89M	125.61M	116.20M
Net Income	99.08M	103.43M	90.07M	74.60M	76.02M	71.71M
Balance Sheet
Total Assets	1.08B	1.00B	1.01B	927.13M	847.21M	783.29M
Cash, Cash Equivalents and Short-Term Investments	176.98M	180.67M	193.47M	172.59M	128.06M	190.01M
Total Debt	256.71M	233.33M	268.00M	325.63M	297.87M	112.73M
Total Liabilities	430.01M	399.53M	456.07M	460.72M	431.43M	237.39M
Stockholders Equity	647.10M	602.50M	551.80M	465.51M	414.99M	545.73M
Cash Flow
Free Cash Flow	72.51M	67.13M	73.82M	84.47M	24.11M	64.34M
Operating Cash Flow	117.81M	110.98M	112.41M	101.82M	46.87M	85.12M
Investing Cash Flow	-76.15M	-65.93M	-38.33M	-81.21M	-67.36M	-45.83M
Financing Cash Flow	-60.10M	-58.52M	-58.93M	-2.30M	-43.28M	-4.69M

Robertet SA Cert.d'Invest. Em.87 Technical Analysis

Technical Analysis SentimentNegative

Last Price625.00

Price Trends

50DMA645.03Negative

100DMA656.35Negative

200DMA677.90Negative

Market Momentum

MACD-5.61Negative

RSI43.78Neutral

STOCH33.33Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:CBE, the sentiment is Negative. The current price of 625.00 is below the 20-day moving average (MA) of 626.68, below the 50-day MA of 645.03, and below the 200-day MA of 677.90, indicating a bearish trend. The MACD of -5.61 indicates Negative momentum. The RSI at 43.78 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:CBE.

Robertet SA Cert.d'Invest. Em.87 Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

FR:CBE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FR:CBE	72Outperform	EUR 1.57B	16.03	―	1.92%	0.30%	0.78%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FR:ALBKK	55Neutral	EUR 74.86M	45.33	3.51%	1.47%	6.97%	-73.50%
FR:ALAFY	39Underperform	EUR 87.81M	-11.44	-7.49%	―	-13.62%	54.46%

* Basic Materials Sector Average

Performance Comparison

FR:CBE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
FR:CBE	Robertet SA Cert.d'Invest. Em.87	625.00	-82.39	-11.65%
FR:ALAFY	AFYREN	2.26	0.14	6.60%
FR:ALBKK	Baikowski SA	20.40	-2.32	-10.23%

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.

Date of analysis: Sep 23, 2026

Robertet SA Cert.d'Invest. Em.87 AI Stock Analysis