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Robertet SA Cert.d'Invest. Em.87
(CBE)
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Rating:67Neutral
Price Target:
€689.00
▼(-11.44% Downside)
Action:Reiterated
Date:09/23/26
The score is driven primarily by solid underlying financial performance (growth, profitability, and improving leverage) and a reasonable valuation. These positives are tempered by weak technicals (downtrend and bearish momentum) and some quality concerns around cash-flow variability, while the latest earnings call supports the outlook with maintained growth and EBITDA guidance but acknowledges demand and margin headwinds.
Positive Factors
Diversified growth from natural ingredients and international expansion
Strong 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 conversion
Positive 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified growth from natural ingredients and international expansion
Strong 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.
Read all positive factors
Robertet SA Cert.d'Invest. Em.87 (CBE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€1.49B
Dividend Yield1.89%
Average Volume (3M)17.00
Price to Earnings (P/E)15.4
Beta (1Y)0.49
Revenue Growth0.30%
EPS Growth0.78%
CountryFR
Employees2,750
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)49.98
Shares Outstanding122,792
10 Day Avg. Volume13
30 Day Avg. Volume17
Financial Highlights & Ratios
PEG Ratio1.71
Price to Book (P/B)3.16
Price to Sales (P/S)2.26
P/FCF Ratio28.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)45.51
Revenue Forecast (FY)€866.24M
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 manufactu...
Robertet SA Cert.d'Invest. Em.87 Earnings Call Summary
Earnings Call Date:Sep 17, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 21, 2027
Earnings Call Sentiment Positive
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.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 843.93M | 807.61M | 721.13M | 703.04M | 606.09M |
| Gross Profit | 146.61M | 455.19M | 391.79M | 373.36M | 101.89M |
| EBITDA | 168.31M | 160.03M | 132.89M | 125.61M | 115.44M |
| Net Income | 103.43M | 90.07M | 74.60M | 76.02M | 71.71M |
Balance Sheet | |||||
| Total Assets | 1.00B | 1.01B | 927.13M | 847.21M | 783.29M |
| Cash, Cash Equivalents and Short-Term Investments | 180.67M | 193.47M | 172.59M | 128.06M | 190.01M |
| Total Debt | 233.33M | 268.00M | 325.63M | 297.87M | 112.73M |
| Total Liabilities | 399.53M | 456.07M | 460.72M | 431.43M | 237.39M |
| Stockholders Equity | 602.50M | 551.80M | 465.51M | 414.99M | 545.73M |
Cash Flow | |||||
| Free Cash Flow | 67.13M | 73.82M | 84.47M | 24.11M | 64.34M |
| Operating Cash Flow | 110.98M | 112.41M | 101.82M | 46.87M | 85.12M |
| Investing Cash Flow | -65.93M | -38.33M | -81.21M | -67.36M | -45.83M |
| Financing Cash Flow | -58.52M | -58.93M | -2.30M | -43.28M | -4.69M |
Robertet SA Cert.d'Invest. Em.87 Technical Analysis
Negative
778.00
Price Trends
664.89
Negative
669.29
Negative
695.96
Negative
Market Momentum
-8.65
Positive
23.57
Positive
5.87
Positive
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 778 is above the 20-day moving average (MA) of 666.07, above the 50-day MA of 664.89, and above the 200-day MA of 695.96, indicating a bearish trend. The MACD of -8.65 indicates Positive momentum. The RSI at 23.57 is Positive, neither overbought nor oversold. The STOCH value of 5.87 is Positive, 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
UnderperformOutperform
Sector (61)
FR:CBE
Robertet SA Cert.d'Invest. Em.87
635.10
-50.67
-7.39%
FR:ALAFY
AFYREN
2.57
0.03
1.18%
FR:ALBKK
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22.80
2.05
9.89%
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.