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Henkel AG
(OTC:HENKY)
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Rating:76Outperform
Price Target:
$23.50
â–²(14.52% Upside)
Action:Upgraded
Date:08/06/26
Overall score reflects solid fundamentals (stronger profitability, conservative leverage, and positive free cash flow) combined with supportive price momentum (above key moving averages with positive MACD). The score is held back by choppy top-line/cash-flow patterns and earnings-call risks around H2 margin pressure, FX headwinds, and increased leverage, while valuation remains reasonable but not exceptionally cheap.
Positive Factors
Broad-based organic growth
Growth across both operating segments indicates improving demand and broad commercial traction. Adhesives provides exposure to industrial applications, while Consumer Brands adds recurring household and personal-care demand, supporting business resilience.
Negative Factors
Uneven revenue momentum
A meaningful recent revenue decline and inconsistent historical growth weaken confidence in durable volume expansion. Henkel's scale and brand portfolio help, but uneven demand across regions and categories may limit operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based organic growth
Growth across both operating segments indicates improving demand and broad commercial traction. Adhesives provides exposure to industrial applications, while Consumer Brands adds recurring household and personal-care demand, supporting business resilience.
Read all positive factors
Henkel AG (HENKY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.29B
Dividend Yield2.94%
Average Volume (3M)17.25K
Price to Earnings (P/E)16.2
Beta (1Y)0.29
Revenue Growth3.56%
EPS Growth1.37%
CountryUS
Employees47,200
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)1.18
Shares Outstanding1,039,183,500
10 Day Avg. Volume15,893
30 Day Avg. Volume17,246
Financial Highlights & Ratios
PEG Ratio-9.44
Price to Book (P/B)1.32
Price to Sales (P/S)1.37
P/FCF Ratio15.40
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.59
Revenue Forecast (FY)$24.52B
Henkel AG Business Overview & Revenue Model
Company Description
Globally, Henkel AG & Co. KGaA, alongside its various subsidiaries, operates across three principal business segments: adhesive technologies, beauty care, and laundry and home care. Its Adhesive Technologies division provides a range of glues, sea...
How the Company Makes Money
Henkel makes money primarily by selling products from its two operating segments: (1) Adhesive Technologies and (2) Consumer Brands. Adhesive Technologies generates revenue by supplying adhesives, sealants, and functional coatings to industrial cu...
Henkel AG Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and strategic message: strong H1 organic growth (3.2%) with clear Q2 acceleration, robust margins and EPS growth (+7% at constant currency), improved free cash flow and an accelerated, value-accretive M&A program (EUR 5bn pipeline, EUR 1.6bn pro forma sales). However, the positives are tempered by meaningful FX headwinds (~-4%), ongoing raw material inflation (high-single-digit direct materials expectation) that is expected to weigh on margins in H2, one-off transaction and restructuring costs (EUR ~196m combined), and increased leverage (-EUR 1.9bn net financial position). On balance, achievements and growth drivers materially outweigh the challenges stated, though management remains cautious about H2 margin pressure and macro volatility.Positive Updates
Solid Group Organic Growth and Q2 Acceleration
Group organic net sales growth of 3.2% in H1 2026 with clear sequential acceleration in Q2 (Q2 organic growth ~7.4%), driven by both price (+1.1% group) and volume (+2.1% group) contributions.
Negative Updates
Foreign Exchange Headwind and Nominal Sales Decline
Reported nominal sales of EUR 10.3bn were -0.5% versus prior year, with foreign exchange impact of almost -4%, driven by a weaker U.S. dollar and related currencies.
Read all updates
Q2-2026 Updates
Positive
Negative
Solid Group Organic Growth and Q2 Acceleration
Group organic net sales growth of 3.2% in H1 2026 with clear sequential acceleration in Q2 (Q2 organic growth ~7.4%), driven by both price (+1.1% group) and volume (+2.1% group) contributions.
Read all positive updates
Company Guidance
Henkel upgraded its FY‑2026 top‑line outlook after a strong H1, now targeting group organic net sales growth of +1.5% to +3.5% (Adhesive Technologies +2% to +4%; Consumer Brands unchanged), while keeping adjusted EBIT margin guidance at 14.5%–16.0% and adjusted EPS growth at constant currencies in the low‑ to high‑single‑digit percent range; management warned of softer margins in H2 versus H1 due to raw‑material headwinds and the absence of H1 working‑day/forward‑buying benefits, expects recently closed acquisitions to contribute ~€700m of sales in 2026 and ~+1% to adjusted EPS in 2026 (ramping to at least +10% of EPS by 2030), and noted ~€5bn of acquisition investment with combined pro‑forma sales of €1.6bn (2025) rising toward €2bn by 2030.Henkel AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.57B | 19.69B | 21.59B | 21.51B | 22.40B | 20.07B |
| Gross Profit | 10.56B | 10.06B | 10.82B | 9.66B | 9.37B | 8.97B |
| EBITDA | 3.77B | 3.51B | 3.68B | 2.92B | 2.69B | 3.23B |
| Net Income | 1.93B | 1.95B | 2.01B | 1.32B | 1.26B | 1.63B |
Balance Sheet | ||||||
| Total Assets | 36.48B | 33.33B | 35.27B | 31.73B | 33.18B | 32.67B |
| Cash, Cash Equivalents and Short-Term Investments | 3.99B | 3.11B | 3.53B | 2.19B | 1.40B | 2.46B |
| Total Debt | 6.09B | 3.71B | 4.29B | 2.89B | 3.58B | 3.44B |
| Total Liabilities | 15.42B | 12.76B | 13.45B | 11.73B | 13.02B | 12.88B |
| Stockholders Equity | 20.97B | 20.49B | 21.73B | 19.92B | 20.08B | 19.71B |
Cash Flow | ||||||
| Free Cash Flow | 2.05B | 1.75B | 2.49B | 2.65B | 654.00M | 1.49B |
| Operating Cash Flow | 2.76B | 2.42B | 3.12B | 3.25B | 1.25B | 2.14B |
| Investing Cash Flow | -2.29B | -385.17M | -2.33B | -684.00M | -217.00M | -479.00M |
| Financing Cash Flow | 697.71M | -2.10B | 171.00M | -1.65B | -1.89B | -1.29B |
Henkel AG Technical Analysis
Positive
20.52
Price Trends
20.39
Positive
19.18
Positive
19.18
Positive
Market Momentum
<0.01
Positive
50.84
Neutral
24.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HENKY, the sentiment is Positive. The current price of 20.52 is below the 20-day moving average (MA) of 20.54, above the 50-day MA of 20.39, and above the 200-day MA of 19.18, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 50.84 is Neutral, neither overbought nor oversold. The STOCH value of 24.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HENKY.
Henkel AG Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $340.39B | 21.69 | 29.84% | 2.93% | 3.26% | 1.15% | |
76 Outperform | $34.29B | 16.23 | 9.23% | 2.94% | 3.56% | 1.37% | |
75 Outperform | $23.38B | 31.59 | 17.78% | 1.24% | 2.69% | 46.04% | |
70 Outperform | $138.64B | 21.48 | 37.05% | 3.46% | -17.45% | 8.84% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $70.77B | 34.89 | 631.14% | 2.37% | 5.24% | -29.04% | |
49 Neutral | $11.25B | 19.31 | -1893.55% | 5.34% | -5.41% | -26.46% |
* Consumer Defensive Sector Average
HENKY
Henkel AG
20.47
0.88
4.46%
CHD
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98.55
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CLX
Clorox
93.06
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CL
Colgate-Palmolive
88.77
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8.08%
PG
Procter & Gamble
146.44
-8.03
-5.20%
UL
Unilever
64.20
-2.08
-3.13%
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.