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ForFarmers N.V.
(FFARM)
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Rating:66Neutral
Price Target:
€6.50
▲(13.64% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by improving financial performance (earnings and cash flow recovery) and supportive valuation (low P/E and strong dividend yield). These positives are tempered by weak technicals (below key moving averages with negative MACD) and underlying fundamental risks from thin/volatile margins and rising leverage.
Positive Factors
Revenue recovery
The return to revenue growth indicates improving demand and market execution after a weak period. Sustained feed volumes across European livestock markets would support manufacturing utilization, customer relationships and the company’s ability to rebuild earnings.
Negative Factors
Margin compression
Sharp gross-margin compression and persistently thin net margins leave limited room for input-cost inflation, pricing pressure or operational setbacks. This reduces the durability of the earnings recovery and increases dependence on disciplined cost and pricing management.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue recovery
The return to revenue growth indicates improving demand and market execution after a weak period. Sustained feed volumes across European livestock markets would support manufacturing utilization, customer relationships and the company’s ability to rebuild earnings.
Read all positive factors
ForFarmers N.V. (FFARM) vs. iShares MSCI Netherlands ETF (EWN)
Market Cap
€509.65M
Dividend Yield5.25%
Average Volume (3M)80.19K
Price to Earnings (P/E)9.7
Beta (1Y)0.56
Revenue Growth6.63%
EPS Growth3.62%
CountryNL
Employees2,854
SectorGeneral
Sector StrengthN/A
IndustryAgricultural - Commodities/Milling
Share Statistics
EPS (TTM)0.59
Shares Outstanding89,283,810
10 Day Avg. Volume75,719
30 Day Avg. Volume80,186
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.10
Price to Sales (P/S)0.12
P/FCF Ratio3.99
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)0.66
Revenue Forecast (FY)€3.18B
ForFarmers N.V. Business Overview & Revenue Model
Company Description
ForFarmers N.V. specializes in delivering animal nutrition solutions to both conventional and organic livestock producers across the Netherlands, Belgium, Germany, Poland, and the United Kingdom. The company's diverse offerings encompass a range o...
How the Company Makes Money
ForFarmers primarily makes money by selling animal feed products to livestock farmers and other agricultural customers. The company’s core revenue stream is the sale of compound feed (complete feed formulations produced in its feed mills) across i...
ForFarmers N.V. Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
66
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.16B | 3.15B | 2.75B | 2.97B | 3.31B | 2.67B |
| Gross Profit | 233.60M | 339.90M | 481.00M | 477.30M | 494.80M | 436.27M |
| EBITDA | 172.80M | 163.80M | 82.50M | 52.70M | 69.30M | 66.11M |
| Net Income | 52.60M | 49.90M | 31.40M | -1.00M | 18.00M | 12.00M |
Balance Sheet | ||||||
| Total Assets | 1.11B | 1.11B | 942.10M | 840.80M | 1.02B | 943.44M |
| Cash, Cash Equivalents and Short-Term Investments | 83.10M | 109.70M | 50.70M | 46.50M | 68.40M | 68.27M |
| Total Debt | 173.90M | 173.60M | 159.80M | 108.50M | 166.80M | 131.64M |
| Total Liabilities | 675.60M | 672.00M | 603.80M | 520.40M | 676.20M | 577.18M |
| Stockholders Equity | 355.30M | 357.80M | 328.40M | 311.50M | 335.10M | 360.53M |
Cash Flow | ||||||
| Free Cash Flow | 81.70M | 98.40M | 43.40M | 55.10M | 12.90M | 15.05M |
| Operating Cash Flow | 131.00M | 149.30M | 70.20M | 86.50M | 48.20M | 54.68M |
| Investing Cash Flow | -59.40M | -36.00M | -78.30M | -7.20M | -34.80M | -55.64M |
| Financing Cash Flow | -39.90M | -30.30M | -7.40M | -66.90M | -17.80M | -2.49M |
ForFarmers N.V. Technical Analysis
Negative
5.72
Price Trends
6.01
Negative
6.11
Negative
5.63
Positive
Market Momentum
-0.07
Positive
38.10
Neutral
14.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:FFARM, the sentiment is Negative. The current price of 5.72 is below the 20-day moving average (MA) of 5.84, below the 50-day MA of 6.01, and above the 200-day MA of 5.63, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 38.10 is Neutral, neither overbought nor oversold. The STOCH value of 14.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:FFARM.
ForFarmers N.V. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €609.08M | 21.89 | 33.48% | 3.74% | 13.16% | 33.11% | |
71 Outperform | €719.02M | 12.27 | 17.21% | 6.15% | -2.56% | -15.44% | |
66 Neutral | €509.65M | 9.68 | 14.57% | 5.02% | 6.63% | 3.62% | |
62 Neutral | €5.85B | 25.42 | 10.83% | 2.05% | 2.64% | -14.83% | |
60 Neutral | €1.16B | 18.74 | 10.19% | 3.42% | -3.37% | -8.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | €853.72M | -2.89 | 12.51% | 172.17% | ― | ― |
* General Sector Average
NL:FFARM
ForFarmers N.V.
5.71
1.33
30.42%
NL:ACOMO
Acomo N.V.
24.30
3.07
14.46%
NL:CRBN
Corbion NV
20.24
3.67
22.19%
NL:IMCD
IMCD N.V.
99.14
5.34
5.69%
NL:NEDAP
Nedap N.V
93.90
5.52
6.25%
NL:OCI
OCI N.V.
4.05
-0.77
-15.98%
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.