IMCD N.V. (IMCD) AI Stock Analysis

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IMCD N.V.

(Amsterdam:IMCD)

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Rating:65.5Neutral

Price Target:EUR 111.00▲(6.83% Upside)

Action:reiterated

Date:11/07/26

The score is driven primarily by fundamentally solid but weakening recent financial performance (notable 2025 margin compression and higher leverage), partly offset by strong cash generation. Technicals are supportive with price above key moving averages and positive MACD, while valuation is a meaningful headwind given the higher P/E alongside recent profitability deterioration.

Positive Factors

Diversified specialty distribution platformExposure across multiple specialty chemicals and ingredient end markets broadens the company’s customer and demand base. Its local commercial teams, technical expertise, regulatory support, and logistics create a value-added distribution role that can support durable supplier and customer relationships.

Negative Factors

Recent revenue and margin deteriorationThe 2025 revenue reversal and pronounced profitability compression indicate that recent operating momentum has weakened. If this deterioration persists, lower margins could reduce internal funding capacity and make it harder for the company to convert its broad market presence into sustained earnings growth.

IMCD N.V. (IMCD) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 6.04B
Dividend Yield: 1.74%
Average Volume (3M): 131.02K
Price to Earnings (P/E): 26.6
Beta (1Y): 1.19
Revenue Growth: 2.64%
EPS Growth: -14.83%
Country: Netherlands
Employees: 5,237
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

IMCD N.V. Business Overview & Revenue Model

Company Description

Founded in Rotterdam, the Netherlands, in 1995, IMCD N.V. operates as a leading global distributor and marketer of a diverse range of specialized chemicals and premium ingredients. Its extensive operations span across the Netherlands, the wider Europ...

How the Company Makes Money

IMCD primarily makes money by distributing specialty chemicals and ingredients on behalf of producers and selling them to industrial customers at a markup (or earning an agreed margin) between its purchase cost from suppliers and the selling price to...

IMCD N.V. Financial Statement Overview

Summary

Financials are fundamentally solid but under near-term pressure. Revenue grew strongly over 2020–2024, yet 2025 shows a modest revenue decline and a sharp profitability step-down (material gross and operating margin compression). Balance sheet leverage has risen to the high-0.7x/0.8x debt-to-equity range, reducing flexibility, though equity remains sizable. Cash flow is a relative bright spot with consistently strong free cash flow versus net income and a 2025 rebound, supporting earnings quality.

Income Statement

66Positive

Balance Sheet

61Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.94B	4.78B	4.73B	4.44B	4.60B	3.44B
Gross Profit	482.07M	471.80M	1.20B	1.12B	1.15B	836.32M
EBITDA	532.16M	507.47M	589.14M	566.90M	574.95M	394.79M
Net Income	230.21M	217.58M	278.24M	292.27M	313.08M	207.28M
Balance Sheet
Total Assets	4.95B	4.64B	4.88B	4.15B	3.64B	3.27B
Cash, Cash Equivalents and Short-Term Investments	248.67M	238.59M	522.78M	394.46M	222.00M	177.88M
Total Debt	1.81B	1.70B	1.73B	1.28B	722.60M	409.63M
Total Liabilities	2.82B	2.59B	2.66B	2.43B	1.97B	1.81B
Stockholders Equity	2.12B	2.04B	2.21B	1.72B	1.67B	1.46B
Cash Flow
Free Cash Flow	370.40M	301.98M	252.76M	382.54M	277.58M	177.55M
Operating Cash Flow	383.98M	322.28M	279.21M	420.01M	298.84M	196.26M
Investing Cash Flow	-266.06M	-455.74M	-387.95M	-394.59M	-255.36M	-196.13M
Financing Cash Flow	-46.24M	-117.39M	247.06M	216.97M	-20.00K	4.73M

IMCD N.V. Technical Analysis

Technical Analysis SentimentPositive

Last Price103.90

Price Trends

50DMA99.33Positive

100DMA95.66Positive

200DMA90.95Positive

Market Momentum

MACD1.09Positive

RSI59.54Neutral

STOCH55.87Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:IMCD, the sentiment is Positive. The current price of 103.90 is above the 20-day moving average (MA) of 102.32, above the 50-day MA of 99.33, and above the 200-day MA of 90.95, indicating a bullish trend. The MACD of 1.09 indicates Positive momentum. The RSI at 59.54 is Neutral, neither overbought nor oversold. The STOCH value of 55.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NL:IMCD.

IMCD N.V. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:IMCD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:ACOMO	71Outperform	EUR 682.03M	11.67	13.37%	6.06%	-2.56%	-15.44%
NL:CRBN	68Neutral	EUR 1.53B	24.61	8.30%	2.41%	-3.37%	-8.22%
NL:IMCD	66Neutral	EUR 6.04B	26.64	11.06%	1.74%	2.64%	-14.83%
NL:DSFIR	62Neutral	EUR 25.41B	-21.82	―	2.38%	-44.75%	-301.20%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NL:OCI	52Neutral	EUR 862.16M	-72.23	-13.87%	―	―	―
NL:AVTX	41Neutral	EUR 113.51M	-1.26	-25.04%	―	-32.85%	26.72%

* General Sector Average

Performance Comparison

NL:IMCD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:IMCD	IMCD N.V.	103.90	30.44	41.43%
NL:ACOMO	Acomo N.V.	23.10	0.97	4.39%
NL:AVTX	Avantium N.V.	1.89	-2.29	-54.68%
NL:CRBN	Corbion NV	26.58	9.56	56.16%
NL:OCI	OCI N.V.	4.09	0.66	19.38%
NL:DSFIR	DSM-Firmenich AG	105.15	37.08	54.47%

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: Nov 07, 2026

IMCD N.V. AI Stock Analysis