| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 31.43 | 20 |
| Intrinsic value (DCF) | 284.08 | 983 |
| Graham-Dodd Method | n/a | |
| Graham Formula | n/a |
Imerys S.A. (NK.PA) is a global leader in mineral-based specialty solutions, serving diverse industries such as construction, automotive, paper, energy, and cosmetics. Headquartered in Paris, France, and founded in 1880, Imerys operates through two key segments: Performance Minerals and High Temperature Solutions. The company provides essential additives for paints, rubber, ceramics, plastics, and filtration, along with refractory materials for industrial processes. With a strong focus on innovation, Imerys supplies high-performance binders for construction, graphite for lithium-ion batteries, and alumina for abrasives. Its broad product portfolio caters to sustainability-driven markets, including renewable energy and eco-friendly construction materials. As a subsidiary of Belgian Securities BV, Imerys maintains a global footprint, leveraging its expertise in mineral processing to deliver tailored solutions that enhance product performance and efficiency across multiple sectors.
Imerys S.A. presents a mixed investment profile. The company's diversified mineral-based solutions and strong industry positioning provide resilience, but recent financials show challenges, including a net loss of €95 million in the latest fiscal year. Positive aspects include solid operating cash flow (€478 million) and a dividend yield supported by a €1.45 per share payout. However, high total debt (€1.91 billion) and negative EPS (-€1.12) raise concerns. The stock's beta of 1.09 indicates moderate volatility, aligning with sector norms. Investors should weigh Imerys' market leadership against macroeconomic risks in construction and industrial demand. Potential upside lies in growth sectors like battery materials and sustainable construction, but execution risks and debt management remain critical factors.
Imerys S.A. holds a competitive edge through its specialized mineral solutions and global supply chain, serving niche markets where technical expertise is paramount. Its Performance Minerals segment benefits from long-term customer relationships in ceramics, paints, and plastics, while High Temperature Solutions cater to demanding industrial applications. The company’s focus on sustainability, particularly in battery materials (graphite for lithium-ion) and eco-friendly construction additives, aligns with growing market trends. However, Imerys faces pricing pressure from commoditized mineral producers and competition from larger chemical conglomerates with broader R&D budgets. Its recent net losses suggest operational inefficiencies or cyclical downturns in key markets like construction. Strategic divestitures and cost optimization could strengthen margins, but reliance on industrial demand makes it vulnerable to economic slowdowns. Competitors with stronger balance sheets or vertical integration may outperform in commoditized segments.