UMI Stock Analysis: Umicore S.A. | BR
Waste Management | BR, Belgium | Market Cap: 4.650m EUR | 12M Return: 39.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.5M
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Umicore SA is a Belgian materials technology and recycling company that operates across four segments: Battery Materials, Catalysis, Recycling, and Specialty Materials. Founded in 1805 and headquartered in Brussels, the company serves customers in Europe, Asia-Pacific, North America, South America, and Africa. It was formerly known as Union Minière du Haut Katanga before adopting the Umicore name in 2001.
The Battery Materials segment produces cathode materials and precursors for lithium-ion batteries, along with cobalt and nickel refining, positioning the company as a supplier in the EV battery value chain. The Catalysis segment supplies automotive catalysts for gasoline, diesel, and heavy-duty applications, as well as stationary industrial emissions control and fuel cell catalysts, tying the business to global emissions regulations. The Recycling segment focuses on precious metals refining and recovering specialty metals from complex waste streams, while Specialty Materials offers cobalt, nickel, germanium-based products, and metal deposition solutions for electronics, optics, and industrial coatings.
As a specialty chemicals player within the broader Materials sector, Umicores business model combines primary metals refining with closed-loop recycling, allowing it to recover value from end-of-life materials and reintroduce them into supply chains. Its exposure spans both cyclical end-markets (autos, industrial) and structural growth themes such as electrified mobility and renewable energy storage.
- Cathode materials margins compress on global oversupply
- Catalysis segment pressured by declining European ICE vehicle production
- Precious metals recycling benefits from elevated gold and PGM prices
| Net Income: 384.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.99 > 1.0 |
| NWC/Revenue: 7.66% < 20% (prev 8.49%; Δ -0.83% < -1%) |
| CFO/TA 0.07 > 3% & CFO 620.5m > Net Income 384.5m |
| Net Debt (1.34b) to EBITDA (1.32b): 1.02 < 3 |
| Current Ratio: 1.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (241.3m) vs 12m ago 0.38% < -2% |
| Gross Margin: 7.21% > 18% (prev 7.27%; Δ -0.06% > 0.5%) |
| Asset Turnover: 205.3% > 50% (prev 157.8%; Δ 47.51% > 0%) |
| Interest Coverage Ratio: 6.87 > 6 (EBIT TTM 1.03b / Interest Expense TTM 149.7m) |
| A: 0.16 (Total Current Assets 5.74b - Total Current Liabilities 4.25b) / Total Assets 9.46b |
| B: 0.14 (Retained Earnings 1.36b / Total Assets 9.46b) |
| C: 0.11 (EBIT TTM 1.03b / Avg Total Assets 9.44b) |
| D: 0.31 (Book Value of Equity 2.24b / Total Liabilities 7.18b) |
| Altman-Z'' = 2.56 = A |
| DSRI: 1.61 (Receivables 1.62b/770.8m, Revenue 19.4b/14.9b) |
| GMI: 1.01 (GM 7.27% / 7.21%) |
| AQI: 0.96 (AQ_t 0.14 / AQ_t-1 0.15) |
| SGI: 1.30 (Revenue 19.4b / 14.9b) |
| TATA: -0.02 (NI 384.5m - CFO 620.5m) / TA 9.46b) |
| Beneish M = -2.32 (Cap -4..+1) = BBB |
As of July 29, 2026, the stock is trading at EUR 20.06 with a total of 456,597 shares traded. Over the past week, the price has changed by +3.94%, over one month by -1.86%, over three months by +20.63% and over the past year by +39.62%.
Current recommended Stop Loss: 19.00 (which is 5.3% or 1.4 ATR below the current price).
Umicore S.A. has no consensus analysts rating.
P/E Trailing = 12.1572
P/E Forward = 13.3333
P/S = 0.2408
P/B = 2.0767
P/EG = 2.6249
Revenue TTM = 19.4b EUR
EBIT TTM = 1.03b EUR
EBITDA TTM = 1.32b EUR
Long Term Debt = 2.21b EUR (from longTermDebt, last quarter)
Short Term Debt = 597.2m EUR (from shortTermDebt, last quarter)
Debt = 2.90b EUR (from shortLongTermDebtTotal, last quarter) + Leases 61.2m
Net Debt = 1.34b EUR (calculated: Debt 2.90b - CCE 1.56b)
Enterprise Value = 5.99b EUR (4.65b + Debt 2.90b - CCE 1.56b)
Interest Coverage Ratio = 6.87 (Ebit TTM 1.03b / Interest Expense TTM 149.7m)
EV/FCF = 13.68x (Enterprise Value 5.99b / FCF TTM 438.1m)
FCF Yield = 7.31% (FCF TTM 438.1m / Enterprise Value 5.99b)
FCF Margin = 2.26% (FCF TTM 438.1m / Revenue TTM 19.4b)
Net Margin = 1.98% (Net Income TTM 384.5m / Revenue TTM 19.4b)
Gross Margin = 7.21% ((Revenue TTM 19.4b - Cost of Revenue TTM 18.0b) / Revenue TTM)
Gross Margin QoQ = 7.20% (prev 7.28%)
Tobins Q-Ratio = 0.63 (Enterprise Value 5.99b / Total Assets 9.46b)
Interest Expense / Debt = 5.16% (Interest Expense 149.7m / Debt 2.90b)
Taxrate = 49.53% (382.2m / 771.7m)
NOPAT = 518.8m (EBIT 1.03b * (1 - 49.53%))
Current Ratio = 1.35 (Total Current Assets 5.74b / Total Current Liabilities 4.25b)
Debt / Equity = 1.30 (Debt 2.90b / totalStockholderEquity, last quarter 2.24b)
Debt / EBITDA = 1.02 (Net Debt 1.34b / EBITDA 1.32b)
Debt / FCF = 3.07 (Net Debt 1.34b / FCF TTM 438.1m)
Total Stockholder Equity = 2.07b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.07% (Net Income 384.5m / Total Assets 9.46b)
RoE = 18.60% (Net Income TTM 384.5m / Total Stockholder Equity 2.07b)
RoCE = 24.03% (EBIT 1.03b / Capital Employed (Equity 2.07b + L.T.Debt 2.21b))
RoIC = 10.73% (NOPAT 518.8m / Invested Capital 4.84b)
WACC = 7.50% (E(4.65b)/V(7.55b) * Re(10.55%) + D(2.90b)/V(7.55b) * Rd(5.16%) * (1-Tc(0.50)))
Discount Rate = 10.55% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -48.35 | Cagr: -0.12%
[DCF] Terminal Value 77.97% ; FCFF base≈399.9m ; Y1≈458.5m ; Y5≈674.7m
[DCF] Fair Price = 36.62 (EV 10.2b - Net Debt 1.34b = Equity 8.81b / Shares 240.6m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -47.21 | Revenue CAGR: -10.41% | SUE: 3.34 | # QB: 1
EPS current Year (2026-12-31): EPS=1.72 | Chg30d=+8.59% | Revisions=+50% | GrowthEPS=+43.5% | GrowthRev=+7.7%
EPS next Year (2027-12-31): EPS=1.79 | Chg30d=+5.95% | Revisions=+38% | GrowthEPS=+4.2% | GrowthRev=+3.9%
[Analyst] Revisions Ratio: +55% (up=7, down=1)