| KPI | [EUR m] | Q3 2025 | FY 2025 | Q3 2026 E | Q4 2026 E | FY 2026 E | FY 2027 E | FY 2028 E | FY 2029 E |
|---|---|---|---|---|---|---|---|---|---|
| Sales | Number of Estimates | 7 | 7 | 9 | 8 | 8 | 4 | ||
| Sales | Highest | 4,594.7 | 3,668.6 | 15,476.6 | 15,084.0 | 15,378.0 | 15,460.9 | ||
| Sales | Average | 3,858.8 | 3,456.6 | 14,722.1 | 14,562.5 | 14,847.6 | 15,026.2 | ||
| Sales | Consensus (Median) | 3,391.0 | 14,069.0 | 3,715.5 | 3,468.0 | 14,626.8 | 14,520.7 | 14,896.4 | 15,002.6 |
| Sales | Lowest | 3,635.0 | 3,123.3 | 14,159.8 | 13,885.2 | 14,202.4 | 14,639.0 | ||
| Adjusted EBITDA | Number of Estimates | 7 | 7 | 9 | 8 | 8 | 4 | ||
| Adjusted EBITDA | Highest | 651.3 | 496.1 | 2,241.1 | 2,144.8 | 2,210.1 | 2,336.0 | ||
| Adjusted EBITDA | Average | 630.5 | 451.9 | 2,187.3 | 2,029.3 | 2,093.3 | 2,180.5 | ||
| Adjusted EBITDA | Consensus (Median) | 448.0 | 1,874.0 | 634.4 | 457.0 | 2,207.7 | 2,039.4 | 2,133.9 | 2,206.1 |
| Adjusted EBITDA | Lowest | 601.9 | 380.1 | 2,122.5 | 1,878.2 | 1,952.7 | 1,973.8 | ||
| Adjusted EBIT | Number of Estimates | 7 | 7 | 9 | 8 | 8 | 4 | ||
| Adjusted EBIT | Highest | 397.3 | 221.5 | 1,220.2 | 1,137.0 | 1,240.0 | 1,273.3 | ||
| Adjusted EBIT | Average | 372.5 | 192.2 | 1,173.6 | 1,031.2 | 1,093.8 | 1,156.2 | ||
| Adjusted EBIT | Consensus (Median) | 197.0 | 861.0 | 380.7 | 197.4 | 1,170.9 | 1,029.9 | 1,122.6 | 1,192.0 |
| Adjusted EBIT | Lowest | 330.5 | 153.4 | 1,122.1 | 869.0 | 952.7 | 967.4 | ||
| Adjusted net financial results | Number of Estimates | 7 | 7 | 9 | 8 | 8 | 4 | ||
| Adjusted net financial results | Highest | -35.1 | -26.4 | -130.3 | -113.1 | -93.5 | -119.6 | ||
| Adjusted net financial results | Average | -40.6 | -38.0 | -158.6 | -150.8 | -144.1 | -140.3 | ||
| Adjusted net financial results | Consensus (Median) | -52.0 | -162.0 | -39.0 | -36.5 | -160.0 | -151.0 | -139.4 | -126.7 |
| Adjusted net financial results | Lowest | -48.0 | -54.0 | -189.0 | -188.1 | -188.1 | -188.1 | ||
| Adjusted net income (Evonik definition) | Number of Estimates | 6 | 6 | 9 | 8 | 8 | 4 | ||
| Adjusted net income (Evonik definition) | Highest | 279.8 | 141.1 | 882.6 | 800.2 | 899.0 | 876.7 | ||
| Adjusted net income (Evonik definition) | Average | 236.4 | 95.5 | 789.9 | 682.4 | 729.5 | 806.0 | ||
| Adjusted net income (Evonik definition) | Consensus (Median) | 128.0 | 634.0 | 255.6 | 115.2 | 805.0 | 676.9 | 738.8 | 834.3 |
| Adjusted net income (Evonik definition) | Lowest | 160.3 | -16.5 | 702.9 | 568.7 | 554.4 | 678.6 | ||
| Adjusted EPS (in Euro) (Evonik definition) | Number of Estimates | 6 | 6 | 9 | 8 | 8 | 4 | ||
| Adjusted EPS (in Euro) (Evonik definition) | Highest | 0.60 | 0.30 | 1.89 | 1.72 | 1.93 | 1.88 | ||
| Adjusted EPS (in Euro) (Evonik definition) | Average | 0.51 | 0.21 | 1.70 | 1.46 | 1.57 | 1.73 | ||
| Adjusted EPS (in Euro) (Evonik definition) | Consensus (Median) | 0.27 | 1.36 | 0.55 | 0.25 | 1.73 | 1.45 | 1.59 | 1.79 |
| Adjusted EPS (in Euro) (Evonik definition) | Lowest | 0.34 | -0.04 | 1.51 | 1.22 | 1.19 | 1.46 | ||
| Adjustments | Number of Estimates | 5 | 5 | 8 | 7 | 7 | 3 | ||
| Adjustments | Highest | 0.0 | 63.0 | -72.0 | 70.7 | 67.8 | 0.0 | ||
| Adjustments | Average | -22.0 | 3.2 | -242.6 | -54.2 | -37.0 | -50.0 | ||
| Adjustments | Consensus (Median) | -222.0 | -283.0 | -25.0 | -2.0 | -231.5 | -72.0 | -28.0 | 0.0 |
| Adjustments | Lowest | -50.0 | -25.0 | -620.0 | -175.0 | -150.0 | -150.0 | ||
| EBIT (reported) | Number of Estimates | 5 | 5 | 9 | 8 | 8 | 3 | ||
| EBIT (reported) | Highest | 367.9 | 260.9 | 1,144.0 | 1,137.0 | 1,212.0 | 1,273.3 | ||
| EBIT (reported) | Average | 355.6 | 190.6 | 957.9 | 983.8 | 1,061.4 | 1,169.1 | ||
| EBIT (reported) | Consensus (Median) | -25.0 | 578.0 | 355.7 | 188.6 | 949.7 | 1,018.2 | 1,057.6 | 1,146.5 |
| EBIT (reported) | Lowest | 344.1 | 133.4 | 534.0 | 794.0 | 900.6 | 1,087.5 | ||
| Net income attributable to shareholders (reported) | Number of Estimates | 4 | 4 | 8 | 8 | 8 | 3 | ||
| Net income attributable to shareholders (reported) | Highest | 229.5 | 160.2 | 703.5 | 672.2 | 768.0 | 748.7 | ||
| Net income attributable to shareholders (reported) | Average | 206.3 | 112.8 | 559.4 | 575.5 | 625.2 | 695.2 | ||
| Net income attributable to shareholders (reported) | Consensus (Median) | -106.0 | 265.0 | 209.9 | 110.4 | 565.7 | 598.1 | 635.4 | 705.4 |
| Net income attributable to shareholders (reported) | Lowest | 175.9 | 70.5 | 268.0 | 430.6 | 475.8 | 631.5 | ||
| EPS (in Euro) (reported) | Number of Estimates | 4 | 4 | 8 | 8 | 8 | 3 | ||
| EPS (in Euro) (reported) | Highest | 0.49 | 0.34 | 1.51 | 1.44 | 1.65 | 1.61 | ||
| EPS (in Euro) (reported) | Average | 0.44 | 0.24 | 1.20 | 1.23 | 1.34 | 1.49 | ||
| EPS (in Euro) (reported) | Consensus (Median) | -0.23 | 0.57 | 0.45 | 0.24 | 1.21 | 1.28 | 1.36 | 1.51 |
| EPS (in Euro) (reported) | Lowest | 0.38 | 0.15 | 0.57 | 0.92 | 1.02 | 1.36 | ||
| Dividend per share (in Euro) | Number of Estimates | - | - | 8 | 8 | 8 | 3 | ||
| Dividend per share (in Euro) | Highest | - | - | 1.10 | 1.10 | 1.10 | 0.94 | ||
| Dividend per share (in Euro) | Average | - | - | 0.79 | 0.77 | 0.80 | 0.85 | ||
| Dividend per share (in Euro) | Consensus (Median) | - | 1.00 | - | - | 0.76 | 0.75 | 0.77 | 0.87 |
| Dividend per share (in Euro) | Lowest | - | - | 0.60 | 0.61 | 0.59 | 0.75 | ||
| Capex | Number of Estimates | - | - | 8 | 8 | 8 | 3 | ||
| Capex | Highest | - | - | -679.4 | -750.0 | -750.0 | -800.0 | ||
| Capex | Average | - | - | -745.7 | -774.8 | -793.0 | -808.9 | ||
| Capex | Consensus (Median) | -181.0 | -748.0 | - | - | -750.0 | -770.0 | -785.7 | -804.4 |
| Capex | Lowest | - | - | -780.0 | -807.6 | -850.0 | -822.2 | ||
| Free Cash Flow | Number of Estimates | - | - | 8 | 8 | 8 | 3 | ||
| Free Cash Flow | Highest | - | - | 971.2 | 1,059.2 | 1,004.1 | 1,077.0 | ||
| Free Cash Flow | Average | - | - | 844.3 | 844.0 | 813.5 | 967.9 | ||
| Free Cash Flow | Consensus (Median) | 300.0 | 695.0 | - | - | 830.8 | 877.2 | 852.0 | 925.1 |
| Free Cash Flow | Lowest | - | - | 761.0 | 652.5 | 506.8 | 901.6 | ||
| ROCE (%) | Number of Estimates | - | - | 7 | 7 | 7 | 2 | ||
| ROCE (%) | Highest | - | - | 8.8 | 8.1 | 9.5 | 9.1 | ||
| ROCE (%) | Average | - | - | 8.2 | 7.0 | 7.4 | 8.2 | ||
| ROCE (%) | Consensus (Median) | - | 6.1 | - | - | 8.2 | 7.0 | 7.0 | 8.2 |
| ROCE (%) | Lowest | - | - | 7.6 | 5.2 | 5.8 | 7.2 | ||
| Net financial debt (-cash) | Number of Estimates | - | - | 8 | 8 | 8 | 3 | ||
| Net financial debt (-cash) | Highest | - | - | 3,530.0 | 3,328.0 | 3,312.1 | 1,955.8 | ||
| Net financial debt (-cash) | Average | - | - | 3,106.0 | 2,783.0 | 2,481.7 | 1,638.7 | ||
| Net financial debt (-cash) | Consensus (Median) | 3,677.0 | 3,311.0 | - | - | 3,118.0 | 2,761.3 | 2,362.0 | 1,612.2 |
| Net financial debt (-cash) | Lowest | - | - | 2,687.0 | 2,280.0 | 1,826.1 | 1,348.2 | ||
| Custom Solutions; Sales | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Custom Solutions; Sales | Highest | 1,435.5 | 1,426.5 | 5,611.9 | 5,851.0 | 6,131.0 | 5,963.2 | ||
| Custom Solutions; Sales | Average | 1,403.4 | 1,387.0 | 5,565.2 | 5,631.7 | 5,823.9 | 5,904.8 | ||
| Custom Solutions; Sales | Consensus (Median) | 1,340.0 | 5,492.0 | 1,411.0 | 1,398.8 | 5,564.7 | 5,675.0 | 5,801.7 | 5,936.9 |
| Custom Solutions; Sales | Lowest | 1,340.0 | 1,337.5 | 5,506.8 | 5,406.6 | 5,644.8 | 5,814.2 | ||
| Custom Solutions; Adjusted EBITDA | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Custom Solutions; Adjusted EBITDA | Highest | 284.4 | 239.4 | 1,021.4 | 1,048.1 | 1,109.0 | 1,152.7 | ||
| Custom Solutions; Adjusted EBITDA | Average | 252.5 | 203.8 | 950.2 | 992.8 | 1,051.3 | 1,104.4 | ||
| Custom Solutions; Adjusted EBITDA | Consensus (Median) | 215.0 | 909.0 | 248.0 | 189.9 | 929.2 | 993.6 | 1,050.7 | 1,087.3 |
| Custom Solutions; Adjusted EBITDA | Lowest | 230.0 | 177.3 | 915.4 | 943.5 | 985.4 | 1,073.4 | ||
| Advanced Technologies; Sales | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Advanced Technologies; Sales | Highest | 1,706.9 | 1,593.9 | 6,542.2 | 6,350.2 | 6,540.7 | 6,736.9 | ||
| Advanced Technologies; Sales | Average | 1,623.6 | 1,481.5 | 6,302.5 | 6,200.5 | 6,269.0 | 6,443.9 | ||
| Advanced Technologies; Sales | Consensus (Median) | 1,445.0 | 5,973.0 | 1,658.8 | 1,495.4 | 6,348.0 | 6,213.4 | 6,243.4 | 6,327.0 |
| Advanced Technologies; Sales | Lowest | 1,445.0 | 1,268.2 | 6,022.0 | 5,908.1 | 6,085.3 | 6,267.9 | ||
| Advanced Technologies; Adjusted EBITDA | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Advanced Technologies; Adjusted EBITDA | Highest | 400.0 | 301.7 | 1,275.7 | 1,123.4 | 1,107.6 | 1,135.2 | ||
| Advanced Technologies; Adjusted EBITDA | Average | 353.8 | 248.8 | 1,172.1 | 1,020.0 | 1,023.4 | 1,087.7 | ||
| Advanced Technologies; Adjusted EBITDA | Consensus (Median) | 202.0 | 944.0 | 353.7 | 257.7 | 1,145.0 | 1,009.0 | 1,049.8 | 1,125.0 |
| Advanced Technologies; Adjusted EBITDA | Lowest | 317.9 | 161.9 | 1,053.9 | 930.1 | 870.7 | 1,002.9 | ||
| Infrastructure / Other incl. C4; Sales | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Infrastructure / Other incl. C4; Sales | Highest | 959.8 | 959.8 | 3,386.5 | 3,013.0 | 3,000.0 | 2,708.0 | ||
| Infrastructure / Other incl. C4; Sales | Average | 727.4 | 619.8 | 2,857.4 | 2,697.1 | 2,694.4 | 2,532.7 | ||
| Infrastructure / Other incl. C4; Sales | Consensus (Median) | 606.0 | 2,604.0 | 686.2 | 601.6 | 2,807.7 | 2,656.3 | 2,708.6 | 2,514.9 |
| Infrastructure / Other incl. C4; Sales | Lowest | 630.2 | 428.6 | 2,525.9 | 2,306.8 | 2,295.5 | 2,375.1 | ||
| Infrastructure / Other incl. C4; Adjusted EBITDA | Number of Estimates | 6 | 6 | 7 | 6 | 6 | 3 | ||
| Infrastructure / Other incl. C4; Adjusted EBITDA | Highest | 41.8 | 18.9 | 73.1 | 76.8 | 79.0 | 75.4 | ||
| Infrastructure / Other incl. C4; Adjusted EBITDA | Average | 25.2 | -1.5 | 58.9 | 15.6 | 28.3 | 57.3 | ||
| Infrastructure / Other incl. C4; Adjusted EBITDA | Consensus (Median) | 31.0 | 21.0 | 23.4 | 2.4 | 56.1 | 28.6 | 43.0 | 58.3 |
| Infrastructure / Other incl. C4; Adjusted EBITDA | Lowest | 10.0 | -20.7 | 47.3 | -130.3 | -91.0 | 38.0 |
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
