Syensqo NV SYNSY

MaterialsChemicalsBelgium

Last close 8.65 USD on Nov 2, 2026, −4.6% year to date

Quant rating

Quant rating B Rank 87 of 220 in Materials

Growth C 136 of 220
Valuation C 96 of 220
Quality B 74 of 220
Revisions B 84 of 220
Momentum C 126 of 220

Wall Street consensus Buy (2.47)Average target 89.56 USD +935.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 8.9B
Enterprise value: 11.2B
52-week range: 8.50 – 9.55
3-year range: 8.50 – 9.55
Dividend yield: 2.22%
Beta (5 years): –
Shares outstanding: 103M
Next earnings: Nov 5, 2026

About the company

Syensqo NV is a Belgium-based, Chemical company. The Company provides chemical solutions such as specialty polymers, composite materials, specialty formulations and bio-circular chemistries to assist its customers in identifying, developing, and manufacturing of sustainable solutions. The Company’s activities are organized into two divisions: Materials which consists of performance in polymers platform coupled with a composites business mainly serving automotive, aerospace, and electronics markets; Consumer and Resources providing specialty solutions to consumer focused on end markets such as Argo, Personal Care, Food, and others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	7,011	6,673	7,797	8,693	6,857	–
Revenue growth	5.1%	−14.4%	−10.3%	26.8%	4.3%	1.3%
EPS (basic, normalized)	4.39	5.49	7.72	–	–	–
EPS growth	−20.1%	−28.9%	–	–	–	–
Gross margin	30.9%	33.5%	33.6%	32.1%	31.2%	32.3%
Net margin	−1.5%	0.6%	2.7%	11.7%	7.4%	4.2%
ROE	−1.3%	0.5%	3.1%	20.6%	12.0%	7.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	801
Current ratio	1.65x
Long-term debt (mil)	2,727
Net debt (mil)	2,425
Total equity (mil)	6,950
Net debt / equity	0.35x
Net debt / EBITDA	1.70x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	7,011	+5.1%	1.6x	1,427	−3.8%	7.9x	4.39	−20.1%	2.0x
2026	6,667	−4.9%	1.7x	1,256	−12.0%	9.0x	4.02	−8.4%	2.2x
2027	6,957	+4.3%	1.6x	1,375	+9.5%	8.2x	4.86	+20.9%	1.8x
2028	7,203	+3.5%	1.6x	1,462	+6.3%	7.7x	5.44	+11.8%	1.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,667	+0.2%	+1.5%	+2.0%	4.02	+0.5%	+1.8%	+2.4%
2027	6,957	+0.2%	+1.6%	+2.1%	4.86	−0.2%	+3.1%	+2.7%
2028	7,203	+0.3%	+1.2%	+2.3%	5.44	−0.2%	+3.6%	+7.4%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,624	1,708	1,633	1,598	1,619	1,586	1,517	1,418	1,399	1,554
Sales mean (mil)	1,646	1,726	1,662	1,572	1,607	1,614	1,540	1,501	1,356	1,492
Surprise	−1.4%	−1.0%	−1.8%	+1.6%	+0.7%	−1.8%	−1.5%	−5.6%	+3.2%	+4.2%
EPS reported	1.48	1.51	1.55	0.73	0.96	0.49	1.07	0.30	0.66	1.03
EPS mean	1.16	1.67	1.63	1.16	0.98	1.16	1.22	0.79	0.62	0.94
Surprise	+27.6%	−9.8%	−4.7%	−36.8%	−1.9%	−57.8%	−12.6%	−61.8%	+7.2%	+9.3%

Peer comparison Chemicals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SYNSY Syensqo NV	8.9B	1.70x	−1.5%	1.29x	2.2x	1.8x	9.0x	8.2x
GNENY Ganfeng Lithium Group Co., Ltd	10.0B	11.07x	7.0%	1.55x	6.4x	6.5x	9.5x	10.0x
SOLS Solstice Advanced Materials Inc	9.4B	1.68x	6.1%	5.90x	20.3x	17.2x	10.6x	9.6x
WLK Westlake Corp	9.1B	3.27x	−13.4%	1.04x	37.4x	29.8x	7.4x	7.2x
ESI Element Solutions Inc	8.3B	3.42x	7.5%	2.88x	18.4x	15.8x	14.2x	12.6x
CTVA Corteva, Inc.	8.0B	0.72x	6.9%	0.32x	7.3x	6.7x	5.9x	6.5x
Mean		3.64x	2.1%	2.16x	15.3x	13.0x	9.4x	9.0x
Median		2.48x	6.5%	1.42x	12.8x	11.2x	9.2x	8.9x

Technical analysis

1M−8.8%
3M−4.6%
1Y−4.6%
3Y−4.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Syensqo NV, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	7,011	6,673	7,797	8,693	6,857	6,572
Cost of revenue	4,842	4,434	5,176	5,906	4,715	4,667
Gross profit	2,168	2,238	2,621	2,787	2,142	1,905
Selling, general & administrative expenses	974	946	859	856	756	789
Research & development	250	255	281	240	221	214
Depreciation/amortization	304	290	147	302	314	359
Interest expense (income), operating	−20.0	−16.6	−21.0	−6.4	−21.6	−4.9
Unusual expense (income)	392	236	642	247	206	1,707
Other operating expenses	38.8	0	109	−26.8	2.3	−22.0
Operating income	229	528	604	1,175	665	−1,137
Net interest income (expense)	−1.2	3.1	87.2	10.7	3.4	6.1
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−179	−125	−262	−152	−130	−233
Net income before taxes	49.3	406	429	1,034	539	−1,364
Provision for taxes	149	364	212	2.1	25.0	202
Minority interest	−2.3	0	−3.3	−15.0	−10.2	−3.7
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−102	41.4	214	1,017	504	−1,569
Extraordinary items	29.4	−47.6	–	–	–	–
Net income	−72.8	−6.2	214	1,017	504	−1,569
EBIT, normalized	601	747	1,225	1,416	849	565
EBITDA, normalized	1,358	1,437	1,909	2,080	1,512	1,350
Basic EPS, normalized	4.39	5.49	7.72	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Syensqo NV, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,118	766	1,350	318	235	326
Receivables	1,247	1,306	1,407	3,204	2,977	2,537
Total inventory	1,270	1,318	1,373	1,490	1,304	975
Prepaid expenses	14.1	21.7	48.6	43.9	44.3	19.5
Other current assets	0	−1.0	0	−1.1	0	145
Total current assets	3,649	3,410	4,178	5,055	4,561	4,002
Property, plant & equipment	4,189	4,055	4,063	3,583	3,545	3,567
Goodwill	2,900	2,753	2,825	2,859	2,930	3,009
Intangibles	1,620	1,697	1,831	1,945	2,126	2,323
Long-term investments	314	349	386	331	405	310
Note receivable	195	142	216	153	429	283
Other long-term assets	645	404	729	666	415	392
Total assets	13,511	12,810	14,230	14,590	14,409	13,887
Liabilities
Accounts payable	958	1,036	1,013	1,040	961	684
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	51.8	0	0	0	0
Current portion of long-term debt	114	251	169	4,308	4,195	4,516
Other current liabilities	719	658	853	794	698	681
Total current liabilities	1,791	1,997	2,035	6,142	5,853	5,882
Long-term debt	3,360	1,886	2,383	1,982	2,374	2,501
Minority interest	44.6	51.8	46.4	25.7	20.5	15.9
Other liabilities	1,206	1,180	1,416	1,173	1,256	1,745
Total liabilities	6,402	5,115	5,880	9,323	9,504	10,144
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,588	1,400	1,492	5,353	5,079	4,678
Additional paid-in capital	1,200	1,058	1,128	–	–	–
Retained earnings (accumulated deficit)	5,281	5,020	5,605	–	–	–
Treasury stock	−182	−134	−65.1	–	–	–
Other equity	−778	350	190	−85.6	−174	−934
Total equity	7,109	7,694	8,350	5,268	4,905	3,743
Total liabilities & shareholders' equity	13,511	12,810	14,230	14,590	14,409	13,887

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Syensqo NV, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−70.5	−5.2	217	1,032	515	−1,566
Depreciation, depletion & amortization	815	758	816	666	667	2,346
Deferred taxes	–	–	–	–	–	–
Non-cash items	255	412	566	205	4.5	380
Changes in working capital	−99.8	−294	−192	−473	−418	173
Cash from operations	900	871	1,407	1,430	768	1,334
Investing activities
Capital expenditures	−630	−646	−938	−632	−457	−387
Other investing cash flows	8.2	12.4	−420	−56.7	−243	−37.9
Cash from investing	−621	−634	−1,359	−689	−700	−425
Financing activities
Financing cash flow items	−133	−108	3,122	−325	375	554
Cash dividends paid	−195	−176	−481	−254	−308	−413
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	361	−465	−1,659	−37.5	−214	−999
Cash from financing	32.9	−749	982	−616	−147	−857
Foreign exchange effects	−74.0	2.1	−30.9	−10.7	5.7	−34.2
Net change in cash	237	−509	1,000	113	−72.8	17.1
Free cash flow	270	225	469	797	311	947

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.