One-glance verdict
Within fair range
$17.64 our estimate vs market $21.95
Wall Street consensus: $27.00 (53.0% higher than our fair-value estimate)
24% above our estimate
Fundamentals snapshot
Akzo Nobel N.V.
AKZOY · OQX · Basic Materials · Specialty Chemicals
Current price
$21.95
52-week range
$18.04 - $25.99
Market cap
$11.29B
Balance sheet
Watch
5.52x Adequate
Net debt $3.46B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Returns 14.9% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 3/10 years.
- Risk Operating margin compressed from 6.5% to -1.3% over 3 years.
- Risk Insider ownership is only 0.0% (peer median: 0.4%).
What this company does
Akzo Nobel N.V.
Akzo Nobel sells paints and coatings for homes and industries, like ships and cars, across the globe. Their money mainly comes from selling these products through two big divisions, Decorative Paints for your home and Performance Coatings for tougher jobs. This matters because their sales figures show how well they are doing at selling these everyday and specialized paint products.
...
...
How the company got here
Akzo Nobel N.V. has a long and complex history, with roots tracing back to the 17th century. The modern company was formed in 1994 through the merger of Akzo N.V. of the Netherlands and Nobel Industries of Sweden. This union brought together companies with deep expertise in chemicals, paints, and coatings. Over the years, Akzo Nobel has strategically reshaped itself through acquisitions and divestments, including the significant purchase of Imperial Chemical Industries (ICI) in 2008. These moves have helped the company focus on its core strengths and maintain its position as a global leader in the paints and coatings industry.
What it actually does
At its heart, Akzo Nobel is a global producer of paints and coatings. These products are designed to protect and beautify surfaces for both everyday consumers and industrial clients. Think of the paint on your house walls, the protective coating on your car, or the specialized finishes on ships and airplanes – Akzo Nobel makes many of these. The company operates worldwide, serving a vast array of industries that rely on its products for durability, aesthetics, and specific functional properties.
Decorative Paints
This segment focuses on paints and coatings for consumers and professional painters, primarily for homes and buildings. It includes everything from interior and exterior wall paints to varnishes and products used to prepare surfaces before painting. Brands like Dulux and Sikkens are part of this business, making homes and structures more colorful and protected. This is a significant part of Akzo Nobel's business, contributing a substantial portion of its overall revenue.
Performance Coatings
The Performance Coatings segment provides specialized coatings designed for demanding industrial applications. These coatings offer crucial protective properties, such as resistance to corrosion, extreme temperatures, or harsh weather. They are used on everything from cars, airplanes, and yachts to industrial equipment, infrastructure like bridges, and consumer goods like appliances. This business unit is vital for industries where durability and specific functional performance are paramount.
What management is betting on now
Akzo Nobel's current strategy centers on sustainable innovation and growth in key markets. Management is focused on developing more environmentally friendly products and solutions, aligning with global sustainability goals and reducing the company's carbon footprint. They are also investing in operational efficiency, aiming to streamline processes and improve productivity across their manufacturing sites. This focus on sustainability and efficiency is intended to drive long-term value creation and maintain their competitive edge in the global paints and coatings market.
Price history
How the share price has moved
—
Loading price history…
Is it cheap or expensive?
Fair value $17.64 vs current price $21.95
Wall Street consensus is the average analyst price target: $27.00 (53.0% higher than our fair-value estimate).
Our most-likely fair value is $17.64 a share — about 19.6% away from today's price of $21.95, so the stock currently looks fairly priced.
Is it drowning in debt?
Watch
Net debt $3.5B. Interest coverage 5.5x.
Net debt
$3.46B
Interest coverage
5.52x
Akzo Nobel N.V.'s profit covers its interest bill about 5.5 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
AKZOY
BASELINE
Akzo Nobel N.V.
Total debt $7.27B Interest coverage 5.52x This is the baseline the peer rows are being compared against.
Total debt $7.47B Interest coverage 9.00x +63% vs AKZOY Carries about 1.6x more debt cushion than AKZOY.
Total debt $15.03B Interest coverage 8.16x +48% vs AKZOY Carries about 1.5x more debt cushion than AKZOY.
Total debt $2.74B Interest coverage 8.66x +57% vs AKZOY Carries about 1.6x more debt cushion than AKZOY.
Total debt $3.07B Interest coverage 4.18x -24% vs AKZOY Carries about 1.3x less debt cushion than AKZOY.
What you should know
The case for and against AKZOY
3 Rewards
2 Risks
Rewards
-
Returns 14.9% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 3/10 years.
-
Trades at 14.9x P/E vs peer median 20.9x (28.6% cheaper).
Risks
-
Operating margin compressed from 6.5% to -1.3% over 3 years.
-
Insider ownership is only 0.0% (peer median: 0.4%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
14.93x
Forward P/E
12.59x
P/B
2.07x
P/S
1.14x
EV/EBITDA
14.07x
PEG ratio
2.23x
Profitability
How much profit each dollar creates
Gross margin
40.3%
Operating margin
-1.3%
Net margin
6.6%
ROE
14.9%
ROA
3.1%
Health
Liquidity and balance-sheet strength
Debt / equity
1.30x
Current ratio
1.93x
Quick ratio
1.43x
Total debt
$7.27B
Total cash
$3.82B
Growth
How the business has been compounding
Revenue TTM
$11.06B
Revenue 5Y CAGR
-2.2%
EPS TTM
1.47
EPS 5Y CAGR
22.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.02B
Free CF TTM
$677.85M
FCF margin
6.1%
Dividend
Shareholder payout
Yield
3.5%
Payout ratio
53.2%
Last ex-div date
2026-11-02