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Akzo Nobel NV (AKZA) Fair Value & Analysis

Basic Materials · NL · Market cap €9.8B · ISIN NL0013267909

What is Akzo Nobel NV really worth?

AN Akzo Nobel NV AKZA · AS
Price€60.74
Fair Value€41.45
Upside−31.8%
Quality57/100

A solid business, but trading 47% above our fair value of €41.45.

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Strengths

Moderate debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y +3.6 %/yr)
!Thin margins · 6.3% net margin
!Moderate moat 45/100

For context

·3.26% dividend yield
Evidence: High Range €25.59 – €65.13

Fair value as of: Aug 23, 2026

From 24 valuation models · updated 13 days ago

Share price −3.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€25.59 to €65.13) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€92.28 €45.91 Fair Value €41.45 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range €45.91 – €92.28 · fair‑value band €25.59 – €65.13 · the €60.74 price screens above the €41.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

Full chart & analysis →

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Analysis

Akzo Nobel NV (AKZA) currently trades at €60.74, while our model-based Fair Value estimate is €41.45, implying the stock looks roughly 46.5% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of €56.40 per share, and 3 of the 24 models we run sit above the €60.74 price. Bear case: the Earnings-Based group reads lowest at €16.68, and 21 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Akzo Nobel NV generated revenue of €9.9B at a net margin of 6.3%. Revenue declined 8.7% year over year. It earns a return on equity of 13.2%. Net debt stands at €3.2B. Fundamentals as of Aug 23, 2026

Our scenario range runs from €25.59 (bear case) to €65.13 (bull case); at €60.74, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −32%, AKZA screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €1.11 per share, which is 2.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €21.91 €33.90 €55.40 79
Growth DCF €23.30 €34.85 €53.97 78
Owner Earnings €27.21 €41.13 €66.12 75
All 24 models by family
DCF Models
FCF DCF €21.91 €33.90 €55.40 79
Owner Earnings €27.21 €41.13 €66.12 75
5Y Revenue Exit €24.89 €42.34 €67.73 71
5Y EBITDA Exit €28.17 €48.02 €74.32 74
5Y P/E Exit €26.54 €45.20 €67.49 70
10Y Revenue Exit €22.40 €35.07 €48.74 67
10Y EBITDA Exit €25.38 €38.50 €52.52 68
10Y P/E Exit €24.41 €36.79 €48.60 64
Earnings-Based
Graham-Dodd €25.21 €30.81 €34.66 67
EPV €12.93 €16.68 €19.92 74
Dividend Discount
Gordon GGM €17.38 €18.94 €21.30 69
DDM Multi-Stage €17.38 €21.48 €27.07 67
Multiples
P/E Multiple €47.26 €63.02 €78.77 63
P/S Multiple €47.26 €63.02 €78.77 58
P/B Multiple €47.26 €63.02 €78.77 55
EV/EBIT €36.60 €52.41 €68.23 65
EV/EBITDA €39.59 €56.40 €73.22 67
EV/Revenue €30.27 €47.89 €65.51 53
Asset-Based
NCAV (Graham) €13.60 €18.22 €27.20 54
Growth DCF
Growth DCF €23.30 €34.85 €53.97 78
Rev-Margin DCF €24.89 €43.13 €65.40 71
Economic Profit
Residual Income €25.91 €31.22 €60.00 72
ROIC Compounder €12.93 €16.68 €19.92 72
Growth Earnings
Growth-Adj P/E €33.67 €48.10 €62.53 67

Widest divergence: Multiples (€56.40) versus Earnings-Based (€16.68). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 16.8
P/S ratio 1.05 P/E × margin
EPS (TTM) €3.62 price ÷ EPS = P/E 16.8
Dividend yield 3.3% payout 54.7%
Net margin 6.3% FY2025
Return on equity 13.2% TTM
More key figures
Profitability
Return on assets (EBIT) 6.4% avg 5y
Operating margin 7.8% TTM
Growth
Revenue (TTM) €9.9B TTM
Revenue growth (YoY) −8.7% 3y avg −2.2%
EPS growth (YoY) −12.9%
Balance sheet & cash flow
Free cash flow €606M FY2025
Net debt €3.2B FY2025 · ≈ 5.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 53

Profitability 46
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Akzo Nobel N.V. produces and sells paints and coatings worldwide. It operates through Decorative Paints and Performance Coatings segments. The company offers decorative paints, including paints, enamels, varnishes, and surface preparation products; and a range of mixing machines, color concepts and advice, and training for applicators.

Full company description

Akzo Nobel N.V. produces and sells paints and coatings worldwide. It operates through Decorative Paints and Performance Coatings segments. The company offers decorative paints, including paints, enamels, varnishes, and surface preparation products; and a range of mixing machines, color concepts and advice, and training for applicators. It also provides performance coatings that produces engineered coatings designed to deliver functional properties, such as corrosion and fouling control, anti-scratch performance, and fire protection to protect and enhance ships, cars, aircraft, yachts, and architectural components, consumer goods, and oil and gas facilities. The company offers its products under the AkzoNobel, Alabastine, Alba, Andercol, Apla, Armstead Trade, Astral, Astral Batiment, AwlGrip, Brikol, Bruguer, Cetabever, Cetol, Chemcraft, Colourland Paints, CONSOLAN, Coral, Cromadex, Cuprinol, Dulux, Dynacoat, Flexa, Glitsa, Grip-Gard, Hammerite, Herbol, Inca, Innenweis, Interlux, International, Interpon, Lesonal, Levis, Luxol, Mactra, Marshall, Mauvilac, Maxilite, Modern Classikk, Molto, Nordsjo, Oxirite, Pintuco, Pinotex, Polycell, Polyfilla, Procolor, Protecto, Relest, Resicoat, Sadolin, Salcomix, Savana, Sea Hawk, Sikkens, Sparlack, Taubmans, Titanlux, Trimetal, U-Tech, Vivechrom, VPowdertech, Wanda, Xyladecor, and Xylazel brands. The company serves energy, packaging, infrastructure, and shipbuilding and maintenance industries, as well as general industries, such as agricultural and construction equipment, construction-related steel, metal fabrication, pipes, appliances, and transportation. The company was formerly known as Akzo NV and changed its name to Akzo Nobel N.V. in 1994. Akzo Nobel N.V. was founded in 1646 and is headquartered in Amsterdam, the Netherlands.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Akzo Nobel NV reported revenue of €10.2B in FY2025 versus €9.6B in FY2021, a compound +1.5%/yr. Reported net income was €635M in FY2025, compounding −6.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€10.2B
Latest YoY
−5.2%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.2%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Avg. revenue growth/yr (36Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+1.2% (−2.1 + 3.3)
Revenue +1.5%/yr
FY21 €9.6B
FY22 €10.8B
FY23 €10.7B
FY24 €10.7B
FY25 €10.2B
Net income −6.4%/yr
FY21 €829M
FY22 €352M
FY23 €442M
FY24 €542M
FY25 €635M
Character of growth · EPS growth decomposed (2014-2025) −2.0 % p.a.
Revenue per share −0.7 %

of which total revenue −3.5 % · buybacks/dilution +2.9 %

EBIT margin −1.0 %
Tax rate −0.8 %
Residual (interest, one-offs) +0.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

AKZA screens 47% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Akzo Nobel NV Fair Value". https://www.fairvalue-calculator.com/stock/AKZA

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Chemicals · 695 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −32% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth −9% · Bottom 25%
Dividend yield (TTM) 3.3% · Top 25%
Debt / equity 0.75× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 16.8× · Cheaper than median
P/B 2.45× · Pricier than median
P/S (TTM) 1.15× · Cheaper than median
P/FCF 18.8× · Pricier than 75% of peers
EV/EBITDA 12.4× · Pricier than median
PEG 2.39× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 20
PAST53 · sector 23
HEALTH63 · sector 95
DIVIDEND65 · sector 28

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $485.35 $222.03 −54%
The Sherwin-Williams Company SHW $344.86 $143.38 −58%
Ecolab Inc ECL $286.75 $96.18 −66%
Air Products and Chemicals, Inc APD $308.09 $122.14 −60%
Givaudan SA GIVN CHF 3,282 CHF 1,498 −54%
Wanhua Chemical Group 600309 ¥77.66 ¥68.03 −12%
500820 500820 ₹2,757 ₹557.43 −80%
Novozymes A/S NSISB kr 456.40 kr 169.99 −63%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
PPG Industries, Inc PPG $114.22 $71.31 −38%

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Frequently asked questions

Is Akzo Nobel NV (AKZA) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of €41.45 versus a price of €60.74, about −32% upside (overvalued).
What is the fair value of AKZA?
Our model-based fair value for Akzo Nobel NV is €41.45 (as of Aug 23, 2026), built from audited fundamentals. The current price: €60.74.
What is the quality score of AKZA?
Akzo Nobel NV has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Akzo Nobel NV (AKZA)?
Akzo Nobel NV reported trailing-twelve-month revenue of about €9.9B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of AKZA?
The net profit margin of Akzo Nobel NV is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Akzo Nobel NV pay a dividend?
Akzo Nobel NV currently shows a dividend yield of about 3.26% relative to its recent price (as of Aug 23, 2026).
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