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Givaudan SA (GIVN) Fair Value & Analysis

Basic Materials · CH · Market cap CHF 31.3B · ISIN CH0010645932

What is Givaudan SA really worth?

GS Givaudan SA GIVN · SW
PriceCHF 3,250
Fair ValueCHF 1,498
Upside−53.9%
Quality70/100

A solid business, but trading 117% above our fair value of CHF 1,498.

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Strengths

Healthy Growth (revenue 5y +3.4 %/yr)
Solidly profitable · 14.3% net margin
Moderate debt · generates free cash flow
Wide moat 66/100

Risks

!Mixed vs. peers (6/15)

For context

·2.22% dividend yield
Evidence: High Range CHF 1,024 – CHF 2,195

Fair value as of: Sep 1, 2026

From 25 valuation models · updated 4 days ago

Share price −4.5% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (CHF 2,195). The favourable scenario is already priced in.
  • A fairly wide model range (CHF 1,024 to CHF 2,195) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

CHF 4,463 CHF 2,507 Fair Value CHF 1,498 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range CHF 2,507 – CHF 4,463 · fair‑value band CHF 1,024 – CHF 2,195 · the CHF 3,250 price screens above the CHF 1,498 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.

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Analysis

Givaudan SA (GIVN) currently trades at CHF 3,250, while our model-based Fair Value estimate is CHF 1,498, implying the stock looks roughly 117.0% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of CHF 1,689 per share, and 0 of the 25 models we run sit above the CHF 3,250 price. Bear case: the Asset-Based group reads lowest at CHF 329.37, and 25 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Givaudan SA generated revenue of CHF 7.5B at a net margin of 14.3%. Revenue declined 1.8% year over year. It earns a return on equity of 23.4%. Net debt stands at CHF 3.7B. Fundamentals as of Sep 1, 2026

Our scenario range runs from CHF 1,024 (bear case) to CHF 2,195 (bull case); at CHF 3,250, the current price sits above 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 21% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −60% fair-value upside, at −54%, GIVN 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 CHF 29.46 per share, which is 2.0 % 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 CHF 1,092 CHF 1,786 CHF 2,803 79
Growth DCF CHF 1,127 CHF 1,760 CHF 2,641 78
Owner Earnings CHF 1,007 CHF 1,660 CHF 2,616 75
All 25 models by family
DCF Models
FCF DCF CHF 1,092 CHF 1,786 CHF 2,803 79
Owner Earnings CHF 1,007 CHF 1,660 CHF 2,616 75
5Y Revenue Exit CHF 689.58 CHF 1,160 CHF 1,736 72
5Y EBITDA Exit CHF 979.05 CHF 1,685 CHF 2,480 74
5Y P/E Exit CHF 1,012 CHF 1,744 CHF 2,484 70
10Y Revenue Exit CHF 800.14 CHF 1,254 CHF 1,818 66
10Y EBITDA Exit CHF 1,007 CHF 1,613 CHF 2,370 68
10Y P/E Exit CHF 1,028 CHF 1,653 CHF 2,373 63
Earnings-Based
Graham-Dodd CHF 789.10 CHF 2,083 CHF 2,721 65
PEG = 1.0 CHF 400.47 CHF 572.10 CHF 743.73 57
EPV CHF 847.40 CHF 1,045 CHF 1,217 74
Dividend Discount
Gordon GGM CHF 641.69 CHF 1,317 CHF 2,117 66
DDM Multi-Stage CHF 641.69 CHF 991.39 CHF 1,366 66
Multiples
P/E Multiple CHF 1,480 CHF 1,973 CHF 2,466 63
P/S Multiple CHF 910.81 CHF 1,214 CHF 1,518 58
P/B Multiple CHF 1,106 CHF 1,475 CHF 1,843 55
EV/EBIT CHF 1,235 CHF 1,759 CHF 2,282 65
EV/EBITDA CHF 1,086 CHF 1,560 CHF 2,034 67
EV/Revenue CHF 513.87 CHF 878.19 CHF 1,243 52
Asset-Based
NCAV (Graham) CHF 245.80 CHF 329.37 CHF 491.59 54
Growth DCF
Growth DCF CHF 1,127 CHF 1,760 CHF 2,641 78
Rev-Margin DCF CHF 689.58 CHF 1,177 CHF 1,719 72
Economic Profit
Residual Income CHF 720.51 CHF 896.91 CHF 2,953 64
ROIC Compounder CHF 901.07 CHF 1,208 CHF 1,564 72
Growth Earnings
Growth-Adj P/E CHF 1,182 CHF 1,689 CHF 2,195 67

Widest divergence: Growth Earnings (CHF 1,689) versus Asset-Based (CHF 329.37). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 28.2
P/S ratio 4.04 P/E × margin
EPS (TTM) CHF 115.42 price ÷ EPS = P/E 28.2
Dividend yield 2.2% payout 62.4%
Net margin 14.3% FY2025
Return on equity 23.4% TTM
More key figures
Profitability
Return on assets (EBIT) 10.4% avg 5y
Operating margin 16.9% TTM
Growth
Revenue (TTM) CHF 7.5B TTM
Revenue growth (YoY) −1.8% 3y avg +1.6%
EPS growth (YoY) −4.7%
Balance sheet & cash flow
Free cash flow CHF 1.2B FY2025
Net debt CHF 3.7B FY2025 · ≈ 3.0 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 66 · Market factors (momentum, volatility) 58

Profitability 59
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 81
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

Givaudan SA engages in the manufacture, supply, and sale of fragrance, beauty, taste, and wellbeing products to the consumer goods industry. It operates in two divisions, Fragrance & Beauty, and Taste & Wellbeing.

Full company description

Givaudan SA engages in the manufacture, supply, and sale of fragrance, beauty, taste, and wellbeing products to the consumer goods industry. It operates in two divisions, Fragrance & Beauty, and Taste & Wellbeing. The Fragrance & Beauty division offers fine fragrances; consumer products, such as personal, home, fabric, and oral care; fragrance ingredients; and active beauty products. The Taste & Wellbeing division provides beverages, such as fizzy drinks, bottled waters, ready-to-drink juices, and alcoholic drinks; dairy and cheese products, including dairy drinks, yoghurt, ice cream, chilled desserts, cream cheese, and spreads; snacks; givaudan flavour ingredients; savory, and supplements and nutraceutical products; and biscuits, crackers, and cereals, as well as confectionery products, such as chewing gums, chocolates, and sweets. It operates in Switzerland, Europe, Africa, the Middle East, North America, Latin America, and the Asia Pacific. Givaudan SA was founded in 1796 and is headquartered in Vernier, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Givaudan SA reported revenue of CHF 7.5B in FY2025 versus CHF 6.7B in FY2021, a compound +2.8%/yr. Reported net income was CHF 1.1B in FY2025, compounding +6.9%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 7.5B
Latest YoY
+0.8%
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.
+1.6%
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.
+3.4%
Avg. revenue growth/yr (23Y) 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.
+4.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+9.8% (7.6 + 2.2)
Revenue +2.8%/yr
FY21 CHF 6.7B
FY22 CHF 7.1B
FY23 CHF 6.9B
FY24 CHF 7.4B
FY25 CHF 7.5B
Net income +6.9%/yr
FY21 CHF 821M
FY22 CHF 856M
FY23 CHF 893M
FY24 CHF 1.1B
FY25 CHF 1.1B
Character of growth · EPS growth decomposed (2014-2025) +5.8 % p.a.
Revenue per share +5.6 %

of which total revenue +5.5 % · buybacks/dilution +0.1 %

EBIT margin +0.6 %
Tax rate +0.0 %
Residual (interest, one-offs) −0.3 %

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).

GIVN screens 117% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Givaudan SA Fair Value". https://www.fairvalue-calculator.com/stock/GIVN

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 70 · Top 25%
Fair Value upside −54% · Below median
Return on equity (TTM) 23% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth −2% · Below median
Dividend yield (TTM) 2.2% · Above median
Debt / equity 0.85× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 28.2× · Pricier than median
P/B 8.52× · Pricier than 75% of peers
P/S (TTM) 5.17× · Pricier than 75% of peers
P/FCF 32.0× · Pricier than 75% of peers
EV/EBITDA 25.8× · Pricier than 75% of peers
PEG 4.87× · 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
PAST94 · sector 23
HEALTH58 · sector 95
DIVIDEND44 · sector 28

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

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 Sep 1, 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%
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%
DSM-Firmenich AG DSFIR €90.68 €33.20 −63%

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Frequently asked questions

Is Givaudan SA (GIVN) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of CHF 1,498 versus a price of CHF 3,250, about −54% upside (overvalued).
What is the fair value of GIVN?
Our model-based fair value for Givaudan SA is CHF 1,498 (as of Sep 1, 2026), built from audited fundamentals. The current price: CHF 3,250.
What is the quality score of GIVN?
Givaudan SA has a Quality Score of 70/100. 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 Givaudan SA (GIVN)?
Givaudan SA reported trailing-twelve-month revenue of about CHF 7.5B (latest available figure, as of Sep 1, 2026).
What is the net profit margin of GIVN?
The net profit margin of Givaudan SA is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Givaudan SA pay a dividend?
Givaudan SA currently shows a dividend yield of about 2.22% relative to its recent price (as of Sep 1, 2026).
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