Umicore S.A. (UMI) Fair Value & Analysis
Industrials · BE · Market cap €5.4B · ISIN BE0974320526
What is Umicore S.A. really worth?
A solid business, trading 16% below our fair value of €27.16.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 26 valuation models · updated 6 days ago
Share price −1.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range €7.03 – €51.01 · fair‑value band €19.23 – €33.95 · the €22.92 price screens below the €27.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Umicore S.A. (UMI) currently trades at €22.92, while our model-based Fair Value estimate is €27.16, implying the stock looks roughly 15.6% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of €27.16 per share, and 17 of the 26 models we run sit above the €22.92 price. Bear case: the Dividend Discount group reads lowest at €3.67, and 9 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Umicore S.A. generated revenue of €19.4B at a net margin of 2.0%. Revenue grew 44.1% year over year. It earns a return on equity of 18.6%. Net debt stands at €1.3B. Fundamentals as of Aug 30, 2026
Our scenario range runs from €19.23 (bear case) to €33.95 (bull case); at €22.92, 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 15% below its 52-week high and 102% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 19%, UMI 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 €0.7376 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.
All 26 models by family
Widest divergence: Multiples (€27.16) versus Dividend Discount (€3.67). Highest evidence: FCF DCF (79).
Notify me when UMI reaches fair value
Put UMI on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 73
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
Umicore SA operates as a materials technology and recycling company in Belgium, Europe, the Asia-Pacific, North America, South America, and Africa. It operates through Battery Material, Catalysis, Recycling, and Specialty Materials segments.
Full company description
Umicore SA operates as a materials technology and recycling company in Belgium, Europe, the Asia-Pacific, North America, South America, and Africa. It operates through Battery Material, Catalysis, Recycling, and Specialty Materials segments. The Battery Material segment develops, manufactures, and markets cathode materials and its precursors for lithium-ion batteries, as well as related refining activities of cobalt and nickel chemical refining activities; and offers integrated, circular and sustainable battery materials. Its Catalysis segment provides automotive catalysts for light-duty gasoline and diesel light, and heavy-duty diesel applications, including on-road and off-road vehicles; stationary catalysts for industrial emissions control; and produces precious metals-based compounds and catalysts for use in the pharmaceutical and fine chemicals industries, as well as fuel cell applications. The Recyling segment is involved in precious metals refining and management, jewelry and industrial metals; and treating complex waste streams containing precious and other specialty metals. This segment also produces precious metals-based materials for high-tech glass production and electronics; and offers products for chemical, electric, electronic, automotive and special glass applications. Its Specialty Materials segments offers cobalt and specialty materials, electro-optic materials, and metal deposition solutions; produces and distributes cobalt and nickel products; and supplies products for precious and non-precious metal-based electroplating and PVD coating, as well as germanium-based material solutions for the space, optics and electronics sectors. The company was formerly known as Union Minière du Haut Katanga and changed its name to Umicore SA in 2001. Umicore SA was founded in 1805 and is headquartered in Brussels, Belgium.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Umicore S.A. reported revenue of €19.4B in FY2025 versus €24.1B in FY2021, a compound −5.3%/yr. Reported net income was €385M in FY2025, compounding −11.2%/yr from FY2021.
of which total revenue +7.7 % · buybacks/dilution −1.1 %
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).
Watch UMI: get an alert when its fair value changes →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Global High-Nickel NMC (811, 9.5.5) Cathode Market Report 2026-2035 Featuring EcoPro BM Co., POSCO Future M, Umicore, LG Chem, Ningbo Ronbay
- Global $15.5 Billion Black Mass Recycling Market Outlook 2026-2035, Featuring Profiles of Umicore, Glencore, Redwood Materials, Ascend Eleme
- Umicore - Transparency notification by BNP Paribas Asset Management Holding and BNP Paribas Cardif
- Umicore - Transparency notification by Bank of America Corporation
Peer Group
Waste Management · 165 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.
Valuation Multiples vs Waste Management median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Waste Management, Inc WM | $217.76 | $128.02 | −41% |
| Republic Services, Inc RSG | $220.92 | $120.63 | −45% |
| Waste Connections, Inc WCN | C$230.52 | C$78.67 | −66% |
| Veolia Environnement SA VIE | €32.60 | €23.26 | −29% |
| Clean Harbors, Inc CLH | $311.81 | $154.01 | −51% |
| GFL Environmental Inc GFL | C$57.62 | C$44.27 | −23% |
| Fomento de Construcciones y Contratas, S.A FCC | €11.30 | €7.30 | −35% |
| GEM Co 002340 | ¥6.67 | ¥5.27 | −21% |
| Zhejiang Weiming Environment Protection Co 603568 | ¥14.86 | ¥20.95 | +41% |
| Cleanaway Waste Management Limited CWY | A$2.60 | A$1.18 | −55% |
Compare Umicore S.A. with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Industrials stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Umicore S.A. (UMI) overvalued or undervalued?
What is the fair value of UMI?
What is the quality score of UMI?
What is the revenue of Umicore S.A. (UMI)?
What is the net profit margin of UMI?
Does Umicore S.A. pay a dividend?
Watch Umicore S.A. in the live analysis
One click puts Umicore S.A. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.