Loading…
Swiss specialty chemicals company making catalysts, additives and care-chemical ingredients for industrial and consumer customers.
Swiss specialty chemicals company making catalysts, additives and care-chemical ingredients for industrial and consumer customers.
Sells specialty chemicals on repeat orders: catalysts that wear out and are replaced in refineries and chemical plants, and ingredients that consumer-goods makers specify into their formulas. It has sold off non-core businesses, including masterbatches and pigments, to focus on three units: care chemicals, catalysts, and adsorbents and additives.
In one line: A specialty chemicals maker like a smaller Ecolab/Albemarle hybrid.
Moat: narrow (process know-how, IP / patents, customer qualification). Specialized catalyst and formulation know-how creates embedded, hard-to-switch customer relationships in niche chemistries.
Headquarters: Muttenz, Switzerland · Founded: 1995 · Employees: 10,281
Size Clariant (CLN.SW) is a Switzerland Materials company (Chemicals: Specialty) with a market value of $4.32B, the 62nd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 10.70 on 6 Nov 2026.
Performance Over six months the shares gained 46.2%, against -21.5% for the median peer and +11.6% for the Switzerland market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue fell 6.6% over the last twelve months (peer median +12.9%); the operating margin is 9.9% (peer median 10.6%).
Valuation It trades at 16.0× forward earnings against a peer median of 21.9× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.9 points above its cost of capital (5.0% WACC).
Credit Clariant has 6 bonds outstanding ($1.46B), rated BBB- by the agencies and trading like BB+ at a weighted spread of 147 bp.
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 3.79B | CHF 3.92B | CHF 4.15B | CHF 4.38B | CHF 5.20B |
| Revenue growth | — | -6% | -5% | -16% | — |
| Gross profit | CHF 1.18B | CHF 1.22B | CHF 1.29B | CHF 1.20B | CHF 1.49B |
| EBITDA | CHF 623M | CHF 650M | CHF 676M | CHF 719M | CHF 896M |
| Net income | -CHF 30.7M | -CHF 75.0M | CHF 244M | CHF 134M | CHF 84.0M |
| Free cash flow | CHF 302M | CHF 234M | CHF 184M | CHF 219M | CHF 264M |
| Capital expenditure | CHF 130M | CHF 146M | CHF 209M | CHF 207M | CHF 212M |
| Total debt | n/a | CHF 2.03B | CHF 1.88B | CHF 1.35B | CHF 1.46B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Clariant CLN.SW | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
| Ecolab ECL | $84.3B | +19% | +9% | 18% | 33.6× | 19.7% |
| Croda International CRDA.L | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% |
| Evonik Industries EVK.DE | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CLN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.8% | -5.7% | 5th highest of 21 |
| 6-month return | +46.2% | -21.5% | highest of 20 |
| Distance from 52-week high | -3.1% | -39.2% | 2nd highest of 21 |
| Revenue growth (TTM) | -6.6% | +12.9% | 2nd lowest of 21 |
| Operating margin | 9.9% | 10.6% | 10th lowest of 21 |
| Forward P/E | 16.0× | 21.9× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -3.4% | 7.1% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +0.3% | +16.5% | 2nd lowest of 18 |
| Hurdle (Req g minus delivered) | -3.6 pp | -1.7 pp | 9th least demanding of 18 |
| ROIC minus cost of capital | +2.9 pp | +0.3 pp | 9th highest of 21 |
| EV / EBITDA | 8.3× | 9.3× | 4th cheapest of 8 |
| Net debt / EBITDA | 2.4× | 1.5× | 4th most indebted of 8 |
| Bond spread | 147 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Red Avenue New Materials 9607.HK | Hong Kong | $4.35B | n/a | +30% | 9% | 26.9× | n/a | n/a |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Mitsubishi Gas Chemical 4182.T | Japan | $3.78B | -31% | +3% | 8% | 10.6× | n/a | n/a |
| Novoray 688300.SS | China | $3.76B | -9% | +23% | 26% | 52.7× | 47.6% | +22.6% |
| Ningbo Shanshan 600884.SS | China | $3.71B | -34% | +30% | 9% | 14.4× | 4.5% | +21.3% |
Clariant has 6 bonds outstanding with $1.46B face value. The agencies rate it BBB-; its bonds trade like BB+. Weighted yield 2.84%, a spread of 147 bp over government bonds.