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World's largest maker of collagen, cellulose and plastic casings used to shape sausages and processed meats.
World's largest maker of collagen, cellulose and plastic casings used to shape sausages and processed meats.
Sells casings as consumables to meat processors, used up on their production lines and reordered as plants run. Its plants spread across Europe and the Americas, with collagen and cellulose casings the main products.
In one line: A niche food-packaging leader with no direct US peer.
Moat: wide (scale, process know-how, installed base). Global #1 in casings with proprietary collagen tech; customers' production lines are tuned to its products.
Headquarters: Caseda, Spain · Founded: 1975 · Employees: 5,921
Size Viscofan (VIS.MC) is a Spain Materials company (Containers/Packaging) with a market value of $2.86B, the 41st largest of 97 Spain companies the cockpit tracks. Shares closed at €55.60 on 6 Nov 2026.
Performance Over six months the shares fell 5.1%, against -0.4% for the median peer and +8.2% for the Spain market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 3.1% over the last twelve months (peer median +2.2%); the operating margin is 14.9% (peer median 8.2%).
Valuation It trades at 16.6× forward earnings against a peer median of 14.7× (8th most expensive of 20).
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 +7%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.4 points above its cost of capital (5.5% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.28B | €1.25B | €1.20B | €1.23B | €1.20B |
| Revenue growth | — | +4% | -2% | +2% | — |
| Gross profit | €466M | €467M | €457M | €452M | €472M |
| EBITDA | €277M | €289M | €286M | €269M | €267M |
| Net income | €163M | €160M | €157M | €141M | €139M |
| Free cash flow | n/a | €108M | €154M | €63.2M | €4.79M |
| Capital expenditure | n/a | €80.4M | €75.0M | €77.1M | €116M |
| Total debt | €340M | €281M | €214M | €201M | €163M |
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.
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 | VIS.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.2% | +1.7% | 10th highest of 21 |
| 6-month return | -5.1% | -0.4% | 6th lowest of 21 |
| Distance from 52-week high | -10.8% | -18.5% | 4th highest of 21 |
| Revenue growth (TTM) | +3.1% | +2.2% | 11th highest of 21 |
| Operating margin | 14.9% | 8.2% | 4th highest of 21 |
| Forward P/E | 16.6× | 14.7× | 8th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -3.4% | 1.8% | 5th least demanding of 17 |
| Growth delivered (Del g) | +6.5% | +6.1% | 8th highest of 17 |
| Hurdle (Req g minus delivered) | -10.0 pp | -6.8 pp | 5th least demanding of 17 |
| ROIC minus cost of capital | +6.4 pp | +1.7 pp | 3rd highest of 21 |
| EV / EBITDA | 10.2× | 7.9× | 2nd most expensive of 14 |
| Net debt / EBITDA | 1.0× | 2.9× | 5th least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Viscofan VIS.MC | Spain | $2.86B | -5% | +3% | 15% | 16.6× | -3.4% | +6.5% |
| Ardagh Metal Packaging AMBP | United States | $2.82B | +18% | +17% | 5% | 17.0× | 4.1% | +9.8% |
| Nine Dragons Paper 2689.HK | Hong Kong | $2.76B | -29% | +22% | 9% | 4.4× | n/a | n/a |
| Huhtamaki HUH1V.HE | Finland | $3.12B | -1% | -2% | 9% | 11.0× | -6.3% | +3.7% |
| Verallia SAS VRLA.PA | France | $2.56B | -10% | -3% | 9% | 14.7× | 5.6% | +5.6% |
| Graphic Packaging GPK | United States | $3.31B | +5% | 0% | 6% | 12.3× | 5.0% | +5.6% |
| Vidrala VID.MC | Spain | $3.63B | +18% | -3% | 21% | 14.6× | 5.8% | +8.2% |
| Toyo Seikan 5901.T | Japan | $3.69B | +34% | +6% | 6% | 20.4× | -2.7% | +5.2% |
| Greif GEF | United States | $3.95B | +7% | -2% | 8% | 16.1× | 7.9% | -4.7% |
| Jia Yao 1626.HK | Hong Kong | $2.05B | +175% | +161% | 6% | n/a | n/a | n/a |
| Winpak WPK.TO | Canada | $1.91B | +12% | +3% | 15% | 12.5× | -10.9% | +6.6% |
| Oji 3861.T | Japan | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% | +6.5% |
| Silgan SLGN | United States | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% | +5.7% |
| Shandong Pharmaceutical Glass 600529.SS | China | $1.85B | 0% | -9% | 18% | 16.5× | -2.4% | +5.5% |
| Mondi MNDI.L | United Kingdom | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% | +2.1% |
| ORG Technology 002701.SZ | China | $1.65B | -22% | +24% | 5% | 9.6× | -5.2% | +15.8% |
| Sonoco Products SON | United States | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% | +7.5% |
| Shenzhen YUTO Packaging Technology 002831.SZ | China | $5.19B | 0% | +1% | 11% | 20.8× | -0.4% | +7.9% |
| Jiamei Food Packaging (Chuzhou) 002969.SZ | China | $1.55B | -56% | -10% | 6% | 86.4× | 22.4% | +7.3% |
| Shanghai Zijiang Enterprise 600210.SS | China | $1.54B | -3% | -18% | 10% | 11.3× | n/a | n/a |
| Jiangsu Sidike New Materials Science & Technology 300806.SZ | China | $5.33B | -17% | +12% | 4% | 154.7× | n/a | n/a |