olivLaw · European equity research
Arkema AKE.PA
France · Euronext Paris · ISIN FR0010313833 · Vertical: Listed companies from France
Arkema is a French chemicals group producing materials and specialty chemicals for varied industries, with more than 1,800 researchers spread across 17 research centres. Its current relevance lies in exposure to climate risks and the shift toward a low-carbon economy, which the company has built into its strategy.
At the close of 05 Nov 2026, Arkema (AKE.PA) stock was 58.85 EUR (+1.73% on the day), with market capitalisation 7.1 bn EUR, P/E 115.4 on diluted EPS of 0.51 EUR over the last 12 months, dividend yield 6.12%, beta 0.97, 52-week range 48.46–65.45 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 68.6
- strong (55–70)
- Bollinger (20, 2)
- 53.43 – 57.99
- above the upper band · %B 1.19 · band width 8.2%
- SMA 50 / 200
- 56.54 / 58.11
- mixed trend
- MACD (12, 26, 9)
- 0.35 / -0.11
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.8% | +0.4% | +6.4 pp | — |
| 3 months | −4.0% | −3.3% | −0.7 pp | — |
| 6 months | −5.5% | +4.0% | −9.5 pp | — |
| Year to date | +12.8% | +8.1% | +4.7 pp | — |
| 1 year | +18.0% | +10.7% | +7.3 pp | −10.8% |
| 3 years | −33.6% | +50.1% | −83.7 pp | −4.2% |
| 5 years | −49.4% | +43.6% | −93.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 3-quarter history (min 16.4, median 19.2, max 102.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 9.5 bn | 9.5 bn | 9.1 bn |
| Revenue YoY | unavailable | +0.3% | −5.0% |
| Net income | 418.0 m | 354.0 m | 63.0 m |
| Net income YoY | unavailable | −15.3% | −82.2% |
| Diluted EPS | 5.36 | 4.49 | 0.51 |
| Diluted EPS YoY | unavailable | −16.2% | −88.6% |
| net % | 4.4% | 3.7% | 0.7% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.2 bn EUR
- Financial debt
- 3.8 bn EUR
- Net debt
- 1.6 bn EUR
- Equity
- 7.0 bn EUR
- Total assets
- 14.2 bn EUR
- Debt / equity
- 0.54x
- Current ratio
- 2.13x
- ROE
- 0.9%
- ROA
- 0.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 9.5 bn | 9.5 bn | 9.1 bn | esef· 07 Apr 2026verified |
| Research & development | 275.0 m | 278.0 m | 284.0 m | esef· 07 Apr 2026verified |
| Operating income | 681.0 m | 586.0 m | 288.0 m | esef· 07 Apr 2026verified |
| Income tax | 177.0 m | 150.0 m | 100.0 m | esef· 07 Apr 2026verified |
| Net income | 418.0 m | 354.0 m | 63.0 m | esef· 07 Apr 2026verified |
| Diluted EPS | 5.36 | 4.49 | 0.51 | esef· 07 Apr 2026verified |
| Dividend per share | — | 3.50 | 3.60 | esef· 07 Apr 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.0 bn | 2.0 bn | 2.2 bn | esef· 07 Apr 2026verified |
| Inventories | 1.2 bn | 1.3 bn | 1.1 bn | esef· 07 Apr 2026verified |
| Current assets | 4.9 bn | 5.0 bn | 4.8 bn | esef· 07 Apr 2026verified |
| Property, plant & equipment, net | 3.7 bn | 4.2 bn | — | esef· 15 Apr 2025verified |
| Goodwill | 3.0 bn | 3.1 bn | 2.9 bn | esef· 07 Apr 2026verified |
| Intangibles (excl. goodwill) | 2.4 bn | 2.4 bn | 2.1 bn | esef· 07 Apr 2026verified |
| Total assets | 14.5 bn | 15.2 bn | 14.2 bn | esef· 07 Apr 2026verified |
| Long-term debt | 3.7 bn | 3.7 bn | 3.8 bn | esef· 07 Apr 2026verified |
| Current liabilities | 2.1 bn | 2.5 bn | 2.3 bn | esef· 07 Apr 2026verified |
| Equity | 7.5 bn | 7.8 bn | 7.0 bn | esef· 07 Apr 2026verified |
| Shares outstanding at year end | 77.6 m | 78.5 m | 121.2 m | esef· 07 Apr 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 31.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 7.1 bn EUR
Key indicators
Coverage and freshness
Score by group
31% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.86 – 66.76 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E5.86 – 15.04 (Mid 9.08)21 companies used · median multiple 17.8x · quartiles 11.5x – 29.5x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA, BN.PA
- Dividend discount (DDM)48.96 – 66.76 (Mid 56.49)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 31.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 2.7% | 24 (vs peers) | 33% |
| Net margin · Quality | 0.7% | 36 (vs peers) | 20% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.1x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | 115.4x | 4 (vs peers) | 33% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality28/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial4/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ARKEMA (AKE.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 9.1 bn EUR in 2025; YoY growth -5.0%; net margin 0.7%; ROE 0.9%.
The estimated value range is 27.41–40.90 EUR per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 32.78 EUR, the price of 58.85 EUR leaves a potential of -44.3% (value / price − 1) and a margin of safety of -79.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 31.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.1x
What contradicts it
- ROIC: 2.7%
- P/E (TTM): 115.4x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| BN.PADanone | 44.1 bn | 21.9 | 11.9% | 7.4% | −0.9% | −11% / +16% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for AKE.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 32.09 Total return -45% · Per year -45% | 57.01 Total return -2% · Per year -2% | 86.27 Total return 48% · Per year 48% |
| 3 years | 25.48 Total return -55% · Per year -23% | 51.47 Total return -10% · Per year -4% | 86.29 Total return 50% · Per year 14% |
| 5 years | 20.24 Total return -63% · Per year -18% | 46.46 Total return -17% · Per year -4% | 86.31 Total return 52% · Per year 9% |
- Exit P/E± 12.87
- Net margin± 9.01
- Annual revenue growth± 8.13
- Annual dilution± 0.76
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Arkema is a French chemicals group producing materials and specialty chemicals for varied industries, with more than 1,800 researchers spread across 17 research centres. Its current relevance lies in exposure to climate risks and the shift toward a low-carbon economy, which the company has built into its strategy.
SWOT
Strengths
- Extensive network of industrial sites and a solid research and development structure, with centres spread across several regions.
- Centralised purchasing policy with diversified suppliers and long-term contracts for critical raw materials.
- Externally validated climate commitment, with emissions reduction targets aligned with a 1.5 degree pathway.
Weaknesses
- A significant number of sites are exposed to climate risks, and some are the only plants for certain products.
- An ageing workforce and difficulty transferring skills to younger generations.
- Dependence on complex information systems makes operations vulnerable to outages or cyber attacks.
Opportunities
- Developing new substitutes and blends for fluorinated gases could open new market segments.
- The shift to low-carbon technologies could create demand for sustainable solutions developed by the group.
- Digitalisation of processes could improve operational efficiency if implemented in time.
Threats
- Stricter climate regulation could generate additional costs, taxes or penalties for certain products.
- Extreme weather events could interrupt production at a significant number of sites.
- Rival solutions emerging from the energy transition could reduce market share.
- Supply chain disruptions or health crises could affect deliveries to customers.
Risks
- Climate transition riskshigh
New regulations or energy restrictions could limit access to resources and raise energy costs, which could affect profitability.
- Physical climate riskshigh
Floods, droughts and storms could affect production sites, with impact on revenue and insurance costs.
- Cybersecuritymedium
Failures, intrusions or malicious use of information systems could halt industrial units and damage reputation.
- Talent shortagemedium
Difficulty recruiting and retaining technical staff could lead to a loss of experience and know-how over the long term.
- Supply chain disruptionsmedium
Site shutdowns, transport problems or health crises could delay deliveries and affect customer relationships.
Investment thesis
What would need to be true (bull case)
- If the shift to low-carbon technologies accelerates, the portfolio of sustainable solutions and the extensive research base could become a competitive advantage.
- Externally validated climate commitments and the energy efficiency programme could reduce exposure to energy costs and regulation.
- Diversifying suppliers and geographies could limit the impact of supply chain disruptions.
What would break the thesis
- A large share of revenue tied to climate-vulnerable sites could weigh on results if an extreme event occurs.
- Regulation of fluorinated gases could require significant adaptation costs and reduce profitability of some product lines.
- The shortage of technical talent and an ageing workforce could limit the ability to execute complex industrial projects.
What to watch
- Evolution of fluorinated gas regulation and its impact on product lines2026
- Progress toward the target to cut net energy purchases by 25 percent by 20302030
- Climate adaptation measures applied to the 25 exposed sitesnext 10-K
- Pace of attracting and retaining technical staff in research centres2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the 2025 universal registration document, Arkema operates 154 industrial sites, and its research and development is concentrated in 17 research centres grouped in three regional hubs. The group centralises its purchasing, diversifying supply sources and using long-term contracts for critical raw materials. The company also cites investment in complex industrial projects, such as the new specialty polyamides platform in Singapore.
Research is central to the business model, since the company states its teams enable innovation through sustainable solutions in products and applications. Arkema depends on its ability to attract and retain qualified staff, which it treats as a major risk.
The group also runs an energy efficiency programme, Arkema Energy, aimed at reducing net energy purchases and supporting its climate goals validated by the Science-Based Targets Initiative.
Segments
Climate-exposed industrial sites
Of the 154 industrial sites, 25 are considered particularly exposed due to their geographic location, and these represent about 29 percent of group revenue in 2025 1. For most of these sites there is an alternative production route within the group, but some are the only plants making certain products.
Research and development
The company had more than 1,800 researchers at the end of 2025, organised in 17 research centres and three regional research and innovation hubs 1. This structure supports the development of new blends and substitutes, particularly for fluorinated gases whose regulation the company anticipates.
Market context
The source notes that fluorinated gases have for many years been the products most exposed to evolving regulation on greenhouse gas emissions, including carbon taxes or quotas. A shift toward low-carbon technologies could generate more competitive solutions from rivals. The target to cut net energy purchases by 25 percent by 2030 versus 2012 illustrates pressure on energy costs 1.
The technical labour market is also a contextual factor: for younger generations the appeal of industrial careers is declining, and the shortage of technical skills creates intense competition for talent.
Trends
- Regulation of fluorinated gasesmixed
Fluorinated gases are identified as the most exposed to new regulation, which obliges the company to develop new substitutes and blends. This could open opportunities if the solutions are accepted by customers.
- Shift to a low-carbon economymixed
A move toward low-carbon technologies could create opportunities for new products, but also competition from more competitive solutions. The company has had its emissions reduction targets validated by the Science-Based Targets Initiative.
- Physical effects of climate changeheadwind
Floods, droughts and storms could affect production sites, and some plants are the sole producers of certain products, which could significantly reduce revenue from the affected activity.
- Shortage of technical talentheadwind
Attracting and retaining qualified staff is becoming harder as experienced employees retire and the appeal of industrial careers declines. Digitalisation and the energy transition are changing the skills required.
Competitive position
The source document does not explicitly name the group's competitors. It only notes that low-carbon technologies could bring more competitive rival offers, without naming specific firms.
- Low-carbon solution providers
The source generally refers to new rival offers emerging with the shift to low-carbon technologies, without naming companies.
- Other fluorinated gas producers and substitute developers
Regulation on fluorinated gases could favour the emergence of substitutes developed by other players in the sector.
- Firms competing for technical talent
The source flags intense competition for technical industrial roles, without naming concrete entities.
- Alternative raw material and energy suppliers
Diversifying supply sources is cited as a mitigation mechanism, which underlines the role of alternative suppliers in the sector.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202507 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Arkema · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.