ForFarmers N.V. (FFARM.AS) | Investment Case

1. Company Snapshot

1.a. Company Description

ForFarmers N.V. provides feed solutions for conventional and organic livestock farming in the Netherlands, Belgium, Germany, Poland, and the United Kingdom.It offers compound feed and blends, feed for young animals and specialties, raw materials and coproducts, seeds, and fertilizers.The company was founded in 1896 and is headquartered in Lochem, the Netherlands.

Show Full description

1.b. Last Insights on FFARM

ForFarmers N.V. has demonstrated robust profit growth and strategic advancements, driven by a focused execution of its strategy. The company's volume rose to 5.2 million tonnes, with profitability remaining strong. A joint venture in Germany, launched in March, and the acquisition of Van Triest Veevoeders contributed to the positive results. Additionally, ForFarmers secured a new credit facility of €150 million and a €125 million working capital financing facility. The company has also repurchased shares, with 212,721 shares bought back between May 12 and 16, 2025.

1.c. Company Highlights

Last Price	4.41
Change Percentage	-0.23%
Open	4.4
Previous Close	4.42
Market Cap ( Millions)	390
Volume	31500
Year High	4.88
Year Low	3.25
M A 50	4.4
M A 200	4.27

FCF Yield	17.21%
Dividend Yield	4.54%
ROE	15.56%
Debt / Equity	4.25%
Net Debt / EBIDTA	-44.28%
Price To Book	1.18
Price Earnings Ratio	7.56
Price To FCF	5.81
Price To sales	0.13
EV / EBITDA	3.21

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

European Penny Stocks To Consider In December 2025

Dec -04

Source:

European Penny Stocks To Consider In December 2025

Dec -03

Source:

European Penny Stocks: Cyberoo And 2 Other Noteworthy Picks

Dec -03

Source:

European Penny Stocks: 3 Picks With Market Caps Over €100M To Watch

Dec -01

Source:

Spotlight On European Penny Stocks: Net Insight And Two Others

Nov -27

Source:

European Penny Stock Opportunities: Scout Gaming Group And Two More Picks

Nov -24

Source:

Should You Investigate ForFarmers N.V. (AMS:FFARM) At €4.28?

Nov -24

Source:

3 European Penny Stocks With Market Caps Under €60M

Nov -24

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.83%)

6. Segments

Compound Feed

Expected Growth: 4.83%

The 4.83% growth of Compound Feed from ForFarmers N.V. is driven by increasing demand for sustainable animal nutrition, expansion into new markets, and strategic partnerships. Additionally, investments in digitalization and operational efficiency have improved production capacity and reduced costs, enabling the company to capitalize on growing market trends.

Other

Expected Growth: 4.83%

ForFarmers N.V.'s 4.83% growth is driven by increasing demand for animal feed, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on sustainability and innovative products has contributed to its growth. Furthermore, the rise in global meat consumption and the need for efficient animal nutrition have also supported the company's growth.

7. Detailed Products

Compound Feed

A blend of raw materials, vitamins, and minerals formulated to meet the nutritional needs of farm animals

Concentrates

A blend of high-energy and high-protein ingredients used to enrich animal feed

Minerals and Vitamins

Essential nutrients added to animal feed to ensure optimal health and growth

Co-Products

Valuable by-products from the food industry, used as sustainable and nutritious animal feed

Specialty Feed

Customized feed solutions for specific animal species or life stages

Farm Minerals

Essential minerals and trace elements added to animal feed to ensure optimal health and growth

Consultancy Services

Expert advice and guidance on animal nutrition, feed formulation, and farm management

8. ForFarmers N.V.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for ForFarmers N.V. is medium due to the availability of alternative products and services in the animal feed market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the concentration of large customers in the animal feed market, giving them significant negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers of raw materials, reducing their negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the animal feed market, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the animal feed market, leading to intense competition.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	19.70%
Debt Cost	7.73%
Equity Weight	80.30%
Equity Cost	7.73%
WACC	7.73%
Leverage	24.53%

11. Quality Control: ForFarmers N.V. passed 4 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

ForFarmers

A-Score: 7.0/10

Value: 9.2

Growth: 4.6

Quality: 5.1

Yield: 8.1

Momentum: 8.5

Volatility: 6.3

1-Year Total Return ->

Anglo-Eastern Plantations

A-Score: 6.8/10

Value: 7.9

Growth: 5.2

Quality: 7.5

Yield: 5.0

Momentum: 10.0

Volatility: 5.0

1-Year Total Return ->

Origin

A-Score: 6.1/10

Value: 8.9

Growth: 4.6

Quality: 4.2

Yield: 3.8

Momentum: 8.5

Volatility: 7.0

1-Year Total Return ->

Austevoll Seafood

A-Score: 5.6/10

Value: 6.2

Growth: 5.1

Quality: 3.0

Yield: 7.5

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

KWS SAAT

A-Score: 5.5/10

Value: 7.0

Growth: 3.9

Quality: 7.8

Yield: 2.5

Momentum: 5.0

Volatility: 7.0

1-Year Total Return ->

Adecoagro

A-Score: 3.9/10

Value: 1.9

Growth: 6.9

Quality: 2.6

Yield: 6.9

Momentum: 1.0

Volatility: 4.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-7.30%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

7.73%

ForFarmers N.V. - NL0011832811

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on FFARM

1.c. Company Highlights

Cheaper

Higher Yield

Weak Momentum

Average Growth

Stable Momentum

Average Quality

Strong Momentum

Fairly Valued

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.83%)

6. Segments

Compound Feed

Expected Growth: 4.83%

Other

Expected Growth: 4.83%

7. Detailed Products

Compound Feed

Concentrates

Minerals and Vitamins

Co-Products

Specialty Feed

Farm Minerals

Consultancy Services

8. ForFarmers N.V.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: ForFarmers N.V. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.41$

Current Price

4.41$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA