Original-Research: Wacker Chemie (von Parmantier & Cie. GmbH): BUY
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Original-Research: Wacker Chemie - from Parmantier & Cie. GmbH
Classification of Parmantier & Cie. GmbH to Wacker Chemie
PRESS RELEASE Parmantier & Cie. reiterates Buy on Wacker Chemie with unchanged €106 price target Siltronic guidance upgrade supports semiconductor read-across; constructive SOTP scenarios indicate additional valuation potential Frankfurt am Main, 5 November 2026. Parmantier & Cie. Research reiterates Buy on Wacker Chemie with an unchanged formal price target of €106. In their latest research update, analysts Stefan Heieck and René Parmantier continue to expect Wacker to outperform its conservative Q4 guidance. Parmantier & Cie. forecasts €790m EBITDA for 2027 and €854m for 2028. The investment case centres on an operating recovery in Silicones and Polymers and a stronger balance sheet. The PCR base-case assumption of €500m net cash in 2027 is an independent estimate, not company guidance. Today’s guidance upgrade from Siltronic provides a positive read-across for semiconductor materials. Siltronic now expects 2026 sales approximately in line with the previous year and has narrowed its EBITDA-margin guidance from 20-24% to 22-24%. This does not yet establish a sustainable recovery in solar polysilicon. The constructive sum-of-the-parts valuation indicates approximately €120 per Wacker share after valuation-timing adjustment, or approximately €129 on a nominal 2028 basis. Both are scenarios and not new formal price targets. Principal risks remain China, polysilicon and solar, European energy costs, weak end markets and cash conversion. Investors interested in the full study and joining our research mailing list are invited to email: research@parmantiercie.com. Independent research. This announcement is a marketing summary, not investment advice. Forecasts and fair-value scenarios are not guarantees. The full study contains the valuation assumptions, risks and regulatory disclosures. You can download the research here: Contact for questions: René Parmantier & Stefan Heieck
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2429154 05.11.2026 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026e | ||
| Sales1 | 4.692,20 | 6.207,50 | 8.209,30 | 6.402,20 | 5.721,80 | 5.485,30 | 5.625,00 | |
| EBITDA1,2 | 666,30 | 1.538,50 | 2.080,90 | 823,60 | 762,80 | 426,70 | 610,00 | |
| EBITDA-Margin3 | 14,20 | 24,79 | 25,35 | 12,86 | 13,33 | 7,78 | 10,84 | |
| EBIT1,4 | 262,00 | 1.134,30 | 1.477,10 | 404,90 | 290,10 | -179,70 | 60,00 | |
| EBIT-Margin5 | 5,58 | 18,27 | 17,99 | 6,32 | 5,07 | -3,28 | 1,07 | |
| Net Profit (Loss)1 | 202,30 | 827,80 | 1.281,60 | 327,30 | 260,70 | -804,90 | 15,00 | |
| Net-Margin6 | 4,31 | 13,34 | 15,61 | 5,11 | 4,56 | -14,67 | 0,27 | |
| Cashflow1,7 | 697,70 | 760,80 | 438,80 | 165,60 | -326,00 | -3,60 | 0,00 | |
| Earnings per share8 | 3,81 | 16,24 | 25,18 | 6,31 | 4,85 | -16,53 | 0,20 | |
| Dividend per share8 | 2,00 | 8,00 | 12,00 | 3,00 | 2,50 | 0,00 | 0,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: PricewaterhouseCoopers
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
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| Wacker Chemie | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| WCH888 | DE000WCH8881 | AG | 4.247,83 Mio € | 10.04.2006 | Halten | 8FWH4JF4+G2 |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 16,29 | 14,47 | 1,13 | 16,45 | 1,18 | -849,57 | 0,77 |
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Dividend '2024 in € |
Dividend '2025 in € |
Dividend '2026e in € |
Div.-Yield '2026e in % |
| 2,50 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 06.05.2026 | 29.04.2026 | 30.07.2026 | 29.10.2026 | 11.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -8,12% | -7,46% | +17,45% | +21,12% | +1,81% |
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