WinstonWınston
Stock

Akzo Nobel N.V.

AKZOY
50
Chemicals - Specialty · Basic Materials
Price
$21.94
+0.57 (+2.67%)
Market Cap
$33.77B
Exchange
Other OTC
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 22, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Mixed
Cash Flow
Strong
Stability
Good
Valuation
Strong
Dividends
Strong

Share count falling — buybacks

7.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 557.6M (2021) → 516.3M (2025)

§Winston Score History

The full picture

Akzo Nobel is a Dutch company that makes paints and coatings. It owns well-known brands like Dulux, Sikkens, and International, selling decorative paints for homes and performance coatings for industries like marine, aerospace, and automotive. It is one of the largest paints and coatings companies in the world.

Akzo Nobel earns revenue by selling paint and coating products to consumers through retail stores and to businesses through direct contracts and distributors. It operates in over 150 countries, with significant presence in Europe, Asia, and the Americas. The company's scale, brand recognition, and technical expertise in specialty coatings give it a competitive edge. Key growth opportunities include expansion in emerging markets and sustainability-focused products, though the business faces ongoing risk from volatile raw material costs and currency fluctuations.

Score breakdown

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Quality

Profit per sale
Gross Margin
41.9%
Healthy — 41.9% gross margin
Profit after running costs
Operating Margin
11.9%
Modest — 11.9% operating margin
Return on the money invested
ROCE
7.8%
Weak — 7.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-5.9%
Shrinking sales (-5.9% YoY)
Profit growth
EPS YoY
+51.9%
Earnings growing fast (+51.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
139%
Turns 139% of profit into real cash
Spare cash per sale
FCF Margin
6.0%
Thin free cash flow (6.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.36
Elevated debt (1.36)
Covers its interest
Interest Cover
5.00x
Adequate interest coverage (5.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
17.8x
Fair value — P/E 17.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+5.6
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (17.8 → 12.3)

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Dividends

Dividend
Dividend Yield
5.50%
Healthy income — 5.50% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+6.8%
Dividend growing modestly (6.8% YoY)

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