Bayer Aktiengesellschaft

BAYN.DE

Drug Manufacturers - General · Healthcare

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Weak

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Winston Score History

The full picture

Bayer AG is a German company that makes medicines, crop protection products, and consumer health goods. Its pharmaceutical division sells prescription drugs like Xarelto (a blood thinner) and Eylea (an eye disease treatment), while its Crop Science division sells pesticides, herbicides, and seeds — including the well-known Roundup brand — to farmers worldwide. Bayer is one of the largest integrated life science companies in the world, operating across both healthcare and agriculture.

Bayer earns money by selling its products directly to hospitals, pharmacies, distributors, and agricultural retailers across more than 100 countries, with significant revenue coming from Europe, North America, and Asia. Its competitive position comes from a large patent portfolio, deep regulatory expertise, and established farmer and physician relationships. However, the company carries substantial legal and financial risk from tens of thousands of ongoing Roundup-related cancer lawsuits, and several key drug patents are approaching expiration, which could meaningfully reduce future revenue.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+215.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€5.1B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Bayer Aktiengesellschaft is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

58.2%

Premium pricing power — 58.2% gross margin

Profit after running costs

Operating Margin

7.6%

Modest — 7.6% operating margin

Return on the money invested

ROCE

21.0%

Exceptional — 21.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

-1.7%

Shrinking sales (-1.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

3.2%

Thin free cash flow (3.2%)

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

N/A

Data not available

Covers its interest

Interest Cover

2.43x

Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.22%

no trend

Small dividend — 0.22% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-71.6%

no trend

Dividend cut (-71.6% YoY) — warning sign

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