Barry Callebaut AG (FRA:BCLM) Intrinsic Value: Projected FCF: €-0.81 (As of Sep. 10, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:BCLM Barry Callebaut AG FRA:BCLM
69 GF Score
Price €11.40
GF Value €20.18
Valuation Possible Value Trap
! 6 Warning Signs
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What is Barry Callebaut AG Intrinsic Value: Projected FCF?

Barry Callebaut AG FRA:BCLM +1.79% 69 Intrinsic Value: Projected FCF is €-0.81 as of Sep. 10, 2026. GuruFocus rates FRA:BCLM with a GF Score™ of 69/100 and a GF Value™ of €20.18 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,325 Consumer Packaged Goods companies, Barry Callebaut AG ranks worse than 75471.62% on this metric.

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2026-09-10), Barry Callebaut AG's Intrinsic Value: Projected FCF is €-0.81. The stock price of Barry Callebaut AG is €11.40. Therefore, Barry Callebaut AG's Price-to-Intrinsic-Value-Projected-FCF of today is 0.0.

The historical rank and industry rank for Barry Callebaut AG's Intrinsic Value: Projected FCF or its related term are showing as below:

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Barry Callebaut AG was 6.67. The lowest was 1.64. And the median was 2.78.

FRA:BCLM's Price-to-Projected-FCF is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 1.01
* Ranked among companies with meaningful Price-to-Projected-FCF only.

Barry Callebaut AG  (FRA:BCLM) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

Barry Callebaut AG's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF=Share Price/Intrinsic Value: Projected FCF
=11.40/-2.1668669303068
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Barry Callebaut AG Intrinsic Value: Projected FCF Related Terms


Barry Callebaut AG Intrinsic Value: Projected FCF Historical Data

* Premium members only.

The historical data trend for Barry Callebaut AG's Intrinsic Value: Projected FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Barry Callebaut AG Intrinsic Value: Projected FCF Chart

Barry Callebaut AG Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Intrinsic Value: Projected FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.44 10.06 9.52 2.13 -0.80

Barry Callebaut AG Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Intrinsic Value: Projected FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 2.13 0.00 -0.80 0.00

FRA:BCLM vs MDLZ, HSY, TR: Intrinsic Value: Projected FCF Comparison

For the Confectioners subindustry, Barry Callebaut AG's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Barry Callebaut AG Price-to-Projected-FCF vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Barry Callebaut AG's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where Barry Callebaut AG's Price-to-Projected-FCF falls into.


FRA:BCLM
69GF Score
Barry Callebaut AG FRA:BCLM
Intrinsic Value: Projected FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Barry Callebaut AG Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)


Add all the Free Cash Flow together and divide 6 will get Barry Callebaut AG's Free Cash Flow(6 year avg) = €-233.75.

Barry Callebaut AG's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF=(Growth Multiple*Free Cash Flow (6 year avg)+Total Stockholders Equity (Aug25)*0.8)/Shares Outstanding (Diluted Average)
=(14.66034680465*-233.75+2795.374*0.8)/549.437
=-2.17

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Intrinsic Value: Projected FCF of €-0.81 mean?
Barry Callebaut AG (FRA:BCLM) has a Intrinsic Value: Projected FCF of €-0.81 as of Sep. 10, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Barry Callebaut AG and its competitors. According to the industry distribution chart, Barry Callebaut AG ranks #999999 out of 1325 companies in the Consumer Packaged Goods industry.
Is Barry Callebaut AG's Intrinsic Value: Projected FCF too high?
Barry Callebaut AG's current Intrinsic Value: Projected FCF is €-0.81. Based on the distribution chart, Barry Callebaut AG ranks #999999 out of 1325 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Barry Callebaut AG has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Barry Callebaut AG's Intrinsic Value: Projected FCF compare to MDLZ and HSY?
According to the Consumer Packaged Goods industry distribution chart, Barry Callebaut AG ranks #999999 out of 1325 companies for Intrinsic Value: Projected FCF. This places Barry Callebaut AG in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.01. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Consumer Packaged Goods company?
The median Intrinsic Value: Projected FCF among Consumer Packaged Goods companies is 1.01, based on 1,325 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Barry Callebaut AG and its competitors. For the Consumer Packaged Goods industry, the median Intrinsic Value: Projected FCF is 1.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Barry Callebaut AG's current Intrinsic Value: Projected FCF is €-0.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Barry Callebaut AG stock overvalued right now?
Based on GuruFocus' analysis, Barry Callebaut AG (FRA:BCLM) is currently considered Possible Value Trap. The stock's GF Value™ is €20.18, compared to a current price of €11.40 — trading 43.5% below its estimated fair value. The current Intrinsic Value: Projected FCF is €-0.81. Barry Callebaut AG's overall GF Score™ is 69/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Barry Callebaut AG (FRA:BCLM), the current Intrinsic Value: Projected FCF is €-0.81 as of Sep. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Barry Callebaut AG (FRA:BCLM) Overvalued in 2026?

Based on GuruFocus' analysis, Barry Callebaut AG stock appears to be undervalued. The current stock price of €11.40 is trading 43.5% below its estimated GF Value™ of €20.18. GuruFocus considers Barry Callebaut AG to be Possible Value Trap.

Key valuation signals for FRA:BCLM:

  • Intrinsic Value: Projected FCF: €-0.81
  • GF Value™: €20.18 vs. price of €11.40 (43.5% below fair value)
  • GF Score™: 69/100 with 6 warning signs

No single metric tells the full story. See the FRA:BCLM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Barry Callebaut AG Business Description

Address Hardturmstrasse 181, Zurich, CHE, 8005
Barry Callebaut is the leading global manufacturer and supplier of cocoa and chocolate ingredients, employing over 13,000 people. Customers include food and beverage manufacturers as well as artisans, chocolatiers, pastry chefs, and bakers who use chocolate professionally. Barry Callebaut is vertically integrated, from raw material (cocoa bean) procurement through to chocolate manufacturing, without owning any cocoa farms. The firm produces around 40% of the world's industrial chocolate (open market), and its products are used in approximately 20% of the world's chocolate and cocoa goods.
69GF Score

Get the complete analysis for FRA:BCLM

Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€11.40
Price
€20.18
GF Value