Bayer Aktiengesellschaft

BAYN.SG

Drug Manufacturers - General · Healthcare

Price

€49.78

+0.51 (+1.04%)

Market Cap

€48.97B

Exchange

Stuttgart Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Bayer is a large German company that makes medicines, crop protection products, and consumer health items. Its pharmaceutical division sells drugs for conditions like heart disease, cancer, and eye disorders — with Xarelto (a blood thinner) and Eylea (an eye treatment) among its best-known products. Its crop science division sells pesticides, herbicides, and seeds to farmers worldwide, and it owns the Monsanto brand after a major acquisition in 2018.

Bayer earns money by selling prescription drugs to hospitals and pharmacies, agricultural chemicals and seeds to farmers, and over-the-counter health products to consumers. It operates globally, with significant revenue from Europe, North America, and Asia, and reported roughly $47 billion in market value as of mid-2026. The company's biggest ongoing challenge is massive legal liability tied to Roundup weedkiller lawsuits, which have cost billions in settlements and continue to weigh on its finances and investor confidence.

Winston Score History

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

-2.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+112.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$5.8B/ year

↓ Declining (-7% vs prior year)

12.7% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~12 months

$9.5B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

Bayer Aktiengesellschaft's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 982.4M (2021) → 982.4M (2025)

Score breakdown

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Quality

Gross Margin

61.0%

Premium pricing power — 61.0% gross margin

Operating Margin

23.2%

Excellent — 23.2% operating margin

ROCE

4.6%

Weak — 4.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-2.9%

Shrinking sales (-2.9% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

4.4%

Thin free cash flow (4.4%)

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

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Stability

Debt / Equity

1.35

Elevated debt (1.35)

Interest Cover

2.67x

Tight — interest eats into profit (2.7x)

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

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

0.23%

Small dividend — 0.23% yield

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

Dividend Growth

-71.6%

Dividend cut (-71.6% YoY) — warning sign

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