Umicore, BE0974320526

Umicore stock shows a 21.47 percent analyst upside case

Published on 10/07/2026 at 13:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Umicore stock has a 13-analyst Buy consensus with a EUR 25.63 average target on October 6, 2026. H1 adjusted EBITDA rose 33 percent to EUR 577 million.

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Umicore stock (ISIN BE0974320526) shows a 21.47 percent analyst upside case, with a 13-analyst Buy consensus and an average target of EUR 25.63 against a last price of EUR 21.10 on October 6, 2026. The company also reported a sharp improvement in first-half earnings, with adjusted EBITDA up 33 percent to EUR 577 million in H1 2026, according to Yahoo Finance on July 31, 2026.

Consensus points above EUR 25

According to Investing.com, seven analysts rate Umicore Buy, six rate it Hold and none rate it Sell. The average target of EUR 25.63 lies 21.47 percent above the EUR 21.10 share price, while the published high and low targets are EUR 33.00 and EUR 18.50.

The valuation signal is constructive but divided: the low target remains below the October 6 price, while the high target implies a materially larger re-rating. That spread makes the consensus less uniform than the headline Buy label suggests.

H1 EBITDA rises 33 percent

In the H1 2026 earnings call dated July 31, 2026, Yahoo Finance reported that revenue grew 7 percent to EUR 1.9 billion and adjusted EBITDA reached EUR 577 million. The adjusted EBITDA margin rose to 30.2 percent, while return on capital employed increased to 23 percent.

Management raised full-year 2026 adjusted EBITDA guidance to above EUR 1 billion, compared with earlier guidance to approach EUR 1 billion, according to Umicore. The call also cautioned that second-half performance would be lower than the first half because exceptional conditions in Recycling and Specialty Materials were not expected to continue.

Cash generation improves in H1

Cash flow from operations reached EUR 565 million in H1 2026, compared with EUR 260 million in H1 2025, while free operating cash flow was EUR 295 million against an outflow of EUR 54 million a year earlier, according to Yahoo Finance. Adjusted earnings per share doubled to EUR 1.14, while net debt increased by EUR 151 million to EUR 1.5 billion.

The operating picture therefore combines stronger profitability with a more demanding second-half comparison. Battery Cathode Materials also generated adjusted EBITDA of EUR 90 million, versus negative EUR 15 million in the prior-year period, but management said volumes remained broadly stable.

Brussels quote stays near EUR 21

Umicore was last at EUR 21.10 on Euronext Brussels on October 6, 2026, up 0.19 percent, with a 52-week range of EUR 14.19 to EUR 26.98 and market capitalization of EUR 5.1 billion.