DSM Firmenich AG

DSFIR: XAMS (NLD)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€829.00	Vxvqh	Wkknztt

DSM-Firmenich Has a Wide Moat Through Leading Positions Across Food, Flavor, Fragrance, and Health

Diana Radu

Oct 31, 2023

Business Strategy and Outlook

DSM-Firmenich is one of the largest consumer chemical companies in the world. Following the merger of Firmenich and DSM, a majority of revenue is derived from segments that benefit from leading market positions across increasingly consolidated industries, such as flavor and fragrance, and the broader food ingredients market. This has earned the company a wide moat, stemming from intangible assets and switching costs.

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