Latest / Warren's Watchlist - english
BASF - Update 07/09/2026 - ISIN DE000BASF111
BASF Stock Score 2 – The Farmer Eating His Seed Corn
"BASF reports a record quarter with €4bn net profit – yet almost all of it comes from a sale. Our Warren Wise report, based on the 2025 annual report, says Score 2 of 5.
How does that fit together? • Score 2 is baseline: structural weaknesses, one step below solid • The record quarter is essentially a sale: a large portion of the profit came from the sale of paint to Carlyle, only a small portion came from the production and sale of chemicals • The farmer eats his seed: more paid out than earned, the gap filled with debt and disposals • The…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.