Henkel AG & Co KGaA
HEN: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€16.00 | Jwlmngt | Hphdfwzn |
Henkel Bounces Back in First-Half Fiscal 2021, but Cost Pressures Loom
Business Strategy and Outlook
After several years of impressive margin expansion--Henkel's reported EBIT margin grew from 11.3% in 2011 to 15.7% in 2018 before collapsing to an adjusted 13.4% during the coronavirus pandemic--we believe the company must now dial back some of those gains in order to avoid stagnation in its growth rate.