{"id":4916,"date":"2026-07-02T12:34:08","date_gmt":"2026-07-02T10:34:08","guid":{"rendered":"https:\/\/mumak.me\/?p=4916"},"modified":"2026-07-03T11:25:18","modified_gmt":"2026-07-03T09:25:18","slug":"valuation-analysis-bayer-ag","status":"publish","type":"post","link":"https:\/\/mumak.me\/en\/research-insights\/valuation-analysis\/valuation-analysis-bayer-ag\/","title":{"rendered":"Valuation Analysis: Bayer AG"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4916\" class=\"elementor elementor-4916 elementor-4915\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab0bcff e-flex e-con-boxed e-con e-parent\" data-id=\"ab0bcff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6fc547c e-con e-atomic-element e-div-block-base e-6fc547c-de8a3ea \" data-id=\"6fc547c\" data-element_type=\"e-div-block\" 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data-interaction-id=\"a2e5b6c\" class=\"e-a2e5b6c-f5c6f5c rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"a2e5b6c\">Analysis Result: 4 out of 5 MUMAKS<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-7cecee3 elementor-widget elementor-widget-text-editor\" data-id=\"7cecee3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Rating<\/h2><p><span data-contrast=\"none\">This analysis assesses Bayer AG under the UMBRELLA strategy using the MUMAK method.  <\/span><\/p><p><span data-contrast=\"none\">The valuation is conducted across five decision-making phases: <strong>Geopolitics<\/strong>, <strong>Industry<\/strong>, <strong>Fundamentals<\/strong>, <strong>Market Sentiment<\/strong>, and <strong>Technical Analysis.<\/strong><\/span><\/p><p><span data-contrast=\"none\">The goal is not to predict the future precisely. The goal is orientation. We contextualize facts, demonstrate causal relationships, and structure a comprehensible decision logic.  <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":216}\"> <\/span><\/p><p><b><span data-contrast=\"none\">We explain \u2013 you decide.<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":216}\"> <\/span><\/p><h3>Geopolitics<\/h3><h4 aria-level=\"2\"><strong>Classification <\/strong><\/h4><p><span data-contrast=\"none\">The current geopolitical environment remains broadly supportive for global pharmaceutical and agricultural companies.<\/span><span data-ccp-props=\"{}\"> <\/span><\/p><h4 aria-level=\"2\"><span data-contrast=\"none\">Key Takeaway<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"29\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">The growing importance of food security, healthcare, and resilient supply chains supports long-term demand for Bayer AG\u2019s products.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"29\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">The <strong>war in Ukraine<\/strong>, geopolitical tensions between the US and China, and the rising need for productive and sustainable agriculture are increasing the strategic importance of modern seed and crop protection technologies.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"29\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">The US remains Bayer\u2019s most important single market, in both the pharma and agriculture segments. This gives the company exposure to an attractive market environment, but also makes it more vulnerable to political and regulatory changes and litigation. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"29\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">At the same time, regulatory and political risks are increasing. In particular, crop protection products, genetic technologies, and sustainability requirements are increasingly in the spotlight of governments and authorities in Europe, North America, and other key markets. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"29\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"none\">Bayer is strategically positioned as one of the world\u2019s leading life-science groups, with a strong presence in the US, Europe, and key international agricultural and pharmaceutical markets. This leaves the company well placed to benefit from long-term trends in health and nutrition. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p> <\/p><p><strong><span class=\"TextRun SCXW65624469 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW65624469 BCX4\">MUMAK.me Assessment Phase 1: Positive = 1 MUMAK<\/span><\/span><span class=\"EOP SCXW65624469 BCX4\" data-ccp-props=\"{}\"> <\/span><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-247c04b e-con e-atomic-element e-div-block-base e-247c04b-4ef77fa \" data-id=\"247c04b\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"247c04b\" data-e-type=\"e-div-block\" data-id=\"247c04b\">\n    <div class=\"elementor-element elementor-element-1e44b73 e-con e-atomic-element e-div-block-base e-1e44b73-5ba3c89 \" data-id=\"1e44b73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"1e44b73\" data-e-type=\"e-div-block\" data-id=\"1e44b73\">\n    \t\t\t<div class=\"e-6f1b4aa-81e4561 e-svg-base\" data-interaction-id=\"6f1b4aa\" data-e-type=\"widget\" data-id=\"6f1b4aa\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" 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d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"086fea4\" class=\"e-086fea4-1fe6f21 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"086fea4\">Geopolitics Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-7538b74 elementor-widget elementor-widget-text-editor\" data-id=\"7538b74\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Industry<\/h3><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Assessment<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><p><span data-contrast=\"none\">The pharmaceutical and agricultural industries continue to benefit from structural demand growth, high barriers to entry, and long-term global megatrends such as population growth, ageing societies, and food security.<\/span><span data-ccp-props=\"{}\"> <\/span><\/p><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"3\"><span data-contrast=\"none\">Valuation comparison: Bayer vs. sector peers<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c843e25 elementor-widget elementor-widget-Table\" data-id=\"c843e25\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Metric <\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >Bayer<\/th><th class=\"elementor-inline-editing elementor-repeater-item-40c4b99\"   >Industry Average*<\/th><th class=\"elementor-inline-editing elementor-repeater-item-0f3a12a\"   >Rating<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-d27b099 td-content-type-default\" ><b>P\/E Ratio <\/b><\/td><td data-label=\"Bayer\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >N\/M (negative earnings)  \n<\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-f11f13c td-content-type-default\" >approx. 16\u201322x  <\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-9f7bfea td-content-type-default\" >Discount  <\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-e014835 td-content-type-default\" ><b>EV\/EBITDA<\/b><\/td><td data-label=\"Bayer\"   class=\"elementor-repeater-item-96a1917 td-content-type-default\" >approx. 5\u20136x  <\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-360abad td-content-type-default\" >approx. 10\u201314x\n<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-06e6ddc td-content-type-default\" >Significant discount  \n<\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-2c18166 td-content-type-default\" ><b>Gross margin  <\/b><\/td><td data-label=\"Bayer\"   class=\"elementor-repeater-item-d036ffc td-content-type-default\" >approx. 57%  <\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-4f3a785 td-content-type-default\" >approx. 65\u201375%<\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-7ed3491 td-content-type-default\" >Discount  <\/td><\/tr><tr><td data-label=\"Metric\"   class=\"elementor-repeater-item-02b37c4 td-content-type-default\" ><b>Revenue Growth <\/b><\/td><td data-label=\"Bayer\"   class=\"elementor-repeater-item-83a4e86 td-content-type-default\" >approx. -2% to +1%  <\/td><td data-label=\"Industry Average*\"   class=\"elementor-repeater-item-55ff8e5 td-content-type-default\" >approx. 4\u20138%  <\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-4b39794 td-content-type-default\" >Discount<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45a3293 elementor-widget elementor-widget-text-editor\" data-id=\"45a3293\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><i><span data-contrast=\"none\">*Based on Novartis, Roche, Sanofi, Merck KGaA, Corteva, and other major pharmaceutical and agricultural companies.<\/span><\/i><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><p><span data-ccp-props=\"{}\"> <\/span><\/p><h4 aria-level=\"2\"><span data-contrast=\"none\">Key Takeaway<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"30\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">Rising demand for pharmaceuticals, advanced seed solutions, and efficient agriculture supports the sector\u2019s long-term development.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"30\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">Trends such as precision agriculture, sustainable yield improvements, and innovation in pharmaceutical research provide planning certainty over multiple years.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"30\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">In particular, the agriculture business is among the world\u2019s leading providers of seeds and crop protection products, while the pharma business benefits from a strong position in selected therapeutic areas.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"30\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">At the same time, the sector remains heavily regulated; pricing pressure in healthcare, stricter environmental requirements, and patent cycles remain key drivers of long-term profitability.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559685\":720,\"335559738\":0,\"335559739\":0}\"> <\/span><\/p><p><b><span data-contrast=\"none\">MUMAK.me Phase 2 Rating: Neutral = 0 MUMAK<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-65e8a73 e-con e-atomic-element e-div-block-base e-65e8a73-014d5e9 \" data-id=\"65e8a73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"65e8a73\" data-e-type=\"e-div-block\" data-id=\"65e8a73\">\n    <div class=\"elementor-element elementor-element-f7619be e-con e-atomic-element e-div-block-base e-f7619be-23722f2 \" data-id=\"f7619be\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"f7619be\" data-e-type=\"e-div-block\" data-id=\"f7619be\">\n    \t\t\t<div class=\"e-5467c68-db40dfd e-svg-base\" data-interaction-id=\"5467c68\" data-e-type=\"widget\" data-id=\"5467c68\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" 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d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"f5b1020\" class=\"e-f5b1020-95bf817 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"f5b1020\">Industry Rating: neutral<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-e9d3a8f elementor-widget elementor-widget-text-editor\" data-id=\"e9d3a8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3><b><span data-contrast=\"none\">Fundamentals<\/span><\/b><\/h3><h4 aria-level=\"2\"><span data-contrast=\"none\">Assessment<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><p><span class=\"TextRun SCXW50745825 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW50745825 BCX4\">Bayer AG\u2019s fundamentals present a mixed picture. While profitability is improving significantly and operational progress is becoming visible, high leverage, legal risks, and weak cash flow development continue to weigh on the company. <\/span><\/span><span class=\"EOP Selected SCXW50745825 BCX4\" data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/Bayer_Financial-Data-19.06.2026-scaled.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"00aceda\"\n\t><img decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"00aceda\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/Bayer_Financial-Data-19.06.2026-scaled.png\" alt=\"Bayer_Fundamentaldaten\"\/>\t<\/a>\t\t\t\t<div class=\"elementor-element elementor-element-8503501 elementor-widget elementor-widget-text-editor\" data-id=\"8503501\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5><span class=\"TextRun SCXW38265695 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW38265695 BCX4\" data-ccp-parastyle=\"heading 3\">Outlook 2026<\/span><\/span><span class=\"EOP Selected SCXW38265695 BCX4\" data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c653961 elementor-widget elementor-widget-Table\" data-id=\"c653961\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >FY 2026e<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-d27b099 td-content-type-default\" ><b>Revenue<\/b><\/td><td data-label=\"FY 2026e\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >~ EUR 45.5 billion\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e014835 td-content-type-default\" ><b>EBITDA  <\/b><\/td><td data-label=\"FY 2026e\"   class=\"elementor-repeater-item-96a1917 td-content-type-default\" >~ EUR 9.65 billion\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-2c18166 td-content-type-default\" ><b>Free Operating Cash Flow<\/b><\/td><td data-label=\"FY 2026e\"   class=\"elementor-repeater-item-d036ffc td-content-type-default\" >~ EUR -1.5\/-2.5 billion (including ~ EUR 5 billion for litigation payouts)<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-02b37c4 td-content-type-default\" ><b>Group net debt  <\/b><\/td><td data-label=\"FY 2026e\"   class=\"elementor-repeater-item-83a4e86 td-content-type-default\" >~ EUR 32\u201333 billion (incl. litigation payouts)  <\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-3fdfc9d td-content-type-default\" ><b>Forward P\/E (2026e) <\/b><\/td><td data-label=\"FY 2026e\"   class=\"elementor-repeater-item-be2b700 td-content-type-default\" >~ 15x<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7013132 elementor-widget elementor-widget-text-editor\" data-id=\"7013132\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5 aria-level=\"3\"><b><span data-contrast=\"none\">Financial Metrics<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-265b238 elementor-widget elementor-widget-Table\" data-id=\"265b238\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >FY 2025  <\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-d27b099 td-content-type-default\" ><b>Revenue FY2025<\/b><\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >EUR 45.8 billion (-2% vs. 2024)\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e014835 td-content-type-default\" ><b>EBITDA FY2025<\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-96a1917 td-content-type-default\" >EUR 8.87 billion (+33.9% vs. 2024)\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-2c18166 td-content-type-default\" ><b>FOCF FY2025 <\/b><\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-d036ffc td-content-type-default\" >EUR 2.1 billion (-32.9% vs. 2024)<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-02b37c4 td-content-type-default\" ><b>Revenue 2026e<\/b><\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-83a4e86 td-content-type-default\" >~ EUR 45.5 billion<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-be3c55f td-content-type-default\" ><b>EBITDA 2026e<\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-e13d752 td-content-type-default\" >~ EUR 9.65 billion   <\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-9816593 td-content-type-default\" ><b>FOCF 2026e<\/td><td data-label=\"FY 2025\"   class=\"elementor-repeater-item-56d4350 td-content-type-default\" >~ EUR -1.5\/-2.5 billion<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e23bcd0 elementor-widget elementor-widget-text-editor\" data-id=\"e23bcd0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><em><span class=\"TextRun SCXW196523219 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW196523219 BCX4\">Bayer AG<\/span><span class=\"NormalTextRun SCXW196523219 BCX4\"> \u2013 Financial overview. Source: <\/span><span class=\"NormalTextRun SCXW196523219 BCX4\">Bayer AG annual financial statements 2025,<\/span> <span class=\"NormalTextRun SCXW196523219 BCX4\">Bayer makes a solid start to the year and confirms currency-adjusted group guidance for<\/span><\/span> <span class=\"TextRun SCXW196523219 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW196523219 BCX4\">2026, <\/span><span class=\"NormalTextRun SCXW196523219 BCX4\">MarketScreener<\/span><span class=\"NormalTextRun SCXW196523219 BCX4\"> valuation data, accessed in July 2026.<\/span><\/span><span class=\"EOP Selected SCXW196523219 BCX4\" data-ccp-props=\"{\"134233118\":false,\"335559739\":555}\"> <\/span><\/em><\/p><h4><span data-contrast=\"none\">Key Takeaway<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><ul><li class=\"PDq2pG_selectionAnchorContainer\" data-start=\"0\" data-end=\"216\"><strong data-start=\"4\" data-end=\"85\">Operational development remains stable despite a challenging market environment<\/strong>. Bayer achieved revenue of <strong data-start=\"113\" data-end=\"141\">\u20ac45.8 billion<\/strong> in 2025, which corresponds to a <strong data-start=\"153\" data-end=\"182\">slight decrease of 2%<\/strong> compared to the previous year. <\/li><\/ul><p> <\/p><ul><li data-start=\"218\" data-end=\"457\">The <strong data-start=\"222\" data-end=\"300\">Profitability improved significantly more than revenue development<\/strong>. <strong data-start=\"306\" data-end=\"355\">EBITDA rose by 33.9% to \u20ac8.87 billion in 2025<\/strong>, benefiting from <strong data-start=\"376\" data-end=\"430\">efficiency measures and operational improvements<\/strong> in the business segments. <\/li><\/ul><p> <\/p><ul><li data-start=\"708\" data-end=\"1041\">The <strong data-start=\"712\" data-end=\"770\">Free Cash Flow remains a burden in the short term<\/strong>. After a <strong data-start=\"783\" data-end=\"822\">decline of 32.9% to \u20ac2.1 billion<\/strong> in 2025, Bayer expects a <strong data-start=\"866\" data-end=\"926\">negative Free Cash Flow of approximately -\u20ac1.5 to -\u20ac2.5 billion<\/strong> for 2026, mainly due to <strong data-start=\"955\" data-end=\"1040\">payments related to legal disputes and restructuring measures<\/strong>. <\/li><\/ul><p> <\/p><ul><li data-start=\"1437\" data-end=\"1570\">Currently, the clarification of the situation regarding legal disputes, in particular, could support a re-evaluation of the stock.<\/li><\/ul><p> <\/p><ul><li data-start=\"1437\" data-end=\"1570\">The strategic separation of the US glyphosate business into the new subsidiary &#8220;Ruveon&#8221; represents another important step toward reducing legal and business risks. This will create a clearer organizational separation between the operational Crop Science business and the legal disputes. In the long term, this could increase transparency, improve the risk profile, and support a re-rating of the Bayer share.  <\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-867af8c elementor-widget elementor-widget-text-editor\" data-id=\"867af8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5 aria-level=\"3\"><span class=\"TextRun SCXW222781350 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222781350 BCX4\">MUMAK.me Assessment Phase 3: Positive = 1 MUMAK<\/span><\/span><span class=\"EOP SCXW222781350 BCX4\" data-ccp-props=\"{}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd49fda e-con e-atomic-element e-div-block-base e-dd49fda-d86ffc1 \" data-id=\"dd49fda\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"dd49fda\" data-e-type=\"e-div-block\" data-id=\"dd49fda\">\n    <div class=\"elementor-element elementor-element-0f86229 e-con e-atomic-element e-div-block-base e-0f86229-1b023f1 \" data-id=\"0f86229\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"0f86229\" data-e-type=\"e-div-block\" data-id=\"0f86229\">\n    \t\t\t<div class=\"e-b8bc0af-3fb15aa e-svg-base\" data-interaction-id=\"b8bc0af\" data-e-type=\"widget\" data-id=\"b8bc0af\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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Sentiment is supported by operational improvements, progress in restructuring, and positive analyst assessments. <\/span><span data-ccp-props=\"{}\"> <\/span><\/p><h4 aria-level=\"2\"><span data-contrast=\"none\">Key Takeaway<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><ul><li class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1047\" data-end=\"1313\">After the first quarter, Bayer confirmed its full-year outlook. Revenue came in at \u20ac13.4 billion, while EBITDA before special items rose by 9% to \u20ac4.45 billion. Group net income improved to \u20ac2.76 billion.  <\/li><\/ul><p> <\/p><ul><li class=\"PDq2pG_selectionAnchorContainer\" data-start=\"1047\" data-end=\"1313\">At the end of June, Bayer achieved a major legal success before the US Supreme Court. The Court ruled 7-2 in Bayer\u2019s favor, significantly strengthening the company\u2019s position in the glyphosate proceedings. The decision is likely to rule out a large share of future &#8220;failure-to-warn&#8221; lawsuits and materially improves the chances of a final settlement of the remaining legal disputes.  <\/li><\/ul><p> <\/p><ul><li data-start=\"1047\" data-end=\"1313\">In early July, Bayer also announced that it will carve out the US glyphosate business into the new subsidiary &#8220;Ruveon&#8221;. Going forward, the company will take over production, pricing, and logistics for Roundup in the US. This organizational separation could improve the risk profile and, in the long term, opens up additional strategic options for the Group.  <\/li><\/ul><p> <\/p><ul><li data-start=\"1047\" data-end=\"1313\">Analysts remain largely positive and see further upside potential following the latest developments.<\/li><\/ul><h5> <\/h5><h5><span class=\"TextRun SCXW196063130 BCX4\" lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW196063130 BCX4\" data-ccp-parastyle=\"heading 3\">Analyst Consensus<\/span><\/span><span class=\"EOP SCXW196063130 BCX4\" data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3193062 elementor-widget elementor-widget-Table\" data-id=\"3193062\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   ><\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"\"   class=\"elementor-repeater-item-12cb466 td-content-type-default\" ><b>Average Recommendation<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-e2f92fe td-content-type-default\" ><b>OUTPERFORM<\/b>\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Number of Analysts <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-f98ac57 td-content-type-default\" >18<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-bba0bf7 td-content-type-default\" ><b>Average Price Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-35f1c12 td-content-type-default\" >~52 EUR  \n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e9b18d8 td-content-type-default\" ><b>Upside to Average Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-19a0849 td-content-type-default\" >approx. +6%<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-91165f8 td-content-type-default\" ><b>Upper Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-8833fb8 td-content-type-default\" >EUR 65.00  \n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-85848b8 td-content-type-default\" ><b>Lower Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >EUR 40.00  \n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d8310e elementor-widget elementor-widget-text-editor\" data-id=\"6d8310e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><i><span data-contrast=\"none\">Source: MarketScreener, retrieved in July 2026.<\/span><\/i><span data-ccp-props=\"{}\"> <\/span><\/p><p aria-level=\"3\"><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Interesting Fact<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><p>With the US Supreme Court\u2019s 7-2 ruling, Bayer achieved its most important legal success since the Monsanto acquisition. Shortly thereafter, the company announced the carve-out of the US Roundup business into the new subsidiary &#8220;Ruveon&#8221;. Many analysts see this as an important step to limit legal risks and a potential starting point for a strategic realignment or a later break-up of the Group.  <\/p><p> <\/p><p><b><span data-contrast=\"none\">MUMAK.me Evaluation Phase 4: Positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5dfd83f e-con e-atomic-element e-div-block-base e-5dfd83f-f4506c6 \" data-id=\"5dfd83f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"5dfd83f\" data-e-type=\"e-div-block\" data-id=\"5dfd83f\">\n    <div class=\"elementor-element elementor-element-70ad632 e-con e-atomic-element e-div-block-base e-70ad632-238b44d \" data-id=\"70ad632\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"70ad632\" data-e-type=\"e-div-block\" data-id=\"70ad632\">\n    \t\t\t<div class=\"e-b4b5b73-f8e43b2 e-svg-base\" data-interaction-id=\"b4b5b73\" data-e-type=\"widget\" data-id=\"b4b5b73\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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After a multi-month consolidation between approximately \u20ac34 and \u20ac49, the stock has now successfully broken out above its previous annual high. This has overcome a significant chart technical resistance and simultaneously marked a new multi-year high. The long-term uptrend since summer 2025 has been impressively confirmed and significantly accelerated.   <\/span><\/span><span class=\"EOP Selected SCXW172635746 BCX4\" data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><h4 aria-level=\"2\"><span data-contrast=\"none\">Key Takeaway<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"34\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The breakout above the resistance at <\/span><b><span data-contrast=\"auto\">\u20ac49.30<\/span><\/b><span data-contrast=\"auto\"> represents a strong technical buy signal.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"34\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">The multi-month consolidation has been resolved upwards and should now serve as the basis for the next upward impulse.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0ae\" data-font=\"Symbol\" data-listid=\"34\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0ae\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">The long-term uptrend remains fully intact and has even accelerated recently.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><h5><span class=\"TextRun SCXW200980025 BCX4\" lang=\"DE-AT\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW200980025 BCX4\" data-ccp-parastyle=\"heading 3\">Development in recent weeks\/months<\/span><\/span><span class=\"EOP SCXW200980025 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":0,\"335551620\":0,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"1d329ce\"\n\t><img fetchpriority=\"high\" decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"1d329ce\" id=\"5625\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day.png\" width=\"1871\" height=\"1078\" srcset=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day.png 1871w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day-300x173.png 300w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day-1024x590.png 1024w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day-768x442.png 768w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/07\/BAYN-1-day-1536x885.png 1536w\" alt=\"\"\/>\t<\/a>\t\t\t\t<div class=\"elementor-element elementor-element-8039a02 elementor-widget elementor-widget-text-editor\" data-id=\"8039a02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5><span data-contrast=\"auto\">RSI (14)<\/span> <span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/h5><p><b><span data-contrast=\"auto\">Clearly positive<\/span><\/b><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Current RSI: approx. <\/span><b><span data-contrast=\"auto\">84<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Stock is in overbought territory<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"38\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Strong momentum confirms the breakout<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Interpretation:<\/span><\/b><span data-contrast=\"auto\"> Short-term overbought and thus susceptible to minor profit-taking. However, in strong trend phases, a high RSI can persist for a longer period and is often an expression of exceptional buying power.<\/span><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"3\"><span data-contrast=\"auto\">MACD (12\/26\/9)<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335551550\":0,\"335551620\":0,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><p><b><span data-contrast=\"auto\">Very positive<\/span><\/b><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"39\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">MACD well above the signal line<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"39\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">MACD continues to rise<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"39\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Momentum accelerates<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Interpretation:<\/span><\/b><span data-contrast=\"auto\"> Strong buy signal. The MACD confirms the breakout and continues to signal increasing upward momentum.<\/span><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"3\"><span data-contrast=\"auto\">Bollinger Bands (20)<\/span><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335551550\":0,\"335551620\":0,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><p><b><span data-contrast=\"auto\">Very bullish<\/span><\/b><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"40\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Price is trading above the upper Bollinger Band<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"40\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Bands open significantly<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"40\" data-list-defn-props=\"{\"335552541\":1,\"335559683\":0,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Volatility increases with the breakout<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":0,\"335551620\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><b><span data-contrast=\"auto\">Interpretation:<\/span><\/b><span data-contrast=\"auto\"> The breakout occurs with high momentum. A short-term technical breather may occur, but as long as the breakout above \u20ac49.30 is defended, the chart picture remains positive for us.<\/span><span data-ccp-props=\"{\"335551550\":0,\"335551620\":0}\"> <\/span><\/p><p> <\/p><p><b><span data-contrast=\"none\">MUMAK.me Assessment Phase 5: Positive = 1 MUMAK<\/span><\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fd6a84e e-con e-atomic-element e-div-block-base e-fd6a84e-1d82a61 \" data-id=\"fd6a84e\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"fd6a84e\" data-e-type=\"e-div-block\" data-id=\"fd6a84e\">\n    <div class=\"elementor-element elementor-element-27b0ff2 e-con e-atomic-element e-div-block-base e-27b0ff2-bec755f \" data-id=\"27b0ff2\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"27b0ff2\" data-e-type=\"e-div-block\" data-id=\"27b0ff2\">\n    \t\t\t<div class=\"e-162921c-93f56d1 e-svg-base\" data-interaction-id=\"162921c\" data-e-type=\"widget\" data-id=\"162921c\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-e7e943f e-con e-atomic-element e-div-block-base e-e7e943f-d23b8df \" data-id=\"e7e943f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"e7e943f\" data-e-type=\"e-div-block\" data-id=\"e7e943f\">\n    \t\t\t<h4 data-interaction-id=\"c6ebb1b\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"c6ebb1b\">Bayer AG<\/h4>\n\t\t<div class=\"elementor-element elementor-element-be86ed4 e-con e-atomic-element e-div-block-base e-be86ed4-cde1a61 \" data-id=\"be86ed4\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"be86ed4\" data-e-type=\"e-div-block\" data-id=\"be86ed4\">\n    \t\t\t<div class=\"e-bc3c677-f664bd2 e-svg-base\" data-interaction-id=\"bc3c677\" data-e-type=\"widget\" data-id=\"bc3c677\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" 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data-interaction-id=\"536e156\" class=\"e-536e156-382c376 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"536e156\">Technical Analysis Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-afade06 elementor-widget elementor-widget-text-editor\" data-id=\"afade06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5 aria-level=\"2\"><b><span data-contrast=\"none\">What speaks <\/span><\/b><b><span data-contrast=\"none\">for Bayer?<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><ul><li><b><span data-contrast=\"none\">Strong long-term demand factors<\/span><\/b><span data-contrast=\"none\"> in healthcare and agriculture<\/span><\/li><li><b><span data-contrast=\"none\">Operational improvements<\/span><\/b><span data-contrast=\"none\"> and increasing profitability<\/span><\/li><li><b><span data-contrast=\"none\">Leading market positions<\/span><\/b><span data-contrast=\"none\"> in pharma, consumer health, seeds, and crop protection<\/span><\/li><li>Significantly<strong data-start=\"2903\" data-end=\"2986\"> reduced legal risk <\/strong>following the landmark ruling<strong data-start=\"2903\" data-end=\"2986\"> by the US Supreme Court<\/strong><\/li><li>Strategic carve-out of the <strong data-start=\"3113\" data-end=\"3250\">US Roundup business <\/strong>increases transparency and opens up additional long-term value creation potential<\/li><\/ul><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"2\"><b><span data-contrast=\"none\">What are the risks?<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h5><ul><li><b><span data-contrast=\"none\">Legal disputes related to glyphosate<\/span><\/b><\/li><li><b><span data-contrast=\"none\">High debt<\/span><\/b><\/li><li><b><span data-contrast=\"none\">Regulatory pressure<\/span><\/b><span data-contrast=\"none\"> and increasing environmental requirements<\/span><\/li><li><b><span data-contrast=\"none\">Cash flow burden<\/span><\/b><span data-contrast=\"none\"> due to settlement payments and restructuring measures<\/span><\/li><li><b><span data-contrast=\"none\">Patent expirations<\/span><\/b><span data-contrast=\"none\"> and increasing price pressure in the healthcare sector<\/span><span data-ccp-props=\"{}\"> <\/span><\/li><\/ul><p><span data-ccp-props=\"{}\"> <\/span><\/p><h5 aria-level=\"2\"><b><span data-contrast=\"none\">What we are watching<\/span><\/b><\/h5><ul><li><span style=\"font-size: 16px;\" data-contrast=\"none\">Development of <\/span><b style=\"font-size: 16px;\"><span data-contrast=\"none\">order intake and revenue<\/span><\/b><span style=\"font-size: 16px;\" data-contrast=\"none\"> in 2026<\/span><\/li><li><span data-contrast=\"none\">Development of <\/span><b><span data-contrast=\"none\">profit margins<\/span><\/b><\/li><li><b><span data-contrast=\"none\">Free operating cash flow<\/span><\/b><span data-contrast=\"none\"> compared to company forecast<\/span><\/li><li><span data-contrast=\"none\">Progress in <\/span><b><span data-contrast=\"none\">legal disputes<\/span><\/b><span data-contrast=\"none\"> and the <\/span><b><span data-contrast=\"none\">group&#8217;s restructuring<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559685\":0,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-ccp-props=\"{}\"> <\/span><\/p><h2>Summary<\/h2><p data-start=\"1912\" data-end=\"2069\">The investment story of Bayer has improved significantly in recent weeks. In addition to operational recovery and rising profitability, the company achieved a decisive breakthrough in the glyphosate litigation with the landmark ruling by the US Supreme Court. The subsequent spin-off of the US Roundup business into the new subsidiary &#8220;Ruveon&#8221; reduces the complexity of the group and improves transparency for investors. Although legal risks and debt levels must continue to be monitored, a sustainable revaluation of the stock appears significantly more likely today than just a few months ago.   <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a3f9ae elementor-widget elementor-widget-text-editor\" data-id=\"2a3f9ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Rating According to the MUMAK Method<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0cb027 elementor-widget elementor-widget-Table\" data-id=\"e0cb027\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Category<\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Rating<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Category\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>Geopolitics<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>Industry<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-b92892f td-content-type-default\" >Neutral<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Fundamentals<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-9492819 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-6f870ed td-content-type-default\" ><b>News &amp; Sentiment<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-1c7f62f td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-ca1b684 td-content-type-default\" ><b>Technical Analysis<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-5f69e06 td-content-type-default\" >Positive<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11acf94 elementor-widget elementor-widget-text-editor\" data-id=\"11acf94\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Overall Rating<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b96ba47 e-con e-atomic-element e-div-block-base e-b96ba47-424a199 \" data-id=\"b96ba47\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"b96ba47\" data-e-type=\"e-div-block\" data-id=\"b96ba47\">\n    <div class=\"elementor-element elementor-element-ddb649c e-con e-atomic-element e-div-block-base e-ddb649c-a49cb36 \" data-id=\"ddb649c\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"ddb649c\" data-e-type=\"e-div-block\" data-id=\"ddb649c\">\n    \t\t\t<div class=\"e-a4018ef-1154e27 e-svg-base\" data-interaction-id=\"a4018ef\" data-e-type=\"widget\" data-id=\"a4018ef\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-bea1700 e-con e-atomic-element e-div-block-base e-bea1700-1cbdfae \" data-id=\"bea1700\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"bea1700\" data-e-type=\"e-div-block\" data-id=\"bea1700\">\n    \t\t\t<h4 data-interaction-id=\"6bac146\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"6bac146\">Bayer AG<\/h4>\n\t\t\t\t<div class=\"elementor-element elementor-element-316a010 elementor-widget elementor-widget-rating\" data-id=\"316a010\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"rating.default\">\n\t\t\t\t\t\t\t<div class=\"e-rating\" itemtype=\"https:\/\/schema.org\/Rating\" itemscope=\"\" itemprop=\"reviewRating\">\n\t\t\t<meta itemprop=\"worstRating\" content=\"0\">\n\t\t\t<meta itemprop=\"bestRating\" content=\"5\">\n\t\t\t<div class=\"e-rating-wrapper\" itemprop=\"ratingValue\" content=\"4\" role=\"img\" aria-label=\"Rated 4 out of 5\">\n\t\t\t\t\t\t\t<div class=\"e-icon\">\n\t\t\t\t<div class=\"e-icon-wrapper e-icon-marked\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" 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