Bayer (BAYN.DE): analysis in plain words
Is Bayer cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Bayer (BAYN.DE) is listed on the Frankfurt Stock Exchange (Xetra) and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Bayer according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Bayer (BAYN.DE) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €54.24 | Last price on November 4, 2026 |
| P/E ratio (TTM) | N/A | Price over earnings per share |
| Revenue growth | +1.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | -3.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.3x | Years of operating profit to repay debt |
| Dividend yield | 0.22% | Annual dividend over price |
| Market cap | €53.3 billion | What the stock market values it at |
The Bayer figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any BAYN.DE figure that is not available shows as N/A: we do not estimate it.
How Bayer makes money
Bayer reports three divisions: Crop Science, its largest, selling seeds (Dekalb) and crop protection to farmers; Pharmaceuticals, with prescription drugs such as Xarelto, Eylea and Nubeqa; and Consumer Health, with over-the-counter brands like Aspirin, Bepanthen and Claritin. It sells worldwide, with North America and Europe as its main markets.
Over the last 12 months, Bayer brought in revenue of €45.4 billion. For every 100 it sells, Bayer keeps 60.5 after the direct cost of what it sells (gross margin) and 9.2 after all operating costs (operating margin). With 87,830 full-time employees, that is about €517,000 of revenue per employee.
Bayer against its sector
To know whether a Bayer figure is high or low you have to put it next to similar companies. This table compares Bayer with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Bayer | healthcare and pharma median |
|---|---|---|
| Revenue growth | +1.2% | +8.3% (33) |
| Net margin | -3.8% | 14.9% (33) |
| Dividend yield | 0.22% | 1.52% (33) |
| Net debt / EBITDA | 3.3x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Bayer grows more slowly, earns a thinner margin and pays a lower dividend yield. By size, Bayer ranks number 2 of 5 healthcare and pharma companies quoted in EUR on Fintols.
The bull case for Bayer
These are the strengths in the Bayer figures as of November 4, 2026:
- Bayer generates real cash: €6.6 billion of free cash flow over 12 months, 12.3% of its stock market value.
The main risk for Bayer
Bayer is losing money: its net margin over the last 12 months is -3.8%, so it spends more than it brings in. Until it turns a profit it relies on its cash or on raising money.
On top of that: debt is heavy: Bayer carries net debt equal to 3.3x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of healthcare and pharma, Bayer is exposed to a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Bayer
Is it a good time to buy Bayer stock?
Fintols does not tell you whether to buy or sell Bayer, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Bayer stock trades at €54.24, 0% below its 52-week high (€54.24) and 110% above its low (€25.78). With Bayer, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Bayer pay a dividend?
Yes. As of November 4, 2026, Bayer pays €0.11 per share a year, which at today's price is a yield of 0.22%. It uses 162% of its profit to pay it, more than it earns, which cannot last forever. Its average dividend yield over the last five years is 0.64%. The healthcare and pharma median on Fintols is 1.52%.
Is Bayer stock expensive?
Bayer has no meaningful P/E as of November 4, 2026 because its last 12 months of earnings are negative or close to zero, so that yardstick cannot tell you whether it is expensive. Including its debt, Bayer is valued at 8.3x its EBITDA (EV/EBITDA). A high P/E alone does not make Bayer expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Bayer's competitors?
On Fintols we compare Bayer with argenx, Grifols and Laboratorios Rovi, which are also in healthcare and pharma. As of November 4, 2026, argenx is worth €51.3 billion and trades on a P/E of 32.8; Grifols is worth €7.6 billion and trades on a P/E of 15.8; Laboratorios Rovi is worth €3.3 billion and trades on a P/E of 17.6. Each has a side-by-side comparison with Bayer below.
Bayer competitors
- argenx (ARGX.BR) analysis · Bayer vs argenx comparison
- Grifols (GRF) analysis · Bayer vs Grifols comparison
- Laboratorios Rovi (ROVI) analysis · Bayer vs Laboratorios Rovi comparison
To understand Bayer better
More companies like Bayer: healthcare and pharma stocks. Open the full BAYN.DE analysis with its valuation and scenarios. Educational content about Bayer, not investment advice.