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    Campine (ENXTBR:CAMB) Stock Faces Revenue Cooling Despite Low 5.4x P/E

    Simply Wall St·09/03/2026 22:32:24
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    Campine stock closed at €185.50 after a rough three months where the share price fell about 24%. Yet the latest half year numbers landed with a different message. Earnings per share in H1 2026 came in at €20.62 on net income of €30.94m, while the trailing P/E sits at about 5.4x compared with a much higher peer and industry average. The sentiment reckoning for investors now is simple: the market has been pricing in worry, while the headline from these results is a solid profit base on a low multiple.

    Is Campine trading at a genuine bargain on a 5.4x P/E, or does the weaker recent earnings momentum justify this discount? See how the current share price compares with our valuation analysis for Campine

    H1 2026 Earnings Summary

    • Revenue (H1 2026 vs. H1 2025): €298.195m vs. €383.923m (revenue declined 22.3%)
    • Net Income (Excl. Extra Items, H1 2026 vs. H1 2025): €30.936m vs. €36.288m (net income declined 14.7%)
    • Basic EPS (H1 2026 vs. H1 2025): €20.624 vs. €24.192 (EPS declined 14.8%)
    • Trailing Net Profit Margin (TTM vs. prior year): 7.5% vs. 8.2% (margin softened by 0.7 percentage points)

    Prefer visual charts instead of scrolling through dense earnings tables and footnotes? See Campine’s full financial picture, including a clear view of its valuation, in the interactive company report for Campine.

    ENXTBR:CAMB Trailing 12-Month Revenue & Expenses Breakdown as at Sep 2026
    ENXTBR:CAMB Trailing 12-Month Revenue & Expenses Breakdown as at Sep 2026

    Campine earnings, profit quality and the bullish angle

    For investors leaning positive on Campine, the latest half year keeps the profit story intact even as the cycle cools. Revenue declined 22.3%, yet net income excluding extra items fell a smaller 14.7%. EPS moved in the same range. That points to some cost discipline and pricing power in the recycling and specialty chemicals mix. The trailing net margin eased from 8.2% to 7.5% but stayed clearly profitable, which supports the idea that the business model still converts a reasonable share of sales into earnings.

    Testing the Campine bear case against softer revenue

    The bearish angle focuses on cyclicality and regulatory exposure, and the numbers give that view some backing. A 22.3% revenue decline paired with margin slippage from 8.2% to 7.5% shows that weaker volumes or pricing are already biting. EPS fell 14.8%, which is meaningful for a small industrial stock. Share price performance has also been weak with declines over 7, 30 and 90 days. For now, the concern that Campine sits in a tough, cyclical pocket of chemicals and circular metals is reflected in both earnings direction and recent returns.

    After a 24% share price decline and softer revenue, you may wonder if this is only the first warning sign. Review our risk analysis for Campine which shows 2 important warning signs

    Stay Ahead With Simply Wall St

    If the mix of a 24% share price decline and a low 5.4x P/E has put Campine on your radar, register for free with Simply Wall St and add it to a Watchlist to track price against fair value and watch for a more attractive entry point. Once you have taken a position, use the Portfolio Command Center to cut through market noise and focus on the key earnings and valuation updates that matter for your holdings. For a longer term view, tap into the Community to see how other investors are thinking about Campine and similar stocks. This way you can surface potential catalysts and risks early and give yourself a better chance of staying ahead of the market.

    Seeking Alternatives Beyond Campine Stock

    Fresh ideas move fast. Some stocks are building breakout momentum while others drop back before the crowd even notices. Scan these under the radar picks while it matters and act now.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.