Ontex Group
ONTEX.BR Micro CapConsumer Defensive · Household & Personal Products
Updated: Jul 6, 2026, 22:20 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
Ontex Group NV develops, produces, and sells baby, feminine, and adult care products in Belgium, the United Kingdom, Italy, the United States, France, Poland, and internationally. The company offers baby care products, such as baby diapers and pants, and wet wipes under the Moltex, Free Life, Baby Charm, Helen Harper, and Swimmies brands; and feminine care products, including sanitary towels, panty liners, and tampons under the ConfiDaily, SatinSense, All night protection, Libera Safe, 4-in-1 protection, Multi-liquid liner brand names. It also provides adult care products comprising adult pants and diapers, incontinence towels, and bed protection under the iD, SERENITY, lille, orizon, and Kylie, as well as Nefertiti brands. The company sells its products to consumers, retailers, and instit
Ontex Group Stock at a Glance
Ontex Group (ONTEX.BR) is currently trading at €2.38 with a market capitalization of $189.8M. The trailing P/E ratio stands at 11.9x, with a forward P/E of 3.53x. The 52-week range spans from €2.36 to €7.40; the current price is 67.8% below the yearly high. Year-over-year revenue growth stands at -6.7%.
💰 Dividend
Ontex Group currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
6 analysts rate Ontex Group (ONTEX.BR) on consensus: None. The average price target is €3.90, implying +63.87% from the current price. Analyst price targets range from €3.20 to €4.70.
Ontex Group: The Investment Case in Detail
Ontex Group (ONTEX.BR) operates in the Consumer Defensive — specifically Household & Personal Products — and is headquartered in Belgium. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
Our valuation screen flags the stock as undervalued relative to its fundamentals — multiples are running below where the cash flow profile would normally justify.
The Bear Case
Revenue is contracting at -6.7% year-over-year — until that trend reverses, valuation is exposed to further downgrades. Net margins remain negative, meaning every euro of revenue is still producing losses — the path to profitability is the central question for shareholders.
Valuation in Context
The EV/EBITDA multiple of 5.56x is below the historical equity-market average — strategic acquirers would find the cash-flow profile attractive at this level.
What to Watch Next
- The forward P/E of 3.53x is meaningfully below the trailing 11.9x — analysts expect earnings to step up; the next earnings release is the test.
- The price sits in the lower quartile of the 52-week range — value hunters often start scaling in around this zone if fundamentals hold.
- The analyst consensus price target implies 63.87% upside — if the next two quarters confirm the underlying thesis, target hikes typically follow.
Investment Thesis: Strengths & Weaknesses
- Currently flagged as undervalued
- Positive free cash flow
- –Revenue shrinking (-6.7% YoY)
- –Currently unprofitable
Technical Snapshot
Price is below both the 50- and 200-day moving averages, with 50d below 200d — a bearish picture (death-cross alignment).
Risk Profile
The data points to relatively defensive market behavior.
Trading Data
Related Stocks in the Same Sector
Ontex Group at 2.65 euros: Belgian private-label diaper maker at 0.22x book and forward P/E 3.8
The Real Story
Ontex is the largest private-label baby-diaper, feminine-care, and adult-incontinence manufacturer in Europe. If you have ever bought Aldi, Lidl, Carrefour, Tesco, or Walmart store-brand diapers, you have probably bought Ontex. Revenue 1.76 billion euros across baby, feminine, and adult-care segments, operating from Belgian-headquartered plants in Europe, Mexico, Turkey, and Australia.
The market has been crushing ONTEX because of three things: pulp and resin commodity cost spikes from 2021 to 2023 (compressed gross margins), the loss of large private-label contracts to lower-cost Turkish competitors, and a 2023 divestiture of the Mexican-Brazilian business at unfavorable terms. P/B 0.22, forward P/E 3.8 reflect deep skepticism. But trailing P/E 13.3 says current earnings are not zero — and the deleveraging plus pulp-cost normalization could unlock a multi-bagger if margins recover.
What Smart Money Thinks
Belgian family-office Sienna Capital (Frère group) has a meaningful stake. Activist Sterling Capital made a 2023 push for divestitures and got the Mexican-Brazilian sale done. No US 13F whale. Free float around 60 percent.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
📉 The 3 Real Bear Points
Valuation in Context
At 2.65 EUR with 0.20 EUR EPS the trailing P/E is 13.3 and forward P/E 3.8 on consensus 0.70 EUR forward EPS. P/B 0.22 is extreme; P/S 0.12 reflects low-margin business. EV/EBITDA 5.7 is reasonable on a recovering basis. The cheapness is real; the question is whether margin recovery materializes.
🗓️ Next 3 Catalyst Dates
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💬 Daniel's Take
ONTEX is a textbook European deep-value cyclical: real franchise, balance sheet not pretty, margin pressure that should mean-revert. Forward P/E 3.8 with credible pulp-cost normalization catalyst is asymmetric. The risk is that private-label-margin compression is structural rather than cyclical; the reward is multiple expansion plus dividend reinstatement. I size 0.5 to 1 percent in a deep-value sleeve and watch quarterly gross margins for catalyst confirmation.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
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