Barry Callebaut AG

BARN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Barry Callebaut: We Lowered Our Fair Value Estimate on Cocoa Supply Shock

Diana Radu

Jul 17, 2025

We are transferring coverage of Barry Callebaut, the leading global manufacturer of cocoa and chocolate ingredients. The pronounced volatility in cocoa prices over the past 18 months has drained free cash flow generation and pressured credit metrics and earnings.

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Barry Callebaut AG

Barry Callebaut: We Lowered Our Fair Value Estimate on Cocoa Supply Shock

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