Novozymes' dominance of the oligopolistic industrial enzyme market results in a wide moat.
We may lower our DKK 265 per share fair value estimate for Novozymes to account for higher-than-expected pricing pressure in key business units. Management lowered its guidance for full-year sales growth to 0%-1% from 1%-3% to account for stagnant growth in household-care and food and beverages segments. Our previous 2016 sales forecast included 2.7% of reported growth from the year before. We believe Novozymes’ extensive patent portfolio has allowed the company to become the leading player in t...Novozymes is a biotechnology company based in Denmark. Co.'s business operations are centered on the development of industrial enzymes, microorganisms, and biopharmaceutical ingredients. Co. provides business-to-business biological solutions used in the production of numerous products such as biofuel, detergents, feed, and crops. Co.'s business operations are organized along two segments: the Enzyme Business which is divided into four areas, providing industrial enzymes for household care, food & beverages, bioenergy, and feed & other technical; and the BioBusiness which is home to Co.'s microorganisms and biopharmaceutical ingredients.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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