Carbios SAS (COOSF) Stock Analysis

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• A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Carbios SAS (COOSF) Materials & Commodity Exposure

Carbios SAS is a French green chemistry company pioneering industrial bioprocesses for polymer biodegradation and biorecycling. Specializing in enzymatic solutions for PLA-based single-use plastics and PET, it aims to transform plastic waste into valuable materials, positioning itself at the forefront of the circular economy within the specialty chemicals industry.

What Is the Investment Thesis for COOSF?

Carbios SAS presents an investment thesis centered on its pioneering enzymatic recycling and biodegradation technologies, which address the growing global demand for sustainable plastic solutions. The company's proprietary bioprocesses for PET and PLA offer a differentiated approach to plastic waste management, capable of transforming waste into virgin-quality materials, thereby enabling a true circular economy. The strategic development agreement with Novozymes for enzyme production is a significant catalyst, providing a pathway for industrial scaling and broader market adoption of its PET recycling technology. While the company currently exhibits a negative profit margin of -6626.8%, typical for a growth-stage entity heavily investing in R&D and infrastructure, its robust gross margin of 93.1% indicates strong unit economics and potential for profitability as operations scale and market penetration increases. The increasing regulatory pressure and consumer demand for eco-friendly alternatives create a substantial addressable market for Carbios' solutions, positioning it for long-term growth as these technologies mature and become more widely adopted across the plastics and packaging industries.

Based on FMP financials and quantitative analysis

COOSF Key Highlights

Carbios SAS maintains a market capitalization of $110M, reflecting its current valuation as a specialized green chemistry company.

• The company reported a gross margin of 93.1%, indicating strong profitability on its core product and service offerings before operating expenses.
• A profit margin of -6626.8% highlights Carbios' current operational phase, characterized by significant investments in research, development, and scaling of its innovative bioprocesses.
• Carbios' Beta of 1.43 suggests higher volatility compared to the broader market, which is common for companies in early-stage, high-growth sectors.
• The development agreement with Novozymes for enzyme production is a critical strategic partnership aimed at industrializing and scaling Carbios' enzymatic PET recycling technology.

Who Are COOSF's Competitors?

COOSF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.

What Are COOSF's Key Strengths?

Proprietary and innovative enzymatic bioprocesses for PET and PLA offer unique solutions to plastic waste.

• Strategic development agreement with Novozymes provides a pathway for industrial scaling and global reach.
• High gross margin of 93.1% suggests strong unit economics once operational scale is achieved.
• Addresses a critical and growing global need for sustainable plastic waste management.

What Are COOSF's Weaknesses?

Currently operating at a significant negative profit margin of -6626.8%, indicating heavy investment phase.

• Relatively small market capitalization ($110M) may limit access to large-scale capital compared to industry giants.
• Reliance on successful industrial scaling and commercialization of its technologies.
• Trades on the OTC market, which can imply lower liquidity and less stringent reporting requirements.

What Could Drive COOSF Stock Higher?

COOSF catalyst: Successful industrial scaling and commercialization of the PET enzymatic recycling plant, demonstrating operational efficiency and capacity.

• Progress and milestones achieved through the development agreement with Novozymes for enzyme production, indicating readiness for broader deployment.
• Securing new major partnerships or licensing agreements with global plastic producers or brand owners for its PET or PLA technologies.
• Expansion of its technology's application to additional types of plastic polymers, opening new market segments.
• Increasing global regulatory support and incentives for advanced plastic recycling and bio-based materials.

What Are the Key Risks for COOSF?

Financial-distress signal — its Altman Z-Score of 0.07 sits in the distress zone (elevated bankruptcy risk).

• Negative return on equity (-20.6%) — the business is not currently generating profit on shareholder capital.
• Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
• Challenges in scaling its enzymatic recycling technologies to industrial capacity efficiently and cost-effectively.
• The company's significant negative profit margin (-6626.8%) indicates a high cash burn rate, requiring continuous funding.
• Slower-than-anticipated market adoption of enzymatic recycling compared to traditional or other advanced methods.
• Intense competition within the specialty chemicals and recycling industries from established players and emerging technologies.
• Regulatory hurdles or changes in waste management policies that could impact the economic viability of its processes.

What Are the Growth Opportunities for COOSF?

• **Expansion of PET Enzymatic Recycling Technology:** Carbios' enzymatic recycling process for polyethylene terephthalate (PET) represents a significant growth opportunity. With the global PET market valued in the hundreds of billions of dollars and increasing pressure for circularity, the ability to convert PET waste into virgin-quality monomers offers substantial potential. The ongoing development agreement with Novozymes is crucial for scaling this technology to industrial levels, potentially unlocking licensing revenues and partnerships with major plastics producers and brand owners. As the technology matures and large-scale facilities come online, Carbios can capture a significant share of the advanced recycling market, which is driven by corporate sustainability goals and regulatory mandates for recycled content.
• **Further Development and Adoption of EVANESTO for PLA:** The EVANESTO enzymatic biodegradation solution for polylactic acid (PLA) based single-use plastics presents another key growth driver. PLA is a biosourced and biodegradable plastic, but its end-of-life management can be challenging. EVANESTO offers an accelerated and controlled biodegradation pathway, addressing a critical need for sustainable disposal solutions for this growing segment of bioplastics. As the market for compostable and biodegradable packaging expands, driven by consumer preference and bans on conventional single-use plastics, the demand for effective PLA management solutions like EVANESTO is expected to rise, creating opportunities for Carbios through direct sales or licensing to waste management companies and industrial composters.
• **Leveraging the Novozymes Partnership for Broader Market Reach:** The development agreement with Novozymes is a strategic asset that can significantly accelerate Carbios' market penetration. Novozymes' global reach, expertise in enzyme production, and established relationships within various industries can facilitate the industrialization and commercialization of Carbios' PET recycling enzymes on a much larger scale than Carbios could achieve independently. This partnership could lead to faster deployment of enzymatic recycling plants worldwide, broader adoption of the technology by major players in the plastics value chain, and potentially open doors to new applications or markets for Carbios' innovations, solidifying its position as a key technology provider in the circular plastics economy.
• **Geographic Expansion Beyond France:** While headquartered in France and with initial operations there, Carbios has indicated it exports its products. Expanding its footprint and licensing its technologies globally represents a substantial growth opportunity. The challenge of plastic waste is universal, and many countries are actively seeking advanced recycling solutions. By strategically partnering with local players or establishing joint ventures in key regions such as North America, Asia, and other parts of Europe, Carbios can tap into diverse waste streams and regulatory environments. This expansion would allow the company to address a larger portion of the global plastic waste problem and diversify its revenue streams, reducing reliance on a single market.
• **Innovation in Bioprocesses for New Polymers:** While current efforts focus on PET and PLA, the underlying enzymatic bioprocess platform developed by Carbios has the potential to be adapted for other challenging plastic polymers. Research and development into new enzymatic solutions for plastics like polypropylene (PP), polystyrene (PS), or polyurethanes (PU) could unlock vast new markets. Success in developing and commercializing bioprocesses for additional polymers would significantly broaden Carbios' addressable market and strengthen its competitive moat, positioning it as a comprehensive solution provider for various plastic waste streams. This ongoing innovation pipeline is crucial for long-term relevance and growth in the dynamic green chemistry sector.

What Threats Does COOSF Face?

• Competition from alternative advanced recycling technologies and traditional mechanical recycling methods.
• Risk of technological obsolescence or slower-than-anticipated market adoption of enzymatic processes.
• Regulatory changes or shifts in policy that could impact the economics or demand for its solutions.
• Challenges in securing sufficient plastic waste feedstock at competitive prices for large-scale operations.

What Are COOSF's Competitive Advantages?

• Proprietary enzymatic technology for PET and PLA recycling/biodegradation, offering unique performance advantages.
• Strategic development agreement with Novozymes, a global leader in biological solutions, for enzyme industrialization.
• Expertise in green chemistry and bioprocess engineering, creating high barriers to entry for competitors.
• Ability to produce virgin-quality monomers from plastic waste, differentiating from traditional mechanical recycling.

What Does COOSF Do?

Carbios SAS, incorporated in 2011 and headquartered in Saint-Beauzire, France, is a pioneering green chemistry company dedicated to developing industrial bioprocesses for the biodegradation and biorecycling of polymers. The company's core mission revolves around addressing plastic pollution through innovative biological solutions, distinguishing itself within the specialty chemicals industry by focusing on enzymatic technologies rather than traditional mechanical or thermochemical methods. Carbios has developed two primary technological platforms: one for the enzymatic biodegradation of polylactic acid (PLA) based single-use plastics, marketed under the name EVANESTO, and another for the enzymatic recycling of polyethylene terephthalate (PET). EVANESTO represents a significant advancement in managing PLA, a biosourced and biodegradable plastic polymer, by offering a solution that accelerates its natural breakdown. Concurrently, the company's enzymatic recycling process for PET aims to deconstruct PET plastic waste into its core monomers, which can then be repolymerized into virgin-quality plastic materials. This approach allows for the creation of a truly circular economy for PET, reducing reliance on virgin fossil resources and minimizing waste accumulation. Carbios SAS not only develops these cutting-edge technologies but also actively engages in the recycling of plastic waste into new plastic materials, demonstrating a full-cycle approach. The company's operations extend beyond France, with its products being exported to various markets. A key strategic development for Carbios is its development agreement with Novozymes, a global leader in biological solutions, specifically for the production of enzymes essential for the industrial-scale recycling of PET plastics and fibers. This partnership underscores Carbios' commitment to scaling its innovative bioprocesses and bringing its sustainable solutions to a broader global market, solidifying its position as a leader in bio-industrial solutions for polymer management.

What Products and Services Does COOSF Offer?

• Develops industrial bioprocesses for the biodegradation of polylactic acid (PLA) based single-use plastics.
• Produces EVANESTO, an enzymatic biodegradation solution specifically designed for PLA.
• Engages in the enzymatic recycling of polyethylene terephthalate (PET) plastic waste.
• Recycles plastic waste into new, high-quality plastic materials using biological methods.
• Offers PLA, a biosourced and biodegradable plastic polymer, as part of its sustainable solutions.
• Conducts research and development in green chemistry to advance polymer management.
• Exports its proprietary products and technologies to international markets.
• Collaborates with Novozymes for the industrial production of enzymes critical for PET recycling.

How Does COOSF Make Money?

• Licensing its proprietary enzymatic recycling and biodegradation technologies to industrial partners.
• Sale of specialized enzymes developed for its bioprocesses, potentially through partnerships like Novozymes.
• Sale of recycled plastic monomers or polymers derived from its enzymatic processes to manufacturers.
• Providing solutions for waste management and industrial composting through products like EVANESTO.

What Industry Does COOSF Operate In?

Carbios SAS operates within the specialty chemicals industry, a segment of the broader Basic Materials sector, with a specific focus on green chemistry and advanced polymer recycling. This industry is currently undergoing a significant transformation driven by increasing environmental regulations, consumer demand for sustainable products, and the global imperative to reduce plastic waste. Carbios distinguishes itself by pioneering enzymatic bioprocesses for plastic biodegradation and recycling, offering an alternative to conventional mechanical and chemical recycling methods. The competitive landscape includes traditional recyclers, other chemical companies developing advanced recycling technologies, and bio-based plastics producers. Carbios' unique enzymatic approach positions it to capture market share in the rapidly expanding circular economy for plastics, particularly for challenging waste streams like PET and PLA, where its technology promises higher purity and efficiency compared to existing solutions. The market for sustainable plastics and recycling technologies is projected for substantial growth, aligning with Carbios' core business model.

Who Are COOSF's Key Customers?

• Plastic manufacturers and resin producers seeking sustainable raw materials.
• Packaging companies looking for recycled content or biodegradable solutions.
• Waste management and recycling companies aiming for advanced processing capabilities.
• Brand owners committed to circular economy principles and reducing their environmental footprint.

Company Profile

Carbios SAS operates in the Chemicals - Specialty industry within the Basic Materials sector. It is headquartered in Clermont-Ferrand, FR. The company is led by CEO Benoît Grenot. COOSF has traded publicly since 2019.

Carbios SAS Financial Trajectory

Carbios SAS (COOSF) reported $2.6M in revenue for Q4 FY2025, reflecting 397.1% growth compared to the prior quarter. The company recorded a net loss of $10.7M, with diluted EPS of $-0.63. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this micro-cap Basic Materials company. Across the four most recent quarters, COOSF averaged $-0.97 in diluted EPS.

How Carbios SAS Is Valued

Carbios SAS carries a market capitalization of $110M, placing it in the micro-cap category. Relative to its peer group, COOSF's quantitative score of 69/100 is above the peer average of 53/100.

Return on equity for Carbios SAS stands at -20.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -16.0%, showing how much profit it generates from its asset base. Its free cash flow yield is -71.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 3.84 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -43.9%, the inverse of the P/E and a quick read on earnings relative to price.

Carbios SAS's Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 0.07 places it in the distress zone, a signal of elevated financial risk.

Wall Street analysts project Carbios SAS revenue of about $5.9M for fiscal 2026, with EPS near $-1.11.

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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