Danone S.A. (DANOY) Stock Price & How to Invest
Last updated October 2026
Short answer
DANOY is the US over-the-counter ADR for Danone, the French maker of Activia yogurt, Evian water, Alpro plant-based drinks and Aptamil infant formula, and each ADR represents one-fifth of a Paris-listed share. It is a slow-and-steady consumer staples name whose story right now is health-focused nutrition, a ~3.8% dividend yield and a recovery from the January 2026 infant formula recall.
DANOY stock price
As of 2026-10-16, Danone S.A. (DANOY) last closed at $13.80, down 24.2% over the past year. Over the past 52 weeks it has traded between $12.88 and $18.57.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Danone S.A.'s investor relations page. Walnut is informational, not investment advice.
What does Danone S.A. (DANOY) do?
Danone S.A. is a Paris-based packaged food and beverage group with roughly €27 billion in annual sales, sold in more than 120 countries. It runs three businesses. Essential Dairy and Plant-Based is the largest, with brands such as Activia, Danone, Oikos, YoPRO, Silk, Alpro and International Delight coffee creamers. Specialized Nutrition covers infant formula (Aptamil, Nutrilon) and medical nutrition sold under Nutricia to hospitals, pharmacies and patients with specific dietary needs, and it is the group's highest-margin segment. Waters includes Evian, Volvic, Aqua in Indonesia and Mizone in China. Under CEO Antoine de Saint-Affrique, who took over in 2021 after a period of activist pressure and weak growth, Danone has pruned slower brands, exited Russia, and bought into faster-growing health niches: a majority stake in Kate Farms (plant-based tube-feeding and protein shakes), The Akkermansia Company (gut-health supplements) and, completed on September 4, 2026, Huel, the UK complete-nutrition brand bought for roughly €1 billion.
The investment picture is that of a mature staple that has regained its footing after years of lagging peers. Like-for-like sales grew ~4.5% in 2025, split between ~2.7% volume and mix and ~1.8% price, and ~3.5% in the first half of 2026, when a European infant formula recall weighed on the first quarter (~2.7%) before the second quarter rebounded (~4.2%). The recurring operating margin sits around 13.3%, free cash flow was ~€2.8 billion in 2025, and management guides to 3% to 5% like-for-like growth for 2026 with recurring operating income growing faster than sales. US investors usually hold Danone through the DANOY sponsored ADR, which trades over the counter and closed at ~$13.63 on October 15, 2026, near the low end of its 52-week range of ~$12.83 to ~$18.63 and down from around $15.5 in late summer. Its price moves with both the Paris share and the euro to dollar exchange rate. The shares slipped ~4% after first-half results in late July as China growth slowed to ~3.6%, and no single company announcement in September or early October explains the further decline. The next checkpoint is third-quarter sales on October 28, 2026, the first quarter to include Huel and an Argentina joint venture with Arcor.
What's driving Danone S.A. (DANOY)?
1. Health-focused portfolio and protein
Danone has leaned its brands toward gut health, protein and medical nutrition, categories that have grown faster than packaged food overall as consumers, including users of GLP-1 weight-loss drugs, look for higher-protein foods. High-protein yogurts like Oikos and YoPRO have been a standout in North America, and Alpro launched a ready-to-drink meal in January 2026. The Huel deal adds a complete-nutrition brand with an international runway, and Barclays called it strategically sound while noting the price was full.
2. Specialized Nutrition recovery after the recall
The January 2026 recall of select infant formula batches in Europe, linked to cereulide contamination in an ingredient from a Thai supplier, hit sentiment and slowed first-quarter growth to ~2.7%. Second-quarter like-for-like growth of ~4.2% suggested the formula and medical nutrition business was recovering, helped as well by the easing of supply disruptions tied to the conflict involving Iran. Because Specialized Nutrition carries the group's richest margins, whether that recovery holds through the second half matters more for profit than its share of sales alone suggests.
3. Volume-led growth with steady margins
Unlike many staples peers that leaned almost entirely on price increases in 2023 and 2024, Danone has been growing with positive volume and mix (~1.7% in the first half of 2026) alongside ~1.8% pricing. Productivity programs helped the recurring operating margin edge up ~12 basis points to ~13.3% in the first half despite recall costs and early input-cost inflation. Management's medium-term framework calls for recurring operating income to grow faster than sales, which depends on that mix of volume and efficiency continuing.
4. Bolt-on M&A and portfolio pruning
Management continues to buy small, fast-growing health brands and exit weaker or riskier ones, as with the Russia exit and the joint venture with Arcor in Argentina. Kate Farms and The Akkermansia Company moved into like-for-like figures from the third quarter of 2026, so their growth now counts toward the organic number rather than scope. These deals reshape the growth profile over time, although analysts have described prices like Huel's, at more than 20 times EBITDA, as full, and J.P. Morgan expected a limited earnings effect in the first year.
What are the risks to Danone S.A. (DANOY)?
Product-safety events are the most acute risk for a company that sells infant formula and medical nutrition, as the 2026 recall showed: the ADR fell ~8% on January 21 and ~2.7% more two days later. Several US plaintiff firms, including Rosen and Pomerantz, then announced investigations on behalf of DANOY holders, although no filed securities class action had surfaced in public reporting as of this writing. China, a key market for formula and for Mizone water, faces a falling birth rate and a slower economy, while the Waters business is sensitive to weather, plastics regulation and scrutiny of mineral water treatment practices in France. Because DANOY is priced in dollars while Danone reports in euros, a stronger dollar lowers the ADR's value and its dividend even when the underlying business is unchanged, and currency already turned 2025's ~4.5% organic growth into a slight reported decline. Dividends are paid once a year and face French withholding tax (25% by default, reducible to the 15% treaty rate with paperwork), and the ADR trades over the counter with thinner volume and wider spreads than the Euronext Paris listing.
What is the Danone S.A. (DANOY) forecast?
4 analysts publish price targets on DANOY, averaging $18.52 against a $13.80 price as of October 2026, or +34.2%. The published targets run from $16.50 to $21.10, a narrow spread, and the ratings split 3 buy, 1 hold, 0 sell. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full DANOY forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is DANOY a buy or a sell?
We give no verdict on Danone S.A.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. Health-focused portfolio and protein. Danone has leaned its brands toward gut health, protein and medical nutrition, categories that have grown faster than packaged food overall as consumers, including users of GLP-1 weight-loss drugs, look for higher-protein foods. The most optimistic published target, $21.10, assumes this works close to its best case.
The case against. Product-safety events are the most acute risk for a company that sells infant formula and medical nutrition, as the 2026 recall showed: the ADR fell ~8% on January 21 and ~2.7% more two days later. The most pessimistic target, $16.50, is roughly what DANOY is worth if this bites instead.
Read the full bull and bear case on DANOY, including what would have to change to break either one. Walnut is not an investment adviser.
How is Danone S.A. (DANOY) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Danone S.A.'s investor relations page or your broker.
- Revenue (TTM): ~€27.4 billion
- Like-for-like sales growth (H1 2026): ~3.5%
- Recurring operating margin (H1 2026): ~13.3%
- Recurring EPS (FY 2025): ~€3.80 per share (~€0.76 per ADR)
- Market capitalization: ~$44 to $46 billion
- Dividend (FY 2025, paid 2026): ~€2.25 per share (~€0.45 per ADR), yield ~3.8%
At the October 15, 2026 close of ~$13.63 (equal to ~$68 per ordinary share), DANOY trades at roughly 15 to 16 times recurring earnings and around 20 to 21 times reported earnings, which were reduced by ~€725 million of non-recurring charges in 2025 that cut reported net income ~9.7% to ~€1.8 billion even as recurring net income rose ~5% to ~€2.5 billion. That multiple sits at or slightly below large European staples peers such as Nestle and Unilever, after a decline from around $15.5 in late summer. Free cash flow of ~€2.8 billion in 2025 comfortably covered the ~€1.5 billion dividend bill, leaving room for bolt-on deals like Huel. The first-half 2026 recurring EPS of ~€1.92 was up only ~0.9%, reflecting recall costs and currency, so the second half carries most of the year's earnings growth.
Who competes with Danone S.A. (DANOY)?
Global packaged food majors
Nestle (NSRGY), Unilever (UL), General Mills (GIS) and the privately held Lactalis compete with Danone for shelf space in dairy, nutrition and snacks. Nestle is its most direct rival across infant formula, medical nutrition and bottled water, and the two are often compared on organic growth and margin.
What stocks are similar to Danone S.A. (DANOY)?
Other names that sit close to DANOY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in Danone S.A. (DANOY)
There are three common ways to get DANOY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so DANOY sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where DANOY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Danone S.A. (DANOY)
DANOY gives US investors a dollar-quoted slice of a defensive, health-tilted food company growing sales in the low-to-mid single digits, with the euro, French dividend tax and recall fallout as the main things to watch.
More on Danone S.A. (DANOY)
Whether DANOY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is DANOY a buy or a sell?, and where the stock could go from here in the DANOY stock forecast.
For income investors, whether DANOY pays a dividend and how the payout looks is covered in does DANOY pay a dividend? And to weigh DANOY against a peer, read the full side-by-side comparisons: DANOY vs UL and DANOY vs GIS.
Wondering how DANOY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Danone S.A. with AI
Connect the broker you already use and ask Walnut's AI how DANOY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is DANOY?
+
DANOY is the ticker for Danone's sponsored American Depositary Receipt, which trades over the counter in the US. Danone itself is listed on Euronext Paris under the ticker BN, is part of the CAC 40 index, and reports in euros. The ADR lets US investors hold the company as a dollar-denominated security in an ordinary US brokerage account, without opening a foreign account or converting currency themselves. A depositary bank holds the underlying French shares and passes through dividends, net of depositary fees and French withholding tax. Because it trades OTC rather than on the NYSE or Nasdaq, Danone does not file full annual reports with the SEC the way a US-listed company does, and trading volume is lower, so bid-ask spreads can be wider than on the Paris listing. Many US brokers support it, including fractional purchases at some.
What is the DANOY ADR ratio?
+
Each DANOY ADR represents one-fifth of one ordinary Danone share, so five ADRs equal one Paris-listed share. That is why the ADR closed at ~$13.63 on October 15, 2026 while the Paris share trades around ~€58 to €59. To compare the two, multiply the ADR price by five and convert at the current euro to dollar rate; small gaps between the two usually reflect timing and exchange-rate moves rather than a real mispricing, because arbitrage keeps them close. Per-share figures in Danone's reports need to be divided by five to get the per-ADR equivalent. For example, recurring EPS of ~€3.80 works out to ~€0.76 per ADR and the €2.25 dividend to ~€0.45 per ADR, before currency conversion. Price-based ratios such as the P/E are the same whichever line is used.
What does Danone actually sell?
+
Danone sells three broad types of products. Essential Dairy and Plant-Based, its largest segment, includes Activia, Danone, Oikos, YoPRO, Silk, Alpro and International Delight coffee creamers. Specialized Nutrition covers infant formula such as Aptamil and Nutrilon and medical nutrition under Nutricia, including specialised feeds for hospital patients, people with allergies and older adults, and it carries the group's richest margins. Waters includes Evian, Volvic, Aqua in Indonesia and Mizone in China. Recent acquisitions such as Kate Farms, The Akkermansia Company and Huel extend the company further into protein shakes, gut-health supplements and complete nutrition. Geographically, Europe and North America are the largest regions, while China, Asia and Latin America supply a meaningful share of growth, particularly in formula and water.
How did Danone perform recently?
+
In fiscal 2025 Danone reported sales of ~€27.3 billion, with like-for-like growth of ~4.5% even though reported sales slipped ~0.3% because of currency. Recurring operating income rose ~3% to ~€3.7 billion, a 13.4% margin, recurring EPS grew ~4.6% to €3.80, and free cash flow reached ~€2.8 billion. In the first half of 2026, sales were ~€13.9 billion, up ~3.5% like-for-like, with the second quarter accelerating to ~4.2% after a slower ~2.7% first quarter hit by the infant formula recall. The recurring operating margin rose slightly to ~13.3%, recurring EPS was ~€1.92, and full-year guidance of 3% to 5% like-for-like growth was confirmed in July. Third-quarter sales are scheduled for October 28, 2026.
Does DANOY pay a dividend?
+
Yes. Danone pays one dividend per year, typically in May, after shareholders approve it at the annual general meeting. For fiscal 2025 the dividend was €2.25 per ordinary share, up ~4.7% from the prior year, which works out to ~€0.45 per ADR before currency conversion and taxes, a yield of roughly 3.8% at the October 15, 2026 ADR price of ~$13.63. Danone has a long record of paying a dividend and has generally raised it in line with recurring earnings. Some data sites show DANOY as a quarterly payer or list differing yields, which reflects how they annualize or convert data rather than Danone's actual schedule. The dollar amount US holders receive depends on the exchange rate on the payment date and on depositary fees, so it can differ year to year even when the euro dividend is unchanged.
How are DANOY dividends taxed for US holders?
+
France withholds tax on dividends paid to foreign shareholders, at a default rate of 25% for non-residents. US residents can be eligible for the 15% rate under the US-France tax treaty, either at source through forms filed with the depositary bank or by reclaiming the difference from French tax authorities afterward, a process that can take a long time. The tax withheld may be creditable against US federal tax through the foreign tax credit in a taxable account, and Danone dividends generally count as qualified dividends for US purposes. The rules differ by account type: tax withheld inside an IRA or other retirement account generally cannot be recovered through the credit, which lowers the effective yield there. A tax professional can confirm how this applies to a specific situation.
What happened with the 2026 infant formula recall?
+
In January 2026, reports emerged of cereulide, a heat-stable toxin produced by certain bacteria, in an ingredient from a Thai supplier used in some infant formula. Danone recalled select batches in Europe as a precaution, and the ADR fell ~8% to ~$15.87 on January 21 and another ~2.7% when the recall was announced two days later. Several US plaintiff law firms then announced investigations on behalf of DANOY holders, but public reporting through this writing showed investigations rather than a filed securities class action. Danone cited the recall as a drag on first-quarter growth and first-half margins. Second-quarter like-for-like growth of ~4.2% suggested Specialized Nutrition was recovering, and the second half of 2026 is the clearer test of whether lost shelf space and trust have returned.
How does DANOY's valuation compare with peers?
+
At the October 15, 2026 close of ~$13.63 per ADR, Danone trades at roughly 15 to 16 times recurring earnings, or around 20 to 21 times reported earnings, which were reduced by ~€725 million of one-time charges in 2025. Its market value is roughly $44 to $46 billion, down from above $50 billion in the summer. That puts it near large European staples peers like Nestle and Unilever, which trade at broadly similar or slightly higher multiples, and below the premium that some faster-growing US snack and beverage names have carried. Investors comparing them often look at like-for-like growth, where Danone has recently been at or above peers, and at margin, where Danone's ~13% recurring operating margin trails Nestle's mid-teens figure. The ~3.8% dividend yield is also part of the comparison. Walnut is not an investment adviser, and these figures are descriptive, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Danone S.A.'s investor relations page or your broker before making investment decisions.