A 
195.00
+1.14%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 436.7m
FY2016FY2025
Net income
CHF 219.3m
FY2016FY2025
Free cash flow
CHF 156.3m
FY2016FY2025
Shareholders' equity
CHF 2.75bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 436.7m | CHF 420.0m | CHF 428.3m | CHF 502.0m | CHF 552.9m | CHF 516.4m | CHF 531.8m | CHF 546.2m | CHF 615.4m | CHF 825.4m |
| Gross profit | CHF 229.7m | CHF 236.9m | CHF 228.5m | CHF 239.6m | CHF 228.5m | CHF 217.8m | CHF 240.9m | CHF 227.7m | CHF 225.2m | CHF 187.8m |
| Research and development | — | — | CHF 0 | CHF 0 | CHF 0 | CHF 0 | CHF 1 | — | — | — |
| Operating income | CHF 212.4m | CHF 311.2m | CHF 147.3m | CHF 183.9m | CHF 182.3m | CHF 170.1m | CHF 188.0m | CHF 175.0m | CHF 165.7m | CHF 160.4m |
| Net income | CHF 219.3m | CHF 211.4m | CHF 65.2m | CHF 154.7m | CHF 182.6m | CHF 167.2m | CHF 234.8m | CHF 161.0m | CHF 129.2m | CHF 173.6m |
| Diluted earnings per share | 13.28 | 12.80 | 3.95 | 9.36 | 11.32 | 10.52 | 14.77 | 10.13 | 8.11 | 10.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 6.00bn | CHF 5.88bn | CHF 5.72bn | CHF 5.69bn | CHF 5.80bn | CHF 4.99bn | CHF 4.74bn | CHF 4.61bn | CHF 4.36bn | CHF 3.99bn |
| Cash and short-term investments | CHF 5.4m | CHF 4.1m | CHF 12.6m | CHF 14.1m | CHF 73.4m | CHF 40.5m | CHF 37.3m | CHF 40.6m | CHF 38.1m | CHF 21.4m |
| Total liabilities | CHF 3.25bn | CHF 3.24bn | CHF 3.18bn | CHF 3.09bn | CHF 3.25bn | CHF 2.58bn | CHF 2.39bn | CHF 2.39bn | CHF 2.21bn | CHF 1.91bn |
| Debt | CHF 2.67bn | CHF 2.70bn | CHF 2.69bn | CHF 2.61bn | CHF 2.73bn | CHF 2.18bn | CHF 2.00bn | CHF 2.07bn | CHF 1.91bn | CHF 1.60bn |
| Shareholders' equity | CHF 2.75bn | CHF 2.64bn | CHF 2.55bn | CHF 2.60bn | CHF 2.56bn | CHF 2.41bn | CHF 2.35bn | CHF 2.22bn | CHF 2.15bn | CHF 2.09bn |
| Shares outstanding | 17m | 17m | 17m | 17m | 16m | 16m | 16m | 16m | 16m | 16m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 156.5m | CHF 85.1m | CHF 25.0m | CHF 159.6m | CHF 164.4m | CHF 61.8m | CHF 199.6m | CHF 82.6m | CHF 172.2m | CHF 246.7m |
| Capital spending | −CHF 200,000 | −CHF 3.6m | −CHF 6.6m | −CHF 4.7m | −CHF 200,000 | −CHF 10.2m | −CHF 1.1m | −CHF 18.6m | −CHF 29.9m | −CHF 32.1m |
| Free cash flow | CHF 156.3m | CHF 81.5m | CHF 18.4m | CHF 154.9m | CHF 164.2m | CHF 51.6m | CHF 198.5m | CHF 64.0m | CHF 142.3m | CHF 214.6m |
| Dividends paid | −CHF 115.6m | −CHF 115.6m | −CHF 115.6m | −CHF 115.6m | −CHF 106.7m | −CHF 107.3m | −CHF 103.3m | −CHF 99.3m | −CHF 91.7m | −CHF 91.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 212.0m | CHF 226.7m | CHF 210.0m | CHF 217.6m | CHF 202.4m | CHF 198.0m | CHF 230.3m | CHF 247.8m |
| Gross profit | CHF 117.3m | CHF 112.5m | CHF 210.0m | CHF 116.8m | CHF 117.7m | CHF 111.6m | CHF 114.7m | CHF 109.7m |
| Operating income | CHF 93.1m | CHF 88.5m | CHF 165.5m | CHF 90.7m | CHF 98.3m | CHF 86.2m | CHF 88.6m | CHF 83.2m |
| Net income | CHF 105.6m | CHF 102.5m | CHF 116.8m | CHF 144.2m | CHF 67.2m | CHF 20.9m | CHF 44.3m | CHF 72.0m |
| Diluted earnings per share | 6.39 | 6.21 | 7.07 | 8.73 | 4.07 | 1.27 | 2.68 | 4.36 |
| Cash from operations | CHF 1.0m | CHF 92.0m | CHF 63.0m | CHF 37.0m | CHF 47.0m | −CHF 2.0m | CHF 27.0m | CHF 85.0m |
| Capital spending | — | — | — | — | −CHF 2.0m | −CHF 3.0m | −CHF 2.0m | −CHF 3.0m |
| Free cash flow | — | — | — | — | CHF 45.0m | −CHF 5.0m | CHF 25.0m | CHF 82.0m |
| Total assets | CHF 6.17bn | CHF 6.00bn | CHF 6.01bn | CHF 5.88bn | CHF 5.74bn | CHF 5.72bn | CHF 5.69bn | CHF 5.69bn |
| Cash and short-term investments | CHF 11.6m | CHF 5.4m | CHF 4.5m | CHF 4.1m | CHF 4.5m | CHF 12.6m | CHF 15.1m | CHF 14.1m |
| Debt | CHF 992.0m | CHF 2.67bn | CHF 2.76bn | CHF 2.70bn | CHF 2.76bn | CHF 2.69bn | CHF 2.69bn | CHF 2.61bn |
| Shareholders' equity | CHF 2.74bn | CHF 2.75bn | CHF 2.64bn | CHF 2.64bn | CHF 2.50bn | CHF 2.55bn | CHF 2.52bn | CHF 2.60bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 52.6% | 56.4% | 53.4% | 47.7% | 41.3% | 42.2% | — |
| Operating margin | 71.1% | 74.4% | 27.3% | 36.6% | 33.0% | 32.9% | — |
| Net margin | 50.2% | 50.3% | 15.2% | 30.8% | 33.0% | 32.4% | — |
| Return on equity | 8.0% | 8.0% | 2.6% | 6.0% | 7.1% | 6.9% | — |
| Return on assets | 3.7% | 3.6% | 1.1% | 2.7% | 3.1% | 3.4% | — |
| Free cash flow yield | 5.0% | 2.7% | 0.8% | 5.1% | 5.4% | 2.1% | — |
| Revenue growth | 4.0% | -1.9% | -14.7% | -9.2% | 7.1% | -2.9% | — |
| Earnings growth | 3.7% | 224.2% | -57.9% | -15.3% | 9.2% | -28.8% | — |
| Current ratio | 0.07x | 0.89x | 0.76x | 0.51x | 2.62x | 2.41x | — |
| Debt to equity | 0.97x | 1.02x | 1.06x | 1.00x | 1.07x | 0.90x | — |
| Equity ratio | 45.8% | 44.9% | 44.5% | 45.6% | 44.1% | 48.4% | — |
| Interest coverage | 9.46x | 8.63x | 3.57x | 9.73x | 11.61x | 9.56x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.1% | -2.5% | -1.4% | -0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.5% | -3.3% | -5.6% |
| Operating income | 4.9% | 4.5% | 3.1% |
| Net income | 12.3% | 5.6% | 6.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 54.5% | 52.3% | 48.3% | 39.6% |
| Operating margin | 61.1% | 47.8% | 42.3% | 33.4% |
| Net margin | 50.3% | 36.4% | 35.0% | 29.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.3 | 12.9 | 38.1 | 16.1 | 17.8 | 19.4 | 13.0 | 15.1 | 20.3 | 13.9 |
| Price to sales | 7.7 | 6.5 | 5.8 | 5.0 | 5.9 | 6.3 | 5.8 | 4.5 | 4.3 | 2.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 24 years. Last went ex-dividend on 21 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 7.00 | 7.00 | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 | 6.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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