D 
133.40
+1.99%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 1.10bn
FY2016FY2025
Net income
CHF 80.8m
FY2016FY2025
Free cash flow
CHF 126.9m
FY2016FY2025
Shareholders' equity
CHF 369.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 1.10bn | CHF 1.11bn | CHF 1.15bn | CHF 1.15bn | CHF 947.6m | CHF 823.3m | CHF 1.05bn | CHF 1.36bn | CHF 1.29bn | CHF 1.22bn |
| Gross profit | CHF 257.9m | CHF 238.3m | CHF 240.2m | CHF 255.2m | CHF 247.6m | CHF 208.0m | CHF 269.3m | CHF 343.1m | CHF 329.7m | CHF 320.2m |
| Research and development | CHF 43.5m | CHF 42.6m | CHF 41.5m | CHF 35.7m | CHF 27.2m | CHF 22.8m | CHF 26.3m | CHF 28.0m | CHF 26.1m | CHF 23.6m |
| Operating income | CHF 112.3m | CHF 80.2m | CHF 107.0m | CHF 149.2m | CHF 160.4m | CHF 130.2m | CHF 115.9m | CHF 169.5m | CHF 162.5m | CHF 103.7m |
| Net income | CHF 80.8m | CHF 31.1m | CHF 66.8m | CHF 104.8m | CHF 194.0m | −CHF 346.3m | −CHF 86.6m | CHF 121.0m | CHF 123.7m | CHF 57.6m |
| Diluted earnings per share | 4.75 | 1.83 | 3.93 | 6.16 | 11.41 | -20.37 | -5.09 | 7.11 | 7.27 | 3.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 1.07bn | CHF 1.15bn | CHF 1.20bn | CHF 1.30bn | CHF 1.26bn | CHF 1.11bn | CHF 1.16bn | CHF 1.31bn | CHF 1.30bn | CHF 1.22bn |
| Cash and short-term investments | CHF 125.5m | CHF 127.4m | CHF 122.5m | CHF 101.3m | CHF 279.6m | CHF 169.5m | CHF 191.9m | CHF 170.8m | CHF 281.8m | CHF 317.5m |
| Total liabilities | CHF 695.9m | CHF 781.7m | CHF 814.6m | CHF 895.4m | CHF 312.7m | CHF 371.8m | CHF 486.6m | CHF 487.4m | CHF 401.1m | CHF 411.6m |
| Debt | CHF 504.6m | CHF 574.4m | CHF 639.6m | CHF 697.4m | CHF 150.6m | CHF 205.5m | CHF 285.3m | CHF 281.7m | CHF 163.3m | CHF 162.2m |
| Shareholders' equity | CHF 369.4m | CHF 368.5m | CHF 386.2m | CHF 403.6m | CHF 948.3m | CHF 735.1m | CHF 675.1m | CHF 827.4m | CHF 898.5m | CHF 805.5m |
| Shares outstanding | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 173.8m | CHF 171.7m | CHF 194.9m | CHF 118.6m | CHF 183.5m | CHF 185.3m | CHF 174.8m | CHF 162.9m | CHF 112.7m | CHF 90.7m |
| Capital spending | −CHF 46.9m | −CHF 44.2m | −CHF 59.5m | −CHF 100.2m | −CHF 111.3m | −CHF 89.2m | −CHF 105.9m | −CHF 137.9m | −CHF 99.7m | −CHF 71.5m |
| Free cash flow | CHF 126.9m | CHF 127.5m | CHF 135.4m | CHF 18.4m | CHF 72.2m | CHF 96.1m | CHF 68.9m | CHF 25.0m | CHF 13.0m | CHF 19.2m |
| Dividends paid | −CHF 54.4m | −CHF 54.4m | −CHF 54.4m | −CHF 71.4m | −CHF 54.4m | −CHF 51.0m | −CHF 51.0m | −CHF 51.0m | −CHF 37.4m | −CHF 36.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 582.7m | CHF 537.5m | CHF 563.0m | CHF 535.2m | CHF 572.5m | CHF 548.8m | CHF 602.7m | CHF 301.4m |
| Gross profit | CHF 143.7m | CHF 127.7m | CHF 130.2m | CHF 110.7m | CHF 127.6m | CHF 117.1m | CHF 123.1m | CHF 61.5m |
| Operating income | CHF 61.7m | CHF 54.7m | CHF 68.9m | CHF 39.3m | CHF 67.5m | CHF 49.7m | CHF 49.5m | CHF 26.5m |
| Net income | CHF 39.3m | CHF 42.9m | CHF 37.9m | −CHF 7.5m | CHF 38.6m | CHF 34.7m | CHF 32.1m | CHF 16.1m |
| Diluted earnings per share | 2.31 | 2.52 | 2.23 | -0.44 | 2.27 | 2.04 | 1.89 | 0.95 |
| Cash from operations | CHF 76.0m | CHF 83.0m | CHF 90.0m | CHF 85.0m | CHF 86.0m | CHF 99.0m | CHF 95.0m | — |
| Capital spending | −CHF 19.0m | −CHF 21.0m | −CHF 25.0m | −CHF 15.0m | −CHF 20.0m | −CHF 17.0m | −CHF 34.0m | — |
| Free cash flow | CHF 57.0m | CHF 62.0m | CHF 65.0m | CHF 70.0m | CHF 66.0m | CHF 82.0m | CHF 61.0m | — |
| Total assets | CHF 1.11bn | CHF 1.07bn | CHF 1.08bn | CHF 1.15bn | CHF 1.18bn | CHF 1.20bn | CHF 1.25bn | CHF 1.25bn |
| Cash and short-term investments | CHF 83.6m | CHF 125.5m | CHF 107.1m | CHF 127.4m | CHF 99.7m | CHF 122.5m | CHF 90.2m | CHF 90.2m |
| Debt | CHF 1.2m | CHF 504.6m | CHF 549.5m | CHF 574.4m | CHF 608.5m | CHF 639.6m | CHF 682.7m | CHF 522.9m |
| Shareholders' equity | CHF 326.2m | CHF 369.4m | CHF 330.6m | CHF 368.5m | CHF 380.7m | CHF 386.2m | CHF 370.3m | CHF 370.3m |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.4% | 21.5% | 20.9% | 22.2% | 26.1% | 25.3% |
| Operating margin | 10.2% | 5.7% | 9.3% | 13.0% | 16.8% | 15.9% |
| Net margin | 7.3% | 2.8% | 5.8% | 9.1% | 20.5% | -42.1% |
| Return on equity | 21.9% | 8.4% | 17.3% | 26.0% | 20.5% | -47.1% |
| Return on assets | 7.6% | 2.7% | 5.6% | 8.1% | 15.4% | -31.3% |
| Free cash flow yield | 9.9% | 9.7% | 11.5% | 9.9% | 13.3% | 12.4% |
| Revenue growth | -0.6% | -3.8% | 0.1% | 21.4% | 15.1% | -21.6% |
| Earnings growth | 159.8% | -53.4% | -36.3% | -46.0% | -156.0% | 299.9% |
| Current ratio | 3.17x | 3.01x | 1.83x | 3.18x | 4.39x | 2.49x |
| Debt to equity | 1.37x | 1.56x | 1.66x | 1.73x | 0.16x | 0.28x |
| Equity ratio | 34.7% | 32.0% | 32.2% | 31.1% | 75.2% | 66.4% |
| Interest coverage | 11.82x | 5.63x | 6.99x | 14.77x | 69.35x | 14.67x |
| R&D as a share of sales | 4.0% | 3.8% | 3.6% | 3.1% | 2.9% | 2.8% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | 6.0% | -0.6% |
| Operating income | -9.0% | -2.9% | -1.1% |
| Net income | -8.3% | — | -0.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.5% | 22.0% | 23.0% | 24.2% |
| Operating margin | 8.7% | 9.9% | 11.8% | 11.5% |
| Net margin | 5.1% | 6.3% | 2.1% | 3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 34.7 | 72.8 | 49.7 | 29.9 | 35.2 | -12.6 | -36.6 | 17.6 | 25.9 | 40.3 |
| Price to sales | 2.5 | 2.0 | 2.9 | 2.7 | 7.2 | 5.3 | 3.0 | 1.6 | 2.5 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 19 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.20 | 3.20 | 3.20 | 3.20 | 4.20 | 3.20 | 3.00 | 3.00 |
- 1.03-for-1 split · 20 Apr 2015
- 100-for-1 split · 6 Jul 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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