90.05
+0.67%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 4.14bn
FY2016FY2025
Net income
CHF 181.1m
FY2016FY2025
Free cash flow
CHF 272.4m
FY2016FY2025
Shareholders' equity
CHF 1.48bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 4.14bn | CHF 3.92bn | CHF 3.75bn | CHF 4.01bn | CHF 3.83bn | CHF 3.48bn | CHF 3.31bn | CHF 3.17bn | CHF 3.15bn | CHF 3.01bn |
| Research and development | CHF 8.3m | CHF 14.0m | CHF 12.7m | CHF 13.5m | CHF 15.2m | CHF 15.7m | CHF 13.4m | CHF 11.9m | CHF 13.5m | CHF 12.2m |
| Operating income | CHF 222.8m | CHF 221.5m | CHF 203.9m | CHF 190.9m | CHF 201.9m | CHF 209.4m | CHF 169.2m | CHF 107.7m | CHF 138.2m | CHF 123.8m |
| Net income | CHF 181.1m | CHF 183.0m | CHF 173.6m | CHF 165.1m | CHF 167.7m | CHF 172.2m | CHF 125.0m | CHF 147.5m | CHF 118.8m | CHF 83.4m |
| Diluted earnings per share | 3.63 | 3.67 | 3.48 | 3.31 | 3.37 | 3.48 | 2.53 | 2.99 | 2.46 | 1.67 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 3.34bn | CHF 3.07bn | CHF 2.99bn | CHF 2.66bn | CHF 2.62bn | CHF 2.26bn | CHF 2.21bn | CHF 1.86bn | CHF 1.80bn | CHF 1.99bn |
| Cash and short-term investments | CHF 115.5m | CHF 129.7m | CHF 116.2m | CHF 93.9m | CHF 165.0m | CHF 59.8m | CHF 90.5m | CHF 105.0m | CHF 96.3m | CHF 9.0m |
| Total liabilities | CHF 1.86bn | CHF 1.52bn | CHF 1.52bn | CHF 1.41bn | CHF 1.38bn | CHF 1.21bn | CHF 1.21bn | CHF 926.5m | CHF 936.7m | CHF 1.65bn |
| Debt | CHF 1.06bn | CHF 834.0m | CHF 774.8m | CHF 686.5m | CHF 672.6m | CHF 640.6m | CHF 656.1m | CHF 410.6m | CHF 406.3m | CHF 5.0m |
| Shareholders' equity | CHF 1.48bn | CHF 1.55bn | CHF 1.47bn | CHF 1.25bn | CHF 1.23bn | CHF 1.05bn | CHF 993.5m | CHF 929.5m | CHF 857.3m | CHF 329.6m |
| Shares outstanding | 50m | 50m | 50m | 50m | 50m | 50m | 49m | 49m | 48m | 50m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 299.8m | CHF 264.7m | CHF 225.7m | CHF 236.9m | CHF 333.1m | CHF 224.4m | CHF 250.4m | CHF 173.6m | CHF 144.4m | CHF 156.8m |
| Capital spending | −CHF 27.4m | −CHF 72.4m | −CHF 76.4m | −CHF 70.4m | −CHF 60.1m | −CHF 55.7m | −CHF 53.6m | −CHF 27.0m | −CHF 28.0m | −CHF 34.9m |
| Free cash flow | CHF 272.4m | CHF 192.3m | CHF 149.3m | CHF 166.5m | CHF 273.0m | CHF 168.7m | CHF 196.8m | CHF 146.6m | CHF 116.4m | CHF 121.9m |
| Dividends paid | −CHF 115.1m | −CHF 110.2m | −CHF 110.3m | −CHF 104.8m | −CHF 89.5m | −CHF 89.2m | −CHF 83.9m | −CHF 81.1m | −CHF 766.9m | −CHF 46.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 2.14bn | CHF 2.14bn | CHF 2.00bn | CHF 2.02bn | CHF 1.91bn | CHF 1.89bn | CHF 1.85bn | CHF 2.05bn |
| Operating income | CHF 83.4m | CHF 120.9m | CHF 105.8m | CHF 107.7m | CHF 100.4m | CHF 102.7m | CHF 89.6m | CHF 97.8m |
| Net income | CHF 66.4m | CHF 92.8m | CHF 88.3m | CHF 104.1m | CHF 78.9m | CHF 98.4m | CHF 187.0m | CHF 82.2m |
| Diluted earnings per share | 1.33 | 1.86 | 1.77 | 2.09 | 1.58 | 1.97 | 3.74 | 1.65 |
| Cash from operations | CHF 60.0m | CHF 190.0m | CHF 108.0m | CHF 220.0m | CHF 43.0m | CHF 220.0m | CHF 4.0m | CHF 197.0m |
| Capital spending | −CHF 19.0m | −CHF 12.0m | −CHF 15.0m | −CHF 16.0m | −CHF 20.0m | −CHF 44.0m | −CHF 31.0m | −CHF 40.0m |
| Free cash flow | CHF 41.0m | CHF 178.0m | CHF 93.0m | CHF 204.0m | CHF 23.0m | CHF 176.0m | −CHF 27.0m | CHF 157.0m |
| Total assets | CHF 3.32bn | CHF 3.34bn | CHF 3.06bn | CHF 3.07bn | CHF 3.01bn | CHF 3.04bn | CHF 2.81bn | CHF 2.66bn |
| Cash and short-term investments | CHF 39.6m | CHF 115.5m | CHF 67.1m | CHF 129.7m | CHF 69.5m | CHF 116.2m | CHF 15.3m | CHF 93.9m |
| Debt | CHF 347.9m | CHF 1.12bn | CHF 915.9m | CHF 814.5m | CHF 787.7m | CHF 704.6m | CHF 714.2m | CHF 686.5m |
| Shareholders' equity | CHF 1.41bn | CHF 1.48bn | CHF 1.44bn | CHF 1.55bn | CHF 1.41bn | CHF 1.47bn | CHF 1.33bn | CHF 1.25bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 5.4% | 5.6% | 5.4% | 4.9% | 5.3% | 6.0% |
| Net margin | 4.4% | 4.7% | 4.6% | 4.1% | 4.4% | 4.9% |
| Return on equity | 12.2% | 11.8% | 11.8% | 13.3% | 13.7% | 16.4% |
| Return on assets | 5.4% | 6.0% | 5.8% | 6.2% | 6.4% | 7.6% |
| Free cash flow yield | 7.5% | 7.7% | 6.9% | 7.0% | 9.0% | 6.4% |
| Revenue growth | 5.5% | 4.7% | -6.7% | 4.7% | 10.2% | 5.2% |
| Earnings growth | -1.0% | 5.4% | 5.1% | -1.5% | -2.7% | 37.8% |
| Current ratio | 1.15x | 1.41x | 1.34x | 1.11x | 1.45x | 1.49x |
| Debt to equity | 0.44x | 0.38x | 0.35x | 0.40x | 0.37x | 0.41x |
| Equity ratio | 44.3% | 50.4% | 49.2% | 46.8% | 46.9% | 46.4% |
| Interest coverage | 14.24x | 16.85x | 12.90x | 35.60x | 35.68x | 39.86x |
| R&D as a share of sales | 0.2% | 0.4% | 0.3% | 0.3% | 0.4% | 0.5% |
| Buybacks as a share of market value | -0.1% | 0.2% | 0.0% | -0.5% | -0.3% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.0% | 3.5% | 3.6% |
| Operating income | 5.3% | 1.2% | 6.5% |
| Net income | 3.1% | 1.0% | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.5% | 5.3% | 5.4% | 4.9% |
| Net margin | 4.5% | 4.4% | 4.5% | 4.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.9 | 20.3 | 20.9 | 22.9 | 20.3 | 17.0 | 23.6 | 14.5 | 20.3 |
| Price to sales | 1.2 | 0.9 | 1.0 | 0.9 | 0.9 | 0.8 | 0.9 | 0.7 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 23 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.25 | 1.15 | 1.10 | 1.10 | 1.05 | 0.90 | 0.90 | 1.70 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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