102.25
+0.29%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 6.95bn
FY2016FY2025
Net income
CHF 668.0m
FY2016FY2025
Free cash flow
CHF 968.0m
FY2016FY2025
Shareholders' equity
CHF 901.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 6.95bn | CHF 6.79bn | CHF 6.62bn | CHF 6.64bn | CHF 6.41bn | CHF 5.60bn | CHF 6.60bn | CHF 6.71bn | CHF 6.35bn | CHF 5.99bn |
| Operating income | CHF 1.06bn | CHF 904.0m | CHF 881.0m | CHF 971.0m | CHF 985.0m | CHF 898.0m | CHF 962.0m | CHF 930.0m | CHF 921.0m | CHF 846.0m |
| Net income | CHF 668.0m | CHF 581.0m | CHF 553.0m | CHF 588.0m | CHF 613.0m | CHF 480.0m | CHF 660.0m | CHF 643.0m | CHF 621.0m | CHF 543.0m |
| Diluted earnings per share | 3.46 | 3.08 | 2.99 | 3.14 | 3.27 | 2.57 | 3.50 | 3.37 | 3.33 | 2.86 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 7.88bn | CHF 6.75bn | CHF 6.76bn | CHF 7.12bn | CHF 7.01bn | CHF 6.91bn | CHF 6.33bn | CHF 6.07bn | CHF 5.94bn | CHF 5.35bn |
| Cash and short-term investments | CHF 2.33bn | CHF 1.21bn | CHF 1.57bn | CHF 1.62bn | CHF 1.48bn | CHF 1.77bn | CHF 1.48bn | CHF 1.75bn | CHF 1.39bn | CHF 984.0m |
| Total liabilities | CHF 6.89bn | CHF 5.87bn | CHF 6.23bn | CHF 6.36bn | CHF 5.80bn | CHF 5.77bn | CHF 4.73bn | CHF 4.33bn | CHF 3.94bn | CHF 3.50bn |
| Debt | CHF 4.73bn | CHF 3.83bn | CHF 4.41bn | CHF 4.45bn | CHF 3.81bn | CHF 3.87bn | CHF 2.88bn | CHF 2.49bn | CHF 2.09bn | CHF 1.72bn |
| Shareholders' equity | CHF 901.0m | CHF 797.0m | CHF 459.0m | CHF 682.0m | CHF 1.12bn | CHF 1.06bn | CHF 1.51bn | CHF 1.67bn | CHF 1.92bn | CHF 1.77bn |
| Shares outstanding | 193m | 189m | 185m | 188m | 188m | 187m | 189m | 191m | 187m | 190m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 1.22bn | CHF 1.22bn | CHF 1.12bn | CHF 985.0m | CHF 1.12bn | CHF 1.14bn | CHF 1.08bn | CHF 1.07bn | CHF 987.0m | CHF 1.01bn |
| Capital spending | −CHF 255.0m | −CHF 251.0m | −CHF 298.0m | −CHF 332.0m | −CHF 338.0m | −CHF 263.0m | −CHF 290.0m | −CHF 304.0m | −CHF 298.0m | −CHF 289.0m |
| Free cash flow | CHF 968.0m | CHF 973.0m | CHF 825.0m | CHF 653.0m | CHF 782.0m | CHF 875.0m | CHF 793.0m | CHF 770.0m | CHF 689.0m | CHF 725.0m |
| Dividends paid | −CHF 222.0m | −CHF 207.0m | −CHF 590.0m | −CHF 599.0m | −CHF 599.0m | −CHF 598.0m | −CHF 589.0m | −CHF 573.0m | −CHF 528.0m | −CHF 517.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 3.68bn | CHF 3.52bn | CHF 1.71bn | CHF 3.46bn | CHF 3.33bn | CHF 3.34bn | CHF 3.28bn | CHF 1.66bn |
| Operating income | CHF 514.0m | CHF 566.0m | CHF 243.0m | CHF 548.0m | CHF 416.0m | CHF 438.0m | CHF 438.0m | CHF 223.5m |
| Net income | CHF 309.0m | CHF 354.0m | CHF 157.0m | CHF 314.0m | CHF 267.0m | CHF 281.0m | CHF 272.0m | CHF 147.0m |
| Diluted earnings per share | 1.58 | 1.83 | 0.81 | 1.66 | 1.41 | 1.52 | 1.47 | 0.79 |
| Cash from operations | CHF 471.0m | CHF 784.0m | CHF 402.0m | CHF 792.0m | CHF 397.0m | CHF 720.0m | CHF 345.0m | CHF 257.0m |
| Capital spending | −CHF 131.0m | −CHF 129.0m | −CHF 54.0m | −CHF 94.0m | −CHF 136.0m | −CHF 117.0m | −CHF 143.0m | −CHF 82.0m |
| Free cash flow | CHF 340.0m | CHF 655.0m | CHF 348.0m | CHF 698.0m | CHF 261.0m | CHF 603.0m | CHF 202.0m | CHF 175.0m |
| Total assets | CHF 8.47bn | CHF 7.88bn | CHF 7.18bn | CHF 6.75bn | CHF 6.90bn | CHF 6.76bn | CHF 6.61bn | CHF 1.78bn |
| Cash and short-term investments | CHF 1.30bn | CHF 2.33bn | CHF 1.69bn | CHF 1.21bn | CHF 1.29bn | CHF 1.57bn | CHF 1.05bn | — |
| Debt | CHF 1.52bn | CHF 4.76bn | CHF 4.54bn | CHF 3.88bn | CHF 4.31bn | CHF 4.41bn | CHF 4.39bn | — |
| Shareholders' equity | CHF 1.01bn | CHF 901.0m | CHF 641.0m | CHF 797.0m | CHF 598.0m | CHF 459.0m | CHF 286.0m | CHF 190.8m |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.2% | 13.3% | 13.3% | 14.6% | 15.4% | 16.0% |
| Net margin | 9.6% | 8.6% | 8.4% | 8.9% | 9.6% | 8.6% |
| Return on equity | 74.1% | 72.9% | 120.5% | 86.2% | 54.9% | 45.3% |
| Return on assets | 8.5% | 8.6% | 8.2% | 8.3% | 8.7% | 6.9% |
| Free cash flow yield | 8.0% | 8.2% | 8.1% | 7.4% | 8.2% | 7.9% |
| Revenue growth | 2.2% | 2.6% | -0.3% | 3.7% | 14.3% | -15.1% |
| Earnings growth | 15.0% | 5.1% | -6.0% | -4.1% | 27.7% | -27.3% |
| Current ratio | 1.44x | 1.13x | 1.21x | 1.13x | 1.36x | 1.18x |
| Debt to equity | 4.83x | 4.36x | 8.77x | 5.87x | 2.98x | 3.21x |
| Equity ratio | 11.4% | 11.8% | 6.8% | 9.6% | 15.9% | 15.3% |
| Interest coverage | 13.93x | 11.89x | 12.07x | 18.67x | 16.15x | 16.33x |
| Buybacks as a share of market value | -2.2% | -2.1% | 1.3% | 0.0% | -0.4% | 1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.5% | 4.4% | 2.0% |
| Operating income | 2.9% | 3.4% | 2.2% |
| Net income | 4.3% | 6.8% | 2.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 14.3% | 14.1% | 14.6% | 14.5% |
| Net margin | 9.1% | 8.9% | 8.9% | 9.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.2 | 29.6 | 24.3 | 27.4 | 37.3 | 41.5 | 30.3 | 26.3 | 30.6 | 28.9 |
| Price to sales | 2.5 | 2.5 | 2.0 | 2.4 | 3.6 | 3.6 | 3.0 | 2.5 | 3.0 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 26 years. Last went ex-dividend on 2 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 3.20 | 3.20 | 3.20 | 3.072 | 3.072 | 3.072 | 3.072 | 2.996 |
- 38.057693-for-37.057693 split · 2 Apr 2024
- 25-for-1 split · 12 Apr 2023
- 25-for-1 split · 6 Apr 2023
- 1-to-1 reverse split · 22 Jun 1998
- 200000-to-1 reverse split · 13 Jul 1992
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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