S 
191.35
+3.29%
Close of 9 Nov 2026, in CHF
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 11.20bn
FY2016FY2025
Net income
CHF 1.05bn
FY2016FY2025
Free cash flow
CHF 1.25bn
FY2016FY2025
Shareholders' equity
CHF 6.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 11.20bn | CHF 11.76bn | CHF 11.24bn | CHF 10.49bn | CHF 9.25bn | CHF 7.88bn | CHF 8.11bn | CHF 7.09bn | CHF 6.25bn | CHF 5.75bn |
| Research and development | CHF 280.8m | CHF 278.1m | CHF 270.5m | CHF 232.0m | CHF 214.3m | CHF 193.6m | CHF 200.2m | CHF 189.5m | CHF 184.6m | CHF 172.1m |
| Operating income | CHF 1.52bn | CHF 1.71bn | CHF 1.55bn | CHF 1.57bn | CHF 1.39bn | CHF 1.13bn | CHF 1.18bn | CHF 972.7m | CHF 900.2m | CHF 795.8m |
| Net income | CHF 1.05bn | CHF 1.25bn | CHF 1.06bn | CHF 1.16bn | CHF 1.05bn | CHF 824.5m | CHF 751.9m | CHF 682.9m | CHF 643.5m | CHF 563.1m |
| Diluted earnings per share | 6.51 | 7.76 | 6.62 | 7.19 | 6.46 | 5.03 | 4.64 | 4.52 | 4.22 | 3.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 15.36bn | CHF 15.98bn | CHF 15.05bn | CHF 11.48bn | CHF 10.90bn | CHF 9.94bn | CHF 9.96bn | CHF 6.38bn | CHF 5.80bn | CHF 5.10bn |
| Cash and short-term investments | CHF 807.6m | CHF 712.9m | CHF 648.2m | CHF 1.88bn | CHF 1.18bn | CHF 1.32bn | CHF 997.6m | CHF 916.1m | CHF 1.04bn | CHF 1.16bn |
| Total liabilities | CHF 8.70bn | CHF 8.93bn | CHF 9.12bn | CHF 6.52bn | CHF 6.50bn | CHF 6.65bn | CHF 6.80bn | CHF 4.71bn | CHF 2.38bn | CHF 2.15bn |
| Debt | CHF 5.52bn | CHF 5.72bn | CHF 5.84bn | CHF 3.89bn | CHF 3.66bn | CHF 4.14bn | CHF 4.37bn | CHF 3.01bn | CHF 722.5m | CHF 718.5m |
| Shareholders' equity | CHF 6.66bn | CHF 7.03bn | CHF 5.92bn | CHF 4.97bn | CHF 4.39bn | CHF 3.29bn | CHF 3.12bn | CHF 1.65bn | CHF 3.38bn | CHF 2.92bn |
| Shares outstanding | 161m | 161m | 160m | 162m | 162m | 164m | 162m | 151m | 152m | 152m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 1.59bn | CHF 1.74bn | CHF 1.65bn | CHF 1.10bn | CHF 1.06bn | CHF 1.37bn | CHF 1.21bn | CHF 744.0m | CHF 651.9m | CHF 735.7m |
| Capital spending | −CHF 348.1m | −CHF 359.0m | −CHF 256.8m | −CHF 266.0m | −CHF 170.6m | −CHF 131.7m | −CHF 179.7m | −CHF 233.4m | −CHF 158.5m | −CHF 149.5m |
| Free cash flow | CHF 1.25bn | CHF 1.38bn | CHF 1.39bn | CHF 833.8m | CHF 893.5m | CHF 1.24bn | CHF 1.03bn | CHF 510.6m | CHF 493.4m | CHF 586.2m |
| Dividends paid | −CHF 288.8m | −CHF 264.7m | −CHF 492.3m | −CHF 445.8m | −CHF 354.5m | −CHF 326.0m | −CHF 290.6m | −CHF 281.8m | −CHF 243.7m | −CHF 198.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 5.59bn | CHF 5.52bn | CHF 2.90bn | CHF 5.68bn | CHF 5.93bn | CHF 3.08bn | CHF 5.83bn | CHF 5.89bn |
| Operating income | CHF 796.8m | CHF 726.4m | CHF 439.8m | CHF 798.1m | CHF 883.6m | CHF 472.5m | CHF 834.1m | CHF 883.6m |
| Net income | CHF 551.3m | CHF 490.9m | CHF 316.1m | CHF 553.8m | CHF 669.6m | CHF 345.3m | CHF 575.9m | CHF 650.9m |
| Diluted earnings per share | 3.43 | 3.06 | 1.97 | 3.45 | 4.17 | 2.15 | 3.59 | 4.06 |
| Cash from operations | CHF 280.0m | CHF 1.30bn | — | CHF 293.0m | CHF 1.13bn | — | CHF 494.0m | CHF 1.21bn |
| Capital spending | −CHF 179.0m | −CHF 174.0m | — | −CHF 173.0m | −CHF 183.0m | — | −CHF 147.0m | −CHF 158.0m |
| Free cash flow | CHF 101.0m | CHF 1.13bn | — | CHF 120.0m | CHF 945.0m | — | CHF 347.0m | CHF 1.05bn |
| Total assets | CHF 16.02bn | CHF 15.36bn | — | CHF 15.39bn | CHF 15.98bn | — | CHF 16.13bn | CHF 15.27bn |
| Cash and short-term investments | CHF 625.3m | CHF 807.6m | — | CHF 520.4m | CHF 712.9m | — | CHF 648.2m | CHF 648.2m |
| Debt | CHF 1.51bn | CHF 5.52bn | — | CHF 6.20bn | CHF 5.72bn | — | CHF 6.41bn | CHF 5.55bn |
| Shareholders' equity | CHF 6.81bn | CHF 6.66bn | — | CHF 6.17bn | CHF 7.03bn | — | CHF 6.41bn | CHF 5.92bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 13.6% | 14.6% | 13.8% | 15.0% | 15.0% | 14.3% |
| Net margin | 9.3% | 10.6% | 9.4% | 11.1% | 11.3% | 10.5% |
| Return on equity | 15.7% | 17.7% | 17.9% | 23.4% | 23.8% | 25.1% |
| Return on assets | 6.8% | 7.8% | 7.1% | 10.1% | 9.6% | 8.3% |
| Free cash flow yield | 6.6% | 7.1% | 6.5% | 4.6% | 4.2% | 5.0% |
| Revenue growth | -4.8% | 4.7% | 7.1% | 13.4% | 17.5% | -2.9% |
| Earnings growth | -16.1% | 17.3% | -8.6% | 10.9% | 27.1% | 9.7% |
| Current ratio | 1.25x | 1.77x | 1.23x | 2.46x | 1.99x | 1.99x |
| Debt to equity | 0.78x | 0.77x | 0.94x | 0.73x | 0.78x | 1.19x |
| Equity ratio | 43.3% | 44.0% | 39.3% | 43.2% | 40.3% | 33.1% |
| Interest coverage | 9.65x | 9.32x | 6.05x | 13.33x | 15.20x | 9.51x |
| R&D as a share of sales | 2.5% | 2.4% | 2.4% | 2.2% | 2.3% | 2.5% |
| Buybacks as a share of market value | 0.1% | -0.2% | 0.9% | 0.2% | 1.0% | -1.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.2% | 7.3% | 7.4% |
| Operating income | -1.1% | 6.2% | 8.5% |
| Net income | -3.5% | 4.9% | 8.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 14.1% | 14.2% | 14.4% | 14.2% |
| Net margin | 10.0% | 10.1% | 10.3% | 10.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 25.0 | 27.8 | 41.3 | 30.8 | 58.8 | 48.0 | 39.2 | 27.6 | 30.6 | 22.1 |
| Price to sales | 2.3 | 3.0 | 3.9 | 3.4 | 6.7 | 5.0 | 3.6 | 2.7 | 3.1 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 26 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.85 | 1.80 | 1.65 | 3.20 | 2.90 | 2.50 | 2.30 | 2.05 |
- 60-for-1 split · 13 Jun 2018
- 10.32-for-1 split · 24 Jun 1993
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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