285.80
-0.76%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 3.61bn
FY2017FY2026
Net income
CHF 430.6m
FY2017FY2026
Free cash flow
CHF 602.7m
FY2017FY2026
Shareholders' equity
CHF 2.61bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 3.61bn | CHF 3.61bn | CHF 3.63bn | CHF 3.74bn | CHF 3.36bn | CHF 2.60bn | CHF 2.92bn | CHF 2.76bn | CHF 2.65bn | CHF 2.40bn |
| Gross profit | CHF 2.66bn | CHF 2.68bn | CHF 2.62bn | CHF 2.65bn | CHF 2.46bn | CHF 1.88bn | CHF 2.10bn | CHF 1.98bn | CHF 1.87bn | CHF 1.65bn |
| Research and development | CHF 234.5m | CHF 233.0m | CHF 261.0m | CHF 271.0m | CHF 257.9m | CHF 217.7m | CHF 183.1m | CHF 161.7m | CHF 156.5m | CHF 182.8m |
| Operating income | CHF 675.8m | CHF 719.8m | CHF 669.9m | CHF 746.7m | CHF 760.0m | CHF 619.5m | CHF 510.0m | CHF 536.2m | CHF 483.0m | CHF 423.7m |
| Net income | CHF 430.6m | CHF 540.5m | CHF 601.0m | CHF 647.5m | CHF 649.0m | CHF 581.0m | CHF 483.2m | CHF 454.1m | CHF 400.1m | CHF 349.2m |
| Diluted earnings per share | 7.13 | 9.06 | 10.05 | 10.83 | 10.35 | 9.18 | 7.66 | 7.00 | 6.10 | 5.33 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 5.63bn | CHF 5.92bn | CHF 5.79bn | CHF 5.55bn | CHF 5.59bn | CHF 5.93bn | CHF 4.49bn | CHF 4.29bn | CHF 4.30bn | CHF 3.94bn |
| Cash and short-term investments | CHF 722.1m | CHF 687.1m | CHF 513.8m | CHF 414.8m | CHF 612.0m | CHF 1.77bn | CHF 452.7m | CHF 374.8m | CHF 552.2m | CHF 374.9m |
| Total liabilities | CHF 2.99bn | CHF 3.24bn | CHF 3.30bn | CHF 3.32bn | CHF 3.16bn | CHF 3.15bn | CHF 2.46bn | CHF 1.92bn | CHF 1.83bn | CHF 1.80bn |
| Debt | CHF 1.71bn | CHF 1.76bn | CHF 1.79bn | CHF 1.81bn | CHF 1.48bn | CHF 1.83bn | CHF 1.06bn | CHF 609.8m | CHF 759.4m | CHF 780.3m |
| Shareholders' equity | CHF 2.61bn | CHF 2.66bn | CHF 2.47bn | CHF 2.21bn | CHF 2.41bn | CHF 2.75bn | CHF 2.01bn | CHF 2.35bn | CHF 2.45bn | CHF 2.11bn |
| Shares outstanding | 60m | 60m | 60m | 60m | 63m | 63m | 63m | 65m | 66m | 66m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 684.1m | CHF 793.7m | CHF 753.3m | CHF 763.4m | CHF 922.5m | CHF 754.7m | CHF 840.4m | CHF 533.2m | CHF 523.4m | CHF 522.4m |
| Capital spending | −CHF 81.4m | −CHF 137.6m | −CHF 128.6m | −CHF 154.3m | −CHF 106.6m | −CHF 89.2m | −CHF 128.8m | −CHF 77.0m | −CHF 61.2m | −CHF 98.2m |
| Free cash flow | CHF 602.7m | CHF 656.1m | CHF 624.7m | CHF 609.1m | CHF 815.9m | CHF 665.5m | CHF 711.6m | CHF 456.2m | CHF 462.2m | CHF 424.2m |
| Dividends paid | −CHF 262.3m | −CHF 256.2m | −CHF 274.1m | −CHF 267.6m | −CHF 201.6m | −CHF 200,000 | −CHF 186.5m | −CHF 169.8m | −CHF 150.3m | −CHF 137.2m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 1.79bn | CHF 1.82bn | CHF 1.02bn | CHF 1.83bn | CHF 1.87bn | CHF 1.75bn | CHF 1.89bn | CHF 841.0m |
| Gross profit | CHF 1.38bn | CHF 1.28bn | CHF 740.6m | CHF 1.31bn | CHF 1.37bn | CHF 1.26bn | CHF 1.36bn | CHF 615.1m |
| Operating income | CHF 416.1m | CHF 259.7m | CHF 206.4m | CHF 279.2m | CHF 364.3m | CHF 305.6m | CHF 382.9m | CHF 183.8m |
| Net income | CHF 242.1m | CHF 188.5m | CHF 165.9m | CHF 208.6m | CHF 356.1m | CHF 244.9m | CHF 355.6m | CHF 165.9m |
| Diluted earnings per share | 4.01 | 3.16 | 2.78 | 3.49 | 5.96 | 4.09 | 5.95 | 2.65 |
| Cash from operations | CHF 446.0m | CHF 241.0m | CHF 578.0m | CHF 215.0m | CHF 500.0m | CHF 252.0m | CHF 480.0m | CHF 235.0m |
| Capital spending | −CHF 45.0m | −CHF 49.0m | −CHF 67.0m | −CHF 70.0m | −CHF 75.0m | −CHF 53.0m | −CHF 85.0m | −CHF 26.0m |
| Free cash flow | CHF 401.0m | CHF 192.0m | CHF 511.0m | CHF 145.0m | CHF 425.0m | CHF 199.0m | CHF 395.0m | CHF 209.0m |
| Total assets | CHF 5.63bn | CHF 5.51bn | CHF 5.92bn | CHF 5.46bn | CHF 5.79bn | CHF 5.39bn | CHF 5.55bn | CHF 1.40bn |
| Cash and short-term investments | CHF 722.1m | CHF 511.0m | CHF 687.1m | CHF 278.9m | CHF 513.8m | CHF 263.1m | CHF 414.8m | CHF 152.7m |
| Debt | CHF 1.54bn | CHF 1.92bn | CHF 1.82bn | CHF 1.91bn | CHF 1.86bn | CHF 67.7m | CHF 1.89bn | — |
| Shareholders' equity | CHF 2.61bn | CHF 2.43bn | CHF 2.66bn | CHF 2.29bn | CHF 2.47bn | CHF 2.11bn | CHF 2.21bn | CHF 608.2m |
Financial ratios
Data as of 5 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 73.7% | 74.3% | 72.3% | 70.8% | 73.2% | 72.1% |
| Operating margin | 18.7% | 19.9% | 18.5% | 20.0% | 22.6% | 23.8% |
| Net margin | 11.9% | 15.0% | 16.6% | 17.3% | 19.3% | 22.3% |
| Return on equity | 16.5% | 20.3% | 24.3% | 29.3% | 26.9% | 21.1% |
| Return on assets | 7.6% | 9.1% | 10.4% | 11.7% | 11.6% | 9.8% |
| Free cash flow yield | 5.0% | 6.2% | 5.8% | 6.1% | 6.5% | 5.3% |
| Revenue growth | -0.2% | -0.4% | -3.0% | 11.1% | 29.3% | -10.8% |
| Earnings growth | -20.3% | -10.1% | -7.2% | -0.2% | 11.7% | 20.2% |
| Current ratio | 1.75x | 1.27x | 1.45x | 1.37x | 1.10x | 2.09x |
| Debt to equity | 0.59x | 0.59x | 0.64x | 0.72x | 0.53x | 0.59x |
| Equity ratio | 46.4% | 45.0% | 42.7% | 39.8% | 43.1% | 46.4% |
| Interest coverage | 23.55x | 25.71x | 23.26x | 32.32x | 22.03x | 25.81x |
| R&D as a share of sales | 6.5% | 6.4% | 7.2% | 7.2% | 7.7% | 8.4% |
| Buybacks as a share of market value | -1.2% | 0.2% | 0.1% | 4.6% | 0.9% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.2% | 6.7% | 5.7% |
| Operating income | -3.3% | 1.8% | 5.3% |
| Net income | -12.7% | -5.8% | 2.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.0% | 72.7% | 72.7% | 71.7% |
| Operating margin | 19.3% | 19.3% | 20.4% | 19.6% |
| Net margin | 13.5% | 15.2% | 16.8% | 16.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 40.6 | 22.8 | 29.5 | 25.4 | 21.2 | 39.0 | 30.0 | 31.6 | 26.3 | 28.6 |
| Price to sales | 4.8 | 3.4 | 4.9 | 4.4 | 4.1 | 8.7 | 5.0 | 5.2 | 4.0 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 19 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.70 | 4.40 | 4.30 | 4.60 | 4.40 | 3.20 | 2.881 | 2.583 |
- 1-to-1 reverse split · 16 Jun 2020
- 5-for-0.049807 split · 24 Sept 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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