S 
182.50
+2.18%
Close of 9 Nov 2026, in CHF
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At a glance
Figures in CHF, from our data supplier.
Revenue
CHF 3.56bn
FY2016FY2025
Net income
CHF 292.8m
FY2016FY2025
Free cash flow
CHF 213.0m
FY2016FY2025
Shareholders' equity
CHF 1.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 3.56bn | CHF 3.53bn | CHF 3.28bn | CHF 3.18bn | CHF 3.16bn | CHF 2.97bn | CHF 3.73bn | CHF 3.36bn | CHF 3.05bn | CHF 2.88bn |
| Gross profit | CHF 1.22bn | CHF 1.18bn | CHF 1.08bn | CHF 939.6m | CHF 946.9m | CHF 872.5m | CHF 1.12bn | CHF 978.3m | CHF 936.6m | CHF 879.4m |
| Research and development | CHF 77.6m | CHF 76.4m | CHF 70.8m | CHF 66.4m | CHF 64.4m | CHF 63.8m | CHF 85.6m | CHF 88.3m | CHF 82.8m | CHF 72.8m |
| Operating income | CHF 444.7m | CHF 382.5m | CHF 329.7m | CHF 111.4m | CHF 221.8m | CHF 162.4m | CHF 252.5m | CHF 188.4m | CHF 162.4m | CHF 106.6m |
| Net income | CHF 292.8m | CHF 261.9m | CHF 229.1m | CHF 28.6m | CHF 1.42bn | CHF 83.6m | CHF 154.0m | CHF 113.7m | CHF 83.2m | CHF 59.0m |
| Diluted earnings per share | 8.56 | 7.65 | 6.65 | 0.84 | 41.26 | 2.43 | 4.48 | 3.51 | 2.41 | 1.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CHF 4.62bn | CHF 4.71bn | CHF 4.37bn | CHF 4.70bn | CHF 5.08bn | CHF 5.43bn | CHF 5.16bn | CHF 4.90bn | CHF 4.12bn | CHF 3.74bn |
| Cash and short-term investments | CHF 927.4m | CHF 1.06bn | CHF 977.0m | CHF 1.21bn | CHF 1.53bn | CHF 1.43bn | CHF 1.09bn | CHF 1.10bn | CHF 488.8m | CHF 429.5m |
| Total liabilities | CHF 3.32bn | CHF 3.48bn | CHF 3.27bn | CHF 3.67bn | CHF 3.80bn | CHF 4.01bn | CHF 3.57bn | CHF 3.26bn | CHF 2.41bn | CHF 2.14bn |
| Debt | CHF 1.19bn | CHF 1.16bn | CHF 1.15bn | CHF 1.47bn | CHF 1.63bn | CHF 1.86bn | CHF 1.45bn | CHF 1.33bn | CHF 713.8m | CHF 465.4m |
| Shareholders' equity | CHF 1.29bn | CHF 1.22bn | CHF 1.10bn | CHF 1.02bn | CHF 1.27bn | CHF 1.40bn | CHF 1.58bn | CHF 1.63bn | CHF 1.68bn | CHF 1.58bn |
| Shares outstanding | 34m | 34m | 34m | 34m | 34m | 34m | 34m | 32m | 35m | 34m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CHF 303.0m | CHF 323.8m | CHF 362.2m | CHF 119.3m | CHF 316.4m | CHF 368.7m | CHF 319.7m | CHF 260.8m | CHF 183.7m | CHF 263.2m |
| Capital spending | −CHF 90.0m | −CHF 92.4m | −CHF 65.6m | −CHF 69.8m | −CHF 86.1m | −CHF 105.5m | −CHF 114.9m | −CHF 89.3m | −CHF 78.6m | −CHF 73.5m |
| Free cash flow | CHF 213.0m | CHF 231.4m | CHF 296.6m | CHF 49.5m | CHF 230.3m | CHF 263.2m | CHF 204.8m | CHF 171.5m | CHF 105.1m | CHF 189.7m |
| Dividends paid | −CHF 264.6m | −CHF 86.5m | −CHF 80.9m | −CHF 80.6m | −CHF 91.9m | −CHF 92.6m | −CHF 81.2m | −CHF 43.1m | −CHF 119.4m | −CHF 617.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CHF 1.67bn | CHF 1.81bn | CHF 1.74bn | CHF 1.68bn | CHF 1.83bn | CHF 1.70bn | CHF 1.68bn | CHF 1.60bn |
| Gross profit | CHF 583.3m | CHF 637.9m | CHF 585.4m | CHF 503.3m | CHF 610.1m | CHF 573.1m | CHF 567.7m | CHF 516.9m |
| Operating income | CHF 196.9m | CHF 248.3m | CHF 192.7m | CHF 184.0m | CHF 209.6m | CHF 176.2m | CHF 178.0m | CHF 142.4m |
| Net income | CHF 137.8m | CHF 165.3m | CHF 127.5m | CHF 137.9m | CHF 145.3m | CHF 116.6m | CHF 125.2m | CHF 104.0m |
| Diluted earnings per share | 4.05 | 4.83 | 3.73 | 4.03 | 4.24 | 3.40 | 3.63 | 3.02 |
| Cash from operations | CHF 57.0m | CHF 223.0m | CHF 79.0m | — | CHF 226.0m | CHF 97.0m | CHF 228.0m | CHF 133.0m |
| Capital spending | −CHF 44.0m | −CHF 51.0m | −CHF 38.0m | — | −CHF 43.0m | −CHF 39.0m | −CHF 36.0m | −CHF 29.0m |
| Free cash flow | CHF 13.0m | CHF 172.0m | CHF 41.0m | — | CHF 183.0m | CHF 58.0m | CHF 192.0m | CHF 104.0m |
| Total assets | CHF 4.72bn | CHF 4.62bn | CHF 4.50bn | — | CHF 4.71bn | CHF 4.57bn | CHF 4.37bn | CHF 4.54bn |
| Cash and short-term investments | CHF 843.3m | CHF 927.4m | CHF 922.1m | — | CHF 1.06bn | CHF 932.5m | CHF 977.0m | CHF 1.16bn |
| Debt | CHF 331.2m | CHF 1.19bn | CHF 1.15bn | — | CHF 1.16bn | CHF 1.16bn | CHF 1.08bn | CHF 1.46bn |
| Shareholders' equity | CHF 1.31bn | CHF 1.29bn | CHF 1.13bn | — | CHF 1.22bn | CHF 1.14bn | CHF 1.10bn | CHF 938.8m |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 34.4% | 33.5% | 33.0% | 29.5% | 30.0% | 29.4% |
| Operating margin | 12.5% | 10.8% | 10.1% | 4.3% | 7.1% | 4.6% |
| Net margin | 8.2% | 7.4% | 7.0% | 0.9% | 44.9% | 2.8% |
| Return on equity | 22.6% | 21.4% | 20.9% | 2.8% | 111.2% | 6.0% |
| Return on assets | 6.3% | 5.6% | 5.2% | 0.6% | 27.9% | 1.5% |
| Free cash flow yield | 6.8% | 7.2% | 7.3% | 3.3% | 6.9% | 8.1% |
| Revenue growth | 0.7% | 7.6% | 3.2% | 0.8% | 6.3% | -20.4% |
| Earnings growth | 11.8% | 14.3% | 701.0% | -98.0% | 1594.6% | -45.7% |
| Current ratio | 1.33x | 1.24x | 1.25x | 1.35x | 1.47x | 1.56x |
| Debt to equity | 0.86x | 0.89x | 0.99x | 1.37x | 1.23x | 1.26x |
| Equity ratio | 28.0% | 26.0% | 25.1% | 21.8% | 25.1% | 25.9% |
| Interest coverage | 18.23x | 13.06x | 13.55x | 5.29x | 9.30x | 5.63x |
| R&D as a share of sales | 2.2% | 2.2% | 2.2% | 2.1% | 2.0% | 2.1% |
| Buybacks as a share of market value | 0.1% | 0.6% | -1.2% | 0.8% | 0.2% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.8% | 3.7% | 1.8% |
| Operating income | 58.6% | 22.3% | 9.9% |
| Net income | 117.1% | 28.5% | 14.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.0% | 32.7% | 31.8% | 31.1% |
| Operating margin | 11.7% | 9.4% | 8.4% | 7.1% |
| Net margin | 7.8% | 6.0% | 11.8% | 7.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.2 | 17.1 | 12.9 | 85.7 | 2.2 | 38.3 | 24.1 | 22.2 | 49.1 | 61.2 |
| Price to sales | 1.4 | 1.3 | 0.9 | 0.8 | 1.0 | 1.1 | 1.0 | 0.8 | 1.3 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 23 years. Last went ex-dividend on 17 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.75 | 4.25 | 3.75 | 3.50 | 3.50 | 4.00 | 4.00 | 3.50 |
- 10-for-1 split · 14 Apr 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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