Swiss holding company that owns private hospitals and clinics (Swiss Medical Network) plus hotel and hospitality assets.
Swiss holding company that owns private hospitals and clinics (Swiss Medical Network) plus hotel and hospitality assets.
In one line: A diversified private-hospital and hospitality holding company.
Moat: narrow (brand, installed base, regulatory licence). Licensed private-hospital network with established referral base in Switzerland's private healthcare market.
Headquarters: Fribourg, Switzerland · Founded: 1994 · Employees: 4,870
Size Aevis Victoria (AEVS.SW) is a Switzerland Health Care company (Hospital/Nursing Management) with a market value of $1.49B, the 107th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 14.30 on 6 Nov 2026.
Performance Over six months the shares gained 8.8%, against -5.5% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 14.9% over the last twelve months (peer median +6.5%); the operating margin is -5.9% (peer median 9.9%).
Valuation It trades at 107.9× forward earnings against a peer median of 27.3× (3rd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.7 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 1.20B | CHF 1.13B | CHF 966M | CHF 914M | CHF 1.03B |
| Revenue growth | — | +17% | +6% | -11% | — |
| Gross profit | CHF 196M | CHF 193M | CHF 174M | CHF 170M | CHF 185M |
| EBITDA | CHF 9.10M | CHF 24.9M | CHF 22.0M | CHF 24.3M | CHF 39.2M |
| Net income | -CHF 18.9M | -CHF 20.1M | -CHF 2.87M | -CHF 39.3M | CHF 58.8M |
| Free cash flow | CHF 22.5M | CHF 36.0M | CHF 12.8M | -CHF 43.8M | CHF 58.8M |
| Capital expenditure | CHF 93.6M | CHF 67.7M | CHF 65.3M | CHF 109M | CHF 74.0M |
| Total debt | n/a | CHF 950M | CHF 1.07B | CHF 1.00B | CHF 970M |
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| Measure | AEVS.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.0% | +0.3% | 7th lowest of 21 |
| 6-month return | +8.8% | -5.5% | 7th highest of 21 |
| Distance from 52-week high | -10.6% | -22.2% | 5th highest of 21 |
| Revenue growth (TTM) | +14.9% | +6.5% | 8th highest of 21 |
| Operating margin | -5.9% | 9.9% | lowest of 20 |
| Forward P/E | 107.9× | 27.3× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 26.6% | 13.6% | 3rd most demanding of 16 |
| Growth delivered (Del g) | +10.2% | +8.7% | 7th highest of 16 |
| Hurdle (Req g minus delivered) | +16.4 pp | +2.7 pp | 3rd most demanding of 16 |
| ROIC minus cost of capital | -8.7 pp | -1.5 pp | lowest of 20 |
| Net debt / EBITDA | 103.2× | 2.5× | most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aevis Victoria AEVS.SW | Switzerland | $1.49B | +9% | +15% | -6% | 107.9× | 26.6% | +10.2% |
| Sanbo Hospital Management 301293.SZ | China | $1.48B | -21% | +17% | 6% | 148.9× | n/a | n/a |
| Xi'an International Medical Investment 000516.SZ | China | $1.54B | 0% | -1% | -2% | n/a | 13.6% | +20.6% |
| Sienna Senior Living SIA.TO | Canada | $1.63B | -11% | +16% | 10% | 38.1× | 19.6% | +8.6% |
| Spire Healthcare SPI.L | United Kingdom | $1.34B | +68% | +2% | 8% | 19.5× | 9.8% | +11.4% |
| Rainbow Childrens Medicare RAINBOW.NS | India | $1.34B | -4% | +23% | 22% | 39.4× | 30.2% | +21.2% |
| Raffles Medical BSL.SI | Singapore | $1.25B | -15% | -3% | 11% | 27.3× | -2.4% | +6.1% |
| CVS CVSG.L | United Kingdom | $1.23B | +20% | +6% | 11% | 14.3× | 13.7% | +6.9% |
| Extendicare EXE.TO | Canada | $1.87B | -9% | +31% | 9% | 19.4× | 11.2% | +8.5% |
| Huaxia Eye Hospital 301267.SZ | China | $1.92B | -16% | +2% | 15% | 24.7× | 3.8% | +10.4% |
| Park Medi World PARKHOSPS.NS | India | $1.15B | +2% | +21% | n/a | 28.3× | 30.5% | +10.2% |
| Ramsay Generale de Sante GDS.PA | France | $1.09B | -15% | +3% | 4% | n/a | 6.3% | +6.0% |
| Rhon-klinikum RHK.DE | Germany | $1.08B | +14% | +5% | 3% | 22.5× | n/a | n/a |
| Yatharth Hospital and Trauma Care Services YATHARTH.NS | India | $1.05B | +25% | +50% | 16% | 41.0× | n/a | n/a |
| Brookdale Senior Living BKD | United States | $2.15B | -31% | -4% | 5% | 127.7× | 22.4% | -1.4% |
| Jupiter Life Line Hospitals JLHL.NS | India | $1,000M | +14% | +17% | 16% | 48.5× | n/a | n/a |
| Thomson Medical A50.SI | Singapore | $953M | -21% | +6% | 10% | n/a | 20.9% | +11.8% |
| HealthCare Global Enterprises HCG.NS | India | $950M | -2% | +14% | 8% | 67.3× | n/a | n/a |
| Clinica Baviera CBAV.MC | Spain | $940M | -7% | +11% | 20% | 18.2× | 0.7% | +19.7% |
| Ardent Health ARDT | United States | $2.44B | +71% | +3% | 4% | 14.5× | 4.0% | +8.7% |
| Topchoice Medical 600763.SS | China | $2.51B | -11% | +7% | 26% | 26.7× | 13.6% | +6.9% |