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Swiss meat and food processing company producing sausages, cured meats and convenience foods, majority owned by retailer Coop.
Swiss meat and food processing company producing sausages, cured meats and convenience foods, majority owned by retailer Coop.
Slaughters, cuts and processes meat and sells it fresh and cured mainly through supermarkets, with its parent Coop the largest single buyer, and through restaurants and caterers. Hilcona makes ready meals and Hügli soups and sauces, and it owns meat and convenience operations in Germany and France.
In one line: A Swiss meat processor like a smaller Hormel Foods.
Moat: narrow (brand, scale, distribution). Leading Swiss meat brand with guaranteed retail shelf space via majority owner Coop's supermarket network.
Headquarters: Basel, Switzerland · Founded: 1869 · Employees: 13,709
Size Bell Food (BELL.SW) is a Switzerland Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $1.98B, the 94th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 258.00 on 6 Nov 2026.
Performance Over six months the shares gained 42.4%, against -2.0% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +6.5%); the operating margin is 2.6% (peer median 4.6%).
Valuation It trades at 10.9× forward earnings against a peer median of 20.3× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points below its cost of capital (5.0% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 4.90B | CHF 4.88B | CHF 4.73B | CHF 4.51B | CHF 4.32B |
| Revenue growth | — | +3% | +5% | +5% | — |
| Gross profit | CHF 565M | CHF 561M | CHF 624M | CHF 591M | CHF 554M |
| EBITDA | CHF 385M | CHF 436M | CHF 351M | CHF 339M | CHF 326M |
| Net income | CHF 79.2M | CHF 69.6M | CHF 124M | CHF 130M | CHF 128M |
| Free cash flow | CHF 79.2M | CHF 12.8M | -CHF 1.50M | -CHF 7.00M | -CHF 1.60M |
| Capital expenditure | CHF 287M | CHF 272M | CHF 313M | CHF 330M | CHF 255M |
| Total debt | n/a | CHF 996M | CHF 1.03B | CHF 1.23B | CHF 1.06B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bell Food BELL.SW | $1.98B | +42% | +2% | 3% | 10.9× | 2.9% |
| Hormel Foods HRL | $12.1B | +7% | +1% | 7% | 14.4× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BELL.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.0% | +0.9% | 5th highest of 21 |
| 6-month return | +42.4% | -2.0% | 2nd highest of 20 |
| Distance from 52-week high | -1.5% | -18.9% | 4th highest of 21 |
| Revenue growth (TTM) | +1.7% | +6.5% | 8th lowest of 21 |
| Operating margin | 2.6% | 4.6% | 8th lowest of 21 |
| Forward P/E | 10.9× | 20.3× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 2.9% | 7.6% | 7th least demanding of 15 |
| Growth delivered (Del g) | +4.0% | +10.9% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | -1.0 pp | -3.7 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | -0.9 pp | -1.1 pp | 9th highest of 21 |
| EV / EBITDA | 6.5× | 9.3× | 3rd cheapest of 15 |
| Net debt / EBITDA | 2.3× | 1.7× | 6th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bell Food BELL.SW | Switzerland | $1.98B | +42% | +2% | 3% | 10.9× | 2.9% | +4.0% |
| Ezaki Glico 2206.T | Japan | $2.07B | -11% | +10% | 3% | 35.7× | 7.5% | +1.0% |
| China Youran Dairy 9858.HK | Hong Kong | $2.15B | -4% | +7% | -2% | 8.0× | 17.8% | +11.1% |
| Austevoll Seafood AUSS.OL | Norway | $1.79B | -8% | -1% | 7% | 11.4× | 2.5% | +11.9% |
| Morinaga Milk Industry 2264.T | Japan | $2.21B | -9% | +2% | 6% | 14.4× | n/a | n/a |
| New Hope Dairy 002946.SZ | China | $2.22B | -13% | +7% | 9% | 17.6× | 1.9% | +10.7% |
| Milky Mist Dairy Food MILKYMIST.NS | India | $2.42B | n/a | +34% | 8% | 79.2× | n/a | n/a |
| Hatsun Agro Product HATSUN.NS | India | $2.52B | +8% | +18% | 5% | 49.8× | 25.4% | +12.4% |
| Shanghai Milkground Food Tech 600882.SS | China | $1.55B | -1% | +26% | 4% | 32.0× | 11.1% | +14.7% |
| Itoham Yonekyu 2296.T | Japan | $1.53B | -13% | +3% | 3% | 13.2× | n/a | n/a |
| Fraser & Neave F99.SI | Singapore | $1.53B | -8% | -3% | 10% | n/a | 0.1% | +4.8% |
| Bright Dairy & Food 600597.SS | China | $1.43B | -6% | -3% | 0% | 30.6× | 18.8% | -1.1% |
| Leroy Seafood LSG.OL | Norway | $2.74B | -2% | +1% | 6% | 14.6× | 7.7% | +11.5% |
| Bakkafrost P/F BAKKA.OL | Norway | $2.77B | +4% | +7% | 14% | 23.1× | 9.5% | +10.1% |
| Bega Cheese BGA.AX | Australia | $1.36B | +23% | +7% | 3% | 24.9× | 18.4% | +12.7% |
| MEGMILK SNOW BRAND 2270.T | Japan | $1.36B | +12% | 0% | 3% | 7.5× | n/a | n/a |
| Scandi Standard SCST.ST | Sweden | $1.35B | +38% | +8% | 5% | 27.2× | 1.8% | +7.2% |
| Zhejiang Yiming Food 605179.SS | China | $1.27B | +22% | 0% | 2% | n/a | n/a | n/a |
| China Feihe 6186.HK | Hong Kong | $3.16B | -20% | -4% | 15% | 11.8× | -14.7% | -1.2% |
| Shandong Oriental Ocean Sci-Tech 002086.SZ | China | $1.17B | +94% | +6% | -35% | n/a | n/a | n/a |
| NewPrinces NWL.MI | Italy | $1.16B | +40% | +81% | 1% | n/a | 0.6% | +44.5% |