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Austrian motorcycle maker (KTM, Husqvarna, GASGAS brands) majority-owned by India's Bajaj Auto after restructuring.
Austrian motorcycle maker (KTM, Husqvarna, GASGAS brands) majority-owned by India's Bajaj Auto after restructuring.
Sells KTM, Husqvarna and GASGAS motorcycles to dealers and distributors, so revenue reflects how many bikes it ships into the dealer network each season and how dealers' stocks are managed. After the KTM unit's 2024 restructuring, India's Bajaj Auto became the controlling shareholder; Bajaj already built the smaller bikes in India.
In one line: A European performance-motorcycle maker, akin to a smaller Harley-Davidson.
Moat: narrow (brand, distribution). Strong performance-motorcycle brand (KTM) with racing heritage and dealer network.
Headquarters: Munderfing, Austria · Employees: 3,782
Size Bajaj Mobility (BMAG.SW) is a Switzerland Industrials company (Miscellaneous Commercial Services) with a market value of $1.28B, the 113th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 30.85 on 6 Nov 2026.
Performance Over six months the shares gained 85.8%, against -13.2% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 47.1% over the last twelve months (peer median +13.6%); the operating margin is -44.1% (peer median 9.7%).
Valuation It trades at 10.4× forward earnings against a peer median of 38.2× (2nd cheapest of 14).
Capital Return on invested capital runs 34.9 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | CHF 946M | CHF 1.79B | CHF 2.59B | CHF 2.45B |
| Revenue growth | — | -47% | -31% | +6% | — |
| Gross profit | n/a | -CHF 16.8M | -CHF 114M | CHF 627M | CHF 672M |
| EBITDA | n/a | -CHF 287M | -CHF 436M | CHF 331M | CHF 408M |
| Net income | n/a | CHF 558M | -CHF 943M | CHF 77.9M | CHF 171M |
| Free cash flow | n/a | -CHF 106M | -CHF 666M | -CHF 412M | CHF 33.9M |
| Capital expenditure | n/a | CHF 84.7M | CHF 251M | CHF 304M | CHF 247M |
| Total debt | CHF 902M | CHF 871M | CHF 1.69B | CHF 962M | CHF 529M |
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 |
|---|---|---|---|---|---|---|
| Bajaj Mobility BMAG.SW | $1.28B | +86% | -47% | -44% | 10.4× | n/a |
| Harley-Davidson HOG | $3.40B | +28% | -15% | -4% | 18.6× | 0.4% |
| Honda Motor 7267.T | $45.2B | +45% | +4% | -1% | 11.7× | 18.2% |
| Yamaha Motor 7272.T | $10.1B | +54% | +10% | 6% | 9.3× | 4.2% |
| Bayerische Motoren Werke BMW.DE | $40.3B | -22% | -6% | 6% | 9.7× | n/a |
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 | BMAG.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.2% | -6.9% | 5th highest of 21 |
| 6-month return | +85.8% | -13.2% | 2nd highest of 21 |
| Distance from 52-week high | -16.4% | -36.9% | 4th highest of 21 |
| Revenue growth (TTM) | -47.1% | +13.6% | lowest of 21 |
| Operating margin | -44.1% | 9.7% | 2nd lowest of 21 |
| Forward P/E | 10.4× | 38.2× | 2nd cheapest of 14 |
| ROIC minus cost of capital | -34.9 pp | -0.8 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bajaj Mobility BMAG.SW | Switzerland | $1.28B | +86% | -47% | -44% | 10.4× | n/a | n/a |
| Shanghai MicroPort EP Medtech 688351.SS | China | $1.27B | -23% | +20% | 3% | 135.2× | 41.7% | +26.7% |
| CRA International CRAI | United States | $1.24B | +42% | +11% | 10% | 22.4× | n/a | n/a |
| Shanxi Huaxiang 603112.SS | China | $1.24B | -26% | +9% | 11% | 12.1× | 1.4% | +16.2% |
| Vcanbio Cell & Gene Engineering 600645.SS | China | $1.23B | -32% | -6% | 12% | 45.0× | 11.0% | +1.9% |
| Suzhou Novoprotein Scientific 688137.SS | China | $1.33B | +161% | +8% | -62% | n/a | n/a | n/a |
| Jadard Technology 688252.SS | China | $1.22B | -12% | +6% | 12% | 23.8× | 13.3% | +31.3% |
| Central Mine Planning & Design Institute CMPDI.NS | India | $1.34B | -15% | +10% | 33% | n/a | 4.0% | +18.7% |
| Nittetsu Mining 1515.T | Japan | $1.34B | +10% | +13% | 9% | n/a | n/a | n/a |
| TKC 9746.T | Japan | $1.34B | +21% | +14% | 22% | 18.1× | -9.9% | +4.2% |
| Changchun Up Optotech 002338.SZ | China | $1.34B | -39% | +22% | 2% | 43.4× | n/a | n/a |
| Resolute Holdings Management RHLD | United States | $1.20B | +39% | +10% | 9% | n/a | 26.0% | n/a |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 14.1× | -8.2% | +13.8% |
| China East Education 0667.HK | Hong Kong | $1.18B | -18% | +16% | 22% | 8.4× | -6.1% | +4.1% |
| Shenzhen Aoni Electronic 301189.SZ | China | $1.18B | -17% | +139% | 2% | n/a | n/a | n/a |
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | n/a | 56.7% | +0.4% |
| Wintech Nano (Suzhou) 688757.SS | China | $1.39B | -18% | +23% | 7% | n/a | n/a | n/a |
| Beijing Haitian Ruisheng Science Technology 688787.SS | China | $1.17B | -1% | +34% | 4% | 163.5× | n/a | n/a |
| Concord Biotech CONCORDBIO.NS | India | $1.40B | +2% | +4% | 28% | 38.2× | 47.1% | +11.6% |
| SBT Ultrasonic Technology 688392.SS | China | $1.16B | -19% | +42% | 17% | 52.9× | n/a | n/a |
| Siglent Technologies 688112.SS | China | $1.41B | -5% | +30% | 24% | 46.2× | 31.3% | +22.0% |