Loading…
Swiss-German maker of door hardware, locks and access-control systems for buildings, formed from the dorma-Kaba merger.
Swiss-German maker of door hardware, locks and access-control systems for buildings, formed from the dorma-Kaba merger.
Sells locks, door hardware and electronic access systems through installers, security specialists and distributors, increasingly adding recurring income from software, maintenance and service on installed systems. Europe, the Middle East and Africa form the largest region.
In one line: A door hardware/access-control maker like a smaller Allegion.
Moat: narrow (brand, installed base, distribution). Established brand and installed base in commercial door/access systems, though the market has strong incumbents.
Headquarters: Rumlang, Switzerland · Founded: 2015 · Employees: 15,347
Size dormakaba (DOKA.SW) is a Switzerland Information Technology company (Computer Communications) with a market value of $3.47B, the 72nd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 68.20 on 6 Nov 2026.
Performance Over six months the shares gained 27.7%, against +0.2% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 3rd highest of 12 in its peer set.
Growth Revenue fell 2.7% over the last twelve months (peer median +6.3%); the operating margin is 12.7% (peer median 4.1%).
Valuation It trades at 21.2× forward earnings against a peer median of 18.1× (3rd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | CHF 2.79B | CHF 2.79B | CHF 2.87B | CHF 2.84B | CHF 2.85B |
| Revenue growth | — | -3% | +1% | 0% | — |
| Gross profit | CHF 1.16B | CHF 1.13B | CHF 1.15B | CHF 1.09B | CHF 1.08B |
| EBITDA | CHF 464M | CHF 436M | CHF 428M | CHF 412M | CHF 374M |
| Net income | CHF 97.0M | CHF 97.0M | CHF 97.9M | CHF 42.2M | CHF 45.7M |
| Free cash flow | CHF 210M | CHF 210M | CHF 193M | CHF 225M | CHF 227M |
| Capital expenditure | CHF 129M | CHF 129M | CHF 107M | CHF 98.6M | CHF 98.5M |
| Total debt | n/a | CHF 502M | CHF 800M | CHF 605M | CHF 719M |
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 |
|---|---|---|---|---|---|---|
| dormakaba DOKA.SW | $3.47B | +28% | -3% | 13% | 21.2× | -9.3% |
| Allegion ALLE | $15.6B | +39% | +10% | 22% | 18.7× | 7.6% |
| ASSA ABLOY ASSA-B.ST | $44.8B | +15% | 0% | 17% | 24.4× | 9.0% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
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 | DOKA.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.3% | -9.9% | 2nd highest of 12 |
| 6-month return | +27.7% | +0.2% | 3rd highest of 12 |
| Distance from 52-week high | -5.8% | -53.9% | highest of 12 |
| Revenue growth (TTM) | -2.7% | +6.3% | 4th lowest of 12 |
| Operating margin | 12.7% | 4.1% | 2nd highest of 12 |
| Forward P/E | 21.2× | 18.1× | 3rd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | -9.3% | 12.0% | least demanding of 6 |
| Growth delivered (Del g) | +2.2% | +5.3% | 2nd lowest of 6 |
| Hurdle (Req g minus delivered) | -11.5 pp | -1.3 pp | least demanding of 6 |
| ROIC minus cost of capital | +22.8 pp | -3.7 pp | highest of 12 |
| EV / EBITDA | 7.3× | 18.8× | cheapest of 5 |
| Net debt / EBITDA | 0.8× | -2.0× | 2nd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| dormakaba DOKA.SW | Switzerland | $3.47B | +28% | -3% | 13% | 21.2× | -9.3% | +2.2% |
| CIG Shanghai 6166.HK | Hong Kong | $4.11B | -63% | +45% | 11% | 9.7× | n/a | n/a |
| Easy Smart 2442.HK | Hong Kong | $2.72B | +72% | -33% | -15% | n/a | n/a | n/a |
| Fujian Star-Net Communication 002396.SZ | China | $2.61B | +13% | +18% | 4% | 19.3× | n/a | n/a |
| CICT Mobile Communication Technology Co., Ltd.Class A 688387.SS | China | $5.65B | -44% | -2% | -7% | n/a | n/a | n/a |
| Nohmi Bosai 6744.T | Japan | $1.58B | 0% | +6% | 14% | 16.9× | -4.4% | +5.3% |
| Jade Bird Integrated Technologies 002960.SZ | China | $1.40B | -12% | -5% | 6% | 23.8× | 12.0% | +13.2% |
| Seojin System 178320.KS | South Korea | $1.33B | -52% | +9% | -5% | n/a | n/a | n/a |
| Radware RDWR | United States | $1.26B | +9% | +11% | 4% | 22.0× | 32.4% | +3.8% |
| Shenzhen BSC Technology 300951.SZ | China | $1.11B | +33% | +16% | -5% | 19.3× | n/a | n/a |
| Hochiki 6745.T | Japan | $952M | 0% | +5% | 12% | 14.7× | -0.1% | +6.7% |
| Guangdong Shenglu Telecommunication Tech 002446.SZ | China | $928M | -32% | -10% | 0% | 16.9× | 43.5% | +1.0% |