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Swiss maker of high-performance specialty polymers (polyamides) used in automotive, electronics and industrial applications.
Swiss maker of high-performance specialty polymers (polyamides) used in automotive, electronics and industrial applications.
Sells specialty plastics to carmakers and electronics suppliers who specify a particular grade into a component design, so volumes follow vehicle and device production over the program's life. The Blocher family controls the company, with Magdalena Martullo-Blocher as chief executive.
In one line: A Swiss DuPont (specialty polymers) peer.
Moat: narrow (process know-how, IP / patents). Proprietary polymer formulations qualified into demanding automotive/electronics applications.
Headquarters: Domat/Ems, Switzerland · Founded: 1936 · Employees: 2,657
Size Ems-chemie (EMSN.SW) is a Switzerland Materials company (Chemicals: Specialty) with a market value of $24.3B, the 23rd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 848.50 on 6 Nov 2026.
Performance Over six months the shares gained 28.1%, against -14.7% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 3.2% over the last twelve months (peer median +2.2%); the operating margin is 29.9% (peer median 10.6%).
Valuation It trades at 39.4× forward earnings against a peer median of 16.8× (2nd most expensive of 19).
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 +7 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 31.1 points above 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 1.94B | CHF 1.95B | CHF 2.07B | CHF 2.19B | CHF 2.44B |
| Revenue growth | — | -6% | -5% | -10% | — |
| Gross profit | n/a | CHF 666M | CHF 651M | CHF 595M | CHF 714M |
| EBITDA | CHF 634M | CHF 609M | CHF 593M | CHF 537M | CHF 653M |
| Net income | CHF 474M | CHF 467M | CHF 461M | CHF 458M | CHF 532M |
| Free cash flow | CHF 555M | CHF 509M | CHF 459M | CHF 572M | CHF 746M |
| Capital expenditure | CHF 26.6M | CHF 28.4M | CHF 34.0M | CHF 49.4M | CHF 94.0M |
| Total debt | n/a | CHF 32.5M | CHF 8.78M | CHF 32.3M | CHF 13.5M |
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 |
|---|---|---|---|---|---|---|
| Ems-chemie EMSN.SW | $24.3B | +28% | -3% | 30% | 39.4× | 8.6% |
| DuPont DD | $19.4B | -1% | -43% | 14% | 18.3× | 14.7% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
| DSM-Firmenich DSFIR.AS | $29.5B | +62% | -45% | 8% | 30.1× | 24.3% |
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 | EMSN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | -0.6% | 11th highest of 21 |
| 6-month return | +28.1% | -14.7% | 3rd highest of 21 |
| Distance from 52-week high | -5.7% | -28.8% | 4th highest of 21 |
| Revenue growth (TTM) | -3.2% | +2.2% | 7th lowest of 21 |
| Operating margin | 29.9% | 10.6% | 3rd highest of 21 |
| Forward P/E | 39.4× | 16.8× | 2nd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 8.6% | 7.8% | 7th most demanding of 16 |
| Growth delivered (Del g) | +1.6% | +10.4% | 3rd lowest of 16 |
| Hurdle (Req g minus delivered) | +7.0 pp | -2.8 pp | 4th most demanding of 16 |
| ROIC minus cost of capital | +31.1 pp | -1.0 pp | highest of 21 |
| EV / EBITDA | 30.0× | 10.0× | most expensive of 13 |
| Net debt / EBITDA | -1.3× | 2.0× | 3rd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ems-chemie EMSN.SW | Switzerland | $24.3B | +28% | -3% | 30% | 39.4× | 8.6% | +1.6% |
| Ningxia Baofeng Energy 600989.SS | China | $23.4B | -31% | +35% | 35% | 8.4× | -7.8% | +24.8% |
| Dow DOW | United States | $22.7B | -14% | +4% | 5% | 14.8× | 4.3% | +0.7% |
| LyondellBasell LYB | United States | $19.6B | -15% | -2% | 10% | 9.5× | -10.3% | +1.7% |
| China Northern Rare Earth (Group) High-Tech 600111.SS | China | $19.6B | -31% | +29% | 11% | 28.5× | 24.6% | +14.2% |
| Novonesis A/S NSIS-B.CO | Denmark | $32.1B | +22% | +5% | 21% | 30.0× | 13.2% | +17.2% |
| Hengli Petrochemical 600346.SS | China | $17.5B | -25% | -8% | 8% | 9.2× | -8.0% | +5.1% |
| Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B SQM | United States | $16.0B | -37% | +59% | 39% | 7.3× | -4.8% | +20.1% |
| Nippon Sanso 4091.T | Japan | $15.3B | +1% | +10% | 15% | 16.9× | 7.8% | +10.7% |
| Symrise SY1.DE | Germany | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% | +7.0% |
| Covestro 1COV.DE | Germany | $14.0B | 0% | -9% | -3% | 200.3× | n/a | n/a |
| Zhejiang Juhua 600160.SS | China | $13.1B | -12% | -5% | 20% | 18.2× | n/a | n/a |
| Lgchem 051910.KS | South Korea | $12.6B | -42% | 0% | 0% | n/a | n/a | n/a |
| Resonac 4004.T | Japan | $12.6B | -26% | +1% | 8% | 18.0× | 26.7% | +6.7% |
| Satellite Chemical 002648.SZ | China | $12.4B | -17% | +20% | 23% | 7.2× | -13.2% | +33.8% |
| Formosa Plastics 1301.TW | Taiwan | $12.1B | +22% | -11% | -2% | 21.4× | n/a | n/a |
| Albemarle ALB | United States | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% | +10.4% |
| Basf BAS.DE | Germany | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% | +0.2% |
| Formosa Chemicals & Fibre 1326.TW | Taiwan | $11.1B | +21% | -5% | 1% | 21.0× | 26.2% | +2.5% |
| Swancor Advanced Materials 688585.SS | China | $10.9B | +50% | +3% | -25% | n/a | n/a | n/a |
| Ganfeng Lithium 1772.HK | Hong Kong | $9.76B | -72% | +123% | 18% | 6.4× | 9.0% | +32.0% |