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Swiss maker of flooring materials (linoleum, vinyl) and conveyor/transportation belts for building and industrial customers.
Swiss maker of flooring materials (linoleum, vinyl) and conveyor/transportation belts for building and industrial customers.
Splits into flooring, sold largely for renovation of offices, schools and hospitals, and belting that goes into conveyors and processing lines, where wear brings replacement demand. Renovation and replacement make demand steadier than new construction.
In one line: A flooring and industrial belting maker with no single close US peer.
Moat: narrow (brand, process know-how, installed base). Established brand in sustainable flooring (linoleum) and niche industrial belting technology, in fragmented but stable end markets.
Headquarters: Baar, Switzerland · Founded: 1928 · Employees: 5,100
Size Forbo (FORN.SW) is a Switzerland Consumer Discretionary company (Home Furnishings) with a market value of $1.51B, the 106th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 874.00 on 6 Nov 2026.
Performance Over six months the shares gained 22.9%, against -15.7% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 1.3% over the last twelve months (peer median +0.1%); the operating margin is 8.0% (peer median 6.2%).
Valuation It trades at 16.7× forward earnings against a peer median of 17.8× (6th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +1 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 4.7 points above its cost of capital (6.0% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 1.08B | CHF 1.09B | CHF 1.12B | CHF 1.18B | CHF 1.29B |
| Revenue growth | — | -3% | -5% | -9% | — |
| Gross profit | CHF 361M | CHF 359M | CHF 385M | CHF 402M | CHF 441M |
| EBITDA | CHF 136M | CHF 140M | CHF 168M | CHF 188M | CHF 213M |
| Net income | CHF 66.3M | CHF 68.9M | CHF 95.1M | CHF 102M | CHF 101M |
| Free cash flow | CHF 58.8M | CHF 31.3M | CHF 91.8M | CHF 116M | CHF 50.5M |
| Capital expenditure | CHF 44.9M | CHF 44.9M | CHF 46.1M | CHF 45.3M | CHF 30.9M |
| Total debt | n/a | CHF 47.7M | CHF 47.2M | CHF 40.1M | CHF 65.6M |
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 |
|---|---|---|---|---|---|---|
| Forbo FORN.SW | $1.51B | +23% | -1% | 8% | 16.7× | 0.2% |
| Interface TILE | $1.78B | +4% | +7% | 12% | 14.5× | 11.4% |
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 | FORN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.1% | -0.1% | 10th lowest of 21 |
| 6-month return | +22.9% | -15.7% | 4th highest of 21 |
| Distance from 52-week high | -11.7% | -41.6% | 4th highest of 21 |
| Revenue growth (TTM) | -1.3% | +0.1% | 9th lowest of 21 |
| Operating margin | 8.0% | 6.2% | 5th highest of 21 |
| Forward P/E | 16.7× | 17.8× | 6th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 0.2% | -0.5% | 7th most demanding of 15 |
| Growth delivered (Del g) | -0.6% | +6.2% | 2nd lowest of 15 |
| Hurdle (Req g minus delivered) | +0.7 pp | -4.2 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +4.7 pp | -3.1 pp | 5th highest of 21 |
| EV / EBITDA | 9.0× | 8.0× | 5th cheapest of 9 |
| Net debt / EBITDA | -0.1× | 1.5× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 16.7× | 0.2% | -0.6% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 4.8× | -1.0% | +20.1% |
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | n/a | 19.4% | +2.1% |
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 9.5× | -6.7% | +6.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 18.2× | -7.0% | +17.0% |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 12.7× | 4.2% | +4.2% |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 222.4× | n/a | n/a |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 7.9× | -6.5% | 0.0% |
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | n/a | n/a | n/a |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | n/a | n/a | n/a |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 18.5× | -5.1% | +20.7% |
| De Rucci Healthy Sleep 001323.SZ | China | $1.15B | -26% | -6% | 5% | 19.5× | 0.0% | +3.3% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 26.2× | 28.4% | +22.1% |
| Suofeiya Home Collection 002572.SZ | China | $1.12B | -35% | -22% | 8% | 20.7× | -2.8% | +2.3% |
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 17.4× | -3.4% | +33.2% |
| Dong Yi Ri Sheng Home Decoration 002713.SZ | China | $1.08B | -38% | -1% | -23% | n/a | n/a | n/a |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | n/a | n/a | n/a |
| Gansu Golden Solar 300093.SZ | China | $2.42B | -9% | -9% | -152% | n/a | n/a | n/a |
| Patrick Industries PATK | United States | $2.53B | -17% | +2% | 6% | 16.8× | 9.3% | +9.7% |
| TTK Prestige TTKPRESTIG.NS | India | $882M | +14% | +16% | 7% | 33.2× | 36.8% | +6.3% |
| Helen of Troy HELE | United States | $876M | +51% | +1% | 7% | 9.8× | 3.9% | -3.1% |