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Swiss manufacturer of smart electricity meters and grid-management software for utilities worldwide.
Swiss manufacturer of smart electricity meters and grid-management software for utilities worldwide.
Wins multi-year contracts through utility tenders, shipping meters in large batches during a rollout and following with software, data and maintenance services. North America and Europe are the main regions, and revenue is lumpy because it depends on when utilities start and finish those programs.
In one line: A smart-meter maker like a smaller Itron.
Moat: narrow (installed base, customer qualification, IP / patents). Utility procurement cycles and installed metering infrastructure create long customer relationships, though competition from Itron/Landis peers is real.
Headquarters: Zug, Switzerland · Founded: 1896 · Employees: 6,064
Size Landis+Gyr (LAND.SW) is a Switzerland Industrials company (Industrial Machinery) with a market value of $2.01B, the 92nd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 56.90 on 6 Nov 2026.
Performance Over six months the shares gained 16.7%, against -9.1% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 2nd highest of 18 in its peer set.
Growth Revenue fell 21.7% over the last twelve months (peer median +16.6%); the operating margin is 25.2% (peer median 13.0%).
Valuation It trades at 21.5× forward earnings against a peer median of 18.8× (6th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 5 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 901M | CHF 936M | CHF 993M | CHF 1.72B | CHF 1.61B |
| Revenue growth | — | -6% | -42% | +7% | — |
| Gross profit | CHF 425M | CHF 279M | CHF 294M | CHF 495M | CHF 420M |
| EBITDA | CHF 262M | CHF 123M | CHF 126M | CHF 211M | CHF 135M |
| Net income | CHF 63.1M | -CHF 136M | -CHF 97.3M | CHF 96.9M | CHF 203M |
| Free cash flow | CHF 88.0M | CHF 48.0M | CHF 45.0M | CHF 80.3M | -CHF 70.8M |
| Capital expenditure | CHF 30.2M | CHF 30.9M | CHF 28.3M | CHF 28.0M | CHF 28.0M |
| Total debt | n/a | CHF 384M | CHF 351M | CHF 307M | CHF 255M |
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 |
|---|---|---|---|---|---|---|
| Landis+Gyr LAND.SW | $2.01B | +17% | -22% | 25% | 21.5× | -10.2% |
| Itron ITRI | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% |
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 | LAND.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.2% | -2.9% | 2nd highest of 21 |
| 6-month return | +16.7% | -9.1% | 2nd highest of 18 |
| Distance from 52-week high | -7.0% | -24.6% | 3rd highest of 21 |
| Revenue growth (TTM) | -21.7% | +16.6% | lowest of 21 |
| Operating margin | 25.2% | 13.0% | highest of 21 |
| Forward P/E | 21.5× | 18.8× | 6th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -10.2% | 1.3% | 2nd least demanding of 15 |
| Growth delivered (Del g) | -5.7% | +12.7% | lowest of 15 |
| Hurdle (Req g minus delivered) | -4.6 pp | -8.4 pp | 6th most demanding of 15 |
| ROIC minus cost of capital | +12.3 pp | +3.0 pp | 6th highest of 20 |
| EV / EBITDA | 7.2× | 11.2× | 5th cheapest of 13 |
| Net debt / EBITDA | 0.9× | -0.5× | 2nd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Landis+Gyr LAND.SW | Switzerland | $2.01B | +17% | -22% | 25% | 21.5× | -10.2% | -5.7% |
| Max 6454.T | Japan | $2.01B | +1% | +11% | 18% | 19.4× | 2.4% | +9.2% |
| Xi'an Shaangu Power 601369.SS | China | $2.00B | -22% | -5% | 7% | 18.2× | -11.1% | +3.2% |
| Direct Drive Tech 6731.HK | Hong Kong | $2.02B | n/a | +253% | -38% | n/a | n/a | n/a |
| Kaishan 300257.SZ | China | $2.00B | -56% | +12% | 15% | 22.0× | n/a | n/a |
| Enerpac Tool EPAC | United States | $1.99B | +9% | +6% | 20% | 18.8× | 3.8% | +4.3% |
| Makino Milling Machine 6135.T | Japan | $1.99B | +35% | +17% | 12% | 10.1× | -3.2% | +17.5% |
| Shenzhen Hongfuhan Technology 301086.SZ | China | $2.04B | -23% | +58% | 14% | 27.7× | n/a | n/a |
| Miura 6005.T | Japan | $2.05B | -11% | +6% | 11% | 11.6× | -4.3% | +14.8% |
| Guangdong Topstar Technology 300607.SZ | China | $2.05B | -1% | +20% | 7% | 88.9× | 31.0% | -1.8% |
| CIMC Enric 3899.HK | Hong Kong | $1.96B | -32% | +6% | 4% | 10.4× | -4.7% | +15.6% |
| Chenbro Micom 8210.TW | Taiwan | $2.06B | -57% | +54% | 23% | 10.4× | 0.3% | +23.9% |
| Burckhardt Compression BCHN.SW | Switzerland | $2.07B | -3% | -15% | 13% | 18.6× | -7.8% | +9.9% |
| LMW LMW.NS | India | $1.93B | +14% | +19% | 4% | 55.9× | n/a | n/a |
| Midera Food Processing MFP | United States | $1.92B | n/a | +11% | 14% | 16.4× | 0.9% | +10.5% |
| Suzhou Secote Precision Electronic 603283.SS | China | $1.92B | -12% | +9% | 20% | 20.2× | n/a | n/a |
| Shenyang Machine Tool 000410.SZ | China | $2.11B | -14% | +29% | -3% | n/a | 25.3% | +22.7% |
| Excelland Robotics (Wuxi) 3231.HK | Hong Kong | $1.91B | n/a | +19% | -36% | n/a | n/a | n/a |
| Ta Liang Technology 3167.TW | Taiwan | $1.89B | -9% | +103% | 23% | 19.6× | 31.8% | +15.9% |
| OSG 6136.T | Japan | $1.88B | -2% | +20% | 18% | 11.4× | 1.7% | +9.0% |
| ELGI Equipments ELGIEQUIP.NS | India | $1.87B | -1% | +16% | 13% | 35.0× | 30.6% | +15.5% |