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Swiss maker of aseptic carton packaging systems for beverages and liquid food, competing with Tetra Pak.
Swiss maker of aseptic carton packaging systems for beverages and liquid food, competing with Tetra Pak.
Sells filling machines, often placed on long contracts, then earns again on the cartons each machine uses, so most income comes from recurring packaging supply rather than the machines. The 2022 purchase of Scholle IPN added bag-in-box packs and spouted pouches beyond cartons.
In one line: A Swiss peer to Tetra Pak's carton packaging business.
Moat: narrow (switching costs, installed base, customer qualification). Filling-machine placements lock in customers to SIG's proprietary carton packaging for years.
Headquarters: Neuhausen am Rheinfall, Switzerland · Founded: 1853 · Employees: 9,701
Size SIG (SIGN.SW) is a Switzerland Materials company (Containers/Packaging) with a market value of $7.07B, the 45th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 15.10 on 6 Nov 2026.
Performance Over six months the shares gained 23.3%, against +1.2% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 4.9% over the last twelve months (peer median +3.3%); the operating margin is 4.5% (peer median 9.6%).
Valuation It trades at 20.5× forward earnings against a peer median of 17.5× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +9 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 2.8 points below its cost of capital (5.1% WACC).
Credit SIG has 2 bonds outstanding ($1.25B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 140 bp.
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 2.99B | CHF 3.04B | CHF 3.17B | CHF 3.14B | CHF 2.79B |
| Revenue growth | — | -4% | +1% | +12% | — |
| Gross profit | CHF 513M | CHF 718M | CHF 657M | CHF 634M | CHF 482M |
| EBITDA | CHF 414M | CHF 712M | CHF 743M | CHF 731M | CHF 604M |
| Net income | -CHF 42.9M | -CHF 81.5M | CHF 185M | CHF 236M | CHF 37.9M |
| Free cash flow | CHF 314M | CHF 219M | CHF 327M | CHF 260M | CHF 281M |
| Capital expenditure | CHF 255M | CHF 267M | CHF 295M | CHF 388M | CHF 301M |
| Total debt | n/a | CHF 2.32B | CHF 2.32B | CHF 2.28B | CHF 2.64B |
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 |
|---|---|---|---|---|---|---|
| SIG SIGN.SW | $7.07B | +23% | -5% | 5% | 20.5× | 18.4% |
| Elopak ELO.OL | $1.01B | -11% | 0% | 9% | 11.8× | -8.3% |
| Amcor AMCR | $20.7B | +14% | +57% | 9% | n/a | 5.8% |
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 | SIGN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.9% | +3.5% | 4th highest of 21 |
| 6-month return | +23.3% | +1.2% | 2nd highest of 21 |
| Distance from 52-week high | -4.5% | -18.0% | 5th highest of 21 |
| Revenue growth (TTM) | -4.9% | +3.3% | 2nd lowest of 21 |
| Operating margin | 4.5% | 9.6% | 6th lowest of 21 |
| Forward P/E | 20.5× | 17.5× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 18.4% | 2.5% | 2nd most demanding of 19 |
| Growth delivered (Del g) | +9.4% | +6.1% | 3rd highest of 19 |
| Hurdle (Req g minus delivered) | +9.0 pp | -7.2 pp | 4th most demanding of 19 |
| ROIC minus cost of capital | -2.8 pp | +2.0 pp | 5th lowest of 21 |
| EV / EBITDA | 18.7× | 8.7× | most expensive of 16 |
| Net debt / EBITDA | 4.8× | 2.6× | 4th most indebted of 17 |
| Bond spread | 140 bp | 112 bp | 3rd widest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SIG SIGN.SW | Switzerland | $7.07B | +23% | -5% | 5% | 20.5× | 18.4% | +9.4% |
| Yunnan Energy New Material (Group) 002812.SZ | China | $7.55B | -38% | +50% | 17% | 19.8× | 7.8% | +26.1% |
| China International Marine Containers (Group) 000039.SZ | China | $6.19B | -23% | 0% | 4% | 18.7× | -9.2% | +10.7% |
| Stora Enso STEAV.HE | Finland | $8.58B | 0% | -1% | -4% | 18.4× | n/a | n/a |
| AptarGroup ATR | United States | $9.03B | +18% | +9% | 12% | 23.4× | 4.3% | +5.2% |
| Jiangsu Sidike New Materials Science & Technology 300806.SZ | China | $5.33B | -17% | +12% | 4% | 154.7× | n/a | n/a |
| Owens Corning OC | United States | $9.59B | 0% | -11% | 14% | 15.3× | 3.6% | +7.4% |
| Shenzhen YUTO Packaging Technology 002831.SZ | China | $5.19B | 0% | +1% | 11% | 20.8× | -0.4% | +7.9% |
| Sonoco Products SON | United States | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% | +7.5% |
| Mondi MNDI.L | United Kingdom | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% | +2.1% |
| Silgan SLGN | United States | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% | +5.7% |
| Oji 3861.T | Japan | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% | +6.5% |
| CCL Industries CCL-B.TO | Canada | $11.8B | +17% | +5% | 15% | 18.7× | 1.3% | +7.9% |
| Greif GEF | United States | $3.95B | +7% | -2% | 8% | 16.1× | 7.9% | -4.7% |
| Crown CCK | United States | $13.1B | +20% | +14% | 12% | 13.9× | -4.7% | +5.7% |
| Toyo Seikan 5901.T | Japan | $3.69B | +34% | +6% | 6% | 20.4× | -2.7% | +5.2% |
| Vidrala VID.MC | Spain | $3.63B | +18% | -3% | 21% | 14.6× | 5.8% | +8.2% |
| Graphic Packaging GPK | United States | $3.31B | +5% | 0% | 6% | 12.3× | 5.0% | +5.6% |
| Huhtamaki HUH1V.HE | Finland | $3.12B | -1% | -2% | 9% | 11.0× | -6.3% | +3.7% |
| Ball BALL | United States | $17.2B | +13% | +21% | 11% | 15.3× | 6.4% | +2.3% |
| Viscofan VIS.MC | Spain | $2.86B | -5% | +3% | 15% | 16.6× | -3.4% | +6.5% |
SIG has 2 bonds outstanding with $1.25B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 4.38%, a spread of 140 bp over government bonds.