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Swiss maker of specialty construction chemicals - concrete admixtures, waterproofing, sealants and adhesives.
Swiss maker of specialty construction chemicals - concrete admixtures, waterproofing, sealants and adhesives.
Sells additives and sealants that are a small part of a building's cost but important to how it performs, through its own sales force to contractors and to concrete makers. Growth has come from entering new countries and buying local firms, which are then supplied with the group's wider product range.
In one line: A Swiss RPM International/PPG (construction chemicals).
Moat: narrow (brand, distribution, process know-how). Strong contractor-facing brand and dense global distribution built through decades of bolt-on acquisitions.
Headquarters: Baar, Switzerland · Founded: 1910 · Employees: 33,707
Size Sika (SIKA.SW) is a Switzerland Materials company (Chemicals: Major Diversified) with a market value of $36.4B, the 17th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 185.25 on 6 Nov 2026.
Performance Over six months the shares gained 32.2%, against +16.6% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 3rd highest of 7 in its peer set.
Growth Revenue fell 4.2% over the last twelve months (peer median +4.4%); the operating margin is 13.7% (peer median 15.8%).
Valuation It trades at 24.9× forward earnings against a peer median of 14.9× (2nd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +3 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 2.9 points above its cost of capital (7.0% WACC).
Credit Sika has 5 bonds outstanding ($3.06B), rated A- by the agencies and trading like AA at a weighted spread of 73 bp.
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 11.1B | CHF 11.2B | CHF 11.8B | CHF 11.2B | CHF 10.5B |
| Revenue growth | — | -5% | +5% | +7% | — |
| Gross profit | CHF 3.46B | CHF 3.43B | CHF 3.72B | CHF 3.53B | CHF 3.08B |
| EBITDA | CHF 2.06B | CHF 2.07B | CHF 2.29B | CHF 2.13B | CHF 1.96B |
| Net income | CHF 1.04B | CHF 1.04B | CHF 1.25B | CHF 1.06B | CHF 1.16B |
| Free cash flow | CHF 1.23B | CHF 1.25B | CHF 1.29B | CHF 1.39B | CHF 862M |
| Capital expenditure | CHF 382M | CHF 375M | CHF 359M | CHF 280M | CHF 266M |
| Total debt | n/a | CHF 5.52B | CHF 5.72B | CHF 5.84B | CHF 3.89B |
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 |
|---|---|---|---|---|---|---|
| Sika SIKA.SW | $36.4B | +32% | -4% | 14% | 24.9× | 10.7% |
| RPM International RPM | $13.2B | +2% | +6% | 13% | 16.9× | 7.5% |
| Compagnie de Saint-Gobain SGO.PA | $40.7B | -3% | -2% | 10% | 12.1× | 5.1% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
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 | SIKA.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.4% | -2.9% | 2nd highest of 7 |
| 6-month return | +32.2% | +16.6% | 3rd highest of 7 |
| Distance from 52-week high | -6.2% | -25.1% | 2nd highest of 7 |
| Revenue growth (TTM) | -4.2% | +4.4% | 2nd lowest of 7 |
| Operating margin | 13.7% | 15.8% | 3rd lowest of 7 |
| Forward P/E | 24.9× | 14.9× | 2nd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 10.7% | 7.5% | 3rd least demanding of 5 |
| Growth delivered (Del g) | +7.3% | +2.8% | 2nd highest of 5 |
| Hurdle (Req g minus delivered) | +3.4 pp | +13.0 pp | 3rd least demanding of 5 |
| ROIC minus cost of capital | +2.9 pp | +4.2 pp | 4th highest of 7 |
| EV / EBITDA | 17.1× | 11.6× | 2nd most expensive of 6 |
| Net debt / EBITDA | 2.6× | 1.6× | most indebted of 6 |
| Bond spread | 73 bp | 110 bp | 2nd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sika SIKA.SW | Switzerland | $36.4B | +32% | -4% | 14% | 24.9× | 10.7% | +7.3% |
| Nan Ya Plastic 1303.TW | Taiwan | $57.4B | +155% | +6% | 6% | 11.5× | n/a | n/a |
| DuPont DD | United States | $19.4B | -1% | -43% | 14% | 18.3× | 14.7% | -13.7% |
| Evonik Industries EVK.DE | Germany | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% | +2.9% |
| Sasol Limited Sponsored ADR SSL | United States | $10.3B | +14% | +18% | 22% | 4.8× | n/a | n/a |
| Peric Special Gases 688146.SS | China | $9.58B | +102% | +75% | 19% | 67.1× | 50.8% | +13.1% |
| Solstice Advanced Materials SOLS | United States | $9.22B | -26% | +3% | 17% | 17.8× | 0.3% | +2.7% |
Sika has 5 bonds outstanding with $3.06B face value. The agencies rate it A-; its bonds trade like AA. Weighted yield 3.79%, a spread of 73 bp over government bonds.