Loading…
Newly listed Luxembourg holding company for an alternative investment platform spanning digital infrastructure, real estate and finance.
Newly listed Luxembourg holding company for an alternative investment platform spanning digital infrastructure, real estate and finance.
In one line: A small, private-markets EXOR/Investor AB analogue.
Moat: none (scale). A recently combined holding company (Icona Capital + Stoneweg); too new to show a durable competitive edge.
Headquarters: Luxembourg City, Luxembourg · Founded: 2025 · Employees: 280
Size SWI Capital (SWICH.AS) is a Netherlands Information Technology company (Data Processing Services) with a market value of $6.61B, the 28th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €10.55 on 6 Nov 2026.
Performance Over six months the shares gained 88.4%, against -6.7% for the median peer and +0.4% for the Netherlands market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 33.1% over the last twelve months (peer median +11.1%); the operating margin is -53.9% (peer median 11.4%).
Valuation It trades at 110.6× enterprise value to sales against a peer median of 5.2× (most expensive of 21).
Capital Return on invested capital runs 5.7 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | |
|---|---|---|---|
| Revenue | €66.1M | €55.9M | €83.6M |
| Revenue growth | — | -33% | — |
| Gross profit | €60.8M | €51.5M | €83.5M |
| EBITDA | n/a | -€53.6M | n/a |
| Net income | €520M | €302M | €517M |
| Free cash flow | -€34.5M | -€4.45M | -€2.35M |
| Capital expenditure | €1.23M | €566,000 | €0 |
| Total debt | n/a | €591M | €301M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| SWI Capital SWICH.AS | $6.61B | +88% | -33% | -54% | 110.6× | n/a |
| Exor EXO.AS | $26.2B | +10% | +59% | -384% | n/a | n/a |
| Partners PGHN.SW | $21.3B | -24% | +9% | 56% | n/a | n/a |
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 | SWICH.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | -1.4% | 10th lowest of 21 |
| 6-month return | +88.4% | -6.7% | highest of 21 |
| Distance from 52-week high | -24.6% | -35.8% | 8th highest of 21 |
| Revenue growth (TTM) | -33.1% | +11.1% | 2nd lowest of 21 |
| Operating margin | -53.9% | 11.4% | 4th lowest of 21 |
| EV / Sales | 110.6× | 5.2× | most expensive of 21 |
| ROIC minus cost of capital | -5.7 pp | -4.2 pp | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SWI Capital SWICH.AS | Netherlands | $6.61B | +88% | -33% | -54% | 110.6× | n/a | n/a |
| ExlService EXLS | United States | $6.51B | +39% | +16% | 14% | 2.9× | 9.4% | +16.8% |
| Hut 8 HUT | United States | $6.49B | -47% | +71% | -89% | 26.1× | n/a | n/a |
| Wangsu Science & Technology 300017.SZ | China | $5.90B | 0% | 0% | 15% | 6.8× | 27.3% | -3.9% |
| TeraWulf WULF | United States | $5.67B | -51% | +15% | -227% | 49.3× | n/a | n/a |
| IONOS IOS.DE | Germany | $5.49B | +23% | -34% | 23% | 5.0× | 11.0% | +5.9% |
| Nextdc NXT.AX | Australia | $5.47B | -30% | +16% | -7% | 20.9× | n/a | n/a |
| Applied Digital APLD | United States | $4.70B | -62% | +290% | -24% | 11.8× | n/a | n/a |
| GDS 9698.HK | Hong Kong | $4.22B | -52% | +13% | 17% | 5.5× | n/a | n/a |
| JOYY, Inc. Sponsored ADR JOYY | United States | $3.98B | +37% | +8% | 2% | 1.2× | 19.8% | +2.1% |
| Akamai Technologies AKAM | United States | $11.9B | -44% | +6% | 12% | 4.2× | 17.0% | +5.6% |
| Dentsu Soken 4812.T | Japan | $3.56B | +31% | +10% | 14% | 2.8× | 0.3% | +8.7% |
| Kyndryl Holdings Incorporation KD | United States | $3.55B | +33% | -1% | 4% | 0.4× | 1.6% | -4.9% |
| LTM LTM.NS | India | $13.6B | +2% | +15% | 16% | 2.5× | 23.8% | +27.9% |
| GoDaddy GDDY | United States | $13.9B | +26% | +7% | 26% | 3.2× | -2.2% | +8.4% |
| Range Intelligent Computing Technology 300442.SZ | China | $14.1B | -35% | +51% | 36% | 16.8× | n/a | n/a |
| Cipher Digital CIFR | United States | $2.99B | -68% | -29% | -172% | 42.6× | n/a | n/a |
| Megaport MP1.AX | Australia | $2.80B | +86% | +37% | -10% | 11.9× | n/a | n/a |
| NTNX NTNX | United States | $15.9B | +27% | +12% | 11% | 5.3× | 23.0% | +15.4% |
| Tgs TGS.OL | Norway | $2.73B | -13% | -30% | 12% | 2.4× | 5.5% | +36.2% |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 3.3× | 46.5% | -0.7% |