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Employees: 3,636
Size Zehnder (ZEHN.SW) is a Switzerland Industrials company (Building Products) with a market value of $983M, the 121st largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 72.20 on 6 Nov 2026.
Performance Over six months the shares gained 9.9%, against -18.4% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 1.9% over the last twelve months (peer median +0.5%); the operating margin is 8.4% (peer median 5.1%).
Valuation It trades at 17.5× forward earnings against a peer median of 26.6× (6th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +2%, 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 11.7 points above its cost of capital (7.4% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 715M | CHF 713M | CHF 672M | CHF 740M | CHF 816M |
| Revenue growth | — | +6% | -9% | -9% | — |
| Gross profit | CHF 195M | CHF 194M | CHF 172M | CHF 199M | CHF 223M |
| EBITDA | CHF 81.9M | CHF 78.4M | CHF 141M | CHF 132M | CHF 145M |
| Net income | CHF 43.2M | CHF 43.4M | CHF 1.62M | CHF 42.0M | CHF 55.6M |
| Free cash flow | CHF 40.2M | CHF 59.0M | CHF 41.4M | CHF 63.3M | CHF 33.1M |
| Capital expenditure | CHF 17.6M | CHF 16.1M | CHF 16.4M | CHF 22.4M | CHF 27.2M |
| Total debt | n/a | CHF 6.70M | CHF 64.3M | CHF 5.95M | CHF 9.68M |
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.
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 | ZEHN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | -1.3% | 8th highest of 21 |
| 6-month return | +9.9% | -18.4% | 3rd highest of 21 |
| Distance from 52-week high | -20.9% | -40.4% | 6th highest of 21 |
| Revenue growth (TTM) | +1.9% | +0.5% | 9th highest of 21 |
| Operating margin | 8.4% | 5.1% | 7th highest of 21 |
| Forward P/E | 17.5× | 26.6× | 6th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 2.5% | 7.2% | 7th least demanding of 16 |
| Growth delivered (Del g) | +1.5% | +2.9% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | +1.0 pp | +2.7 pp | 8th least demanding of 16 |
| ROIC minus cost of capital | +11.7 pp | -3.1 pp | 2nd highest of 21 |
| EV / EBITDA | 9.8× | 8.7× | 3rd most expensive of 8 |
| Net debt / EBITDA | -0.1× | 0.4× | 4th least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zehnder ZEHN.SW | Switzerland | $983M | +10% | +2% | 8% | 17.5× | 2.5% | +1.5% |
| Suzhou Huaya Intelligence Technology 003043.SZ | China | $990M | -20% | +2% | 11% | 78.3× | 27.6% | +22.3% |
| Apogee Enterprises APOG | United States | $956M | +25% | +3% | 9% | 13.6× | -0.3% | +2.7% |
| Guangzhou Guangri Stock 600894.SS | China | $956M | -20% | +2% | 0% | 9.6× | 7.2% | +1.4% |
| Quanex Building Products NX | United States | $949M | +2% | +1% | 6% | 10.7× | 6.0% | +16.6% |
| Zhenjiang Dongfang Electric Heating Technology 300217.SZ | China | $944M | -17% | -23% | 0% | 26.6× | 22.5% | +6.5% |
| Jiangsu Seagull Cooling Tower 603269.SS | China | $943M | +40% | +8% | 11% | 38.4× | n/a | n/a |
| Solareast 603366.SS | China | $1.07B | +8% | 0% | -2% | n/a | 39.8% | +2.9% |
| Arrow Home 001322.SZ | China | $887M | -14% | -12% | -2% | 280.0× | 15.8% | -0.1% |
| Samhyun 437730.KS | South Korea | $860M | -31% | -18% | -17% | n/a | n/a | n/a |
| Center International 603098.SS | China | $847M | -26% | -30% | 4% | n/a | n/a | n/a |
| Arctech Solar 688408.SS | China | $820M | -38% | -19% | -1% | 34.8× | n/a | n/a |
| Takara standard 7981.T | Japan | $1.20B | +2% | +2% | 7% | n/a | -5.5% | +5.7% |
| Zhejiang Southeast Space Frame 002135.SZ | China | $764M | -46% | -4% | 2% | 25.7× | -12.0% | +0.3% |
| James Halstead JHD.L | United Kingdom | $762M | +4% | -1% | 18% | 15.1× | -4.7% | -0.5% |
| Preformed Line Products PLPC | United States | $1.28B | -24% | +16% | 10% | 18.8× | 10.2% | +7.5% |
| Nanjing Kangni Mechanical & Electrical 603111.SS | China | $749M | -16% | -1% | 8% | n/a | -7.1% | +4.8% |
| Yimikang Tech 300249.SZ | China | $739M | -38% | +29% | 2% | 77.5× | n/a | n/a |
| NPK International NPKI | United States | $725M | -42% | +19% | 18% | 16.4× | 15.5% | -10.9% |
| Xiamen Solex High-Tech Industries 603992.SS | China | $1.38B | -35% | +18% | 8% | 29.9× | 13.5% | +5.2% |
| ERA 002641.SZ | China | $690M | -11% | -2% | 0% | 42.0× | -1.8% | -2.5% |