BELIMO Holding AG (CH:BEAN)
:BEAN
Top Page
BELIMO Holding AG
(BEAN)
Select Model
Select Model
Rating:70Outperform
Price Target:
CHF762.00
▲(5.18% Upside)
Action:UpgradedDate:04/09/26
The score is primarily supported by high-quality financials (strong profitability and very low leverage) and positive guidance for continued growth with EBIT >20%. Offsetting this are premium valuation (high P/E, low yield) and weaker technical positioning (negative MACD and below major moving averages), alongside near-term cash-flow pressure from working capital and elevated CapEx.
Positive Factors
Strong Profitability & Margins
Sustained EBIT margin above 20% and significant year-over-year profit growth indicate durable operating leverage and pricing power in core HVAC components. High cash operating profitability supports ongoing R&D, capacity investment, and dividend policy, strengthening long-term earnings resilience.
Negative Factors
Weaker Cash Conversion & Working Capital
Declining cash conversion and rising working-capital absorption reduce free-cash-flow available for discretionary uses. Over a multi-quarter horizon, this can constrain the pace of organic investment, increase reliance on liquidity cushions, and temper the firm's ability to fund dividends or rapid capacity expansion from internal cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability & Margins
Sustained EBIT margin above 20% and significant year-over-year profit growth indicate durable operating leverage and pricing power in core HVAC components. High cash operating profitability supports ongoing R&D, capacity investment, and dividend policy, strengthening long-term earnings resilience.
Read all positive factors
BELIMO Holding AG (BEAN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF8.71B
Dividend Yield1.22%
Average Volume (3M)24.25K
Price to Earnings (P/E)52.9
Beta (1Y)0.89
Revenue Growth16.73%
EPS Growth14.51%
CountryCH
Employees2,071
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)6.53
Shares Outstanding12,300,000
10 Day Avg. Volume17,067
30 Day Avg. Volume24,249
Financial Highlights & Ratios
PEG Ratio2.23
Price to Book (P/B)15.44
Price to Sales (P/S)8.57
P/FCF Ratio91.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF857.16Price Target Upside18.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)17.93
Revenue Forecast (FY)CHF1.27B
BELIMO Holding AG Business Overview & Revenue Model
Company Description
BELIMO Holding AG, together with its subsidiaries, develops, manufactures, and sells damper actuators, control valves, sensors, and meters for heating, ventilation, and air conditioning (HVAC) systems in Europe, the Americas, and the Asia Pacific....
How the Company Makes Money
BELIMO makes money mainly by selling HVAC field devices and related solutions to customers involved in building construction, retrofit/modernization, and ongoing building operations. Key revenue streams include: (1) Actuators: Sales of damper and ...
BELIMO Holding AG Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial year: record sales, double-digit local-currency growth, expanded margins, high capital returns, significant product and capacity investments, and a progressive sustainability agenda. Offsetting risks include tariff volatility, FX headwinds, higher material costs in H2, working-capital absorption and increased CapEx, and a higher concentration of growth in the data center segment which could introduce near-term volatility. On balance the company demonstrated solid execution and mitigation actions (pricing, supply-chain flow-through, regional investments), supporting a constructive outlook (mid-teens local-currency growth guidance and EBIT >20%).Positive Updates
Record Sales Above CHF 1 Billion
FY2025 sales reached CHF 1.12 billion, the first time BELIMO exceeded CHF 1 billion; sales growth was 23.3% in local currencies and 18.7% in Swiss francs.
Negative Updates
Tariff Volatility and Elevated Import Costs
U.S. tariff regime changed several times in 2025 (peaked temporarily at very high rates); tariffs materially pressured costs and margins — company cited midyear price increases and supply-chain flow-through to mitigate; management estimates current tariff exposure for 2026 in the ~15%–19% range.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Sales Above CHF 1 Billion
FY2025 sales reached CHF 1.12 billion, the first time BELIMO exceeded CHF 1 billion; sales growth was 23.3% in local currencies and 18.7% in Swiss francs.
Read all positive updates
Company Guidance
Management guided 2026 sales growth in the mid‑teens (after 2025 local‑currency sales +23.3% to CHF 1.12bn) while reiterating a long‑term organic target of 9–11% over a 10‑year horizon; EBIT margin is expected to remain ahead of 20% (2025: 20.8%, +159 bps) despite tariff uncertainty (U.S. tariffs currently ~15–19%) and FX risk. They will continue investing — R&D CHF 76m (6.7% of turnover), 2025 CapEx CHF 87m and a similar absolute CapEx expected in 2026 — while keeping working capital stable as a percentage of sales (inventory target ≈15%) and maintaining a strong balance sheet (net liquidity CHF 69m, op. cash flow CHF 185m, free cash flow CHF 99m). Other metrics highlighted: data centers ≈17% of sales (≈50% of 2025 absolute growth), Americas ≈50% of sales, Sensors & Meters ≈5% of sales, headcount 2,704 (Americas planned to ~840, +16%), proposed dividend CHF 10 (payout ≈68%), ROCE 36%, ROIC ~28%, ROE ~30%, sales per employee CHF 445k and depreciation ~2.8% of sales; pricing actions include ~8% U.S. increases (mid‑year and Jan 1) contributing roughly 3–3.5% group price effect.BELIMO Holding AG Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.12B | 943.86M | 858.78M | 846.90M | 765.34M |
| Gross Profit | 346.87M | 580.29M | 247.47M | 243.01M | 220.57M |
| EBITDA | 268.48M | 208.42M | 179.95M | 185.47M | 178.05M |
| Net Income | 181.63M | 146.78M | 136.96M | 122.80M | 115.67M |
Balance Sheet | |||||
| Total Assets | 895.97M | 763.68M | 661.99M | 688.54M | 660.86M |
| Cash, Cash Equivalents and Short-Term Investments | 100.64M | 137.20M | 112.79M | 111.78M | 169.41M |
| Total Debt | 46.64M | 25.36M | 14.82M | 11.47M | 10.77M |
| Total Liabilities | 274.15M | 182.95M | 131.50M | 166.78M | 149.53M |
| Stockholders Equity | 621.83M | 580.74M | 530.63M | 521.83M | 511.30M |
Cash Flow | |||||
| Free Cash Flow | 104.78M | 136.09M | 109.92M | 57.77M | 105.73M |
| Operating Cash Flow | 184.20M | 194.78M | 156.97M | 112.47M | 152.45M |
| Investing Cash Flow | -61.55M | -101.95M | -21.08M | -21.79M | -107.54M |
| Financing Cash Flow | -115.77M | -107.82M | -108.66M | -111.78M | -100.60M |
BELIMO Holding AG Technical Analysis
Neutral
724.50
Price Trends
742.35
Negative
767.91
Negative
803.23
Negative
Market Momentum
-10.40
Negative
57.72
Neutral
91.43
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BEAN, the sentiment is Neutral. The current price of 724.5 is above the 20-day moving average (MA) of 657.05, below the 50-day MA of 742.35, and below the 200-day MA of 803.23, indicating a neutral trend. The MACD of -10.40 indicates Negative momentum. The RSI at 57.72 is Neutral, neither overbought nor oversold. The STOCH value of 91.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:BEAN.
BELIMO Holding AG Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | CHF1.98B | 54.72 | ― | 2.17% | 11.43% | 6.46% | |
70 Outperform | CHF8.71B | 52.88 | 31.53% | 1.22% | 16.73% | 14.51% | |
67 Neutral | CHF17.48B | 34.14 | ― | 2.08% | 1.72% | -1.43% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | CHF1.32B | 33.61 | ― | 1.46% | -3.67% | -12.95% | |
52 Neutral | CHF2.21B | 16.53 | ― | ― | 1.16% | 132.26% | |
49 Neutral | CHF3.48B | 42.66 | ― | 2.53% | -24.42% | 32.48% |
* Industrials Sector Average
CH:BEAN
BELIMO Holding AG
724.50
193.42
36.42%
CH:DOKA
dormakaba Holding AG
53.40
-12.22
-18.62%
CH:KARN
Kardex AG
252.00
49.60
24.51%
CH:INRN
Interroll Holding AG
1,560.00
-240.51
-13.36%
CH:GEBN
Geberit AG
544.00
-2.60
-0.48%
CH:GF
Georg Fischer AG
42.66
-15.60
-26.78%
BELIMO Holding AG Corporate Events
Belimo Shareholders Approve Higher Dividend and Confirm Board at 51st AGM
Mar 24, 2026
Belimo Holding AG, a Swiss-based global leader in HVAC field devices such as damper actuators, control valves, sensors, and meters, reported 2025 sales of CHF 1,121 million and employs more than 2,800 people worldwide. The company focuses on energ...
Belimo accelerates growth in 2025 on data center demand and strategic expansion
Feb 23, 2026
Belimo posted strong full-year 2025 results, with sales rising 23.3% in local currencies to CHF 1.12 billion and the EBIT margin improving to 20.8%, driven by operating leverage, innovation, and a favorable product mix. Growth was broad-based acro...
Belimo Accelerates 2025 Growth on Data Center Demand and Retrofit Strategy
Jan 19, 2026
Belimo Holding AG, the global leader in field devices for energy-efficient HVAC control, grew its 2025 sales by 23.3% in local currencies to CHF 1.121 billion, underscoring its strong market position and the traction of its strategy focused on urb...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.