BELIMO Holding AG (CH:BEAN)
:BEAN
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BELIMO Holding AG
(BEAN)
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Rating:78Outperform
Price Target:
CHF1,029.00
▲(33.81% Upside)
Action:Reiterated
Date:06/06/26
The score is driven primarily by strong financial quality (high profitability/returns and low leverage) and a positive outlook from management (mid-teens growth guidance and EBIT >20%). This is tempered by stretched technical conditions and a rich valuation (high P/E with modest yield), plus near-term cash-flow pressure from working capital and elevated CapEx.
Positive Factors
High and improving profitability and returns
Sustained EBIT margin above 20% alongside strong net income growth and elevated returns indicates durable pricing power and operating efficiency. High margins and returns create internal funding for R&D, dividends and capacity, supporting long-term cash generation and strategic reinvestment.
Negative Factors
Weaker cash conversion and lower free cash flow
Declining cash conversion and a notable drop in FCF reduce internal funding capacity and increase dependence on careful cash management during growth. If higher working capital or capex persist, liquidity available for discretionary uses and buffer against shocks will be constrained over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High and improving profitability and returns
Sustained EBIT margin above 20% alongside strong net income growth and elevated returns indicates durable pricing power and operating efficiency. High margins and returns create internal funding for R&D, dividends and capacity, supporting long-term cash generation and strategic reinvestment.
Read all positive factors
BELIMO Holding AG (BEAN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF11.75B
Dividend Yield1.22%
Average Volume (3M)24.25K
Price to Earnings (P/E)65.3
Beta (1Y)0.96
Revenue Growth18.75%
EPS Growth23.73%
CountryCH
Employees2,071
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)14.77
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
CHF1,096.67Price Target Upside42.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)18.33
Revenue Forecast (FY)CHF1.28B
BELIMO Holding AG Business Overview & Revenue Model
Company Description
BELIMO Holding AG, a Swiss enterprise founded in Hinwil in 1975, is engaged in the development, manufacturing, and global distribution of specialized products for heating, ventilation, and air conditioning (HVAC) systems. The company serves market...
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 20, 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
Positive
769.00
Price Trends
791.82
Positive
772.68
Positive
788.56
Positive
Market Momentum
48.17
Negative
71.86
Negative
92.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BEAN, the sentiment is Positive. The current price of 769 is below the 20-day moving average (MA) of 877.25, below the 50-day MA of 791.82, and below the 200-day MA of 788.56, indicating a bullish trend. The MACD of 48.17 indicates Negative momentum. The RSI at 71.86 is Negative, neither overbought nor oversold. The STOCH value of 92.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | CHF11.75B | 65.35 | 31.53% | 1.22% | 18.75% | 23.73% | |
67 Neutral | CHF1.79B | 47.64 | ― | 2.17% | 5.79% | -49.07% | |
67 Neutral | CHF16.68B | 28.97 | ― | 2.08% | 2.51% | 0.45% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | CHF1.14B | 21.84 | ― | 1.46% | -2.46% | -11.13% | |
52 Neutral | CHF2.25B | 25.61 | ― | ― | -2.44% | 31.09% | |
49 Neutral | CHF3.64B | 35.57 | ― | 2.53% | -22.94% | -51.88% |
* Industrials Sector Average
CH:BEAN
BELIMO Holding AG
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21.41%
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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...
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.