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Bucher Industries AG
(BUCN)
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Rating:70Outperform
Price Target:
CHF349.00
▲(5.44% Upside)
Action:Reiterated
Date:07/31/26
The score is primarily supported by strong financial fundamentals—especially the very low leverage balance sheet and solid cash generation profile. Offsetting this are mixed near-term outlook signals from the earnings call (lower 2026 sales/margins with notable weakness at Kuhn and Emhart Glass) and a weaker technical backdrop with the stock trading below key moving averages. Valuation is fair with a moderate dividend yield, but not compelling enough to fully counter the near-term operational and trend pressures.
Positive Factors
Very low leverage / strong balance sheet
An almost debt-free balance sheet with a 66% equity ratio gives durable financial flexibility. It reduces refinancing and interest-rate risk, supports counter-cyclical investment, buybacks and R&D, and cushions the group through cyclical demand troughs over the next several quarters.
Negative Factors
Emhart Glass demand and margin slump
A sustained ~25% sales decline and single-digit EBIT margin reflect severe underutilization and pricing/volume stress in glass machinery. This structural weakness can depress group profitability and require prolonged recovery in order momentum and capacity adjustments over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
An almost debt-free balance sheet with a 66% equity ratio gives durable financial flexibility. It reduces refinancing and interest-rate risk, supports counter-cyclical investment, buybacks and R&D, and cushions the group through cyclical demand troughs over the next several quarters.
Read all positive factors
Bucher Industries AG (BUCN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.10B
Dividend Yield2.14%
Average Volume (3M)10.97K
Price to Earnings (P/E)17.4
Beta (1Y)0.88
Revenue Growth-4.06%
EPS Growth-17.81%
CountryCH
Employees12,665
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)18.14
Shares Outstanding9,840,000
10 Day Avg. Volume10,846
30 Day Avg. Volume10,973
Financial Highlights & Ratios
PEG Ratio3.25
Price to Book (P/B)2.08
Price to Sales (P/S)1.28
P/FCF Ratio12.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF339.67Price Target Upside2.62% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)17.31
Revenue Forecast (FY)CHF2.86B
Bucher Industries AG Business Overview & Revenue Model
Company Description
Bucher Industries AG manufactures and sells machinery, systems, and hydraulic components for harvesting, producing and packaging food products, and keeping roads and public spaces clean and safe in Asia, the United States, Europe, and internationa...
How the Company Makes Money
Bucher Industries makes money primarily by designing, manufacturing, and selling specialized equipment and systems through its operating divisions. A major revenue stream comes from selling capital equipment (e.g., agricultural machinery; municipa...
Bucher Industries AG Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Neutral
The call presents a mixed picture: the company’s balance sheet and liquidity are strong (high equity ratio, net cash, completed buyback and continued R&D and product innovation), and several divisions (notably Bucher Hydraulics and certain municipal businesses) show clear order and sales momentum. However, core weaknesses persist—most prominently an 18% decline in Kuhn’s order intake, a 25% drop in Emhart Glass sales and margin compression across the group—plus a negative H1 operating cash flow and one-off restructuring costs. Management views H1 as the trough and expects sequential improvement in H2, but full-year guidance was adjusted to slightly lower sales and margins versus the prior year. Overall this balances healthy financial strength and pockets of operational growth against material near-term demand and margin challenges.Positive Updates
Strong balance sheet and liquidity
Equity ratio of 66% at end of June; net cash position of CHF 278m after H1 (company expects ~CHF 400m by year-end assuming no major acquisitions); company is almost debt-free.
Negative Updates
Kuhn Group order intake collapse
Kuhn Group order intake declined by 18% YoY; although sales were up +3% on a comparable basis (thanks to a strong opening order book), lower capacity utilization and cost pressures pushed the operating profit margin down to 8.8%.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong balance sheet and liquidity
Equity ratio of 66% at end of June; net cash position of CHF 278m after H1 (company expects ~CHF 400m by year-end assuming no major acquisitions); company is almost debt-free.
Read all positive updates
Company Guidance
Management guided 2026 to slightly lower group sales on a comparable basis and an operating profit margin below last year (group H1 margin 7.1% vs ~8% last year excl. a CHF 43m property gain), saying H1 was the trough and H2 should improve; division guidance: Kuhn Group (order intake -18% H1, sales +3% H1, H1 EBIT margin 8.8%) expects stable FY comparable sales and a margin at prior‑year; Bucher Municipal (order intake ≈+8% H1, sales -3.6% H1, H1 margin 7.2%) expects a slight sales decline and a slightly lower margin; Bucher Hydraulics (order intake +9% H1, sales ≈+8% H1, H1 margin 10.8%) expects slight sales and margin increases; Emhart Glass (order intake ≈+9% H1 but sales -25% H1, H1 EBIT margin 5%) expects significantly lower FY sales and margin versus 2025 but sequential improvement in H2; Bucher Specials (order intake +4% H1, sales -2.4% H1) expects slight sales growth but a lower margin reflecting a CHF 8m restructuring charge; key financials supporting the plan: equity ratio 66% (June), net cash CHF 278m (expected ~CHF 400m year‑end), H1 operating free cash flow CHF -73m, CapEx 2.8% of sales (H1) with full‑year CapEx ~CHF 140–150m, RONOA after tax 12.7% (vs 8% WACC, 20% target) and an effective tax rate H1 19.2% (mid‑term 21–23%).Bucher Industries AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.85B | 2.91B | 3.16B | 3.57B | 3.60B | 3.18B |
| Gross Profit | 531.30M | 557.10M | 1.57B | 828.80M | 819.30M | 681.30M |
| EBITDA | 300.10M | 295.70M | 385.50M | 522.80M | 503.50M | 437.70M |
| Net Income | 179.50M | 235.00M | 226.80M | 352.10M | 331.20M | 265.50M |
Balance Sheet | ||||||
| Total Assets | 2.64B | 2.72B | 2.79B | 2.96B | 2.98B | 2.77B |
| Cash, Cash Equivalents and Short-Term Investments | 306.20M | 521.50M | 432.70M | 529.30M | 579.30M | 705.60M |
| Total Debt | 28.50M | 23.30M | 30.60M | 133.70M | 122.10M | 154.70M |
| Total Liabilities | 894.70M | 919.40M | 902.70M | 1.14B | 1.28B | 1.24B |
| Stockholders Equity | 1.74B | 1.79B | 1.88B | 1.80B | 1.68B | 1.51B |
Cash Flow | ||||||
| Free Cash Flow | 200.30M | 310.90M | 192.30M | 108.80M | 67.20M | 269.20M |
| Operating Cash Flow | 296.50M | 407.30M | 344.50M | 250.40M | 164.20M | 342.70M |
| Investing Cash Flow | -105.30M | -76.30M | -199.60M | -139.10M | -146.60M | -115.10M |
| Financing Cash Flow | -254.50M | -241.90M | -252.10M | -136.10M | -132.80M | -61.20M |
Bucher Industries AG Technical Analysis
Negative
331.00
Price Trends
317.96
Negative
323.71
Negative
338.24
Negative
Market Momentum
-0.12
Positive
44.73
Neutral
22.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BUCN, the sentiment is Negative. The current price of 331 is above the 20-day moving average (MA) of 321.80, above the 50-day MA of 317.96, and below the 200-day MA of 338.24, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 44.73 is Neutral, neither overbought nor oversold. The STOCH value of 22.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:BUCN.
Bucher Industries AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | CHF1.12B | 21.40 | ― | 2.46% | 1.72% | -9.57% | |
70 Outperform | CHF3.10B | 17.42 | ― | 2.04% | -4.06% | -17.81% | |
67 Neutral | CHF1.84B | 70.39 | ― | 2.54% | 2.60% | -65.24% | |
67 Neutral | CHF4.95B | 16.32 | 24.15% | 3.36% | -2.55% | 11.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | CHF267.65M | -43.14 | ― | ― | -7.68% | -182.03% | |
52 Neutral | CHF4.24B | -31.55 | ― | 2.58% | -20.47% | -148.37% |
* General Sector Average
CH:BUCN
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Bucher Industries AG Corporate Events
Bucher Industries Cuts 2026 Outlook as Political Uncertainty Hits Agricultural Demand
Jul 30, 2026
Bucher Industries AG is a diversified industrial group spanning agricultural machinery, municipal equipment, hydraulics, glass-forming systems and specialised engineering, serving global agriculture, infrastructure and manufacturing markets with t...
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.