Bucher Industries AG (CH:BUCN)
:BUCN
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Bucher Industries AG
(BUCN)
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Rating:73Outperform
Price Target:
CHF348.00
▼(-1.42% Downside)
Action:UpgradedDate:03/07/26
The score is driven primarily by strong financial quality (notably the very strong balance sheet and solid cash generation). This is moderated by cautious 2026 guidance—especially much lower expected operating free cash flow—and a mixed technical picture with limited momentum. Valuation is reasonable with a mid-teens P/E and ~3% yield, providing some support.
Positive Factors
Very strong balance sheet / net cash
Extremely low leverage and a ~CHF 500m net cash position with a 66% equity ratio provide durable financial flexibility. This supports steady dividends, targeted M&A, and resilience through cycles, lowering refinancing risk and enabling investment without pressuring liquidity or capital structure.
Negative Factors
Guidance: materially lower expected cash generation in 2026
Management expects a sharp fall in operating free cash flow to CHF 100–150m next year, materially reducing cushion from 2025. Lower cash conversion constrains discretionary returns, reduces optionality for M&A and raises sensitivity to cyclical downturns despite a strong balance sheet.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet / net cash
Extremely low leverage and a ~CHF 500m net cash position with a 66% equity ratio provide durable financial flexibility. This supports steady dividends, targeted M&A, and resilience through cycles, lowering refinancing risk and enabling investment without pressuring liquidity or capital structure.
Read all positive factors
Bucher Industries AG (BUCN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.19B
Dividend Yield2.99%
Average Volume (3M)10.97K
Price to Earnings (P/E)10.0
Beta (1Y)0.89
Revenue Growth-7.64%
EPS Growth4.78%
CountryCH
Employees12,830
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)16.23
Shares Outstanding10,250,000
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
CHF368.50Price Target Upside4.39% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)18.9
Revenue Forecast (FY)CHF2.89B
Bucher Industries AG Business Overview & Revenue Model
Company Description
Bucher Industries AG develops, manufactures, and sells machinery, vehicles, hydraulic components, and manufacturing equipment for use in harvesting, food producing and packaging, and roads and public spaces cleaning in Asia, the Americas, Europe, ...
How the Company Makes Money
Bucher Industries makes money primarily by selling engineered capital equipment and vehicles through its operating divisions. Major revenue streams include: (1) Agricultural equipment sales (e.g., specialized farming machinery), typically generate...
Bucher Industries AG Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: strong cash generation, a solid balance sheet (net cash ~CHF 500m) and meaningful operational highlights (order intake recovery, CO2 reduction, maintained R&D) contrast with material top‑line weakness in several divisions—most notably Emhart Glass—and a guidance for broadly flat comparable sales and operating profit in 2026. Management emphasizes cash discipline, targeted M&A, and cautious optimism for selective recovery, while warning of geopolitical and market uncertainties.Positive Updates
Record Operating Free Cash Flow and Strong Balance Sheet
Operating free cash flow of CHF 365 million (highest in ~20 years) and free cash flow slightly above CHF 100 million. Enabled shareholder returns (dividend and share buyback ~CHF 150 million). Net cash position close to CHF 500 million and equity ratio of 66%.
Negative Updates
Group Sales Decline
Group sales declined by about 6% year‑on‑year, primarily reflecting a lower order book at the start of the year; only Bucher Municipal posted higher sales for the year despite Q4 sales recovery.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Operating Free Cash Flow and Strong Balance Sheet
Operating free cash flow of CHF 365 million (highest in ~20 years) and free cash flow slightly above CHF 100 million. Enabled shareholder returns (dividend and share buyback ~CHF 150 million). Net cash position close to CHF 500 million and equity ratio of 66%.
Read all positive updates
Company Guidance
Guidance for 2026 is cautious optimism: the group expects comparable sales broadly flat vs. 2025 and a similar operating profit (excluding last year’s CHF 43m property gain); by division Kuhn is expected to see higher sales and an improved margin, Bucher Hydraulics a slight rise in sales and margin, Bucher Specials slight sales growth and a better margin, Bucher Municipal a slight decline in sales and margin, and Bucher Emhart Glass significantly lower sales and margin. Key financial targets and metrics: operating free cash flow guidance CHF 100–150m (vs. CHF 365m in 2025), free cash flow around CHF 100m, CapEx ~CHF 150m (~4–4.5% of sales) (2025 CapEx ~CHF 120m), R&D roughly CHF 134m (~4.6% of sales; target 4–5%), net cash ~CHF 500m, equity ratio 66%, group EBIT margin 9.7% in 2025 (vs. 9.0 in 2024), ROIC 16.2% (cost of capital ~8%, cycle target 20%), net working capital 18.5% (down CHF 180m from 22.8%; target ~17–18%), dividend proposed CHF 11/share (c. CHF 112m) and share buyback nearly complete (~4% repurchased; ~CHF 150m spent; CHF 234m allocated to dividend & buybacks), 2025 order intake +7% LFL while sales fell ~6% in 2025; CO2 emissions down 13% YoY to ~60–61k tonnes (−35% since 2021).Bucher Industries AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.91B | 3.16B | 3.57B | 3.60B | 3.18B |
| Gross Profit | 557.10M | 1.57B | 828.80M | 819.30M | 681.30M |
| EBITDA | 295.70M | 385.50M | 522.80M | 503.50M | 437.70M |
| Net Income | 235.00M | 226.80M | 352.10M | 331.20M | 265.50M |
Balance Sheet | |||||
| Total Assets | 2.72B | 2.79B | 2.96B | 2.98B | 2.77B |
| Cash, Cash Equivalents and Short-Term Investments | 521.50M | 432.70M | 529.30M | 579.30M | 705.60M |
| Total Debt | 23.30M | 30.60M | 133.70M | 122.10M | 154.70M |
| Total Liabilities | 919.40M | 902.70M | 1.14B | 1.28B | 1.24B |
| Stockholders Equity | 1.79B | 1.88B | 1.80B | 1.68B | 1.51B |
Cash Flow | |||||
| Free Cash Flow | 310.90M | 192.30M | 108.80M | 67.20M | 269.20M |
| Operating Cash Flow | 407.30M | 344.50M | 250.40M | 164.20M | 342.70M |
| Investing Cash Flow | -76.30M | -199.60M | -139.10M | -146.60M | -115.10M |
| Financing Cash Flow | -241.90M | -252.10M | -136.10M | -132.80M | -61.20M |
Bucher Industries AG Technical Analysis
Negative
353.00
Price Trends
365.04
Negative
361.54
Negative
372.19
Negative
Market Momentum
-1.44
Negative
47.21
Neutral
24.17
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 353 is above the 20-day moving average (MA) of 350.68, below the 50-day MA of 365.04, and below the 200-day MA of 372.19, indicating a neutral trend. The MACD of -1.44 indicates Negative momentum. The RSI at 47.21 is Neutral, neither overbought nor oversold. The STOCH value of 24.17 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | CHF3.19B | 9.97 | ― | 2.99% | -7.64% | 4.78% | |
73 Outperform | CHF2.08B | 105.88 | ― | 2.17% | 5.79% | -49.07% | |
65 Neutral | CHF4.97B | 7.52 | 24.15% | 2.90% | 0.70% | 12.20% | |
62 Neutral | CHF1.32B | 13.75 | ― | 1.46% | -2.46% | -11.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | CHF3.52B | -19.27 | ― | 2.53% | -22.94% | -51.88% | |
44 Neutral | CHF280.47M | -18.36 | ― | ― | -7.68% | -182.03% |
* General Sector Average
CH:BUCN
Bucher Industries AG
312.00
-47.92
-13.31%
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-13.05%
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CH:KOMN
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-47.90%
CH:SUN
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Bucher Industries AG Corporate Events
Bucher Industries Holds 2026 Outlook Despite Softer First-Quarter Demand
Apr 28, 2026
Bucher Industries AG reported subdued demand in the first quarter of 2026, with group order intake down 8.9% and sales 7.3% below the prior-year period, though solid order books helped cushion the impact. Kuhn Group saw a sharp drop in new orders ...
Bucher Industries Shareholders Back Board Proposals and Leadership Transition
Apr 16, 2026
Bucher Industries’ shareholders approved all proposals at the 2026 General Meeting, including a dividend of CHF 11.00 per registered share and a capital reduction through cancellation of 410,000 treasury shares from a buyback programme. The ...
Bucher Industries Completes CHF 155 Million Share Buyback and Plans Capital Reduction
Mar 10, 2026
Bucher Industries AG has completed its public share buyback programme, repurchasing 410,000 registered shares for a total of CHF 155 million since May 2025 at an average price of CHF 378.90. The Board of Directors plans to ask shareholders at the ...
Bucher Industries Delivers Strong Cash Flow and Solid Margins Despite Lower 2025 Sales
Mar 3, 2026
Bucher Industries navigated a challenging economic and political backdrop in 2025 with stabilising demand, particularly in Europe, and higher order intake led by Kuhn Group and Bucher Hydraulics, even as group sales fell 7.6% due to a low starting...
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.