BVZ Holding AG (BVZN) AI Stock Analysis

• Market Cap: CHF270.27M
• Dividend Yield: 1.51%
• Average Volume (3M): 59.00
• Price to Earnings (P/E): 10.9
• Beta (1Y): 0.12
• Revenue Growth: 2.43%
• EPS Growth: 9.82%
• Country: CH
• Employees: 694
• Sector: Financial
• Sector Strength: 70
• Industry: Railroads
• EPS (TTM): 55.25
• Shares Outstanding: 197,278
• 10 Day Avg. Volume: 25
• 30 Day Avg. Volume: 59
• PEG Ratio: -0.46
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 1.04
• P/FCF Ratio: 5.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: CHF1,514.00 ▲(21.12% Upside)

Overall score reflects solid valuation and strong technical momentum, partially offset by mixed fundamentals—especially negative and weakening free cash flow, declining gross margin, and elevated leverage despite still-healthy profitability.

Positive Factors

Diversified revenue streams

BVZ's mix of commuter, scenic and freight operations plus partnerships and ancillary services creates multiple cash sources. This diversification reduces dependency on a single market segment, smoothing revenue volatility and supporting long-term resilience for capital-intensive rail operations.

Sustained operating margins

Consistent positive EBIT and EBITDA margins indicate underlying operational efficiency and pricing power in core transport services. Sustainable margins give the company capacity to cover fixed rail costs, fund maintenance and upgrades, and preserve profitability through cyclical demand shifts.

Stable equity position

A moderate equity ratio provides a capital buffer against shocks in a capital-intensive industry. This stability supports creditor confidence, enables access to financing for rolling stock and infrastructure, and reduces insolvency risk over a multi-quarter horizon.

Negative Factors

Negative revenue trend

A declining top line is structural risk for a transport operator reliant on passenger and freight volumes. Sustained revenue contraction limits scope for reinvestment, pressures fixed-cost coverage and can erode network competitiveness if fleet or service upgrades are deferred.

Declining free cash flow

Persistent negative and falling free cash flow constrains the company's ability to fund capital expenditures and repay debt from operations. Over months, this forces reliance on external financing or asset sales, increasing financing costs and reducing strategic flexibility in a capital-intensive business.

Elevated leverage

High leverage raises interest and refinancing risk for BVZ, particularly with long-lived rail assets and cyclical ridership. Elevated debt limits ability to invest in service improvements, increases vulnerability to revenue shocks, and can magnify downside during prolonged demand weakness.

BVZ Holding AG Business Overview & Revenue Model

Company Description

BVZ Holding AG, through its subsidiaries, provides rail-related services. The company offers public transport, rolling stock, and maintenance services; tourism services; and automobile and freight transport services. It also engages in the management, infrastructure, and real estate activities. The company was founded in 1891 and is based in Brig, Switzerland.

How the Company Makes Money

BVZ Holding AG generates revenue primarily through the operation of its train services, which include ticket sales from passengers and freight transport contracts. The company also earns income from partnerships with local governments and municipalities for public transportation services, often receiving subsidies for operating essential routes. Additionally, BVZ engages in infrastructure projects, which can provide significant returns on investment through government contracts and public-private partnerships. The stable demand for regional transport services, coupled with strategic collaborations, contributes to its financial performance.

BVZ Holding AG Financial Statement Overview

Summary

Financials are mixed: profitability margins (EBIT/EBITDA and net margin) remain healthy, but revenue growth has turned negative and gross margin has declined. Balance sheet is stable but leveraged (high debt-to-equity) with weakening ROE. Cash flow is the key drag, with negative and deteriorating free cash flow raising liquidity/financial flexibility concerns.

Income Statement

The income statement shows mixed results. While the company has maintained a positive EBIT and EBITDA margin, the gross profit margin has significantly decreased from previous years, indicating potential cost management issues. The net profit margin remains healthy, but the revenue growth rate has turned negative, suggesting challenges in maintaining top-line growth.

Balance Sheet

The balance sheet reflects a stable equity position with a moderate equity ratio. However, the debt-to-equity ratio is relatively high, indicating significant leverage, which could pose risks if not managed carefully. Return on equity has decreased, reflecting a decline in profitability relative to shareholder investment.

Cash Flow

Cash flow analysis reveals concerns, particularly with free cash flow, which has been negative and shows a declining growth trend. The operating cash flow to net income ratio is close to 1, indicating that operating cash flow is closely aligned with net income, but the free cash flow to net income ratio is low, highlighting potential liquidity issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	176.47M	169.39M	199.32M	177.25M	139.16M	121.19M
Gross Profit	64.55M	18.62M	63.39M	49.20M	26.85M	10.14M
EBITDA	71.47M	68.22M	69.02M	51.39M	29.46M	16.45M
Net Income	24.87M	21.58M	26.26M	20.59M	3.59M	-7.03M
Balance Sheet
Total Assets	699.73M	700.36M	693.04M	564.77M	443.20M	403.34M
Cash, Cash Equivalents and Short-Term Investments	71.87M	74.26M	59.06M	40.30M	15.90M	19.59M
Total Debt	388.88M	399.78M	417.82M	314.19M	232.70M	193.94M
Total Liabilities	436.12M	445.38M	457.96M	356.28M	257.64M	221.49M
Stockholders Equity	240.78M	233.44M	214.91M	191.61M	171.62M	168.04M
Cash Flow
Free Cash Flow	26.19M	33.08M	-86.60M	-57.28M	-44.73M	-47.84M
Operating Cash Flow	54.03M	60.79M	61.44M	62.85M	13.89M	6.76M
Investing Cash Flow	-27.78M	-27.48M	-144.52M	-115.09M	-56.34M	-44.20M
Financing Cash Flow	-19.33M	-18.11M	101.84M	76.64M	38.76M	15.41M

BVZ Holding AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1250.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BVZN, the sentiment is Positive. The current price of 1250 is below the 20-day moving average (MA) of 1298.50, above the 50-day MA of 1189.00, and above the 200-day MA of 1052.26, indicating a bullish trend. The MACD of 45.67 indicates Negative momentum. The RSI at 67.95 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:BVZN.

BVZ Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BVZN	71 Outperform	CHF270.27M	10.87	―	1.51%	2.43%	9.82%
JFN	69 Neutral	CHF1.70B	22.07	10.92%	2.68%	5.88%	-1.53%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SRAIL	58 Neutral	CHF1.98B	62.81	―	1.00%	-6.87%	-74.29%