COMET Holding AG (COTN) AI Stock Analysis

• Market Cap: CHF1.80B
• Dividend Yield: 0.65%
• Average Volume (3M): 23.55K
• Price to Earnings (P/E): 51.1
• Beta (1Y): 1.37
• Revenue Growth: 12.05%
• EPS Growth: 128.29%
• Country: CH
• Employees: 1,810
• Sector: Industrials
• Sector Strength: 92
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 3.99
• Shares Outstanding: 7,773,966
• 10 Day Avg. Volume: 19,221
• 30 Day Avg. Volume: 23,549
• PEG Ratio: 0.51
• Price to Book (P/B): 5.51
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 44.48
• 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: CHF306.40
• Price Target Upside: 32.64% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 65 Neutral
• Price Target: CHF248.00 ▲(7.36%Upside)

COMET Holding AG's strong financial performance is the primary driver of its stock score, with improvements in profitability and cash flow. However, technical indicators show mixed signals, and the stock appears overvalued based on its high P/E ratio. The absence of recent earnings call data and notable corporate events limits additional insights, resulting in a balanced but cautious overall outlook.

Positive Factors

Growth Opportunities

Comet’s entrance into advanced packaging markets with its new 3D inspection tool opens up a new growth opportunity, potentially changing profit and loss dynamics.

Market Demand

Growth is coming from rising demand for AI applications and data center expansions.

Order Growth

The positive surprise today is the book-to-bill ratio of 1.0 in 2024, which implies orders of CHF124m in Q4, an increase vs Q3 of CHF113m.

Negative Factors

Demand Expectations

Micron's reduced demand expectation for NAND is a negative sign for Comet.

Financial Performance

Post a weak margin guide for 2025, the EPS forecast for 2025 is reduced by 26%.

Market Trends

Comet is overexposed to NAND memory where prices keep falling.

COMET Holding AG Business Overview & Revenue Model

Company Description

COMET Holding AG is a globally operating Swiss technology company that focuses on providing high-quality components and systems for the electronics, automotive, aerospace, and security industries. The company operates through three main segments: X-Ray Systems, Plasma Control Technologies, and Industrial X-Ray Modules. These segments offer innovative solutions such as non-destructive testing systems, radio frequency power supplies for semiconductor manufacturing, and high-performance X-ray tubes and modules.

How the Company Makes Money

COMET Holding AG generates revenue through the sale of its advanced technological products and solutions across its three core segments. The X-Ray Systems segment provides non-destructive testing equipment and services, catering to industries that require high precision and reliability. The Plasma Control Technologies segment supplies radio frequency power solutions, which are critical for semiconductor manufacturing processes. The Industrial X-Ray Modules segment offers high-resolution X-ray sources and detectors for inspection and quality control applications. Additionally, the company engages in strategic partnerships and collaborations with leading firms in the technology sector to enhance its product offerings and expand its market reach. These diverse revenue streams are supported by COMET's emphasis on innovation, quality, and customer service, which help maintain its competitive position in the market.

COMET Holding AG Financial Statement Overview

Summary

COMET Holding AG has demonstrated strong financial performance with improvements in profitability and cash flow. While the company maintains a solid balance sheet with a healthy equity ratio and manageable debt levels, past volatility and asset reductions indicate a need for consistent growth and stability.

Income Statement

COMET Holding AG demonstrated strong revenue growth over the past year with a 12.04% increase from 2023 to 2024. Gross profit margins improved to 43.34%, indicating efficient cost management. The net profit margin significantly improved to 7.89% in 2024, showcasing enhanced profitability. EBIT and EBITDA margins also showed robust performance at 8.58% and 14.47% respectively, reflecting solid operational performance. However, compared to 2022, there has been a decline in revenue and margins, signaling potential volatility in the market.

Balance Sheet

The company's financial leverage is moderate with a debt-to-equity ratio of 0.30, reflecting a manageable level of debt. Return on equity increased to 10.79%, indicating improved profitability relative to shareholder equity. The equity ratio stands at 61.27%, showing a strong equity position. While these figures demonstrate good financial health, the reduction in total assets and stockholders' equity from 2022 to 2024 highlights potential instability in asset management.

Cash Flow

COMET Holding AG saw a notable turnaround in free cash flow, growing significantly from negative in 2023 to a positive $37.18M in 2024. The operating cash flow to net income ratio of 1.42 indicates strong cash generation relative to net income. However, fluctuations in cash flows and capital expenditures in prior years suggest some volatility in cash management and investment activities.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
445.36M	397.45M	586.39M	513.72M	395.82M
	Gross Profit
193.10M	162.93M	261.63M	222.80M	157.57M
	EBIT
38.23M	24.98M	94.08M	80.40M	30.21M
	EBITDA
64.42M	41.41M	113.55M	99.07M	54.69M
	Net Income Common Stockholders
35.12M	15.39M	78.11M	67.44M	27.66M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
113.74M	86.71M	125.94M	115.53M	74.68M
	Total Assets
531.17M	473.58M	569.94M	491.89M	441.15M
	Total Debt
97.61M	95.51M	97.87M	79.41M	81.82M
	Net Debt
-16.13M	8.81M	-28.08M	-36.12M	7.14M
	Total Liabilities
205.73M	177.49M	238.41M	216.91M	226.20M
	Stockholders Equity
325.44M	296.09M	331.53M	274.98M	214.96M
Cash Flow		Free Cash Flow
37.18M	-4.16M	40.00M	55.82M	41.71M
	Operating Cash Flow
49.96M	22.26M	63.23M	69.01M	55.27M
	Investing Cash Flow
-8.55M	-22.84M	-22.67M	-12.94M	-15.47M
	Financing Cash Flow
-16.79M	-33.85M	-28.00M	-15.52M	-24.48M

COMET Holding AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 231.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:COTN, the sentiment is Positive. The current price of 231 is above the 20-day moving average (MA) of 228.91, above the 50-day MA of 218.70, and below the 200-day MA of 263.65, indicating a neutral trend. The MACD of 1.19 indicates Positive momentum. The RSI at 56.29 is Neutral, neither overbought nor oversold. The STOCH value of 87.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:COTN.

COMET Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IFCN	72 Outperform	CHF2.46B	24.81		2.08%	-2.41%	4.65%
KARN	70 Outperform	CHF2.00B	26.01		2.32%	10.38%	18.74%
INRN	69 Neutral	CHF1.62B	25.97		1.62%	-5.25%	-6.32%
BOSN	68 Neutral	CHF1.51B	20.85	19.35%	2.08%	-7.72%	-2.58%
Sector *	66 Neutral	$4.50B	12.28	5.32%	248.52%	4.13%	-12.36%
COTN	65 Neutral	CHF1.80B	51.09		0.65%	12.05%	128.29%
DAE	60 Neutral	CHF2.04B	65.49	8.24%	2.67%	-3.80%	-53.44%

COMET Holding AG Corporate Events

Comet Holding AG Approves All Agenda Items at 76th General Meeting

At its 76th Ordinary General Meeting, Comet Holding AG successfully passed all proposed agenda items, including the approval of the 2024 financial statements and a dividend of CHF 1.50 per share. The meeting also saw the re-election of Board members, the appointment of Benjamin Loh as the new Chairman, and the approval of compensation plans for the Board and Executive Board. These decisions reflect a stable governance structure and strategic continuity, potentially reinforcing investor confidence and supporting the company’s market positioning.

Comet Holding AG Reports Strong Q1 2025 Performance Driven by Semiconductor Demand

Comet Holding AG reported a robust first quarter in 2025, with net sales rising by 37.5% to CHF 111.2 million and order intake increasing by 30.2% to CHF 118.5 million compared to the previous year. The growth was primarily driven by the semiconductor industry’s demand, particularly in AI applications and data centers, despite challenges in consumer electronics. Comet’s strategic focus on the semiconductor sector and the launch of new products like the Synertia range and CA20 system are expected to bolster its market position and drive future growth.