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Emmi AG
(EMMN)
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Rating:64Neutral
Price Target:
CHF931.00
▲(8.26% Upside)
Action:Downgraded
Date:08/06/26
The score is driven primarily by stable operating performance and positive free cash flow, offset by materially higher leverage and uneven cash conversion. Technical signals are mixed with subdued near-term momentum, while valuation appears reasonable but not distinctly cheap, supported modestly by a ~2% dividend yield.
Positive Factors
Stable operating profitability
Emmi's consistent EBIT margin near 7.1% in 2025 indicates durable operating leverage and pricing power in core dairy categories. Stable operating profitability supports reinvestment in brands and product development and underpins long-term cash generation even amid commodity cycles.
Negative Factors
Elevated leverage
Leverage more than doubled between 2023 and 2024 and remains elevated, reducing financial flexibility. Higher debt increases interest and refinancing risk, making Emmi more sensitive to earnings or cash-flow volatility and constraining ability to pursue acquisitive or capital-intensive growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating profitability
Emmi's consistent EBIT margin near 7.1% in 2025 indicates durable operating leverage and pricing power in core dairy categories. Stable operating profitability supports reinvestment in brands and product development and underpins long-term cash generation even amid commodity cycles.
Read all positive factors
Emmi AG (EMMN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF4.64B
Dividend Yield2.02%
Average Volume (3M)4.15K
Price to Earnings (P/E)20.4
Beta (1Y)0.41
Revenue Growth9.13%
EPS Growth3.07%
CountryCH
Employees10,477
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)42.45
Shares Outstanding5,349,810
10 Day Avg. Volume4,487
30 Day Avg. Volume4,150
Financial Highlights & Ratios
PEG Ratio5.61
Price to Book (P/B)3.64
Price to Sales (P/S)0.83
P/FCF Ratio16.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF950.00Price Target Upside10.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)44.63
Revenue Forecast (FY)CHF4.77B
Emmi AG Business Overview & Revenue Model
Company Description
Emmi AG, along with its various group entities, specializes in the creation, manufacturing, and distribution of a wide selection of dairy and fresh food items. Its primary markets are centered in Switzerland, North and South America, Africa, the A...
How the Company Makes Money
Emmi makes money primarily by manufacturing and selling dairy products and related food items to customers across retail (e.g., supermarkets and other consumer channels) and foodservice/industrial channels (e.g., restaurants, coffee shops, caterer...
Emmi AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.75B | 4.35B | 4.24B | 4.23B | 3.91B |
| Gross Profit | 979.04M | 1.66B | 1.56B | 815.38M | 786.31M |
| EBITDA | 492.49M | 428.44M | 371.78M | 358.51M | 390.72M |
| Net Income | 227.10M | 220.29M | 186.27M | 182.55M | 216.74M |
Balance Sheet | |||||
| Total Assets | 3.48B | 3.36B | 2.71B | 2.64B | 2.47B |
| Cash, Cash Equivalents and Short-Term Investments | 405.56M | 306.75M | 371.32M | 204.12M | 256.57M |
| Total Debt | 1.31B | 1.33B | 682.30M | 693.91M | 658.44M |
| Total Liabilities | 2.26B | 2.23B | 1.30B | 1.35B | 1.29B |
| Stockholders Equity | 1.08B | 994.05M | 1.29B | 1.17B | 1.08B |
Cash Flow | |||||
| Free Cash Flow | 244.25M | 283.00M | 222.62M | 6.71M | 103.85M |
| Operating Cash Flow | 400.17M | 406.88M | 370.14M | 211.28M | 261.26M |
| Investing Cash Flow | -206.03M | -962.93M | -135.83M | -231.10M | -430.01M |
| Financing Cash Flow | -112.00M | 507.95M | -81.08M | -23.09M | 121.29M |
Emmi AG Technical Analysis
Positive
860.00
Price Trends
872.80
Negative
843.15
Positive
790.11
Positive
Market Momentum
-1.27
Positive
47.74
Neutral
49.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:EMMN, the sentiment is Positive. The current price of 860 is below the 20-day moving average (MA) of 876.75, below the 50-day MA of 872.80, and above the 200-day MA of 790.11, indicating a neutral trend. The MACD of -1.27 indicates Positive momentum. The RSI at 47.74 is Neutral, neither overbought nor oversold. The STOCH value of 49.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:EMMN.
Emmi AG Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | CHF1.31B | 13.68 | 19.22% | ― | -0.31% | 3.66% | |
64 Neutral | CHF4.64B | 20.45 | 22.25% | 2.03% | 9.13% | 3.07% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | CHF1.14B | 16.36 | 4.34% | 3.92% | 3.31% | -43.64% | |
51 Neutral | CHF93.48M | 10.77 | ― | ― | -2.98% | ― |
* Consumer Defensive Sector Average
CH:EMMN
Emmi AG
879.00
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22.17%
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Emmi AG Corporate Events
Emmi highlights employee-led sustainability projects to reinforce responsible growth
Jun 25, 2026
Emmi Group used its annual Sustainability Day to showcase employee-driven initiatives worldwide, underscoring how environmental and social responsibility is embedded in its corporate strategy and value chain. The event is designed to highlight pro...
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.