Forbo Holding AG (CH:FORN)
:FORN
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Forbo Holding AG
(FORN)
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Rating:60Neutral
Price Target:
CHF795.00
▲(5.86% Upside)
Action:ReiteratedDate:04/09/26
The score is primarily supported by a strong, low-leverage balance sheet and still-positive profitability, but it is held back by a multi-year revenue decline, compressed margins and weaker free-cash-flow conversion. Technicals further weigh on the rating as the stock trades below key moving averages with negative MACD, while valuation is only moderately supportive.
Positive Factors
Low Leverage
Very low debt (≈7% of equity) and rising equity give Forbo durable financial flexibility to absorb weaker demand, fund working capital or selective investments, and maintain distributions. This reduces solvency risk and supports multi-quarter stability and optionality for strategic actions.
Negative Factors
Multi-year Revenue Decline
Sustained top-line contraction over multiple years suggests structural demand weakness or market-share loss. Persistent revenue decline erodes scale benefits, pressures fixed-cost absorption, and makes restoring growth-dependent profitability and investment capacity more challenging without strategy shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low debt (≈7% of equity) and rising equity give Forbo durable financial flexibility to absorb weaker demand, fund working capital or selective investments, and maintain distributions. This reduces solvency risk and supports multi-quarter stability and optionality for strategic actions.
Read all positive factors
Forbo Holding AG (FORN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF1.06B
Dividend Yield2.9%
Average Volume (3M)3.17K
Price to Earnings (P/E)17.9
Beta (1Y)1.15
Revenue Growth-2.80%
EPS Growth-14.35%
CountryCH
Employees5,059
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)25.08
Shares Outstanding1,485,000
10 Day Avg. Volume2,886
30 Day Avg. Volume3,175
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)1.90
Price to Sales (P/S)1.14
P/FCF Ratio39.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF935.00Price Target Upside24.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)55.06
Revenue Forecast (FY)CHF1.08B
Forbo Holding AG Business Overview & Revenue Model
Company Description
Forbo Holding AG produces and sells floor coverings, building and construction adhesives, and power transmission and conveyor belt solutions in Switzerland and internationally. The company operates through two divisions, Flooring Systems and Movem...
How the Company Makes Money
Forbo makes money mainly by selling manufactured products and related solutions through its two core segments. (1) Flooring Systems generates revenue from the sale of floor covering materials (e.g., linoleum and vinyl flooring) and from complement...
Forbo Holding AG Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.09B | 1.12B | 1.18B | 1.29B | 1.25B |
| Gross Profit | 358.60M | 384.90M | 401.70M | 440.80M | 451.00M |
| EBITDA | 140.10M | 169.10M | 185.70M | 194.30M | 238.70M |
| Net Income | 68.90M | 95.10M | 102.30M | 101.40M | 141.20M |
Balance Sheet | |||||
| Total Assets | 980.90M | 975.80M | 901.40M | 972.50M | 994.10M |
| Cash, Cash Equivalents and Short-Term Investments | 90.70M | 109.10M | 69.10M | 46.70M | 93.30M |
| Total Debt | 47.70M | 47.20M | 40.00M | 65.60M | 82.40M |
| Total Liabilities | 331.30M | 349.80M | 347.70M | 422.40M | 472.30M |
| Stockholders Equity | 649.60M | 626.00M | 553.70M | 550.10M | 521.80M |
Cash Flow | |||||
| Free Cash Flow | 31.30M | 135.60M | 114.70M | 50.50M | 128.10M |
| Operating Cash Flow | 76.20M | 135.60M | 160.00M | 81.40M | 166.90M |
| Investing Cash Flow | -44.50M | -43.80M | -44.10M | -30.90M | -38.80M |
| Financing Cash Flow | -49.60M | -51.10M | -87.90M | -93.90M | -290.20M |
Forbo Holding AG Technical Analysis
Neutral
751.00
Price Trends
792.64
Negative
800.41
Negative
779.65
Negative
Market Momentum
-6.71
Negative
52.35
Neutral
70.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:FORN, the sentiment is Neutral. The current price of 751 is above the 20-day moving average (MA) of 712.73, below the 50-day MA of 792.64, and below the 200-day MA of 779.65, indicating a neutral trend. The MACD of -6.71 indicates Negative momentum. The RSI at 52.35 is Neutral, neither overbought nor oversold. The STOCH value of 70.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:FORN.
Forbo Holding AG Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | CHF294.75M | 14.78 | ― | 0.16% | -0.64% | -5.79% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | CHF188.63M | 30.31 | ― | 3.45% | -1.46% | -115.85% | |
60 Neutral | CHF1.06B | 17.93 | 12.91% | 2.90% | -2.80% | -14.35% | |
59 Neutral | CHF1.23B | 16.81 | 15.36% | 1.19% | 1.87% | -26.72% | |
48 Neutral | CHF474.62M | -19.34 | -9.18% | 1.50% | -21.53% | -4693.32% | |
42 Neutral | CHF295.50M | -3.97 | ― | 82.95% | ― | ― |
* Industrials Sector Average
CH:FORN
Forbo Holding AG
740.00
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3.14%
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CH:ELMN
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CH:STGN
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1.63%
Forbo Holding AG Corporate Events
Forbo Shareholders Back All Board Proposals and Approve CHF 25 Dividend
Apr 2, 2026
Forbo Holding AG’s 98th Ordinary General Meeting in Zug saw all proposals from the Board of Directors approved by a clear majority, underscoring strong shareholder support for the group’s direction and governance. Shareholders backed t...
Forbo Shareholders Back All Proposals and Lift Governance Continuity at 98th AGM
Apr 2, 2026
Forbo Holding AG, headquartered in Baar in the Swiss canton of Zug, is a leading global supplier of flooring solutions, building adhesives, and conveyor and power transmission belts, serving international construction, industrial, and commercial m...
Forbo Holds Dividend as Profit Falls on Tough 2025 Market, Bets on Capacity and Leadership Shift
Mar 3, 2026
Forbo reported 2025 net sales of CHF 1,085.4 million, down 0.3% in local currencies and 3.3% in Swiss francs, as a weak macroeconomic and geopolitical backdrop, higher costs, lower capacity utilization and currency headwinds compressed margins and...
Forbo Profits Slide in 2025 as Tough Markets Bite, but Dividend Held and Capacity Expanded
Mar 3, 2026
Forbo Holding AG, a global supplier of flooring systems, construction adhesives and conveyor belts, reported 2025 net sales of CHF 1,085.4 million, down 0.3% in local currencies and 3.3% in Swiss francs amid weak construction markets, trade tensio...
Forbo Names Interroll Executive Heinz Hössli as New Group CFO
Jan 29, 2026
Forbo Holding AG has appointed 56-year-old Swiss executive Heinz Hössli as Chief Financial Officer and member of the Executive Board, effective July 1, 2026, succeeding interim CFO Peter Germann, who will retire after the handover. Hössl...
Forbo Holding AG Names Heinz Hössli as New Group CFO
Jan 29, 2026
Forbo Holding AG has appointed 56-year-old Swiss executive Heinz Hössli as Chief Financial Officer and member of the Executive Board, effective July 1, 2026, replacing interim CFO Peter Germann, who will retire after the handover. Hössli...
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.