HOCHDORF Holding AG (HT5) AI Stock Analysis

• Market Cap: CHF34.52M
• Dividend Yield: N/A
• Average Volume (3M): 4.25K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.40
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: CH
• Employees: 361
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): -0.07
• Shares Outstanding: 16,440,758
• 10 Day Avg. Volume: 5,602
• 30 Day Avg. Volume: 4,253
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.06
• Price to Sales (P/S): 0.00365
• P/FCF Ratio: -0.13
• 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): 0.08
• Revenue Forecast (FY): CHF258.68M

• Rating: 46 Neutral
• Price Target: CHF2.00 ▲(30.72% Upside)

The score is primarily held down by stressed financials—sharp 2024 revenue decline, a very large net loss, and a dramatically thinner equity base—despite some improvement in operating cash flow. Technicals are supportive with price above major averages and positive MACD, but overbought indicators temper momentum. Valuation remains unattractive due to ongoing losses and no dividend yield data.

Positive Factors

Gross margin recovery

Sustained gross-margin improvement to roughly 29–32% reflects better product mix, pricing or cost of goods control. If maintained, higher gross margins provide structural support for restoring operating profitability and absorbing fixed costs during turnaround initiatives.

Operating cash flow turned positive

The shift to marginally positive operating cash flow reduces immediate liquidity pressure and extends runway for restructuring. Persistent positive OCF improves resilience vs. prior years of cash burn and is a durable enabler for deleveraging or targeted reinvestment if sustained.

Low reported financial leverage

No reported debt lowers fixed interest obligations and gives flexibility for operational restructuring or strategic moves. With little leverage, management has greater capacity to recapitalise or seek financing on better terms, aiding longer-term recovery options.

Negative Factors

Severe equity erosion

A collapse in equity drastically reduces the company’s loss-absorbing capacity and heightens insolvency risk. This materially constrains capital allocation, limits ability to withstand further shocks, and makes external financing harder or more dilutive over the medium term.

Revenue decline and volatility

A significant YoY revenue drop and historical volatility undermine scale and operating leverage, making margin recovery harder. Persistent top-line weakness reduces cash generation potential and strategic flexibility, challenging sustainable turnaround without durable demand improvement.

Large net loss and weak earnings quality

A very large net loss indicates operating and non-operating burdens that erode capital and hinder reinvestment. Even with better gross margins, persistent bottom-line losses reduce investor confidence, restrict strategic options, and slow recovery unless fixed-cost structure and one-off charges are resolved.

HOCHDORF Holding AG Business Overview & Revenue Model

Company Description

HT5 AG does not have significant operations. The company was involved in the processing of milk producing and products activity. The company was formerly known as Hocn AG and changed its name to HT5 AG in April 2025. HT5 AG was founded in 1895 and is based in Hochdorf, Switzerland.

How the Company Makes Money

HOCHDORF Holding AG Financial Statement Overview

Summary

Financials indicate significant stress: 2024 revenue fell ~19% YoY and profitability deteriorated sharply into a very large net loss. Equity collapsed (from ~158M to ~13.8M), reducing the loss-absorbing cushion despite zero reported debt. Operating cash flow is only marginally positive and free cash flow returned to negative in 2024, suggesting limited financial flexibility until results stabilize.

Income Statement

Revenue has been volatile and recently weakened, with 2024 revenue down ~19% year over year after modest growth in 2023. Profitability deteriorated sharply in 2024, with deeply negative operating results and a very large net loss, reversing the relatively modest losses seen in 2022–2023. While gross margin improved meaningfully from very low levels in 2020–2022 to ~29–32% in 2023–2024, the benefit did not translate into bottom-line performance due to heavy operating and non-operating burdens, leaving overall earnings quality and stability weak.

Balance Sheet

The balance sheet shows significant erosion: equity collapsed from ~158M (2023) to ~13.8M (2024) alongside a steep reduction in total assets, consistent with major write-downs, restructuring, or disposals. Leverage looks low in 2024 because reported debt is zero, but the much smaller equity base increases financial fragility and reduces loss-absorbing capacity. Returns on equity are strongly negative in 2024, highlighting severe value destruction and limited cushion for further shocks.

Cash Flow

Cash generation improved versus prior years of negative operating cash flow (2020–2022), turning slightly positive in 2023 and remaining marginally positive in 2024. However, free cash flow swung back to negative in 2024 after being positive in 2023, indicating ongoing reinvestment needs or restructuring cash costs. The weak conversion of accounting earnings into cash in 2024 (small operating cash flow despite a very large loss) suggests cash flow stability remains a concern even with the recent improvement from earlier trough levels.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	241.19M	307.84M	292.14M	303.51M	306.20M
Gross Profit	76.92M	90.18M	23.21M	14.50M	-29.30M
EBITDA	-163.96M	6.16M	-10.39M	19.63M	15.80M
Net Income	-178.63M	-10.21M	-15.80M	2.55M	-70.13M
Balance Sheet
Total Assets	16.03M	271.71M	283.35M	293.34M	323.84M
Cash, Cash Equivalents and Short-Term Investments	15.78M	14.56M	10.43M	24.54M	12.64M
Total Debt	0.00	67.12M	183.68M	173.79M	216.44M
Total Liabilities	2.24M	113.82M	232.05M	226.51M	259.73M
Stockholders Equity	13.79M	157.89M	51.24M	66.78M	64.02M
Cash Flow
Free Cash Flow	-6.61M	6.92M	-24.19M	-28.50M	-24.40M
Operating Cash Flow	191.00K	13.80M	-22.23M	-24.33M	-20.83M
Investing Cash Flow	5.65M	-5.93M	-1.95M	79.21M	28.63M
Financing Cash Flow	-4.38M	-3.38M	10.04M	-43.00M	-15.38M

HOCHDORF Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
HT5	46 Neutral	CHF34.52M	-0.12	―	―	―	―
ORON	44 Neutral	CHF71.81M	-1.66	―	―	-1.86%	-303.03%

HOCHDORF Holding AG Corporate Events

HT5 to Merge With UPS Specialist Centiel in CHF 125 Million Deal and Raise Up to CHF 60 Million for Growth

HT5 AG has signed a transaction agreement to merge with Lugano-based CENTIEL SA, a fast-growing global provider of mission-critical uninterruptible power supply systems whose technology is used to secure data centres, industrial facilities and other critical applications. The deal, structured as an absorption merger under Swiss law, values debt-free Centiel at CHF 125 million and HT5 at CHF 2.04 per share, and will be accompanied by an ordinary capital increase, a secondary placement from Centiel’s founders to create free float, and an additional cash capital increase of up to CHF 60 million to fund further expansion. Centiel, which operates in more than 60 countries and expects unaudited 2025 revenues of around CHF 46 million and an EBIT margin of 22%, would gain a Swiss listing and fresh growth capital, while HT5 advances its strategy of combining with an operating business and repositioning itself as a listed technology champion, with completion targeted for the first half of 2026, subject to standard conditions and shareholder approval.

HT5 AG Completes Bond Conversion and Eyes Strategic Growth

HT5 AG has announced the mandatory conversion of its hybrid bond into registered shares, following the lifting of a debt restructuring moratorium by the District Court of Hochdorf. This conversion is part of the company’s restructuring efforts and will result in the issuance of 14,289,000 new shares. The company is also evaluating a partnership for listing on the SIX Swiss Exchange, indicating strategic growth and potential market expansion.