Kudelski SA (CH:KUD)
:KUD
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Kudelski SA
(KUD)
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Rating:44Neutral
Price Target:
CHF1.00
▼(-14.53% Downside)
Action:ReiteratedDate:03/01/26
The score is held down primarily by weak fundamentals (net loss, negative EBIT, and two years of negative operating and free cash flow) and bearish technical signals (below major moving averages with negative MACD). Improved leverage provides some support, but valuation is constrained by loss-making results and no dividend data.
Positive Factors
Diversified recurring revenue mix
Kudelski sells licensing, maintenance and managed-security services across Nagravision, Kudelski Security and IoT security. That diversified, subscription-like mix provides durable revenue visibility and resilience to single-market shocks, supporting multi-year cash flow if retention holds.
Negative Factors
Negative operating and free cash flow
Sustained negative OCF and FCF in consecutive years increases reliance on balance-sheet resources or external financing. Continued cash burn constrains R&D, hiring and managed-service investments, raising execution risk and reducing runway for strategic initiatives over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified recurring revenue mix
Kudelski sells licensing, maintenance and managed-security services across Nagravision, Kudelski Security and IoT security. That diversified, subscription-like mix provides durable revenue visibility and resilience to single-market shocks, supporting multi-year cash flow if retention holds.
Read all positive factors
Kudelski SA (KUD) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF73.03M
Dividend YieldN/A
Average Volume (3M)18.24K
Price to Earnings (P/E)―
Beta (1Y)-0.07
Revenue Growth-41.32%
EPS Growth89.56%
CountryCH
Employees1,774
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.12
Shares Outstanding51,547,880
10 Day Avg. Volume16,942
30 Day Avg. Volume18,238
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.29
Price to Sales (P/S)0.23
P/FCF Ratio-4.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.3
Revenue Forecast (FY)CHF385.45M
Kudelski SA Business Overview & Revenue Model
Company Description
Kudelski SA develops and delivers a range of digital security solutions for digital television and interactive applications in Switzerland, the United States, France, the Netherlands, and internationally. It operates through four segments: Digital...
How the Company Makes Money
Kudelski SA makes money primarily by selling and supporting digital security technologies and services across several lines of business. (1) Content protection / Nagravision: The company generates revenue by licensing conditional access, digital r...
Kudelski SA Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 384.05M | 383.73M | 411.70M | 705.88M | 753.93M |
| Gross Profit | 48.78M | 94.88M | 330.97M | 505.42M | 529.16M |
| EBITDA | -20.96M | -21.41M | 7.99M | 31.92M | 34.31M |
| Net Income | -44.43M | 11.41M | -29.40M | -20.66M | 14.59M |
Balance Sheet | |||||
| Total Assets | 561.90M | 571.05M | 921.57M | 964.96M | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 100.31M | 135.49M | 73.46M | 87.97M | 285.01M |
| Total Debt | 129.90M | 73.57M | 330.30M | 352.26M | 532.99M |
| Total Liabilities | 252.77M | 256.66M | 624.57M | 603.39M | 828.78M |
| Stockholders Equity | 304.42M | 306.92M | 269.95M | 334.32M | 361.63M |
Cash Flow | |||||
| Free Cash Flow | -19.52M | -50.59M | 56.82M | -3.18M | 95.71M |
| Operating Cash Flow | -16.36M | -45.37M | 63.85M | 1.51M | 103.13M |
| Investing Cash Flow | -4.03M | 345.20M | -7.04M | -4.46M | 91.85M |
| Financing Cash Flow | -16.21M | -225.91M | -62.54M | -202.49M | -55.10M |
Kudelski SA Technical Analysis
Negative
1.17
Price Trends
1.24
Positive
1.25
Positive
1.32
Negative
Market Momentum
0.01
Positive
48.29
Neutral
21.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:KUD, the sentiment is Negative. The current price of 1.17 is below the 20-day moving average (MA) of 1.31, below the 50-day MA of 1.24, and below the 200-day MA of 1.32, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 48.29 is Neutral, neither overbought nor oversold. The STOCH value of 21.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:KUD.
Kudelski SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | CHF1.32B | 1,526.55 | ― | 3.40% | -5.87% | -224.75% | |
52 Neutral | CHF1.02B | -4.01 | -20.37% | ― | -27.51% | -36.15% | |
50 Neutral | CHF348.09M | 20.05 | 5.15% | ― | -11.90% | -78.34% | |
45 Neutral | CHF906.65M | -10.54 | -12.96% | ― | -5.48% | 79.75% | |
45 Neutral | CHF57.79M | -3.09 | -24.65% | ― | -44.06% | 58.60% | |
44 Neutral | CHF73.03M | -1.96 | -52.82% | ― | -41.32% | 89.56% |
* Technology Sector Average
CH:KUD
Kudelski SA
1.30
0.10
8.33%
CH:AMS
ams-OSRAM
9.17
3.99
77.10%
CH:WIHN
WISeKey International Holding
10.26
4.26
71.00%
CH:LEHN
LEM Holding SA
305.50
-280.50
-47.87%
CH:UBXN
u-blox Holding AG
135.20
70.50
108.96%
CH:SWON
SoftwareOne Holding Ltd.
6.17
1.55
33.49%
Kudelski SA Corporate Events
Kudelski Group Publishes 2025 Annual Report for Investors
Mar 24, 2026
The Kudelski Group has released its 2025 annual report, making detailed financial and operational information available to investors and other stakeholders via its website. The publication underscores the company’s ongoing transparency as a ...
Kudelski Labs Security IP Powers Axelera AI’s Secure Europa Edge Chip
Mar 10, 2026
Kudelski Labs has licensed its Kudelski Secure Enclave (KSE3) security IP to Axelera AI for integration into Europa, Axelera’s new high-performance, low-power edge AI inference processor. The move embeds a hardware root of trust and advanced...
Kudelski Tightens Costs and Refocuses on High-Margin Security as 2025 Revenue Slips
Feb 26, 2026
The Kudelski Group reported 2025 revenues and other operating income of USD 371.0 million, down 4.5% year on year, as it accelerated a broad transformation to streamline legacy operations and channel investment toward high-potential digital securi...
Kudelski’s NAGRAVISION Powers OSN’s First Direct-to-TV Pay Service on Samsung Sets in MENA
Feb 5, 2026
OSN, the leading premium entertainment and pay-TV operator in the Middle East and North Africa, has launched a direct-to-TV version of its OSNtv service on Samsung connected TVs using NAGRAVISION and Samsung’s TVkey Cloud technology, elimina...
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.