medmix AG (MEDX) AI Stock Analysis

• Market Cap: CHF388.69M
• Dividend Yield: 4.54%
• Average Volume (3M): 115.75K
• Price to Earnings (P/E): 60.2
• Beta (1Y): 1.14
• Revenue Growth: -2.42%
• EPS Growth: -222.68%
• Country: CH
• Employees: 2,684
• Sector: Healthcare
• Sector Strength: 45
• Industry: Industrial - Machinery
• EPS (TTM): 0.33
• Shares Outstanding: 41,262,370
• 10 Day Avg. Volume: 183,978
• 30 Day Avg. Volume: 115,752
• PEG Ratio: -0.38
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 1.02
• P/FCF Ratio: 13.76
• 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): 0.69
• Revenue Forecast (FY): CHF475.81M

• Rating: 56 Neutral
• Price Target: CHF12.00 ▲(6.76% Upside)
• Action: Reiterated Date: 11/26/25
• Date: Action: Reiterated 11/26/25

The overall stock score is primarily influenced by the company's mixed financial performance, with operational challenges and increased leverage being significant concerns. Technical analysis indicates a bearish trend, while valuation is affected by a negative P/E ratio, although the high dividend yield offers some compensation.

Positive Factors

Recurring consumables and installed-base revenue

medmix’s business model includes high-repeat consumables tied to installed dispensing equipment. This creates a durable annuity-like revenue stream as customers repurchase tips and single-use components, supporting steady demand and higher lifetime value per customer once systems are specified.

Positive free cash flow generation

Sustained positive free cash flow, even after a sharp YoY decline, indicates the company generates internal resources to fund operations, service debt, and support strategic projects. Reliable cash generation enhances financial flexibility and reduces reliance on external financing over the medium term.

Diversified industrial and healthcare end markets

Serving both industrial and healthcare customers plus providing hardware, consumables, and engineering services spreads revenue risk across sectors. Healthcare program wins can convert to multi-year supply contracts, while industrial specifications drive steady consumable demand, improving revenue resilience.

Negative Factors

Revenue weakness and recent declines

Recent revenue declines indicate demand softness and limit operating leverage. With top-line stagnation, the company faces pressure to grow organically or win large programs to restore scale; prolonged revenue weakness constrains margin recovery and reinvestment capacity.

Thin profitability and low returns

Very low net margins and weak ROE imply the business currently converts little of revenue into shareholder returns. This limits internal capital for R&D, capex, or payouts, and provides a thin buffer against cost shocks, making sustained margin improvement essential for durable financial health.

Rising leverage reduces financial flexibility

Debt approaching parity with equity increases fixed obligations and reduces flexibility for strategic investments or payouts. Higher leverage elevates refinancing and interest-rate risk, constraining the company’s ability to pursue growth initiatives or absorb cyclical downturns without pressuring cash flow.

medmix AG Business Overview & Revenue Model

Company Description

Medmix AG designs, develops, manufactures, and delivers high-precision devices and services for the mixing, application, and injection of liquids in a range of viscosities for the healthcare, consumer, and industrial end markets worldwide. It operates through five segments: Dental, Drug Delivery, Surgery, Industry, and Beauty. The Dental segment offers mixing tips, dispensers, needles, accessories, and service solutions for various applications, such as prosthetics, restorations, anesthetics, and aesthetics. The Drug Delivery segment offers drug delivery devices that are used to inject fertility drugs and growth hormones; and to treat niche diabetes indications, osteoporosis, and rare diseases. The Surgery segment provides mixing and delivery devices which are used to inject bone cement, and to apply hemostatic sealants for internal and external wound treatment during surgical procedures. The Industry segment produces and markets dispensers, cartridges, and mixers for two-component adhesives and sealants for use in the construction, transportation, electronics, infrastructure, and general industrial sectors. The Beauty segment offers micro brushes, mascara, lip gloss and concealers. The company offers its products under the Mixpac, Transcodent, Cox, MK, Medmix, Haselmeier, and Geka brands. The company was founded in 1922 and is based in Zug, Switzerland.

How the Company Makes Money

medmix AG generates revenue primarily through the sale of its advanced delivery systems and products across its various sectors. The company's key revenue streams include the manufacturing and distribution of injection systems for pharmaceuticals, medical devices, and consumer goods. Additionally, medmix benefits from long-term partnerships with major pharmaceutical and biotech companies, which often involve collaboration on specialized projects and co-development of innovative delivery solutions. The company also focuses on expanding its market reach through strategic acquisitions and investments in research and development, which contribute to its overall earnings by enhancing its product offerings and improving operational efficiencies.

medmix AG Financial Statement Overview

Summary

medmix AG faces mixed financial health. While cash flow generation shows some resilience, the income statement highlights profitability challenges, and the balance sheet indicates increasing leverage. The company needs to bolster revenue growth and manage liabilities to improve its financial standing.

Income Statement

The company shows a stable gross profit margin of approximately 33% over the years, but the net profit margin has been volatile, recently turning negative in the latest period. Though revenue has shown minimal fluctuation, the overall growth trajectory is weak. EBIT and EBITDA margins suggest operational challenges, with declining EBIT over recent periods.

Balance Sheet

The company's debt-to-equity ratio has increased over time, indicating higher leverage, while the equity ratio has slightly decreased. Return on equity has diminished, reflecting reduced profitability. The balance sheet reveals potential risks from increased liabilities relative to equity.

Cash Flow

The company has improved its cash flow operations, evident from positive operating cash flow growth. However, free cash flow growth has been inconsistent, although it has turned positive recently. The operating cash flow to net income ratio is strong, indicating efficient cash generation relative to net income.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	448.00M	483.90M	486.60M	477.10M	457.30M
Gross Profit	161.90M	159.70M	157.70M	175.40M	181.20M
EBITDA	79.70M	67.60M	68.40M	68.30M	110.60M
Net Income	6.40M	-7.40M	300.00K	11.60M	44.00M
Balance Sheet
Total Assets	969.30M	954.20M	1.01B	1.11B	974.40M
Cash, Cash Equivalents and Short-Term Investments	113.90M	96.20M	130.60M	316.80M	210.00M
Total Debt	391.90M	323.40M	349.70M	473.50M	320.90M
Total Liabilities	536.50M	507.50M	532.40M	601.10M	440.50M
Stockholders Equity	425.70M	436.40M	465.40M	504.80M	533.90M
Cash Flow
Free Cash Flow	33.30M	38.10M	3.20M	9.00M	55.40M
Operating Cash Flow	67.80M	86.60M	56.10M	47.60M	87.30M
Investing Cash Flow	-40.70M	-51.50M	-80.60M	-57.00M	-3.30M
Financing Cash Flow	-36.30M	-48.60M	-153.80M	116.10M	111.60M

medmix AG Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:MEDX, the sentiment is Negative. The current price of 11.24 is below the 20-day moving average (MA) of 11.28, below the 50-day MA of 11.38, and above the 200-day MA of 10.65, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 20.51 is Positive, neither overbought nor oversold. The STOCH value of 17.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:MEDX.

medmix AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MIKN	71 Outperform	CHF278.70M	9.14	14.20%	2.43%	-1.94%	6.63%
MEDX	56 Neutral	CHF388.69M	60.19	―	4.54%	-2.42%	-222.68%
STGN	54 Neutral	CHF182.65M	-48.65	―	3.45%	-1.46%	-115.85%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FTON	51 Neutral	CHF151.76M	-18.90	-9.74%	―	-15.70%	-670.93%
KOMN	49 Neutral	CHF345.07M	-33.38	―	―	-13.64%	-281.19%
RIEN	46 Neutral	CHF416.80M	-2.51	―	7.53%	-28.40%	-117.97%

medmix AG Corporate Events

Medmix Lifts Margins and Returns to Profit Amid Revenue Decline and Strategic Shift to Healthcare

Medmix reported 2025 revenue down 4.8% organically to CHF 448 million as weakness in beauty packaging and a key drug delivery customer’s dual sourcing outweighed growth in dental, surgery, and industrial. Despite the topline decline and softer operating cash flow, the company lifted its adjusted EBITDA margin to 20%, returned to a CHF 7 million net profit, and expanded gross margins on the back of a richer dental mix and accelerated savings from its Growth and Efficiency program.

The group reshaped leadership with deputy CFO Sven Luginbühl promoted to CFO and outgoing CFO Jennifer Dean moving to head the underperforming Beauty unit, while the board proposed a reduced CHF 0.10 dividend and adopted a performance-linked payout policy to prioritize balance sheet strength and strategic investment. Management guided for flat to low single‑digit organic growth and roughly 20% adjusted EBITDA margin in 2026, while raising its mid-term profitability target to above 21%, underscoring confidence that its healthcare pivot and cost measures will continue to support margin expansion in a challenging macro environment.

The most recent analyst rating on (CH:MEDX) stock is a Hold with a CHF12.00 price target. To see the full list of analyst forecasts on medmix AG stock, see the CH:MEDX Stock Forecast page.