Mikron Holding AG (MIKN) AI Stock Analysis

• Market Cap: CHF264.95M
• Dividend Yield: 2.43%
• Average Volume (3M): 9.26K
• Price to Earnings (P/E): 10.5
• Beta (1Y): 0.66
• Revenue Growth: -1.94%
• EPS Growth: 6.63%
• Country: CH
• Employees: 1,588
• Sector: General
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 0.85
• Shares Outstanding: 16,712,744
• 10 Day Avg. Volume: 6,289
• 30 Day Avg. Volume: 9,263
• PEG Ratio: 0.68
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.89
• P/FCF Ratio: -28.36
• 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): 1.49
• Revenue Forecast (FY): CHF359.20M

• Rating: 69 Neutral
• Price Target: CHF17.50 ▼(-16.27% Downside)
• Action: Downgraded Date: 03/13/26
• Date: Action: Downgraded 03/13/26

The score is driven mainly by strong financial quality (especially a conservative balance sheet and improved profitability), supported by favorable valuation (low P/E and decent dividend). This is tempered by weak technical conditions (below key moving averages with negative momentum) and the risk signal from cash flow volatility, including negative free cash flow in 2025.

Positive Factors

Sustained Revenue Recovery

Mikron's multi-year revenue increase demonstrates the company can win larger or more contracts and recover from prior weakness. This scale expansion supports durable demand for its machining and automation offerings, strengthening customer relationships and reinvestment capacity.

Improving and Stable Margins

Improved gross margins and stabilized EBIT/EBITDA margins point to better operational efficiency and pricing power in core machining and automation. Sustained margin recovery increases free cash generation and buffers the business versus cyclicality, supporting long-term profitability.

Strong Cash Generation

Consistent operating cash flow growth and higher free cash flow reflect efficient cash conversion from operations. Reliable cash generation provides flexibility for capex, R&D, dividends or debt reduction, enhancing financial resilience and ability to fund strategic automation projects.

Negative Factors

Rising Total Liabilities

An increase in total liabilities, even with currently conservative leverage, can erode financial flexibility if the trend continues. Higher obligations raise refinancing and interest exposure, limiting capacity for opportunistic investment and increasing vulnerability to demand downturns.

Volatile Capex and Financing Flows

Irregular capex and financing patterns signal uneven capital allocation and potential mismatch between investment timing and cash generation. Persistent volatility complicates long-term planning for automation equipment rollouts and may pressure margins if spending spikes occur during weaker demand.

Recent Top-line Variability

A recent negative revenue growth reading suggests top-line variability that could reflect order cyclicality or spot exposure to cyclical end markets. Continued revenue swings would challenge steady margin expansion and make multi-period forecasting for large automation contracts harder.

Mikron Holding AG Business Overview & Revenue Model

Company Description

Mikron Holding AG develops, produces, and markets automation and machining systems for precise and productive manufacturing processes worldwide. The company operates in two segments, Mikron Automation and Mikron Machining Solutions. The Mikron Automation segment manufactures scalable and customized assembly systems. Its solutions include automation assembly and testing systems; feeding systems; and spare parts, technical support, improvement, training, and partner support services. This segment serves the pharma/medtech, automotive, electric/electronics, and consumer goods markets. The Mikron Machining Solutions segment supplies machining systems for the manufacture of high-precision components made of metal, such as turbocharger housings, injection nozzles, and ballpoint pen tips. It offers productive systems, writing industry equipment, and pre-machining equipment; and support services. This segment also develops and produces high-performance cutting tools. It serves the automotive, electric/electronics, writing, consumer goods, hydraulic/pneumatic, pharma/medtech, industrial/building, and others markets. Mikron Holding AG was founded in 1908 and is based in Biel, Switzerland.

How the Company Makes Money

Mikron Holding AG makes money primarily by selling industrial equipment and solutions to business customers. Its revenue is generated from (1) the sale of machines, production/automation systems, and related engineering services delivered as customer-specific projects; and (2) recurring aftermarket revenue tied to the installed base, such as spare parts, maintenance/service work, and other lifecycle support associated with its equipment. Earnings are influenced by the volume and timing of capital-expenditure orders from industrial clients, the company’s ability to execute projects profitably (engineering and production efficiency), and the level of utilization and service demand from the installed base. Specific material partnerships or customer concentration details are null.

Mikron Holding AG Financial Statement Overview

Summary

Strong, low-risk balance sheet (minimal leverage and steadily growing equity) supports a high score, and profitability has improved materially versus 2020 with consistently positive net income since 2021. The main drag is volatile cash generation, including negative free cash flow in 2025 after a strong 2024, plus some data-quality gaps in the latest-year margin/return fields.

Income Statement

Profitability has improved materially versus 2020 (when margins and net income were negative), with consistently positive net income from 2021–2025 and solid operating profitability (EBIT margin ~6% to ~10% across the period). Revenue rebounded strongly after 2020, but the growth trajectory is uneven—2024 was roughly flat, while 2025 shows a sharp acceleration. A key watch item is data quality/consistency: 2025 gross profit margin is shown as 0.0 despite strong EBIT and net income, which limits confidence in the gross margin trend for the latest year.

Balance Sheet

The balance sheet looks very conservative: debt is minimal relative to equity across all years (debt-to-equity stays low, peaking in 2020 and improving substantially thereafter). Equity has grown steadily from 2020 to 2025, supporting a stronger capital base. Total assets are broadly stable to modestly higher, and leverage appears well-controlled, which reduces financial risk. Some profitability-on-equity fields for 2025 are shown as 0.0, so the latest-year return profile cannot be fully validated from the provided data.

Cash Flow

Cash generation is the main weak spot. Operating cash flow and free cash flow are volatile: 2024 was very strong (positive free cash flow and healthy conversion versus net income), but 2025 deteriorated sharply with negative free cash flow and free cash flow below net income. Earlier years also show inconsistency (e.g., modest cash flow in 2023 despite solid earnings, and negative free cash flow in 2020). This pattern suggests earnings-to-cash conversion can fluctuate meaningfully year to year, likely driven by working capital and/or investment swings.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	375.23M	381.90M	374.06M	370.24M	309.44M	289.45M
Gross Profit	252.69M	87.94M	246.45M	238.36M	62.12M	58.60M
EBITDA	47.66M	39.50M	40.68M	43.01M	35.00M	27.32M
Net Income	31.55M	32.50M	27.88M	28.79M	24.20M	17.01M
Balance Sheet
Total Assets	391.69M	379.11M	399.12M	374.21M	345.92M	300.04M
Cash, Cash Equivalents and Short-Term Investments	105.77M	100.10M	123.29M	84.02M	64.23M	54.35M
Total Debt	2.78M	2.06M	2.77M	3.79M	5.58M	7.71M
Total Liabilities	160.97M	142.48M	172.93M	170.41M	159.90M	134.97M
Stockholders Equity	230.72M	236.63M	226.19M	203.81M	186.02M	165.07M
Cash Flow
Free Cash Flow	25.54M	-12.02M	49.97M	1.47M	16.27M	30.00M
Operating Cash Flow	50.94M	12.89M	69.42M	10.47M	27.56M	50.35M
Investing Cash Flow	-41.67M	-49.51M	20.31M	5.53M	-45.95M	-17.81M
Financing Cash Flow	-10.40M	-9.46M	-10.95M	-9.96M	-6.03M	-16.94M

Mikron Holding AG Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 20.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:MIKN, the sentiment is Negative. The current price of 20.9 is above the 20-day moving average (MA) of 17.01, above the 50-day MA of 18.22, and above the 200-day MA of 18.55, indicating a bearish trend. The MACD of -0.47 indicates Positive momentum. The RSI at 33.88 is Neutral, neither overbought nor oversold. The STOCH value of 12.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:MIKN.

Mikron Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MIKN	69 Neutral	CHF264.95M	10.49	14.23%	2.43%	-1.94%	6.63%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
STGN	54 Neutral	CHF183.74M	-5.07	―	3.45%	-1.46%	-115.85%
FTON	51 Neutral	CHF142.92M	-20.84	-1.88%	―	-15.70%	-670.93%
RIEN	46 Neutral	CHF436.61M	-2.53	―	7.53%	-28.40%	-117.97%
KOMN	44 Neutral	CHF252.78M	-36.22	―	―	-13.64%	-281.19%

Mikron Holding AG Corporate Events

Mikron Lifts Profit Margin Above 10% as Pharma and Medtech Drive Resilience

Mikron Holding AG, a Swiss industrial group specializing in precision automation systems, machining platforms and cutting tools for pharma, medtech and other manufacturing sectors, reported a stronger 2025 financial performance despite a weaker investment climate. The company’s heavy exposure to pharma and medtech, now accounting for two-thirds of sales, underscores its strategic focus on structurally growing, higher-margin markets and supports its positioning as a resilient, technology-driven supplier.

For 2025, Mikron increased net sales by 2.1% to CHF 381.9 million and lifted its operating EBIT margin to 10.3% from 8.5%, as higher Automation sales in Europe and capacity adjustments in the U.S. drove a 23.6% rise in operating profit. While order intake fell 14.4% to CHF 332.7 million and backlog declined, reflecting cautious investment and geopolitical headwinds, the group remains financially solid, is launching cost-cutting and site expansion in Machining Solutions to bolster competitiveness, and plans to raise its shareholder payout to CHF 0.60 per share.

Mikron cautions that both segments saw lower orders toward year-end, with Automation’s slowdown viewed as temporary but Machining Solutions facing more persistent market weakness. For 2026, management guides for net sales between CHF 340 million and CHF 380 million and an operating EBIT margin between 7% and 10%, signalling expectations of softer top-line momentum but continued focus on maintaining healthy profitability.

The most recent analyst rating on (CH:MIKN) stock is a Buy with a CHF19.00 price target. To see the full list of analyst forecasts on Mikron Holding AG stock, see the CH:MIKN Stock Forecast page.

Mikron Sets March Date for Annual Results Briefing and Investor Updates

Mikron Holding AG has invited media representatives and financial analysts to a physical conference in Zurich on March 6, 2026, where CEO Marc Desrayaud and CFO Philippe Wirth will present and discuss the group’s latest annual results. The event is part of the company’s investor relations agenda, which also includes the publication of its 2025 annual report the same morning, the 2026 annual general meeting in April, and the release of semiannual results in July, underscoring Mikron’s ongoing engagement and transparency with capital market stakeholders.

The planned communications schedule signals Mikron’s intent to keep investors closely informed about its operational and financial performance at regular intervals. By combining detailed disclosures with direct dialogue at the conference, the group reinforces its positioning as a globally active, innovation-driven supplier to key manufacturing industries and provides an opportunity for analysts and investors to assess its strategic progress and market outlook.

The most recent analyst rating on (CH:MIKN) stock is a Buy with a CHF19.00 price target. To see the full list of analyst forecasts on Mikron Holding AG stock, see the CH:MIKN Stock Forecast page.

Mikron lifts 2025 sales and margins but faces shrinking order book

Mikron Holding AG reported provisional, unaudited net sales of CHF 381.9 million for 2025, up 2.1% year-on-year, or 4.1% in constant currencies, driven by a 7.2% sales increase in its Automation segment to CHF 250.1 million, while its Machining Solutions business declined 6.2% to CHF 132.0 million amid a challenging economic environment. Despite robust growth in Automation and an expected improvement in operating profit margin to about 10.4% from 8.5% a year earlier, the group faces headwinds from a 14.4% drop in order intake to CHF 332.7 million and a 14.8% lower order backlog of CHF 276.1 million, reflecting cautious customer investment and a broad slowdown in European markets, which could temper future growth momentum ahead of the detailed 2025 results in March.

The most recent analyst rating on (CH:MIKN) stock is a Hold with a CHF20.00 price target. To see the full list of analyst forecasts on Mikron Holding AG stock, see the CH:MIKN Stock Forecast page.