VAT Group AG (VACN) AI Stock Analysis

• Market Cap: CHF13.31B
• Dividend Yield: 1.63%
• Average Volume (3M): 128.94K
• Price to Earnings (P/E): 59.6
• Beta (1Y): 1.24
• Revenue Growth: 19.22%
• EPS Growth: 11.62%
• Country: CH
• Employees: 3,202
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 3.52
• Shares Outstanding: 30,000,000
• 10 Day Avg. Volume: 110,134
• 30 Day Avg. Volume: 128,937
• PEG Ratio: 4.34
• Price to Book (P/B): 13.63
• Price to Sales (P/S): 10.91
• P/FCF Ratio: 55.56
• 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: CHF376.33
• Price Target Upside: -15.18% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: CHF480.00 ▲(8.18% Upside)

The score is driven primarily by strong financial health (especially a zero-debt balance sheet) and a clear upward technical trend. Offsetting factors are the recent EBIT margin drop to zero (profitability risk) and a stretched valuation (high P/E), with overbought momentum signals adding near-term downside risk.

Positive Factors

Zero Net Debt

Zero total debt materially reduces financial risk and interest burden, giving VAT flexibility to invest in R&D, capex or M&A and weather cyclical downturns. This balance-sheet strength supports durable operations and strategic optionality over the next several quarters.

Sustained Revenue Growth

High mid-teens revenue growth reflects sustained product demand and expanding market penetration in core end markets. Continued top-line expansion underpins reinvestment in technology and aftermarket services, supporting durable earnings recovery and market share gains over 2–6 months.

Strong Gross Margins

Consistently strong gross margins indicate structural cost advantages or pricing power in vacuum components. Margin resilience provides a buffer against input inflation and supports long-term profitability, enabling durable cash generation and funding for product development.

Negative Factors

EBIT Margin Collapse

A recent drop of EBIT to zero signals a material deterioration in operating profitability, which may stem from cost overruns, pricing pressure or mix shifts. If persistent, this undermines free cash flow and return on capital, requiring operational fixes to restore durable earnings.

Weakening Cash Conversion

Slowing free cash flow growth and reduced cash conversion weaken financial flexibility, limiting ability to fund capex, R&D or dividends from operations. Prolonged weakness can force external financing or asset sales, raising long-term execution and investment risk.

End-market Concentration Risk

Heavy exposure to cyclical semiconductor, solar and display markets increases revenue volatility and capacity-utilization risk. Even with strong products, downturns in these sectors can persistently compress orders and elongate recovery timelines, pressuring medium-term fundamentals.

VAT Group AG Business Overview & Revenue Model

Company Description

VAT Group AG, together with its subsidiaries, develops, manufactures, and supplies vacuum valves in Switzerland, rest of Europe, the United States, Japan, Korea, Singapore, China, rest of Asia, and internationally. The company operates through two segments, Valves and Global Service. The Valves segment offers vacuum valves for the semiconductor, displays, photovoltaics, and vacuum coating industries, as well as for the industrial and research sectors. The Global Service segment provides spare parts, repairs, and upgrades, as well as support services. It also offers gas inlet valves, multi valve modules, vacuum chambers with integrated valves, motion and mechanical components, and edge-welded metal bellows. VAT Group AG was founded in 1965 is headquartered in Sennwald, Switzerland.

How the Company Makes Money

VAT Group AG generates revenue primarily through the sale of its vacuum valves and related products to customers in the semiconductor and industrial manufacturing sectors. The company has a diversified revenue model that includes direct sales to end-users, as well as sales through distributors and partners. Key revenue streams include the sale of new equipment, aftermarket services, and maintenance contracts, which provide ongoing revenue from existing customers. Additionally, VAT Group AG benefits from strategic partnerships with major players in the semiconductor industry, which help enhance its market position and drive sales. The company's focus on research and development enables it to introduce innovative products that meet the evolving needs of its customers, further supporting its revenue growth.

VAT Group AG Financial Statement Overview

Summary

VAT Group AG exhibits strong financial health with consistent revenue growth and a solid balance sheet. Despite a temporary dip in EBIT, the company's low leverage and positive cash flow position it well for future growth. Continuous monitoring of operational efficiency and cash conversion metrics is recommended.

Income Statement

VAT Group AG has shown steady revenue growth over the years, with significant improvements in income metrics. The Gross Profit Margin has been strong, indicating efficient cost management. However, EBIT Margin dropped to zero in the most recent period, raising concerns about operational efficiency.

Balance Sheet

The company presents a solid balance sheet with zero total debt in the latest period, indicating financial stability. The Equity Ratio is healthy, and Return on Equity is strong, reflecting effective use of shareholder funds. Overall, the balance sheet shows low leverage and high equity, minimizing financial risks.

Cash Flow

The cash flow statement reveals robust operating cash flow, with positive Free Cash Flow in recent years. However, there is a decline in Free Cash Flow growth rate, and the operating cash flow to net income ratio has decreased, highlighting potential cash conversion issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.05B	942.20M	885.32M	1.15B	901.16M	692.43M
Gross Profit	547.83M	634.15M	299.64M	469.65M	336.00M	224.26M
EBITDA	324.48M	303.15M	255.99M	402.28M	306.86M	200.98M
Net Income	223.37M	211.80M	190.31M	306.78M	217.44M	127.94M
Balance Sheet
Total Assets	1.36B	1.29B	1.17B	1.28B	1.07B	993.96M
Cash, Cash Equivalents and Short-Term Investments	148.28M	158.15M	144.15M	174.40M	127.19M	137.90M
Total Debt	410.12M	241.79M	207.31M	214.33M	206.94M	266.34M
Total Liabilities	663.12M	540.87M	411.30M	496.58M	435.13M	449.39M
Stockholders Equity	694.32M	753.88M	757.16M	780.32M	634.37M	544.57M
Cash Flow
Free Cash Flow	216.72M	184.97M	187.17M	223.50M	192.00M	141.79M
Operating Cash Flow	266.52M	240.64M	256.41M	289.74M	234.97M	161.08M
Investing Cash Flow	-62.09M	-57.39M	-67.65M	-66.22M	-44.23M	-19.22M
Financing Cash Flow	-160.25M	-172.50M	-205.58M	-172.58M	-201.76M	-111.75M

VAT Group AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 443.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:VACN, the sentiment is Positive. The current price of 443.7 is above the 20-day moving average (MA) of 399.68, above the 50-day MA of 365.63, and above the 200-day MA of 324.80, indicating a bullish trend. The MACD of 20.00 indicates Negative momentum. The RSI at 72.52 is Negative, neither overbought nor oversold. The STOCH value of 90.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:VACN.

VAT Group AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUN	75 Outperform	CHF5.20B	19.05	23.37%	2.90%	5.79%	13.20%
VACN	72 Outperform	CHF13.31B	59.56	32.09%	1.63%	19.22%	11.62%
BUCN	65 Neutral	CHF3.56B	15.79	―	2.99%	-11.64%	-24.17%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
INRN	59 Neutral	CHF1.88B	31.67	―	1.46%	-3.67%	-12.95%
OERL	57 Neutral	CHF1.13B	-1,123.87	―	6.26%	-17.75%	83.94%
GF	54 Neutral	CHF4.38B	15.81	―	2.53%	-24.42%	32.48%

VAT Group AG Corporate Events

VAT Group AG Reports Strong Q3 Revenue Growth Amid Market Challenges

VAT Group AG reported a 23% increase in revenue for the third quarter of 2025 compared to the previous year, despite facing challenges such as global uncertainties and negative currency effects. The company’s semiconductor segment saw a decline in order intake, but revenue increased due to the execution of existing orders. VAT expects market recovery in 2026, with continued growth in advanced industrials and global services, while the semiconductor sector anticipates a gradual acceleration in investment cycles.

The most recent analyst rating on (CH:VACN) stock is a Hold with a CHF360.00 price target. To see the full list of analyst forecasts on VAT Group AG stock, see the CH:VACN Stock Forecast page.

VAT Group AG Announces Q3 2025 Conference Call

VAT Group AG announced a conference call for its third quarter 2025 report, where CEO Urs Gantner and CFO Fabian Chiozza will discuss business conditions and future expectations. This call reflects the company’s commitment to transparency and stakeholder engagement, providing insights into its operational performance and strategic outlook.

The most recent analyst rating on (CH:VACN) stock is a Hold with a CHF325.00 price target. To see the full list of analyst forecasts on VAT Group AG stock, see the CH:VACN Stock Forecast page.