Vetropack Holding AG Class A (VETN) AI Stock Analysis

• Market Cap: CHF412.34M
• Dividend Yield: 4.63%
• Average Volume (3M): 18.58K
• Price to Earnings (P/E): 16.2
• Beta (1Y): 0.95
• Revenue Growth: -6.46%
• EPS Growth: -58.18%
• Country: CH
• Employees: 3,585
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Packaging & Containers
• EPS (TTM): 0.25
• Shares Outstanding: 13,774,000
• 10 Day Avg. Volume: 14,333
• 30 Day Avg. Volume: 18,576
• PEG Ratio: -0.83
• Price to Book (P/B): 1.33
• Price to Sales (P/S): 1.20
• P/FCF Ratio: 22.22
• 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): 1.3
• Revenue Forecast (FY): CHF793.90M

• Rating: 54 Neutral
• Price Target: CHF24.00 ▲(9.09% Upside)
• Action: Reiterated Date: 12/09/25
• Date: Action: Reiterated 12/09/25

The overall stock score for Vetropack Holding AG is primarily influenced by its stable financial position and improved cash flow, which are positive aspects. However, the bearish technical indicators and high P/E ratio suggest caution. The lack of recent earnings call data and corporate events means these factors did not influence the score.

Positive Factors

Strong equity ratio

A 61.2% equity ratio signals a robust capital structure for a capital‑intensive glass manufacturer. This resilience supports ongoing maintenance and selective capex, reduces refinancing risk in cyclical downturns, and preserves financial flexibility to fund efficiency projects.

Free cash flow turned positive

A material swing to CHF 45.5m FCF demonstrates improved cash conversion and operational discipline. Positive FCF strengthens the company’s ability to self‑fund maintenance capex, support payouts, and absorb short‑term shocks without raising external capital.

High gross profit margin

Sustained ~61% gross margins indicate structural manufacturing economics and pricing power in container glass. High gross margins give room to cover fixed costs, invest in product customization, and preserve operating profitability even if sales volumes fluctuate.

Negative Factors

Declining revenue

A 6.3% revenue decline signals weakening volume or lost market share in core beverage and food segments. For a fixed‑cost manufacturing base this reduces scale benefits, pressures absorption of overheads, and can erode long‑term margin sustainability if volumes don't recover.

Sharp drop in net profitability

A collapse from 7.0% to 1.6% net margin (and ROE falling from 8.4% to 1.8%) materially weakens returns and internal funding capacity. This reduces room for reinvestment and increases sensitivity to cyclical shocks, challenging long‑term capital allocation and dividend resilience.

Input‑cost passthrough risk

Heavy exposure to energy and raw materials creates structural margin volatility. If Vetropack cannot fully pass higher input or logistics costs to customers, profitability and cash generation will be persistently pressured, limiting competitive investment and margin recovery.

Vetropack Holding AG Class A Business Overview & Revenue Model

Company Description

Vetropack Holding AG, together with its subsidiaries, engages in the development, production, and sale of glass packaging products for the food and beverage industry. It offers glass bottles and jars. The company also serves pharmaceutical and cosmetics industries. It has operations in Switzerland, Austria, the Czech Republic, Croatia, Slovakia, Ukraine, Italy, and the Republic of Moldova. Vetropack Holding AG was founded in 1911 and is headquartered in Bülach, Switzerland.

How the Company Makes Money

Vetropack generates revenue primarily through the production and sale of glass containers to various industries, including food, beverages, pharmaceuticals, and cosmetics. The company's revenue model is centered around long-term contracts with clients, which provide a steady stream of income. Key revenue streams include the sale of standard glass products, custom packaging solutions, and potentially the recycling of glass materials. Significant partnerships with major brands in the beverage and food industries further enhance its earnings, as they provide steady demand and opportunities for collaborative product development. Additionally, the company's focus on sustainable practices, such as utilizing recycled materials in production, can lead to cost savings and improved profit margins.

Vetropack Holding AG Class A Financial Statement Overview

Summary

Vetropack Holding AG shows a stable financial position with strong equity and manageable debt levels. However, the company faces challenges in profitability, with declining revenues and net margins. Despite this, cash flow improvements in 2024 indicate better cash management and operational efficiency.

Income Statement

The income statement reflects mixed results. Gross profit margin has remained strong but saw a decline from 61.2% in 2023 to 61.5% in 2024. Net profit margin dropped significantly from 7.0% in 2023 to 1.6% in 2024 due to reduced net income. Revenue has decreased by 6.3% from 2023 to 2024, indicating a downward trend. Despite a decrease in EBIT and EBITDA margins, the company maintains a reasonable level of profitability.

Balance Sheet

The balance sheet shows a healthy equity ratio of 61.2% in 2024, down from 59.4% in 2023, indicating a strong financial structure. The debt-to-equity ratio increased slightly from 0.34 in 2023 to 0.29 in 2024, reflecting manageable leverage. Return on equity dropped from 8.4% in 2023 to 1.8% in 2024 due to decreased net income, which is a concern for profitability.

Cash Flow

The cash flow statement indicates improvement in free cash flow, turning positive in 2024 at CHF 45.5 million from negative CHF 165.5 million in 2023. Operating cash flow covered net income well with a ratio of 9.9 in 2024. The free cash flow to net income ratio was 3.3, indicating better cash generation relative to profit.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	809.90M	842.10M	898.80M	899.40M	816.50M	662.60M
Gross Profit	370.60M	518.30M	549.90M	281.90M	270.90M	233.70M
EBITDA	120.60M	115.00M	162.90M	129.80M	161.80M	167.10M
Net Income	14.10M	13.70M	63.30M	40.70M	63.80M	81.20M
Balance Sheet
Total Assets	1.23B	1.24B	1.26B	1.23B	1.05B	991.50M
Cash, Cash Equivalents and Short-Term Investments	51.50M	68.20M	82.20M	180.30M	126.20M	104.50M
Total Debt	253.30M	219.10M	255.70M	178.80M	37.50M	44.80M
Total Liabilities	488.30M	479.50M	513.10M	485.20M	273.30M	227.90M
Stockholders Equity	741.00M	758.20M	750.70M	749.30M	774.50M	763.60M
Cash Flow
Free Cash Flow	22.80M	45.50M	-165.50M	-64.10M	63.50M	63.20M
Operating Cash Flow	97.90M	135.80M	72.40M	130.50M	182.70M	136.90M
Investing Cash Flow	-79.10M	-89.40M	-236.50M	-191.70M	-128.20M	-99.00M
Financing Cash Flow	-24.50M	-61.20M	70.30M	119.30M	-32.50M	-32.70M

Vetropack Holding AG Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 22.00
• 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:VETN, the sentiment is Negative. The current price of 22 is below the 20-day moving average (MA) of 23.51, below the 50-day MA of 22.88, and below the 200-day MA of 25.96, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 28.93 is Positive, neither overbought nor oversold. The STOCH value of 4.98 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:VETN.

Vetropack Holding AG Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SIGN	57 Neutral	$4.72B	16.47	6.72%	0.30%	0.37%	-28.40%
VETN	54 Neutral	CHF412.34M	16.16	―	4.63%	-6.46%	-58.18%