Company Valuation: Ascom Holding AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 423.3 266.8 295.2 149.4 137.2 172.8 - -
Change - -36.96% 10.61% -49.38% -8.17% 25.96% - -
Enterprise Value (EV) 1 393.8 256.4 275.9 135.9 107.6 139.7 130.6 122.7
Change - -34.87% 7.57% -50.73% -20.82% 29.86% -6.51% -6.08%
P/E 31.8x 24.8x 17.1x 41.6x 9.1x 12.3x 11.3x 10.8x
PBR 5.3x 3.64x 3.75x 2.01x 1.63x 2.05x 1.9x 1.77x
PEG - -1.3x 0.3x -0.5x 0x 6.97x 1.24x 2.58x
Capitalization / Revenue 1.45x 0.9x 0.99x 0.52x 0.47x 0.58x 0.57x 0.55x
EV / Revenue 1.35x 0.86x 0.93x 0.47x 0.37x 0.47x 0.43x 0.39x
EV / EBITDA 13.7x 10.7x 9.17x 6.38x 3.14x 4.21x 3.69x 3.37x
EV / EBIT 24.9x 18.3x 13.7x 17.9x 5.3x 6.81x 5.87x 5.37x
EV / FCF -3,938x -80.1x 16.9x 30.2x 5.01x 13.1x 9.75x 8.35x
FCF Yield -0.03% -1.25% 5.91% 3.31% 20% 7.66% 10.3% 12%
Dividend per Share 2 0.2 0.2 0.3 0.1 0.1 0.2 0.2667 0.3
Rate of return 1.7% 2.69% 3.65% 2.4% 2.62% 3.81% 5.08% 5.71%
EPS 2 0.37 0.3 0.48 0.1 0.42 0.4274 0.4664 0.486
Distribution rate 54.1% 66.7% 62.5% 100% 23.8% 46.8% 57.2% 61.7%
Net sales 1 291.5 297.4 297.3 286.7 292.1 298.7 305.2 313.3
EBITDA 1 28.7 23.9 30.1 21.3 34.3 33.18 35.36 36.42
EBIT 1 15.8 14 20.2 7.6 20.3 20.52 22.27 22.87
Net income 1 13.5 11 17.4 3.7 15.1 14.86 16.11 16.7
Net Debt 1 -29.5 -10.4 -19.3 -13.5 -29.6 -33.09 -42.19 -50.13
Reference price 2 11.760 7.430 8.220 4.160 3.820 5.250 5.250 5.250
Nbr of stocks (in thousands) 35,993 35,915 35,909 35,917 35,919 32,920 - -
Announcement Date 09/03/22 08/03/23 05/03/24 12/03/25 09/03/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.54x6.12x15.85x1.52% 442B
52.63x18.66x37.44x-.--% 252B
21.17x0.86x15.49x2.14% 190B
29.96x9.53x23x0.41% 162B
43.73x12.89x29.14x-.--% 83.15B
33.83x6.56x18.74x1% 77.15B
45.69x2.42x15.79x1.58% 62.11B
28.22x6.38x21.29x1.46% 54.51B
60.69x7.81x34.55x-.--% 49.57B
Average 38.16x 7.91x 23.48x 0.9% 152.43B
Weighted average by Cap. 34.93x 8.43x 22.46x 1.02%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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