Holcim AG

SWX:HOLN Stock Report

Market Cap: CHF 38.4b

Holcim Valuation

Is HOLN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HOLN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CHF 139.18
Fair Value
49.6% undervalued intrinsic discount
20
Number of Analysts

Below Fair Value: HOLN (CHF70.18) is trading below our estimate of fair value (CHF139.18)

Significantly Below Fair Value: HOLN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HOLN?

Key metric: As HOLN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HOLN. This is calculated by dividing HOLN's market cap by their current earnings.
What is HOLN's PE Ratio?
PE Ratio12x
EarningsCHF 3.16b
Market CapCHF 38.36b

Price to Earnings Ratio vs Peers

How does HOLN's PE Ratio compare to its peers?

The above table shows the PE ratio for HOLN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.7x
AMRZ Amrize
23.1x15.15%CHF 22.0b
GIVN Givaudan
28x5.24%CHF 30.6b
SIKA Sika
20.5x8.37%CHF 24.4b
EMSN EMS-CHEMIE HOLDING
27.2x3.80%CHF 12.6b
HOLN Holcim
12x-2.81%CHF 37.8b

Price-To-Earnings vs Peers: HOLN is good value based on its Price-To-Earnings Ratio (12x) compared to the peer average (24.7x).

Price to Earnings Ratio vs Industry

How does HOLN's PE Ratio compare vs other companies in the European Basic Materials Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HOLN 12.0xIndustry Avg. 14.5xNo. of Companies8PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HOLN is good value based on its Price-To-Earnings Ratio (12x) compared to the European Basic Materials industry average (14.5x).

Price to Earnings Ratio vs Fair Ratio

What is HOLN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HOLN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12x
Fair PE Ratio16.7x

Price-To-Earnings vs Fair Ratio: HOLN is good value based on its Price-To-Earnings Ratio (12x) compared to the estimated Fair Price-To-Earnings Ratio (16.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HOLN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 70.18
CHF 72.05
+2.66%
10.11%CHF 83.50CHF 55.00n/a20
Oct ’26CHF 67.30
CHF 68.46
+1.73%
10.96%CHF 81.30CHF 51.00n/a18
Sep ’26CHF 66.64
CHF 66.02
-0.93%
9.79%CHF 79.30CHF 51.00n/a16
Aug ’26CHF 64.98
CHF 64.63
-0.55%
8.02%CHF 73.00CHF 51.00n/a16
Jul ’26CHF 58.40
CHF 58.60
+0.34%
12.55%CHF 67.00CHF 48.27n/a12
Jun ’26CHF 91.02
CHF 98.03
+7.70%
10.99%CHF 120.00CHF 84.00n/a21
May ’26CHF 91.60
CHF 97.14
+6.04%
10.65%CHF 120.00CHF 84.00n/a20
Apr ’26CHF 95.66
CHF 97.84
+2.28%
11.09%CHF 116.00CHF 75.00n/a20
Mar ’26CHF 98.54
CHF 95.11
-3.48%
11.41%CHF 111.00CHF 72.00n/a21
Feb ’26CHF 91.94
CHF 94.47
+2.75%
11.71%CHF 111.00CHF 72.00n/a21
Jan ’26CHF 87.36
CHF 92.82
+6.25%
13.43%CHF 111.00CHF 62.00n/a21
Dec ’25CHF 89.74
CHF 91.56
+2.03%
13.19%CHF 111.00CHF 62.00n/a21
Nov ’25CHF 86.46
CHF 87.12
+0.77%
9.70%CHF 100.00CHF 62.00CHF 71.3421
Oct ’25CHF 82.52
CHF 86.11
+4.34%
10.16%CHF 100.00CHF 61.00CHF 67.3020
Sep ’25CHF 81.72
CHF 85.43
+4.53%
10.45%CHF 96.00CHF 61.00CHF 66.6420
Aug ’25CHF 82.24
CHF 84.93
+3.26%
10.46%CHF 96.00CHF 61.00CHF 64.9820
Jul ’25CHF 79.90
CHF 83.39
+4.37%
11.57%CHF 97.50CHF 61.00CHF 58.4019
Jun ’25CHF 78.78
CHF 82.96
+5.31%
11.97%CHF 97.50CHF 61.00CHF 91.0219
May ’25CHF 77.18
CHF 80.96
+4.90%
12.93%CHF 97.50CHF 61.00CHF 91.6018
Apr ’25CHF 81.66
CHF 78.57
-3.78%
12.28%CHF 95.00CHF 61.00CHF 95.6618
Mar ’25CHF 73.50
CHF 73.33
-0.23%
11.71%CHF 90.50CHF 58.00CHF 98.5419
Feb ’25CHF 65.12
CHF 69.62
+6.91%
9.80%CHF 84.50CHF 58.00CHF 91.9419
Jan ’25CHF 66.02
CHF 66.79
+1.17%
10.56%CHF 80.00CHF 54.00CHF 87.3621
Dec ’24CHF 65.06
CHF 64.56
-0.78%
8.72%CHF 77.00CHF 54.00CHF 89.7420
Nov ’24CHF 57.30
CHF 64.56
+12.66%
8.72%CHF 77.00CHF 54.00CHF 86.4620
CHF 72.05
Fair Value
2.6% undervalued intrinsic discount
20
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/06 18:45
End of Day Share Price 2025/11/06 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Holcim AG is covered by 44 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gerhard SchwarzBaader Helvea Equity Research
Patrick AppenzellerBaader Helvea Equity Research
Nabil AhmedBarclays