Forbo Holding AG

SWX:FORN Stock Report

Market Cap: CHF 1.0b

Forbo Holding Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • 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 FORN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FORN (CHF745) is trading below our estimate of fair value (CHF2065.73)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FORN. This is calculated by dividing FORN's market cap by their current earnings.
What is FORN's PE Ratio?
PE Ratio11.2x
EarningsCHF 93.30m
Market CapCHF 1.05b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FORN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.5x
SWTQ Schweiter Technologies
16x23.2%CHF 577.7m
ZEHN Zehnder Group
22.6x43.5%CHF 482.8m
DOKA dormakaba Holding
64.4x34.6%CHF 2.7b
ARBN Arbonia
47.1x-5.8%CHF 769.5m
FORN Forbo Holding
11.2x12.8%CHF 1.0b

Price-To-Earnings vs Peers: FORN is good value based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (37.5x).

Price to Earnings Ratio vs Industry

How does FORN's PE Ratio compare vs other companies in the European Building Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
FORN 11.2xIndustry Avg. 20.1xNo. of Companies12PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FORN is good value based on its Price-To-Earnings Ratio (11.2x) compared to the European Building industry average (20.1x).

Price to Earnings Ratio vs Fair Ratio

What is FORN'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.

FORN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.2x
Fair PE Ratio19.4x

Price-To-Earnings vs Fair Ratio: FORN is good value based on its Price-To-Earnings Ratio (11.2x) compared to the estimated Fair Price-To-Earnings Ratio (19.4x).

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 FORN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 745.00
CHF 1,164.00
+56.2%
5.7%CHF 1,252.00CHF 1,090.00n/a3
Dec ’25CHF 780.00
CHF 1,126.75
+44.5%
7.7%CHF 1,252.00CHF 1,015.00n/a4
Nov ’25CHF 851.00
CHF 1,126.75
+32.4%
7.7%CHF 1,252.00CHF 1,015.00n/a4
Oct ’25CHF 875.00
CHF 1,126.75
+28.8%
7.7%CHF 1,252.00CHF 1,015.00n/a4
Sep ’25CHF 880.00
CHF 1,126.75
+28.0%
7.7%CHF 1,252.00CHF 1,015.00n/a4
Aug ’25CHF 945.00
CHF 1,126.75
+19.2%
7.7%CHF 1,252.00CHF 1,015.00n/a4
Jul ’25CHF 1,050.00
CHF 1,154.25
+9.9%
5.2%CHF 1,252.00CHF 1,090.00n/a4
Jun ’25CHF 1,100.00
CHF 1,154.25
+4.9%
5.2%CHF 1,252.00CHF 1,090.00n/a4
May ’25CHF 1,064.00
CHF 1,154.25
+8.5%
5.2%CHF 1,252.00CHF 1,090.00n/a4
Apr ’25CHF 1,152.00
CHF 1,154.25
+0.2%
5.2%CHF 1,252.00CHF 1,090.00n/a4
Mar ’25CHF 1,036.00
CHF 1,104.25
+6.6%
8.0%CHF 1,252.00CHF 1,025.00n/a4
Feb ’25CHF 998.00
CHF 1,104.25
+10.6%
8.0%CHF 1,252.00CHF 1,025.00n/a4
Jan ’25CHF 1,054.00
CHF 1,104.25
+4.8%
8.0%CHF 1,252.00CHF 1,025.00n/a4
Dec ’24CHF 982.00
CHF 1,104.25
+12.4%
8.0%CHF 1,252.00CHF 1,025.00CHF 780.004
Nov ’24CHF 991.00
CHF 1,334.75
+34.7%
13.8%CHF 1,500.00CHF 1,025.00CHF 851.004
Oct ’24CHF 1,118.00
CHF 1,412.25
+26.3%
4.5%CHF 1,500.00CHF 1,335.00CHF 875.004
Sep ’24CHF 1,182.00
CHF 1,409.80
+19.3%
4.1%CHF 1,500.00CHF 1,335.00CHF 880.005
Aug ’24CHF 1,256.00
CHF 1,455.80
+15.9%
7.5%CHF 1,650.00CHF 1,335.00CHF 945.005
Jul ’24CHF 1,284.00
CHF 1,370.00
+6.7%
4.7%CHF 1,480.00CHF 1,315.00CHF 1,050.004
Jun ’24CHF 1,320.00
CHF 1,370.00
+3.8%
4.7%CHF 1,480.00CHF 1,315.00CHF 1,100.004
May ’24CHF 1,314.00
CHF 1,370.00
+4.3%
4.7%CHF 1,480.00CHF 1,315.00CHF 1,064.004
Apr ’24CHF 1,322.00
CHF 1,370.00
+3.6%
4.2%CHF 1,480.00CHF 1,315.00CHF 1,152.005
Mar ’24CHF 1,220.00
CHF 1,300.00
+6.6%
3.2%CHF 1,350.00CHF 1,235.00CHF 1,036.005
Feb ’24CHF 1,214.00
CHF 1,300.00
+7.1%
3.2%CHF 1,350.00CHF 1,235.00CHF 998.005
Jan ’24CHF 1,088.00
CHF 1,353.00
+24.4%
11.5%CHF 1,650.00CHF 1,200.00CHF 1,054.005
Dec ’23CHF 1,120.00
CHF 1,402.80
+25.2%
12.4%CHF 1,650.00CHF 1,200.00CHF 982.005

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 03:07
End of Day Share Price 2024/12/23 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Forbo Holding AG is covered by 13 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Zana MamelliBaader Helvea Equity Research
Volker BosseBaader Helvea Equity Research
Michael RoostBank am Bellevue