Earnings Update: Komax Holding AG (VTX:KOMN) Just Reported Its Interim Results And Analysts Are Updating Their Forecasts

There's been a notable change in appetite for Komax Holding AG (VTX:KOMN) shares in the week since its half-yearly report, with the stock down 12% to CHF93.30. Revenues were CHF280m, with Komax Holding reporting some 5.0% below analyst expectations. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

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Following the latest results, Komax Holding's four analysts are now forecasting revenues of CHF604.0m in 2025. This would be a credible 4.1% improvement in revenue compared to the last 12 months. Earnings are expected to improve, with Komax Holding forecast to report a statutory profit of CHF0.14 per share. Yet prior to the latest earnings, the analysts had been anticipated revenues of CHF627.6m and earnings per share (EPS) of CHF1.60 in 2025. From this we can that sentiment has definitely become more bearish after the latest results, leading to lower revenue forecasts and a pretty serious reduction to earnings per share estimates.

See our latest analysis for Komax Holding

The analysts made no major changes to their price target of CHF150, suggesting the downgrades are not expected to have a long-term impact on Komax Holding's valuation. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Komax Holding at CHF180 per share, while the most bearish prices it at CHF120. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Komax Holding shareholders.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that Komax Holding's revenue growth is expected to slow, with the forecast 8.4% annualised growth rate until the end of 2025 being well below the historical 15% p.a. growth over the last five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 5.2% per year. So it's pretty clear that, while Komax Holding's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Regrettably, they also downgraded their revenue estimates, but the latest forecasts still imply the business will grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Komax Holding going out to 2027, and you can see them free on our platform here.

You can also see whether Komax Holding is carrying too much debt, and whether its balance sheet is healthy, for free on our platform here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.