Holcim AG

SWX:HOLN Stock Report

Market Cap: CHF 49.0b

Holcim Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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.

Discounted Cash Flow
Simply Wall St
CHF 211.68
Fair Value
58.8% undervalued intrinsic discount
21
Number of Analysts

Below Fair Value: HOLN (CHF87.22) is trading below our estimate of fair value (CHF211.68)

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 Ratio16.3x
EarningsCHF 3.01b
Market CapCHF 49.00b

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 Average28.8x
GIVN Givaudan
35.1x6.2%CHF 36.3b
SIKA Sika
28.9x7.9%CHF 36.0b
EMSN EMS-CHEMIE HOLDING
32x7.1%CHF 14.8b
CRH CRH
19.2x9.1%US$66.2b
HOLN Holcim
16.3x7.3%CHF 49.0b

Price-To-Earnings vs Peers: HOLN is good value based on its Price-To-Earnings Ratio (16.3x) compared to the peer average (28.8x).

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 16.3xIndustry Avg. 13.0xNo. of Companies9PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HOLN is expensive based on its Price-To-Earnings Ratio (16.3x) compared to the European Basic Materials industry average (13.4x).

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 Ratio16.3x
Fair PE Ratio25.6x

Price-To-Earnings vs Fair Ratio: HOLN is good value based on its Price-To-Earnings Ratio (16.3x) compared to the estimated Fair Price-To-Earnings Ratio (25.6x).

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 87.22
CHF 93.30
+7.0%
13.2%CHF 111.00CHF 62.00n/a21
Jan ’26CHF 87.36
CHF 92.82
+6.3%
13.4%CHF 111.00CHF 62.00n/a21
Dec ’25CHF 89.74
CHF 91.56
+2.0%
13.2%CHF 111.00CHF 62.00n/a21
Nov ’25CHF 86.46
CHF 87.12
+0.8%
9.7%CHF 100.00CHF 62.00n/a21
Oct ’25CHF 82.52
CHF 86.11
+4.3%
10.2%CHF 100.00CHF 61.00n/a20
Sep ’25CHF 81.72
CHF 85.43
+4.5%
10.5%CHF 96.00CHF 61.00n/a20
Aug ’25CHF 82.24
CHF 84.93
+3.3%
10.5%CHF 96.00CHF 61.00n/a20
Jul ’25CHF 79.90
CHF 83.39
+4.4%
11.6%CHF 97.50CHF 61.00n/a19
Jun ’25CHF 78.78
CHF 82.96
+5.3%
12.0%CHF 97.50CHF 61.00n/a19
May ’25CHF 77.18
CHF 80.96
+4.9%
12.9%CHF 97.50CHF 61.00n/a18
Apr ’25CHF 81.66
CHF 78.57
-3.8%
12.3%CHF 95.00CHF 61.00n/a18
Mar ’25CHF 73.50
CHF 73.33
-0.2%
11.7%CHF 90.50CHF 58.00n/a19
Feb ’25CHF 65.12
CHF 69.62
+6.9%
9.8%CHF 84.50CHF 58.00n/a19
Jan ’25CHF 66.02
CHF 66.79
+1.2%
10.6%CHF 80.00CHF 54.00CHF 87.3621
Dec ’24CHF 65.06
CHF 64.56
-0.8%
8.7%CHF 77.00CHF 54.00CHF 89.7420
Nov ’24CHF 57.30
CHF 64.56
+12.7%
8.7%CHF 77.00CHF 54.00CHF 86.4620
Oct ’24CHF 58.78
CHF 65.03
+10.6%
10.6%CHF 76.00CHF 48.00CHF 82.5220
Sep ’24CHF 58.16
CHF 64.67
+11.2%
10.8%CHF 76.00CHF 48.00CHF 81.7221
Aug ’24CHF 60.60
CHF 64.52
+6.5%
10.9%CHF 76.00CHF 48.00CHF 82.2421
Jul ’24CHF 60.20
CHF 64.10
+6.5%
12.6%CHF 78.50CHF 49.00CHF 79.9020
Jun ’24CHF 56.30
CHF 63.77
+13.3%
12.1%CHF 78.00CHF 49.00CHF 78.7819
May ’24CHF 58.82
CHF 63.77
+8.4%
12.1%CHF 78.00CHF 49.00CHF 77.1819
Apr ’24CHF 58.90
CHF 59.60
+1.2%
15.5%CHF 78.00CHF 39.00CHF 81.6619
Mar ’24CHF 57.92
CHF 55.52
-4.1%
15.5%CHF 71.00CHF 39.00CHF 73.5020
Feb ’24CHF 54.84
CHF 54.20
-1.2%
14.8%CHF 68.50CHF 39.00CHF 65.1220
Jan ’24CHF 47.88
CHF 50.97
+6.5%
13.9%CHF 64.00CHF 38.00CHF 66.0218
Analyst Price Target
Consensus Narrative from 21 Analysts
CHF 93.30
Fair Value
6.5% undervalued intrinsic discount
21
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/18 02:52
End of Day Share Price 2025/01/17 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

Holcim AG is covered by 56 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick AppenzellerBaader Helvea Equity Research
Gerhard SchwarzBaader Helvea Equity Research
Christian ArnoldBank Vontobel AG