Company Valuation: LEM Holding SA

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,552 2,240 1,943 807.7 328.5 748 - -
Change - -12.25% -13.25% -58.43% -59.33% 127.73% - -
Enterprise Value (EV) 1 2,606 2,285 2,015 931.9 418.5 804.2 775.8 770.5
Change - -12.3% -11.83% -53.75% -55.09% 92.16% -3.53% -0.68%
P/E 35.3x 29.8x 29.8x 96.5x 33.4x 25.7x 24.1x 20.5x
PBR 15.8x 12.9x 11x 6.44x 2.44x 4.64x 4.18x 3.75x
PEG - 7.3x -2.2x -1.1x 1.9x 0x 3.46x 1.2x
Capitalization / Revenue 6.84x 5.51x 4.79x 2.63x 1.14x 2.31x 2.24x 2.08x
EV / Revenue 6.98x 5.62x 4.97x 3.04x 1.45x 2.48x 2.32x 2.15x
EV / EBITDA 25.2x 21.4x 20.8x 24.6x 9.12x 12.8x 12x 11.4x
EV / EBIT 29.5x 24.8x 24.8x 34.8x 17.2x 18.8x 17.2x 15.7x
EV / FCF 88.6x 37.6x 42.2x 58.6x 12.9x 24.1x 17.3x 19x
FCF Yield 1.13% 2.66% 2.37% 1.71% 7.73% 4.15% 5.77% 5.26%
Dividend per Share 2 50 52 50 - - 11 15.1 17.51
Rate of return 2.23% 2.64% 2.93% - - 1.67% 2.3% 2.66%
EPS 2 63.48 66.07 57.26 7.35 8.63 25.53 27.31 32.06
Distribution rate 78.8% 78.7% 87.3% - - 43.1% 55.3% 54.6%
Net sales 1 373.4 406.4 405.8 306.9 287.7 323.8 333.9 359
EBITDA 1 103.5 106.8 96.81 37.91 45.87 62.66 64.88 67.86
EBIT 1 88.4 92.2 81.1 26.76 24.37 42.81 45.02 48.97
Net income 1 72.4 75.3 65.3 8.391 9.857 29.05 33.34 36.61
Net Debt 1 53.47 45.67 71.95 124.2 90.04 56.17 27.79 22.51
Reference price 2 2,240.00 1,966.00 1,706.00 709.00 288.50 657.00 657.00 657.00
Nbr of stocks (in thousands) 1,139 1,139 1,139 1,139 1,139 1,139 - -
Announcement Date 5/24/22 5/25/23 5/28/24 5/26/25 5/26/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.22x2.44x12.6x1.71% 882M
98.83x - - - 33.26B
51.05x17.65x42.53x1.02% 30.56B
39.42x - - - 23.37B
11.97x1.29x7.69x5.07% 3.05B
14.27x - - 5.3% 1.76B
9.32x0.76x4.15x5.18% 1.66B
74.27x - - 1.94% 1.57B
44.23x - - - 1.53B
Average 40.95x 5.53x 16.74x 3.37% 10.85B
Weighted average by Cap. 61.98x 15.12x 37.09x 1.75%

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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  3. LEHN Stock
  4. Valuation LEM Holding SA