PGHN Stock Analysis: Partners Holding | SW
Asset Management | SW, Switzerland | Market Cap: 15.975m CHF | 12M Return: -38.6% | CH0024608827 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 85.5M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Partners Group Holding AG is a Swiss private markets investment manager operating across private equity, private real estate, private infrastructure, and private debt. The firm invests via direct, secondary, primary, and fund-of-funds structures, spanning stages from seed and venture capital through buyouts, recapitalizations, and distressed situations.
Direct equity activity covers Technology, Health & Life, Goods & Products, and Services, while the real estate practice targets global property exposure with a focus on distressed assets in the United States, Europe, and Japan. Private debt offerings include senior and junior lending, mezzanine financing, broadly syndicated loans, and CLO debt and equity. Energy infrastructure investments span midstream assets, power generation, gas transportation, and renewable energy such as wind and solar. Geographic focus includes Europe, the Americas, and selected emerging markets in Asia, Africa, and South America.
As a listed alternative asset manager classified within the asset management and custody banks sub-industry, Partners Group offers public market investors exposure to private equity returns, with revenue typically generated through management fees on assets under management and performance-based carried interest. The firm seeks both majority and minority equity stakes as a value-add investor, with disclosed equity investment sizes ranging from approximately $0.7 million to $137 million in companies valued between roughly $137 million and $2.7 billion, and fund commitments generally sized between $21 million and $106 million per vehicle.
- Assets under management growth lifts fee-earning revenue
- Performance fee realization tied to private market exit cycle
- Private credit AUM expands at structurally higher margins
| Net Income: 1.18b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.25 > 0.02 and ΔFCF/TA 17.46 > 1.0 |
| NWC/Revenue: -3.34% < 20% (prev 54.63%; Δ -57.96% < -1%) |
| CFO/TA 0.25 > 3% & CFO 1.54b > Net Income 1.18b |
| Net Debt (2.75b) to EBITDA (1.56b): 1.76 < 3 |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (25.8m) vs 12m ago -1.77% < -2% |
| Gross Margin: 85.07% > 18% (prev 68.28%; Δ 16.79% > 0.5%) |
| Asset Turnover: 45.10% > 50% (prev 37.36%; Δ 7.74% > 0%) |
| Interest Coverage Ratio: 25.86 > 6 (EBIT TTM 1.49b / Interest Expense TTM 57.6m) |
| A: -0.02 (Total Current Assets 1.82b - Total Current Liabilities 1.91b) / Total Assets 6.19b |
| B: 0.50 (Retained Earnings 3.11b / Total Assets 6.19b) |
| C: 0.24 (EBIT TTM 1.49b / Avg Total Assets 6.19b) |
| D: 0.31 (Book Value of Equity 1.46b / Total Liabilities 4.73b) |
| Altman-Z'' = 3.48 = A |
| DSRI: 1.67 (Receivables 2.33b/1.16b, Revenue 2.79b/2.31b) |
| GMI: 0.80 (GM 68.28% / 85.07%) |
| AQI: 2.07 (AQ_t 0.63 / AQ_t-1 0.30) |
| SGI: 1.21 (Revenue 2.79b / 2.31b) |
| TATA: -0.06 (NI 1.18b - CFO 1.54b) / TA 6.19b) |
| Beneish M = -1.88 (Cap -4..+1) = B |
As of September 27, 2026, the stock is trading at CHF 601.00 with a total of 120,675 shares traded. Over the past week, the price has changed by -1.96%, over one month by -17.22%, over three months by -7.11% and over the past year by -38.57%.
Current recommended Stop Loss: 576.40 (which is 4.1% or 1.3 ATR below the current price).
Partners Holding has no consensus analysts rating.
P/E Trailing = 13.5019
P/E Forward = 12.7389
P/S = 6.4731
P/B = 10.9253
P/EG = 2.385
Revenue TTM = 2.79b CHF
EBIT TTM = 1.49b CHF
EBITDA TTM = 1.56b CHF
Long Term Debt = 829.6m CHF (from longTermDebt, last quarter)
Short Term Debt = 1.91b CHF (from shortTermDebt, last quarter)
Debt = 2.92b CHF (from shortLongTermDebtTotal, last quarter) + Leases 95.8m
Net Debt = 2.75b CHF (calculated: Debt 2.92b - CCE 173.1m)
Enterprise Value = 18.7b CHF (16.0b + Debt 2.92b - CCE 173.1m)
Interest Coverage Ratio = 25.86 (Ebit TTM 1.49b / Interest Expense TTM 57.6m)
EV/FCF = 12.24x (Enterprise Value 18.7b / FCF TTM 1.53b)
FCF Yield = 8.17% (FCF TTM 1.53b / Enterprise Value 18.7b)
FCF Margin = 54.77% (FCF TTM 1.53b / Revenue TTM 2.79b)
Net Margin = 42.42% (Net Income TTM 1.18b / Revenue TTM 2.79b)
Gross Margin = 85.07% ((Revenue TTM 2.79b - Cost of Revenue TTM 416.8m) / Revenue TTM)
Gross Margin QoQ = 82.16% (prev 87.52%)
Tobins Q-Ratio = 3.02 (Enterprise Value 18.7b / Total Assets 6.19b)
Interest Expense / Debt = 1.97% (Interest Expense 57.6m / Debt 2.92b)
Taxrate = 17.28% (247.5m / 1.43b)
NOPAT = 1.23b (EBIT 1.49b * (1 - 17.28%))
Current Ratio = 0.95 (Total Current Assets 1.82b / Total Current Liabilities 1.91b)
Debt / Equity = 1.99 (Debt 2.92b / totalStockholderEquity, last quarter 1.46b)
Debt / EBITDA = 1.76 (Net Debt 2.75b / EBITDA 1.56b)
Debt / FCF = 1.80 (Net Debt 2.75b / FCF TTM 1.53b)
Total Stockholder Equity = 1.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 19.13% (Net Income 1.18b / Total Assets 6.19b)
RoE = 61.19% (Net Income TTM 1.18b / Total Stockholder Equity 1.94b)
RoCE = 53.87% (EBIT 1.49b / Capital Employed (Equity 1.94b + L.T.Debt 829.6m))
RoIC = 20.36% (NOPAT 1.23b / Invested Capital 6.05b)
WACC = 7.98% (E(16.0b)/V(18.9b) * Re(9.14%) + D(2.92b)/V(18.9b) * Rd(1.97%) * (1-Tc(0.17)))
Discount Rate = 9.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -61.84 | Cagr: -0.93%
[DCF] Terminal Value 77.97% ; FCFF base≈1.10b ; Y1≈1.26b ; Y5≈1.85b
[DCF] Fair Price = 973.9 (EV 27.9b - Net Debt 2.75b = Equity 25.1b / Shares 25.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 96.12 | Revenue CAGR: 18.67% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=41.26 | Chg30d=-4.66% | Revisions=-67% | GrowthEPS=-14.8% | GrowthRev=-10.4%
EPS next Year (2027-12-31): EPS=46.49 | Chg30d=-1.81% | Revisions=-67% | GrowthEPS=+12.7% | GrowthRev=+11.0%
[Analyst] Revisions Ratio: -80% (up=0, down=12)