SOON Stock Analysis: Sonova H | SW
Medical Devices | SW, Switzerland | Market Cap: 14.245m CHF | 12M Return: 11.5% | CH0012549785 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 28.0M
Warnings
No concerns identified
Tailwinds
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.
Sonova Holding AG is a Swiss manufacturer of hearing care solutions, founded in 1947 and headquartered in Stäfa, Switzerland. The company operates through three segments: Hearing Instruments (Phonak, Unitron, Hansaton, and Sennheiser brands), Cochlear Implants (Advanced Bionics), and a Lifestyle-Aligned unit focused on AI- and digitally-integrated products. It distributes products both wholesale to independent audiologists, retail chains, and government customers and directly to end consumers through its own store and clinic network, which operates under brands such as AudioNova, Boots Hearingcare, Connect Hearing, Geers, and Triton Hearing.
The company runs a vertically integrated business model that pairs hearing instrument manufacturing with owned retail audiology clinics, giving it direct access to end consumers alongside its wholesale channels. Sonova serves the global hearing care market, which is structurally supported by aging demographics and rising rates of hearing loss, and competes in a sector dominated by a small group of large medical device manufacturers.
- US FDA OTC hearing aids disrupt traditional channel
- Audiological care services expansion lifts recurring revenue base
- Swiss franc strength pressures reported operating margins
| Net Income: 430.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -0.37 > 1.0 |
| NWC/Revenue: 24.82% < 20% (prev 14.43%; Δ 10.39% < -1%) |
| CFO/TA 0.12 > 3% & CFO 684.1m > Net Income 430.6m |
| Net Debt (1.23b) to EBITDA (841.5m): 1.46 < 3 |
| Current Ratio: 1.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (60.4m) vs 12m ago 1.02% < -2% |
| Gross Margin: 73.72% > 18% (prev 72.03%; Δ 1.69% > 0.5%) |
| Asset Turnover: 62.42% > 50% (prev 48.10%; Δ 14.33% > 0%) |
| Interest Coverage Ratio: 8.05 > 6 (EBIT TTM 704.8m / Interest Expense TTM 87.6m) |
| A: 0.16 (Total Current Assets 2.08b - Total Current Liabilities 1.19b) / Total Assets 5.63b |
| B: 0.63 (Retained Earnings 3.52b / Total Assets 5.63b) |
| C: 0.12 (EBIT TTM 704.8m / Avg Total Assets 5.78b) |
| D: 0.87 (Book Value of Equity 2.61b / Total Liabilities 2.99b) |
| Altman-Z'' = 4.82 = AA |
| DSRI: 0.77 (Receivables 665.1m/681.1m, Revenue 3.61b/2.85b) |
| GMI: 0.98 (GM 72.03% / 73.72%) |
| AQI: 0.92 (AQ_t 0.52 / AQ_t-1 0.57) |
| SGI: 1.27 (Revenue 3.61b / 2.85b) |
| TATA: -0.05 (NI 430.6m - CFO 684.1m) / TA 5.63b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of September 27, 2026, the stock is trading at CHF 241.00 with a total of 70,201 shares traded. Over the past week, the price has changed by +3.88%, over one month by -1.63%, over three months by +23.46% and over the past year by +11.52%.
Current recommended Stop Loss: 235.50 (which is 2.3% or 1.3 ATR below the current price).
Sonova H has no consensus analysts rating.
P/E Trailing = 26.6444
P/E Forward = 21.097
P/S = 3.9505
P/B = 5.4998
P/EG = 1.3519
Revenue TTM = 3.61b CHF
EBIT TTM = 704.8m CHF
EBITDA TTM = 841.5m CHF
Long Term Debt = 1.35b CHF (from longTermDebt, last quarter)
Short Term Debt = 186.3m CHF (from shortTermDebt, last quarter)
Debt = 1.95b CHF (from shortLongTermDebtTotal, last quarter) + Leases 240.9m
Net Debt = 1.23b CHF (calculated: Debt 1.95b - CCE 722.1m)
Enterprise Value = 15.5b CHF (14.2b + Debt 1.95b - CCE 722.1m)
Interest Coverage Ratio = 8.05 (Ebit TTM 704.8m / Interest Expense TTM 87.6m)
EV/FCF = 25.68x (Enterprise Value 15.5b / FCF TTM 602.7m)
FCF Yield = 3.89% (FCF TTM 602.7m / Enterprise Value 15.5b)
FCF Margin = 16.71% (FCF TTM 602.7m / Revenue TTM 3.61b)
Net Margin = 11.94% (Net Income TTM 430.6m / Revenue TTM 3.61b)
Gross Margin = 73.72% ((Revenue TTM 3.61b - Cost of Revenue TTM 947.6m) / Revenue TTM)
Gross Margin QoQ = 77.20% (prev 70.29%)
Tobins Q-Ratio = 2.75 (Enterprise Value 15.5b / Total Assets 5.63b)
Interest Expense / Debt = 4.49% (Interest Expense 87.6m / Debt 1.95b)
Taxrate = 14.92% (95.7m / 641.6m)
NOPAT = 599.7m (EBIT 704.8m * (1 - 14.92%))
Current Ratio = 1.75 (Total Current Assets 2.08b / Total Current Liabilities 1.19b)
Debt / Equity = 0.75 (Debt 1.95b / totalStockholderEquity, last quarter 2.61b)
Debt / EBITDA = 1.46 (Net Debt 1.23b / EBITDA 841.5m)
Debt / FCF = 2.04 (Net Debt 1.23b / FCF TTM 602.7m)
Total Stockholder Equity = 2.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.45% (Net Income 430.6m / Total Assets 5.63b)
RoE = 17.23% (Net Income TTM 430.6m / Total Stockholder Equity 2.50b)
RoCE = 18.30% (EBIT 704.8m / Capital Employed (Equity 2.50b + L.T.Debt 1.35b))
RoIC = 13.49% (NOPAT 599.7m / Invested Capital 4.45b)
WACC = 7.66% (E(14.2b)/V(16.2b) * Re(8.19%) + D(1.95b)/V(16.2b) * Rd(4.49%) * (1-Tc(0.15)))
Discount Rate = 8.19% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -69.52 | Cagr: -1.67%
[DCF] Terminal Value 74.26% ; FCFF base≈624.1m ; Y1≈583.8m ; Y5≈536.9m
[DCF] Fair Price = 122.1 (EV 8.48b - Net Debt 1.23b = Equity 7.25b / Shares 59.4m; r=8.35% [WACC [floored]]; 5y FCF grow -8.14% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -43.81 | Revenue CAGR: -5.87% | SUE: -0.13 | # QB: 0
EPS current Year (2026-03-31): EPS=9.52 | Chg30d=-1.83% | Revisions=-29% | GrowthEPS=-12.0% | GrowthRev=-3.4%
EPS next Year (2027-03-31): EPS=10.75 | Chg30d=+0.99% | Revisions=+50% | GrowthEPS=+0.9% | GrowthRev=+6.6%
[Analyst] Revisions Ratio: +10% (up=4, down=3)