TECN Stock Analysis: Tecan | SW
Medical Instruments & Supplies | SW, Switzerland | Market Cap: 2.284m CHF | 12M Return: 9.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 8.20M
Warnings
No concerns identified
Tailwinds
Seasonality
Tecan Group AG (TECN) is a Swiss-based provider of laboratory instruments and automation solutions serving the biopharmaceutical, forensic, and clinical diagnostics markets across Europe, North America, Asia, and other international regions. The company operates through two segments: Life Sciences Business and Partnering Business, offering products such as liquid handling and automation systems, microplate readers and washers, software, consumables, sequencing reagents, immunoassays, and antibodies. Its end-to-end automation solution is marketed as Tecan Labwerx.
In addition to its core instrument portfolio, Tecan offers contract design and manufacturing services through its PARAMIT business, which provides outsourced engineering and production for medical devices and life sciences instruments. The company has also established a strategic collaboration with NVIDIA Corporation to co-develop an AI-enabled platform aimed at improving data-driven laboratory workflows, research discoveries, and overall lab productivity. Tecan was founded in 1980 and is headquartered in Männedorf, Switzerland.
As a mid-cap company in the Health Care Equipment sub-industry, Tecan operates in the life sciences tools and laboratory automation sector, which supplies recurring revenue streams through consumables, reagents, and service contracts alongside its instrument sales. The Partnering Business model, which includes OEM and contract manufacturing arrangements, is a common approach in the broader medtech outsourcing industry, allowing instrument makers to scale production without expanding internal manufacturing capacity.
- Life Sciences segment growth driven by lab automation demand
- Biopharma end-market weakness pressures instrument order growth
- NVIDIA AI platform partnership opens new lab automation revenue stream
- Partnering Business OEM contract manufacturing expands with PARAMIT
| Net Income: -110.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.31 > 1.0 |
| NWC/Revenue: 47.93% < 20% (prev 34.79%; Δ 13.14% < -1%) |
| CFO/TA 0.08 > 3% & CFO 139.5m > Net Income -110.7m |
| Net Debt (110.0m) to EBITDA (99.6m): 1.10 < 3 |
| Current Ratio: 2.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (12.7m) vs 12m ago -1.36% < -2% |
| Gross Margin: 35.22% > 18% (prev 34.32%; Δ 0.91% > 0.5%) |
| Asset Turnover: 46.21% > 50% (prev 44.04%; Δ 2.17% > 0%) |
| Interest Coverage Ratio: 13.48 > 6 (EBIT TTM 44.8m / Interest Expense TTM 3.32m) |
| A: 0.25 (Total Current Assets 711.7m - Total Current Liabilities 288.8m) / Total Assets 1.70b |
| B: 0.58 (Retained Earnings 978.9m / Total Assets 1.70b) |
| C: 0.02 (EBIT TTM 44.8m / Avg Total Assets 1.91b) |
| D: 2.11 (Book Value of Equity 1.15b / Total Liabilities 546.6m) |
| Altman-Z'' = 5.88 = AAA |
| DSRI: 0.90 (Receivables 165.6m/195.8m, Revenue 882.5m/934.3m) |
| GMI: 0.97 (GM 34.32% / 35.22%) |
| AQI: 0.95 (AQ_t 0.50 / AQ_t-1 0.53) |
| SGI: 0.94 (Revenue 882.5m / 934.3m) |
| TATA: -0.15 (NI -110.7m - CFO 139.5m) / TA 1.70b) |
| Beneish M = -3.22 (Cap -4..+1) = AA |
As of July 28, 2026, the stock is trading at CHF 179.20 with a total of 20,709 shares traded. Over the past week, the price has changed by +0.28%, over one month by +9.94%, over three months by +50.46% and over the past year by +9.06%.
Current recommended Stop Loss: 172.60 (which is 3.7% or 1.2 ATR below the current price).
Tecan has no consensus analysts rating.
P/E Forward = 25.9067
P/S = 2.5886
P/B = 1.9937
P/EG = 1.7068
Revenue TTM = 882.5m CHF
EBIT TTM = 44.8m CHF
EBITDA TTM = 99.6m CHF
Long Term Debt = 150.3m CHF (from longTermDebt, last quarter)
Short Term Debt = 21.1m CHF (from shortTermDebt, last quarter)
Debt = 286.4m CHF (from shortLongTermDebtTotal, last quarter) + Leases 68.0m
Net Debt = 110.0m CHF (calculated: Debt 286.4m - CCE 176.4m)
Enterprise Value = 2.39b CHF (2.28b + Debt 286.4m - CCE 176.4m)
Interest Coverage Ratio = 13.48 (Ebit TTM 44.8m / Interest Expense TTM 3.32m)
EV/FCF = 23.32x (Enterprise Value 2.39b / FCF TTM 102.7m)
FCF Yield = 4.29% (FCF TTM 102.7m / Enterprise Value 2.39b)
FCF Margin = 11.63% (FCF TTM 102.7m / Revenue TTM 882.5m)
Net Margin = -12.54% (Net Income TTM -110.7m / Revenue TTM 882.5m)
Gross Margin = 35.22% ((Revenue TTM 882.5m - Cost of Revenue TTM 571.6m) / Revenue TTM)
Gross Margin QoQ = 34.21% (prev 36.24%)
Tobins Q-Ratio = 1.41 (Enterprise Value 2.39b / Total Assets 1.70b)
Interest Expense / Debt = 1.16% (Interest Expense 3.32m / Debt 286.4m)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 33.6m (EBIT 44.8m * (1 - 25.00%))
Current Ratio = 2.46 (Total Current Assets 711.7m / Total Current Liabilities 288.8m)
Debt / Equity = 0.25 (Debt 286.4m / totalStockholderEquity, last quarter 1.15b)
Debt / EBITDA = 1.10 (Net Debt 110.0m / EBITDA 99.6m)
Debt / FCF = 1.07 (Net Debt 110.0m / FCF TTM 102.7m)
Total Stockholder Equity = 1.32b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.79% (Net Income -110.7m / Total Assets 1.70b)
RoE = -8.39% (Net Income TTM -110.7m / Total Stockholder Equity 1.32b)
RoCE = 3.05% (EBIT 44.8m / Capital Employed (Equity 1.32b + L.T.Debt 150.3m))
RoIC = 2.42% (NOPAT 33.6m / Invested Capital 1.39b)
WACC = 7.70% (E(2.28b)/V(2.57b) * Re(8.56%) + D(286.4m)/V(2.57b) * Rd(1.16%) * (1-Tc(0.25)))
Discount Rate = 8.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 31.25 | Cagr: 2.24%
[DCF] Terminal Value 73.10% ; FCFF base≈115.6m ; Y1≈101.3m ; Y5≈81.9m
[DCF] Fair Price = 95.15 (EV 1.31b - Net Debt 110.0m = Equity 1.20b / Shares 12.7m; 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: -98.50 | Revenue CAGR: -9.19% | SUE: 0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=6.26 | Chg30d=+1.84% | Revisions=-25% | GrowthEPS=-8.8% | GrowthRev=+0.1%
EPS next Year (2027-12-31): EPS=7.70 | Chg30d=+1.77% | Revisions=+25% | GrowthEPS=+23.0% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: +0% (up=1, down=1)