VACN Stock Analysis: VAT | SW
Specialty Industrial Machinery | SW, Switzerland | Market Cap: 19.916m CHF | 12M Return: 114.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 48.3M
Warnings
Tailwinds
Seasonality 10.2 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.
VAT Group AG, founded in 1965 and headquartered in Solothurn, Switzerland, develops, manufactures, and sells vacuum valves, multi-valve modules, motion components, and edge-welded metal bellows. The company operates through two segments: Valves, which supplies vacuum valves to the semiconductor, display, photovoltaic, and vacuum coating industries as well as industrial and research customers, and Global Service, which provides spare parts, repairs, upgrades, and support. Its product range spans isolation, gate, angle, inline, check, cylinder, all-metal, pendulum, butterfly, control, transfer, and pressure-relief valves, along with flange connections, bellows, and modules.
Vacuum valves are mission-critical components in semiconductor wafer fabrication equipment, where contamination control directly affects chip yield. The industry is characterized by high entry barriers due to precision engineering requirements and long qualification cycles with equipment manufacturers, supporting a concentrated supplier landscape in which VAT holds a leading position.
The Global Service segment provides recurring aftermarket revenue tied to the installed base of valves, which typically require periodic maintenance and replacement. VAT operates globally, with direct presence across Switzerland, the rest of Europe, the United States, Japan, Korea, Singapore, China, and additional Asian markets, reflecting the geographic concentration of semiconductor and display manufacturing in East Asia.
- Semiconductor wafer fab equipment spending drives valve demand
- Global Service segment expands as installed base grows
- AI and advanced node capacity buildout boosts order pipeline
| Net Income: 207.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 3.94 > 1.0 |
| NWC/Revenue: 11.07% < 20% (prev 31.49%; Δ -20.42% < -1%) |
| CFO/TA 0.23 > 3% & CFO 294.9m > Net Income 207.5m |
| Net Debt (107.3m) to EBITDA (428.6m): 0.25 < 3 |
| Current Ratio: 1.31 > 1.5 & < 3 |
| Outstanding Shares: last quarter (30.0m) vs 12m ago -0.22% < -2% |
| Gross Margin: 34.70% > 18% (prev 52.15%; Δ -17.45% > 0.5%) |
| Asset Turnover: 80.01% > 50% (prev 81.14%; Δ -1.13% > 0%) |
| Interest Coverage Ratio: 81.43 > 6 (EBIT TTM 379.9m / Interest Expense TTM 4.67m) |
| A: 0.09 (Total Current Assets 475.7m - Total Current Liabilities 362.0m) / Total Assets 1.27b |
| B: 0.64 (Retained Earnings 813.8m / Total Assets 1.27b) |
| C: 0.30 (EBIT TTM 379.9m / Avg Total Assets 1.28b) |
| D: 1.65 (Book Value of Equity 793.2m / Total Liabilities 480.2m) |
| Altman-Z'' = 6.39 = AAA |
| DSRI: 1.00 (Receivables 128.6m/131.5m, Revenue 1.03b/1.05b) |
| GMI: 1.50 (GM 52.15% / 34.70%) |
| AQI: 1.01 (AQ_t 0.36 / AQ_t-1 0.36) |
| SGI: 0.98 (Revenue 1.03b / 1.05b) |
| TATA: -0.07 (NI 207.5m - CFO 294.9m) / TA 1.27b) |
| Beneish M = -2.59 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at CHF 622.40 with a total of 74,743 shares traded. Over the past week, the price has changed by -6.63%, over one month by -9.09%, over three months by +10.96% and over the past year by +114.58%.
Current recommended Stop Loss: 559.20 (which is 10.2% or 2.3 ATR below the current price).
VAT has no consensus analysts rating.
P/E Trailing = 95.9019
P/E Forward = 64.5161
P/S = 19.384
P/B = 28.14
P/EG = 3.3236
Revenue TTM = 1.03b CHF
EBIT TTM = 379.9m CHF
EBITDA TTM = 428.6m CHF
Long Term Debt = 44.7m CHF (from longTermDebt, last quarter)
Short Term Debt = 203.6m CHF (from shortTermDebt, last quarter)
Debt = 248.3m CHF (from shortLongTermDebtTotal, last quarter)
Net Debt = 107.3m CHF (calculated: Debt 248.3m - CCE 140.9m)
Enterprise Value = 20.0b CHF (19.9b + Debt 248.3m - CCE 140.9m)
Interest Coverage Ratio = 81.43 (Ebit TTM 379.9m / Interest Expense TTM 4.67m)
EV/FCF = 83.88x (Enterprise Value 20.0b / FCF TTM 238.7m)
FCF Yield = 1.19% (FCF TTM 238.7m / Enterprise Value 20.0b)
FCF Margin = 23.23% (FCF TTM 238.7m / Revenue TTM 1.03b)
Net Margin = 20.20% (Net Income TTM 207.5m / Revenue TTM 1.03b)
Gross Margin = 34.70% ((Revenue TTM 1.03b - Cost of Revenue TTM 671.0m) / Revenue TTM)
Gross Margin QoQ = 66.61% (prev 3.00%)
Tobins Q-Ratio = 15.72 (Enterprise Value 20.0b / Total Assets 1.27b)
Interest Expense / Debt = 1.88% (Interest Expense 4.67m / Debt 248.3m)
Taxrate = 16.72% (43.0m / 257.3m)
NOPAT = 316.3m (EBIT 379.9m * (1 - 16.72%))
Current Ratio = 1.31 (Total Current Assets 475.7m / Total Current Liabilities 362.0m)
Debt / Equity = 0.31 (Debt 248.3m / totalStockholderEquity, last quarter 793.2m)
Debt / EBITDA = 0.25 (Net Debt 107.3m / EBITDA 428.6m)
Debt / FCF = 0.45 (Net Debt 107.3m / FCF TTM 238.7m)
Total Stockholder Equity = 725.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 16.16% (Net Income 207.5m / Total Assets 1.27b)
RoE = 28.62% (Net Income TTM 207.5m / Total Stockholder Equity 725.0m)
RoCE = 49.35% (EBIT 379.9m / Capital Employed (Equity 725.0m + L.T.Debt 44.7m))
RoIC = 29.74% (NOPAT 316.3m / Invested Capital 1.06b)
WACC = 10.21% (E(19.9b)/V(20.2b) * Re(10.32%) + D(248.3m)/V(20.2b) * Rd(1.88%) * (1-Tc(0.17)))
Discount Rate = 10.32% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -69.04 | Cagr: -0.11%
[DCF] Terminal Value 72.19% ; FCFF base≈219.9m ; Y1≈252.1m ; Y5≈371.1m
[DCF] Fair Price = 136.6 (EV 4.20b - Net Debt 107.3m = Equity 4.09b / Shares 30.0m; r=10.21% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 67.58 | EPS CAGR: 48.63% | SUE: 0.0 | # QB: 0
Revenue Correlation: 88.30 | Revenue CAGR: 8.61% | SUE: 1.85 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=10.39 | Chg30d=+1.44% | Revisions=+36% | GrowthEPS=+45.5% | GrowthRev=+21.5%
EPS next Year (2027-12-31): EPS=15.13 | Chg30d=+4.94% | Revisions=+75% | GrowthEPS=+45.6% | GrowthRev=+31.3%
[Analyst] Revisions Ratio: +65% (up=15, down=2)