Added to YB: 2025-05-26
Pitch date: 2025-05-22
FORN.SW [bullish]
Forbo Holding AG
+2.22%
current return
Author Info
DB_Silver_Fox is a CFO and value investor interested in: European & US hidden champions, simple and effective business models, and US Banks. Sign up for the newsletter.
Company Info
Forbo Holding AG produces and sells floor coverings, building and construction adhesives, and power transmission and conveyor belt solutions in Europe, the Americas, Asia Pacific, and Africa.
Market Cap
CHF 1.1B
Pitch Price
CHF 810.00
Price Target
1.2K (+39%)
Dividend
3.08%
EV/EBITDA
6.50
P/E
12.03
EV/Sales
0.96
Sector
Building Products
Category
value
FORBO Holding AG ($FORN.SW) - Boring Swiss business managed with Calvinist stewardship and conservatism
FORN.SW: Swiss mfg leader w/ 70% global linoleum market share. 11% FCF yield on 1B CHF EV, negative net debt. 2024 flat vs 2023: 120M CHF op profit, 166M EBITDA. Post-2009 strategy shift: lower sales (1.2B vs 1.7B) but higher margins (10-13% vs 4-7%). IV=1153 CHF vs 811 current. 30% upside.
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