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Added to YB: 2026-09-02

Pitch date: 2026-08-28

VZUG.SW [neutral]

V-ZUG Holding AG

Author Info

Dismissed & Asset Backed has their heads stuck in 10Ks and 10Qs of 'old world' businesses trading below tangible book value. Sign up for the newsletter.

Company Info

V-ZUG Holding AG, together with its subsidiaries, engages in the development, manufacture, sale, and services of kitchen and laundry appliances for private households in Switzerland, rest of Europe, North America, the Asia Pacific, and internationally.

Market Cap

CHF 269.3M

Pitch Price

CHF 42.00

Price Target

70.56

Dividend

2.14%

EV/EBITDA

4.56

P/E

22.24

EV/Sales

0.39

Sector

Household Durables

Category

turnaround

Show full summary:
V-ZUG Holding (VZUG) - When Premium Goes Deep Value

VZUG.SW (monitor): V-ZUG trades at 0.56x tangible book with CHF22.4M of net cash, but trailing ROCE is only 3.4% after heavy investment and weak demand. First-half 2026 provided initial turnaround evidence as sales rose 4.9% and EBIT margin improved from 1.1% to 2.8%. The key question is whether higher Swiss utilization and cost savings can sustain margin expansion while international own-brand sales remain weak and redevelopment consumes cash.

Read full article (8 min)