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Forbo Holding AG
(FORN)
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Rating:71Outperform
Price Target:
CHF1,061.00
▲(11.68% Upside)
Action:Upgraded
Date:07/29/26
The score is driven primarily by strong technical trend signals (price well above major moving averages) and a resilient, low-leverage balance sheet. These positives are partially offset by multi-year revenue decline, compressed margins, and weaker recent free-cash-flow conversion, with valuation appearing neutral (mid P/E and moderate dividend yield).
Positive Factors
Very low leverage
Conservative leverage and a stable asset base strengthen Forbo’s ability to withstand weaker demand, fund operations, and pursue opportunities without excessive refinancing or balance-sheet pressure.
Negative Factors
Multi-year revenue decline
Sustained revenue contraction indicates weaker underlying demand or market share performance and limits operating leverage. Without a recovery in sales, earnings improvement and the ability to absorb fixed costs remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Conservative leverage and a stable asset base strengthen Forbo’s ability to withstand weaker demand, fund operations, and pursue opportunities without excessive refinancing or balance-sheet pressure.
Read all positive factors
Forbo Holding AG (FORN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF1.38B
Dividend Yield2.53%
Average Volume (3M)3.12K
Price to Earnings (P/E)21.2
Beta (1Y)1.21
Revenue Growth-1.31%
EPS Growth-17.69%
CountryCH
Employees5,195
SectorIndustrials
Sector Strength72
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)46.74
Shares Outstanding1,485,000
10 Day Avg. Volume2,235
30 Day Avg. Volume3,124
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)1.90
Price to Sales (P/S)1.14
P/FCF Ratio39.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)52.74
Revenue Forecast (FY)CHF1.09B
Forbo Holding AG Business Overview & Revenue Model
Company Description
Forbo Holding AG, a Swiss company with international reach, specializes in the production and sale of diverse floor coverings, a variety of building and construction adhesives, and advanced power transmission and conveyor belt solutions. The compa...
How the Company Makes Money
Forbo primarily makes money by selling manufactured products and related services across its two operating segments. (1) Flooring Systems generates revenue mainly from the sale of floor covering products and solutions to customers in building and ...
Forbo Holding AG Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.08B | 1.09B | 1.12B | 1.18B | 1.29B | 1.25B |
| Gross Profit | 361.10M | 358.60M | 384.90M | 401.70M | 440.80M | 451.00M |
| EBITDA | 135.80M | 140.10M | 169.10M | 185.70M | 194.30M | 238.70M |
| Net Income | 66.30M | 68.90M | 95.10M | 102.30M | 101.40M | 141.20M |
Balance Sheet | ||||||
| Total Assets | 982.30M | 980.90M | 975.80M | 901.40M | 972.50M | 994.10M |
| Cash, Cash Equivalents and Short-Term Investments | 53.90M | 90.70M | 109.10M | 69.10M | 46.70M | 93.30M |
| Total Debt | 43.90M | 47.70M | 47.20M | 40.00M | 65.60M | 82.40M |
| Total Liabilities | 321.30M | 331.30M | 349.80M | 347.70M | 422.40M | 472.30M |
| Stockholders Equity | 661.00M | 649.60M | 626.00M | 553.70M | 550.10M | 521.80M |
Cash Flow | ||||||
| Free Cash Flow | 58.80M | 31.30M | 135.60M | 114.70M | 50.50M | 128.10M |
| Operating Cash Flow | 103.70M | 76.20M | 135.60M | 160.00M | 81.40M | 166.90M |
| Investing Cash Flow | -44.70M | -44.50M | -43.80M | -44.10M | -30.90M | -38.80M |
| Financing Cash Flow | -48.00M | -49.60M | -51.10M | -87.90M | -93.90M | -290.20M |
Forbo Holding AG Technical Analysis
Positive
950.00
Price Trends
852.06
Positive
793.29
Positive
796.11
Positive
Market Momentum
29.99
Positive
69.62
Neutral
85.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:FORN, the sentiment is Positive. The current price of 950 is above the 20-day moving average (MA) of 945.85, above the 50-day MA of 852.06, and above the 200-day MA of 796.11, indicating a bullish trend. The MACD of 29.99 indicates Positive momentum. The RSI at 69.62 is Neutral, neither overbought nor oversold. The STOCH value of 85.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:FORN.
Forbo Holding AG Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | CHF10.33B | 50.30 | 32.95% | 1.19% | 19.76% | 20.18% | |
71 Outperform | CHF1.38B | 21.18 | 10.12% | 3.22% | -1.31% | -17.69% | |
71 Outperform | CHF27.46B | 27.06 | 26.55% | 2.38% | -3.06% | 4.54% | |
70 Outperform | CHF17.56B | 29.72 | ― | 2.51% | 3.09% | 6.69% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | CHF1.22B | 14.71 | 11.22% | 2.15% | -7.85% | -15.66% | |
49 Neutral | CHF1.32B | -9.63 | -15.26% | 2.77% | -39.02% | -40.84% |
* Industrials Sector Average
CH:FORN
Forbo Holding AG
990.00
219.32
28.46%
CH:SCHP
Schindler Holding AG
260.60
-34.75
-11.77%
CH:GEBN
Geberit AG
563.40
-20.56
-3.52%
CH:BEAN
BELIMO Holding AG
839.50
20.98
2.56%
CH:IMPN
Implenia AG
67.50
4.69
7.46%
CH:LAND
Landis+Gyr Group AG
45.70
-17.85
-28.09%
Forbo Holding AG Corporate Events
Forbo Returns to Local-Currency Growth as Turnaround Gains Traction
Jul 28, 2026
Forbo returned to growth in local currencies in the first half of 2026, with net sales of CHF 545.7 million up 4% in local terms but flat in Swiss francs due to currency headwinds, while operating profit declined slightly as higher procurement cos...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.