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LEM Holding SA
(LEHN)
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Rating:66Neutral
Price Target:
CHF624.00
▲(20.23% Upside)
Action:Reiterated
Date:07/31/26
The score is primarily driven by strong technical momentum (price well above key moving averages), partly offset by mixed financial performance (recent revenue decline and significant margin compression, with higher leverage) and a demanding valuation (P/E 53.29 with no dividend yield data).
Positive Factors
Cash generation
Consistent positive operating and free cash flow — with a meaningful FCF improvement in 2026 — provides durable internal funding to support R&D, capex and working capital needs. That cash conversion helps the company delever, sustain operations through cyclical demand and fund strategic investments without relying solely on external financing.
Negative Factors
Revenue decline
Two consecutive years of falling revenue undermine operating leverage and indicate weakening demand or lost design-wins. Declining top-line makes it harder to cover fixed costs, slows margin recovery, reduces retained earnings available for deleveraging, and raises execution risk for strategic initiatives over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating and free cash flow — with a meaningful FCF improvement in 2026 — provides durable internal funding to support R&D, capex and working capital needs. That cash conversion helps the company delever, sustain operations through cyclical demand and fund strategic investments without relying solely on external financing.
Read all positive factors
LEM Holding SA (LEHN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF628.96M
Dividend Yield3.57%
Average Volume (3M)3.34K
Price to Earnings (P/E)63.7
Beta (1Y)1.03
Revenue Growth-6.27%
EPS Growth17.54%
CountryCH
Employees1,626
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)8.66
Shares Outstanding1,140,000
10 Day Avg. Volume2,936
30 Day Avg. Volume3,340
Financial Highlights & Ratios
PEG Ratio1.90
Price to Book (P/B)2.44
Price to Sales (P/S)1.14
P/FCF Ratio10.35
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)24.86
Revenue Forecast (FY)CHF311.48M
LEM Holding SA Business Overview & Revenue Model
Company Description
LEM Holding SA, along with its affiliates, delivers global solutions for the precise measurement of electrical parameters, maintaining a significant presence in key markets like China, the United States, Germany, Japan, Italy, and Switzerland. The...
How the Company Makes Money
LEM primarily makes money by selling electrical measurement components—most notably current transducers and sensors (e.g., Hall-effect- and fluxgate-based solutions) and voltage transducers—into equipment made by original equipment manufacturers (...
LEM Holding SA Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with notable achievements in cost management and strategic expansion, but significant challenges remain in terms of margin pressures and regional performance, particularly in the Renewable Energy and EMEA segments.Positive Updates
Positive Momentum in Key Segments
The Automation, Automotive, and Track segments showed growth, with Automotive growing by 9% in constant currencies and the Track business growing by 15%.
Negative Updates
Decline in Gross Margin
Gross margin dropped by almost 15% in the first half due to Forex, price, and mix impacts, with only a slight recovery in Q2.
Read all updates
Q2-2026 Updates
Positive
Negative
Positive Momentum in Key Segments
The Automation, Automotive, and Track segments showed growth, with Automotive growing by 9% in constant currencies and the Track business growing by 15%.
Read all positive updates
Company Guidance
In the call, LEM Holding S.A. provided guidance for the fiscal year 2025-26, indicating a sales range of CHF 265 million to CHF 290 million and aiming for a high single-digit EBIT margin due to their Fit for Growth program. The company reported a 5% decline in sales in the first half of the year, primarily due to FX losses, but achieved a positive growth of 0.5% in constant currencies. The gross margin dropped by nearly 15% to CHF 59 million, but showed signs of recovery in Q2. LEM's net profit margin landed at 6.8% of sales for the first half. The company aims to maintain strict cost discipline and focus on financial resilience, with a long-term annual growth target of 4% to 7% in constant currencies and an EBIT margin corridor of 10% to 15%.LEM Holding SA Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
62
Positive
Cash Flow
68
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 287.68M | 306.92M | 405.78M | 406.35M | 373.39M |
| Gross Profit | 115.12M | 132.59M | 189.16M | 192.19M | 177.28M |
| EBITDA | 43.88M | 34.16M | 93.64M | 106.98M | 103.35M |
| Net Income | 9.86M | 8.39M | 65.33M | 75.34M | 72.37M |
Balance Sheet | |||||
| Total Assets | 318.49M | 345.60M | 344.32M | 332.48M | 306.14M |
| Cash, Cash Equivalents and Short-Term Investments | 35.41M | 18.70M | 23.71M | 21.77M | 17.20M |
| Total Debt | 125.45M | 142.91M | 95.66M | 73.62M | 70.67M |
| Total Liabilities | 183.69M | 219.83M | 167.65M | 158.85M | 144.94M |
| Stockholders Equity | 134.79M | 125.77M | 176.68M | 173.63M | 161.20M |
Cash Flow | |||||
| Free Cash Flow | 31.79M | 14.61M | 45.27M | 60.61M | 28.91M |
| Operating Cash Flow | 39.92M | 30.18M | 74.42M | 87.00M | 50.43M |
| Investing Cash Flow | -8.19M | -16.20M | -31.56M | -26.45M | -21.00M |
| Financing Cash Flow | -14.25M | -18.68M | -39.80M | -54.93M | -34.64M |
LEM Holding SA Technical Analysis
Positive
519.00
Price Trends
482.35
Positive
433.24
Positive
365.54
Positive
Market Momentum
14.01
Positive
60.21
Neutral
90.07
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:LEHN, the sentiment is Positive. The current price of 519 is below the 20-day moving average (MA) of 541.15, above the 50-day MA of 482.35, and above the 200-day MA of 365.54, indicating a bullish trend. The MACD of 14.01 indicates Positive momentum. The RSI at 60.21 is Neutral, neither overbought nor oversold. The STOCH value of 90.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:LEHN.
LEM Holding SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | CHF4.13B | 52.62 | ― | 1.18% | -1.56% | -13.87% | |
71 Outperform | CHF1.22B | 42.79 | 9.04% | ― | 1.13% | 62.86% | |
66 Neutral | CHF628.96M | 63.74 | 7.42% | 3.57% | -6.27% | 17.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | CHF2.67B | 149.87 | ― | 0.15% | -2.79% | -54.20% | |
49 Neutral | CHF1.79B | -5.90 | -37.58% | 0.34% | -2.71% | -177.79% |
* Technology Sector Average
CH:LEHN
LEM Holding SA
552.00
84.50
18.07%
CH:IFCN
INFICON Holding AG
168.80
76.05
82.00%
CH:AMS
ams-OSRAM
18.09
8.38
86.30%
CH:COTN
COMET Holding AG
343.20
163.59
91.08%
CH:SENS
Sensirion Holding AG
78.30
14.60
22.92%
LEM Holding SA Corporate Events
LEM rides data center boom to double‑digit sales and profit growth in Q1
Jul 28, 2026
LEM reported a strong start to its 2026/27 financial year, with first‑quarter sales rising 12.4% to CHF 85.1 million and bookings jumping 17.4%, driven chiefly by demand for data center cooling, power supply and high‑voltage infrastruc...
LEM lifts profitability on data center demand and launches strategic review
May 26, 2026
LEM Holding reported broadly stable sales at constant currencies for 2025/26, as revenue slipped 6.3% to CHF 287.7 million on currency headwinds, but Automation grew strongly and bookings rebounded, driving a Q4 book‑to‑bill of 1.16 an...
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.