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Straumann Holding AG
(STMN)
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Rating:70Outperform
Price Target:
CHF110.00
▲(20.17% Upside)
Action:Reiterated
Date:08/19/26
The score is driven primarily by solid underlying financial quality but mixed recent financial trends (margin and cash conversion softness), alongside a constructive earnings-call outlook with confirmed 2026 guidance and improved H1 profitability and free cash flow. Offsetting these positives are a demanding valuation (high P/E, low yield) and cautious near-term technical signals (below short-term moving averages with subdued momentum).
Positive Factors
Organic Growth and Guidance
Broad regional growth and confirmed high single-digit organic guidance indicate continued demand for dental implants, orthodontics and digital workflows. This supports revenue visibility over the next several quarters and demonstrates resilient market positioning.
Negative Factors
China Pricing and Regulatory Risk
China’s VBP 2.0 process could pressure implant pricing and profitability, while the market’s gradual recovery limits near-term growth visibility. Lower ASPs could also complicate Straumann’s premium positioning and require continued product or mix adaptation.
Read all positive and negative factors
Positive Factors
Negative Factors
Organic Growth and Guidance
Broad regional growth and confirmed high single-digit organic guidance indicate continued demand for dental implants, orthodontics and digital workflows. This supports revenue visibility over the next several quarters and demonstrates resilient market positioning.
Read all positive factors
Straumann Holding AG (STMN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF14.60B
Dividend Yield1.08%
Average Volume (3M)415.23K
Price to Earnings (P/E)39.9
Beta (1Y)1.18
Revenue Growth2.24%
EPS Growth-5.84%
CountryCH
Employees11,582
SectorGeneral
Sector StrengthN/A
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)2.33
Shares Outstanding159,455,250
10 Day Avg. Volume293,178
30 Day Avg. Volume415,225
Financial Highlights & Ratios
PEG Ratio-5.09
Price to Book (P/B)6.91
Price to Sales (P/S)5.73
P/FCF Ratio45.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF99.00Price Target Upside8.15% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)3.22
Revenue Forecast (FY)CHF2.77B
Straumann Holding AG Business Overview & Revenue Model
Company Description
Straumann Holding AG is a global leader in providing advanced solutions for tooth replacement and orthodontic treatment. The company actively researches, develops, manufactures, and distributes a comprehensive range of dental products and services...
How the Company Makes Money
Straumann primarily generates revenue by selling dental products and related solutions to dental professionals and dental laboratories (and, depending on market, via distributors). Key revenue streams include: (1) Implantology: sales of dental imp...
Straumann Holding AG Earnings Call Summary
Earnings Call Date:Aug 19, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call highlighted broad and accelerating commercial momentum (high single-digit organic growth, broad regional contributions), meaningful margin expansion driven by productivity and disciplined OpEx management, strong cash flow generation and rapid uptake of digital solutions and implant platforms. Key near-term headwinds include US tariffs (partly recognized), an FX-related margin drag (~80–100 bps at July spot rates), and regulatory/pricing uncertainty in China (VBP 2.0) plus a small noncore drag. Management confirmed a confident outlook and reiterated medium-term ambitions. On balance the positive operational and financial developments outweigh the challenges, though execution on China/VBP and currency management remain important risks to monitor.Positive Updates
Strong Revenue Growth
Q2 revenue of CHF 707m (organic +8.5%, reported +5.9% in CHF); H1 revenue ~CHF 1.4bn (organic +7.8%, reported +2.3% in CHF). Acceleration from Q1 to Q2 with contributions across all regions.
Negative Updates
US Tariffs and One-Time Write-Down Impact
US tariffs reduced gross margin by ~60 bps in H1; a one-time equipment write-down related to Villeret rightsizing reduced margin by ~30 bps. Tariff effects still affecting H2 and unwind/timing impacts remain relevant.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Q2 revenue of CHF 707m (organic +8.5%, reported +5.9% in CHF); H1 revenue ~CHF 1.4bn (organic +7.8%, reported +2.3% in CHF). Acceleration from Q1 to Q2 with contributions across all regions.
Read all positive updates
Company Guidance
Straumann confirmed its 2026 guidance — high single‑digit organic revenue growth and a core EBIT margin improvement of around 140–170 basis points at constant 2025 FX — after a strong H1: Q2 revenue CHF 707m (organic +8.5%, reported +5.9% in CHF) and H1 revenue ~CHF 1.4bn (organic +7.8%, reported +2.3% in CHF). H1 core gross profit was CHF 972m (core gross margin 70.5%; IFRS gross margin 72%), and core EBIT was CHF 355m (margin 25.7% including FX; 26.9% at constant FX), with core net profit CHF 262m (margin 19%; currency‑adjusted +15.7% YoY) and IFRS net profit CHF 251m after CHF 11m net non‑core items. Cash generation was solid: free cash flow CHF 169m (up 49%; 12.2% of net revenue vs 8.4% a year ago), operating cash flow CHF 239m, investing cash outflow CHF 105m, CapEx CHF 74m (5.4% of revenue vs CHF 113m prior), cash and equivalents CHF 381m and net cash ~CHF 350m with a target equity ratio near 59%. Management noted headwinds/one‑offs—US tariffs reduced gross margin by ~60bps and a one‑time Villeret equipment write‑down cost ~30bps—but reiterated the upgraded outlook and commitment to reinvestment, balance‑sheet strength and dividend progression.Straumann Holding AG Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.64B | 2.60B | 2.50B | 2.41B | 2.32B | 2.02B |
| Gross Profit | 1.80B | 1.79B | 1.78B | 1.79B | 1.70B | 1.53B |
| EBITDA | 685.91M | 696.07M | 726.15M | 495.42M | 678.33M | 591.48M |
| Net Income | 370.51M | 355.92M | 388.32M | 246.07M | 434.79M | 396.08M |
Balance Sheet | ||||||
| Total Assets | 3.90B | 3.82B | 3.62B | 3.40B | 3.45B | 3.05B |
| Cash, Cash Equivalents and Short-Term Investments | 380.99M | 489.57M | 383.07M | 413.54M | 697.11M | 881.50M |
| Total Debt | 510.94M | 650.72M | 460.90M | 412.35M | 705.20M | 706.57M |
| Total Liabilities | 1.61B | 1.65B | 1.58B | 1.56B | 1.60B | 1.55B |
| Stockholders Equity | 2.28B | 2.16B | 2.04B | 1.84B | 1.85B | 1.50B |
Cash Flow | ||||||
| Free Cash Flow | 383.04M | 329.78M | 315.62M | 316.61M | 220.94M | 440.97M |
| Operating Cash Flow | 524.79M | 505.42M | 483.39M | 503.95M | 416.38M | 561.94M |
| Investing Cash Flow | -224.17M | -275.35M | -352.62M | -349.33M | -449.84M | -185.20M |
| Financing Cash Flow | -164.84M | -105.95M | -169.06M | -424.40M | -140.35M | -122.90M |
Straumann Holding AG Technical Analysis
Negative
91.54
Price Trends
101.93
Negative
95.19
Negative
93.53
Negative
Market Momentum
-2.21
Positive
33.80
Neutral
13.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:STMN, the sentiment is Negative. The current price of 91.54 is below the 20-day moving average (MA) of 99.83, below the 50-day MA of 101.93, and below the 200-day MA of 93.53, indicating a bearish trend. The MACD of -2.21 indicates Positive momentum. The RSI at 33.80 is Neutral, neither overbought nor oversold. The STOCH value of 13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:STMN.
Straumann Holding AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | CHF29.34B | 55.90 | 2.91% | 0.50% | -0.87% | -44.90% | |
70 Outperform | CHF14.60B | 39.86 | ― | 1.04% | 2.24% | -5.84% | |
65 Neutral | CHF2.55B | 28.23 | 21.69% | 0.84% | 13.93% | 28.92% | |
62 Neutral | CHF4.23B | 19.26 | ― | 3.83% | -1.37% | 8.55% | |
62 Neutral | CHF1.21B | 75.25 | ― | ― | 29.92% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | CHF355.68M | 3,564.00 | ― | 1.22% | -6.64% | ― |
* General Sector Average
CH:STMN
Straumann Holding AG
92.88
-0.58
-0.62%
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-6.62
-10.15%
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-16.69
-11.58%
CH:MEDX
medmix AG
8.91
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-15.80%
CH:MED
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90.30
3.30
3.79%
Straumann Holding AG Corporate Events
Straumann lifts profitability as digital and implantology growth accelerates
Aug 19, 2026
Straumann Group reported second-quarter revenue of CHF 707 million, with organic growth accelerating to 8.5%, bringing first-half revenue to CHF 1.38 billion and 7.8% organic growth. Growth was broad-based across regions, led by strong performance...
Straumann names Christopher Norbye as CEO to lead next growth phase
Aug 19, 2026
Straumann Group has announced a planned leadership transition, appointing Christopher Norbye as Chief Executive Officer effective 1 December 2026, succeeding long‑serving CEO Guillaume Daniellot. Norbye will join the company in October to en...
Straumann Group Schedules Webcast for Half-Year 2026 Results
Jul 13, 2026
The Straumann Group will release its half-year 2026 financial results on 19 August 2026, publishing figures early in the morning and following up with a live audio webcast for investors, analysts and media. Management will present the operational ...
Straumann lifts 2026 profit outlook on stronger margins and China recovery
Jun 17, 2026
Straumann Group has raised its profitability guidance for 2026, citing stronger-than-expected performance across all business franchises, a favorable geographic mix and lower tariffs. The company now expects core EBIT margin expansion of 140 to 17...
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.