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Tecan Group AG
(TECN)
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Rating:68Neutral
Price Target:
CHF266.00
▲(36.83% Upside)
Action:Reiterated
Date:10/06/26
CH:TECN scores 68 driven primarily by strong technical momentum (price above all key moving averages with positive MACD) and a constructive earnings call with reiterated guidance and long-term targets. The main offset is weaker underlying financial performance, highlighted by multi-year revenue declines and a 2025 net loss, while valuation is constrained by a negative P/E despite a modest dividend yield.
Positive Factors
Recurring installed-base revenue
Tecan’s installed instruments create repeat demand for compatible consumables, service contracts, software and support. This mix can make customer relationships more durable, improve revenue visibility, and provide monetization opportunities beyond the initial capital-equipment sale.
Negative Factors
Prolonged revenue and earnings deterioration
Three consecutive years of revenue contraction, combined with a sharp 2025 loss, shows that the company’s recent earnings base has weakened materially. Rebuilding profitable growth will require sustained demand improvement and successful execution rather than a simple normalization of one quarter.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring installed-base revenue
Tecan’s installed instruments create repeat demand for compatible consumables, service contracts, software and support. This mix can make customer relationships more durable, improve revenue visibility, and provide monetization opportunities beyond the initial capital-equipment sale.
Read all positive factors
Tecan Group AG (TECN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.01B
Dividend Yield1.28%
Average Volume (3M)75.76K
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth-3.98%
EPS Growth-284.91%
CountryCH
Employees3,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-9.16
Shares Outstanding12,825,883
10 Day Avg. Volume104,322
30 Day Avg. Volume75,756
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.41
Price to Sales (P/S)1.84
P/FCF Ratio15.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF224.60Price Target Upside15.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)6.39
Revenue Forecast (FY)CHF886.10M
Tecan Group AG Business Overview & Revenue Model
Company Description
Tecan Group AG, established in 1980 and headquartered in Männedorf, Switzerland, specializes in providing cutting-edge laboratory instruments and holistic solutions. The company caters to a broad spectrum of clients, including pharmaceutical and b...
How the Company Makes Money
Tecan makes money primarily by selling and supporting laboratory automation and detection products, along with recurring revenue from consumables and services.
1) Instrument and system sales (capital equipment): A significant portion of revenue c...
Tecan Group AG Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 16, 2027
Earnings Call Sentiment Positive
The call painted an overall constructive picture: Tecan delivered above-market sales growth in local currencies, maintained a healthy book-to-bill and recorded a resilient adjusted EBITDA margin with underlying profitability improvement. Management confirmed multi-year targets and reported early, tangible benefits from the Rewired transformation alongside strategic AI and geographic initiatives. However, material challenges remain — gross margin compression (material inflation, FX and tariffs), weaker operating cash flow, supply-chain shipment delays (Cavro), upfront transformation and IT costs, and weakness in the Academia & Government end market. On balance, the positive operational momentum, validated guidance and strategic progress outweigh the near-term financial and operational headwinds, but the company must execute Rewired and Elevate while stabilizing cash conversion and margins.Positive Updates
Above-Market Sales Growth
Group sales of CHF 427.5 million, up 3.4% in local currencies (reported -2.7% due to FX). Q2 sales growth sustained at +3.4% in local currencies.
Negative Updates
Gross Margin Compression
Gross profit margin declined from 36.2% to 33.9% (a decline of c.230 basis points), driven by material cost inflation, inventory valuation effects, FX and tariffs.
Read all updates
Q2-2026 Updates
Positive
Negative
Above-Market Sales Growth
Group sales of CHF 427.5 million, up 3.4% in local currencies (reported -2.7% due to FX). Q2 sales growth sustained at +3.4% in local currencies.
Read all positive updates
Company Guidance
Tecan reiterated full‑year 2026 guidance for low‑single‑digit sales growth in local currencies (with the aim to grow above the market) and an adjusted EBITDA margin of 15.5–16.5%, saying it currently expects to close the year toward the upper end of that range; management also said the tariff headwind is now expected at roughly 40 basis points for the full year (H1 was ~‑50bps, H2 ~‑30bps) and that a tariff refund of ~CHF 6m is expected in H2. The Rewired program is expected to require CHF 45–60m of OpEx over three years (CHF 7.6m booked in H1) and to help deliver >4% CAGR versus the 2025 baseline to reach the 2028 targets of CHF 1.0bn sales and a 20% adjusted EBITDA margin (and beyond 2028 a mid‑ to high‑single‑digit sales CAGR and >20% margin); Elevate (ERP/CRM) non‑recurring costs were CHF 9.9m in H1 with go‑lives planned in H1 2027.Tecan Group AG Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 870.53M | 882.48M | 934.28M | 1.07B | 1.14B | 946.62M |
| Gross Profit | 296.50M | 280.19M | 320.60M | 390.47M | 405.32M | 388.02M |
| EBITDA | 98.06M | 86.23M | 147.80M | 205.57M | 210.85M | 201.22M |
| Net Income | -116.30M | -110.65M | 67.66M | 132.07M | 121.13M | 121.66M |
Balance Sheet | ||||||
| Total Assets | 1.65B | 1.70B | 2.12B | 2.07B | 2.16B | 2.04B |
| Cash, Cash Equivalents and Short-Term Investments | 224.63M | 311.37M | 406.01M | 366.42M | 293.24M | 241.91M |
| Total Debt | 214.32M | 218.32M | 321.35M | 316.09M | 307.68M | 313.66M |
| Total Liabilities | 530.12M | 546.60M | 686.15M | 725.06M | 776.40M | 800.26M |
| Stockholders Equity | 1.12B | 1.15B | 1.44B | 1.35B | 1.36B | 1.22B |
Cash Flow | ||||||
| Free Cash Flow | 59.02M | 102.67M | 117.86M | 125.63M | 91.24M | 126.12M |
| Operating Cash Flow | 95.13M | 137.98M | 148.54M | 160.57M | 127.47M | 165.84M |
| Investing Cash Flow | -23.58M | 76.50M | -48.61M | -84.23M | -88.22M | -651.95M |
| Financing Cash Flow | -203.41M | -187.48M | -81.30M | -50.57M | -47.82M | 458.53M |
Tecan Group AG Technical Analysis
Positive
194.40
Price Trends
207.36
Positive
187.22
Positive
159.22
Positive
Market Momentum
9.59
Positive
61.78
Neutral
24.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:TECN, the sentiment is Positive. The current price of 194.4 is below the 20-day moving average (MA) of 227.67, below the 50-day MA of 207.36, and above the 200-day MA of 159.22, indicating a bullish trend. The MACD of 9.59 indicates Positive momentum. The RSI at 61.78 is Neutral, neither overbought nor oversold. The STOCH value of 24.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:TECN.
Tecan Group AG Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | CHF285.61B | 23.29 | 37.12% | 2.74% | -1.06% | 30.86% | |
71 Outperform | CHF217.04M | 11.60 | 24.40% | 3.32% | 2.57% | 526.95% | |
68 Neutral | CHF3.01B | -25.66 | -10.25% | 1.28% | -3.98% | -284.91% | |
62 Neutral | CHF1.59B | 53.16 | ― | 0.31% | 9.37% | 85.35% | |
53 Neutral | CHF403.13M | 3,908.00 | ― | 1.02% | -6.64% | ― | |
52 Neutral | CHF1.88B | -35.45 | -2.80% | 1.87% | -0.26% | 56.17% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CH:TECN
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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.