EMS-CHEMIE HOLDING AG (EMSN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of EMS-CHEMIE HOLDING AG stock CHF 285, price CHF 860, that is 66.9% below the price, quality 83 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range CHF 519.70 – CHF 911.72 · fair‑value band CHF 219.57 – CHF 349.68 · the CHF 859.50 price screens above the CHF 284.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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EMS-CHEMIE HOLDING AG engages in the polymers and specialty chemicals businesses in the Americas, Europe, Asia, and internationally.
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It is involved in the manufacturing and supply of high-performance polyamide granulate, as well as develops, produces, and sells fibers, fusible adhesives, and adhesive yarns for technical and textile applications, powder coatings, and reactive diluents.
The company also offers bonding, coating, sealing, and damping systems; and hotmelt adhesives, crosslinkers, epoxy systems, technical fibers, adhesion promoters, and fusible bonding yarns and granules.
It serves automotive, electro and electronic, industry and consumer goods, optic, and packaging markets. EMS-CHEMIE HOLDING AG was founded in 1936 and is based in Domat/Ems, Switzerland.
Stock analysis
EMS-CHEMIE HOLDING AG (EMSN) currently trades at CHF 859.50, while our model-based Fair Value estimate is CHF 284.63, 67% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of CHF 304.81 per share, and 0 of the 24 models we run sit above the CHF 859.50 price.
Bear case: the Asset-Based group reads lowest at CHF 48.92, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 219.57 (bear) to CHF 349.68 (bull), the price of CHF 859.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 83/100 (high quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
EMS-CHEMIE HOLDING AG reported revenue of CHF 2.0B in FY2025 versus CHF 2.3B in FY2021, a compound −3.6%/yr. Reported net income was CHF 467M in FY2025, compounding −4.0%/yr from FY2021.
Key figures
Market cap CHF 20.1B Large · P/E ratio 42.6 · P/S ratio 10.4 · EPS (TTM) CHF 20.19 · Dividend yield 2.1% · Net margin 24.5% · Return on equity 22.7% · Return on assets (EBIT) 25.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 84 out of 100 (medium confidence).
What moves the price
The share trades about 4% below its 52-week high and 65% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at −67%, EMSN screens richer than that median.
Fair Value models
BearCHF 219.57Fair Value CHF 284.63BullCHF 349.68
Price CHF 859.50 · Downside -66.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 1.52 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−5.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.6%
Start year 2020 (pandemic). Over 10 years: +0.1% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−0.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.4%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.4% vs 2.2%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.28% → 28%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +17.2% a year for the price and +3.1% for the forecasts.
AI conclusion: Profitability is supported by resilient margins in specialty polymers from product mix and cost discipline, while the main weakness remains flat sales that signal limited growth and thin evidence of a durable moat.
Main risk: The flat sales trend risks restricting long-term revenue expansion in the specialty polymers segment by offering few new volume opportunities beyond current applications.
EMS-Chemie posted higher profits and margins in the first half even as sales edged lower. The specialty polymers business benefited from a stronger product mix and cost discipline. Our models see it as overvalued. Will this margin resilience prove durable or does the flat sales trend point to limited growth ahead?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 727 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score83 · Top 25%
Fair Value upside−66.9% · Bottom 25%
Profitability
Return on equity (12 months)22.7% · Top 25%
Return on assets21.0% · Top 25%
Net margin (12 months)24.5% · Top 25%
Operating margin (12 months)30.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−0.9% · Bottom 25%
Dividend yield (12 months)2.1% · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (12 months)42.6× · Priciest 25%
P/B10.84× · Priciest 25%
P/S (12 months)10.37× · Priciest 25%
Price / free cash flow39.5× · Pricier than median
EV/EBITDA31.0× · Priciest 25%
PEG7.69× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 67
PAST (return on equity)91· sector 27
HEALTH (low debt)100· sector 95
DIVIDEND (yield)43· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "EMS-CHEMIE HOLDING AG Fair Value". https://www.fairvalue-calculator.com/stock/EMSN
Frequently asked questions
Is EMS-CHEMIE HOLDING AG (EMSN) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of CHF 284.63 versus a price of CHF 859.50, about 67% lower (overvalued).
What is the fair value of EMSN?
Our model-based fair value for EMS-CHEMIE HOLDING AG is CHF 284.63 (as of Nov 3, 2026), built from audited fundamentals. The current price: CHF 859.50.
What is the quality score of EMSN?
EMS-CHEMIE HOLDING AG has a Quality Score of 83/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for EMS-CHEMIE HOLDING AG (EMSN)?
Our model-based price target is the fair value of CHF 284.63 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario CHF 219.57, optimistic scenario CHF 349.68. It is a calculation from audited fundamentals, not an analyst target.
What is the EMS-CHEMIE HOLDING AG stock forecast for 2026?
Our models put fair value at CHF 284.63, about 67% lower versus a price of CHF 859.50 (overvalued). Cautious scenario CHF 219.57, optimistic scenario CHF 349.68. The calculation is refreshed regularly with new filings.
What is the revenue of EMS-CHEMIE HOLDING AG (EMSN)?
EMS-CHEMIE HOLDING AG reported trailing-twelve-month revenue of about CHF 1.9B (latest available figure, as of Nov 3, 2026).
Does EMS-CHEMIE HOLDING AG pay a dividend?
EMS-CHEMIE HOLDING AG currently shows a dividend yield of 2.14% relative to its recent price (as of Nov 3, 2026).
What growth is priced into EMS-CHEMIE HOLDING AG (EMSN)?
For today's price to be fair in a discounted-cash-flow model, EMS-CHEMIE HOLDING AG would have to grow free cash flow by +17.9 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.6 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of EMSN use?
Our models discount EMS-CHEMIE HOLDING AG at 8.5 %: a base by market capitalisation (large), damped by beta 0.76, country premium for Switzerland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EMS-CHEMIE HOLDING AG that is +17.9 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has EMS-CHEMIE HOLDING AG (EMSN) delivered so far?
Over the past 5 years revenue at EMS-CHEMIE HOLDING AG grew +1.6 % a year. The price currently implies +17.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EMS-CHEMIE HOLDING AG (EMSN) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into EMS-CHEMIE HOLDING AG (+17.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EMS-CHEMIE HOLDING AG (EMSN)?
The free-cash-flow yield on the price is 2.53 %: that much free cash flow EMS-CHEMIE HOLDING AG produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EMS-CHEMIE HOLDING AG (EMSN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EMS-CHEMIE HOLDING AG it is CHF 284.63 per share (as of Nov 3, 2026), against a price of CHF 859.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is EMS-CHEMIE HOLDING AG stock overvalued or undervalued in 2026?
As of Nov 3, 2026, EMSN trades above its calculated fair value: price CHF 859.50, fair value CHF 284.63, a gap of about −67% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EMSN?
No. The price is what the market pays today (CHF 859.50); the fair value is what the company's own numbers justify (CHF 284.63). For EMS-CHEMIE HOLDING AG the two are CHF 574.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is EMS-CHEMIE HOLDING AG worth?
The market values EMS-CHEMIE HOLDING AG at about CHF 20.1B (market capitalisation, as of Nov 3, 2026). Per share that is CHF 859.50; our models calculate a fair value of CHF 284.63 per share.
What do the bullish and bearish scenarios say about EMSN?
Our models span a range for EMS-CHEMIE HOLDING AG: cautious scenario CHF 219.57, base CHF 284.63, optimistic CHF 349.68 per share (as of Nov 3, 2026, price CHF 859.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EMSN?
EMS-CHEMIE HOLDING AG trades at a price-to-earnings ratio of 42.6 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 284.63 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 29.6. Other multiples: PEG 7.7, P/B 10.8, P/S 10.4, EV/EBITDA 31.0.
What is the PEG ratio of EMSN?
The PEG ratio of EMS-CHEMIE HOLDING AG is 7.69 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of EMS-CHEMIE HOLDING AG (EMSN)?
Balance-sheet figures for EMS-CHEMIE HOLDING AG (as of Nov 3, 2026): return on equity 22.7%. They feed the Quality Score of 83/100, which measures business quality independently of the share price.
How far is EMSN from its 52-week high?
EMS-CHEMIE HOLDING AG trades at CHF 859.50, about 4% below its 52-week high of CHF 895.50 and 65% above the low of CHF 519.70 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 284.63 is for.
Which stocks are comparable to EMS-CHEMIE HOLDING AG?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is EMS-CHEMIE HOLDING AG stock attractive at the current price?
The data as of Nov 3, 2026: price CHF 859.50, calculated fair value CHF 284.63 (−67%), Quality Score 83/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EMSN calculated?
We run EMS-CHEMIE HOLDING AG through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of CHF 284.63, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. EMS-CHEMIE HOLDING AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of EMS-CHEMIE HOLDING AG (EMSN)?
The closing price on Nov 5, 2026 was CHF 859.50. Our model-based fair value is CHF 284.63, about 67% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EMS-CHEMIE HOLDING AG right now?
A high-quality business (quality 83/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (CHF 349.68). The favourable scenario is already priced in.
Where does the earnings growth of EMS-CHEMIE HOLDING AG (EMSN) come from?
Earnings per share at EMS-CHEMIE HOLDING AG grew +1.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin +0.5 %, tax rate +0.4 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of EMS-CHEMIE HOLDING AG
How large is the market capitalisation of EMS-CHEMIE HOLDING AG (EMSN)?
The market capitalisation of EMS-CHEMIE HOLDING AG is CHF 20.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of EMS-CHEMIE HOLDING AG (EMSN)?
The price-to-sales ratio of EMS-CHEMIE HOLDING AG is 10.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of EMS-CHEMIE HOLDING AG (EMSN)?
Earnings per share at EMS-CHEMIE HOLDING AG are CHF 20.19 (price ÷ EPS = P/E 42.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of EMS-CHEMIE HOLDING AG (EMSN)?
The dividend yield of EMS-CHEMIE HOLDING AG is 2.1% (payout 91.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of EMS-CHEMIE HOLDING AG (EMSN)?
The net margin of EMS-CHEMIE HOLDING AG is 24.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of EMS-CHEMIE HOLDING AG (EMSN)?
The return on equity (ROE) of EMS-CHEMIE HOLDING AG is 22.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of EMS-CHEMIE HOLDING AG (EMSN)?
On an EBIT basis the return on assets of EMS-CHEMIE HOLDING AG is 25.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of EMS-CHEMIE HOLDING AG (EMSN)?
The operating margin of EMS-CHEMIE HOLDING AG is 30.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EMS-CHEMIE HOLDING AG (EMSN)?
Revenue at EMS-CHEMIE HOLDING AG is growing −0.9% versus a year earlier (3y avg −7.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at EMS-CHEMIE HOLDING AG (EMSN)?
Earnings per share at EMS-CHEMIE HOLDING AG are growing +3.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does EMS-CHEMIE HOLDING AG (EMSN) hold?
EMS-CHEMIE HOLDING AG holds more cash than debt, CHF 571M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026