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Burkhalter Holding (0QO2) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Burkhalter Holding £174, price £122, upside +42.7%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Industrials · GB · ISIN CH0212255803

BH Broad data Sep 24, 2026

Burkhalter Holding

0QO2 · LSE

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value £174.40 · Undervalued (+42.7%)
✓Quality 69/100
✓Healthy Growth (revenue 5y +19.0 %/yr)
!Thin margins · 5.1% net margin (TTM)
✓Low debt · generates free cash flow
✓4.3% dividend yield · Sustainable
!Moderate moat 59/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£190.97 £54.19 Fair Value £174.40 Dec 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range £54.19 – £190.97 · fair‑value band £130.80 – £226.09 · the £122.20 price screens below the £174.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Burkhalter Holding AG, through its subsidiaries, provides electrical engineering services to the construction sector primarily in Switzerland.

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Burkhalter Holding AG, through its subsidiaries, provides electrical engineering services to the construction sector primarily in Switzerland. The company offers installations services for single-family homes and residential developments, industrial and commercial enterprises, public buildings, hotels and infrastructure facilities, etc.; automation solutions to control technical equipment, such as lighting, blinds, heating, ventilation, and multimedia and security technology; and switchboards. It also provides radiators, heated towel rails, convectors, underfloor heating, air heaters, and water heating systems; ventilation and air-conditioning systems; water and wastewater, gas installations, compressed air equipment, and pre-wall installations; and roofing services. In addition, the company offers cladding, roof edges, edging, gutters, and drain pipes; and plant engineering solution for biopharmaceutical, chemical and production plants, as well as construction of power plant, as well as sludge removal and flushing of heating systems; repairs and upkeep of heating systems, pumps, and valves; burner service; and service subscriptions and maintenance. Further, it is involved in providing energy advice and concepts; planning of building technology systems; planning of electrical systems and building automation; advice, planning, and installation of district heating networks for sites, districts and communities; water supply and disposal; and gas supply. The company was formerly known as Ernst Burkhalter Ing. Burkhalter Holding AG was founded in 1959 and is based in Zurich, Switzerland.

Stock analysis

Burkhalter Holding (0QO2) currently trades at £122.20, while our model-based Fair Value estimate is £174.40, implying the stock looks roughly 29.9% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of £203.77 per share, and 17 of the 26 models we run sit above the £122.20 price.

Bear case: the Economic Profit group reads lowest at £60.51, and 9 of the 26 models stay below the price. Evidence for this calculation is high.

Scenario range: £130.80 (bear) to £226.09 (bull), the price of £122.20 sits below 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 69/100 (solid quality), in the Industrials sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Burkhalter Holding reported revenue of £1.2B in FY2025 versus £549M in FY2021, a compound +21.7%/yr. Reported net income was £61.3M in FY2025, compounding +26.6%/yr from FY2021.

Key figures

Market cap £1.3B · P/E ratio 0.3 · P/S ratio 0.02 · EPS (TTM) £3.99 · Dividend yield 4.3% · Net margin 5.1% · Return on equity 44.7% · Return on assets (EBIT) 12.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 43%, 0QO2 screens cheaper than that median.

Fair Value models

Bear £130.80 Fair Value £174.40 Bull £226.09
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF £170.37 £243.33 £341.23 81
Growth DCF £171.22 £234.30 £313.53 79
Owner Earnings £109.01 £153.99 £214.35 77
All 26 models by family
DCF Models
FCF DCF £170.37 £243.33 £341.23 81
Owner Earnings £109.01 £153.99 £214.35 77
5Y Revenue Exit £131.16 £188.83 £260.67 73
5Y EBITDA Exit £139.12 £203.77 £277.74 75
5Y P/E Exit £160.18 £243.32 £329.99 71
10Y Revenue Exit £143.01 £196.62 £265.92 67
10Y EBITDA Exit £150.22 £206.11 £277.87 69
10Y P/E Exit £162.52 £231.25 £314.42 64
Earnings-Based
Graham-Dodd £69.76 £222.29 £296.32 64
Lynch FV £49.05 £70.07 £91.09 61
PEG = 1.0 £49.05 £70.07 £91.09 57
EPV £82.03 £91.81 £99.95 74
Dividend Discount
Gordon GGM £66.93 £120.61 £166.04 68
DDM Multi-Stage £66.93 £105.17 £128.84 67
Multiples
P/E Multiple £161.58 £215.44 £269.30 63
P/S Multiple £130.80 £174.40 £218.00 58
P/B Multiple £78.67 £104.90 £131.12 55
EV/EBIT £150.34 £197.00 £243.67 66
EV/EBITDA £132.34 £173.01 £213.68 67
EV/Revenue £110.26 £153.08 £195.91 54
Asset-Based
NCAV (Graham) £11.66 £15.62 £23.31 54
Growth DCF
Growth DCF £171.22 £234.30 £313.53 79
Rev-Margin DCF £131.16 £190.51 £259.76 73
Economic Profit
Residual Income £48.81 £60.51 £99.78 74
ROIC Compounder £84.57 £97.50 £110.05 72
Growth Earnings
Growth-Adj P/E £134.70 £192.43 £250.16 67

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Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 41

Profitability 75
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.9%
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.
+16.6%
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.
+19.0%
Start year 2020 (pandemic). Over 10 years: +8.2% a year
Revenue growth 18 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.
+6.3%
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.
+13.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)4.3%
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.9.2% vs 0.0%, picking up
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.3% → 6%
Start year 2020 (pandemic)

Growth Forecast

Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+2.0%
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.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about −0.4% a year for the price and +1.0% for the forecasts.
Forecast 2026 (sales)+4.5%
Forecast 2027 (sales)+3.3%
Projected 2028 (sales)+3.1%
Projected 2029 (sales)+2.9%
Projected 2030 (sales)+2.8%

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Cite: Fair Value Calculator (2026). "Burkhalter Holding Fair Value". https://www.fairvalue-calculator.com/stock/0QO2

Frequently asked questions

Is Burkhalter Holding (0QO2) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £174.40 versus a price of £122.20, about +43% upside (undervalued).
What is the fair value of 0QO2?
Our model-based fair value for Burkhalter Holding is £174.40 (as of Sep 24, 2026), built from audited fundamentals. The current price: £122.20.
What is the quality score of 0QO2?
Burkhalter Holding has a Quality Score of 69/100. 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 Burkhalter Holding (0QO2)?
Our model-based price target is the fair value of £174.40 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario £130.80, optimistic scenario £226.09. It is a calculation from audited fundamentals, not an analyst target.
What is the Burkhalter Holding stock forecast for 2026?
Our models put fair value at £174.40, about +43% upside versus a price of £122.20 (undervalued). Cautious scenario £130.80, optimistic scenario £226.09. The calculation is refreshed regularly with new filings.
What is the revenue of Burkhalter Holding (0QO2)?
Burkhalter Holding reported trailing-twelve-month revenue of about £1.2B (latest available figure, as of Sep 24, 2026).
Does Burkhalter Holding pay a dividend?
Burkhalter Holding currently shows a dividend yield of about 4.26% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Burkhalter Holding (0QO2)?
For today's price to be fair in a discounted-cash-flow model, Burkhalter Holding would have to grow free cash flow by +2.0 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0QO2 use?
Our models discount Burkhalter Holding at 10.3 %: a base by market capitalisation (small), damped by beta 0.49, country premium for United Kingdom. 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 Burkhalter Holding that is +2.0 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Burkhalter Holding (0QO2) delivered so far?
Over the past 5 years revenue at Burkhalter Holding grew +19.0 % a year. The price currently implies +2.0 % 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 Burkhalter Holding (0QO2) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Burkhalter Holding (+2.0 % 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 Burkhalter Holding (0QO2)?
The free-cash-flow yield on the price is 7.77 %: that much free cash flow Burkhalter Holding produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Burkhalter Holding (0QO2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Burkhalter Holding it is £174.40 per share (as of Sep 24, 2026), against a price of £122.20. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Burkhalter Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0QO2 trades below its calculated fair value: price £122.20, fair value £174.40, a gap of about +43% (undervalued). 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 0QO2?
No. The price is what the market pays today (£122.20); the fair value is what the company's own numbers justify (£174.40). For Burkhalter Holding the two are £52.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Burkhalter Holding worth?
The market values Burkhalter Holding at about £1.3B (market capitalisation, as of Sep 24, 2026). Per share that is £122.20; our models calculate a fair value of £174.40 per share.
What do the bullish and bearish scenarios say about 0QO2?
Our models span a range for Burkhalter Holding: cautious scenario £130.80, base £174.40, optimistic £226.09 per share (as of Sep 24, 2026, price £122.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0QO2 from its 52-week high?
Burkhalter Holding trades at £122.20, about 36% below its 52-week high of £190.97 and 3% above the low of £118.56 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of £174.40 is for.
Which stocks are comparable to Burkhalter Holding?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Burkhalter Holding stock attractive at the current price?
The data as of Sep 24, 2026: price £122.20, calculated fair value £174.40 (+43%), Quality Score 69/100, from 26 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 0QO2 calculated?
We run Burkhalter Holding through 26 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 £174.40, 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 14.5 % above its aggregate fair value. Burkhalter Holding currently trades 30 % below its own fair value, and the market average says nothing about that. 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 Burkhalter Holding (0QO2)?
The closing price on Oct 2, 2026 was £122.20. Our model-based fair value is £174.40, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Burkhalter Holding right now?
The price is below even our cautious bear case (£130.80). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Burkhalter Holding (0QO2) come from?
Earnings per share at Burkhalter Holding grew −0.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.7 %, EBIT margin −1.7 %, tax rate +0.1 %, residual (interest, one-offs) −1.8 %. 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 Burkhalter Holding

How large is the market capitalisation of Burkhalter Holding (0QO2)?
The market capitalisation of Burkhalter Holding is £1.3B. 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/E ratio of Burkhalter Holding (0QO2)?
The price-to-earnings ratio of Burkhalter Holding is 0.3 (as of Jul 30, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Burkhalter Holding (0QO2)?
The price-to-sales ratio of Burkhalter Holding is 0.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Burkhalter Holding (0QO2)?
Earnings per share at Burkhalter Holding are £3.99 (price ÷ EPS = P/E 0.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Burkhalter Holding (0QO2)?
The dividend yield of Burkhalter Holding is 4.3% (payout 130%). 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 Burkhalter Holding (0QO2)?
The net margin of Burkhalter Holding is 5.1% (fiscal year 2025). 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 Burkhalter Holding (0QO2)?
The return on equity (ROE) of Burkhalter Holding is 44.7% (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 Burkhalter Holding (0QO2)?
On an EBIT basis the return on assets of Burkhalter Holding is 12.3% (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 Burkhalter Holding (0QO2)?
The operating margin of Burkhalter Holding is 6.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Burkhalter Holding (0QO2)?
Revenue at Burkhalter Holding is growing +2.0% versus a year earlier (3y avg +16.6%). 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 Burkhalter Holding (0QO2)?
Earnings per share at Burkhalter Holding are growing +9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Burkhalter Holding (0QO2) hold?
Burkhalter Holding holds more cash than debt, £51.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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