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Ascom Holding (0QON) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Ascom Holding £7.89, price £5.85, upside +34.9%, quality 79 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Ascom Holding
0QON · LSEUndervalued, solidFair Value upside is positive and quality is strong.
✓Fair value £7.89 · Undervalued (+34.9%)
✓Quality 79/100
!Weak Growth (revenue 5y +0.8 %/yr)
!Thin margins · 5.2% net margin (TTM)
✓Low debt · generates free cash flow
✓3.4% dividend yield · Well covered
!Moderate moat 53/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
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 £2.91 – £16.57 · fair‑value band £6.34 – £9.93 · the £5.85 price screens below the £7.89 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions in Switzerland and internationally. The company offers nurse call and monitoring systems, including teleCARE IP that provides wireless nurse call, alerts, messaging, monitoring, and wander management solution; and Telligence, a patient response system.
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Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions in Switzerland and internationally. The company offers nurse call and monitoring systems, including teleCARE IP that provides wireless nurse call, alerts, messaging, monitoring, and wander management solution; and Telligence, a patient response system. It also provides Digistat, a suite of clinical workflow software; SmartSense software that enables activity monitoring solutions to offer discreet monitoring with a range of sensors to create personal resident profiles; DURAsuite, an end-to-end duress and messaging management solution to protect staff and clients; Unite software, a workflow orchestration platform that integrates data and events from source systems, as well as offers alerts, chats, and tasks to enable users on various endpoint platforms; and Ofelia for managing tasks and workflows. In addition, the company offers mobile devices, such as smartphones, DECT and VoWiFi phones, and pagers solutions. Further, it provides consulting, implementation, training, support, and maintenance services. Additionally, the company provides hospitals and acute care, enterprise, long-term care, and SaaS solutions. Ascom Holding AG was incorporated in 1996 and is headquartered in Baar, Switzerland.
Stock analysis
Ascom Holding (0QON) currently trades at £5.85, while our model-based Fair Value estimate is £7.89, implying the stock looks roughly 25.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of £8.14 per share, and 17 of the 24 models we run sit above the £5.85 price.
Bear case: the Asset-Based group reads lowest at £1.49, and 7 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: £6.34 (bear) to £9.93 (bull), the price of £5.85 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 79/100 (high quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Ascom Holding reported revenue of £292M in FY2025 versus £292M in FY2021, a compound +0.1%/yr. Reported net income was £15.1M in FY2025, compounding +2.8%/yr from FY2021.
Key figures
Market cap £210M · P/E ratio 0.1 · EPS (TTM) £0.3700 · Dividend yield 3.4% · Net margin 5.2% · Return on equity 19.6% · Return on assets (EBIT) 7.8% · Operating margin 10.1%.
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 11% below its 52-week high and 71% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at 35%, 0QON screens cheaper than that median.
Fair Value models
Bear £6.34
Fair Value £7.89
Bull £9.93
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (£0.1285 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.
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
£6.83
£8.52
£11.25
82
Growth DCF
£6.99
£8.58
£10.95
80
Owner Earnings
£6.12
£7.64
£10.07
78
All 24 models by family
DCF Models
FCF DCF
£6.83
£8.52
£11.25
82
Owner Earnings
£6.12
£7.64
£10.07
78
5Y Revenue Exit
£5.86
£7.86
£10.75
73
5Y EBITDA Exit
£7.89
£11.36
£15.96
75
5Y P/E Exit
£6.51
£8.99
£11.95
71
10Y Revenue Exit
£6.19
£7.55
£8.95
68
10Y EBITDA Exit
£7.34
£9.40
£11.56
70
10Y P/E Exit
£6.63
£8.14
£9.55
65
Earnings-Based
Graham-Dodd
£2.85
£3.49
£3.92
67
EPV
£3.77
£4.18
£4.52
74
Dividend Discount
Gordon GGM
£0.7000
£0.7400
£0.8100
69
DDM Multi-Stage
£0.7000
£0.8100
£0.9400
67
Multiples
P/E Multiple
£6.92
£9.23
£11.53
63
P/S Multiple
£5.35
£7.13
£8.91
58
P/B Multiple
£5.35
£7.13
£8.91
55
EV/EBIT
£7.45
£9.83
£12.22
66
EV/EBITDA
£10.27
£13.59
£16.92
67
EV/Revenue
£5.40
£7.59
£9.78
54
Asset-Based
NCAV (Graham)
£1.11
£1.49
£2.22
54
Growth DCF
Growth DCF
£6.99
£8.58
£10.95
80
Rev-Margin DCF
£5.86
£8.04
£10.77
73
Economic Profit
Residual Income
£2.20
£2.62
£3.27
76
ROIC Compounder
£3.77
£4.28
£4.75
72
Growth Earnings
Growth-Adj P/E
£4.88
£6.97
£9.06
67
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Set up alert →Quality Score breakdown
Overall quality
79/100
Of which business quality 77 · Market factors (momentum, volatility) 66
Profitability
70
Margins and returns on capital today
Quality Growth
62
Are margins and returns improving?
Cashflow
75
Earnings quality: real cash, not paper profit
Fin. Strength
78
Balance sheet, leverage, solvency risk
Investment
95
Disciplined investing over empire-building
Low Volatility
50
Calm price path (market factor)
Momentum
63
Price trend over the last 3–12 months (market factor)
52W Momentum
89
Distance to the 52-week high (market factor)
Net Issuance
89
Share count: buybacks or dilution?
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.
40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.9%
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.
−0.6%
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.
+0.8%
Start year 2020 (pandemic). Over 10 years: −3.4% a year
Revenue growth 22 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%
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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.
+22.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.6%
Dividend (yield on the price)3.4%
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.18.6% vs −7.0%, 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.4% → 7%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 4.1%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−4.9%
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.
+2.2%
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 −7.1% a year for the price and −0.1% for the forecasts.
Forecast 2026 (sales)+1.5%
Forecast 2027 (sales)+2.5%
Projected 2028 (sales)+2.4%
Projected 2029 (sales)+2.3%
Projected 2030 (sales)+2.3%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK 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
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate.
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|---|---|---|---|
| Veeva Systems Inc VEEV | $278.57 | $306.43 | +10% |
| Pro Medicus Limited PME | A$161.00 | A$84.62 | −47% |
| BrightSpring Health Services, Inc BTSG | $56.54 | $25.86 | −54% |
| Hinge Health, Inc HNGE | $95.57 | $51.25 | −46% |
| HealthEquity, Inc HQY | $88.44 | $97.28 | +10% |
| Waystar Holding WAY | $24.70 | $27.17 | +10% |
| Doximity, Inc DOCS | $26.35 | $31.41 | +19% |
| XtalPi Holdings 2228 | HK$7.75 | HK$1.50 | −81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,779 | ₹1,883 | +6% |
| Privia Health Group PRVA | $19.62 | $5.02 | −74% |
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Frequently asked questions
Is Ascom Holding (0QON) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £7.89 versus a price of £5.85, about +35% upside (undervalued).
What is the fair value of 0QON?
Our model-based fair value for Ascom Holding is £7.89 (as of Sep 24, 2026), built from audited fundamentals. The current price: £5.85.
What is the quality score of 0QON?
Ascom Holding has a Quality Score of 79/100. 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 Ascom Holding (0QON)?
Our model-based price target is the fair value of £7.89 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario £6.34, optimistic scenario £9.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Ascom Holding stock forecast for 2026?
Our models put fair value at £7.89, about +35% upside versus a price of £5.85 (undervalued). Cautious scenario £6.34, optimistic scenario £9.93. The calculation is refreshed regularly with new filings.
What is the revenue of Ascom Holding (0QON)?
Ascom Holding reported trailing-twelve-month revenue of about £292M (latest available figure, as of Sep 24, 2026).
Does Ascom Holding pay a dividend?
Ascom Holding currently shows a dividend yield of about 3.42% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ascom Holding (0QON)?
For today's price to be fair in a discounted-cash-flow model, Ascom Holding would have to grow free cash flow by -4.9 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0QON use?
Our models discount Ascom Holding at 13.4 %: a base by market capitalisation (micro), damped by beta 1.04, 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 Ascom Holding that is -4.9 % per year a year over ten years, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has Ascom Holding (0QON) delivered so far?
Over the past 5 years revenue at Ascom Holding grew +0.8 % a year. The price currently implies -4.9 % 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 Ascom Holding (0QON) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Ascom Holding (-4.9 % 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 Ascom Holding (0QON)?
The free-cash-flow yield on the price is 15.06 %: that much free cash flow Ascom Holding produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ascom Holding (0QON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ascom Holding it is £7.89 per share (as of Sep 24, 2026), against a price of £5.85. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ascom Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0QON trades below its calculated fair value: price £5.85, fair value £7.89, a gap of about +35% (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 0QON?
No. The price is what the market pays today (£5.85); the fair value is what the company's own numbers justify (£7.89). For Ascom Holding the two are £2.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ascom Holding worth?
The market values Ascom Holding at about £210M (market capitalisation, as of Sep 24, 2026). Per share that is £5.85; our models calculate a fair value of £7.89 per share.
What do the bullish and bearish scenarios say about 0QON?
Our models span a range for Ascom Holding: cautious scenario £6.34, base £7.89, optimistic £9.93 per share (as of Sep 24, 2026, price £5.85). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0QON from its 52-week high?
Ascom Holding trades at £5.85, about 11% below its 52-week high of £6.58 and 71% above the low of £3.41 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of £7.89 is for.
Which stocks are comparable to Ascom Holding?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, 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 Ascom Holding stock attractive at the current price?
The data as of Sep 24, 2026: price £5.85, calculated fair value £7.89 (+35%), Quality Score 79/100, 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 0QON calculated?
We run Ascom Holding 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 £7.89, 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. Ascom Holding currently trades 26 % 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 Ascom Holding (0QON)?
The closing price on Oct 2, 2026 was £5.85. Our model-based fair value is £7.89, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ascom Holding right now?
The rarer combination: high quality (79/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (£6.34). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Ascom Holding (0QON) come from?
Earnings per share at Ascom Holding grew −9.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −4.1 %, EBIT margin −5.1 %, tax rate +0.7 %, residual (interest, one-offs) −1.4 %. 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 Ascom Holding
How large is the market capitalisation of Ascom Holding (0QON)?
The market capitalisation of Ascom Holding is £210M. 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 Ascom Holding (0QON)?
The price-to-earnings ratio of Ascom Holding is 0.1 (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 are the earnings per share of Ascom Holding (0QON)?
Earnings per share at Ascom Holding are £0.3700 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ascom Holding (0QON)?
The dividend yield of Ascom Holding is 3.4% (payout 54.1%). 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 Ascom Holding (0QON)?
The net margin of Ascom Holding is 5.2% (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 Ascom Holding (0QON)?
The return on equity (ROE) of Ascom Holding is 19.6% (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 Ascom Holding (0QON)?
On an EBIT basis the return on assets of Ascom Holding is 7.8% (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 Ascom Holding (0QON)?
The operating margin of Ascom Holding is 10.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ascom Holding (0QON)?
Revenue at Ascom Holding is growing +5.2% versus a year earlier (3y avg −0.6%). 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 Ascom Holding (0QON)?
Earnings per share at Ascom Holding are growing +17.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Ascom Holding (0QON) hold?
Ascom Holding holds more cash than debt, £29.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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