Ascom Holding AG (ASCN) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Ascom Holding AG stock CHF 9.90, price CHF 5.65, upside +75.2%, quality 78 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range CHF 2.70 – CHF 14.43 · fair‑value band CHF 7.57 – CHF 12.56 · the CHF 5.65 price screens below the CHF 9.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.
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Ascom Holding AG, together with its subsidiaries, provides healthcare ICT and mobile workflow solutions in Switzerland and internationally.
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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 AG (ASCN) currently trades at CHF 5.65, while our model-based Fair Value estimate is CHF 9.90, implying the stock looks roughly 43% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of CHF 9.69 per share, and 17 of the 24 models we run sit above the CHF 5.65 price.
Bear case: the Economic Profit group reads lowest at CHF 4.06, and 7 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 7.57 (bear) to CHF 12.56 (bull), the price of CHF 5.65 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 78/100 (high quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Ascom Holding AG reported revenue of CHF 292M in FY2025 versus CHF 292M in FY2021, a compound +0.1%/yr. Reported net income was CHF 15.1M in FY2025, compounding +2.8%/yr from FY2021.
Key figures
Market cap CHF 203M Micro · P/E ratio 10.9 · P/S ratio 0.70 · EPS (TTM) CHF 0.5200 · Dividend yield 3.5% · Net margin 6.3% · Return on equity 25.7% · Return on assets (EBIT) 7.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 74% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 3% fair-value upside, at 75%, ASCN screens cheaper than that median.
Fair Value models
BearCHF 7.57Fair Value CHF 9.90BullCHF 12.56
Price CHF 5.65 · Upside +75.2%
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 0.2744 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
+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.
≈ +22.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +18.6%
Dividend (yield on the price)3.5%
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.base effect: 18.6% / −7.2%
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%
⚠ 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.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.18 per share, median 0.64 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
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).
−9.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −9.6% a year for the price and +1.6% for the forecasts.
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.Health Information Services · 117 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside+75.2% · Top 25%
Profitability
Return on equity (12 months)25.7% · Top 25%
Return on assets7.6% · Top 25%
Net margin (12 months)6.3% · Above median
Operating margin (12 months)5.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)−0.1% · Below median
Dividend yield (12 months)3.5% · Above median
Valuation Multiplesvs Health Information Services median · lower = cheaper
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). "Ascom Holding AG Fair Value". https://www.fairvalue-calculator.com/stock/ASCN
Frequently asked questions
Is Ascom Holding AG (ASCN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of CHF 9.90 versus a price of CHF 5.65, about +75% upside (undervalued).
What is the fair value of ASCN?
Our model-based fair value for Ascom Holding AG is CHF 9.90 (as of Nov 9, 2026), built from audited fundamentals. The current price: CHF 5.65.
What is the quality score of ASCN?
Ascom Holding AG has a Quality Score of 78/100. 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 AG (ASCN)?
Our model-based price target is the fair value of CHF 9.90 (as of Nov 9, 2026) from 24 valuation models. Cautious scenario CHF 7.57, optimistic scenario CHF 12.56. It is a calculation from audited fundamentals, not an analyst target.
What is the Ascom Holding AG stock forecast for 2026?
Our models put fair value at CHF 9.90, about +75% upside versus a price of CHF 5.65 (undervalued). Cautious scenario CHF 7.57, optimistic scenario CHF 12.56. The calculation is refreshed regularly with new filings.
What is the revenue of Ascom Holding AG (ASCN)?
Ascom Holding AG reported trailing-twelve-month revenue of about CHF 292M (latest available figure, as of Nov 9, 2026).
Does Ascom Holding AG pay a dividend?
Ascom Holding AG currently shows a dividend yield of 3.54% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Ascom Holding AG (ASCN) and when is the ex-dividend date?
Ascom Holding AG pays a dividend of CHF 0.2 per share a year, a dividend yield of 3.5%. The last ex-dividend date was Apr 24, 2026. A dividend has been paid every year since 2022. The payout ratio is 38.5% of earnings. Free cash flow covers the dividend 4.80 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Ascom Holding AG (ASCN)?
For today's price to be fair in a discounted-cash-flow model, Ascom Holding AG would have to grow free cash flow by -9.1 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of ASCN use?
Our models discount Ascom Holding AG at 12.5 %: a base by market capitalisation (micro), damped by beta 1.00, 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 Ascom Holding AG that is -9.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has Ascom Holding AG (ASCN) delivered so far?
Over the past 5 years revenue at Ascom Holding AG grew +0.8 % a year. The price currently implies free-cash-flow growth of -9.1 % per 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 AG (ASCN) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Ascom Holding AG (-9.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ascom Holding AG (ASCN)?
The free-cash-flow yield on the price is 15.54 %: that much free cash flow Ascom Holding AG produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ascom Holding AG (ASCN)?
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 AG it is CHF 9.90 per share (as of Nov 9, 2026), against a price of CHF 5.65. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Ascom Holding AG stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ASCN trades below its calculated fair value: price CHF 5.65, fair value CHF 9.90, a gap of about +75% (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 ASCN?
No. The price is what the market pays today (CHF 5.65); the fair value is what the company's own numbers justify (CHF 9.90). For Ascom Holding AG the two are CHF 4.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ascom Holding AG worth?
The market values Ascom Holding AG at about CHF 203M (market capitalisation, as of Nov 9, 2026). Per share that is CHF 5.65; our models calculate a fair value of CHF 9.90 per share.
What do the bullish and bearish scenarios say about ASCN?
Our models span a range for Ascom Holding AG: cautious scenario CHF 7.57, base CHF 9.90, optimistic CHF 12.56 per share (as of Nov 9, 2026, price CHF 5.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASCN?
Ascom Holding AG trades at a price-to-earnings ratio of 10.9 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 9.90 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 31.6. Other multiples: PEG 1.4, P/B 2.6, P/S 0.7, EV/EBITDA 7.1.
What is the PEG ratio of ASCN?
The PEG ratio of Ascom Holding AG is 1.45 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ascom Holding AG (ASCN)?
Balance-sheet figures for Ascom Holding AG (as of Nov 9, 2026): return on equity 25.7%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is ASCN from its 52-week high?
Ascom Holding AG trades at CHF 5.65, about 15% below its 52-week high of CHF 6.68 and 74% above the low of CHF 3.24 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 9.90 is for.
Which stocks are comparable to Ascom Holding AG?
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 AG stock attractive at the current price?
The data as of Nov 9, 2026: price CHF 5.65, calculated fair value CHF 9.90 (+75%), Quality Score 78/100, 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 ASCN calculated?
We run Ascom Holding AG through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 9.90 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Ascom Holding AG currently trades 43% 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 AG (ASCN)?
The closing price on Nov 9, 2026 was CHF 5.65. Our model-based fair value is CHF 9.90, about +75% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ascom Holding AG right now?
The rarer combination: high quality (78/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (CHF 7.57). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Ascom Holding AG (ASCN) come from?
Earnings per share at Ascom Holding AG grew −9.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share −4.1 %, EBIT margin −5.0 %, tax rate +0.6 %, residual (interest, one-offs) −1.6 %. 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 AG
How large is the market capitalisation of Ascom Holding AG (ASCN)?
The market capitalisation of Ascom Holding AG is CHF 203M. 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 Ascom Holding AG (ASCN)?
The price-to-sales ratio of Ascom Holding AG is 0.70 (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 Ascom Holding AG (ASCN)?
Earnings per share at Ascom Holding AG are CHF 0.5200 (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ascom Holding AG (ASCN)?
The dividend yield of Ascom Holding AG is 3.5% (payout 38.5%). 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 AG (ASCN)?
The net margin of Ascom Holding AG is 6.3% (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 Ascom Holding AG (ASCN)?
The return on equity (ROE) of Ascom Holding AG is 25.7% (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 Ascom Holding AG (ASCN)?
On an EBIT basis the return on assets of Ascom Holding AG is 7.9% (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 AG (ASCN)?
The operating margin of Ascom Holding AG is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ascom Holding AG (ASCN)?
Revenue at Ascom Holding AG is growing −0.1% 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 AG (ASCN)?
Earnings per share at Ascom Holding AG are growing +167% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Ascom Holding AG (ASCN) hold?
Ascom Holding AG holds more cash than debt, CHF 29.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 9, 2026