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Cicor Technologies Ltd (CICN) Fair Value & Analysis

Technology · CH · Market cap CHF 508M

CT Cicor Technologies Ltd CICN · SW
PriceCHF 127.60
Fair ValueCHF 77.51
Upside-39.3%
Quality44/100
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Healthy Growth
Thin margins · 2.7% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 40/100
Evidence: High Range CHF 58.14 – CHF 96.89 Share as image

Fair value as of: Jul 13, 2026

From 24 valuation models · updated 28 days ago

Share price +13.7% over the past month.

Below-average quality, and screening another 39% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (CHF 96.89). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

CHF 221.00 CHF 40.60 Fair Value CHF 77.51 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range CHF 40.60 – CHF 221.00 · fair‑value band CHF 58.14 – CHF 96.89 · the CHF 127.60 price screens above the CHF 77.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Cicor Technologies Ltd (CICN) currently trades at CHF 127.60, while our model-based Fair Value estimate is CHF 77.51, implying the stock looks roughly 39.3% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Cicor Technologies Ltd generated revenue of CHF 616M at a net margin of 2.7%. Revenue grew 34.6% year over year. It earns a return on equity of 11.8%. Net debt stands at CHF 70.5M. Fundamentals as of Jul 13, 2026

Our scenario range runs from CHF 58.14 (bear case) to CHF 96.89 (bull case); at CHF 127.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 44% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -39%, CICN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF CHF 114.28 CHF 189.89 CHF 300.32 80
Residual Income CHF 29.46 CHF 32.67 CHF 46.78 76
Rev-Margin DCF CHF 76.61 CHF 127.07 CHF 193.49 74
All 24 models by family
DCF Models
FCF DCF CHF 116.69 CHF 204.06 CHF 340.78 38
Owner Earnings CHF 63.77 CHF 113.70 CHF 191.83 31
5Y Revenue Exit CHF 76.61 CHF 127.18 CHF 194.03 39
5Y EBITDA Exit CHF 108.36 CHF 193.62 CHF 300.63 41
5Y P/E Exit CHF 72.17 CHF 117.88 CHF 169.05 38
10Y Revenue Exit CHF 88.68 CHF 139.74 CHF 215.19 36
10Y EBITDA Exit CHF 109.85 CHF 184.61 CHF 297.90 37
10Y P/E Exit CHF 87.76 CHF 133.46 CHF 195.81 35
Earnings-Based
Graham-Dodd CHF 26.35 CHF 129.15 CHF 178.01 54
Lynch FV CHF 34.70 CHF 49.57 CHF 64.44 50
PEG = 1.0 CHF 34.70 CHF 49.57 CHF 64.44 46
EPV CHF 37.70 CHF 43.77 CHF 48.83 59
Multiples
P/E Multiple CHF 58.14 CHF 77.51 CHF 96.89 63
P/S Multiple CHF 49.41 CHF 65.89 CHF 82.36 58
P/B Multiple CHF 49.41 CHF 65.89 CHF 82.36 55
EV/EBIT CHF 84.28 CHF 114.65 CHF 145.01 53
EV/EBITDA CHF 113.67 CHF 153.83 CHF 193.98 54
EV/Revenue CHF 54.59 CHF 80.91 CHF 107.22 43
Asset-Based
NCAV (Graham) CHF 17.26 CHF 23.13 CHF 34.53 50
Growth DCF
Growth DCF CHF 114.28 CHF 189.89 CHF 300.32 80
Rev-Margin DCF CHF 76.61 CHF 127.07 CHF 193.49 74
Economic Profit
Residual Income CHF 29.46 CHF 32.67 CHF 46.78 76
ROIC Compounder CHF 39.09 CHF 51.62 CHF 67.22 72
Growth Earnings
Growth-Adj P/E CHF 52.24 CHF 74.63 CHF 97.02 68

Widest divergence: DCF Models (CHF 133.46) versus Asset-Based (CHF 23.13). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 616M
Revenue growth (YoY) +34.6%
Net margin 2.7%
Return on equity 11.8%
Free cash flow CHF 49.9M FY2025
P/E ratio 42.4
More key figures
Operating margin 4.9%
EPS (TTM) CHF 3.73
EPS growth (YoY) -45.4%
Net debt CHF 70.5M FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 47 · Market factors (momentum, volatility) 26

Profitability 43
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 42
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Cicor Technologies Ltd., together with its subsidiaries, develops, and manufactures electronic components, devices, and systems internationally. The company operates in two segments: Electronic Manufacturing Services (EMS) and Advanced Substrates (AS).

Full company description

Cicor Technologies Ltd., together with its subsidiaries, develops, and manufactures electronic components, devices, and systems internationally. The company operates in two segments: Electronic Manufacturing Services (EMS) and Advanced Substrates (AS). It offers engineering services, such as test engineering, product, test development, and process engineering services; electronic manufacturing services, including printed circuit board (PCB) assembly, cable assembly, box building, and microelectronic assembly; precision plastics, such as tool design and fabrication, plastic injection molding, and 3D-MID technology; hybrid circuits that include thin-film and thick-film substrates; PCBs comprises flexible, rigid-flexible, rigid, and DenciTec PCBs; AC/DC and DC/DC power solutions; and printed electronics. The company also provides porototyping shops; and outsourcing solutions for the development and manufacture of electronic assemblies, as well as complete devices and systems. It serves industrial, health care, aerospace and defense, wearables, and building technologies markets. The company was formerly known as Cicorel Holding SA and changed its name to Cicor Technologies Ltd. in 2005. Cicor Technologies Ltd. was founded in 1966 and is based in Bronschhofen, Switzerland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cicor Technologies Ltd reported revenue of CHF 616M in FY2025 versus CHF 239M in FY2021, a compound +26.7%/yr. Reported net income was CHF 16.9M in FY2025, compounding +22.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 616M
Latest YoY
+28.2%
Avg. growth/yr (3Y)
+25.3%
Avg. growth/yr (5Y)
+23.5%
Avg. growth/yr (22Y)
+16.0%
Revenue +26.7%/yr
FY21 CHF 239M
FY22 CHF 313M
FY23 CHF 390M
FY24 CHF 481M
FY25 CHF 616M
Net income +22.6%/yr
FY21 CHF 7.5M
FY22 CHF 3.8M
FY23 CHF 6.1M
FY24 CHF 27.3M
FY25 CHF 16.9M

CICN screens 39% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Cicor Technologies Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CICN

Peer Group

Electronic Components · 626 stocks

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.

Quality Score 44 · Below median
Fair Value upside −39% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 35% · Top 25%
Debt / equity 0.86× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 31.3× · Cheaper than median
P/B 4.17× · Pricier than median
P/S (TTM) 1.02× · Cheaper than median
P/FCF 12.6× · Pricier than 75% of peers
EV/EBITDA 11.7× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 32
PAST 47 · sector 24
HEALTH 57 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Cicor Technologies Ltd (CICN) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of CHF 77.51 versus a price of CHF 127.60, about −39% (overvalued).
What is the fair value of CICN?
Our model-based fair value for Cicor Technologies Ltd is CHF 77.51 (as of Jul 13, 2026), built from audited fundamentals. The current price is CHF 127.60.
What is the quality score of CICN?
Cicor Technologies Ltd has a Quality Score of 44/100. 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 revenue of Cicor Technologies Ltd (CICN)?
Cicor Technologies Ltd reported trailing-twelve-month revenue of about CHF 616M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of CICN?
The net profit margin of Cicor Technologies Ltd is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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