Coltene Holding AG (CLTN) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Coltene Holding AG stock CHF 38.56, price CHF 48.45, that is 20.4% below the price, quality 62 out of 100. Rating: overvalued. 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 11, 2026.
How to read this chart
60‑month range CHF 42.77 – CHF 113.66 · fair‑value band CHF 26.25 – CHF 54.02 · the CHF 48.45 price screens above the CHF 38.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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COLTENE Holding AG develops, manufactures, and sells disposables, tools, and equipment for dentists and dental laboratories in Europe, the Middle East, Africa, North America, Latin America, and Asia/Oceania.
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The company offers restoration products, including conventional composites, bulk-fill composites, CAD/CAM solutions, core build-ups, bondings, etching gels, temporary materials, luting, curing lights, characterizations, and parapulpal pins; and endodontics products, such as cold sprays, hand files, shaping and retreatment files, endo motors, rinsing and disinfection system, drying, temporary fillings, sealers, guttapercha points, and posts and drills.
It also provides prosthetics comprising bite registration, retractions, A-silicones, C-silicones, and accessories; and treatment auxiliaries consist of dental rolls and dispensers, cotton pellets and dispensers, aspirator tips, dental dams, dental dam clamps and accessories, dental scalers, electrosurgery, and occlusion verification products.
In addition, the company offers infection control products, which include ultrasonic cleaning solutions, patient bibs, instrument reprocessing, and surface disinfectants; rotary instruments that comprise diamond and carbide burs, polishers, kits, and accessories; and laboratory products, including gingiva masks, lab putty products, model making products, waxes, occlusion control products, and accessories.
Further, it provides adhesives, root canal instruments, irrigation solutions, and materials for root canal obturation and sealing; impression materials, wound care and cotton wool products, suction cannulas, rotary instruments, and rubber dams for isolating the treatment area; and thermal disinfectors, washers, cleaning and disinfecting wipes, and autoclaves.
The company was formerly known as Medisize Holding AG and changed its name to COLTENE Holding AG in April 2008. COLTENE Holding AG was incorporated in 2005 and is headquartered in Altstätten, Switzerland.
Stock analysis
Coltene Holding AG (CLTN) currently trades at CHF 48.45, while our model-based Fair Value estimate is CHF 38.56, 20% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 54.45 per share, and 5 of the 24 models we run sit above the CHF 48.45 price.
Bear case: the Asset-Based group reads lowest at CHF 7.13, and 19 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 26.25 (bear) to CHF 54.02 (bull), the price of CHF 48.45 sits inside 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 62/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Coltene Holding AG reported revenue of CHF 240M in FY2025 versus CHF 279M in FY2021, a compound −3.7%/yr. Reported net income was CHF 14.9M in FY2025, compounding −17.1%/yr from FY2021.
Key figures
Market cap CHF 290M Small · P/E ratio 19.6 · P/S ratio 1.23 · EPS (TTM) CHF 2.47 · Dividend yield 0.6% · Net margin 6.3% · Return on equity 16.0% · Return on assets (EBIT) 15.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −43% fair-value upside, at −20%, CLTN screens cheaper than that median.
Fair Value models
BearCHF 26.25Fair Value CHF 38.56BullCHF 54.02
Price CHF 48.45 · Downside -20.4%
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 1.90 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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−4.0%
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.
−3.5%
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.
−0.7%
Start year 2020 (pandemic). Over 10 years: +4.5% a year
Revenue growth 21 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.
+0.4%
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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.
−5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.7%
Dividend (yield on the price)0.6%
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.−5.7% vs −3.9%, steady
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.9% → 9%
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).
+21.9%
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.
+1.1%
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 +21.1% a year for the price and +0.5% 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.Medical Instruments & Supplies · 196 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−20.4% · Below median
Profitability
Return on equity (12 months)16.0% · Top 25%
Return on assets8.1% · Above median
Net margin (12 months)6.3% · Below median
Operating margin (12 months)5.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−4.4% · Bottom 25%
Dividend yield (12 months)0.6% · Bottom 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (12 months)19.6× · Cheaper than median
P/B2.88× · Pricier than median
P/S (12 months)1.23× · Cheapest 25%
Price / free cash flow (fiscal year)31.6× · Pricier than median
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). "Coltene Holding AG Fair Value". https://www.fairvalue-calculator.com/stock/CLTN
Frequently asked questions
Is Coltene Holding AG (CLTN) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of CHF 38.56 versus a price of CHF 48.45, about 20% lower (overvalued).
What is the fair value of CLTN?
Our model-based fair value for Coltene Holding AG is CHF 38.56 (as of Nov 11, 2026), built from audited fundamentals. The current price: CHF 48.45.
What is the quality score of CLTN?
Coltene Holding AG has a Quality Score of 62/100. 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 Coltene Holding AG (CLTN)?
Our model-based price target is the fair value of CHF 38.56 (as of Nov 11, 2026) from 24 valuation models. Cautious scenario CHF 26.25, optimistic scenario CHF 54.02. It is a calculation from audited fundamentals, not an analyst target.
What is the Coltene Holding AG stock forecast for 2026?
Our models put fair value at CHF 38.56, about 20% lower versus a price of CHF 48.45 (overvalued). Cautious scenario CHF 26.25, optimistic scenario CHF 54.02. The calculation is refreshed regularly with new filings.
What is the revenue of Coltene Holding AG (CLTN)?
Coltene Holding AG reported trailing-twelve-month revenue of about CHF 235M (latest available figure, as of Nov 11, 2026).
Does Coltene Holding AG pay a dividend?
Coltene Holding AG currently shows a dividend yield of 0.58% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Coltene Holding AG (CLTN) and when is the ex-dividend date?
Coltene Holding AG pays a dividend of CHF 0.28 per share a year, a dividend yield of 0.6%. The last ex-dividend date was Apr 23, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 11.3% of earnings. Free cash flow covers the dividend 5.48 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 Coltene Holding AG (CLTN)?
For today's price to be fair in a discounted-cash-flow model, Coltene Holding AG would have to grow free cash flow by +21.9 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.7 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of CLTN use?
Our models discount Coltene Holding AG at 10.5 %: a base by market capitalisation (small), damped by beta 0.81, 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 Coltene Holding AG that is +21.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Coltene Holding AG (CLTN) delivered so far?
Over the past 5 years revenue at Coltene Holding AG grew -0.7 % a year. The price currently implies free-cash-flow growth of +21.9 % 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 Coltene Holding AG (CLTN) growing?
The median revenue growth in the sector is +5.9 % a year. That is the yardstick for the growth priced into Coltene Holding AG (+21.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Coltene Holding AG (CLTN)?
The free-cash-flow yield on the price is 3.17 %: that much free cash flow Coltene Holding AG produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Coltene Holding AG (CLTN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coltene Holding AG it is CHF 38.56 per share (as of Nov 11, 2026), against a price of CHF 48.45. 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 Coltene Holding AG stock overvalued or undervalued in 2026?
As of Nov 11, 2026, CLTN trades above its calculated fair value: price CHF 48.45, fair value CHF 38.56, a gap of about −20% (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 CLTN?
No. The price is what the market pays today (CHF 48.45); the fair value is what the company's own numbers justify (CHF 38.56). For Coltene Holding AG the two are CHF 9.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Coltene Holding AG worth?
The market values Coltene Holding AG at about CHF 290M (market capitalisation, as of Nov 11, 2026). Per share that is CHF 48.45; our models calculate a fair value of CHF 38.56 per share.
What do the bullish and bearish scenarios say about CLTN?
Our models span a range for Coltene Holding AG: cautious scenario CHF 26.25, base CHF 38.56, optimistic CHF 54.02 per share (as of Nov 11, 2026, price CHF 48.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CLTN?
Coltene Holding AG trades at a price-to-earnings ratio of 19.6 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 38.56 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 24.0. Other multiples: PEG 4.3, P/B 2.9, P/S 1.2, EV/EBITDA 10.7.
What is the PEG ratio of CLTN?
The PEG ratio of Coltene Holding AG is 4.34 (P/E divided by earnings growth, as of Nov 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Coltene Holding AG (CLTN)?
Balance-sheet figures for Coltene Holding AG (as of Nov 11, 2026): return on equity 16.0%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is CLTN from its 52-week high?
Coltene Holding AG trades at CHF 48.45, about 16% below its 52-week high of CHF 57.88 and 8% above the low of CHF 45.00 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 38.56 is for.
Which stocks are comparable to Coltene Holding AG?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline 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 Coltene Holding AG stock attractive at the current price?
The data as of Nov 11, 2026: price CHF 48.45, calculated fair value CHF 38.56 (−20%), Quality Score 62/100, 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 CLTN calculated?
We run Coltene 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 38.56 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 14.3% above its aggregate fair value. Coltene 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 Coltene Holding AG (CLTN)?
The closing price on Nov 12, 2026 was CHF 48.45. Our model-based fair value is CHF 38.56, about 20% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coltene Holding AG right now?
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (CHF 26.25 to CHF 54.02) leaves room in how you read the outcome.
Where does the earnings growth of Coltene Holding AG (CLTN) come from?
Earnings per share at Coltene Holding AG grew −3.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.9 %, EBIT margin −4.5 %, tax rate +0.5 %, residual (interest, one-offs) −0.3 %. 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 Coltene Holding AG
How large is the market capitalisation of Coltene Holding AG (CLTN)?
The market capitalisation of Coltene Holding AG is CHF 290M. 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 Coltene Holding AG (CLTN)?
The price-to-sales ratio of Coltene Holding AG is 1.23 (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 Coltene Holding AG (CLTN)?
Earnings per share at Coltene Holding AG are CHF 2.47 (price ÷ EPS = P/E 19.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Coltene Holding AG (CLTN)?
The dividend yield of Coltene Holding AG is 0.6% (payout 11.3%). 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 Coltene Holding AG (CLTN)?
The net margin of Coltene 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 Coltene Holding AG (CLTN)?
The return on equity (ROE) of Coltene Holding AG is 16.0% (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 Coltene Holding AG (CLTN)?
On an EBIT basis the return on assets of Coltene Holding AG is 15.7% (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 Coltene Holding AG (CLTN)?
The operating margin of Coltene Holding AG is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coltene Holding AG (CLTN)?
Revenue at Coltene Holding AG is growing −4.4% versus a year earlier (3y avg −3.5%). 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 Coltene Holding AG (CLTN)?
Earnings per share at Coltene Holding AG are growing −4.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Coltene Holding AG (CLTN) carry?
The net debt of Coltene Holding AG is CHF 26.3M (fiscal year 2025, ≈ 2.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 11, 2026