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CPH Group (CPHN) Fair Value & Analysis

Basic Materials · CH · Market cap CHF 342M

CG CPH Group CPHN · SW
PriceCHF 60.40
Fair ValueCHF 49.64
Upside-17.8%
Quality67/100
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Mixed Growth
Thin margins · 7.0% net margin
Low debt · generates free cash flow
3.52% dividend yield
Ranks above peers (9/14)
Moderate moat 45/100
Evidence: High Range CHF 34.34 – CHF 66.28 Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price +6.0% over the past month.

A solid business, but screening 18% overvalued on our models.

What matters now

  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (CHF 34.34 to CHF 66.28) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

CHF 78.62 CHF 36.77 Fair Value CHF 49.64 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range CHF 36.77 – CHF 78.62 · fair‑value band CHF 34.34 – CHF 66.28 · the CHF 60.40 price screens above the CHF 49.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

CPH Group (CPHN) currently trades at CHF 60.40, while our model-based Fair Value estimate is CHF 49.64, implying the stock looks roughly 17.8% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Basic Materials 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, CPH Group generated revenue of CHF 334M at a net margin of 7.0%. Revenue grew 8.0% year over year. It earns a return on equity of 11.3%. Net debt stands at CHF 26.2M. Fundamentals as of Jul 20, 2026

Our scenario range runs from CHF 34.34 (bear case) to CHF 66.28 (bull case); at CHF 60.40, the current price sits within 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 share trades about 22% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -18%, CPHN screens richer 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 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. Evidence
Highest evidence
Growth DCF CHF 20.75 CHF 25.75 CHF 33.49 80
Residual Income CHF 29.30 CHF 32.58 CHF 45.20 76
Rev-Margin DCF CHF 36.07 CHF 55.73 CHF 79.40 74
All 24 models by family
DCF Models
FCF DCF CHF 20.19 CHF 25.46 CHF 34.31 38
Owner Earnings CHF 29.38 CHF 37.45 CHF 50.98 31
5Y Revenue Exit CHF 36.07 CHF 55.27 CHF 83.25 39
5Y EBITDA Exit CHF 40.69 CHF 63.26 CHF 93.13 41
5Y P/E Exit CHF 34.34 CHF 52.28 CHF 73.64 38
10Y Revenue Exit CHF 27.80 CHF 40.45 CHF 54.32 36
10Y EBITDA Exit CHF 31.46 CHF 44.96 CHF 59.62 37
10Y P/E Exit CHF 27.93 CHF 38.76 CHF 49.17 35
Earnings-Based
Graham-Dodd CHF 26.50 CHF 32.38 CHF 36.43 54
EPV CHF 37.96 CHF 42.75 CHF 46.74 59
Dividend Discount
Gordon GGM CHF 15.55 CHF 16.76 CHF 18.57 70
DDM Multi-Stage CHF 15.55 CHF 18.51 CHF 22.33 61
Multiples
P/E Multiple CHF 49.68 CHF 66.24 CHF 82.80 63
P/S Multiple CHF 49.68 CHF 66.24 CHF 82.80 58
P/B Multiple CHF 49.68 CHF 66.24 CHF 82.80 55
EV/EBIT CHF 60.22 CHF 79.35 CHF 98.47 53
EV/EBITDA CHF 65.72 CHF 86.68 CHF 107.64 54
EV/Revenue CHF 52.56 CHF 73.88 CHF 95.19 43
Asset-Based
NCAV (Graham) CHF 16.97 CHF 22.74 CHF 33.95 50
Growth DCF
Growth DCF CHF 20.75 CHF 25.75 CHF 33.49 80
Rev-Margin DCF CHF 36.07 CHF 55.73 CHF 79.40 74
Economic Profit
Residual Income CHF 29.30 CHF 32.58 CHF 45.20 76
ROIC Compounder CHF 37.96 CHF 43.56 CHF 49.16 72
Growth Earnings
Growth-Adj P/E CHF 35.39 CHF 50.56 CHF 65.73 68

Widest divergence: Multiples (CHF 66.24) versus Dividend Discount (CHF 16.76). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) CHF 334M
Revenue growth (YoY) +8.0%
Net margin 7.0%
Return on equity 11.3%
Free cash flow CHF 12.8M FY2025
P/E ratio 14.6
More key figures
Operating margin 6.9%
EPS (TTM) CHF 3.90
Dividend yield 3.5%
EPS growth (YoY) -53.2%
Net debt CHF 26.2M FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 64 · Market factors (momentum, volatility) 46

Profitability 55
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 82
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

CPH Group AG, together with its subsidiaries, develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America. It operates through two segments: Zeochem and Perlen Packaging.

Full company description

CPH Group AG, together with its subsidiaries, develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America. It operates through two segments: Zeochem and Perlen Packaging. The Zeochem segment produces molecular sieves for industrial and medical applications, chromatography gels for the pharmaceutical industry, and deuterated products used in analytics, pharmaceuticals, and OLED displays. This segment also operates production facilities in Switzerland, Bosnia and Herzegovina, the USA, Canada, China, and India. The Perlen Packaging segment focuses on the pharmaceutical industry, supplying coated plastic films used primarily in blister packaging to protect medications, as well as vials and containers for medical use; and PVC mono films and coated PVdC barrier films for use in the pharmaceutical industry. CPH Group AG was founded in 1818 and is based in Perlen, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CPH Group reported revenue of CHF 334M in FY2025 versus CHF 497M in FY2021, a compound −9.4%/yr. Reported net income was CHF 23.4M in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
CHF 334M
Avg. growth/yr (3Y) 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.
−3.4%
Avg. growth/yr (5Y) 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.
−3.1%
Avg. growth/yr (22Y) 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.
+0.4%
Revenue −9.4%/yr
FY21 CHF 497M
FY22 CHF 725M
FY23 CHF 624M
FY24 CHF 448M
FY25 CHF 334M
Net income
FY21 −CHF 152M
FY22 CHF 101M
FY23 CHF 78.9M
FY24 CHF 4.6M
FY25 CHF 23.4M

CPHN screens 18% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "CPH Group Fair Value". https://www.fairvalue-calculator.com/stock/CPHN

Peer Group

Paper & Paper Products · 111 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 67 · Top 25%
Fair Value upside −18% · Below median
Return on equity (TTM) 11% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 7% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 3.5% · Above median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 14.6× · Cheaper than median
P/B 2.08× · Pricier than 75% of peers
P/S (TTM) 1.27× · Pricier than 75% of peers
P/FCF 33.0× · Pricier than 75% of peers
EV/EBITDA 8.2× · Pricier 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 10 · sector 20
FUTURE 40 · sector 9
PAST 45 · sector 12
HEALTH 98 · sector 91
DIVIDEND 70 · sector 41

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

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Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
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Frequently asked questions

Is CPH Group (CPHN) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of CHF 49.64 versus a price of CHF 60.40, about −18% (overvalued).
What is the fair value of CPHN?
Our model-based fair value for CPH Group is CHF 49.64 (as of Jul 20, 2026), built from audited fundamentals. The current price is CHF 60.40.
What is the quality score of CPHN?
CPH Group has a Quality Score of 67/100. 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 CPH Group (CPHN)?
CPH Group reported trailing-twelve-month revenue of about CHF 334M (latest available figure, as of Jul 20, 2026).
What is the net profit margin of CPHN?
The net profit margin of CPH Group is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does CPH Group pay a dividend?
CPH Group currently shows a dividend yield of about 3.42% relative to its recent price (as of Jul 20, 2026).

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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