Emmi AG (EMMN) Fair Value & Analysis

Consumer Defensive · CH · Market cap CHF 4.8B

A solid business, but screening 22% overvalued on our models.

What matters now

• Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
• A fairly wide model range (CHF 411.32 to CHF 1,040) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range CHF 665.63 – CHF 1,040 · fair‑value band CHF 411.32 – CHF 1,040 · the CHF 879.00 price screens above the CHF 685.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Emmi AG (EMMN) currently trades at CHF 879.00, while our model-based Fair Value estimate is CHF 685.03, implying the stock looks roughly 22.1% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, Emmi AG generated revenue of CHF 4.7B at a net margin of 4.8%. Revenue grew 6.1% year over year. It earns a return on equity of 21.0%. Net debt stands at CHF 931M. Fundamentals as of Jul 19, 2026

Our scenario range runs from CHF 411.32 (bear case) to CHF 1,040 (bull case); at CHF 879.00, 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 near its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -22%, EMMN 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.

Widest divergence: Multiples (CHF 721.65) versus Asset-Based (CHF 135.45). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Emmi AG, together with its subsidiaries, manufactures and sells dairy products in Switzerland, North and South America, the rest of Europe, Africa, and the Asia Pacific.

Full company description

Emmi AG, together with its subsidiaries, manufactures and sells dairy products in Switzerland, North and South America, the rest of Europe, Africa, and the Asia Pacific. The company offers dairy products comprising milk, cream, and butter; cheese, including raclette and fondue; fresh products consisting of yogurts, yogurt drinks, kefir products, and desserts; fresh cheese, which consists of mozzarella, protein-rich cottage cheese, goat's milk fresh cheese, and goat's cheese curds; powders and concentrates, including milk powder; and other products and services, such as ready-to-drink coffee and trading business. It sells its products under the Emmi Caffè Latte, Gerber, Emmi Energy Milk High Protein, Kaltbach, Emmi Jogurt Pur, Emmi High Protein Water, Aktifit, Luzerner, Emmi Benecol, Emmi Good Day, Le petit chevrier, Emmi Raclette, Tonis mozzarella, Pierrot Ice Cream, and beleaf brands. The company also exports its products. The company was founded in 1907 and is headquartered in Lucerne, Switzerland. Emmi AG is a subsidiary of ZMP Invest AG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Emmi AG reported revenue of CHF 4.7B in FY2025 versus CHF 3.9B in FY2021, a compound +5.0%/yr. Reported net income was CHF 227M in FY2025, compounding +1.2%/yr from FY2021.

EMMN screens 22% overvalued. Compare with Nestlé India Limited →

Peer Group

Packaged Foods · 653 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.

Valuation Multiples vs Packaged Foods median · lower = cheaper

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.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Explore undervalued stocks

More undervalued Consumer Defensive stocks →

Frequently asked questions

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.