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Jungfraubahn Holding (JFN) Fair Value & Analysis

Industrials · CH · Market cap CHF 1.5B

JH Jungfraubahn Holding JFN · SW
PriceCHF 247.00
Fair ValueCHF 224.03
Upside-9.3%
Quality66/100
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Healthy Growth
Highly profitable · 25.6% net margin
Low debt · generates free cash flow
3.30% dividend yield
Mixed vs. peers (8/14)
Wide moat 70/100
Evidence: High Range CHF 144.24 – CHF 280.04 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from CHF 227.73 to CHF 224.03 (−1.6%) since Jul 16, 2026. Share price −3.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (CHF 144.24 to CHF 280.04) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

CHF 312.56 CHF 97.61 Fair Value CHF 224.03 May 2021 Aug 2026

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

How to read this chart

60‑month range CHF 97.61 – CHF 312.56 · fair‑value band CHF 144.24 – CHF 280.04 · the CHF 247.00 price screens above the CHF 224.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jungfraubahn Holding (JFN) currently trades at CHF 247.00, while our model-based Fair Value estimate is CHF 224.03, implying the stock looks roughly 9.3% fairly valued today. The Quality Score stands at 66/100 (solid quality), in the Industrials 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, Jungfraubahn Holding generated revenue of CHF 306M at a net margin of 25.6%. Revenue grew 1.8% year over year. It earns a return on equity of 10.4%. Net debt stands at CHF 26.6M. Fundamentals as of Aug 13, 2026

Our scenario range runs from CHF 144.24 (bear case) to CHF 280.04 (bull case); at CHF 247.00, 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 about 22% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -47% fair-value upside, at -9%, JFN 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 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 117.64 CHF 166.17 CHF 227.44 80
Residual Income CHF 111.17 CHF 120.86 CHF 143.13 76
Rev-Margin DCF CHF 77.77 CHF 115.00 CHF 158.88 74
All 26 models by family
DCF Models
FCF DCF CHF 117.11 CHF 173.47 CHF 249.58 38
Owner Earnings CHF 131.40 CHF 194.40 CHF 279.50 31
5Y Revenue Exit CHF 77.77 CHF 113.49 CHF 157.54 39
5Y EBITDA Exit CHF 147.91 CHF 245.79 CHF 360.40 41
5Y P/E Exit CHF 156.83 CHF 262.61 CHF 374.37 38
10Y Revenue Exit CHF 91.12 CHF 125.97 CHF 170.54 36
10Y EBITDA Exit CHF 133.67 CHF 210.27 CHF 313.05 37
10Y P/E Exit CHF 138.89 CHF 220.99 CHF 322.87 35
Earnings-Based
Graham-Dodd CHF 91.09 CHF 296.55 CHF 396.13 54
Lynch FV CHF 66.30 CHF 94.71 CHF 123.12 50
PEG = 1.0 CHF 66.30 CHF 94.71 CHF 123.12 46
EPV CHF 72.69 CHF 83.16 CHF 91.88 59
Dividend Discount
Gordon GGM CHF 57.29 CHF 103.24 CHF 142.13 70
DDM Multi-Stage CHF 57.29 CHF 90.89 CHF 110.29 61
Multiples
P/E Multiple CHF 210.99 CHF 281.32 CHF 351.65 63
P/S Multiple CHF 69.97 CHF 93.29 CHF 116.61 58
P/B Multiple CHF 170.80 CHF 227.73 CHF 284.67 55
EV/EBIT CHF 163.73 CHF 219.65 CHF 275.58 53
EV/EBITDA CHF 190.26 CHF 255.03 CHF 319.79 54
EV/Revenue CHF 54.74 CHF 79.93 CHF 105.12 43
Asset-Based
NCAV (Graham) CHF 66.80 CHF 89.51 CHF 133.60 50
Growth DCF
Growth DCF CHF 117.64 CHF 166.17 CHF 227.44 80
Rev-Margin DCF CHF 77.77 CHF 115.00 CHF 158.88 74
Economic Profit
Residual Income CHF 111.17 CHF 120.86 CHF 143.13 76
ROIC Compounder CHF 72.69 CHF 83.16 CHF 91.88 72
Growth Earnings
Growth-Adj P/E CHF 177.23 CHF 253.18 CHF 329.13 68

Widest divergence: Growth Earnings (CHF 253.18) versus Economic Profit (CHF 83.16). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) CHF 306M
Revenue growth (YoY) +1.8%
Net margin 25.6%
Return on equity 10.4%
Free cash flow CHF 74.4M FY2025
P/E ratio 18.2
More key figures
Operating margin 33.5%
EPS (TTM) CHF 13.59
Dividend yield 3.4%
EPS growth (YoY) -2.9%
Net debt CHF 26.6M FY2025

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 59

Profitability 46
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 81
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

Jungfraubahn Holding AG, together with its subsidiaries, operates cogwheel railway and winter sports related facilities in Jungfrau region, and Switzerland. It operates through Jungfraujoch " Top of Europe, Winter Sports, Experience Mountains, and Secondary Business segments.

Full company description

Jungfraubahn Holding AG, together with its subsidiaries, operates cogwheel railway and winter sports related facilities in Jungfrau region, and Switzerland. It operates through Jungfraujoch " Top of Europe, Winter Sports, Experience Mountains, and Secondary Business segments. The company's destinations include Jungfraujoch, Grindelwald-First, Schynige Platte, Harder Kulm, Winteregg Mürren, and Kleine Scheidegg. In addition, it offers tourist railways, cableways, skiing, flyer, glider, mountain cart, Trotti bike scooter, hiking, sledging, and shopping; food and beverages; and restaurant services, as well as operates a hydroelectric power station. Jungfraubahn Holding AG was incorporated in 2018 and is headquartered in Interlaken, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jungfraubahn Holding reported revenue of CHF 272M in FY2025 versus CHF 97.0M in FY2021, a compound +29.4%/yr. Reported net income was CHF 78.2M in FY2025.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 272M
Latest YoY
+9.0%
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.
+17.2%
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.
+23.5%
Avg. growth/yr (21Y) 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.
+4.2%
Revenue +29.4%/yr
FY21 CHF 97.0M
FY22 CHF 169M
FY23 CHF 278M
FY24 CHF 250M
FY25 CHF 272M
Net income
FY21 −CHF 462K
FY22 CHF 43.6M
FY23 CHF 79.1M
FY24 CHF 75.7M
FY25 CHF 78.2M
Character of growth · EPS growth decomposed (2014-2025) +10.4 % p.a.
Revenue per share +5.3 pp

of which total revenue +5.1 pp · buybacks/dilution +0.2 pp

EBIT margin +5.7 pp
Tax rate +0.1 pp
Residual (interest, one-offs) −0.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Jungfraubahn Holding Fair Value". https://www.fairvalue-calculator.com/stock/JFN

Peer Group

Railroads · 114 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 66 · Top 25%
Fair Value upside −9% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 34% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 3.3% · Above median
Debt / equity 0.15× · Lower than median

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 18.2× · Cheaper than median
P/B 2.35× · Pricier than median
P/S (TTM) 6.01× · Pricier than 75% of peers
P/FCF 24.7× · Pricier than 75% of peers
EV/EBITDA 13.6× · 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 21 · sector 25
FUTURE 9 · sector 19
PAST 42 · sector 30
HEALTH 92 · sector 89
DIVIDEND 66 · sector 41

Insider activity: 40/100

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $293.73 $141.29 -52%
CSX Corporation CSX $50.08 $12.62 -75%
Canadian Pacific Kansas City Limited CP $92.69 $34.23 -63%
Canadian National Railway Company CNR C$176.01 C$92.68 -47%
Norfolk Southern Corporation NSC $335.41 $114.55 -66%
Westinghouse Air Brake Technologies Corporation WAB $295.54 $144.80 -51%
Beijing-Shanghai High-Speed Railway Co 601816 ¥5.04 ¥5.65 +12%
MTR Corporation 0066 HK$32.30 HK$17.85 -45%
CRRC Corporation 601766 ¥5.98 ¥9.53 +59%
Daqin Railway Co 601006 ¥4.72 ¥6.22 +32%

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Frequently asked questions

Is Jungfraubahn Holding (JFN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of CHF 224.03 versus a price of CHF 247.00, about −9% (fairly valued).
What is the fair value of JFN?
Our model-based fair value for Jungfraubahn Holding is CHF 224.03 (as of Aug 13, 2026), built from audited fundamentals. The current price is CHF 247.00.
What is the quality score of JFN?
Jungfraubahn Holding has a Quality Score of 66/100. 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 Jungfraubahn Holding (JFN)?
Jungfraubahn Holding reported trailing-twelve-month revenue of about CHF 306M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of JFN?
The net profit margin of Jungfraubahn Holding is about 25.6%, meaning it keeps roughly 25.6% of revenue as net income. Based on the latest reported figures.
Does Jungfraubahn Holding pay a dividend?
Jungfraubahn Holding currently shows a dividend yield of about 3.38% relative to its recent price (as of Aug 13, 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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