Kudelski SA (KUD) Fair Value & Analysis

Technology · CH · Market cap CHF 121M

Below-average quality, screening 200% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case (CHF 2.78). The market is more pessimistic than our downside scenario.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range (CHF 2.78 to CHF 5.57) 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 14, 2026.

How to read this chart

60‑month range CHF 1.11 – CHF 4.19 · fair‑value band CHF 2.78 – CHF 5.57 · the CHF 1.25 price screens below the CHF 3.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Kudelski SA (KUD) currently trades at CHF 1.25, while our model-based Fair Value estimate is CHF 3.74, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Kudelski SA generated revenue of CHF 367M at a net margin of -11.6%. Revenue declined 2.3% year over year. It earns a return on equity of -12.9%. Net debt stands at CHF 29.6M. Fundamentals as of Jul 14, 2026

Our scenario range runs from CHF 2.78 (bear case) to CHF 5.57 (bull case); at CHF 1.25, the current price sits below 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 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 200%, KUD 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.

Key figures & financial health

Quality Score breakdown

About the company

Kudelski SA, together with its subsidiaries, provides digital access and security solutions for digital television and interactive applications in Switzerland, the United States, France, Germany, Netherlands, and internationally. It operates through three segments: Core Digital Security, Cybersecurity, and Internet of Things (IoT).

Full company description

Kudelski SA, together with its subsidiaries, provides digital access and security solutions for digital television and interactive applications in Switzerland, the United States, France, Germany, Netherlands, and internationally. It operates through three segments: Core Digital Security, Cybersecurity, and Internet of Things (IoT). The company offers middleware software solutions for set-top boxes and other consumer devices, as well as engages in intellectual property activities. It also provides cybersecurity solutions, including advisory services, technology and resale services, and managed security solutions. In addition, the company offers watermarking solutions; smartcards and digital TV sales and support services; finance services; research and development; Middleware for set-top-boxes; and digital broadcasting solutions, as well as operates a travel agency. Kudelski SA was founded in 1951 and is headquartered in Cheseaux-sur-Lausanne, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kudelski SA reported revenue of CHF 384M in FY2025 versus CHF 754M in FY2021, a compound −15.5%/yr. Reported net income was −CHF 44.4M in FY2025.

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Peer Group

Software - Application · 709 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 Software - Application 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.

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.

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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.