Lem Holding SA (LEHN) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Lem Holding SA CHF 327, price CHF 657, upside -50.2%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range CHF 262.00 – CHF 2,456 · fair‑value band CHF 245.45 – CHF 409.07 · the CHF 657.00 price screens above the CHF 327.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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LEM Holding SA, together with its subsidiaries, provides measuring electrical parameters solutions in China, Japan, South Korea, India, Southeast Asia, Europe, the Middle East, Africa, NAFTA, and Latin America.
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LEM Holding SA, together with its subsidiaries, provides measuring electrical parameters solutions in China, Japan, South Korea, India, Southeast Asia, Europe, the Middle East, Africa, NAFTA, and Latin America. The company offers current, voltage, integrated current, and Rogowski coil sensors, as well as energy meters; and provides after-sales and return merchandise authorization services. Its products are used in automotive battery management and motor control, electric vehicle chargers, smart grid, welding, automation, drives, high-precision, power supplies, renewable energies, trackside, and traction applications. The company was founded in 1972 and is headquartered in Meyrin, Switzerland.
Stock analysis
Lem Holding SA (LEHN) currently trades at CHF 657.00, while our model-based Fair Value estimate is CHF 327.26, implying the stock looks roughly 100.8% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of CHF 472.36 per share, and 0 of the 24 models we run sit above the CHF 657.00 price.
Bear case: the Asset-Based group reads lowest at CHF 79.32, and 24 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: CHF 245.45 (bear) to CHF 409.07 (bull), the price of CHF 657.00 sits above 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 66/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Lem Holding SA reported revenue of CHF 288M in FY2026 versus CHF 373M in FY2022, a compound −6.3%/yr. Reported net income was CHF 9.9M in FY2026, compounding −39.2%/yr from FY2022.
Key figures
Market cap CHF 749M · P/E ratio 76.0 · P/S ratio 2.60 · EPS (TTM) CHF 8.65 · Dividend yield 12.6% · Net margin 3.4% · Return on equity 7.6% · Return on assets (EBIT) 18.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades at its 52-week high and 151% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −56% fair-value upside, at −50%, LEHN screens cheaper than that median.
Fair Value models
Bear CHF 245.45Fair Value CHF 327.26Bull CHF 409.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (CHF 4.32 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.Evidence ⓘEvidence = 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
−6.3%
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.
−10.9%
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.
−0.9%
Start year 2021 (pandemic). Over 10 years: +1.0% a year
Revenue growth 24 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.
+2.6%
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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.
−17.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.5%
Dividend (yield on the price)12.6%
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.−30.5% vs −13.8%, slowing
Profit margin 2021 to 2026 ⓘ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.20% → 9%
Start year 2021 (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).
+16.9%
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.
+4.7%
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 +16.2% a year for the price and +4.0% 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.Electronic Components · 640 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside−50.2% · Below median
Profitability
Return on equity (TTM)7.6% · Above median
Return on assets4.9% · Above median
Net margin (TTM)3.4% · Below median
Operating margin (TTM)9.2% · Above median
Growth and dividend
Revenue growth−8.9% · Bottom 25%
Dividend yield (TTM)12.6% · Top 25%
Balance sheet
Debt / equity0.44× · Highest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (TTM)76.0× · Priciest 25%
P/B5.56× · Priciest 25%
P/S (TTM)2.60× · Pricier than median
P/FCF23.6× · Cheaper than median
EV/EBITDA17.6× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 38
PAST (return on equity)30· sector 26
HEALTH (low debt)78· sector 95
DIVIDEND (yield)100· sector 26
VALUE 0: the price sits above our fair-value range.
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). "Lem Holding SA Fair Value". https://www.fairvalue-calculator.com/stock/LEHN
Frequently asked questions
Is Lem Holding SA (LEHN) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of CHF 327.26 versus a price of CHF 657.00, about −50% upside (overvalued).
What is the fair value of LEHN?
Our model-based fair value for Lem Holding SA is CHF 327.26 (as of Sep 27, 2026), built from audited fundamentals. The current price: CHF 657.00.
What is the quality score of LEHN?
Lem Holding SA 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 price target for Lem Holding SA (LEHN)?
Our model-based price target is the fair value of CHF 327.26 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario CHF 245.45, optimistic scenario CHF 409.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Lem Holding SA stock forecast for 2026?
Our models put fair value at CHF 327.26, about −50% upside versus a price of CHF 657.00 (overvalued). Cautious scenario CHF 245.45, optimistic scenario CHF 409.07. The calculation is refreshed regularly with new filings.
What is the revenue of Lem Holding SA (LEHN)?
Lem Holding SA reported trailing-twelve-month revenue of about CHF 288M (latest available figure, as of Sep 27, 2026).
Does Lem Holding SA pay a dividend?
Lem Holding SA currently shows a dividend yield of about 12.58% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Lem Holding SA (LEHN)?
For today's price to be fair in a discounted-cash-flow model, Lem Holding SA would have to grow free cash flow by +16.9 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of LEHN use?
Our models discount Lem Holding SA at 10.8 %: a base by market capitalisation (small), damped by beta 0.94, 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 Lem Holding SA that is +16.9 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has Lem Holding SA (LEHN) delivered so far?
Over the past 5 years revenue at Lem Holding SA grew -0.9 % a year. The price currently implies +16.9 % per year free-cash-flow growth a 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 Lem Holding SA (LEHN) growing?
The median revenue growth in the sector is +5.4 % a year. That is the yardstick for the growth priced into Lem Holding SA (+16.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lem Holding SA (LEHN)?
The free-cash-flow yield on the price is 4.24 %: that much free cash flow Lem Holding SA produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lem Holding SA (LEHN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lem Holding SA it is CHF 327.26 per share (as of Sep 27, 2026), against a price of CHF 657.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Lem Holding SA stock overvalued or undervalued in 2026?
As of Sep 27, 2026, LEHN trades above its calculated fair value: price CHF 657.00, fair value CHF 327.26, a gap of about −50% (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 LEHN?
No. The price is what the market pays today (CHF 657.00); the fair value is what the company's own numbers justify (CHF 327.26). For Lem Holding SA the two are CHF 329.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lem Holding SA worth?
The market values Lem Holding SA at about CHF 749M (market capitalisation, as of Sep 27, 2026). Per share that is CHF 657.00; our models calculate a fair value of CHF 327.26 per share.
What do the bullish and bearish scenarios say about LEHN?
Our models span a range for Lem Holding SA: cautious scenario CHF 245.45, base CHF 327.26, optimistic CHF 409.07 per share (as of Sep 27, 2026, price CHF 657.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LEHN?
Lem Holding SA trades at a price-to-earnings ratio of 76.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 327.26 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 69.0 (reported 76.0). Other multiples: P/B 5.6, P/S 2.6, EV/EBITDA 17.6.
How solid is the balance sheet of Lem Holding SA (LEHN)?
Balance-sheet figures for Lem Holding SA (as of Sep 27, 2026): return on equity 7.6%, debt of 0.44 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is LEHN from its 52-week high?
Lem Holding SA trades at CHF 657.00, at its 52-week high of CHF 657.00 and 151% above the low of CHF 262.00 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 327.26 is for.
Which stocks are comparable to Lem Holding SA?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Samsung Electro-Mechanics Co, 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 Lem Holding SA stock attractive at the current price?
The data as of Sep 27, 2026: price CHF 657.00, calculated fair value CHF 327.26 (−50%), Quality Score 66/100, 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 LEHN calculated?
We run Lem Holding SA through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of CHF 327.26, 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 15.9 % above its aggregate fair value. Lem Holding SA 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 Lem Holding SA (LEHN)?
The closing price on Sep 29, 2026 was CHF 657.00. Our model-based fair value is CHF 327.26, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lem Holding SA right now?
The price sits above even our optimistic bull case (CHF 409.07). The favourable scenario is already priced in. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Lem Holding SA (LEHN) come from?
Earnings per share at Lem Holding SA grew −4.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.7 %, EBIT margin −5.4 %, tax rate −0.1 %, residual (interest, one-offs) −2.0 %. 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 Lem Holding SA
How large is the market capitalisation of Lem Holding SA (LEHN)?
The market capitalisation of Lem Holding SA is CHF 749M. 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 Lem Holding SA (LEHN)?
The price-to-sales ratio of Lem Holding SA is 2.60 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lem Holding SA (LEHN)?
Earnings per share at Lem Holding SA are CHF 8.65 (price ÷ EPS = P/E 76.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lem Holding SA (LEHN)?
The dividend yield of Lem Holding SA is 12.6%. 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 Lem Holding SA (LEHN)?
The net margin of Lem Holding SA is 3.4% (fiscal year 2026). 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 Lem Holding SA (LEHN)?
The return on equity (ROE) of Lem Holding SA is 7.6% (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 Lem Holding SA (LEHN)?
On an EBIT basis the return on assets of Lem Holding SA is 18.7% (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 Lem Holding SA (LEHN)?
The operating margin of Lem Holding SA is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lem Holding SA (LEHN)?
Revenue at Lem Holding SA is growing −8.9% versus a year earlier (3y avg −10.9%). 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 Lem Holding SA (LEHN)?
Earnings per share at Lem Holding SA are growing −50.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lem Holding SA (LEHN) carry?
The net debt of Lem Holding SA is CHF 90.0M (fiscal year 2026, ≈ 2.8 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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