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MCH Group (MCHN) Fair Value & Analysis

Communication Services · CH · Market cap CHF 189M

MG MCH Group MCHN · SW
PriceCHF 6.06
Fair ValueCHF 11.48
Upside+89.4%
Quality62/100
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Healthy Growth
Thin margins · 4.8% net margin
Moderate debt · generates free cash flow
Ranks above peers (8/13)
Narrow moat 42/100
Evidence: High Range CHF 8.30 – CHF 15.92 Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from CHF 11.44 to CHF 11.48 (+0.3%) since Jun 25, 2026. Share price −1.3% over the past month.

A solid business, screening 89% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (CHF 8.30). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (CHF 8.30 to CHF 15.92) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

CHF 14.81 CHF 2.99 Fair Value CHF 11.48 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range CHF 2.99 – CHF 14.81 · fair‑value band CHF 8.30 – CHF 15.92 · the CHF 6.06 price screens below the CHF 11.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

MCH Group (MCHN) currently trades at CHF 6.06, while our model-based Fair Value estimate is CHF 11.48, implying the stock looks roughly 89.4% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Communication Services 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: high), always confirm before acting.

Over the trailing twelve months, MCH Group generated revenue of CHF 389M at a net margin of 4.8%. Revenue declined 6.8% year over year. It earns a return on equity of 15.6%. Net debt stands at CHF 36.4M. Fundamentals as of Jul 18, 2026

Our scenario range runs from CHF 8.30 (bear case) to CHF 15.92 (bull case); at CHF 6.06, 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 near its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -1% fair-value upside, at 89%, MCHN 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 7.89 CHF 10.04 CHF 12.42 80
Residual Income CHF 3.33 CHF 4.26 CHF 11.06 76
Rev-Margin DCF CHF 7.66 CHF 11.30 CHF 15.25 74
All 25 models by family
DCF Models
FCF DCF CHF 7.81 CHF 10.20 CHF 12.98 38
Owner Earnings CHF 9.18 CHF 11.99 CHF 15.25 31
5Y Revenue Exit CHF 7.66 CHF 11.18 CHF 15.48 39
5Y EBITDA Exit CHF 10.67 CHF 16.56 CHF 23.13 41
5Y P/E Exit CHF 8.29 CHF 12.30 CHF 16.29 38
10Y Revenue Exit CHF 7.48 CHF 10.32 CHF 13.79 36
10Y EBITDA Exit CHF 9.26 CHF 13.43 CHF 18.56 37
10Y P/E Exit CHF 7.99 CHF 10.97 CHF 14.29 35
Earnings-Based
Graham-Dodd CHF 4.08 CHF 9.86 CHF 12.74 54
PEG = 1.0 CHF 1.74 CHF 2.49 CHF 3.24 46
EPV CHF 4.62 CHF 5.17 CHF 5.62 59
Dividend Discount
Gordon GGM CHF 0.0600 CHF 0.1000 CHF 0.1300 70
DDM Multi-Stage CHF 0.0600 CHF 0.0900 CHF 0.1100 61
Multiples
P/E Multiple CHF 9.91 CHF 13.21 CHF 16.51 63
P/S Multiple CHF 7.65 CHF 10.21 CHF 12.76 58
P/B Multiple CHF 7.65 CHF 10.21 CHF 12.76 55
EV/EBIT CHF 10.62 CHF 14.14 CHF 17.67 53
EV/EBITDA CHF 14.93 CHF 19.90 CHF 24.86 54
EV/Revenue CHF 8.06 CHF 11.50 CHF 14.94 43
Asset-Based
NCAV (Graham) CHF 1.78 CHF 2.38 CHF 3.56 50
Growth DCF
Growth DCF CHF 7.89 CHF 10.04 CHF 12.42 80
Rev-Margin DCF CHF 7.66 CHF 11.30 CHF 15.25 74
Economic Profit
Residual Income CHF 3.33 CHF 4.26 CHF 11.06 76
ROIC Compounder CHF 4.73 CHF 5.47 CHF 6.22 72
Growth Earnings
Growth-Adj P/E CHF 7.53 CHF 10.76 CHF 13.99 68

Widest divergence: Multiples (CHF 11.50) versus Dividend Discount (CHF 0.0900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) CHF 389M
Revenue growth (YoY) -6.8%
Net margin 4.8%
Return on equity 15.6%
Free cash flow CHF 30.5M FY2025
P/E ratio 10.2
More key figures
Operating margin 3.3%
EPS (TTM) CHF 0.6000
EPS growth (YoY) +41.7%
Net debt CHF 36.4M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 86

Profitability 64
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 95
Price trend over the last 3–12 months (market factor)
52W Momentum 97
Distance to the 52-week high (market factor)
Net Issuance 40
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

MCH Group AG operates as a live marketing company that provides a network of services in the exhibition and event market worldwide.

Full company description

MCH Group AG operates as a live marketing company that provides a network of services in the exhibition and event market worldwide. The company provides community platforms for use in the construction, hospitality, life sciences, and education sectors; and experience marketing solutions to institutions, event organizers, or companies in the fields of business, culture, and sports under the MCH Global, Expomobilia, and MC2 brands. It offers trade fairs, guest events, and event venues, as well as trade fair and conference infrastructures. The company was founded in 1916 and is headquartered in Basel, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MCH Group reported revenue of CHF 430M in FY2025 versus CHF 190M in FY2021, a compound +22.6%/yr. Reported net income was CHF 18.6M in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 430M
Latest YoY
+2.8%
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.
+5.2%
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.
+18.0%
Avg. growth/yr (23Y) 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.
+3.8%
Revenue +22.6%/yr
FY21 CHF 190M
FY22 CHF 369M
FY23 CHF 373M
FY24 CHF 418M
FY25 CHF 430M
Net income
FY21 −CHF 16.8M
FY22 −CHF 9.0M
FY23 −CHF 12.8M
FY24 CHF 3.0M
FY25 CHF 18.6M
Character of growth · EPS growth decomposed (2014-2025) −25.1 % p.a.
Revenue per share −16.0 pp

of which total revenue −0.2 pp · buybacks/dilution −15.8 pp

EBIT margin −7.0 pp
Tax rate −5.1 pp
Residual (interest, one-offs) +3.0 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). "MCH Group Fair Value". https://www.fairvalue-calculator.com/stock/MCHN

Peer Group

Advertising Agencies · 199 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 62 · Top 25%
Fair Value upside +89% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 3% · Above median
Revenue growth -7% · Below median
Debt / equity 0.80× · Higher than 75% of peers

Valuation Multiples vs Advertising Agencies median · lower = cheaper

P/E (TTM) 10.2× · Cheaper than median
P/B 2.12× · Pricier than median
P/S (TTM) 0.60× · Pricier than median
P/FCF 7.7× · Pricier than median
EV/EBITDA 6.0× · Cheaper 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 100 · sector 19
FUTURE 0 · sector 8
PAST 62 · sector 7
HEALTH 60 · sector 98
DIVIDEND 0 · sector 66

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 Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $506.98 $181.37 -64%
Publicis Groupe S.A PUB €87.16 €146.36 +68%
Omnicom Group OMC $80.75 $99.84 +24%
Focus Media Information Technology Co 002027 ¥5.00 ¥4.08 -18%
The Trade Desk, Inc TTD $19.37 $20.76 +7%
BlueFocus Intelligent Communications Group 300058 ¥13.81 ¥1.50 -89%
JCDecaux SE DEC €21.28 €20.99 -1%
WPP plc WPP $18.13 $18.56 +2%
Easy Click Worldwide Network Technology Co 301171 ¥28.85 ¥5.62 -81%
Mobvista Inc 1860 HK$11.15 HK$6.43 -42%

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Frequently asked questions

Is MCH Group (MCHN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of CHF 11.48 versus a price of CHF 6.06, about +89% (undervalued).
What is the fair value of MCHN?
Our model-based fair value for MCH Group is CHF 11.48 (as of Jul 18, 2026), built from audited fundamentals. The current price is CHF 6.06.
What is the quality score of MCHN?
MCH Group has a Quality Score of 62/100. 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 MCH Group (MCHN)?
MCH Group reported trailing-twelve-month revenue of about CHF 389M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of MCHN?
The net profit margin of MCH Group is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.

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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