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Mikron Holding (MIKN) Fair Value & Analysis

Industrials · CH · Market cap CHF 275M

MH Mikron Holding MIKN · SW
PriceCHF 16.65
Fair ValueCHF 32.87
Upside+97.4%
Quality57/100
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Expensive Growth
Thin margins · 8.5% net margin
Low debt · negative free cash flow
3.67% dividend yield
Ranks above peers (13/14)
Moderate moat 51/100
Evidence: High Range CHF 23.01 – CHF 42.74 Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 24 days ago

Share price +1.8% over the past month.

A solid business, screening 97% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (CHF 23.01). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (CHF 23.01 to CHF 42.74) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

CHF 21.23 CHF 5.65 Fair Value CHF 32.87 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range CHF 5.65 – CHF 21.23 · fair‑value band CHF 23.01 – CHF 42.74 · the CHF 16.65 price screens below the CHF 32.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Mikron Holding (MIKN) currently trades at CHF 16.65, while our model-based Fair Value estimate is CHF 32.87, implying the stock looks roughly 97.4% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Industrials 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, Mikron Holding generated revenue of CHF 382M at a net margin of 8.5%. Revenue grew 3.7% year over year. It earns a return on equity of 14.3%. The balance sheet holds a net cash position of CHF 63.0M. Fundamentals as of Jul 17, 2026

Our scenario range runs from CHF 23.01 (bear case) to CHF 42.74 (bull case); at CHF 16.65, 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 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 97%, MIKN 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
Residual Income CHF 12.32 CHF 14.02 CHF 22.83 76
ROIC Compounder CHF 17.69 CHF 19.84 CHF 21.95 72
Gordon GGM CHF 3.47 CHF 5.00 CHF 6.35 70
All 16 models by family
DCF Models
Owner Earnings CHF 12.01 CHF 14.41 CHF 17.16 31
Earnings-Based
Graham-Dodd CHF 13.24 CHF 30.16 CHF 38.65 54
PEG = 1.0 CHF 5.00 CHF 7.15 CHF 9.29 46
EPV CHF 17.41 CHF 19.05 CHF 20.37 59
Dividend Discount
Gordon GGM CHF 3.47 CHF 5.00 CHF 6.35 70
DDM Multi-Stage CHF 3.47 CHF 4.65 CHF 5.72 61
Multiples
P/E Multiple CHF 30.67 CHF 40.90 CHF 51.12 63
P/S Multiple CHF 24.83 CHF 33.11 CHF 41.39 58
P/B Multiple CHF 24.83 CHF 33.11 CHF 41.39 55
EV/EBIT CHF 31.99 CHF 41.38 CHF 50.78 53
EV/EBITDA CHF 31.18 CHF 40.30 CHF 49.43 54
EV/Revenue CHF 23.92 CHF 32.54 CHF 41.16 43
Asset-Based
NCAV (Graham) CHF 7.09 CHF 9.50 CHF 14.18 50
Economic Profit
Residual Income CHF 12.32 CHF 14.02 CHF 22.83 76
ROIC Compounder CHF 17.69 CHF 19.84 CHF 21.95 72
Growth Earnings
Growth-Adj P/E CHF 23.01 CHF 32.87 CHF 42.74 68

Widest divergence: Multiples (CHF 33.11) versus Dividend Discount (CHF 4.65). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) CHF 382M
Revenue growth (YoY) +3.7%
Net margin 8.5%
Return on equity 14.3%
Free cash flow −CHF 12.0M FY2025
P/E ratio 8.5
More key figures
Operating margin 9.6%
EPS (TTM) CHF 1.95
Dividend yield 3.7%
EPS growth (YoY) +5.7%
Net cash CHF 63.0M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 46

Profitability 54
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 77
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

Mikron Holding AG develops, produces, and markets automation solutions, machining systems, and cutting tools in the Switzerland, Europe, North America, the Asia Pacific, and internationally. It operates in two segments, Mikron Automation and Mikron Machining Solutions.

Full company description

Mikron Holding AG develops, produces, and markets automation solutions, machining systems, and cutting tools in the Switzerland, Europe, North America, the Asia Pacific, and internationally. It operates in two segments, Mikron Automation and Mikron Machining Solutions. The company offers scalable and customized assembly systems, as well as solutions that include automation assembly and testing systems. It also supplies machining systems for the manufacture of high-precision components made of metal, such as turbocharger housings, injection nozzles, and ballpoint pen tips. The company serves pharmaceutical, automotive, electronics and telecommunications, medtech, consumer goods, construction/building, and pneumatics and hydraulics industries. Mikron Holding AG was founded in 1908 and is based in Agno, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mikron Holding reported revenue of CHF 382M in FY2025 versus CHF 289M in FY2021, a compound +7.2%/yr. Reported net income was CHF 32.5M in FY2025, compounding +17.6%/yr from FY2021.

Growth Quality 49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
CHF 382M
Latest YoY
+2.1%
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.
+7.3%
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.
+8.2%
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.
−0.4%
Revenue +7.2%/yr
FY21 CHF 289M
FY22 CHF 309M
FY23 CHF 370M
FY24 CHF 374M
FY25 CHF 382M
Net income +17.6%/yr
FY21 CHF 17.0M
FY22 CHF 24.2M
FY23 CHF 28.8M
FY24 CHF 27.9M
FY25 CHF 32.5M
Character of growth · EPS growth decomposed (2014-2025) +36.4 % p.a.
Revenue per share +4.9 pp

of which total revenue +4.9 pp · buybacks/dilution +0.0 pp

EBIT margin +30.0 pp
Tax rate +1.9 pp
Residual (interest, one-offs) −0.4 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). "Mikron Holding Fair Value". https://www.fairvalue-calculator.com/stock/MIKN

Peer Group

Specialty Industrial Machinery · 808 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 57 · Above median
Fair Value upside +97% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 3.7% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 8.5× · Cheaper than 75% of peers
P/B 1.44× · Cheaper than median
P/S (TTM) 0.89× · Cheaper than median
EV/EBITDA 5.7× · Cheaper than 75% of peers
PEG 1.31× · 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 0
FUTURE 19 · sector 23
PAST 57 · sector 28
HEALTH 100 · sector 96
DIVIDEND 73 · sector 24

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

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Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Mikron Holding (MIKN) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of CHF 32.87 versus a price of CHF 16.65, about +97% (undervalued).
What is the fair value of MIKN?
Our model-based fair value for Mikron Holding is CHF 32.87 (as of Jul 17, 2026), built from audited fundamentals. The current price is CHF 16.65.
What is the quality score of MIKN?
Mikron Holding has a Quality Score of 57/100. 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 Mikron Holding (MIKN)?
Mikron Holding reported trailing-twelve-month revenue of about CHF 382M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MIKN?
The net profit margin of Mikron Holding is about 8.5%, meaning it keeps roughly 8.5% of revenue as net income. Based on the latest reported figures.
Does Mikron Holding pay a dividend?
Mikron Holding currently shows a dividend yield of about 3.49% relative to its recent price (as of Jul 17, 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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