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Siegfried Holding (SFZN) Fair Value & Analysis

Healthcare · CH · Market cap CHF 3.2B

SH Siegfried Holding SFZN · SW
PriceCHF 79.65
Fair ValueCHF 52.72
Upside-33.8%
Quality52/100
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Expensive Growth
Solidly profitable · 12.7% net margin
Low debt · generates free cash flow
0.54% dividend yield
Mixed vs. peers (6/15)
Moderate moat 60/100
Evidence: High Range CHF 26.18 – CHF 91.25 Share as image

Fair value as of: Jul 17, 2026

From 23 valuation models · updated 23 days ago

Fair value updated Jul 17, 2026, revised from CHF 53.11 to CHF 52.72 (−0.7%) since Jun 24, 2026. Share price +12.1% over the past month.

A solid business, but screening 34% overvalued on our models.

What matters now

  • The model range is unusually wide (CHF 26.18 to CHF 91.25). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

CHF 117.09 CHF 55.98 Fair Value CHF 52.72 May 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 55.98 – CHF 117.09 · fair‑value band CHF 26.18 – CHF 91.25 · the CHF 79.65 price screens above the CHF 52.72 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

Siegfried Holding (SFZN) currently trades at CHF 79.65, while our model-based Fair Value estimate is CHF 52.72, implying the stock looks roughly 33.8% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare 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, Siegfried Holding generated revenue of CHF 1.3B at a net margin of 12.7%. Revenue grew 5.0% year over year. It earns a return on equity of 16.0%. Net debt stands at CHF 472M. Fundamentals as of Jul 17, 2026

Our scenario range runs from CHF 26.18 (bear case) to CHF 91.25 (bull case); at CHF 79.65, 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 21% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -34%, SFZN 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 BearBaseBull Evidence
Highest evidence
Residual Income CHF 25.30 CHF 33.42 CHF 96.87 76
ROIC Compounder CHF 29.99 CHF 39.41 CHF 51.25 72
Gordon GGM CHF 3.33 CHF 6.64 CHF 10.06 70
All 23 models by family
DCF Models
Owner Earnings CHF 7.12 CHF 14.57 CHF 25.71 31
5Y Revenue Exit CHF 21.55 CHF 45.80 CHF 77.86 39
5Y EBITDA Exit CHF 36.87 CHF 74.89 CHF 120.52 41
5Y P/E Exit CHF 31.14 CHF 64.01 CHF 99.43 38
10Y Revenue Exit CHF 10.81 CHF 30.41 CHF 58.54 36
10Y EBITDA Exit CHF 21.71 CHF 50.31 CHF 90.81 37
10Y P/E Exit CHF 18.11 CHF 42.87 CHF 74.86 35
Earnings-Based
Graham-Dodd CHF 26.18 CHF 87.56 CHF 117.26 54
Lynch FV CHF 19.89 CHF 28.41 CHF 36.94 50
PEG = 1.0 CHF 19.89 CHF 28.41 CHF 36.94 46
EPV CHF 29.07 CHF 34.65 CHF 39.45 59
Dividend Discount
Gordon GGM CHF 3.33 CHF 6.64 CHF 10.06 70
DDM Multi-Stage CHF 3.33 CHF 5.60 CHF 7.01 61
Multiples
P/E Multiple CHF 63.52 CHF 84.70 CHF 105.87 63
P/S Multiple CHF 49.09 CHF 65.45 CHF 81.81 58
P/B Multiple CHF 49.09 CHF 65.45 CHF 81.81 55
EV/EBIT CHF 55.00 CHF 75.41 CHF 95.81 53
EV/EBITDA CHF 67.30 CHF 91.80 CHF 116.30 54
EV/Revenue CHF 37.48 CHF 56.20 CHF 74.93 43
Asset-Based
NCAV (Graham) CHF 12.88 CHF 17.25 CHF 25.75 50
Economic Profit
Residual Income CHF 25.30 CHF 33.42 CHF 96.87 76
ROIC Compounder CHF 29.99 CHF 39.41 CHF 51.25 72
Growth Earnings
Growth-Adj P/E CHF 53.59 CHF 76.56 CHF 99.53 68

Widest divergence: Growth Earnings (CHF 76.56) versus Dividend Discount (CHF 5.60). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) CHF 1.3B
Revenue growth (YoY) +5.0%
Net margin 12.7%
Return on equity 16.0%
Free cash flow CHF 10.0M FY2025
P/E ratio 21.3
More key figures
Operating margin 18.8%
EPS (TTM) CHF 3.84
Dividend yield 0.5%
EPS growth (YoY) +16.0%
Net debt CHF 472M FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 39

Profitability 48
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 75
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

Siegfried Holding AG, together with its subsidiaries, engages in contract development and manufacturing of active pharmaceutical ingredient (API) and finished dosage forms worldwide. It offers drug substances, including exclusive synthesis that manufactures custom APIs.

Full company description

Siegfried Holding AG, together with its subsidiaries, engages in contract development and manufacturing of active pharmaceutical ingredient (API) and finished dosage forms worldwide. It offers drug substances, including exclusive synthesis that manufactures custom APIs. The company also offers an API portfolio, including non-exclusive APIs and pharma-grade substances that focus on anesthetics, pain and addiction treatment applications, and central nervous and respiratory diseases, as well as caffeine for human health and nutrition. In addition, it offers drug products, including steriles, which includes fill and finish in vials, ampoules, cartridges, and pre-filled syringes; ophthalmics, such as sterile ointments, gels, and suspensions and solutions; inhalation products, including capsules in medical devices for inhalation applications; oral solid dosage forms, which includes tablets and capsules; and viral vectors, such as AAV and lentiviruses for gene therapy. Further, the company provides technologies with chemistry capabilities, analytical services, formulation technologies, bridging technologies, containment technology, and cell and gene therapies. The company was founded in 1873 and is headquartered in Zofingen, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Siegfried Holding reported revenue of CHF 1.3B in FY2025 versus CHF 1.1B in FY2021, a compound +4.8%/yr. Reported net income was CHF 169M in FY2025, compounding +15.2%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
CHF 1.3B
Latest YoY
+2.6%
Avg. growth/yr (3Y)
+2.6%
Avg. growth/yr (5Y)
+9.5%
Avg. growth/yr (23Y)
+5.4%
Revenue +4.8%/yr
FY21 CHF 1.1B
FY22 CHF 1.2B
FY23 CHF 1.3B
FY24 CHF 1.3B
FY25 CHF 1.3B
Net income +15.2%/yr
FY21 CHF 95.6M
FY22 CHF 156M
FY23 CHF 113M
FY24 CHF 160M
FY25 CHF 169M

SFZN screens 34% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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

Peer Group

Drug Manufacturers - Specialty & Generic · 626 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 52 · Below median
Fair Value upside −34% · Below median
Return on equity (TTM) 16% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 19% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 0.5% · Below median
Debt / equity 0.33× · Higher than 75% of peers

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 19.0× · Cheaper than median
P/B 3.51× · Pricier than 75% of peers
P/S (TTM) 2.98× · Pricier than median
P/FCF 396.9× · Pricier than 75% of peers
EV/EBITDA 13.7× · Pricier than median
PEG 1.42× · 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 0 · sector 7
FUTURE 25 · sector 20
PAST 64 · sector 23
HEALTH 83 · sector 97
DIVIDEND 11 · sector 34

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Siegfried Holding (SFZN) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of CHF 52.72 versus a price of CHF 79.65, about −34% (overvalued).
What is the fair value of SFZN?
Our model-based fair value for Siegfried Holding is CHF 52.72 (as of Jul 17, 2026), built from audited fundamentals. The current price is CHF 79.65.
What is the quality score of SFZN?
Siegfried Holding has a Quality Score of 52/100. 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 Siegfried Holding (SFZN)?
Siegfried Holding reported trailing-twelve-month revenue of about CHF 1.3B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of SFZN?
The net profit margin of Siegfried Holding is about 12.7%, meaning it keeps roughly 12.7% of revenue as net income. Based on the latest reported figures.
Does Siegfried Holding pay a dividend?
Siegfried Holding currently shows a dividend yield of about 0.49% 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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