SoftwareONE Holding AG (SWON) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of SoftwareONE Holding AG stock CHF 8.06, price CHF 8.72, that is 7.6% below the price, quality 34 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range CHF 4.43 – CHF 22.50 · fair‑value band CHF 6.15 – CHF 9.95 · the CHF 8.72 price screens above the CHF 8.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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SoftwareOne Holding AG, together with its subsidiaries, provides software and cloud solutions in Germany, Austria, Switzerland, Middle East and Africa, Northern Europe, Central and Eastern Europe, the United States of America, Canada, Latin America, and Asia Pacific.
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The company develops and delivers the technology solutions that modernize applications and software in the cloud.
It provides data and AI; application; SAP; and Cloud services; IT portfolio management services, such as application portfolio management, publisher advisory, IT asset management, SaaS management, and sourcing and demand management, as well as workplace licensing and support, workplace AI, workplace productivity, workplace security, and workplace adoption services.
It serves large enterprises, corporates, small and medium-sized enterprises, and public sector organizations. It has strategic agreement with ServiceNow to transform IT modernization in the cloud. SoftwareOne Holding AG was founded in 2000 and is headquartered in Stans, Switzerland.
Stock analysis
SoftwareONE Holding AG (SWON) currently trades at CHF 8.72, while our model-based Fair Value estimate is CHF 8.06, so the stock looks roughly fairly valued today (gap 8.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of CHF 11.20 per share, and 7 of the 24 models we run sit above the CHF 8.72 price.
Bear case: the Dividend Discount group reads lowest at CHF 2.08, and 17 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: CHF 6.15 (bear) to CHF 9.95 (bull), the price of CHF 8.72 sits inside 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 34/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SoftwareONE Holding AG reported revenue of CHF 1.2B in FY2025 versus CHF 914M in FY2021, a compound +8.0%/yr. Reported net income was CHF 900K in FY2025, compounding −70.4%/yr from FY2021.
Key figures
Market cap CHF 1.9B Mid · P/E ratio 48.4 · P/S ratio 1.19 · EPS (TTM) CHF 0.1800 · Dividend yield 1.7% · Net margin 2.9% · Return on equity 6.1% · Return on assets (EBIT) 6.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 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 about 10% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 9% fair-value upside, at −8%, SWON screens richer than that median.
Fair Value models
BearCHF 6.15Fair Value CHF 8.06BullCHF 9.95
Price CHF 8.72 · Downside -7.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 0.0261 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.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCFCHF 9.09CHF 15.34CHF 25.7377
Growth DCFCHF 8.95CHF 14.44CHF 23.0776
Residual IncomeCHF 2.50CHF 2.68CHF 2.9376
All 24 models by family
DCF Models
FCF DCFCHF 9.09CHF 15.34CHF 25.7377
Owner EarningsCHF 6.20CHF 10.18CHF 16.8074
5Y Revenue ExitCHF 5.52CHF 7.93CHF 11.0572
5Y EBITDA ExitCHF 9.22CHF 15.69CHF 23.9173
5Y P/E ExitCHF 3.89CHF 4.49CHF 5.0371
10Y Revenue ExitCHF 6.64CHF 9.33CHF 13.2366
10Y EBITDA ExitCHF 9.08CHF 14.83CHF 23.7166
10Y P/E ExitCHF 5.67CHF 6.89CHF 8.3264
Earnings-Based
Graham-DoddCHF 0.0300CHF 0.1400CHF 0.190064
Lynch FVCHF 0.0500CHF 0.0800CHF 0.100061
PEG = 1.0CHF 0.0500CHF 0.0800CHF 0.100057
EPVCHF 2.87CHF 3.13CHF 3.3573
Dividend Discount
Gordon GGMCHF 1.15CHF 2.20CHF 3.2167
DDM Multi-StageCHF 1.15CHF 1.95CHF 2.3467
Multiples
P/E MultipleCHF 0.0900CHF 0.1200CHF 0.150063
P/S MultipleCHF 0.0500CHF 0.0700CHF 0.090057
EV/EBITCHF 6.16CHF 7.87CHF 9.5865
EV/EBITDACHF 9.88CHF 12.82CHF 15.7767
EV/RevenueCHF 3.62CHF 4.74CHF 5.8553
Growth DCF
Growth DCFCHF 8.95CHF 14.44CHF 23.0776
Rev-Margin DCFCHF 5.52CHF 7.96CHF 11.1872
Economic Profit
Residual IncomeCHF 2.50CHF 2.68CHF 2.9376
ROIC CompounderCHF 2.87CHF 3.13CHF 3.3571
Growth Earnings
Growth-Adj P/ECHF 0.0700CHF 0.1000CHF 0.130067
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+22.5%
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.
+8.4%
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.
+8.4%
Start year 2020 (pandemic)
Revenue growth 9 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.
−9.5%
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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.
−61.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−62.7%
Dividend (yield on the price)1.7%
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.−62.7% vs −25.8%, slowing
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 15.8%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−7.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+10.7%
Yearly sales growth analysts expect, extended to five years.
The revenue jump in 2026 (+30.8%) comes with 41% more shares (acquisition or merger paid in stock). Per share it is about −7.2%. The comparison above is unreliable in such a year.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −8.4% a year for the price and +10.1% for the forecasts.
AI conclusion: The company's AWS Data Competency marks its strength in AI-driven services and database modernization, while persistently low net profitability and ROE remain its main weakness limiting durable advantage.
Main risk: Margin pressure on the core licensing model risks outpacing growth in the solutions business and hitting overall profitability.
SoftwareOne just earned the AWS Data Competency, underscoring its move into database modernization and AI-driven services. Our models still see the stock as overvalued. Will the new AI opportunities expand its solutions business faster than its core licensing model faces margin pressure?
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.Software - Application · 721 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score34 · Bottom 25%
Fair Value upside−7.6% · Below median
Profitability
Return on equity (12 months)6.1% · Above median
Return on assets0.0% · Below median
Net margin (12 months)4.5% · Above median
Operating margin (12 months)16.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)68.2% · Top 25%
Dividend yield (12 months)1.7% · Above median
Balance sheet
Debt / equity0.05× · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
P/E (12 months)48.4× · Priciest 25%
P/B2.33× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)2.24× · Cheaper than median
Price / free cash flow (fiscal year)17.3× · Cheaper than median
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). "SoftwareONE Holding AG Fair Value". https://www.fairvalue-calculator.com/stock/SWON
Frequently asked questions
Is SoftwareONE Holding AG (SWON) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of CHF 8.06 versus a price of CHF 8.72, about 8% lower (fairly valued).
What is the fair value of SWON?
Our model-based fair value for SoftwareONE Holding AG is CHF 8.06 (as of Nov 12, 2026), built from audited fundamentals. The current price: CHF 8.72.
What is the quality score of SWON?
SoftwareONE Holding AG has a Quality Score of 34/100. 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 SoftwareONE Holding AG (SWON)?
Our model-based price target is the fair value of CHF 8.06 (as of Nov 12, 2026) from 24 valuation models. Cautious scenario CHF 6.15, optimistic scenario CHF 9.95. It is a calculation from audited fundamentals, not an analyst target.
What is the SoftwareONE Holding AG stock forecast for 2026?
Our models put fair value at CHF 8.06, about 8% lower versus a price of CHF 8.72 (fairly valued). Cautious scenario CHF 6.15, optimistic scenario CHF 9.95. The calculation is refreshed regularly with new filings.
What is the revenue of SoftwareONE Holding AG (SWON)?
SoftwareONE Holding AG reported trailing-twelve-month revenue of about CHF 1.6B (latest available figure, as of Nov 12, 2026).
Does SoftwareONE Holding AG pay a dividend?
SoftwareONE Holding AG currently shows a dividend yield of 1.72% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of SoftwareONE Holding AG (SWON) and when is the ex-dividend date?
SoftwareONE Holding AG pays a dividend of CHF 0.15 per share a year, a dividend yield of 1.7%. The last ex-dividend date was May 27, 2026. A dividend has been paid every year since at least 2020. The payout ratio is 83.3% of earnings. Free cash flow covers the dividend 6.30 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into SoftwareONE Holding AG (SWON)?
For today's price to be fair in a discounted-cash-flow model, SoftwareONE Holding AG would have to grow free cash flow by -7.9 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of SWON use?
Our models discount SoftwareONE Holding AG at 10.0 %: a base by market capitalisation (mid), damped by beta 1.21, 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 SoftwareONE Holding AG that is -7.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has SoftwareONE Holding AG (SWON) delivered so far?
Over the past 5 years revenue at SoftwareONE Holding AG grew +8.4 % a year. The price currently implies free-cash-flow growth of -7.9 % per 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 SoftwareONE Holding AG (SWON) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into SoftwareONE Holding AG (-7.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SoftwareONE Holding AG (SWON)?
The free-cash-flow yield on the price is 10.73 %: that much free cash flow SoftwareONE Holding AG produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SoftwareONE Holding AG (SWON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SoftwareONE Holding AG it is CHF 8.06 per share (as of Nov 12, 2026), against a price of CHF 8.72. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is SoftwareONE Holding AG stock overvalued or undervalued in 2026?
As of Nov 12, 2026, SWON trades above its calculated fair value: price CHF 8.72, fair value CHF 8.06, a gap of about −8% (fairly valued). 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 SWON?
No. The price is what the market pays today (CHF 8.72); the fair value is what the company's own numbers justify (CHF 8.06). For SoftwareONE Holding AG the two are CHF 0.6620 per share apart. That gap is exactly why we show both numbers side by side.
How much is SoftwareONE Holding AG worth?
The market values SoftwareONE Holding AG at about CHF 1.9B (market capitalisation, as of Nov 12, 2026). Per share that is CHF 8.72; our models calculate a fair value of CHF 8.06 per share.
What do the bullish and bearish scenarios say about SWON?
Our models span a range for SoftwareONE Holding AG: cautious scenario CHF 6.15, base CHF 8.06, optimistic CHF 9.95 per share (as of Nov 12, 2026, price CHF 8.72). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SWON?
SoftwareONE Holding AG trades at a price-to-earnings ratio of 48.4 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 8.06 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2019 to 2025), reported earnings: 30.3. Other multiples: P/B 2.3, P/S 2.2, EV/EBITDA 14.2.
How solid is the balance sheet of SoftwareONE Holding AG (SWON)?
Balance-sheet figures for SoftwareONE Holding AG (as of Nov 12, 2026): return on equity 6.1%, debt of 0.05 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is SWON from its 52-week high?
SoftwareONE Holding AG trades at CHF 8.72, about 10% below its 52-week high of CHF 9.72 and 53% above the low of CHF 5.70 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 8.06 is for.
Which stocks are comparable to SoftwareONE Holding AG?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 SoftwareONE Holding AG stock attractive at the current price?
The data as of Nov 12, 2026: price CHF 8.72, calculated fair value CHF 8.06 (−8%), Quality Score 34/100, 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 SWON calculated?
We run SoftwareONE Holding AG through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 8.06 builds on their evidence-weighted average, 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 14.3% above its aggregate fair value. SoftwareONE Holding AG 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 SoftwareONE Holding AG (SWON)?
The closing price on Nov 13, 2026 was CHF 8.72. Our model-based fair value is CHF 8.06, about 8% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SoftwareONE Holding AG right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of SoftwareONE Holding AG
How large is the market capitalisation of SoftwareONE Holding AG (SWON)?
The market capitalisation of SoftwareONE Holding AG is CHF 1.9B. 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 SoftwareONE Holding AG (SWON)?
The price-to-sales ratio of SoftwareONE Holding AG is 1.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SoftwareONE Holding AG (SWON)?
Earnings per share at SoftwareONE Holding AG are CHF 0.1800 (price ÷ EPS = P/E 48.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SoftwareONE Holding AG (SWON)?
The dividend yield of SoftwareONE Holding AG is 1.7% (payout 83.3%). 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 SoftwareONE Holding AG (SWON)?
The net margin of SoftwareONE Holding AG is 2.9% (last twelve months). 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 SoftwareONE Holding AG (SWON)?
The return on equity (ROE) of SoftwareONE Holding AG is 6.1% (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 SoftwareONE Holding AG (SWON)?
On an EBIT basis the return on assets of SoftwareONE Holding AG is 6.3% (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 SoftwareONE Holding AG (SWON)?
The operating margin of SoftwareONE Holding AG is 16.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SoftwareONE Holding AG (SWON)?
Revenue at SoftwareONE Holding AG is growing +68.2% versus a year earlier (3y avg +8.4%). 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 SoftwareONE Holding AG (SWON)?
Earnings per share at SoftwareONE Holding AG are growing +317% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does SoftwareONE Holding AG (SWON) hold?
SoftwareONE Holding AG holds more cash than debt, CHF 345M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 12, 2026