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SoftwareOne Holding (SWONF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of SoftwareOne Holding $8.97, price $10.48, upside -14.4%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Technology · US · ISIN CH0496451508

SH SoftwareOne Holding logo Some data Sep 24, 2026

SoftwareOne Holding

SWONF · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $8.97 · Overvalued (−14.4%)
!Quality 48/100
!Mixed Growth (revenue 5y +8.4 %/yr)
!Thin margins · 0.1% net margin (TTM)
✓generates free cash flow
✓1.4% dividend yield · Sustainable
!Narrow moat 29/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$20.12 $5.22 Fair Value $8.97 Aug 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $5.22 – $20.12 · fair‑value band $6.86 – $11.07 · the $10.48 price screens above the $8.97 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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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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. 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 (SWONF) currently trades at $10.48, while our model-based Fair Value estimate is $8.97, 14.4% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of $12.35 per share, and 10 of the 24 models we run sit above the $10.48 price.

Bear case: the Dividend Discount group reads lowest at $2.93, and 14 of the 24 models stay below the price. Evidence for this calculation is medium.

Scenario range: $6.86 (bear) to $11.07 (bull), the price of $10.48 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 48/100 (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 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 $2.2B · P/S ratio 1.77 · Dividend yield 1.4% · Net margin 0.1% · Return on equity 0.2% · Return on assets (EBIT) 4.1% · Operating margin 7.5% · Revenue (TTM) CHF 1.2B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 10% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at −14%, SWONF screens richer than that median.

Fair Value models

Bear $6.86 Fair Value $8.97 Bull $11.07
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. 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.
Highest evidence
FCF DCF $14.52 $18.73 $25.80 79
Growth DCF $14.93 $18.97 $25.30 77
Residual Income $3.59 $3.30 $3.09 76
All 24 models by family
DCF Models
FCF DCF $14.52 $18.73 $25.80 79
Owner Earnings $6.67 $8.16 $10.66 75
5Y Revenue Exit $9.83 $12.11 $15.22 71
5Y EBITDA Exit $15.87 $22.47 $30.75 73
5Y P/E Exit $7.12 $7.46 $7.87 69
10Y Revenue Exit $11.46 $13.72 $16.21 66
10Y EBITDA Exit $15.23 $20.44 $26.45 67
10Y P/E Exit $9.96 $10.71 $11.35 63
Earnings-Based
Graham-Dodd $0.0300 $0.0600 $0.0800 65
EPV $5.78 $6.32 $6.79 70
Dividend Discount
Gordon GGM $2.25 $2.93 $3.61 69
DDM Multi-Stage $2.25 $3.03 $3.94 67
Multiples
P/E Multiple $0.1100 $0.1400 $0.1800 63
P/S Multiple $0.0600 $0.0900 $0.1100 58
P/B Multiple $0.0600 $0.0900 $0.1100 55
EV/EBIT $11.97 $15.18 $18.39 63
EV/EBITDA $18.94 $24.47 $30.01 64
EV/Revenue $7.22 $9.30 $11.39 52
Asset-Based
NCAV (Graham) $2.73 $3.66 $5.46 51
Growth DCF
Growth DCF $14.93 $18.97 $25.30 77
Rev-Margin DCF $9.83 $12.35 $15.47 71
Economic Profit
Residual Income $3.59 $3.30 $3.09 76
ROIC Compounder $5.80 $6.45 $7.11 70
Growth Earnings
Growth-Adj P/E $0.0700 $0.1100 $0.1400 67

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Quality Score breakdown

Overall quality 48/100

Of which business quality 50 · Market factors (momentum, volatility) 58

Profitability 13
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 87
Share count: buybacks or dilution?

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Revenue & earnings trend

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%
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.
−61.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−62.7%
Dividend (yield on the price)1.4%
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
Profit margin 2020 to 2025 ⓘ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.32% → 8%
Start year 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).
−17.0%
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.
+10.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CHF, Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about −17.5% a year for the price and +9.4% for the forecasts.
Forecast 2026 (sales)+29.6%
Forecast 2027 (sales)+6.5%
Projected 2028 (sales)+6.0%
Projected 2029 (sales)+5.4%
Projected 2030 (sales)+4.8%

SWONF screens overvalued: fair value 14% below the price. Compare with SAP SE →

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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 · 636 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside +36.7% · Top 25%
Profitability
Return on equity (TTM) 0.2% · Below median
Return on assets 1.2% · Below median
Net margin (TTM) 0.1% · Below median
Operating margin (TTM) 7.5% · Above median
Growth and dividend
Revenue growth 55.7% · Top 25%
Dividend yield (TTM) 1.4% · Below median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 2.26× · Cheaper than median
P/S (TTM) 1.77× · Cheaper than median
P/FCF 10.8× · Cheaper than median
EV/EBITDA 15.9× · Pricier than median

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €186.74 €172.46 −8%
Salesforce, Inc CRM $229.57 $342.73 +49%
Shopify Inc SHOP $144.01 $64.36 −55%
ServiceNow, Inc NOW $134.01 $147.41 +10%
Uber Technologies, Inc UBER $69.36 $103.69 +49%
Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $239.94 $454.04 +89%
Datadog, Inc DDOG $268.70 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.70 $225.48 −31%

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

Frequently asked questions

Is SoftwareOne Holding (SWONF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $8.97 versus the last price from Sep 25, 2026 of $10.48, about −14% upside (overvalued).
What is the fair value of SWONF?
Our model-based fair value for SoftwareOne Holding is $8.97 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $10.48.
What is the quality score of SWONF?
SoftwareOne Holding has a Quality Score of 48/100. 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 (SWONF)?
Our model-based price target is the fair value of $8.97 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $6.86, optimistic scenario $11.07. It is a calculation from audited fundamentals, not an analyst target.
What is the SoftwareOne Holding stock forecast for 2026?
Our models put fair value at $8.97, about −14% upside versus the last price from Sep 25, 2026 of $10.48 (overvalued). Cautious scenario $6.86, optimistic scenario $11.07. The calculation is refreshed regularly with new filings.
What is the revenue of SoftwareOne Holding (SWONF)?
SoftwareOne Holding reported trailing-twelve-month revenue of about CHF 1.2B (latest available figure, as of Sep 24, 2026).
Does SoftwareOne Holding pay a dividend?
SoftwareOne Holding currently shows a dividend yield of about 1.43% relative to its recent price (as of Sep 24, 2026).
What growth is priced into SoftwareOne Holding (SWONF)?
For today's price to be fair in a discounted-cash-flow model, SoftwareOne Holding would have to grow free cash flow by -17.0 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SWONF use?
Our models discount SoftwareOne Holding at 10.3 %: a base by market capitalisation (mid), damped by beta 1.23, country premium for USA. 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 that is -17.0 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has SoftwareOne Holding (SWONF) delivered so far?
Over the past 5 years revenue at SoftwareOne Holding grew +8.4 % a year. The price currently implies -17.0 % 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 SoftwareOne Holding (SWONF) growing?
The median revenue growth in the sector is +10.0 % a year. That is the yardstick for the growth priced into SoftwareOne Holding (-17.0 % 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 SoftwareOne Holding (SWONF)?
The free-cash-flow yield on the price is 15.35 %: that much free cash flow SoftwareOne Holding produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), 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 (SWONF)?
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 it is $8.97 per share (as of Sep 24, 2026), against a price of $10.48. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is SoftwareOne Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SWONF trades above its calculated fair value: price $10.48, fair value $8.97, a gap of about −14% (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 SWONF?
No. The price is what the market pays today ($10.48); the fair value is what the company's own numbers justify ($8.97). For SoftwareOne Holding the two are $1.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is SoftwareOne Holding worth?
The market values SoftwareOne Holding at about $2.2B (market capitalisation, as of Sep 24, 2026). Per share that is $10.48; our models calculate a fair value of $8.97 per share.
What do the bullish and bearish scenarios say about SWONF?
Our models span a range for SoftwareOne Holding: cautious scenario $6.86, base $8.97, optimistic $11.07 per share (as of Sep 24, 2026, price $10.48). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SoftwareOne Holding (SWONF)?
Balance-sheet figures for SoftwareOne Holding (as of Sep 24, 2026): return on equity 0.2%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is SWONF from its 52-week high?
SoftwareOne Holding trades at $10.48, about 10% below its 52-week high of $11.70 and 38% above the low of $7.61 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $8.97 is for.
Which stocks are comparable to SoftwareOne Holding?
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 stock attractive at the current price?
The data as of Sep 24, 2026: price $10.48, calculated fair value $8.97 (−14%), Quality Score 48/100, 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 SWONF calculated?
We run SoftwareOne Holding 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 $8.97, 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 14.5 % above its aggregate fair value. SoftwareOne Holding 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 (SWONF)?
The latest price we hold is from Sep 25, 2026 and stands at $10.48. Our model-based fair value is $8.97, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SoftwareOne Holding right now?
Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. 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

How large is the market capitalisation of SoftwareOne Holding (SWONF)?
The market capitalisation of SoftwareOne Holding is $2.2B. 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 (SWONF)?
The price-to-sales ratio of SoftwareOne Holding is 1.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of SoftwareOne Holding (SWONF)?
The dividend yield of SoftwareOne Holding is 1.4%. 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 (SWONF)?
The net margin of SoftwareOne Holding is 0.1% (fiscal year 2025). 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 (SWONF)?
The return on equity (ROE) of SoftwareOne Holding is 0.2% (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 (SWONF)?
On an EBIT basis the return on assets of SoftwareOne Holding is 4.1% (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 (SWONF)?
The operating margin of SoftwareOne Holding is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SoftwareOne Holding (SWONF)?
Revenue at SoftwareOne Holding is growing +55.7% 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 (SWONF)?
Earnings per share at SoftwareOne Holding are growing −66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does SoftwareOne Holding (SWONF) hold?
SoftwareOne Holding 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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