Zehnder Group (ZEHN) Fair Value & Analysis
Industrials · CH · Market cap CHF 704M
Fair value as of: Jul 17, 2026
From 25 valuation models · updated 23 days ago
Fair value updated Jul 17, 2026, revised from CHF 71.88 to CHF 66.42 (−7.6%) since Jul 7, 2026. Share price +17.9% over the past month.
A strong business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (CHF 48.64 to CHF 90.53) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 39.69 – CHF 95.04 · fair‑value band CHF 48.64 – CHF 90.53 · the CHF 70.50 price screens above the CHF 66.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Zehnder Group (ZEHN) currently trades at CHF 70.50, while our model-based Fair Value estimate is CHF 66.42, implying the stock looks roughly 5.8% fairly valued today. The Quality Score stands at 77/100 (high quality), in the Industrials 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, Zehnder Group generated revenue of CHF 763M at a net margin of 6.1%. Revenue grew 4.7% year over year. It earns a return on equity of 18.8%. The balance sheet holds a net cash position of CHF 32.8M. Fundamentals as of Jul 17, 2026
Our scenario range runs from CHF 48.64 (bear case) to CHF 90.53 (bull case); at CHF 70.50, 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 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at -6%, ZEHN 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.
All 25 models by family
Widest divergence: Multiples (CHF 92.91) versus Dividend Discount (CHF 13.75). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 37
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
Zehnder Group AG, together with its subsidiaries, develops, manufactures, and sells indoor climate systems in Europe, North America, and China. It operates through two segments, Ventilation and Radiators. The company offers decorative radiators, heating and cooling ceiling systems, indoor ventilation systems, heat exchangers, and clean air systems.
Full company description
Zehnder Group AG, together with its subsidiaries, develops, manufactures, and sells indoor climate systems in Europe, North America, and China. It operates through two segments, Ventilation and Radiators. The company offers decorative radiators, heating and cooling ceiling systems, indoor ventilation systems, heat exchangers, and clean air systems. It operates under the Zehnder, Acova, Caladair, CORE, Enervent, Filtech, Greenwood, Siber, Lifebreath, Zehnder Rittling, Runtal, Fortuneway, and Nather brands. Zehnder Group AG was founded in 1895 and is headquartered in Gränichen, Switzerland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zehnder Group reported revenue of CHF 761M in FY2025 versus CHF 699M in FY2021, a compound +2.1%/yr. Reported net income was CHF 46.6M in FY2025, compounding −6.0%/yr from FY2021.
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Peer Group
Building Products & Equipment · 247 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.
Valuation Multiples vs Building Products & Equipment median · lower = cheaper
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.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Trane Technologies plc TT | $469.98 | $212.34 | -55% |
| Johnson Controls International plc JCI | $142.81 | $45.65 | -68% |
| Carrier Global Corporation CARR | $68.61 | $17.35 | -75% |
| Compagnie de Saint-Gobain S.A SGO | €76.62 | €101.60 | +33% |
| Geberit AG GEBN | CHF 523.20 | CHF 307.66 | -41% |
| Lennox International Inc LII | $543.93 | $363.09 | -33% |
| Kingspan Group KRX | €87.30 | €70.76 | -19% |
| Masco Corporation MAS | $78.04 | $54.36 | -30% |
| PT Impack Pratama Industri Tbk, IMPC | 1,420 IDR | 179.76 IDR | -87% |
| NIBE Industrier AB NIBEB | kr 36.03 | kr 25.37 | -30% |
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Frequently asked questions
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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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