Zwahlen et Mayr SA (ZWM) fair value: what the stock is really worth
As of Jul 3, 2026: fair value of Zwahlen et Mayr SA CHF 105, price CHF 144, upside -27.1%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 CHF 112.00 – CHF 295.00 · fair‑value band CHF 86.29 – CHF 132.23 · the CHF 144.00 price screens above the CHF 105.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Zwahlen & Mayr SA engages in welded stainless-steel tubes production and steel construction businesses in Switzerland. The company offers welded, redrawn, seamless, and high-pressure tubes. It also designs, engineering, manufacture and installation of steel frames for commercial and industrial structures.
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Zwahlen & Mayr SA engages in welded stainless-steel tubes production and steel construction businesses in Switzerland. The company offers welded, redrawn, seamless, and high-pressure tubes. It also designs, engineering, manufacture and installation of steel frames for commercial and industrial structures. The company was founded in 1881 and is headquartered in Aigle, Switzerland. Zwahlen & Mayr SA is a subsidiary of Groupe Bader SA.
Stock analysis
Zwahlen et Mayr SA (ZWM) currently trades at CHF 144.00, while our model-based Fair Value estimate is CHF 105.00, 27.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of CHF 347.65 per share, and 1 of the 6 models we run sit above the CHF 144.00 price.
Bear case: the Multiples group reads lowest at CHF 81.40, and 5 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: CHF 86.29 (bear) to CHF 132.23 (bull), the price of CHF 144.00 sits above 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 40/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Zwahlen et Mayr SA reported revenue of CHF 40.7M in FY2024 versus CHF 46.1M in FY2020, a compound −3.0%/yr. Reported net income was −CHF 4.6M in FY2024.
Key figures
Market cap CHF 10.1M · P/S ratio 0.26 · EPS (TTM) CHF −118.35 · Net margin −11.4% · Return on equity −22.8% · Return on assets (EBIT) −0.5% · Operating margin −0.3% · Revenue (TTM) CHF 39.3M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −27%, ZWM screens cheaper than that median.
Fair Value models
Bear CHF 86.29Fair Value CHF 105.00Bull CHF 132.23
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.
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.10/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.3%
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.
−10.0%
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.
−6.6%
Revenue growth 16 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.
−5.9%
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Profit margin (trend) ⓘ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.
2.8% (2019) → −10.4% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+17.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +16.7% a year for the price.
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.Steel · 405 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−27.1% · Below median
Profitability
Return on assets−4.7% · Bottom 25%
Net margin (TTM)−21.1% · Bottom 25%
Operating margin (TTM)−0.3% · Bottom 25%
Growth and dividend
Revenue growth−6.1% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Steel median · lower = cheaper
P/B0.33× · Cheapest 25%
P/S (TTM)0.31× · Cheaper than median
P/FCF32.8× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)0· sector 33
PAST (return on equity)0· sector 18
HEALTH (low debt)99· sector 95
DIVIDEND (yield)0· sector 51
VALUE 0: the price sits above our fair-value range.
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). "Zwahlen et Mayr SA Fair Value". https://www.fairvalue-calculator.com/stock/ZWM
Frequently asked questions
Is Zwahlen et Mayr SA (ZWM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of CHF 105.00 versus the last price from Jul 3, 2026 of CHF 144.00, about −27% upside (overvalued).
What is the fair value of ZWM?
Our model-based fair value for Zwahlen et Mayr SA is CHF 105.00 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Jul 3, 2026): CHF 144.00.
What is the quality score of ZWM?
Zwahlen et Mayr SA has a Quality Score of 40/100. 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 Zwahlen et Mayr SA (ZWM)?
Our model-based price target is the fair value of CHF 105.00 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario CHF 86.29, optimistic scenario CHF 132.23. It is a calculation from audited fundamentals, not an analyst target.
What is the Zwahlen et Mayr SA stock forecast for 2026?
Our models put fair value at CHF 105.00, about −27% upside versus the last price from Jul 3, 2026 of CHF 144.00 (overvalued). Cautious scenario CHF 86.29, optimistic scenario CHF 132.23. The calculation is refreshed regularly with new filings.
What is the revenue of Zwahlen et Mayr SA (ZWM)?
Zwahlen et Mayr SA reported trailing-twelve-month revenue of about CHF 39.3M (latest available figure, as of Sep 24, 2026).
What growth is priced into Zwahlen et Mayr SA (ZWM)?
For today's price to be fair in a discounted-cash-flow model, Zwahlen et Mayr SA would have to grow free cash flow by +17.4 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ZWM use?
Our models discount Zwahlen et Mayr SA at 8.3 %: a base by market capitalisation (nano), damped by beta 0.08, 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 Zwahlen et Mayr SA that is +17.4 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Zwahlen et Mayr SA (ZWM) delivered so far?
Over the past 5 years revenue at Zwahlen et Mayr SA grew -6.6 % a year. The price currently implies +17.4 % 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 Zwahlen et Mayr SA (ZWM) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Zwahlen et Mayr SA (+17.4 % 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 Zwahlen et Mayr SA (ZWM)?
The free-cash-flow yield on the price is 3.68 %: that much free cash flow Zwahlen et Mayr SA produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zwahlen et Mayr SA (ZWM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zwahlen et Mayr SA it is CHF 105.00 per share (as of Sep 24, 2026), against a price of CHF 144.00. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Zwahlen et Mayr SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ZWM trades above its calculated fair value: price CHF 144.00, fair value CHF 105.00, a gap of about −27% (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 ZWM?
No. The price is what the market pays today (CHF 144.00); the fair value is what the company's own numbers justify (CHF 105.00). For Zwahlen et Mayr SA the two are CHF 39.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zwahlen et Mayr SA worth?
The market values Zwahlen et Mayr SA at about CHF 10.1M (market capitalisation, as of Sep 24, 2026). Per share that is CHF 144.00; our models calculate a fair value of CHF 105.00 per share.
What do the bullish and bearish scenarios say about ZWM?
Our models span a range for Zwahlen et Mayr SA: cautious scenario CHF 86.29, base CHF 105.00, optimistic CHF 132.23 per share (as of Sep 24, 2026, price CHF 144.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Zwahlen et Mayr SA (ZWM)?
Balance-sheet figures for Zwahlen et Mayr SA (as of Sep 24, 2026): return on equity −22.8%, debt of 0.01 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is ZWM from its 52-week high?
Zwahlen et Mayr SA trades at CHF 144.00, about 20% below its 52-week high of CHF 180.00 and 1% above the low of CHF 143.00 (as of Jul 3, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 105.00 is for.
Which stocks are comparable to Zwahlen et Mayr SA?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Zwahlen et Mayr SA stock attractive at the current price?
The data as of Sep 24, 2026: price CHF 144.00, calculated fair value CHF 105.00 (−27%), Quality Score 40/100, from 6 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 ZWM calculated?
We run Zwahlen et Mayr SA through 6 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 CHF 105.00, 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. Zwahlen et Mayr SA 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 Zwahlen et Mayr SA (ZWM)?
The latest price we hold is from Jul 3, 2026 and stands at CHF 144.00. Our model-based fair value is CHF 105.00, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zwahlen et Mayr SA right now?
The price sits above even our optimistic bull case (CHF 132.23). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Zwahlen et Mayr SA
How large is the market capitalisation of Zwahlen et Mayr SA (ZWM)?
The market capitalisation of Zwahlen et Mayr SA is CHF 10.1M. 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 Zwahlen et Mayr SA (ZWM)?
The price-to-sales ratio of Zwahlen et Mayr SA is 0.26 (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 Zwahlen et Mayr SA (ZWM)?
Earnings per share at Zwahlen et Mayr SA are CHF −118.35. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zwahlen et Mayr SA (ZWM)?
The net margin of Zwahlen et Mayr SA is −11.4% (fiscal year 2024). 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 Zwahlen et Mayr SA (ZWM)?
The return on equity (ROE) of Zwahlen et Mayr SA is −22.8% (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 Zwahlen et Mayr SA (ZWM)?
On an EBIT basis the return on assets of Zwahlen et Mayr SA is −0.5% (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 Zwahlen et Mayr SA (ZWM)?
The operating margin of Zwahlen et Mayr SA is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zwahlen et Mayr SA (ZWM)?
Revenue at Zwahlen et Mayr SA is growing −6.1% versus a year earlier (3y avg −10.0%). 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 Zwahlen et Mayr SA (ZWM)?
Earnings per share at Zwahlen et Mayr SA are growing −3.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zwahlen et Mayr SA (ZWM) carry?
The net debt of Zwahlen et Mayr SA is CHF 5.9M (fiscal year 2024, ≈ 15.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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