Estimates

Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-23.

FY28 revenue consensus cut ~7% in six months, EPS only ~3%

The last 30 days show small upward revisions across both years, so the six-month markdown appears to have paused rather than reversed.

Currency: CHF · Scale: money in millions, absolute · Point-in-time consensus; Δ90d is Now versus 90d.

Metric	FY	180d	90d	30d	Now	Δ90d
Revenue	FY2027	CHF 4.11bn	CHF 3.90bn	CHF 3.81bn	CHF 3.83bn	-1.9%
Revenue	FY2028	CHF 4.36bn	CHF 4.17bn	CHF 4.03bn	CHF 4.04bn	-3.0%
EPS (normalized)	FY2027	CHF 10.91	CHF 10.71	CHF 10.53	CHF 10.60	-1.1%
EPS (normalized)	FY2028	CHF 12.09	CHF 11.79	CHF 11.65	CHF 11.73	-0.5%

Margin-led model: mid-single-digit revenue growth, low-double-digit EPS growth

Earnings estimates rise faster than revenue in every visible year, the signature of a margin-expansion story rather than a volume one.

Currency: CHF · Scale: money in millions, absolute · YoY uses the prior fiscal year from the feed; analyst count and range use the first displayed period.

Metric	FY2027E	FY2028E	FY2029E	YoY	Analysts	Low / high
Revenue	CHF 3.83bn	CHF 4.06bn	CHF 4.32bn	+6.1%	18	CHF 3.75bn / CHF 4.06bn
EBITDA	CHF 1.06bn	CHF 1.14bn	CHF 1.23bn	+12.9%	16	CHF 928.41m / CHF 1.11bn
EPS (normalized)	CHF 10.64	CHF 11.80	CHF 13.11	-0.2%	19	CHF 9.04 / CHF 11.49
Gross margin	73.7%	73.7%	73.8%	+2.1pt	—	—

Street cautious: nine holds of 19, targets spanning CHF 170-300

Currency: CHF · Scale: money in millions, absolute · Analyst counts shown explicitly.

Street view	Reading	Analysts
Recommendation mix	Buy 4, Outperform 3, Hold 9, Underperform 1, Sell 2	19
Consensus score	2.68	19
Target price	mean CHF 223.7; median CHF 220.0; high CHF 300.0; low CHF 170.0	19

Where analysts split: FY27 EBITDA and outer-year EPS ranges are wide

The FY29 EBITDA range rests on just 11 analysts, so treat the outer-year spread as thin-coverage noise as much as true disagreement.

Currency: CHF · Scale: money in millions, absolute · Spread/mean is absolute high-low divided by absolute mean.

Metric	Period	Mean	Low–high	Spread/mean	Analysts
EBITDA	FY2027E	CHF 1.06bn	CHF 928.41m–CHF 1.11bn	17.6%	16
EPS (normalized)	FY2029E	CHF 13.11	CHF 12.02–CHF 14.22	16.8%	14
EBITDA	FY2029E	CHF 1.23bn	CHF 1.14bn–CHF 1.30bn	12.9%	11

Coverage thins in the outer years

FY29 EBITDA, net income and GAAP EPS each draw 11-14 analysts versus 16-19 for FY27, so treat the FY29 tape as indicative rather than settled.