Bucher Industries AG (BCHHF)
Sous-évaluéFondamental
65
Prix
$478.00
Capitalisation boursière
$1.59B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Bucher Industries is a Swiss group of five largely independent divisions making specialized machinery: Kuhn builds farm equipment such as tillage tools, seeders and manure spreaders; Bucher Municipal makes street sweepers and winter maintenance vehicles; Bucher Hydraulics supplies hydraulic components; Bucher Emhart Glass builds equipment for glass container factories; and Bucher Specials makes beverage-processing and automation equipment. Each division sells to a different customer base — farmers, municipalities, industrial equipment makers, glassmakers and beverage producers.
Comment l'entreprise gagne de l'argent
Each division manufactures and sells its own machinery directly to end customers or through dealer networks, so Bucher earns revenue from selling physical equipment rather than from services or recurring fees. Kuhn, the agricultural machinery business, is the largest piece at about 35% of group sales in 2025, and its order intake — tied to farmers' willingness to invest — swings the whole group's results more than any other division, since demand for farm equipment, municipal vehicles and industrial hydraulics does not move in sync.
Chiffre d'affaires par segment
Agricultural machinery for tillage, seeding, hay-making, and manure and fertilizer spreading, sold to farmers worldwide.
Hydraulic components and electrohydraulic systems used inside other manufacturers' machinery, from construction equipment to industrial applications.
Street sweepers, sewer-cleaning vehicles and winter maintenance equipment sold mainly to municipalities and public works contractors.
Equipment and services for manufacturing glass containers, sold to glass-bottle and jar producers.
Equipment for processing beverages plus automation and robotics solutions for industrial customers.
Ce qui stimule la demande
CycliqueKuhn's farm-equipment sales rise and fall with farmers' income and confidence, which in turn depend on crop prices, weather and government support — order intake jumped 16% in 2025 as sentiment improved after a weaker prior period. The other divisions are steadier, tied to municipal budgets and industrial capital spending, but Kuhn's size means its cycle dominates the group's results.
Les arguments en faveur
Buyers argue that Kuhn's 16% jump in order intake in 2025 signals the start of a farm-equipment recovery after a weak prior period, and that Bucher's five diversified, non-synchronized divisions smooth out the group's earnings compared with a pure-play agricultural machinery maker.
Les arguments contre
Sellers fear that Kuhn's size within the group means a stalled recovery in farmer investment, driven by crop prices or trade policy outside the company's control, would drag down consolidated results even if the other four divisions perform well.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18 septembre 2026 with claude-haiku-4-5 — shared with all users
John Deere is the largest maker of hay and forage equipment worldwide and sells balers, mowers and crop-protection machines against Kuhn Group's core lines in both Europe and North America.
Parker Hannifin supplies the valves, pumps and electrohydraulic drive systems that Bucher Hydraulics sells to machinery OEMs in construction, agriculture and lifting equipment.
Through Fendt, Massey Ferguson and Fella, AGCO sells the same hay and forage, tillage and seeding implements that Kuhn Group sells, to the same farmers and contractors through overlapping dealer networks.
CNH's New Holland and Case IH ranges cover balers, mowers, seed drills and sprayers, competing directly with Kuhn Group for the implement budget of the same arable and livestock farms.
The other Swiss-rooted specialist in municipal vehicles, Aebi Schmidt bids for the same city and airport contracts as Bucher Municipal with sweepers, winter-maintenance equipment and agricultural implements.
Alamo's Elgin, Schwarze and Bush Hog brands sell street sweepers, snow-removal equipment and roadside mowers to the same municipalities and highway agencies served by Bucher Municipal.
Bilan & Liquidités
Chiffre d'affaires
$977M
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Résultat net
$61M
12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action
Flux de trésorerie libre
$127M
Capitaux propres totaux
$361M
Passif total
$152M
Ratio de liquidité général
1.55
Couverture des intérêts
-
Dette/EBITDA
0.90
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$687.28
Prix actuel
$478.00
Marge de sécurité
+30.5%
Fourchette de juste valeur
$446.73 - $927.83
Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
26.25
ROE
31.4%
Ratio P/B
2.61
P/FCF
12.59
Marge brute
51.1%
ROIC
24.4%
Radar de rentabilité
Création de valeur (avantage concurrentiel)
ROIC
24.4%
WACC
7.6%
ROIC − WACC
+16.8 pp
Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.
Critères d'analyse fondamentale
Réussi (15)
- Price CAGR 5.31%
- ROIC 24.4%
- Gross Margin 51.1%
- P/FCF 12.59
- P/B Ratio 2.61
- Debt/Equity ratio
- Operating Margin 7.3%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
- ROE 10.2%
- PEG Ratio 1.91
- Earnings Quality (OCF/NI) 1.36
- Net Margin Trend 10.4% vs 9.6%
Échoué (6)
- Price below Graham Number
- DCF valuation (Fairly valued)
- Revenue Growth 5Y 1.2%
- Analyst Consensus 43% Buy
- Earnings Surprise avg 0.7%
- Piotroski F-Score 2/9
Indisponible (6)
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Score F de Piotroski
Préoccupations financières sérieuses
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Participations institutionnelles
Aucune déclaration institutionnelle pour cette entreprise.
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Fabrice Billard | CEO & Member of Executive Board | 55 |
| Mr. Rolf Brändli | CFO, VP of Finance & Administration, Secretary and Member of Executive Board | 57 |
| Ms. Vanessa Valentin | CHRO & Member of Executive Board | 46 |
| Mr. Andreas Brautsch | President Systems Division & Member of Executive Board | 51 |
| Mr. Alvaro Grande | Head of Services of US | - |
| Mr. Martin Zingg | President of Services Division | - |
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for BCHHF, sourced from Markets Gazette.