Bucher Industries AG (BCHHF)
割安ファンダメンタル
65
株価
$475.00
時価総額
$1.59B
パート1 · 企業の価値
概要
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.
収益の仕組み
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.
セグメント別売上高
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.
需要を左右する要因
景気循環型Kuhn'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.
強気材料
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.
弱気材料
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 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月18日 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.
貸借対照表と流動性
売上高
$977M
直近の公表四半期までの12か月 — 1株当たり指標からの推計
純利益
$61M
直近の公表四半期までの12か月 — 1株当たり指標からの推計
フリーキャッシュフロー
$127M
自己資本合計
$361M
負債合計
$152M
流動比率
1.55
利払い倍率
-
負債/EBITDA
0.90
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$687.28
現在株価
$475.00
安全マージン
+30.9%
適正価値レンジ
$446.73 - $927.83
使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。
推定方法
バリュエーション指標
P/E レシオ
26.25
ROE
31.4%
P/B レシオ
2.61
P/FCF
12.59
粗利益率
51.1%
ROIC
24.4%
収益性レーダー
価値創造（経済的モート）
ROIC
24.4%
WACC
7.6%
ROIC − WACC
+16.8 pp
ROICが資本コストを上回っています。企業は株主のために価値を創出しています。
ファンダメンタル分析基準
合格（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%
不合格（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
データなし（6）
- EPS data insufficient
- Dividend Payout NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Piotroski F-スコア
重大な財務上の懸念
利益の質
高品質：利益はキャッシュに裏付けられている
株式希薄化
株式を買い戻している。株主に友好的
機関投資家の保有
この企業について機関投資家の報告はありません。
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| 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 | - |
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for BCHHF, sourced from Markets Gazette.