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Inficon Holding (IFCN) Fair Value & Analysis

Technology · CH · Market cap CHF 4.1B · ISIN CH1431598916

What is Inficon Holding really worth?

IH Inficon Holding IFCN · SW
PriceCHF 168.80
Fair ValueCHF 78.69
Upside−53.4%
Quality59/100

A solid business, but trading 115% above our fair value of CHF 78.69.

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Strengths

Healthy Growth (revenue 5y +12.1 %/yr)
Solidly profitable · 12.7% net margin
Low debt · generates free cash flow
Wide moat 67/100

Risks

!Mixed vs. peers (7/15)

For context

·1.49% dividend yield
Evidence: High Range CHF 48.38 – CHF 117.98

Fair value as of: Aug 19, 2026

From 26 valuation models · updated 16 days ago

Share price −3.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (CHF 117.98). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (CHF 48.38 to CHF 117.98) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

CHF 187.80 CHF 59.41 Fair Value CHF 78.69 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range CHF 59.41 – CHF 187.80 · fair‑value band CHF 48.38 – CHF 117.98 · the CHF 168.80 price screens above the CHF 78.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Inficon Holding (IFCN) currently trades at CHF 168.80, while our model-based Fair Value estimate is CHF 78.69, implying the stock looks roughly 114.5% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of CHF 92.10 per share, and 0 of the 26 models we run sit above the CHF 168.80 price. Bear case: the Asset-Based group reads lowest at CHF 11.68, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Inficon Holding generated revenue of CHF 674M at a net margin of 12.7%. Revenue declined 0.5% year over year. It earns a return on equity of 21.2%. The balance sheet holds a net cash position of CHF 81.2M. Fundamentals as of Aug 19, 2026

Our scenario range runs from CHF 48.38 (bear case) to CHF 117.98 (bull case); at CHF 168.80, the current price sits above 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 88% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −55% fair-value upside, at −53%, IFCN screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly CHF 0.2152 per share, which is 0.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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. Evidence
Highest evidence
FCF DCF CHF 38.17 CHF 57.20 CHF 85.99 80
Growth DCF CHF 38.44 CHF 54.82 CHF 77.87 79
Owner Earnings CHF 46.23 CHF 69.93 CHF 105.80 76
All 26 models by family
DCF Models
FCF DCF CHF 38.17 CHF 57.20 CHF 85.99 80
Owner Earnings CHF 46.23 CHF 69.93 CHF 105.80 76
5Y Revenue Exit CHF 44.13 CHF 70.53 CHF 104.91 72
5Y EBITDA Exit CHF 61.48 CHF 103.77 CHF 154.36 74
5Y P/E Exit CHF 61.65 CHF 104.11 CHF 149.88 70
10Y Revenue Exit CHF 40.27 CHF 63.69 CHF 96.46 66
10Y EBITDA Exit CHF 52.50 CHF 86.55 CHF 134.19 67
10Y P/E Exit CHF 52.61 CHF 86.78 CHF 130.77 63
Earnings-Based
Graham-Dodd CHF 25.01 CHF 87.16 CHF 117.15 64
Lynch FV CHF 20.26 CHF 28.94 CHF 37.62 61
PEG = 1.0 CHF 20.26 CHF 28.94 CHF 37.62 57
EPV CHF 40.90 CHF 46.50 CHF 51.34 74
Dividend Discount
Gordon GGM CHF 21.89 CHF 43.62 CHF 66.06 67
DDM Multi-Stage CHF 21.89 CHF 37.50 CHF 46.05 67
Multiples
P/E Multiple CHF 77.22 CHF 102.96 CHF 128.70 63
P/S Multiple CHF 46.88 CHF 62.51 CHF 78.14 58
P/B Multiple CHF 46.88 CHF 62.51 CHF 78.14 55
EV/EBIT CHF 91.98 CHF 120.85 CHF 149.71 66
EV/EBITDA CHF 82.31 CHF 107.95 CHF 133.59 67
EV/Revenue CHF 49.17 CHF 67.93 CHF 86.69 54
Asset-Based
NCAV (Graham) CHF 8.72 CHF 11.68 CHF 17.43 54
Growth DCF
Growth DCF CHF 38.44 CHF 54.82 CHF 77.87 79
Rev-Margin DCF CHF 44.13 CHF 70.19 CHF 101.00 72
Economic Profit
Residual Income CHF 22.10 CHF 27.20 CHF 70.00 68
ROIC Compounder CHF 43.48 CHF 52.72 CHF 62.99 72
Growth Earnings
Growth-Adj P/E CHF 64.47 CHF 92.10 CHF 119.73 67

Widest divergence: Growth Earnings (CHF 92.10) versus Asset-Based (CHF 11.68). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 60.9
P/S ratio 7.76 P/E × margin
EPS (TTM) CHF 2.77 price ÷ EPS = P/E 60.9
Dividend yield 1.5% payout 91.0%
Net margin 12.7% FY2025
Return on equity 21.2% TTM
More key figures
Profitability
Return on assets (EBIT) 25.1% avg 5y
Operating margin 15.8% TTM
Growth
Revenue (TTM) CHF 674M TTM
Revenue growth (YoY) −0.5% 3y avg +6.7%
EPS growth (YoY) −29.8%
Balance sheet & cash flow
Free cash flow CHF 72.0M FY2025
Net cash CHF 81.2M FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 70

Profitability 83
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 39
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

INFICON Holding AG develops instruments for gas analysis, measurement, and control in Switzerland and internationally. The company offers industrial gas analyzers, mass spectrometers, and process control sensors; vacuum gauges, controllers, components, and feedthroughs; leak detectors; thin film controllers; application-based software solutions; quartz …

Full company description

INFICON Holding AG develops instruments for gas analysis, measurement, and control in Switzerland and internationally. The company offers industrial gas analyzers, mass spectrometers, and process control sensors; vacuum gauges, controllers, components, and feedthroughs; leak detectors; thin film controllers; application-based software solutions; quartz crystal, RF sensing, and xParts coating technologies; chemical detectors and monitors; micro gas chromatography; and service tools. It also provides toxic chemical analysis products for emergency response, security, and environmental monitoring, as well as instruments for energy and petrochemical applications. The company's analysis, measurement, and control products are used for gas leak detection in air conditioning, refrigeration, and automotive manufacturing; and for equipment manufacturers and end-users in the fabrication of semiconductors and thin film coatings for optics, flat panel displays, solar cells, LED lighting, and industrial vacuum coating applications. Its products are also used in the life sciences, research, aerospace, packaging, heat treatment, laser cutting, and other industrial sectors. The company was founded in 2000 and is based in Bad Ragaz, Switzerland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inficon Holding reported revenue of $706M in FY2025 versus $516M in FY2021, a compound +8.2%/yr. Reported net income was $89.9M in FY2025, compounding +2.9%/yr from FY2021.

Growth Quality 96/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 706M
Latest YoY
+5.2%
Avg. revenue growth/yr (3Y) 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.
+6.7%
Avg. revenue growth/yr (5Y) 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.
+12.1%
Avg. revenue growth/yr (26Y) 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.
+6.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+12.7% (11.2 + 1.5)
Revenue +8.2%/yr
FY21 $516M
FY22 $581M
FY23 $674M
FY24 $671M
FY25 $706M
Net income +2.9%/yr
FY21 $80.3M
FY22 $88.5M
FY23 $106M
FY24 $113M
FY25 $89.9M
Character of growth · EPS growth decomposed (2014-2025) +11.8 % p.a.
Revenue per share +9.3 %

of which total revenue +9.7 % · buybacks/dilution −0.4 %

EBIT margin +2.0 %
Tax rate +0.4 %
Residual (interest, one-offs) −0.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

IFCN screens 115% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Inficon Holding Fair Value". https://www.fairvalue-calculator.com/stock/IFCN

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Scientific & Technical Instruments · 164 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.

Quality Score 59 · Above median
Fair Value upside −53% · Below median
Return on equity (TTM) 21% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 16% · Above median
Revenue growth −1% · Below median
Dividend yield (TTM) 1.5% · Above median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 60.9× · Pricier than median
P/B 11.84× · Pricier than 75% of peers
P/S (TTM) 7.49× · Pricier than 75% of peers
P/FCF 70.1× · Pricier than 75% of peers
EV/EBITDA 37.3× · Pricier than median
PEG 8.15× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 32
PAST85 · sector 24
HEALTH100 · sector 98
DIVIDEND30 · sector 21

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $316.13 $107.22 −66%
Garmin Ltd GRMN $309.98 $139.44 −55%
Teledyne Technologies Incorporated TDY $607.87 $488.95 −20%
Chroma ATE Inc 2360 2,195 TWD 322.57 TWD −85%
Hexagon AB HEXAB kr 99.00 kr 74.09 −25%
MKS Inc MKSI $281.60 $76.00 −73%
AVIC Chengdu Aircraft Company 302132 ¥60.00 ¥24.39 −59%
Fortive Corporation FTV $61.54 $33.48 −46%
Trimble Inc TRMB $56.99 $34.12 −40%
Cognex Corporation CGNX $60.79 $19.25 −68%

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Frequently asked questions

Is Inficon Holding (IFCN) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of CHF 78.69 versus a price of CHF 168.80, about −53% upside (overvalued).
What is the fair value of IFCN?
Our model-based fair value for Inficon Holding is CHF 78.69 (as of Aug 19, 2026), built from audited fundamentals. The current price: CHF 168.80.
What is the quality score of IFCN?
Inficon Holding has a Quality Score of 59/100. 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 revenue of Inficon Holding (IFCN)?
Inficon Holding reported trailing-twelve-month revenue of about CHF 674M (latest available figure, as of Aug 19, 2026).
What is the net profit margin of IFCN?
The net profit margin of Inficon Holding is about 12.7%, meaning it keeps roughly 12.7% of revenue as net income. Based on the latest reported figures.
Does Inficon Holding pay a dividend?
Inficon Holding currently shows a dividend yield of about 1.49% relative to its recent price (as of Aug 19, 2026).
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