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Chocoladefabriken Lindt & Spruengli AG Part (LISP) Fair Value & Analysis

Consumer Defensive · CH · Market cap CHF 22.2B · ISIN CH0010570767

What is Chocoladefabriken Lindt & Spruengli AG Part really worth?

CL Chocoladefabriken Lindt & Spruengli AG Part LISP · SW
PriceCHF 8,475
Fair ValueCHF 4,636
Upside−45.3%
Quality63/100

A solid business, but trading 83% above our fair value of CHF 4,636.

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Strengths

Solidly profitable · 12.2% net margin
Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +8.1 %/yr)
!Mixed vs. peers (6/14)
!Moderate moat 63/100

For context

·2.12% dividend yield
Evidence: High Range CHF 2,503 – CHF 7,431

Fair value as of: Aug 30, 2026

From 26 valuation models · updated 6 days ago

Share price −9.3% 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 7,431). The favourable scenario is already priced in.
  • The model range is unusually wide (CHF 2,503 to CHF 7,431). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

CHF 13,411 CHF 8,164 Fair Value CHF 4,636 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range CHF 8,164 – CHF 13,411 · fair‑value band CHF 2,503 – CHF 7,431 · the CHF 8,475 price screens above the CHF 4,636 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Chocoladefabriken Lindt & Spruengli AG Part (LISP) currently trades at CHF 8,475, while our model-based Fair Value estimate is CHF 4,636, implying the stock looks roughly 82.8% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of CHF 5,716 per share, and 0 of the 26 models we run sit above the CHF 8,475 price. Bear case: the Asset-Based group reads lowest at CHF 1,432, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Chocoladefabriken Lindt & Spruengli AG Part generated revenue of CHF 6.0B at a net margin of 12.2%. Revenue grew 7.5% year over year. It earns a return on equity of 14.8%. Net debt stands at CHF 1.1B. Fundamentals as of Aug 30, 2026

Our scenario range runs from CHF 2,503 (bear case) to CHF 7,431 (bull case); at CHF 8,475, 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 share trades about 37% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −36% fair-value upside, at −45%, LISP screens richer 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 90.64 per share, which is 2.0 % 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 974.19 CHF 1,605 CHF 2,552 79
Growth DCF CHF 998.21 CHF 1,563 CHF 2,363 78
Owner Earnings CHF 3,369 CHF 5,267 CHF 8,117 75
All 26 models by family
DCF Models
FCF DCF CHF 974.19 CHF 1,605 CHF 2,552 79
Owner Earnings CHF 3,369 CHF 5,267 CHF 8,117 75
5Y Revenue Exit CHF 1,851 CHF 3,297 CHF 5,150 71
5Y EBITDA Exit CHF 3,272 CHF 5,924 CHF 9,018 74
5Y P/E Exit CHF 3,040 CHF 5,495 CHF 8,059 70
10Y Revenue Exit CHF 1,439 CHF 2,681 CHF 4,354 65
10Y EBITDA Exit CHF 2,421 CHF 4,493 CHF 7,275 66
10Y P/E Exit CHF 2,274 CHF 4,197 CHF 6,550 62
Earnings-Based
Graham-Dodd CHF 2,133 CHF 6,245 CHF 8,253 65
Lynch FV CHF 1,302 CHF 1,860 CHF 2,418 61
PEG = 1.0 CHF 1,302 CHF 1,860 CHF 2,418 57
EPV CHF 3,003 CHF 3,540 CHF 4,010 74
Dividend Discount
Gordon GGM CHF 1,366 CHF 2,839 CHF 4,504 66
DDM Multi-Stage CHF 1,366 CHF 2,199 CHF 2,980 66
Multiples
P/E Multiple CHF 4,940 CHF 6,587 CHF 8,234 63
P/S Multiple CHF 3,062 CHF 4,083 CHF 5,104 58
P/B Multiple CHF 3,999 CHF 5,333 CHF 6,666 55
EV/EBIT CHF 5,177 CHF 6,976 CHF 8,774 66
EV/EBITDA CHF 5,126 CHF 6,908 CHF 8,690 67
EV/Revenue CHF 2,461 CHF 3,610 CHF 4,758 53
Asset-Based
NCAV (Graham) CHF 1,069 CHF 1,432 CHF 2,138 54
Growth DCF
Growth DCF CHF 998.21 CHF 1,563 CHF 2,363 78
Rev-Margin DCF CHF 1,851 CHF 3,277 CHF 4,877 71
Economic Profit
Residual Income CHF 2,121 CHF 2,685 CHF 6,127 70
ROIC Compounder CHF 3,168 CHF 4,062 CHF 5,135 72
Growth Earnings
Growth-Adj P/E CHF 4,001 CHF 5,716 CHF 7,431 67

Widest divergence: Growth Earnings (CHF 5,716) versus Asset-Based (CHF 1,432). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 29.7 as of Jun 1, 2026
P/S ratio 3.65 P/E × margin
EPS (TTM) CHF 313.58 price ÷ EPS = P/E 29.7
Dividend yield 2.1% payout 57.4%
Net margin 12.3% FY2025
Return on equity 14.8% TTM
More key figures
Profitability
Return on assets (EBIT) 9.4% avg 5y
Operating margin 20.1% TTM
Growth
Revenue (TTM) CHF 6.0B TTM
Revenue growth (YoY) +7.5% 3y avg +6.0%
EPS growth (YoY) +19.4%
Balance sheet & cash flow
Free cash flow CHF 247M FY2025
Net debt CHF 1.1B FY2025 · ≈ 4.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 59 · Market factors (momentum, volatility) 35

Profitability 51
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 87
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

Chocoladefabriken Lindt & Sprüngli AG, together with its subsidiaries, engages in the development, manufacture, and sale of chocolate products worldwide. The company sells its products under the Lindt, Ghirardelli, Russell Stover, Whitman's, Caffarel, Hofbauer and Küfferle, and Pangburn's, Gold Bunny, and Lindor brands.

Full company description

Chocoladefabriken Lindt & Sprüngli AG, together with its subsidiaries, engages in the development, manufacture, and sale of chocolate products worldwide. The company sells its products under the Lindt, Ghirardelli, Russell Stover, Whitman's, Caffarel, Hofbauer and Küfferle, and Pangburn's, Gold Bunny, and Lindor brands. It serves customers through a network of distributors, as well as through own stores. The company was founded in 1845 and is headquartered in Kilchberg, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chocoladefabriken Lindt & Spruengli AG Part reported revenue of CHF 5.9B in FY2025 versus CHF 4.6B in FY2021, a compound +6.6%/yr. Reported net income was CHF 727M in FY2025, compounding +10.3%/yr from FY2021.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
CHF 5.9B
Latest YoY
+8.2%
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.
+6.0%
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.
+8.1%
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.
+5.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+11.3% (9.2 + 2.1)
Revenue +6.6%/yr
FY21 CHF 4.6B
FY22 CHF 5.0B
FY23 CHF 5.2B
FY24 CHF 5.5B
FY25 CHF 5.9B
Net income +10.3%/yr
FY21 CHF 491M
FY22 CHF 570M
FY23 CHF 671M
FY24 CHF 672M
FY25 CHF 727M
Character of growth · EPS growth decomposed (2014-2025) +6.9 % p.a.
Revenue per share +4.7 %

of which total revenue +4.7 % · buybacks/dilution +0.0 %

EBIT margin +1.5 %
Tax rate +0.9 %
Residual (interest, one-offs) −0.4 %

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).

LISP screens 83% overvalued. Compare with Mondelez International, Inc →

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Cite: Fair Value Calculator (2026). "Chocoladefabriken Lindt & Spruengli AG Part Fair Value". https://www.fairvalue-calculator.com/stock/LISP

Peer Group

Confectioners · 80 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 63 · Top 25%
Fair Value upside −45% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 29.7× · Pricier than median
P/B 5.54× · Pricier than 75% of peers
P/S (TTM) 4.61× · Pricier than 75% of peers
P/FCF 111.0× · Pricier than 75% of peers
EV/EBITDA 24.1× · 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 24
FUTURE38 · sector 0
PAST59 · sector 21
HEALTH88 · sector 92
DIVIDEND42 · sector 53

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 Confectioners stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Mondelez International, Inc MDLZ $62.36 $27.36 −56%
The Hershey Company HSY $179.05 $91.25 −49%
Barry Callebaut AG BARN CHF 1,115 CHF 711.91 −36%
ORION Corp 271560 124,600 KRW 203,315 KRW +63%
Tootsie Roll Industries, Inc TROLB $39.00 $22.21 −43%
Guangxi Yuegui Guangye Holdings 000833 ¥20.48 ¥9.09 −56%
Cloetta AB CLAB kr 54.85 kr 59.12 +8%
Balrampur Chini Mills Limited BALRAMCHIN ₹652.15 ₹318.59 −51%
PT Yupi Indo Jelly Gum Tbk YUPI 1,295 IDR 1,140 IDR −12%
ORION Holdings 001800 25,300 KRW 42,237 KRW +67%

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Frequently asked questions

Is Chocoladefabriken Lindt & Spruengli AG Part (LISP) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of CHF 4,636 versus a price of CHF 8,475, about −45% upside (overvalued).
What is the fair value of LISP?
Our model-based fair value for Chocoladefabriken Lindt & Spruengli AG Part is CHF 4,636 (as of Aug 30, 2026), built from audited fundamentals. The current price: CHF 8,475.
What is the quality score of LISP?
Chocoladefabriken Lindt & Spruengli AG Part has a Quality Score of 63/100. 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 Chocoladefabriken Lindt & Spruengli AG Part (LISP)?
Chocoladefabriken Lindt & Spruengli AG Part reported trailing-twelve-month revenue of about CHF 6.0B (latest available figure, as of Aug 30, 2026).
What is the net profit margin of LISP?
The net profit margin of Chocoladefabriken Lindt & Spruengli AG Part is about 12.2%, meaning it keeps roughly 12.2% of revenue as net income. Based on the latest reported figures.
Does Chocoladefabriken Lindt & Spruengli AG Part pay a dividend?
Chocoladefabriken Lindt & Spruengli AG Part currently shows a dividend yield of about 2.12% relative to its recent price (as of Aug 30, 2026).
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