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SoftwareOne Holding (SWON) Fair Value & Analysis

Technology · CH · Market cap CHF 1.8B

SH SoftwareOne Holding SWON · SW
PriceCHF 8.95
Fair ValueCHF 13.27
Upside+48.3%
Quality47/100
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Healthy Growth
Thin margins · 0.1% net margin
Low debt · generates free cash flow
1.80% dividend yield
Trails peers (5/13)
Narrow moat 30/100
Evidence: High Range CHF 10.15 – CHF 16.38 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from CHF 1.96 to CHF 13.27 (+576.9%) since Jul 13, 2026. Share price +9.8% over the past month.

Below-average quality, screening 48% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (CHF 10.15). The market is more pessimistic than our downside scenario.
  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

CHF 22.50 CHF 4.43 Fair Value CHF 13.27 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range CHF 4.43 – CHF 22.50 · fair‑value band CHF 10.15 – CHF 16.38 · the CHF 8.95 price screens below the CHF 13.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

SoftwareOne Holding (SWON) currently trades at CHF 8.95, while our model-based Fair Value estimate is CHF 13.27, implying the stock looks roughly 48.3% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, SoftwareOne Holding generated revenue of CHF 1.2B at a net margin of 0.1%. Revenue grew 55.7% year over year. It earns a return on equity of 0.2%. The balance sheet holds a net cash position of CHF 345M. Fundamentals as of Aug 13, 2026

Our scenario range runs from CHF 10.15 (bear case) to CHF 16.38 (bull case); at CHF 8.95, the current price sits below 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 1% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at 48%, SWON screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF CHF 9.97 CHF 12.14 CHF 15.29 80
Residual Income CHF 2.84 CHF 2.58 CHF 1.55 76
Rev-Margin DCF CHF 7.31 CHF 9.23 CHF 11.59 74
All 24 models by family
DCF Models
FCF DCF CHF 9.78 CHF 12.07 CHF 15.65 38
Owner Earnings CHF 4.08 CHF 4.75 CHF 5.79 31
5Y Revenue Exit CHF 7.31 CHF 9.06 CHF 11.45 39
5Y EBITDA Exit CHF 11.99 CHF 17.09 CHF 23.47 41
5Y P/E Exit CHF 5.21 CHF 5.46 CHF 5.75 38
10Y Revenue Exit CHF 8.23 CHF 9.83 CHF 11.61 36
10Y EBITDA Exit CHF 10.96 CHF 14.70 CHF 19.01 37
10Y P/E Exit CHF 7.14 CHF 7.65 CHF 8.10 35
Earnings-Based
Graham-Dodd CHF 0.0300 CHF 0.0500 CHF 0.0600 54
EPV CHF 4.24 CHF 4.58 CHF 4.86 59
Dividend Discount
Gordon GGM CHF 1.65 CHF 2.08 CHF 2.48 70
DDM Multi-Stage CHF 1.65 CHF 2.14 CHF 2.66 61
Multiples
P/E Multiple CHF 0.0900 CHF 0.1200 CHF 0.1500 63
P/S Multiple CHF 0.0500 CHF 0.0700 CHF 0.0900 58
P/B Multiple CHF 0.0500 CHF 0.0700 CHF 0.0900 55
EV/EBIT CHF 9.72 CHF 12.38 CHF 15.04 53
EV/EBITDA CHF 15.50 CHF 20.09 CHF 24.67 54
EV/Revenue CHF 5.77 CHF 7.50 CHF 9.23 43
Asset-Based
NCAV (Graham) CHF 2.26 CHF 3.03 CHF 4.53 50
Growth DCF
Growth DCF CHF 9.97 CHF 12.14 CHF 15.29 80
Rev-Margin DCF CHF 7.31 CHF 9.23 CHF 11.59 74
Economic Profit
Residual Income CHF 2.84 CHF 2.58 CHF 1.55 76
ROIC Compounder CHF 4.24 CHF 4.59 CHF 4.95 72
Growth Earnings
Growth-Adj P/E CHF 0.0600 CHF 0.0900 CHF 0.1100 68

Widest divergence: Growth DCF (CHF 9.23) versus Earnings-Based (CHF 0.0500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) CHF 1.2B
Revenue growth (YoY) +55.7%
Net margin 0.1%
Return on equity 0.2%
Free cash flow CHF 203M FY2025
Operating margin 7.5%
More key figures
Dividend yield 1.8%
EPS growth (YoY) -66.7%
Net cash CHF 345M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 66

Profitability 13
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 86
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.

About the company

SoftwareOne Holding AG, together with its subsidiaries, provides software and cloud solutions in Germany, Austria, Switzerland, Middle East and Africa, Northern Europe, Central and Eastern Europe, the United States of America, Canada, Latin America, and Asia Pacific.

Full company description

SoftwareOne Holding AG, together with its subsidiaries, provides software and cloud solutions in Germany, Austria, Switzerland, Middle East and Africa, Northern Europe, Central and Eastern Europe, the United States of America, Canada, Latin America, and Asia Pacific. The company develops and delivers the technology solutions that modernize applications and software in the cloud. It provides data and AI; application; SAP; and Cloud services; IT portfolio management services, such as application portfolio management, publisher advisory, IT asset management, SaaS management, and sourcing and demand management, as well as workplace licensing and support, workplace AI, workplace productivity, workplace security, and workplace adoption services. It serves large enterprises, corporates, small and medium-sized enterprises, and public sector organizations. It has strategic agreement with ServiceNow to transform IT modernization in the cloud. SoftwareOne Holding AG was founded in 2000 and is headquartered in Stans, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SoftwareOne Holding reported revenue of CHF 1.2B in FY2025 versus CHF 914M in FY2021, a compound +8.0%/yr. Reported net income was CHF 900K in FY2025, compounding −70.4%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 1.2B
Latest YoY
+22.5%
Avg. 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.
+8.4%
Avg. 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.
+8.4%
Avg. growth/yr (9Y) 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.
−9.5%
Revenue +8.0%/yr
FY21 CHF 914M
FY22 CHF 976M
FY23 CHF 1.0B
FY24 CHF 1.0B
FY25 CHF 1.2B
Net income −70.4%/yr
FY21 CHF 118M
FY22 −CHF 58.3M
FY23 CHF 21.4M
FY24 −CHF 1.5M
FY25 CHF 900K

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

Peer Group

Software - Application · 713 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 47 · Below median
Fair Value upside +48% · Top 25%
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 8% · Above median
Revenue growth 56% · Top 25%
Dividend yield (TTM) 1.8% · Above median
Debt / equity 0.05× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 2.31× · Pricier than median
P/S (TTM) 1.81× · Cheaper than median
P/FCF 11.1× · Pricier than median
EV/EBITDA 16.8× · Pricier than median

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.

VALUE 98 · sector 4
FUTURE 100 · sector 38
PAST 1 · sector 13
HEALTH 98 · sector 98
DIVIDEND 36 · sector 27

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.46 C$16.26 +30%
Shopify Inc SHOP C$209.78 C$28.76 -86%
Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is SoftwareOne Holding (SWON) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of CHF 13.27 versus a price of CHF 8.95, about +48% (undervalued).
What is the fair value of SWON?
Our model-based fair value for SoftwareOne Holding is CHF 13.27 (as of Aug 13, 2026), built from audited fundamentals. The current price is CHF 8.95.
What is the quality score of SWON?
SoftwareOne Holding has a Quality Score of 47/100. 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 SoftwareOne Holding (SWON)?
SoftwareOne Holding reported trailing-twelve-month revenue of about CHF 1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SWON?
The net profit margin of SoftwareOne Holding is about 0.1%, meaning it keeps roughly 0.1% of revenue as net income. Based on the latest reported figures.
Does SoftwareOne Holding pay a dividend?
SoftwareOne Holding currently shows a dividend yield of about 1.83% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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