| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | 135.10 | -73 |
| Graham Formula | 5.40 | -99 |
Schaffner Holding AG is a Swiss-based leader in electromagnetic compatibility (EMC) filter solutions, serving industrial and automotive markets. Founded in 1962 and headquartered in Luterbach, Switzerland, the company specializes in EMC/EMI filters, chokes, and power quality products essential for machinery, robotics, building technology, energy management, and electromobility. Schaffner operates through two key segments: Industrial and Automotive, offering a diverse product portfolio including DC filters, single and three-phase filters, harmonic filters, and automotive-specific components like low-frequency antennas and EMI filters. With a strong presence in high-growth sectors such as electromobility and industrial automation, Schaffner plays a critical role in ensuring electromagnetic safety and efficiency. The company’s Swiss engineering heritage and focus on innovation position it as a trusted partner for global industrial and automotive clients.
Schaffner Holding AG presents a niche investment opportunity in the growing EMC and power quality solutions market, particularly benefiting from trends in electromobility and industrial automation. The company’s FY 2022 revenue of CHF 158.2 million and net income of CHF 12.6 million reflect stable performance, though operating cash flow (CHF 3.6 million) was modest relative to capital expenditures (CHF -5.8 million). With a low beta (0.395), Schaffner may appeal to investors seeking lower volatility in the industrials sector. However, the lack of dividends and moderate market cap (CHF 314 million) could limit attractiveness for income-focused or large-cap investors. Key risks include exposure to cyclical industrial demand and competition from larger global players.
Schaffner Holding AG competes in the specialized EMC and power quality solutions market, leveraging its Swiss engineering expertise and strong product portfolio. Its competitive advantage lies in its focus on high-growth applications like electromobility and industrial automation, where precision and reliability are critical. The company’s dual-segment approach (Industrial and Automotive) allows it to diversify revenue streams while maintaining technological leadership in EMI/EMC filtration. However, Schaffner faces competition from larger multinationals with broader R&D budgets and global distribution networks. Its relatively small scale (CHF 158 million revenue) may limit pricing power compared to industry giants. The company’s Swiss base ensures high-quality manufacturing but could result in higher costs versus competitors in lower-cost regions. Schaffner’s innovation in automotive EMC solutions, particularly for electric vehicles, provides a differentiating factor, though scaling this segment remains a challenge against entrenched automotive suppliers.