| Valuation method | Value, CHF | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 55.75 | 223 |
| Intrinsic value (DCF) | 10.10 | -42 |
| Graham-Dodd Method | 14.52 | -16 |
| Graham Formula | 15.23 | -12 |
Mikron Holding AG (MIKN.SW) is a Swiss industrial machinery company specializing in high-precision automation and machining systems for global manufacturing sectors. Founded in 1908 and headquartered in Biel, Switzerland, Mikron operates through two key segments: Mikron Automation and Mikron Machining Solutions. The Automation segment provides scalable, customized assembly systems for industries such as pharmaceuticals, automotive, electronics, and consumer goods, offering end-to-end solutions from assembly to testing and technical support. The Machining Solutions segment delivers advanced systems for producing high-precision metal components, including turbocharger housings and injection nozzles, alongside cutting tools and support services. Serving diverse markets like automotive, electronics, and medical technology, Mikron combines Swiss engineering precision with innovative automation to enhance manufacturing productivity. With a market cap of CHF 273 million, Mikron is a niche player in the industrial machinery sector, emphasizing efficiency, customization, and technological expertise.
Mikron Holding AG presents a mixed investment profile. The company benefits from its specialization in high-precision automation and machining, serving resilient industries like pharma/medtech and automotive. With a solid balance sheet (CHF 113M cash, minimal debt) and positive operating cash flow (CHF 69M), Mikron demonstrates financial stability. However, its modest market cap (CHF 273M) and beta (0.736) suggest lower liquidity and limited growth momentum compared to larger industrial peers. The dividend yield (~1.8% at CHF 0.50/share) is conservative. Risks include exposure to cyclical manufacturing demand and competition from global automation giants. Investors may value Mikron for its niche expertise and Swiss quality, but broader sector headwinds could pressure margins.
Mikron Holding AG competes in the precision automation and machining systems market, leveraging Swiss engineering and customization capabilities. Its Automation segment differentiates through tailored assembly solutions for regulated industries like pharma/medtech, where precision and compliance are critical. The Machining Solutions segment competes on high-tolerance component production, particularly for automotive and electronics. Mikron’s competitive advantages include deep industry expertise, a reputation for reliability, and integrated service support. However, its small scale (CHF 374M revenue) limits R&D and global reach compared to multinational rivals. While Mikron avoids direct competition with mass-production automation firms, it faces pressure from regional players in Europe and Asia offering cost-competitive alternatives. The company’s focus on high-margin niches mitigates some pricing pressures, but reliance on cyclical industries (e.g., automotive) remains a vulnerability. Strategic partnerships and aftermarket services (e.g., spare parts, training) enhance customer retention.