| Valuation method | Value, CHF | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 298.09 | 100 |
| Intrinsic value (DCF) | 80.53 | -46 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 128.67 | -14 |
IVF Hartmann Holding AG (VBSN.SW) is a leading Swiss provider of medical consumer goods, specializing in surgical disposables, hygiene products, wound management, and first aid solutions. Founded in 1874 and headquartered in Neuhausen am Rheinfall, the company serves a diverse clientele, including private doctors, hospitals, pharmacies, nursing homes, and industrial customers. Operating in the Medical Instruments & Supplies sector, IVF Hartmann has built a strong reputation for quality and reliability in Switzerland and internationally. The company’s product portfolio includes essential medical supplies such as surgical instruments, disinfection products, incontinence management solutions, and hydrotherapy services. With a market capitalization of CHF 357 million, IVF Hartmann maintains a stable financial position, supported by consistent revenue growth and strong cash reserves. Its long-standing industry presence and focus on healthcare essentials position it as a resilient player in the medical supplies market.
IVF Hartmann Holding AG presents a stable investment opportunity within the defensive healthcare sector, supported by its consistent revenue (CHF 158.8M in FY 2024) and net income (CHF 20.3M). The company’s low beta (0.352) indicates lower volatility compared to the broader market, making it attractive for risk-averse investors. A solid dividend yield (CHF 3.2 per share) and strong cash position (CHF 94.9M) further enhance its appeal. However, its niche focus on medical consumables may limit high-growth potential compared to innovative medical technology firms. Investors should weigh its steady cash flows against modest revenue growth prospects in a competitive market.
IVF Hartmann Holding AG competes in the medical supplies sector with a focus on essential, non-cyclical products, ensuring steady demand. Its competitive advantage lies in its long-established Swiss market presence, trusted brand, and diversified customer base across healthcare providers and retail. The company’s vertically integrated operations allow cost control and reliability in supply chains, critical in the medical sector. However, it faces competition from larger multinational players with broader product portfolios and greater R&D capabilities. IVF Hartmann’s regional dominance in Switzerland provides stability but may limit scalability compared to global competitors. Its conservative financial strategy—low debt (CHF 1.3M) and high liquidity—positions it well for economic downturns but could slow aggressive expansion. The company’s focus on sustainability and compliance with stringent European medical standards further strengthens its market positioning.