Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
BKW AG is an international energy and infrastructure company headquartered in Bern, Switzerland, with a history dating back to 1898. It plans, builds, and operates infrastructure for energy production and supply to businesses, households, and the public sector across Switzerland, Germany, Italy, France, and other European countries. The company operates through three key segments: Energy Solutions, which manages power plants, energy sales, trading in electricity, certificates, and raw materials, plus wind, solar, and smart energy services; Power Grid, focusing on building and maintaining distribution networks; and Infrastructure and Buildings, providing engineering, consulting, and integrated solutions for energy, telecommunications, transport, water utilities, and environmental projects. BKW AG employs over 12,000 people across 140 subsidiaries in ten European countries, emphasizing sustainable development amid climate change, urbanization, and digitalization. The Canton of Bern holds a majority stake, underscoring its role in Switzerland's utilities sector with a diverse energy mix including hydroelectric, nuclear, renewables, and some fossil fuels.
12.36% operating margin is respectable but not wide. ROIC at 4.97%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 7.6% YoY. Margins deteriorated 4.9pp alongside, both lines moving the wrong way.
ROIC dropped from 8.25% to 4.97%, capital efficiency is deteriorating. Operating margin contracted 4.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
CHF 4.20B
▼ -7.6% YoY
Net Income (TTM)
CHF 388M
▼ -40.1% YoY
Op. Margin
12.36%
▼ -4.9pp YoY
ROIC
4.97%
▼ -3.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
CHF 291M
▲ +1.5% YoY
Op. Cash Flow (TTM)
CHF 528M
▼ -31.8% YoY
Net Debt
CHF 1.10B
Cash & Equiv.
CHF 1.05B
3Y CAGR: -6.0%
3Y CAGR: -14.8%
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