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.
Cicor Technologies Ltd. is a Swiss-based global leader in the design, development, and manufacturing of advanced electronic solutions, providing full-cycle services from research and development to supply chain management. Operating through two main segments—Electronic Manufacturing Services (EMS) and Advanced Substrates (AS)—the company specializes in high-precision products such as printed circuit boards (PCBs), including flexible, rigid-flex, and high-density interconnects; thin- and thick-film substrates; precision plastics via injection molding and 3D-MID technology; hybrid circuits; power solutions; and printed electronics. With approximately 3,300 employees across 20 locations worldwide, including facilities in Europe, Asia, and North Africa, Cicor serves critical sectors like healthcare technology (medical devices and wearables), aerospace and defense, industrial electronics, and building technologies. Founded in 1966 and headquartered in Bronschhofen, Switzerland, the company emphasizes innovation, quality, and sustainability, positioning itself as a trusted partner for complex, mission-critical applications that enhance health, connectivity, and safety.
Operating margin is thin at 5.16%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 28.2%, still solid. Margins contracted 2.9pp, which offsets some of the top-line progress.
Free cash flow declined 20% versus the prior year, cash generation momentum has weakened. ROIC dropped from 12.14% to 8.60%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
CHF 616M
▲ +28.2% YoY
Net Income (TTM)
CHF 17M
▼ -37.9% YoY
Op. Margin
5.16%
▼ -2.9pp YoY
ROIC
8.60%
▼ -3.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
CHF 49M
▼ -19.8% YoY
Op. Cash Flow (TTM)
CHF 61M
▼ -16.6% YoY
Net Debt
CHF 61M
Cash & Equiv.
CHF 99M
3Y CAGR: +25.3%
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