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.
DKSH Holding AG is a leading Market Expansion Services provider headquartered in Zurich, Switzerland, specializing in facilitating market entry and growth for companies across Asia, Europe, and the Americas. Formed in 2002 through the merger of historic trading houses Diethelm Keller and SiberHegner, which trace origins to the 1860s, it operates with a 160-year legacy of distributing high-quality products and brands. The company manages the full value chain, including marketing, sales, distribution, logistics, regulatory support, and after-sales services, acting as an outsourced local subsidiary for global partners without their own infrastructure. Its four core business units—Consumer Goods, Healthcare, Performance Materials, and Technology—serve diverse sectors: luxury, food, and lifestyle products; pharmaceuticals, medical devices, and consumer health; specialty chemicals and materials; and capital goods with analytical instruments. With over 25,000 employees and annual revenues around $12.6 billion, primarily from Thailand and other Asian markets like Malaysia and Taiwan, DKSH Holding AG holds significant market depth in fragmented regions, listed publicly since 2012 with family anchor shareholders. This positions it as a key enabler of sustainable growth in complex international markets.
Operating margin is thin at 2.95%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 0.2% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 12% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
CHF 11.07B
▼ -0.2% YoY
Net Income (TTM)
CHF 211M
▼ -4.5% YoY
Op. Margin
2.95%
ROIC
8.81%
▲ +0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
CHF 282M
▼ -12.3% YoY
Op. Cash Flow (TTM)
CHF 313M
▼ -10.9% YoY
Net Debt
CHF 215M
Cash & Equiv.
CHF 538M
3Y CAGR: -0.7%
3Y CAGR: +6.0%
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