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.
Forbo Holding AG is a Switzerland-based global leader in producing floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. Operating through two main divisions, Flooring Systems and Movement Systems, the company serves diverse sectors worldwide with innovative, sustainable products. The Flooring Systems division offers premium linoleum, vinyl flooring, entrance systems, carpet tiles, needlefelt, Flotex washable textile flooring, and adhesives like Eurocol for public buildings, healthcare facilities, schools, offices, hotels, and residential spaces. It holds a world-leading 70% market share in linoleum and emphasizes durability, low maintenance, and design. The Movement Systems division, under the Siegling brand, provides high-quality conveyor and processing belts, plastic modular belts, timing belts, and flat belts for industries including food processing, fitness, manufacturing, retail, and logistics. Employing around 5,100 people across 25 production sites, 6 fabrication centers, and 47 sales organizations in 39 countries, Forbo Holding AG, founded in 1928 and headquartered in Baar, Switzerland, focuses on functionality, quality, sustainability, and proximity to key markets in Europe, North America, and growth regions.
Operating margin is thin at 8.09%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.3% YoY. Margins deteriorated 2.7pp alongside, both lines moving the wrong way.
Free cash flow declined 45% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.99% to 10.91%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
CHF 1.09B
▼ -3.3% YoY
Net Income (TTM)
CHF 69M
▼ -27.5% YoY
Op. Margin
8.09%
▼ -2.7pp YoY
ROIC
10.91%
▼ -5.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
CHF 74M
▼ -45.4% YoY
Op. Cash Flow (TTM)
CHF 74M
▼ -45.4% YoY
Net Debt
-CHF 91M
Net Cash Position
Cash & Equiv.
CHF 91M
3Y CAGR: -5.7%
3Y CAGR: -2.8%
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