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BEAN.SW
ACCE-researched

BELIMO Holding AG (BEAN.SW) fair value

Industrials · Building Products & Equipment · SIX · Switzerland
CHF 762.00+3.18%
Market cap CHF 9.4BNext earnings 2027-03-01Updated Oct 22, 2026
Add earnings to calendarGoogle
Our verdict
Trades 116% above our fair value
Price
CHF 762.00
Model fair valueConfidence: good
CHF 352
Model range
CHF 254 to CHF 451
Fair value CHF 352
Price CHF 762
2 models fit BELIMO Holding AG and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze49
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionBELIMO Holding AG (BEAN.SW)
Fair value (2 models)
CHF 352
ACCE price target
CHF 781
Rating
Overvalued
Horizon
12 months
Fair value published on 22 Oct 2026, 12:04 CEST.
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Rating published on 22 Oct 2026, 12:04 CEST.
Price used: CHF 762 at the close on 23 Oct 2026, 17:30 CEST.
Models: P/E comparison and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
116.3% above
-53.8% to fair value
ACCE score
60
out of 100
P/E
45.7x
forward 32.0x
1-year return
-8.4%
Dividend yield
1.35%

BELIMO Holding AG in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Belimo makes electric actuators and valves that control dampers and flow in HVAC systems, the motors that open and close the air and water paths in buildings. The moat is in the installed base and the breadth of the catalogue: its actuators are specified into building designs early, which locks in replacement and service demand for years, and a 60.0% gross margin and 35.2% ROE suggest that position is being monetised rather than competed away. Revenue growth of 20.5% is running well ahead of a typical building-products peer, with the near-term push coming from energy-efficiency retrofits and tighter building codes that pull connected, sensor-equipped actuators into existing stock. The stock trades on 44.3x trailing and 31.4x forward earnings, so the multiple already prices a good deal of that growth, and the question for a deeper look is whether a 22.6% operating margin can hold as volumes normalise and the cost base scales. It has no index membership in the data we hold, which is worth checking for liquidity and ownership-base reasons before sizing.

AI-assisted·How I use AIWritten Oct 23, 2026
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
  • moderate
    Rich valuation multiples
    P/E of 46.8 and EV/EBITDA of 33.4 leave little room for earnings misses; any slowdown from the 20.5% revenue growth could hit the share price hard.

AI research notes

AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 20.5% year over year, well ahead of its 11.1% average annual pace over five years.
  • Return on equity of 35.2% and a net margin of 16.6% show the business earns strong profits on its capital.
  • Earnings per share beat expectations by 16.7%, and analysts' mean price target sits 28.5% above the current share price.
Why it could disappoint
  • At a trailing P/E of 46.8x, the shares are priced for continued fast growth, leaving little room for disappointment.
  • The dividend yield is only 1.3%, so the stock offers little income while investors wait for growth to show up.
  • The shares trade at CHF 762.00 with a forward P/E of 41.3x, and the stock is 116.3% above the model fair value of CHF 352.29.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Mar 1, 2027
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

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Valuation

INVESTOR
Where BEAN.SW's valuation models land
Price
CHF 762.00
Model fair value
CHF 352
Model range
CHF 254 to CHF 451
Fair value CHF 352
Price CHF 762
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
Dividend discount
EV/EBITDA comparison
Graham number
P/E comparison
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Quality

INVESTOR
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  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

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The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

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Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Compare

Where it sits vs peers

News and Record

Recent performance

1 week
-0.9%
1 month
-7.0%
3 months
-9.5%
6 months
+5.0%
YTD
-2.4%
1 year
-8.4%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
22 Oct 2026, 16:00 CESTACCE price targetCHF 781first publicationCHF 787
22 Oct 2026, 12:04 CESTFair valueCHF 352first publicationCHF 787
22 Oct 2026, 12:04 CESTRatingOvervaluedfirst publicationCHF 787

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in CHF. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth80Value25Quality89Momentum47Total60
Valuation
Trailing P/E
45.7x
Forward P/E
32.0x
PEG
1.95
P/B
16.14x
EV / Revenue
8.1x
Book value/sh
CHF 50.72
Enterprise value
CHF 10.0B
Profitability
ROE
35.2%
FCF yield
1.13%
ROIC
22.3%
Health and risk
Debt / equity
0.08
Dividend yield
1.35%
Beta
1.14

Price

-11.2% · 1Y

Ask anything about BEAN.SW

Answered from BELIMO Holding AG fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 0% of peers
low 0.0x45.7xhigh 45.7x
ROEbetter than 50% of peers
low -9%35%high 72%
Div yieldbetter than 50% of peers
low 0.6%1.4%high 2.7%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
BEAN.SW BELIMO Holding AGCHF 762.00CHF 352116% above45.7x35.2%8960
LII Lennox International Inc. Common Stock$378.72$380At fair value16.6x71.8%7149
WMS Advanced Drainage Systems Inc. Common Stock$130.92$16621% below22.2x26.4%8064
CSL Carlisle Companies Incorporated Common Stock$352.60$31611% above19.3x39.2%7163
OC Owens Corning Inc Common Stock New$116.49$14922% below--9.4%3840
NIBE-B.ST NIBE Industrier AB (publ)kr 44.32kr 2575% above33.9x8.5%5962
MAS Masco Corporation Common Stock$78.05$7110% above18.0x58.6%6461

Sector report card

Where BEAN.SW ranks against its sector peers on each metric.

Computing percentiles…