4 models fit Straumann Holding AG and they disagree: 1 of 4 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Bronze51
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionStraumann Holding AG (STMN.SW)
Fair value (4 models)
CHF 49.88
ACCE price target
CHF 96.90
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 98.88 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
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
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
98.3% above
-49.6% to fair value
ACCE score
54
out of 100
P/E
41.9x
forward 25.6x
1-year return
+10.7%
Dividend yield
1.03%
Straumann Holding AG in four questions
Plain answers, details below
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Overview
ACCE thesis
Straumann makes dental implants, the titanium and ceramic screws that replace missing tooth roots, along with the clear-aligner and digital scanning tools that feed them, and its SLA implant line and Clear Correct aligners are the core of the business. The moat rests on surgeon habit and the installed base: once a dentist trains on a platform and a practice standardises on it, switching costs are high, which helps explain a 69.3% gross margin and a 25.1% operating margin. Revenue growth is the soft spot at 2.3%, so the investment case depends on volume recovery in implantology and aligners returning to growth rather than on any near-term acceleration. Shares trade at 42.0x trailing earnings but 25.1x forward, a gap that implies earnings are expected to rise sharply, and the 17.1% ROE shows the franchise still earns well on its equity base. This is worth a deeper look mainly to test whether top-line growth can re-accelerate from here, and whether the forward earnings step-up is backed by volume rather than cost cuts.