Added to YB: 2026-08-27
Pitch date: 2026-08-18
BUCN.SW [neutral]
Bucher Industries AG
+9.83%
current return
Author Info
DB_Silver_Fox is a CFO and value investor interested in: European & US hidden champions, simple and effective business models, and US Banks. Sign up for the newsletter.
Company Info
Bucher Industries AG manufactures and sells machinery, systems, and hydraulic components for harvesting, producing and packaging food products, and keeping roads and public spaces clean and safe in Asia, the United States, Europe, and internationally.
Market Cap
CHF 3.1B
Pitch Price
CHF 300.00
Price Target
N/A
Dividend
3.54%
EV/EBITDA
11.37
P/E
17.19
EV/Sales
0.99
Sector
Machinery
Category
turnaround
DB_Silver_Fox | Portfolio update as of 11.08.2026 - Bucher Industries AG
BUCN.SW (update): Family-owned machinery cyclical with, per author's own calculations, strong capital allocation: over 5 years generated CHF 1.5bn CFO, distributing CHF 548m dividends (36%), reinvesting CHF 547m (36%), and spending ~CHF 163m (11%) on 5 small targeted acquisitions (one/year, none above CHF 50m); conservatively financed, rock-solid balance sheet. Author notes it sits at the bottom of its cycle: revenue fell 19% from CHF 3,597m (2022) to CHF 2,914m (2025) and operating margin from 12.0% to 7.9%, driven by an agricultural equipment downturn Bucher doesn't control; FY2025 operating cash flow of CHF 407m — a five-year high against a five-year operating-profit low — is working capital released as inventories unwound, not earnings recovering.
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