CPH Chemie + Papier Holding AG

CPHN.SW

Paper, Lumber & Forest Products · Basic Materials

Also trades as: 0QNZ.L

Exchange

SIX Swiss Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Strong

Stability

Exceptional

Valuation

Strong

Dividends

Strong

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Winston Score History

The full picture

CPH Chemie + Papier Holding AG is a Swiss industrial company that operates in two main businesses: specialty chemicals and paper. The chemicals division makes ingredients used in products like detergents, lubricants, and pharmaceuticals. The paper division produces lightweight publication paper, mainly used in magazines, catalogs, and advertising materials.

The company earns revenue by selling chemical products and paper to industrial customers and publishers, primarily across Europe. With a market cap of around $0.3 billion, CPH is a small, focused conglomerate headquartered in Perlen, Switzerland. Its chemicals business carries a stronger competitive position due to specialty formulations that are harder to copy, while the paper division faces a structural headwind as print advertising and physical catalogs continue to decline with the shift to digital media. That ongoing decline in print demand is the central long-term risk for the business.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+0.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-16.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

53.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 33M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

CPH Chemie + Papier Holding AG is growing revenue at 0% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

19.9%

Thin — 19.9% gross margin

Profit after running costs

Operating Margin

10.8%

Modest — 10.8% operating margin

Return on the money invested

ROCE

11.1%

Below par — 11.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+3.7%

Slow sales growth (+3.7% YoY)

Profit growth

EPS YoY

-32.3%

Earnings shrinking (-32.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

246%

Turns 246% of profit into real cash

Spare cash per sale

FCF Margin

9.0%

Modest free cash flow (9.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.28

Conservative — low debt load (0.28)

Covers its interest

Interest Cover

16.01x

Comfortably covers interest (16.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

17.3x

no trend

Fair value — P/E 17.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+5.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (17.3 → 12.2)

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Dividends

Dividend

Dividend Yield

3.34%

no trend

Moderate income — 3.34% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+131.5%

no trend

Dividend growing fast (131.5% YoY)

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