Fundamenta Real Estate AG

FREN.SW

Real Estate - Development · Real Estate

Price

CHF 16.75

-0.10 (-0.59%)

Market Cap

CHF 572.6M

Exchange

SIX Swiss Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Good

Stability

Strong

Valuation

Good

Dividends

Good

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Share count rising — dilution

+7.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 28.5M (2021) → 30.7M (2025)

Winston Score History

The full picture

Fundamenta Real Estate AG is a Swiss company that owns and manages residential apartment buildings. Its main product is rental housing, and its customers are everyday tenants looking for a place to live in Switzerland. The company focuses on the Swiss residential property market, which is known for being stable and in high demand due to limited housing supply.

The company makes money by collecting rent from tenants across its portfolio of properties. It operates entirely within Switzerland, with a market value of around 0.6 billion Swiss francs, making it a small but focused player in Swiss real estate. Its main competitive advantage is owning properties in a country with strict zoning laws and limited land, which keeps housing scarce and supports steady rental income. The key risk the company faces is rising interest rates, which increase borrowing costs for property owners and can reduce the value of real estate assets on their balance sheet.

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

+0.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-11.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

CHF 0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

17.1%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

CHF 1.2B cash & investments

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

Growth context

Fundamenta Real Estate AG is growing revenue at 1% 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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

85.5%

Premium pricing power — 85.5% gross margin

Profit after running costs

Operating Margin

69.6%

Excellent — 69.6% operating margin

Return on the money invested

ROCE

4.6%

Weak — 4.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+1.0%

Nearly flat sales (+1.0% YoY)

Profit growth

EPS YoY

+47.1%

Earnings growing fast (+47.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

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

47%

Weak — only 47% of profit becomes cash

Spare cash per sale

FCF Margin

50.9%

Converts sales into free cash efficiently (50.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.96

Moderate — manageable debt (0.96)

Covers its interest

Interest Cover

8.29x

Comfortably covers interest (8.3x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

11.2x

Attractive valuation — P/E 11.2

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

-14.7

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.56%

Moderate income — 3.56% yield

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

Dividend record

Dividend Growth

+9.8%

Dividend growing modestly (9.8% YoY)

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