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INFICON Holding AG

IFCN.SW
74
Hardware, Equipment & Parts · Technology
Also trades as: 0QK5.L
Exchange
SIX Swiss Exchange
Winston Score
74
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Exceptional
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Good
Dividends
Weak

Winston Score History

The full picture

INFICON is a Swiss company that makes sensors and instruments used to detect, measure, and control gases and leaks. Its tools are used in semiconductor chip factories, refrigeration and air conditioning systems, and industrial manufacturing. The company is known for making highly precise measurement equipment that engineers rely on to keep production processes clean and accurate.

INFICON earns money by selling hardware instruments and related software and services to industrial customers around the world. It operates globally, with strong sales in North America, Europe, and Asia, and generates roughly $500–600 million in annual revenue. Its moat comes from deep technical expertise and the fact that its instruments are embedded in critical production processes, making customers unlikely to switch suppliers. The biggest growth driver is demand from semiconductor manufacturers, who need ever more precise gas and leak detection as chip designs become smaller and more complex — though a slowdown in chip industry spending would directly hurt INFICON's results.

Growth Profile

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

Revenue Growth

+127.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+151.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

10.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 184M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

INFICON Holding AG grew revenue 128% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

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Quality

Profit per sale
Gross Margin
46.3%
Healthy — 46.3% gross margin
Profit after running costs
Operating Margin
18.9%
Healthy — 18.9% operating margin
Return on the money invested
ROCE
24.1%
Exceptional — 24.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+40.8%
Fast-growing sales (+40.8% YoY)
Profit growth
EPS YoY
+86.8%
Earnings growing fast (+86.8% YoY)

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

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
122%
Turns 122% of profit into real cash
Spare cash per sale
FCF Margin
13.4%
Converts sales into free cash efficiently (13.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.25
Conservative — low debt load (0.25)
Covers its interest
Interest Cover
500.35x
Comfortably covers interest (500.3x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
41.7x
no trend
Pricey — P/E 41.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+12.9
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (41.7 → 28.8)

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Dividends

Dividend
Dividend Yield
1.22%
no trend
Small dividend — 1.22% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
-15.3%
no trend
Dividend cut (-15.3% YoY) — warning sign

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