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Komax Holding AG

KOMN.SW
29
Industrial - Machinery · Industrials
Also trades as: 0QKL.L
Exchange
SIX Swiss Exchange
Winston Score
29
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available
Dividends
Good

Winston Score History

The full picture

Komax Holding AG is a Swiss industrial company that makes machines used to process electrical wires and cables. Its equipment cuts, strips, crimps, and assembles wire harnesses — the bundles of wires that carry electricity through cars, planes, and other machines. The automotive industry is its biggest customer, and Komax is one of the largest manufacturers of wire processing machines in the world.

Komax earns revenue by selling its machines outright and by providing spare parts, software, and after-sales services. It operates globally, with a strong presence in Europe, the Americas, and Asia, and its scale and specialized engineering give it a durable position in a niche market with few large competitors. However, the company's very thin operating margin of under 1% signals that it is currently struggling with weak demand and high costs, and its near-term performance depends heavily on whether automakers resume normal production investment, particularly as the auto industry navigates the slow shift to electric vehicles.

Growth Profile

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

Revenue Growth

+93.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-182.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

25.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 68M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue accelerating

Komax Holding AG grew revenue 94% 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
13.7%
Thin — 13.7% gross margin
Profit after running costs
Operating Margin
0.6%
Thin — 0.6% operating margin
Return on the money invested
ROCE
0.4%
Weak — 0.4% 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
+28.0%
Fast-growing sales (+28.0% YoY)
Profit growth
EPS YoY
N/A
Data not available
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
N/A
Data not available
Spare cash per sale
FCF Margin
0.5%
Thin free cash flow (0.5%)

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
0.51
Conservative — low debt load (0.51)
Covers its interest
Interest Cover
0.28x
Dangerous — barely covers interest (0.3x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
4.07%
no trend
Healthy income — 4.07% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-8.6%
no trend
Dividend cut (-8.6% YoY) — warning sign

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