Mikron Holding AG

MIKN.SW

Industrial - Machinery · Industrials

Also trades as: 0QQF.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

Mixed

Cash Flow

Good

Stability

Exceptional

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

Mikron Holding AG is a Swiss industrial company that makes two main things: automated assembly machines and precision cutting tools. Its assembly automation systems help manufacturers put together complex products like medical devices, car parts, and consumer goods quickly and accurately. Its machining technology division makes high-speed cutting tools used in factories around the world.

Mikron earns money by selling this specialized equipment and tooling, and by providing after-sales services like maintenance and spare parts. The company operates primarily in Europe, North America, and Asia, serving industries such as automotive, medtech, and electronics. Its competitive edge comes from Swiss engineering precision and deep customer relationships built over decades in niche industrial markets. The main risk is that Mikron's revenue is closely tied to capital spending by manufacturers, meaning a slowdown in industrial investment — particularly in the automotive sector, which is navigating the shift to electric vehicles — could weigh on demand for its machines.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

24.3%

Thin — 24.3% gross margin

Profit after running costs

Operating Margin

8.9%

Modest — 8.9% operating margin

Return on the money invested

ROCE

12.9%

Good — 12.9% 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

-1.2%

Shrinking sales (-1.2% YoY)

Profit growth

EPS YoY

-12.0%

Earnings shrinking (-12.0% YoY)

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

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

92%

Modest — 92% of profit becomes cash

Spare cash per sale

FCF Margin

1.4%

Thin free cash flow (1.4%)

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

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

60.80x

Comfortably covers interest (60.8x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

9.9x

no trend

Attractive valuation — P/E 9.9

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-1.5

SLOWING

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

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Dividends

Dividend

Dividend Yield

3.50%

no trend

Moderate income — 3.50% yield

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

Dividend record

Dividend Growth

+270.4%

no trend

Dividend growing fast (270.4% YoY)

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