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Schindler Holding AG

SCHN.SW
77
Industrial - Machinery · Industrials
Also trades as: 0QO1.L · 0QOT.L
Price
CHF 255.00
+2.00 (+0.79%)
Market Cap
CHF 28.01B
Exchange
SIX Swiss Exchange
Winston Score
77
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
Exceptional
Growth
Good
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Good
Dividends
Strong

Winston Score History

The full picture

Schindler is a Swiss company that makes elevators, escalators, and moving walkways. It sells these products to building owners, construction companies, hotels, airports, shopping malls, and transit systems around the world. Founded in 1874, Schindler is one of the two or three largest elevator and escalator manufacturers on the planet, competing mainly with Otis and Kone.

Schindler makes money in two ways: selling new equipment and, more importantly, servicing and maintaining the equipment it has already installed. This maintenance business is highly recurring and hard to replace, since building owners tend to stick with the original manufacturer for safety and convenience reasons. The company operates globally, with strong positions in Europe, Asia, and the Americas, and generates roughly $11–12 billion in annual revenue. The key growth driver is urbanization in emerging markets, particularly India and Southeast Asia, where demand for new buildings and infrastructure continues to rise.

Growth Profile

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

Revenue Growth

-0.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-48.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

CHF 0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

69.9%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 3.7B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue declining

Schindler Holding AG's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

Share count broadly stable

0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 107.7M (2021) → 107.3M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
100.0%
Premium pricing power — 100.0% gross margin
Profit after running costs
Operating Margin
13.5%
Healthy — 13.5% operating margin
Return on the money invested
ROCE
29.2%
Exceptional — 29.2% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+46.1%
Fast-growing sales (+46.1% YoY)
Profit growth
EPS YoY
-21.4%
Earnings shrinking (-21.4% 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
146%
Turns 146% of profit into real cash
Spare cash per sale
FCF Margin
16.9%
Converts sales into free cash efficiently (16.9%)

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
0.04
Conservative — low debt load (0.04)
Covers its interest
Interest Cover
61.17x
Comfortably covers interest (61.2x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
35.3x
Pricey — P/E 35.3

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

Cheaper or dearer next year
P/E vs Forward
+10.4
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (35.3 → 24.9)

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Dividends

Dividend
Dividend Yield
2.35%
Moderate income — 2.35% yield

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

Dividend record
Dividend Growth
+36.3%
Dividend growing fast (36.3% YoY)

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