Schindler Holding AG (SCHP.SW) Stock Analysis & Winston Score
Schindler Holding AG is a Swiss company that makes elevators, escalators, and moving walkways. It sells and installs these products in office buildings, shopping malls, airports, hospitals, and apartment complexes around the world. Schindler is one of the two or three largest elevator companies globally, competing mainly with Otis and KONE. Schindler makes money in two ways: selling new equipment and, more importantly, providing ongoing maintenance and repair contracts for the machines it installs. This service business is highly recurring and hard to replace, since building owners typically stick with the original installer for maintenance. The company operates in over 100 countries, with strong presence in Europe, Asia, and the Americas, generating roughly 11 billion Swiss francs in annual revenue. The key growth driver is urbanization in emerging markets, where demand for new buildings and infrastructure continues to rise, while the main risk is slowing construction activity in China, which has been a significant source of new equipment orders.
Winston Score: 68/100 — Good
A decent business — some strong pillars, some weaker.
- Quality: Exceptional (26/30)
- Growth: Good (12/20)
- Cash Flow: Exceptional (9/10)
- Stability: Exceptional (10/10)
- Valuation: Good (6/10)
- Ownership: Weak (1/15)


