Tecan Group AG

TECN.SW

Medical - Instruments & Supplies · Healthcare

Also trades as: 0QLN.L

Exchange

SIX Swiss Exchange

Winston Score

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

Weak

Cash Flow

Weak

Stability

Exceptional

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Tecan Group AG is a Swiss company that makes robots and instruments for science labs. These machines automate repetitive tasks like pipetting, mixing, and testing liquid samples, so lab workers don't have to do them by hand. Tecan sells to pharmaceutical companies, biotech firms, hospitals, and university research labs around the world.

Tecan earns money by selling its instruments upfront and then generating recurring revenue from consumables, software, and service contracts that customers need to keep the machines running. The company is headquartered in Männedorf, Switzerland, and operates globally, with strong presence in Europe, North America, and Asia. Its competitive edge comes from deep integration into customer workflows — once a lab is built around Tecan equipment, switching to a competitor is costly and disruptive. The main risk is that its margins remain under pressure, as reflected in a low operating margin, and any slowdown in pharmaceutical or biotech research spending could quickly reduce demand for new instruments.

Growth Profile

For growth stock investors

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

Revenue Growth

-2.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-29.8% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 226M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Tecan Group 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

33.9%

Modest — 33.9% gross margin

Profit after running costs

Operating Margin

4.3%

Thin — 4.3% operating margin

Return on the money invested

ROCE

3.1%

Weak — 3.1% 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

-4.0%

Shrinking sales (-4.0% YoY)

Profit growth

EPS YoY

-285.1%

Earnings shrinking (-285.1% YoY)

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

How steady the profit is

EPS Consistency

2/8 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

6.8%

Modest free cash flow (6.8%)

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

0.14

Conservative — low debt load (0.14)

Covers its interest

Interest Cover

13.02x

Comfortably covers interest (13.0x)

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

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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

1.59%

no trend

Small dividend — 1.59% yield

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

Dividend record

Dividend Growth

+26.6%

no trend

Dividend growing fast (26.6% YoY)

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