Zehnder Group AG (ZEHN.SW)

Zehnder Group AG (ZEHN.SW) — VMCI valuation read

Headline read on ZEHN.SW: VMCI of 59/100 versus a Industrials sector median of 50. The 9-point above-median position is what makes Zehnder Group AG a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on ZEHN.SW: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on ZEHN.SW: value (ZEHN.SW trades at 19.0x earnings, 6% above the Industrials median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Industrials median (10.0%)), and risk (net debt to EBITDA of 1.3x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Industrials 12.0x baseline.

ZEHN.SW fell 0.5% over the trailing 7 days, with a +5.7% read on a 30-day basis.