(ARYN) Aryzta - SW
Sector: Consumer Defensive | Industry: Packaged Foods | Exchange: SW (Switzerland) | Market Cap: 1.403m CHF | Total Return: -32.2% in 12m
Avg Turnover: 2.89M
Rev. Trend: 97.7%
Warnings
Altman Z'' -0.85 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
ARYZTA AG is a Switzerland-based food company specializing in frozen B2B bakery solutions. Its portfolio includes a wide range of breads, artisanal loaves, sweet pastries, and savory snacks distributed under brands such as Hiestand and Cuisine de France. The company operates a vertically integrated model, combining large-scale manufacturing with logistics and asset management services tailored for the retail and quick-service restaurant (QSR) sectors.
The packaged foods sector relies heavily on economies of scale and cold-chain efficiency to manage the short shelf-life of par-baked goods. ARYZTA focuses on the in-store bakery segment, which allows grocery retailers to offer fresh-baked products without maintaining full on-site production facilities. Further analysis of the companys regional market share and debt structure is available on ValueRay.
Headquartered in Schlieren, ARYZTA serves a global client base including convenience stores and independent retailers. The business model is driven by high-volume supply contracts and brand licensing across European and international markets.
- European Quick Service Restaurant demand drives core volume growth
- Input cost inflation management stabilizes EBITDA margins
- Deleveraging through free cash flow supports credit rating upgrades
- Product mix shift toward high-margin artisanal breads and pastries
| Net Income: 270.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 0.67 > 1.0 |
| NWC/Revenue: -4.65% < 20% (prev -4.64%; Δ -0.01% < -1%) |
| CFO/TA 0.29 > 3% & CFO 550.8m > Net Income 270.7m |
| Net Debt (813.3m) to EBITDA (685.5m): 1.19 < 3 |
| Current Ratio: 0.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (24.8m) vs 12m ago -0.35% < -2% |
| Gross Margin: 28.56% > 18% (prev 26.19%; Δ 2.37% > 0.5%) |
| Asset Turnover: 271.4% > 50% (prev 233.2%; Δ 38.18% > 0%) |
| Interest Coverage Ratio: 8.62 > 6 (EBIT TTM 423.5m / Interest Expense TTM 49.1m) |
| A: -0.13 (Total Current Assets 335.9m - Total Current Liabilities 575.6m) / Total Assets 1.89b |
| B: -0.60 (Retained Earnings -1.13b / Total Assets 1.89b) |
| C: 0.22 (EBIT TTM 423.5m / Avg Total Assets 1.90b) |
| D: 0.41 (Book Value of Equity 552.7m / Total Liabilities 1.33b) |
| Altman-Z'' = -0.85 = CCC |
| DSRI: 0.94 (Receivables 134.7m/124.5m, Revenue 5.16b/4.46b) |
| GMI: 0.92 (GM 26.19% / 28.56%) |
| AQI: 0.97 (AQ_t 0.34 / AQ_t-1 0.35) |
| SGI: 1.16 (Revenue 5.16b / 4.46b) |
| TATA: -0.15 (NI 270.7m - CFO 550.8m) / TA 1.89b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of June 20, 2026, the stock is trading at CHF 55.20 with a total of 34,658 shares traded.
Over the past week, the price has changed by -7.69%,
over one month by -3.50%,
over three months by -6.84% and
over the past year by -32.15%.
Aryzta has no consensus analysts rating.
Market Cap EUR = 1.52b (1.40b CHF * 1.0841 CHF.EUR)
P/E Trailing = 14.4501
P/E Forward = 17.4216
P/S = 0.6309
P/B = 2.8208
P/EG = 1.0946
Revenue TTM = 5.16b EUR
EBIT TTM = 423.5m EUR
EBITDA TTM = 685.5m EUR
Long Term Debt = 546.5m EUR (from longTermDebt, last quarter)
Short Term Debt = 35.2m EUR (from shortTermDebt, last quarter)
Debt = 881.9m EUR (from shortLongTermDebtTotal, last quarter) + Leases 168.0m
Net Debt = 813.3m EUR (calculated: Debt 881.9m - CCE 68.6m)
Enterprise Value = 2.33b EUR (1.52b + Debt 881.9m - CCE 68.6m)
Interest Coverage Ratio = 8.62 (Ebit TTM 423.5m / Interest Expense TTM 49.1m)
EV/FCF = 6.06x (Enterprise Value 2.33b / FCF TTM 385.0m)
FCF Yield = 16.50% (FCF TTM 385.0m / Enterprise Value 2.33b)
FCF Margin = 7.47% (FCF TTM 385.0m / Revenue TTM 5.16b)
Net Margin = 5.25% (Net Income TTM 270.7m / Revenue TTM 5.16b)
Gross Margin = 28.56% ((Revenue TTM 5.16b - Cost of Revenue TTM 3.68b) / Revenue TTM)
Gross Margin QoQ = 31.49% (prev 33.06%)
Tobins Q-Ratio = 1.24 (Enterprise Value 2.33b / Total Assets 1.89b)
Interest Expense / Debt = 5.57% (Interest Expense 49.1m / Debt 881.9m)
Taxrate = 13.71% (44.8m / 326.6m)
NOPAT = 365.4m (EBIT 423.5m * (1 - 13.71%))
Current Ratio = 0.58 (Total Current Assets 335.9m / Total Current Liabilities 575.6m)
Debt / Equity = 1.60 (Debt 881.9m / totalStockholderEquity, last quarter 552.7m)
Debt / EBITDA = 1.19 (Net Debt 813.3m / EBITDA 685.5m)
Debt / FCF = 2.11 (Net Debt 813.3m / FCF TTM 385.0m)
Total Stockholder Equity = 561.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 14.25% (Net Income 270.7m / Total Assets 1.89b)
RoE = 48.17% (Net Income TTM 270.7m / Total Stockholder Equity 561.9m)
RoCE = 38.20% (EBIT 423.5m / Capital Employed (Equity 561.9m + L.T.Debt 546.5m))
RoIC = 28.57% (NOPAT 365.4m / Invested Capital 1.28b)
WACC = 5.46% (E(1.52b)/V(2.40b) * Re(5.84%) + D(881.9m)/V(2.40b) * Rd(5.57%) * (1-Tc(0.14)))
Discount Rate = 5.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 13.48 | Cagr: 0.00%
[DCF] Terminal Value 75.72% ; FCFF base≈381.8m ; Y1≈390.2m ; Y5≈428.2m
[DCF] Fair Price = 234.5 (EV 6.64b - Net Debt 813.3m = Equity 5.82b / Shares 24.8m; r=8.35% [WACC [floored]]; 5y FCF grow 2.15% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 97.71 | Revenue CAGR: 17.43% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.72 | Chg30d=-3.19% | Revisions=+20% | GrowthEPS=+11.0% | GrowthRev=+2.1%
EPS next Year (2027-12-31): EPS=5.29 | Chg30d=-3.92% | Revisions=+20% | GrowthEPS=+12.2% | GrowthRev=+2.4%
[Analyst] Revisions Ratio: +20%