Zehnder Group - Public Comps and Valuation Multiples

Zehnder Group Overview

About Zehnder Group

Zehnder Group AG is an indoor climate system supplier. The products and services of the Group include heating, cooling, indoor ventilation, and air cleaning. The business activity of the company is functioned through Europe and China and North America. The company has two segments, Ventilation and Radiators. The ventilation segment covers the three product lines for ventilation, heat exchangers and clean air solutions and generates maximum revenue. The radiator segment contains two product lines: radiators and climate ceilings. The company generates revenue from EMEA (Europe, Middle East, and Africa) Region.

Founded

1912

HQ

Employees

3.6K+

Website

zehndergroup.com

Sectors

Building Products

Financials

LTM Revenue $812M

LTM EBITDA $91.5M

EV

$950M

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Zehnder Group Financials

As of August 2025, Zehnder Group reported last 12-month revenue of $812M and EBITDA of $91.5M.

In the same period, Zehnder Group generated $529M in LTM gross profit and $39.8M in net income.

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Zehnder Group P&L

In the most recent fiscal year, Zehnder Group reported revenue of $884M and EBITDA of $50.1M.

Zehnder Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$812M	XXX	$884M	XXX	XXX	XXX
Gross Profit	$529M	XXX	$576M	XXX	XXX	XXX
Gross Margin	65%	XXX	65%	XXX	XXX	XXX
EBITDA	$91.5M	XXX	$50.1M	XXX	XXX	XXX
EBITDA Margin	11%	XXX	6%	XXX	XXX	XXX
EBIT	$60.4M	XXX	$46.0M	XXX	XXX	XXX
EBIT Margin	7%	XXX	5%	XXX	XXX	XXX
Net Profit	$39.8M	XXX	$2.1M	XXX	XXX	XXX
Net Margin	5%	XXX	0%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Zehnder Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $812M. EBITDA for the last twelve months was $91.5M. In the most recent fiscal year, Zehnder Group achieved $884M in revenue and $50.1M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$812M	Analyst estimates available to subscribers	$884M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$529M	Analyst estimates available to subscribers	$576M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	65.1% gross margin	Analyst estimates available to subscribers	65.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$91.5M	Analyst estimates available to subscribers	$50.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	11.3% EBITDA margin	Analyst estimates available to subscribers	5.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$60.4M	Analyst estimates available to subscribers	$46.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	7.4% EBIT margin	Analyst estimates available to subscribers	5.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$39.8M	Analyst estimates available to subscribers	$2.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	4.9% net profit margin	Analyst estimates available to subscribers	0.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Zehnder Group

This financial data table provides comprehensive performance metrics for Zehnder Group, a company based in Switzerland. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Zehnder Group generated $812M in revenue over the last twelve months.
The company achieved $91.5M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $529M.
Net income over the last twelve months reached $39.8M.

Fiscal Year Performance

In the most recent fiscal year, Zehnder Group reported $884M in total revenue.
Fiscal year EBITDA was $50.1M.
The company maintained a gross profit margin of 65.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 5.7%.
Net profit margin reached 0.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Zehnder Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Zehnder Group Stock Performance

Zehnder Group has current market cap of CHF 800M (or $1.0B), and EV of CHF 758M (or $950M).

Market Cap Evolution

Zehnder Group Stock Data

As of September 12, 2025, Zehnder Group's stock price is CHF 72 (or $90).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$950M	$1.0B	XXX	XXX	XXX	XXX	$4.72

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Zehnder Group Valuation Multiples

Zehnder Group's trades at 1.1x EV/Revenue multiple, and 19.0x EV/EBITDA.

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Zehnder Group Financial Valuation Multiples

As of September 12, 2025, Zehnder Group has market cap of $1.0B and EV of $950M.

Equity research analysts estimate Zehnder Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Zehnder Group has a P/E ratio of 23.6x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.0B	XXX	$1.0B	XXX	XXX	XXX
EV (current)	$950M	XXX	$950M	XXX	XXX	XXX
EV/Revenue	1.1x	XXX	1.1x	XXX	XXX	XXX
EV/EBITDA	9.7x	XXX	19.0x	XXX	XXX	XXX
EV/EBIT	14.7x	XXX	20.7x	XXX	XXX	XXX
EV/Gross Profit	1.7x	XXX	n/a	XXX	XXX	XXX
P/E	23.6x	XXX	470.7x	XXX	XXX	XXX
EV/FCF	20.3x	XXX	17.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Zehnder Group Margins & Growth Rates

Zehnder Group's last 12 month revenue growth is 5%

Zehnder Group's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Zehnder Group's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zehnder Group's rule of X is 24% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Zehnder Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	2%	XXX	XXX	XXX
EBITDA Margin	11%	XXX	6%	XXX	XXX	XXX
EBITDA Growth	16%	XXX	1%	XXX	XXX	XXX
Rule of 40	16%	XXX	11%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	24%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	60%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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