Switzerland's VAT Group FY estimated sales miss estimates

VAT AG

15/01/2026 05:48

Overview

Swiss vacuum valve maker's Q4 prelim orders rose 14% yr/yr, driven by AI demand

Q4 sales of CHF 257 mln exceeded company's own guidance but fell 9% yr/yr

Full-year 2025 sales missed analyst expectations

Outlook

VAT expects semiconductor market to reach USD 1 trillion in 2026

Company sees strong demand for AI applications driving growth in 2026

VAT anticipates increased capex from hyperscalers in 2026

Result Drivers

AI AND TECH TRANSITIONS - Strong Q4 order performance driven by demand for AI applications and technology transitions in semiconductors

CHINA DEMAND - Ongoing strong demand from Chinese customers contributed to Q4 order growth

PRE-ORDERS - Q4 included CHF 30-35 mln in pre-orders ahead of price increases

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Sales
Miss
CHF 1.07 bln
CHF 1.11 bln (13 Analysts)
FY EBITDA Margin
30.00%
FY Order Backlog
CHF 304 mln
FY Orders
CHF 1.03 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

Wall Street's median 12-month price target for VAT Group AG is CHF427.00, about 1.7% below its January 14 closing price of CHF434.60

The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 34 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)