AEBIAebi Schmidt Holding AG
Is the business good?
The checks split: nothing decisive, though thin cash backing (0.3×).
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is worsening vs a year ago.
A balanced mix of margins, efficiency, and leverage. ROE 2% = margin × turnover × leverage.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is AEBI?
Aebi Schmidt Holding AG earns 5.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 3.8 points below what the capital costs: growth destroys value
- Operating margin
- 4.5%
Operating margin · Farm & Heavy Construction Machinery median 5.1% · 12 months to Q2 2026
- Cash conversion
- 0.30×
Cash conversion · 1.22× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- +92%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2023 | 5.8% |
| FY2024 | 6.3% |
| FY2025 | 4.8% |
Details›
- Gross margin12 months to Q2 2026
- 19%
- Operating margin12 months to Q2 2026
- 4.5%
- Net margin12 months to Q2 2026
- 1.1%
- Free cash flow margin
- 0.30%
- R&D as % of revenue
- 1.5%
- Revenue, trailing twelve months
- $1.95B
- Free cash flow, trailing twelve months
- $5.9M
- Net income, trailing twelve months
- $21M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Farm & Heavy Construction Machinery
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