VAT Group VACN.SW
VAT Group is a Swiss manufacturer of high-precision vacuum valves, global leader in equipment for the semiconductor industry and other high-tech applications. VAT Group is a world leader in vacuum valves with exceptional quality (ROE 30.09%, operating margin 21.43%), but its valuation is extreme (P/E 93.57) and growth has been negative (-8.30% in revenue). The record order intake in H1 2026 suggests a recovery, but the market has already priced it in to a large extent.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
VAT Group is a Swiss manufacturer of high-precision vacuum valves, global leader in equipment for the semiconductor industry and other high-tech applications. VAT Group is a world leader in vacuum valves with exceptional quality (ROE 30.09%, operating margin 21.43%), but its valuation is extreme (P/E 93.57) and growth has been negative (-8.30% in revenue). The record order intake in H1 2026 suggests a recovery, but the market has already priced it in to a large extent.
Score by category
| Category | Score |
|---|---|
| Financial health | 7.6 |
| Quality / Moat | 8.3 |
| Valuation | 0.8 |
| Growth | 2.0 |
| Dividend | 2.5 |
| Momentum | 9.5 |
| Risk & Context | 3.3 |
OVERALL SCORE: 4.8/10
Context and risks
VAT Group is a key supplier to the semiconductor industry, a sector under pressure from geopolitical tensions and doubts about the AI investment cycle. Exposure to the semiconductor supply chain, with potential export controls, adds a context risk not captured by financial metrics.
News considered in the analysis
- VAT Group AG (VACNY) (H1 2026) Earnings Call Highlights: Record Order Intake and Strategic Expansion — El récord de pedidos en el primer semestre de 2026 es un dato material que apunta a una recuperación de la demanda, aunque el mercado ya lo ha descontado parcialmente tras la publicación de resultados.
- VAT Group AG (VTX:VACN) Will Pay A CHF07.00 Dividend In Three Days — El pago del dividendo es un hecho ya anunciado y sin impacto en la valoración.
- VAT Group AG (VACNY) Full Year 2025 Earnings Call Highlights: Record Cash Flow and Robust ... — Los resultados de 2025 ya son conocidos y están en el precio; el flujo de caja récord es un dato positivo pero no nuevo.
- Is Sandvik (SDVKY) Stock Outpacing Its Industrial Products Peers This Year? — Listículo de comparación genérica entre competidores, sin información nueva sobre VAT Group.
- Are Industrial Products Stocks Lagging Proto Labs (PRLB) This Year? — Comparativa sectorial genérica, sin relevancia para los fundamentales de VAT Group.
Verdict: Hold, with caution. The quality is undeniable, but the valuation leaves little room for error and the semiconductor cycle is uncertain.
Main risk: The main risk is the extreme valuation (P/E 93.57, EV/EBITDA 73.63) that prices in perfect growth; any disappointment in the semiconductor cycle or revenue recovery could trigger a severe correction.
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