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INFICON Holding AG logo

INFICON Holding AG

IFCN.SW
70
Hardware, Equipment & Parts · Technology
Also trades as: 0QK5.L
Price
CHF 177.20
+4.60 (+2.67%)
Market Cap
CHF 4.33B
Exchange
SIX Swiss Exchange
Winston Score
70
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 12, 2026 · filings through Jun 30, 2026

INFICON is a Swiss company that makes sensors and instruments used to detect, measure, and control gases and leaks. Its tools are used in semiconductor chip factories, refrigeration and air conditioning systems, and industrial manufacturing. The company is known for making highly precise measurement equipment that engineers rely on to keep production processes clean and accurate.

INFICON earns money by selling hardware instruments and related software and services to industrial customers around the world. It operates globally, with strong sales in North America, Europe, and Asia, and generates roughly $500–600 million in annual revenue. Its moat comes from deep technical expertise and the fact that its instruments are embedded in critical production processes, making customers unlikely to switch suppliers. The biggest growth driver is demand from semiconductor manufacturers, who need ever more precise gas and leak detection as chip designs become smaller and more complex — though a slowdown in chip industry spending would directly hurt INFICON's results.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+127.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+151.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$58M/ year

Rising (+13% vs prior year)

8.2% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

10.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$184M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

INFICON Holding AG grew revenue 128% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 24.4M (2021) → 24.4M (2025)

Score breakdown

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Quality

Gross Margin
46.3%
Healthy — 46.3% gross margin
Operating Margin
18.9%
Healthy — 18.9% operating margin
ROCE
13.5%
Good — 13.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+40.8%
Fast-growing sales (+40.8% YoY)
EPS YoY
+86.8%
Earnings growing fast (+86.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
122%
Turns 122% of profit into real cash
FCF Margin
13.4%
Converts sales into free cash efficiently (13.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity
0.25
Conservative — low debt load (0.25)
Interest Cover
500.35x
Comfortably covers interest (500.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
44.7x
Pricey — P/E 44.7

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
+23.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (44.7 → 21.6)

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Dividends

Dividend Yield
1.22%
Small dividend — 1.22% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-15.3%
Dividend cut (-15.3% YoY) — warning sign

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