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Sonova Holding AG SOON

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Stock XSWX Rating as of
CHF 278.10 +10.40 (3.88%)
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Company Report

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Hearing Market Continues to Rebound for Sonova

Alex Morozov

Sonova benefits from favorable trends, including an aging population, increasing noise pollution, fairly low penetration rates for hearing aids in the developed world, and virtually untapped patient populations in emerging markets. Its broad product offerings should allow the company to capitalize on these trends, while its strong brand and superior technological know-how should yield market share gains.

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Price vs Fair Value

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SOON is trading at a 347% premium.
Price
CHF 267.70
Fair Value
CHF 934.00
Uncertainty
Medium
1-Star Price
CHF 463.90
5-Star Price
CHF 349.60
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Premium products account for a significant portion of Sonova's total revenue, limiting the firm's dependence on price-sensitive economy-class systems.

Bears

WS Audiology (previously Sivantos and Widex) is regaining momentum, particularly in emerging markets. Its acquisition of Widex could threaten the positioning of premium providers.

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Trading Information

Previous Close Price
CHF 267.70
Day Range
CHF 274.20–286.40
52-Week Range
CHF 205.80–292.10
Bid/Ask
CHF 278.00 / CHF 278.20
Market Cap
CHF 16.62 Bil
Volume/Avg
168,693 / 134,834

Key Statistics

Price/Earnings (Normalized)
22.45
Price/Sales
4.39
Dividend Yield (Trailing)
1.72%
Dividend Yield (Forward)
1.72%
Total Yield
2.76%

Company Profile

Sonova is one of the world's largest manufacturers and distributors of hearing aids. The company is based in Switzerland and distributes its products in more than 100 countries through its internal sales team and independent retailers. It also sells cochlear implants through its advanced bionics subsidiary and recently acquired Sennheiser's consumer division to expand into audio technologies.
Sector
Healthcare
Industry
Medical Devices
Stock Style Box
Large Core
Total Number of Employees
17,636
Website
https://www.sonova.com

Competitors

Valuation

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Metric
SOON
GN
DEMANT
Price/Earnings (Normalized)
 22.4526.7928.43
Price/Book Value
 7.562.977.66
Price/Sales
 4.391.603.20
Price/Cash Flow
 20.7711.3516.58
Price/Earnings
SOON
GN
DEMANT

Financial Strength

Metric
SOON
GN
DEMANT
Quick Ratio
 0.760.410.84
Current Ratio
 1.290.591.37
Interest Coverage
 29.183.996.91
Quick Ratio
SOON
GN
DEMANT

Profitability

Metric
SOON
GN
DEMANT
Return on Assets (Normalized)
 11.96%1.71%8.40%
Return on Equity (Normalized)
 30.61%5.73%28.27%
Return on Invested Capital (Normalized)
 22.85%3.07%12.19%
Return on Assets
SOON
GN
DEMANT
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