Is Holcim stock a buy after these results?

We see a solid case built on an 18.3% recurring EBIT margin, strong cash conversion, and a proposed CHF 1.70 dividend. Our system’s Stock Grade is B+ with a Buy tilt. Still, FX translation and deal execution are key risks. Consider entries near support and watch guidance for 2026 accretion.

What is the recurring EBIT margin and why does 18.3% matter?

Recurring EBIT margin measures operating profitability excluding one-offs. At 18.3%, Holcim sits near the top of the industry, showing strong pricing and mix. A high, stable margin supports cash flow, cushions volume swings, and gives room for dividends, buybacks, and selective M&A without stressing the balance sheet.

What does the proposed CHF 1.70 dividend signal?

It signals confidence in cash generation while keeping flexibility for investments and deals. With around CHF 2 billion free cash flow guidance, the payout looks sustainable in our view. Final approval rests with shareholders at the AGM. We will watch for any update on buybacks that could lift total returns.

How could the Xella acquisition or Pacasmayo affect Holcim?

If pursued on disciplined terms, these targets could deepen specialty exposure and expand regional reach. The focus would be on synergy delivery, integration pace, and returns above the cost of capital. Regulatory reviews and funding mix matter too. Until any formal announcements, these remain potential rather than certain catalysts.

What are the main risks for Swiss investors now?

Key risks include CHF strength reducing reported growth, input cost spikes, and softer construction demand in Europe. M&A execution and regulatory timelines can add volatility. We track margin resilience, cash conversion, and leverage. Clear capital allocation updates can offset macro noise and support Holcim stock over time.

Global Market Insights

HOLN.SW Stock Today, February 27: EBIT Margin 18.3%, 2026 M&A Push

ByHuzaifa Zahoor February 27, 2026

Holcim stock is in focus in Switzerland today after strong 2025 results and a clear 2026 playbook. Shares of HOLN.SW ride a margin story, with recurring EBIT up 10.3% in local currency and an industry-leading 18.3% margin. Management proposed a CHF 1.70 dividend, guided to around CHF 2 billion in free cash flow, and flagged more dealmaking in 2026. Investors in CH should weigh the margin beat, cash returns, and the M&A pipeline against possible Swiss franc translation effects on reported figures.