Dormakaba stock advances as margin gains meet hotel software deal

Published on 10/06/2026 at 13:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Dormakaba stock was at CHF 65.00 on October 6, 2026, up 1.4 percent on SIX. Fiscal 2025/26 revenue reached CHF 2.79 billion, with a 16.1 percent adjusted EBITDA margin.

Schwarzweiß-Reportagefoto eines Technikers bei der Montage eines Türschließzylinders — Dormakaba Holding AG (CH0011795959) illustriert in Schwarzweiß-Reportage die präzise Montage eines Schließzylinders durch einen Techniker, Illustration mit AI erstellt.

Dormakaba stock (ISIN CH1486524122) was trading at CHF 65.00 on SIX at 12:35 p.m. CEST on October 6, 2026, up 1.4 percent from the prior close. The latest strategic signal is the acquisition of hotel software company Alliants, announced on September 15, 2026, according to TravHQ.

Hotel software expands the offer

Alliants operates a guest-experience platform covering more than 100,000 hotel rooms, with concierge tools, contactless check-in, mobile keys, payments and messaging. The transaction is expected to close during 2026 after regulatory approval, while financial terms were not disclosed, TravHQ reported on September 21, 2026.

The deal broadens dormakaba from physical access hardware into software used during the hotel stay. That combination gives the company a route to connect locks, mobile access, guest communication and payments in one customer relationship.

Margins carry the financial case

For fiscal year 2025/26, dormakaba generated revenue of CHF 2.79 billion and adjusted EBITDA of CHF 449 million, equal to a 16.1 percent adjusted EBITDA margin, according to TravHQ. The company also delivered 3.0 percent organic growth, which was the bottom of its 3 percent to 5 percent guidance range for the year, Investing.com reported on September 28, 2026.

Cost savings exceeded CHF 235 million, compared with a CHF 170 million target, while pricing contributed 2.6 percentage points and volume contributed 0.4 percentage points to organic growth. Currency movements reduced revenue by 4.9 percent, making margin execution more important than headline sales growth.

Analyst target stays above the stock

Jefferies upgraded dormakaba from Hold to Buy on September 28, 2026, and raised its price target from CHF 70 to CHF 82, according to Investing.com. The CHF 82 target represented 34 percent upside to the CHF 61.30 closing price on September 25, 2026.

The same assessment expects adjusted EBITDA margin to reach 18 percent by fiscal year 2028/29, compared with 16.1 percent in fiscal year 2025/26. The counter-factor is execution: the brokerage highlighted the risk that the North American growth strategy could take longer to deliver.

Stock remains below its yearly high

Dormakaba stock was trading at CHF 65.00 on SIX at 12:35 p.m. CEST on October 6, 2026. The price sits CHF 7.90 below the 52-week high of CHF 72.90 and CHF 17.85 above the 52-week low of CHF 47.15.