Dormakaba stock builds on record margin and 3% organic growth

Published on 10/04/2026 at 16:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Dormakaba stock enters October with CHF 2,792.4 million in fiscal 2025/26 revenue. Adjusted operating cash flow margin reached 12.5%, and the AGM is set for October 20, 2026.

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 last at CHF 62 on SIX on October 2, 2026 at 5:30 p.m. CEST, while fiscal 2025/26 delivered CHF 2,792.4 million in net sales and 3% organic growth. In the full-year investor webcast, Yahoo Finance reported that the company entered its next fiscal year with a strong order book and a shift from transformation toward profitable growth.

Record margin meets organic growth

The key result was adjusted EBITDA of CHF 449 million and a record adjusted EBITDA margin of 16.1% in fiscal 2025/26. The margin improved by 60 basis points year-on-year, while organic growth accelerated to 4% in the second half from 3% for the full year, according to Yahoo Finance.

Cash generation also strengthened. Adjusted operating cash flow reached CHF 349.6 million, equal to a 12.5% margin and an 80-basis-point year-on-year improvement, while net debt stood at CHF 358.1 million.

US growth carries the next test

The next phase depends on turning the stronger second half into durable growth in North America. Management targets organic net sales growth above 3%, an operating profit margin above 11% and an operating cash flow margin of 10.5%-11.5% for fiscal 2026/27, as detailed by Yahoo Finance.

Jefferies upgraded Dormakaba to Buy from Hold and lifted its price target to CHF 82 from CHF 70 on September 28, 2026, citing margin expansion and US growth, Investing.com reported. Against the October 2 price, the CHF 82 target is 32.3 percent higher, while execution in the US remains the principal risk identified in the report.

Stock remains below yearly high

Dormakaba stock was last at CHF 62 on October 2, 2026, with a market capitalization of CHF 2.6 billion and volume of 35,053 shares. The price stood 15.0 percent below the 52-week high of CHF 72.90 and above the 52-week low of CHF 47.15.