One-glance verdict
Overvalued
$10.58 our estimate vs market $14.15
34% above our estimate, beyond the bull case
Fundamentals snapshot
Landis+Gyr Group AG
LDGYY · PNK · Industrials · Electrical Equipment & Parts
Current price
$14.15
52-week range
$12.75 - $20.52
Market cap
$1.51B
Balance sheet
Stretched
3.36x Stretched
Net debt $244.51M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 4.2% last year.
- Reward Free cash flow was positive in 3/10 years.
- Risk Stock trades 136.5% above its 5-year average P/E.
- Risk Net debt grew 51.7% over 3 years.
What this company does
Landis+Gyr Group AG
Landis+Gyr makes the smart meters that utility companies use to measure electricity, water, and gas. They earn money not just from selling the physical meters but also from the software and services that help utilities manage them, creating a predictable income stream called recurring revenue (money that comes in consistently from ongoing services, not just one-time sales). This helps utilities operate more efficiently and gives Landis+Gyr a stable business.
How the company got here
Founded in Switzerland in 1896, Landis+Gyr started by making electricity meters as the use of electricity was just beginning to spread. The company grew by expanding to other countries and creating new products, eventually becoming a global leader in its field. After a series of ownership changes involving different large companies over the years, including Toshiba, Landis+Gyr is now a publicly traded company. Recently, the company sold its European business to focus more on the Americas and Asia.
What it actually does
Landis+Gyr makes smart meters for electricity, gas, and water, which are devices that automatically track and send usage information to utility companies. Think of it as an upgrade from the old meters that someone had to visit your house to read. The company also provides the software and communication networks that allow these meters to talk to the utilities. This technology helps power companies manage the flow of energy more efficiently, a system often called the 'smart grid'.
Connected Platforms
This is the company's largest business area and includes the physical devices you might see on a house or in a business. It's responsible for making and selling smart meters, communication gadgets that connect the meters, and the services to install and maintain them. Utility companies pay for these products and services to build modern systems for tracking energy use. This segment provides the essential hardware and foundational network that everything else is built upon, making up the majority of the company's sales.
Grid Intelligence
This part of the business is focused on software and data analysis. It provides utilities with powerful software tools that take the data from smart meters and turn it into useful insights for managing the power grid. This includes services that are paid for on a recurring basis, much like a subscription. This is a smaller but more profitable (higher margin, meaning more of each sales dollar is kept as profit) and growing part of the company.
What management is betting on now
The company is focusing its efforts on the Americas and Asia-Pacific regions, seeing these as the most attractive markets for growth. Management is heavily investing in what it calls 'Grid Edge Intelligence,' which means making the power grid smarter with more advanced sensors and software. They are also developing solutions for newer energy trends, like managing electric vehicle charging and helping utilities handle the increasing power demands from things like data centers. The goal is to sell more high-value software and services that generate recurring revenue (ongoing, predictable income from subscriptions or contracts).
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $10.58 vs current price $14.15
Our most-likely fair value is $10.58 a share — about 25.2% below today's price of $14.15, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Stretched
Net debt $244.5M. Interest coverage 3.4x.
Net debt
$244.51M
Interest coverage
3.36x
Landis+Gyr Group AG's profit covers its interest bill about 3.4 times over. which is weaker than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
LDGYY
BASELINE
Landis+Gyr Group AG
Total debt $477.42M Interest coverage 3.36x This is the baseline the peer rows are being compared against.
Total debt $1.60B Interest coverage 13.99x +317% vs LDGYY Carries about 4.2x more debt cushion than LDGYY.
Total debt $23.48M Interest coverage 35.80x +967% vs LDGYY Carries about 10.7x more debt cushion than LDGYY.
Total debt $3.06B Interest coverage 45.72x +1,262% vs LDGYY Carries about 13.6x more debt cushion than LDGYY.
Total debt $5.56B Interest coverage 18.86x +462% vs LDGYY Carries about 5.6x more debt cushion than LDGYY.
Total debt $1.38B Interest coverage 10.48x +212% vs LDGYY Carries about 3.1x more debt cushion than LDGYY.
What you should know
The case for and against LDGYY
3 Rewards
3 Risks
Rewards
-
Revenue grew 4.2% last year.
-
Free cash flow was positive in 3/10 years.
-
Dividend yield is 2.6% with 9-year payout history.
Risks
-
Stock trades 136.5% above its 5-year average P/E.
-
Net debt grew 51.7% over 3 years.
-
Insider ownership is only 0.0% (peer median: 0.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
39.31x
Forward P/E
—
P/B
1.45x
P/S
1.29x
EV/EBITDA
11.37x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
33.2%
Operating margin
10.8%
Net margin
-14.5%
ROE
3.4%
ROA
2.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.43x
Current ratio
1.50x
Quick ratio
0.72x
Total debt
$477.42M
Total cash
$232.90M
Growth
How the business has been compounding
Revenue TTM
$1.17B
Revenue 5Y CAGR
-11.5%
EPS TTM
0.36
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$98.28M
Free CF TTM
$59.77M
FCF margin
5.1%
Dividend
Shareholder payout
Yield
2.6%
Payout ratio
101.7%
Last ex-div date
2026-07-01