Added to YB: 2026-09-10
Pitch date: 2026-09-08
BELL.SW [neutral]
Bell Food Group AG
+0.22%
current return
Author Info
Dismissed & Asset Backed has their heads stuck in 10Ks and 10Qs of 'old world' businesses trading below tangible book value. Sign up for the newsletter.
Company Info
Bell Food Group AG engages in the processing of meat and convenience products for the retail, food service, and food industries in Switzerland.
Market Cap
CHF 1.5B
Pitch Price
CHF 231.00
Price Target
367.00 (+58%)
Dividend
3.02%
EV/EBITDA
6.23
P/E
18.31
EV/Sales
0.47
Sector
Food Products
Category
value
Bell Food (BELL) – Below Tangible Book at the Coop Counter
BELL.SW (monitor): Bell Food remains a normalization case at 0.96x tangible book after rising 29% following 1H26 results. EBITDA increased 8.4%, EBIT 15.4% and free cash flow swung to CHF41M, while FY26 capex guidance fell to about CHF300M. The earnings scenario implies 58% upside including dividends by 2029, while the asset scenario implies 47% based on FY28 tangible book; both require margin improvement and normalized investment, without a clear financial-engineering or control catalyst.
Read full article (7 min)