Aebi Schmidt Holding AG

Diversified specialty-vehicle manufacturer growing via the Shyft merger but with mid-pack, low-margin economics.

Strengths

• 41% revenue growth and operating margin 4.8% (59th pct) with a deep portfolio of century-old brands and strong cash runway
• Reasonable liquidity (current ratio 1.9) and broad geographic/end-market diversification

Risks

• Thin profitability (net margin 0.6%, ROE 1.2%, gross margin 20% at 19th pct) and slightly negative FCF
• Integration risk from the Shyft acquisition, tariff/supply-chain exposure on chassis and components

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Cash burnNegative free cash flow (-5.2M)
• Revenue declineRevenue -13.8% YoY