Bachem stock holds after 2025 revenue and EBITDA gains

Bachem Holding AG (ISIN CH0012530207) centers on 2025 revenue of CHF 604.8 million and recurring EBITDA of CHF 136.0 million, with 2026 capital expenditure planned at CHF 100 million. The investor site and annual-report materials also show a business that is still expanding from a 2024 base, while the company’s shares trade in Switzerland under a CHF-denominated listing.

Revenue at CHF 604.8 million

For 2025, Bachem reported revenue of CHF 604.8 million, while recurring EBITDA reached CHF 136.0 million. That combination points to an operating margin profile that investors can compare directly with the prior year and with management’s own investment cadence.

The company also disclosed CHF 100 million in capital expenditure for 2026, a number that matters because it shows how much cash is still being directed into capacity and process infrastructure. In Swiss franc terms, the spending plan is part of the same growth story as the 2025 sales base.

EBITDA and capex in 2026

Recurring EBITDA of CHF 136.0 million in 2025 gives Bachem a second anchor beyond revenue, and the CHF 100 million capex plan for 2026 gives a third dated number that helps frame the next stage of execution. The comparison is concrete: the company is moving from a reported 2025 operating result into a 2026 investment program sized at roughly three-quarters of that EBITDA figure.

That ratio does not say anything about valuation by itself, but it does show why operating leverage and capital intensity remain central to the Bachem stock story. The market will read the numbers together rather than in isolation.

What the product line implies

Bachem’s peptide and oligonucleotide manufacturing platform remains the commercial core behind those numbers. In practical terms, the 2025 revenue and 2026 capex figures suggest that the company is still funding scale, quality, and process capacity for complex pharmaceutical ingredients rather than treating the current phase as a maintenance cycle.

That business mix matters because it ties reported sales directly to long-dated industrial execution, not to a single product launch. For investors, the relevant question is how quickly the spending program can be turned into sustained earnings power.

Switzerland listing frame

Bachem shares trade in Switzerland, and the stock should be read through that local market lens. The article is anchored by the reported 2025 revenue of CHF 604.8 million, recurring EBITDA of CHF 136.0 million, and 2026 capex of CHF 100 million, which together define the current financial frame.