Roche Holding Ltd

ROG

Equity

ISIN CH0012032048 / Valor 1203204

SIX Swiss Exchange (2026-05-22)

CHF 334.50+1.24%

Roche Holding Ltd
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About company

Roche Holding Ltd is a Swiss multinational healthcare company headquartered in Basel that operates primarily through two businesses: Pharmaceuticals and Diagnostics. The Pharmaceuticals division develops and commercializes prescription medicines—particularly biologics and targeted therapies—across oncology, immunology, infectious diseases, neuroscience and ophthalmology, and includes the majority-owned US biotech unit Genentech; several well-known oncology drugs in its portfolio have driven its commercial profile. The Diagnostics division supplies laboratory and point-of-care instruments, reagents and software for clinical chemistry, molecular diagnostics, tissue-based cancer testing and diabetes care (including blood‑glucose systems), serving hospitals, clinical labs and blood‑screening organizations worldwide. Roche is research-intensive, invests heavily in R&D and in partnerships or acquisitions with other biotech firms to advance targeted and personalized medicine, and is publicly listed with a broad global commercialization and distribution footprint.

Summarized from source with an LLMView SourceSector: Healthcare

Top-line and growth

Group sales CHF 61.5bn (+7% CER; +2% in CHF). Pharmaceuticals up CHF 47.7bn (+9% CER) driven by Phesgo, Xolair, Ocrevus, Hemlibra, Vabysmo and Polivy; Diagnostics CHF 13.8bn (+2% CER) with growth in pathology/molecular despite China pricing reforms.

Profitability (IFRS vs Core)

Core operating profit CHF 21.8bn (+13% CER), core margin 35.5% (up vs 34.4%); IFRS operating profit CHF 18.5bn (+48% CER) benefited from a large 2024 goodwill impairment that did not recur in 2025. IFRS net income CHF 13.8bn (+58% CER); diluted IFRS EPS CHF 16.04.

Cash flow and balance sheet

Operating free cash flow CHF 16.2bn (–12% CER); free cash flow CHF 11.8bn (–15% CER) — impacted by higher trade receivables and collaboration payments (notably Zealand Pharma). Net debt improved to CHF 16.2bn (down CHF 1.2bn).

Capital allocation & shareholder return

Board proposes dividend CHF 9.80 (+1%), marking a 39th consecutive year of dividend growth; total shareholder return for 2025 was +32.0%. Credit ratings remain high (S&P AA, Moody’s Aa2, Fitch AA).

M&A, alliances and restructuring

2025 acquisitions include Poseida, 89bio and Pentavision (combined cash consideration ≈ USD 3.9bn initial). Alliance deals (e.g., Zealand Pharma) recognised CHF 2.5bn of intangible assets. Global restructuring costs CHF 2.16bn to drive productivity and system/process transformations.

One-off items and impairments

Impairment and non-core charges were much lower than 2024: goodwill/intangible impairment CHF 296m in 2025 vs CHF 4.4bn in 2024. Restructuring, amortisation and legal items remain reconciling items between IFRS and core results.

Other key points & risks

Effective core tax rate rose to 18.6%. Currency translation (strong CHF) reduced reported growth by several percentage points. Ongoing risks include biosimilar/generic competition (notably Avastin/Herceptin/MabThera legacy sales) and pricing reforms (notably in China) that affected Diagnostics.

Summarized from source with an LLMView Source

Key figures

29.1%1Y

16.8%3Y

7.63%5Y

Performance

22.9%1Y

21.1%3Y

20.3%5Y

Volatility