The Obermatt Swiss Pearls Index (OMSP1) is reviewed each month to replace the stock with the weakest 360° View with the strongest one not currently in the index. This month, Comet Holding AG enters the index and Burckhardt Compression Holding AG leaves it.
Burckhardt Compression makes room for Comet
Burckhardt Compression now carries the lowest 360° View of the 36 stocks in the index, at 16. Sentiment (20) and Growth (21) are weak, and the Combined rank of financial metrics only, at 35, offers little support. Safety at 70 is the one score that holds up. Customers are postponing investments in new systems and upgrades because of geopolitical uncertainty, which weighs on order volumes, and the company has finalized a restructuring plan with 148 job cuts at its Winterthur headquarters, including 60 roles that move to India.
Comet Holding AG takes its place with a 360° View of 94. Growth stands at 95 and Sentiment at 93, followed by a Combined rank of 80 and Safety at 73. Value is the weak spot at 18, which shows that the market has already priced in part of the recovery.
The third quarter explains the Growth score. Comet reported net sales of CHF 155.6 million, up 51.9% from a year earlier, while incoming orders rose 170% to CHF 275.6 million. The company raised its 2026 guidance to net sales of CHF 570 to 590 million, and management sees the semiconductor upswing reaching Comet.
Comet in the chip supply chain
Comet is a Swiss technology company focused on plasma control and X-ray technology. Its largest division, Plasma Control Technologies, generates more than half of net sales and supplies the RF power components that control the plasma used in chip manufacturing, such as the Synertia platform. These parts sit inside the machines that make semiconductors, so demand follows chipmaker investment, currently driven by AI processors and NAND flash memory. The Industrial X-Ray Modules division serves aerospace, security and defense, and the X-Ray Systems division is bringing a platform for advanced packaging toward commercialization.
The new plant in Penang, Malaysia, was completed in the second quarter and is planned to be fully operational in 2027. Its ramp-up and efficiency measures weigh on the 2026 EBITDA margin by up to 3 percentage points. The shares are up almost 46% since the start of the year, but strong Obermatt ranks keep us optimistic for continued growth. In July, a U.S. appeals court ordered a new trial in Comet's trade secrets case against XP Power, which Comet does not expect to have a material impact on its business.
Did You Know?
- Comet was founded in 1948, making X-ray tubes for medical use. It is headquartered in Flamatt, in the canton of Fribourg, and employs more than 1,800 people.
- In 1965 it added vacuum capacitors for radio broadcasting. The same product family is still in its range today, now also serving semiconductor production.
- Comet's production sites are located in China, Denmark, Germany, Malaysia, Switzerland and the USA and they have been producing RF power modules in Penang, Malaysia, since 2020.
News from the Swiss Pearls
The market news below comes from Obermatt's News Summaries, which track fresh coverage on a company and feed into the Market Pulse, a part of our Sentiment Rank. The full feature, covering every company on the platform, is available to Unlimited subscribers. The biggest news from our Swiss Pearls stocks this month:
DKSH Holding AG agreed to acquire NewBridge Pharmaceuticals at an enterprise value of USD 390 million, gaining a healthcare platform in 14 markets across the Middle East and North Africa and extending its healthcare business beyond Asia Pacific. Closing is expected by the end of the first quarter of 2027.
Alcon acquired Neurotech Pharmaceuticals for USD 550 million, adding Encelto, the only FDA-approved treatment for macular telangiectasia type 2, to its retina portfolio.
And Huber+Suhner grew net sales by 11.3% to CHF 734.1 million in the first nine months and confirmed its 2026 outlook of at least 10% organic sales growth. The Industry segment led with net sales up 31%, and the newly acquired Ingun business began contributing in September.
OMSP1 over the past three months
Since 27 July, the Obermatt Swiss Pearls Index has gained 4.8%. To put this recent performance in context, we compare it with two ETFs that follow the main Swiss indices: the UBS ETF - SMI, up 1.8%, and the UBS ETF - SPI, up 1.1%.
Price return in CHF, 27 July to 27 October 2026, starting at 0%. Past performance is not a reliable indicator of future results.
The Obermatt Swiss Pearls Index (Ticker: OMSP1) is available on the SIX Swiss Exchange. Learn more