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Liechtensteinische Landesbank

SWX:LLBN
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LLBN
SWX
CHF2B
Market Cap
  1. Home
  2. CH
  3. Banks
Company description

Liechtensteinische Landesbank Aktiengesellschaft provides banking products and services in Liechtenstein, Switzerland, Austria, Germany, Central and Eastern Europe, the Middle East, and internationally. The last earnings update was 122 days ago. More info.


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LLBN Share Price and Events
7 Day Returns
-1.9%
SWX:LLBN
-1.2%
CH Banks
-2%
CH Market
1 Year Returns
-0.5%
SWX:LLBN
-1.1%
CH Banks
3.7%
CH Market
LLBN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Liechtensteinische Landesbank (LLBN) -1.9% 0.2% -10.7% -0.5% - -
CH Banks -1.2% -1.1% -5.3% -1.1% 9.5% 24.3%
CH Market -2% -0.9% 2.2% 3.7% 13.9% 12.9%
1 Year Return vs Industry and Market
  • LLBN matched the Banks industry (-1.1%) over the past year.
  • LLBN underperformed the Market in Switzerland which returned 3.7% over the past year.
Price Volatility
LLBN
Industry
5yr Volatility vs Market

LLBN Value

 Is Liechtensteinische Landesbank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Liechtensteinische Landesbank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Liechtensteinische Landesbank.

SWX:LLBN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CHF68.72 * 5.3%
CHF3.66
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. CHF68.72
Discount Rate (Cost of Equity) See below 11%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:LLBN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 12.5%) (160.14%))
1.29
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (1.29 * 5.96%)
10.96%

Discounted Cash Flow Calculation for SWX:LLBN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Liechtensteinische Landesbank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SWX:LLBN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.3% – 10.96%) * CHF68.72)
CHF-3.87
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-3.87 / (10.96% - 3.28%)
CHF-50.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF68.72 + CHF-50.39
CHF18.33
SWX:LLBN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF18.33
Current discount Discount to share price of CHF61.10
= -1 x (CHF61.10 - CHF18.33) / CHF18.33
-233.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Liechtensteinische Landesbank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Liechtensteinische Landesbank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Liechtensteinische Landesbank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:LLBN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF2.62
SWX:LLBN Share Price ** SWX (2019-07-12) in CHF CHF61.1
Switzerland Banks Industry PE Ratio Median Figure of 17 Publicly-Listed Banks Companies 16x
Switzerland Market PE Ratio Median Figure of 174 Publicly-Listed Companies 17.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Liechtensteinische Landesbank.

SWX:LLBN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:LLBN Share Price ÷ EPS (both in CHF)

= 61.1 ÷ 2.62

23.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liechtensteinische Landesbank is overvalued based on earnings compared to the CH Banks industry average.
  • Liechtensteinische Landesbank is overvalued based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Liechtensteinische Landesbank's expected growth come at a high price?
Raw Data
SWX:LLBN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
16.2%per year
Switzerland Banks Industry PEG Ratio Median Figure of 6 Publicly-Listed Banks Companies 7.17x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.21x

*Line of best fit is calculated by linear regression .

SWX:LLBN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.31x ÷ 16.2%

1.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liechtensteinische Landesbank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Liechtensteinische Landesbank's assets?
Raw Data
SWX:LLBN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF61.49
SWX:LLBN Share Price * SWX (2019-07-12) in CHF CHF61.1
Switzerland Banks Industry PB Ratio Median Figure of 17 Publicly-Listed Banks Companies 0.91x
Switzerland Market PB Ratio Median Figure of 215 Publicly-Listed Companies 1.64x
SWX:LLBN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:LLBN Share Price ÷ Book Value per Share (both in CHF)

= 61.1 ÷ 61.49

0.99x

* Primary Listing of Liechtensteinische Landesbank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liechtensteinische Landesbank is overvalued based on assets compared to the CH Banks industry average.
X
Value checks
We assess Liechtensteinische Landesbank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Liechtensteinische Landesbank has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LLBN Future Performance

 How is Liechtensteinische Landesbank expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Liechtensteinische Landesbank expected to grow at an attractive rate?
  • Liechtensteinische Landesbank's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Liechtensteinische Landesbank's earnings growth is expected to exceed the Switzerland market average.
  • Liechtensteinische Landesbank's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:LLBN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:LLBN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 16.2%
SWX:LLBN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 5.5%
Switzerland Banks Industry Earnings Growth Rate Market Cap Weighted Average 3%
Switzerland Banks Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:LLBN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:LLBN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 477 135 2
2020-12-31 462 126 2
2019-12-31 450 114 2
SWX:LLBN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 400 2,275 78
2018-09-30 396 1,245 84
2018-06-30 393 215 91
2018-03-31 396 633 98
2017-12-31 399 1,051 106
2017-09-30 403 1,475 109
2017-06-30 406 1,900 113
2017-03-31 389 1,430 106
2016-12-31 372 960 98
2016-09-30 347 503 93
2016-06-30 321 46 87
2016-03-31 317 545 85

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Liechtensteinische Landesbank's earnings are expected to grow by 16.2% yearly, however this is not considered high growth (20% yearly).
  • Liechtensteinische Landesbank's revenue is expected to grow by 5.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:LLBN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Liechtensteinische Landesbank Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:LLBN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.68 4.68 4.68 1.00
2020-12-31 4.36 4.36 4.36 1.00
2019-12-31 3.94 3.94 3.94 1.00
SWX:LLBN Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 2.62
2018-09-30 2.87
2018-06-30 3.14
2018-03-31 3.40
2017-12-31 3.66
2017-09-30 3.79
2017-06-30 3.92
2017-03-31 3.66
2016-12-31 3.40
2016-09-30 3.22
2016-06-30 3.03
2016-03-31 2.95

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Liechtensteinische Landesbank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Liechtensteinische Landesbank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Liechtensteinische Landesbank has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LLBN Past Performance

  How has Liechtensteinische Landesbank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Liechtensteinische Landesbank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Liechtensteinische Landesbank's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Liechtensteinische Landesbank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Liechtensteinische Landesbank's 1-year earnings growth is negative, it can't be compared to the CH Banks industry average.
Earnings and Revenue History
Liechtensteinische Landesbank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Liechtensteinische Landesbank Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:LLBN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 399.66 77.99 289.12
2018-09-30 396.45 84.29 283.42
2018-06-30 393.23 90.59 277.71
2018-03-31 396.30 98.17 274.14
2017-12-31 399.37 105.74 270.57
2017-09-30 402.82 109.47 258.45
2017-06-30 406.27 113.19 246.32
2017-03-31 388.97 105.69 244.88
2016-12-31 371.67 98.18 243.43
2016-09-30 346.56 92.76 239.78
2016-06-30 321.45 87.34 236.13
2016-03-31 317.30 85.04 231.90
2015-12-31 313.16 82.73 227.67
2015-09-30 315.65 75.78 238.44
2015-06-30 318.14 68.84 249.22
2015-03-31 329.80 69.51 258.52
2014-12-31 341.47 70.18 267.82
2014-09-30 359.93 73.92 247.80
2014-06-30 377.57 77.16 228.39
2014-03-31 404.59 63.49 259.40
2013-12-31 431.61 49.82 290.41
2013-09-30 428.79 46.92 313.64
2013-06-30 425.96 44.02 336.87
2013-03-31 417.43 67.71 320.52
2012-12-31 408.89 91.40 304.18
2012-09-30 382.33 65.53 332.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Liechtensteinische Landesbank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Liechtensteinische Landesbank used its assets less efficiently than the CH Banks industry average last year based on Return on Assets.
  • Unable to establish if Liechtensteinische Landesbank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Liechtensteinische Landesbank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Liechtensteinische Landesbank has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LLBN Health

 How is Liechtensteinische Landesbank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Liechtensteinische Landesbank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Liechtensteinische Landesbank Company Filings, last reported 6 months ago.

SWX:LLBN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,009.70 3,001.37 2,953.87
2018-09-30 2,009.70 3,001.37 2,953.87
2018-06-30 1,871.18 2,757.75 4,768.92
2018-03-31 1,871.18 2,757.75 4,768.92
2017-12-31 1,882.98 2,229.87 2,008.97
2017-09-30 1,882.98 2,229.87 2,008.97
2017-06-30 1,822.40 2,324.84 5,116.72
2017-03-31 1,822.40 2,324.84 5,116.72
2016-12-31 1,806.37 2,013.07 657.05
2016-09-30 1,806.37 2,013.07 657.05
2016-06-30 1,726.03 2,260.46 3,345.97
2016-03-31 1,726.03 2,260.46 3,345.97
2015-12-31 1,759.35 2,038.64 607.83
2015-09-30 1,759.35 2,038.64 607.83
2015-06-30 1,713.01 2,030.64 3,174.86
2015-03-31 1,713.01 2,030.64 3,174.86
2014-12-31 1,739.89 1,803.70 928.56
2014-09-30 1,754.42 1,803.70 928.56
2014-06-30 1,754.02 1,736.85 2,849.77
2014-03-31 1,754.02 1,736.85 2,849.77
2013-12-31 1,767.20 2,218.14 1,404.00
2013-09-30 1,767.20 2,218.14 1,404.00
2013-06-30 1,686.10 1,867.98 2,883.98
2013-03-31 1,686.10 1,867.98 2,883.98
2012-12-31 1,709.31 2,085.06 1,298.29
2012-09-30 1,697.47 12,531.44 1,298.29
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Liechtensteinische Landesbank has an acceptable proportion of non-loan assets held.
  • Liechtensteinische Landesbank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Liechtensteinische Landesbank are broadly funded by customer deposits.
  • Liechtensteinische Landesbank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Liechtensteinische Landesbank has a low allowance for bad loans.
  • Liechtensteinische Landesbank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Liechtensteinische Landesbank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Liechtensteinische Landesbank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LLBN Dividends

 What is Liechtensteinische Landesbank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.44%
Current annual income from Liechtensteinische Landesbank dividends. Estimated to be 3.99% next year.
If you bought CHF2,000 of Liechtensteinische Landesbank shares you are expected to receive CHF69 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Liechtensteinische Landesbank's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.96%).
  • Liechtensteinische Landesbank's dividend is below the markets top 25% of dividend payers in Switzerland (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:LLBN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Switzerland Banks Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 3.6%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 167 Stocks 3%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2%
Switzerland Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:LLBN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.62 2.00
2020-12-31 2.45 2.00
2019-12-31 2.25 2.00
SWX:LLBN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-14 2.100 3.191
2018-07-04 0.000 0.000
2018-02-23 2.000 3.429
2017-05-23 1.700 3.458

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Liechtensteinische Landesbank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Liechtensteinische Landesbank only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Liechtensteinische Landesbank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Liechtensteinische Landesbank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Liechtensteinische Landesbank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Liechtensteinische Landesbank has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LLBN Management

 What is the CEO of Liechtensteinische Landesbank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Roland Matt
COMPENSATION CHF1,379,000
AGE 49
TENURE AS CEO 7.5 years
CEO Bio

Liechtensteinische Landesbank (Österreich) AG - Education: • Business economist FH, 1995. • Federally qualified financial analyst and asset manager, 1999. • Federally qualified finance and investment expert, 2002. -Professional career: • Head of Research at VP Bank AG, Vaduz, 1999. • Head of Asset Management Division at VP Bank AG, Vaduz, 2000 – 2001. • Family Office Project Head at VP Bank AG, Vaduz, 2002. - Liechtensteinische Landesbank AG (“Liechtensteinische Landesbank”): • Head of Investment Services, 2002 – 2006. • Head of Domestic Clients Division, 2007 – 2008. • Member of the Group Executive Board and the Board of Management, since 2009. • Head of Domestic Market and Institutional Market Divisions, 2009 until March 2011. • Head of International Market Division, April 2011 until January 2012. • Vice Chairman of the Group Executive Board and the Board of Management, April 2011 until January 2012. • Group Chief Executive Officer, since January 2012. Board of Directors’ mandates in Liechtensteinische Landesbank Group companies: • LLB Asset Management AG (Member). • LLB Berufliche Vorsorge AG, Lachen (Chairman). • Liechtensteinische Landesbank (Österreich) AG (Member). Other functions: Member of the Board of Trustees of the “Future Foundation of Liechtensteinische Landesbank AG”.

CEO Compensation
  • Roland's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Roland's remuneration is about average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Liechtensteinische Landesbank management team in years:

6.8
Average Tenure
47.5
Average Age
  • The average tenure for the Liechtensteinische Landesbank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Roland Matt

TITLE
Group CEO & Group Chairman of Executive Board
COMPENSATION
CHF1M
AGE
49
TENURE
7.5 yrs

Christoph Reich

TITLE
Group CFO & Member of Executive Board
AGE
45
TENURE
7 yrs

Urs Müller

TITLE
Head of Retail & Corporate Banking Division
AGE
57
TENURE
8.3 yrs

Gabriel Brenna

TITLE
Division Head of Private Banking & Member of Management Board
AGE
46
TENURE
6.8 yrs

Natalie Epp

TITLE
Head of Institutional Clients Division & Member of Executive Board
AGE
42
TENURE
3 yrs

Patrick Fürer

TITLE
Group COO & Member of Executive Board
AGE
54
TENURE
0.5 yrs

Roger Dornier

TITLE
Head of Group Legal & Compliance
TENURE
2.3 yrs

Cyrill Sele

TITLE
Head of Group Corporate Communications & General Secretary

Michaela Alt

TITLE
Head of Group Marketing

Jan-Friedrich Brünings

TITLE
Group Corporate Development
Board of Directors Tenure

Average tenure and age of the Liechtensteinische Landesbank board of directors in years:

1.2
Average Tenure
56
Average Age
  • The average tenure for the Liechtensteinische Landesbank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Georg Wohlwend

TITLE
Chairman of the Board
COMPENSATION
CHF420K
AGE
56
TENURE
2.2 yrs

Gabriela Nagel-Jungo

TITLE
Vice-Chairwoman of the Board
COMPENSATION
CHF140K
AGE
50
TENURE
1.2 yrs

Richard Senti

TITLE
Director
COMPENSATION
CHF66K
AGE
54
TENURE
1.2 yrs

Patrizia Holenstein

TITLE
Director
COMPENSATION
CHF97K
AGE
62
TENURE
6.2 yrs

Urs Leinhäuser

TITLE
Director
COMPENSATION
CHF99K
AGE
60
TENURE
5.2 yrs

Thomas Russenberger

TITLE
Director
COMPENSATION
CHF57K
AGE
43
TENURE
1.2 yrs

Karl Sevelda

TITLE
Director
AGE
69
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Liechtensteinische Landesbank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Liechtensteinische Landesbank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LLBN News

Simply Wall St News

Is Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) A Great Dividend Stock?

Could Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) be an attractive dividend share to own for the long haul? … Conclusion When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. … While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than Liechtensteinische Landesbank out there.

Simply Wall St -

Should You Be Tempted To Sell Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) Because Of Its P/E Ratio?

We'll look at Liechtensteinische Landesbank Aktiengesellschaft's (VTX:LLBN) P/E ratio and reflect on what it tells us about the company's share price. … Check out our latest analysis for Liechtensteinische Landesbank How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Liechtensteinische Landesbank: P/E of 24.42 = CHF64 ÷ CHF2.62 (Based on the year to December 2018.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

What Kind Of Shareholders Own Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN)?

A look at the shareholders of Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) can tell us which group is most powerful. … Insider Ownership Of Liechtensteinische Landesbank The definition of company insiders can be subjective, and does vary between jurisdictions. … Our information suggests that Liechtensteinische Landesbank Aktiengesellschaft insiders own under 1% of the company.

Simply Wall St -

If You Had Bought Liechtensteinische Landesbank (VTX:LLBN) Shares A Year Ago You'd Have Made 10%

To wit, the Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) share price is 10% higher than it was a year ago, much better than the market return of around 1.3% (not including dividends) in the same period. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During the last year, Liechtensteinische Landesbank actually saw its earnings per share drop 28%.

Simply Wall St -

Does Liechtensteinische Landesbank Aktiengesellschaft's (VTX:LLBN) Stock Price Account For Its Growth?

Growth expectations for Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) are high, but many investors are starting to ask whether its last close at CHF68.9 can still be rationalized by the future potential. … View our latest analysis for Liechtensteinische Landesbank? … Liechtensteinische Landesbank's extremely high growth potential in the near future is attracting investors

Simply Wall St -

Will Liechtensteinische Landesbank Aktiengesellschaft's (VTX:LLBN) Earnings Grow In The Years Ahead?

The most recent earnings release Liechtensteinische Landesbank Aktiengesellschaft's (VTX:LLBN) announced in December 2018a

Simply Wall St -

Should Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) Be Part Of Your Portfolio?

In the last few years Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) has paid a dividend to shareholders. … Does Liechtensteinische Landesbank tick all the boxes of a great dividend stock? … View our latest analysis for Liechtensteinische Landesbank

Simply Wall St -

Can Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) Survive The Next Financial Crisis?

As a small-cap bank stock with a market capitalisation of CHF2.0b, Liechtensteinische Landesbank Aktiengesellschaft’s (VTX:LLBN) risk and profitability are largely determined by the underlying economic growth of the CH regions in which it operates. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Liechtensteinische Landesbank to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place Liechtensteinische Landesbank in a safe position in the face of adverse headwinds.

Simply Wall St -

Should You Be Concerned About Liechtensteinische Landesbank Aktiengesellschaft’s (VTX:LLBN) Risks?

As a small-cap bank with a market capitalisation of CHF1.9b, Liechtensteinische Landesbank Aktiengesellschaft’s (VTX:LLBN) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Liechtensteinische Landesbank’s bottom line. … Today we will analyse Liechtensteinische Landesbank’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Can Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN) Survive The Next Financial Crisis?

As a small-cap bank stock with a market capitalisation of CHF1.68b, Liechtensteinische Landesbank Aktiengesellschaft’s (VTX:LLBN) risk and profitability are largely determined by the underlying economic growth of the CH regions in which it operates. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Liechtensteinische Landesbank to vulnerabilities. … High liquidity and low leverage could position Liechtensteinische Landesbank favourably at the face of macro headwinds.

Simply Wall St -

LLBN Company Info

Description

Liechtensteinische Landesbank Aktiengesellschaft provides banking products and services in Liechtenstein, Switzerland, Austria, Germany, Central and Eastern Europe, the Middle East, and internationally. It operates through three segments: Retail & Corporate Banking, Private Banking, and Institutional Clients. The company accepts various deposits, including savings, private, current, and custody accounts, as well as time deposits. Its loan products comprise mortgages, Lombard loans, advances, business loans, real estate financing, and guarantees and sureties. The company also offers cards; securities safe custody, investment counselling, investment advice, asset management, and asset structuring services; and financial and retirement planning, and brokering fiduciary investment services. In addition, it provides money market and interbank services; securities trading services; and payment, foreign exchange transaction, and online and mobile banking services. The company operates through 3 branches and 23 ATM locations in Liechtenstein; and 19 branches and 30 ATM locations in the Swiss cantons of Zurich, St. Gallen, Schwyz, and Glarus. Liechtensteinische Landesbank Aktiengesellschaft was founded in 1861 and is headquartered in Vaduz, Liechtenstein.

Details
Name: Liechtensteinische Landesbank Aktiengesellschaft
LLBN
Exchange: SWX
Founded: 1861
CHF1,874,252,214
30,675,159
Website: http://www.llb.li
Address: Liechtensteinische Landesbank Aktiengesellschaft
Städtle 44,
PO Box 384,
Vaduz,
9490,
Liechtenstein
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX LLBN Registered Shares SIX Swiss Exchange CH CHF 18. May 2017
BST LLS1 Registered Shares Boerse-Stuttgart DE EUR 18. May 2017
LSE 0RP8 Registered Shares London Stock Exchange GB CHF 18. May 2017
BATS-CHIXE LLBNZ Registered Shares BATS 'Chi-X Europe' GB CHF 18. May 2017
Number of employees
Current staff
Staff numbers
1,093
Liechtensteinische Landesbank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/14 22:21
End of day share price update: 2019/07/12 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.