SWX:ZG

Stock Analysis Report

Zuger Kantonalbank

Executive Summary

Zuger Kantonalbank provides various banking products and services to private and corporate clients in Switzerland.

Snowflake

Fundamentals

Solid track record with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Zuger Kantonalbank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ZG has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.0%

ZG

0.1%

CH Banks

-0.002%

CH Market


1 Year Return

5.1%

ZG

-1.0%

CH Banks

14.6%

CH Market

Return vs Industry: ZG exceeded the Swiss Banks industry which returned -1% over the past year.

Return vs Market: ZG underperformed the Swiss Market which returned 14.6% over the past year.


Shareholder returns

ZGIndustryMarket
7 Day1.0%0.1%-0.002%
30 Day0.3%0.3%3.2%
90 Day1.0%2.1%5.4%
1 Year9.0%5.1%2.5%-1.0%20.2%14.6%
3 Year38.2%25.0%25.0%12.6%40.9%22.7%
5 Year59.8%34.3%46.7%22.7%34.4%13.2%

Price Volatility Vs. Market

How volatile is Zuger Kantonalbank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Zuger Kantonalbank undervalued compared to its fair value and its price relative to the market?

23.63x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ZG (CHF6140) is trading above our estimate of fair value (CHF1196.8)

Significantly Below Fair Value: ZG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ZG is poor value based on its PE Ratio (23.6x) compared to the Banks industry average (15.9x).

PE vs Market: ZG is poor value based on its PE Ratio (23.6x) compared to the Swiss market (19.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ZG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ZG is overvalued based on its PB Ratio (1.3x) compared to the CH Banks industry average (0.9x).


Next Steps

Future Growth

How is Zuger Kantonalbank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZG's forecast earnings growth (0.7% per year) is below the savings rate (3.3%).

Earnings vs Market: ZG's earnings (0.7% per year) are forecast to grow slower than the Swiss market (9.9% per year).

High Growth Earnings: ZG's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if ZG's revenue is forecast to grow faster than the Swiss market.

High Growth Revenue: Insufficient data to determine if ZG's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ZG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Zuger Kantonalbank performed over the past 5 years?

4.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ZG has high quality earnings.

Growing Profit Margin: ZG's current net profit margins (38.1%) are higher than last year (34.8%).


Past Earnings Growth Analysis

Earnings Trend: ZG's earnings have grown by 4.9% per year over the past 5 years.

Accelerating Growth: ZG's earnings growth over the past year (9.8%) exceeds its 5-year average (4.9% per year).

Earnings vs Industry: ZG earnings growth over the past year (9.8%) exceeded the Banks industry 2.5%.


Return on Equity

High ROE: ZG's Return on Equity (5.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: ZG has a low level of unsold assets or inventory.

Debt Coverage by Assets: ZG's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: ZG's level of assets compared to its equity is moderate.

Allowance for Bad Loans: ZG has a low allowance for bad loans.

Low Risk Liabilities: ZG's liabilities are made up of primarily low risk sources of funding.

Loan Level: ZG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ZG has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: ZG has an appropriate level of bad loans (0.71%)


Next Steps

Dividend

What is Zuger Kantonalbank's current dividend yield, its reliability and sustainability?

3.58%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.8%markettop25%3.6%industryaverage3.6%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: ZG's dividend (3.58%) is higher than the bottom 25% of dividend payers in the Swiss market (1.84%).

High Dividend: ZG's dividend (3.58%) is low compared to the top 25% of dividend payers in the Swiss market (3.6%).


Stability and Growth of Payments

Stable Dividend: ZG's dividends per share have been stable in the past 10 years.

Growing Dividend: ZG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (84.7%), ZG's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

6.0yrs

Average management tenure


CEO

Pascal Niquille (60yo)

10.4yrs

Tenure

CHF950,000

Compensation

Mr. Pascal Niquille has been the Chief Executive Officer Zuger Kantonalbank since June 8, 2009 and serves as its Head of Services & Partner Management Department. Mr. Niquille has been Chairman of the Exec ...


CEO Compensation Analysis

Compensation vs Market: Pascal's total compensation ($USD961.90K) is about average for companies of similar size in the Swiss market ($USD1.26M).

Compensation vs Earnings: Pascal's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.0yrs

Average Tenure

49yo

Average Age

Experienced Management: ZG's management team is seasoned and experienced (6 years average tenure).


Board Age and Tenure

5.5yrs

Average Tenure

54.5yo

Average Age

Experienced Board: ZG's board of directors are considered experienced (5.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Andreas Henseler

    Head of Legal Affairs & Compliance

    • Tenure: 0yrs
  • Pascal Niquille (60yo)

    President of the Executive Board & CEO

    • Tenure: 10.4yrs
    • Compensation: CHF950.00k
  • Constantino Amoros

    Head of the Human Resources

    • Tenure: 0yrs
  • Petra Kalt (49yo)

    Head of the Wealth Management Department & Member of the Executive Board

    • Tenure: 6yrs
  • Daniela Hausheer (53yo)

    Head of the Market Regions Department & Member of the Executive Board

    • Tenure: 8.1yrs
  • Claudio Deplazes

    Head of the Marketing Department

    • Tenure: 0yrs
  • Adrian Andermatt (49yo)

    Head of Corporate Clients Department & Member of Executive Board

    • Tenure: 1.7yrs
  • Andreas Janett (48yo)

    CFO & Member of Management Board

    • Tenure: 1.7yrs
  • Alex Müller

    Chief Investment Officer & Head of the Investment Center Department

    • Tenure: 0yrs
  • Peter Wicki

    Head of the Partner Management & Informatics Department

    • Tenure: 0yrs

Board Members

  • Bruno Bonati (70yo)

    President of the Council

    • Tenure: 9.5yrs
    • Compensation: CHF194.00k
  • Heinz Leibundgut (67yo)

    Director

    • Tenure: 5.5yrs
    • Compensation: CHF66.00k
  • Adrian Kalt

    Chairman of the Board of Statutory Auditors

    • Tenure: 9.8yrs
  • Patrik Wettstein (55yo)

    Director

    • Tenure: 9.5yrs
    • Compensation: CHF60.00k
  • Matthias Michel (56yo)

    Director

    • Tenure: 12.6yrs
    • Compensation: CHF51.00k
  • Sabina Balmer-Fischer (52yo)

    Director

    • Tenure: 4.5yrs
    • Compensation: CHF60.00k
  • Jacques Bossart (54yo)

    Vice-President of the Board

    • Tenure: 0.8yrs
    • Compensation: CHF46.00k
  • Patrick Storchenegger

    Representative Vice-Chairman of the Board of Statutory Auditors

    • Tenure: 0yrs
  • Silvan Schriber (47yo)

    Director

    • Tenure: 0.5yrs
  • Annette Luther (49yo)

    Director

    • Tenure: 0.8yrs

Company Information

Zuger Kantonalbank's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Zuger Kantonalbank
  • Ticker: ZG
  • Exchange: SWX
  • Founded: 1892
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: CHF1.766b
  • Shares outstanding: 287.55k
  • Website: https://www.zugerkb.ch

Number of Employees


Location

  • Zuger Kantonalbank
  • Bahnhofstrasse 1
  • Zug
  • Zug
  • 6301
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ZGSWX (SIX Swiss Exchange)YesBearer SharesCHCHFJan 1992
1Y6BST (Boerse-Stuttgart)YesBearer SharesDEEURJan 1992
0QN4LSE (London Stock Exchange)YesBearer SharesGBCHFJan 1992

Biography

Zuger Kantonalbank provides various banking products and services to private and corporate clients in Switzerland. It offers private banking products comprising bank accounts in various currencies, card pr ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/18 20:43
End of Day Share Price2019/11/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.