BRSE:APN

Stock Analysis Report

Executive Summary

AP Alternative Portfolio AG, through its subsidiary, Alternative Portfolio Limited, engages in acquiring, managing, disposing of, and reinvesting in private equity, hedge funds, and other alternative investments.


Snowflake Analysis

Fair value unattractive dividend payer.

Share Price & News

How has AP Alternative Portfolio's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

4.2%

APN

-1.8%

CH Capital Markets

-0.2%

CH Market


1 Year Return

-17.0%

APN

9.2%

CH Capital Markets

16.2%

CH Market

Return vs Industry: APN underperformed the Swiss Capital Markets industry which returned 9.2% over the past year.

Return vs Market: APN underperformed the Swiss Market which returned 16.2% over the past year.


Shareholder returns

APNIndustryMarket
7 Day4.2%-1.8%-0.2%
30 Day6.4%2.4%2.1%
90 Day4.2%4.5%7.0%
1 Year0.4%-17.0%13.5%9.2%21.8%16.2%
3 Year27.4%-30.3%1.2%-10.0%40.6%23.4%
5 Year85.7%-31.7%-7.5%-25.3%44.9%21.9%

Price Volatility Vs. Market

How volatile is AP Alternative Portfolio's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AP Alternative Portfolio undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APN (CHF175.6) is trading below our estimate of fair value (CHF371.07)

Significantly Below Fair Value: APN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: APN is poor value based on its PE Ratio (25x) compared to the Capital Markets industry average (22.2x).

PE vs Market: APN is poor value based on its PE Ratio (25x) compared to the Swiss market (21.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: APN is good value based on its PB Ratio (0.8x) compared to the CH Capital Markets industry average (1.1x).


Next Steps

Future Growth

How is AP Alternative Portfolio forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.0%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as AP Alternative Portfolio has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has AP Alternative Portfolio performed over the past 5 years?

-21.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: APN has high quality earnings.

Growing Profit Margin: APN's current net profit margins (57.8%) are lower than last year (76%).


Past Earnings Growth Analysis

Earnings Trend: APN's earnings have declined by -21.4% per year over the past 5 years.

Accelerating Growth: APN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: APN had negative earnings growth (-68.9%) over the past year, making it difficult to compare to the Capital Markets industry average (-3.4%).


Return on Equity

High ROE: APN's Return on Equity (3.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AP Alternative Portfolio'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: APN has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if APN's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: APN's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if APN has a sufficient allowance for bad loans.

Low Risk Liabilities: APN reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if APN has an acceptable proportion of non-loan assets held.

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

Level of Bad Loans: Insufficient data to determine if APN has an appropriate level of bad loans.


Next Steps

Dividend

What is AP Alternative Portfolio's current dividend yield, its reliability and sustainability?

19.82%

Current Dividend Yield


Dividend Yield vs Market

company19.8%marketbottom25%1.7%markettop25%3.4%industryaverage3.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: APN's dividend (19.82%) is higher than the bottom 25% of dividend payers in the Swiss market (1.74%).

High Dividend: APN's dividend (19.82%) is in the top 25% of dividend payers in the Swiss market (3.38%)


Stability and Growth of Payments

Stable Dividend: APN has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: APN has only been paying a dividend for 5 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (494.8%), APN's dividend payments are not well 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

How experienced are the management team and are they aligned to shareholders interests?


CEO

AP Alternative Portfolio has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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.


Top Shareholders

Company Information

AP Alternative Portfolio AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AP Alternative Portfolio AG
  • Ticker: APN
  • Exchange: BRSE
  • Founded: 2000
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: CHF72.891m
  • Shares outstanding: 415.09k
  • Website: https://www.alternative-portfolio.com

Location

  • AP Alternative Portfolio AG
  • PO Box
  • Zurich
  • Zurich
  • 8098
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
APNBRSE (Berne Stock Exchange)YesRegistered SharesCHCHFSep 2014

Biography

AP Alternative Portfolio AG, through its subsidiary, Alternative Portfolio Limited, engages in acquiring, managing, disposing of, and reinvesting in private equity, hedge funds, and other alternative investments. The company was formerly known as UBS Alternative Portfolio AG and changed its name to AP Alternative Portfolio AG in August 2014. AP Alternative Portfolio AG was founded in 2000 and is based in Zurich, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/22 21:03
End of Day Share Price2020/02/21 00:00
Earnings2019/03/31
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.