SWX:BAER

Stock Analysis Report

Executive Summary

Julius Bär Gruppe AG provides private banking products and services to private clients, family offices, and external asset managers primarily in Switzerland, rest of Europe, Asia, and South America.

Snowflake

Fundamentals

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Julius Bär Gruppe's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

BAER

1.1%

CH Capital Markets

-0.6%

CH Market


1 Year Return

0.05%

BAER

-8.8%

CH Capital Markets

10.7%

CH Market

Return vs Industry: BAER exceeded the Swiss Capital Markets industry which returned -8.8% over the past year.

Return vs Market: BAER underperformed the Swiss Market which returned 10.7% over the past year.


Shareholder returns

BAERIndustryMarket
7 Day-1.6%1.1%-0.6%
30 Day-1.0%-1.3%-0.4%
90 Day4.2%0.1%1.1%
1 Year3.5%0.05%-5.2%-8.8%16.6%10.7%
3 Year16.8%7.5%2.3%-9.0%35.5%21.9%
5 Year20.9%6.2%-16.7%-32.9%36.8%15.3%

Price Volatility Vs. Market

How volatile is Julius Bär Gruppe's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Julius Bär Gruppe undervalued compared to its fair value and its price relative to the market?

9.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BAER (CHF43.75) is trading below our estimate of fair value (CHF48.08)

Significantly Below Fair Value: BAER is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BAER is good value based on its PE Ratio (15x) compared to the Capital Markets industry average (15.3x).

PE vs Market: BAER is good value based on its PE Ratio (15x) compared to the Swiss market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: BAER is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: BAER is overvalued based on its PB Ratio (1.6x) compared to the CH Capital Markets industry average (1x).


Next Steps

Future Growth

How is Julius Bär Gruppe forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

13.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BAER's forecast earnings growth (13.4% per year) is above the savings rate (3.3%).

Earnings vs Market: BAER's earnings (13.4% per year) are forecast to grow faster than the Swiss market (10.4% per year).

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

Revenue vs Market: BAER's revenue (5.4% per year) is forecast to grow faster than the Swiss market (3.5% per year).

High Growth Revenue: BAER's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BAER's Return on Equity is forecast to be low in 3 years time (13.5%).


Next Steps

Past Performance

How has Julius Bär Gruppe performed over the past 5 years?

24.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BAER's earnings have grown significantly by 24.4% per year over the past 5 years.

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

Earnings vs Industry: BAER had negative earnings growth (-20.2%) over the past year, making it difficult to compare to the Capital Markets industry average (-5.2%).


Return on Equity

High ROE: BAER's Return on Equity (10.4%) is considered low.


Return on Assets

ROA vs Industry: BAER's Return on Assets is below or equal to the Capital Markets industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate BAER's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Julius Bär Gruppe'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: BAER has a low level of unsold assets or inventory.

Debt Coverage by Assets: BAER's debt is covered by short term assets (assets are 1.451300x debt).


Financial Institutions Analysis

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

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

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

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

Low Risk Deposits: BAER's loans are broadly funded by customer deposits.

Level of Bad Loans: BAER has an appropriate level of bad loans (0.36%)


Next Steps

Dividend

What is Julius Bär Gruppe's current dividend yield, its reliability and sustainability?

3.43%

Current Dividend Yield


Dividend Yield vs Market

company3.4%marketbottom25%1.9%markettop25%3.7%industryaverage4.1%forecastin3Years3.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BAER's dividend (3.43%) is higher than the bottom 25% of dividend payers in the Swiss market (1.92%).

High Dividend: BAER's dividend (3.43%) is low compared to the top 25% of dividend payers in the Swiss market (3.71%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.5%), BAER's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BAER's dividends in 3 years are forecast to be well covered by earnings (45.1% payout ratio).


Next Steps

Management

What is the CEO of Julius Bär Gruppe's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

Philipp Rickenbacher (48yo)

0.08yrs

Tenure

0

Mr. Philipp Rickenbacher serves as Chief Executive Officer and Member of the Executive Board at Julius Bär Gruppe AG since September 1, 2019 and was its Head Intermediaries & Global Custody until August 31 ...


Management Age and Tenure

2.3yrs

Average Tenure

49.5yo

Average Age

Experienced Management: BAER's management team is considered experienced (2.3 years average tenure).


Board Age and Tenure

3.6yrs

Average Tenure

61yo

Average Age

Experienced Board: BAER's board of directors are considered experienced (3.6 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


Management Team

  • Dieter Enkelmann (60yo)

    CFO & Member of Executive Board

    • Tenure: 10yrs
  • Christoph Hiestand (50yo)

    Group General Counsel & Member of Executive Board

    • Tenure: 10yrs
  • Bhaskar Laxminarayan

    Chief Investment Officer for Asia & Head of Asia IM Division

    • Tenure: 3.1yrs
  • Jimmy Lee (57yo)

    Member of the Executive Board & Head of Asia Pacific

    • Tenure: 0yrs
  • Larissa Rubner (49yo)

    Chief Communications Officer & Member of Executive Board

    • Tenure: 2.3yrs
  • Luigi Vignola (49yo)

    Head of Markets & Member of Executive Board

    • Tenure: 0.8yrs
  • Oliver Bartholet (53yo)

    Chief Risk Officer & Member of Executive Board

    • Tenure: 1.6yrs
  • Philipp Rickenbacher (48yo)

    CEO & Member of Executive Board

    • Tenure: 0.08yrs
  • Nic Dreckmann (45yo)

    COO & Member of Executive Board

    • Tenure: 2.8yrs
  • Nicolas Skowronski

    Head of Wealth Management Solutions & Member of Executive Board

    • Tenure: 0.8yrs

Board Members

  • Claire Giraut (63yo)

    Non-Executive Director

    • Tenure: 9.5yrs
    • Compensation: CHF264.00k
  • Charles Thoroton Stonehill (61yo)

    Vice Chairman of the Board

    • Tenure: 2.8yrs
    • Compensation: CHF351.00k
  • Raymond Baer (60yo)

    Honorary Chairman

    • Tenure: 7.5yrs
    • Compensation: CHF5.00k
  • Gilbert Achermann (55yo)

    Independent Director

    • Tenure: 7.5yrs
    • Compensation: CHF274.00k
  • Paul Chow (73yo)

    Independent Director

    • Tenure: 4.5yrs
    • Compensation: CHF256.00k
  • Romeo Lacher (59yo)

    Non-Executive Chairman

    • Tenure: 0.5yrs
  • Olga Zoutendijk (58yo)

    Director

    • Tenure: 0.5yrs
  • Ivo Furrer (62yo)

    Director

    • Tenure: 2.5yrs
    • Compensation: CHF321.00k
  • Heinrich Baumann (68yo)

    Independent Director

    • Tenure: 8.5yrs
    • Compensation: CHF323.00k
  • Richard Campbell-Breeden

    Director

    • Tenure: 1.5yrs
    • Compensation: CHF285.00k

Company Information

Julius Bär Gruppe AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Julius Bär Gruppe AG
  • Ticker: BAER
  • Exchange: SWX
  • Founded: 1890
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: CHF9.536b
  • Shares outstanding: 217.97m
  • Website: https://www.juliusbaer.com

Number of Employees


Location

  • Julius Bär Gruppe AG
  • Bahnhofstrasse 36
  • Zurich
  • Zurich
  • 8010
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BAERSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFOct 2009
JGEDB (Deutsche Boerse AG)YesRegistered SharesDEEUROct 2009
JBAR.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDOct 2009
0QO6LSE (London Stock Exchange)YesRegistered SharesGBCHFOct 2009
BAER NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNOct 2009
JBAX.YOTCPK (Pink Sheets LLC)UNSP ADR EACH REP 0.2 ORD SHSUSUSDNov 2009
JGE1DB (Deutsche Boerse AG)UNSP ADR EACH REP 0.2 ORD SHSDEEURNov 2009

Biography

Julius Bär Gruppe AG provides private banking products and services to private clients, family offices, and external asset managers primarily in Switzerland, rest of Europe, Asia, and South America. The co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 21:08
End of Day Share Price2019/10/22 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.