SWX:BBN

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Executive Summary

Bellevue Group AG provides asset management services for private, corporate, and institutional clients in Switzerland and internationally.


Snowflake Analysis

Flawless balance sheet with high growth potential.

Share Price & News

How has Bellevue Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

1.3%

BBN

3.4%

CH Capital Markets

2.0%

CH Market


1 Year Return

12.1%

BBN

10.1%

CH Capital Markets

6.2%

CH Market

Return vs Industry: BBN exceeded the Swiss Capital Markets industry which returned 10.1% over the past year.

Return vs Market: BBN exceeded the Swiss Market which returned 6.2% over the past year.


Shareholder returns

BBNIndustryMarket
7 Day1.3%3.4%2.0%
30 Day-2.4%1.6%0.4%
90 Day12.6%29.1%7.3%
1 Year32.5%12.1%13.3%10.1%9.8%6.2%
3 Year52.8%17.6%-16.3%-24.1%21.8%9.1%
5 Year166.2%70.3%-32.1%-45.3%32.2%11.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Bellevue Group undervalued compared to its fair value and its price relative to the market?

29.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BBN (CHF24.1) is trading below our estimate of fair value (CHF34.07)

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


Price To Earnings Ratio

PE vs Industry: BBN is poor value based on its PE Ratio (23.9x) compared to the CH Capital Markets industry average (15.3x).

PE vs Market: BBN is poor value based on its PE Ratio (23.9x) compared to the Swiss market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: BBN is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: BBN is overvalued based on its PB Ratio (2.2x) compared to the CH Capital Markets industry average (1.1x).


Next Steps

Future Growth

How is Bellevue Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

38.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BBN's forecast earnings growth (38.7% per year) is above the savings rate (-0.2%).

Earnings vs Market: BBN's earnings (38.7% per year) are forecast to grow faster than the Swiss market (9.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BBN's revenue (7.7% per year) is forecast to grow faster than the Swiss market (3.7% per year).

High Growth Revenue: BBN's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BBN's Return on Equity is forecast to be high in 3 years time (20.6%)


Next Steps

Past Performance

How has Bellevue Group performed over the past 5 years?

36.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BBN has a large one-off loss of CHF14.4M impacting its June 30 2020 financial results.

Growing Profit Margin: BBN's current net profit margins (12.6%) are lower than last year (27.9%).


Past Earnings Growth Analysis

Earnings Trend: BBN has become profitable over the past 5 years, growing earnings by 36.3% per year.

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

Earnings vs Industry: BBN had negative earnings growth (-43.6%) over the past year, making it difficult to compare to the Capital Markets industry average (13%).


Return on Equity

High ROE: BBN's Return on Equity (9.2%) is considered low.


Next Steps

Financial Health

How is Bellevue Group's financial position?


Financial Position Analysis

Short Term Liabilities: BBN's short term assets (CHF78.3M) exceed its short term liabilities (CHF29.5M).

Long Term Liabilities: BBN's short term assets (CHF78.3M) exceed its long term liabilities (CHF23.1M).


Debt to Equity History and Analysis

Debt Level: BBN is debt free.

Reducing Debt: BBN has no debt compared to 5 years ago when its debt to equity ratio was 19.9%.

Debt Coverage: BBN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BBN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Bellevue Group current dividend yield, its reliability and sustainability?

5.19%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BBN's dividend (5.19%) is higher than the bottom 25% of dividend payers in the Swiss market (1.77%).

High Dividend: BBN's dividend (5.19%) is in the top 25% of dividend payers in the Swiss market (3.74%)


Stability and Growth of Payments

Stable Dividend: BBN's dividend payments have been volatile in the past 10 years.

Growing Dividend: BBN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (124.1%), BBN's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BBN's dividends in 3 years are forecast to be well covered by earnings (41.8% payout ratio).


Next Steps

Management

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

1.4yrs

Average board tenure


CEO

André Rüegg (52 yo)

5.25yrs

Tenure

CHF1,962,550

Compensation

Mr. André Rüegg has been Group Chief Executive Officer at Bellevue Group AG since January 1, 2016 and also serves as its Member of Management Board. Mr. Rüegg has been the Chief Executive Officer at Bellev ...


CEO Compensation Analysis

Compensation vs Market: André's total compensation ($USD2.16M) is above average for companies of similar size in the Swiss market ($USD1.02M).

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


Board Members

NamePositionTenureCompensationOwnership
Urs Schenker
Independent Director1.42yrsCHF174.10kno data
Veit de Maddalena
Independent Chairman1.42yrsCHF293.00k2.14%
CHF 6.9m
Daniel Sigg
Independent Director13.58yrsCHF189.82k0.28%
CHF 913.8k
Katrin Wehr-Seiter
Independent Director1.42yrsCHF152.50kno data

1.4yrs

Average Tenure

58yo

Average Age

Experienced Board: BBN's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


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

Bellevue Group AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bellevue Group AG
  • Ticker: BBN
  • Exchange: SWX
  • Founded: 1993
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: CHF322.733m
  • Shares outstanding: 13.39m
  • Website: https://www.bellevue.ch

Number of Employees


Location

  • Bellevue Group AG
  • Seestrasse 16
  • Küsnacht
  • Zurich
  • 8700
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BBNSWX (SIX Swiss Exchange)YesBearer SharesCHCHFNov 1999
SJZNDB (Deutsche Boerse AG)YesBearer SharesDEEURNov 1999
0QLZLSE (London Stock Exchange)YesBearer SharesGBCHFNov 1999

Biography

Bellevue Group AG provides asset management services for private, corporate, and institutional clients in Switzerland and internationally. The company offers various services in the areas of specialized he ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 11:10
End of Day Share Price2020/08/13 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.