SWX:CMBN

Stock Analysis Report

Executive Summary

Cembra Money Bank AG provides consumer finance products and services in Switzerland.

Snowflake

Fundamentals

Second-rate dividend payer with limited growth.


Similar Companies

Share Price & News

How has Cembra Money Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.2%

SWX:CMBN

0.1%

CH Consumer Finance

-0.3%

CH Market


1 Year Return

7.8%

SWX:CMBN

-25.6%

CH Consumer Finance

2.1%

CH Market

CMBN outperformed the Consumer Finance industry which returned -25.1% over the past year.

CMBN outperformed the Market in Switzerland which returned 3.1% over the past year.


Share holder returns

CMBNIndustryMarket
7 Day3.2%0.1%-0.3%
30 Day0.3%-5.7%-1.4%
90 Day10.5%-8.8%1.0%
1 Year12.1%7.8%-22.7%-25.6%7.4%2.1%
3 Year57.8%38.4%-33.3%-46.8%29.2%16.0%
5 Year131.0%83.1%-14.6%-39.8%31.5%11.2%

Price Volatility Vs. Market

How volatile is Cembra Money Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Cembra Money Bank undervalued based on future cash flows and its price relative to the stock market?

17.76x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Cembra Money Bank's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Cembra Money Bank's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Cembra Money Bank is overvalued based on earnings compared to the Europe Consumer Finance industry average.

Cembra Money Bank is overvalued based on earnings compared to the Switzerland market.


Price Based on Expected Growth

Cembra Money Bank is poor value based on expected growth next year.


Price Based on Value of Assets

Cembra Money Bank is overvalued based on assets compared to the Europe Consumer Finance industry average.


Next Steps

Future Growth

How is Cembra Money Bank expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

6.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Cembra Money Bank's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).

Cembra Money Bank's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).

Cembra Money Bank's revenue growth is expected to exceed the Switzerland market average.

Cembra Money Bank's earnings growth is positive but not above the Switzerland market average.

Cembra Money Bank's earnings growth is expected to exceed the low risk savings rate of 3.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Cembra Money Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Cembra Money Bank performed over the past 5 years?

3.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Cembra Money Bank's year on year earnings growth rate has been positive over the past 5 years.

Cembra Money Bank's 1-year earnings growth is less than its 5-year average (1.5% vs 3.4%)

Cembra Money Bank's earnings growth has not exceeded the Europe Consumer Finance industry average in the past year (1.5% vs 7.2%).


Return on Equity

Cembra Money Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Cembra Money Bank used its assets less efficiently than the Europe Consumer Finance industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Cembra Money Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Cembra Money Bank's financial position?


Financial Position Analysis

Cembra Money Bank's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Cembra Money Bank's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Cembra Money Bank's level of debt (170.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (233.9% vs 170.5% today).

Debt is not well covered by operating cash flow (14.5%, less than 20% of total debt).

Unable to confirm if the interest payments on Cembra Money Bank's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

What is Cembra Money Bank's current dividend yield, its reliability and sustainability?

4.55%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Cembra Money Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (2%).

Cembra Money Bank's dividend is below the markets top 25% of dividend payers in Switzerland (3.85%).

Whilst dividend payments have been stable, Cembra Money Bank has been paying a dividend for less than 10 years.

Dividend payments have increased, but Cembra Money Bank only paid a dividend in the past 5 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.3x coverage).


Next Steps

Management

What is the CEO of Cembra Money Bank's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average management tenure


CEO

Robert Oudmayer (57yo)

10.3yrs

Tenure

CHF1,711,144

Compensation

Mr. Robert Oudmayer has been the Chief Executive Officer and Member of The Management Board at Cembra Money Bank AG (formerly GE Money Bank AG) since 2009. Mr. Oudmayer served as the Chief Executive Office ...


CEO Compensation Analysis

Robert's remuneration is about average for companies of similar size in Switzerland.

Robert's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

5.8yrs

Average Tenure

52yo

Average Age

The average tenure for the Cembra Money Bank management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

5.3yrs

Average Tenure

63yo

Average Age

The tenure for the Cembra Money Bank board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Pascal Perritaz (47yo)

    CFO & Member of Management Board

    • Tenure: 0.8yrs
  • Robert Oudmayer (57yo)

    CEO & Member of Management Board

    • Tenure: 10.3yrs
    • Compensation: CHF1.71m
  • Daniel Frei (60yo)

    Head B2C & Member of the Management Board

    • Tenure: 22.6yrs
  • Emanuel Hofacker (51yo)

    General Counsel

    • Tenure: 4.9yrs
  • Volker Gloe (51yo)

    Chief Risk Officer & Member of Management Board

    • Tenure: 6.6yrs
  • Haldun Kuru

    Head of Controllership

    • Tenure: 8.4yrs
  • Niklaus Mannhart (52yo)

    COO & Member of Management Board

    • Tenure: 1.0yrs
  • Jörg Fohringer (52yo)

    Head of B2B & Member of Management Board

    • Tenure: 0.7yrs
  • Edina Jung

    Senior Legal Counsel & Corporate Secretary

    • Tenure: 0.0yrs

Board Members

  • Felix Weber (69yo)

    Chairman of the Board

    • Tenure: 6.0yrs
    • Compensation: CHF475.68k
  • Monica Mächler (63yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: CHF144.58k
  • Peter Athanas (65yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: CHF176.69k
  • Urs Baumann (52yo)

    Director

    • Tenure: 5.3yrs
    • Compensation: CHF160.64k
  • Denis Hall (64yo)

    Director

    • Tenure: 5.9yrs
    • Compensation: CHF142.52k
  • Katrina Machin (53yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: CHF137.14k
  • Ben Tellings (63yo)

    Vice-Chairman

    • Tenure: 2.3yrs
    • Compensation: CHF171.35k

Company Information

Cembra Money Bank AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cembra Money Bank AG
  • Ticker: CMBN
  • Exchange: SWX
  • Founded: 1912
  • Industry: Consumer Finance
  • Sector: Diversified Financials
  • Market Cap: CHF2.870b
  • Shares outstanding: 29.38m
  • Website: https://www.cembra.ch

Number of Employees


Location

  • Cembra Money Bank AG
  • Bändliweg 20
  • Zurich
  • Zurich
  • 8048
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CMBNSWX (SIX Swiss Exchange)YesCommon SharesCHCHFOct 2013
GEHDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2013
0QPJLSE (London Stock Exchange)YesCommon SharesGBCHFOct 2013

Biography

Cembra Money Bank AG provides consumer finance products and services in Switzerland. The company offers savings products, including medium-term notes and deposit accounts; loans comprising cash loans, cons ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 21:45
End of Day Share Price2019/08/20 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.