SWX:CMBN

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Excellent balance sheet with moderate growth potential.


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

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


Market Performance


7 Day Return

1.3%

CMBN

0.6%

CH Consumer Finance

-1.9%

CH Market


1 Year Return

4.5%

CMBN

-30.9%

CH Consumer Finance

1.0%

CH Market

Return vs Industry: CMBN exceeded the Swiss Consumer Finance industry which returned -30.9% over the past year.

Return vs Market: CMBN exceeded the Swiss Market which returned 1% over the past year.


Shareholder returns

CMBNIndustryMarket
7 Day1.3%0.6%-1.9%
30 Day7.6%6.4%-1.0%
90 Day12.6%10.7%6.0%
1 Year8.9%4.5%-29.5%-30.9%4.5%1.0%
3 Year28.1%13.6%-47.4%-55.6%16.0%3.9%
5 Year114.4%71.7%-47.1%-60.9%24.9%5.2%

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 compared to its fair value and its price relative to the market?

18.93x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CMBN (CHF99.7) is trading above our estimate of fair value (CHF83.37)

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


Price To Earnings Ratio

PE vs Industry: CMBN is poor value based on its PE Ratio (18.9x) compared to the XE Consumer Finance industry average (6.7x).

PE vs Market: CMBN is good value based on its PE Ratio (18.9x) compared to the Swiss market (20.4x).


Price to Earnings Growth Ratio

PEG Ratio: CMBN is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: CMBN is overvalued based on its PB Ratio (2.8x) compared to the XE Consumer Finance industry average (1x).


Next Steps

Future Growth

How is Cembra Money Bank forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CMBN's forecast earnings growth (11% per year) is above the savings rate (-0.2%).

Earnings vs Market: CMBN's earnings (11% per year) are forecast to grow faster than the Swiss market (9% per year).

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

Revenue vs Market: CMBN's revenue (5.5% per year) is forecast to grow faster than the Swiss market (3.7% per year).

High Growth Revenue: CMBN's revenue (5.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CMBN's Return on Equity is forecast to be low in 3 years time (15.3%).


Next Steps

Past Performance

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

2.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CMBN has a high level of non-cash earnings.

Growing Profit Margin: CMBN's current net profit margins (34.4%) are lower than last year (38.4%).


Past Earnings Growth Analysis

Earnings Trend: CMBN's earnings have grown by 2.1% per year over the past 5 years.

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

Earnings vs Industry: CMBN had negative earnings growth (-0.2%) over the past year, making it difficult to compare to the Consumer Finance industry average (3.1%).


Return on Equity

High ROE: CMBN's Return on Equity (14.7%) is considered low.


Next Steps

Financial Health

How is Cembra Money Bank'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


Financial Institutions Analysis

Asset Level: CMBN's Assets to Equity ratio (6.9x) is low.

Allowance for Bad Loans: CMBN has a sufficient allowance for bad loans (197%).

Low Risk Liabilities: 55% of CMBN's liabilities are made up of primarily low risk sources of funding.

Loan Level: CMBN has an appropriate level of Loans to Assets ratio (88%).

Low Risk Deposits: CMBN's Loans to Deposits ratio (187%) is high.

Level of Bad Loans: CMBN has an appropriate level of bad loans (0.6%).


Next Steps

Dividend

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

3.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CMBN's dividend (3.76%) is higher than the bottom 25% of dividend payers in the Swiss market (1.82%).

High Dividend: CMBN's dividend (3.76%) is low compared to the top 25% of dividend payers in the Swiss market (3.89%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CMBN has been paying a dividend for less than 10 years.

Growing Dividend: CMBN's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.2%), CMBN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CMBN's dividends in 3 years are forecast to be covered by earnings (65.6% payout ratio).


Next Steps

Management

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

5.9yrs

Average management tenure


CEO

Robert Oudmayer (58 yo)

11.25yrs

Tenure

CHF1,776,444

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

Compensation vs Market: Robert's total compensation ($USD1.95M) is about average for companies of similar size in the Swiss market ($USD1.94M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Robert Oudmayer
CEO & Member of Management Board11.25yrsCHF1.78m0.037%
CHF 1.1m
Pascal Perritaz
CFO & Member of Management Board1.83yrsno datano data
Daniel Frei
MD of B2C & Member of the Management Board23.58yrsno data0.015%
CHF 433.1k
Emanuel Hofacker
General Counsel5.92yrsno data0.0074%
CHF 215.5k
Volker Gloe
Chief Risk Officer & Member of Management Board7.58yrsno data0.014%
CHF 410.0k
Niklaus Mannhart
COO & Member of Management Board2yrsno datano data
Jörg Fohringer
MD of B2B & Member of Management Board1.67yrsno datano data
Edina Jung
Senior Legal Counsel & Corporate Secretaryno datano datano data

5.9yrs

Average Tenure

53yo

Average Age

Experienced Management: CMBN's management team is seasoned and experienced (5.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Felix Weber
Independent Chairman of the Board7yrsCHF475.66k0.025%
CHF 722.7k
Thomas Buess
Director0.33yrno datano data
Monica Mächler
Independent Director5.33yrsCHF144.57kno data
Peter Athanas
Independent Vice Chairman of the Board0.58yrCHF175.17kno data
Urs Baumann
Independent Director6.25yrsCHF160.63k0.025%
CHF 717.7k
Denis Hall
Independent Director6.92yrsCHF142.42kno data
Katrina Machin
Independent Director4.33yrsCHF137.03kno data

5.3yrs

Average Tenure

64yo

Average Age

Experienced Board: CMBN's board of directors are considered experienced (5.3 years average tenure).


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

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: CHF2.928b
  • Shares outstanding: 29.37m
  • 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 Analysis2020/08/02 20:56
End of Day Share Price2020/07/31 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.