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Credit Suisse Group

SWX:CSGN
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CSGN
SWX
CHF30B
Market Cap
  1. Home
  2. CH
  3. Diversified Financials
Company description

Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. The last earnings update was 77 days ago. More info.


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CSGN Share Price and Events
7 Day Returns
0%
SWX:CSGN
1%
CH Capital Markets
0.1%
CH Market
1 Year Returns
-20.2%
SWX:CSGN
-21%
CH Capital Markets
4.7%
CH Market
CSGN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Credit Suisse Group (CSGN) 0% 2.8% -11.3% -20.2% 6.7% -53%
CH Capital Markets 1% 4.3% -10% -21% 0.7% -33.6%
CH Market 0.1% 0.1% 2.9% 4.7% 15.1% 13.3%
1 Year Return vs Industry and Market
  • CSGN matched the Capital Markets industry (-21%) over the past year.
  • CSGN underperformed the Market in Switzerland which returned 4.7% over the past year.
Price Volatility
CSGN
Industry
5yr Volatility vs Market

CSGN Value

 Is Credit Suisse Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Credit Suisse Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Credit Suisse Group.

SWX:CSGN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= CHF19.61 * 8.3%
CHF1.62
Book Value of Equity per Share Weighted future Book Value estimates from 11 analysts. CHF19.61
Discount Rate (Cost of Equity) See below 15.2%
Perpetual Growth Rate 10-Year CH Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:CSGN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.655 (1 + (1- 18%) (739.85%))
3.433
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.28% + (2 * 5.96%)
15.2%

Discounted Cash Flow Calculation for SWX:CSGN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Credit Suisse Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SWX:CSGN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.3% – 15.2%) * CHF19.61)
CHF-1.36
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-1.36 / (15.2% - 3.28%)
CHF-11.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF19.61 + CHF-11.42
CHF8.19
SWX:CSGN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF8.19
Current discount Discount to share price of CHF12.14
= -1 x (CHF12.14 - CHF8.19) / CHF8.19
-48.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Credit Suisse Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Credit Suisse Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Credit Suisse Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:CSGN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CHF CHF0.81
SWX:CSGN Share Price ** SWX (2019-07-19) in CHF CHF12.14
Switzerland Capital Markets Industry PE Ratio Median Figure of 13 Publicly-Listed Capital Markets Companies 14.68x
Switzerland Market PE Ratio Median Figure of 174 Publicly-Listed Companies 18.09x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Credit Suisse Group.

SWX:CSGN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:CSGN Share Price ÷ EPS (both in CHF)

= 12.14 ÷ 0.81

15.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Suisse Group is overvalued based on earnings compared to the CH Capital Markets industry average.
  • Credit Suisse Group is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Credit Suisse Group's expected growth come at a high price?
Raw Data
SWX:CSGN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
15.1%per year
Switzerland Capital Markets Industry PEG Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 1.43x
Switzerland Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 2.28x

*Line of best fit is calculated by linear regression .

SWX:CSGN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.01x ÷ 15.1%

1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Suisse Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Credit Suisse Group's assets?
Raw Data
SWX:CSGN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CHF CHF17.48
SWX:CSGN Share Price * SWX (2019-07-19) in CHF CHF12.14
Switzerland Capital Markets Industry PB Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 1x
Switzerland Market PB Ratio Median Figure of 215 Publicly-Listed Companies 1.64x
SWX:CSGN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:CSGN Share Price ÷ Book Value per Share (both in CHF)

= 12.14 ÷ 17.48

0.69x

* Primary Listing of Credit Suisse Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Credit Suisse Group is good value based on assets compared to the CH Capital Markets industry average.
X
Value checks
We assess Credit Suisse Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Credit Suisse Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CSGN Future Performance

 How is Credit Suisse Group expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
15.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Credit Suisse Group expected to grow at an attractive rate?
  • Credit Suisse Group's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Credit Suisse Group's earnings growth is expected to exceed the Switzerland market average.
  • Credit Suisse Group's revenue growth is positive but not above the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:CSGN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:CSGN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 15.1%
SWX:CSGN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 3.3%
Switzerland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
Switzerland Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:CSGN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:CSGN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 22,708 4,062 13
2020-12-31 22,116 3,766 14
2019-12-31 21,338 3,203 14
SWX:CSGN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-03-31 20,393 2,812 2,079
2018-12-31 20,675 12,760 2,024
2018-09-30 21,079 9,209 -361
2018-06-30 21,196 5,527 -541
2018-03-31 20,797 800 -885
2017-12-31 20,690 -8,542 -983
2017-09-30 20,650 28,555 -1,476
2017-06-30 21,051 14,709 -1,679
2017-03-31 21,064 15,720 -1,815
2016-12-31 20,071 26,775 -2,710
2016-09-30 19,042 11,003 -5,882
2016-06-30 19,576 22,123 -5,153

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Credit Suisse Group's earnings are expected to grow by 15.1% yearly, however this is not considered high growth (20% yearly).
  • Credit Suisse Group's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:CSGN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Credit Suisse Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:CSGN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.75 2.06 1.43 9.00
2020-12-31 1.56 1.70 1.37 10.00
2019-12-31 1.27 1.41 1.16 11.00
SWX:CSGN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-03-31 0.81
2018-12-31 0.79
2018-09-30 -0.14
2018-06-30 -0.21
2018-03-31 -0.35
2017-12-31 -0.41
2017-09-30 -0.64
2017-06-30 -0.76
2017-03-31 -0.83
2016-12-31 -1.27
2016-09-30 -2.89
2016-06-30 -2.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Credit Suisse Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Credit Suisse Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Credit Suisse Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CSGN Past Performance

  How has Credit Suisse Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Credit Suisse Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Credit Suisse Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Credit Suisse Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Credit Suisse Group has become profitable in the last year making it difficult to compare the CH Capital Markets industry average.
Earnings and Revenue History
Credit Suisse Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Credit Suisse Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:CSGN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 20,393.00 2,079.00 15,207.00
2018-12-31 20,675.00 2,024.00 15,251.00
2018-09-30 21,079.00 -361.00 15,959.00
2018-06-30 21,196.00 -541.00 16,259.00
2018-03-31 20,797.00 -885.00 16,433.00
2017-12-31 20,690.00 -983.00 16,681.00
2017-09-30 20,650.00 -1,476.00 16,637.00
2017-06-30 21,051.00 -1,679.00 17,072.00
2017-03-31 21,064.00 -1,815.00 17,410.00
2016-12-31 20,071.00 -2,710.00 17,521.00
2016-09-30 19,042.00 -5,882.00 18,405.00
2016-06-30 19,576.00 -5,153.00 18,445.00
2016-03-31 21,344.00 -4,291.00 18,757.00
2015-12-31 23,473.00 -2,958.00 19,141.00
2015-09-30 25,693.00 3,479.00 16,512.00
2015-06-30 26,337.00 3,588.00 16,585.00
2015-03-31 25,878.00 1,856.00 17,946.00
2014-12-31 26,056.00 1,641.00 18,189.00
2014-09-30 25,845.00 494.00 19,766.00
2014-06-30 24,961.00 -114.00 19,374.00
2014-03-31 25,417.00 1,479.00 17,730.00
2013-12-31 25,689.00 1,728.00 17,632.00
2013-09-30 25,182.00 2,407.00 17,716.00
2013-06-30 25,282.00 2,345.00 18,249.00
2013-03-31 24,505.00 2,100.00 18,022.00
2012-12-31 23,441.00 1,084.00 19,050.00
2012-09-30 22,253.00 190.00 18,175.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Credit Suisse Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Credit Suisse Group used its assets less efficiently than the CH Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Credit Suisse Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Credit Suisse Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Credit Suisse Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CSGN Health

 How is Credit Suisse Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Credit Suisse Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Credit Suisse Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Credit Suisse Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Credit Suisse Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Credit Suisse Group Company Filings, last reported 3 months ago.

SWX:CSGN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 43,931.00 221,776.00 347,384.00
2018-12-31 44,019.00 216,088.00 284,014.00
2018-09-30 42,934.00 214,746.00 328,206.00
2018-06-30 43,609.00 231,604.00 350,275.00
2018-03-31 42,697.00 240,568.00 364,198.00
2017-12-31 42,189.00 240,170.00 307,922.00
2017-09-30 44,081.00 244,305.00 375,127.00
2017-06-30 43,836.00 241,268.00 368,013.00
2017-03-31 42,079.00 256,388.00 380,744.00
2016-12-31 42,311.00 262,083.00 339,153.00
2016-09-30 44,757.00 262,583.00 388,346.00
2016-06-30 45,329.00 271,254.00 395,124.00
2016-03-31 45,447.00 263,263.00 401,133.00
2015-12-31 45,018.00 276,459.00 335,986.00
2015-09-30 45,500.00 282,422.00 411,335.00
2015-06-30 43,460.00 294,413.00 431,474.00
2015-03-31 44,285.00 306,400.00 450,642.00
2014-12-31 45,001.00 311,278.00 394,944.00
2014-09-30 44,951.00 323,747.00 488,576.00
2014-06-30 42,027.00 296,033.00 454,789.00
2014-03-31 44,282.00 278,184.00 443,553.00
2013-12-31 47,166.00 281,125.00 381,349.00
2013-09-30 49,011.00 288,444.00 479,927.00
2013-06-30 49,407.00 295,020.00 479,772.00
2013-03-31 44,946.00 335,006.00 487,404.00
2012-12-31 42,284.00 340,191.00 428,498.00
2012-09-30 42,833.00 399,706.00 585,447.00
  • Credit Suisse Group's level of debt (504.8%) 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 (629% vs 504.8% today).
  • Debt is not well covered by operating cash flow (1.3%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Credit Suisse Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Credit Suisse Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Credit Suisse Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CSGN Dividends

 What is Credit Suisse Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.16%
Current annual income from Credit Suisse Group dividends. Estimated to be 2.45% next year.
If you bought CHF2,000 of Credit Suisse Group shares you are expected to receive CHF43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Credit Suisse Group's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.98%).
  • Credit Suisse Group's dividend is below the markets top 25% of dividend payers in Switzerland (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:CSGN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Switzerland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.2%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 167 Stocks 3%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2%
Switzerland Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:CSGN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.32 16.00
2020-12-31 0.30 16.00
2019-12-31 0.28 17.00
SWX:CSGN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.263 2.190
2018-03-23 0.250 1.843
2017-04-03 0.700 4.519
2016-04-29 0.700 5.242
2015-04-24 0.700 3.414
2014-04-03 0.700 2.793
2014-02-06 0.700 2.515
2013-03-22 0.100 0.366
2013-02-07 0.100 0.385
2012-08-03 0.750 3.501
2012-07-24 0.750 4.562
2012-04-25 0.750 4.057
2012-03-23 0.750 3.040
2012-02-09 0.750 3.011
2011-05-02 1.300 5.153
2010-04-30 2.000 4.706
2009-04-27 0.100 0.194

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Credit Suisse Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.2x coverage).
X
Income/ dividend checks
We assess Credit Suisse Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Credit Suisse Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Credit Suisse Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CSGN Management

 What is the CEO of Credit Suisse Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tidjiane Thiam
COMPENSATION CHF12,650,000
AGE 57
TENURE AS CEO 4 years
CEO Bio

Mr. Cheick Tidjane Thiam has been a Director of Credit Suisse (Schweiz) AG since 2016 and served as its Chief Executive Officer from 2015 to 2017. Mr. Thiam served as Group Chief Executive Officer of Prudential Plc from October 1, 2009 to May 31, 2015 and Chief Financial Officer from March 25, 2008 to October 1, 2009. He has been Chief Executive Officer and Member of Executive Board of Credit Suisse Group AG since July 1, 2015 and Chief Executive Officer of Credit Suisse AG since 2015. Mr. Thiam served as Group Finance Director of Prudential plc since September 21, 2007 and also served as its Head of European Operations. He previously served in a variety of leadership roles at Aviva from 2002 to 2008. He served as Chief Executive Officer of Europe at Aviva from 2006 to 2008, where he also held successively the positions of Group Strategy & Development Director from 2002 to 2004, Group Executive Director and also served as its Managing Director of Aviva International from 2004 to 2006. Mr. Thiam joined Aviva in 2002 from McKinsey & Company, where he was a Partner. He worked the first part of his professional career with McKinsey & Company in Paris, London and New York, from 1986 to 1994, serving insurance companies and banks and again, as one of the leaders of their Financial Institutions practice from 2000 to 2002. Mr. Thiam spent a number of years in Africa from 1994 to 2000 where he served as Chief Executive and then Chairman of the National Bureau for Technical Studies and Development in Cote d'Ivoire from 1994 to 1998 and a cabinet member as Secretary of Planning and Development. He was Minister of planning and development at Côte d’Ivoire from 1998 to 1999. He has extensive experience in finance and investments and a deep knowledge in International and Emerging Markets. He has extensive business and operational experience. Mr. Thiam served as Chairman of Association of British Insurers from July 2012 to October 2014. He served as an Independent Director at Twenty-First Century Fox, Inc. since November 12, 2014 until March 20, 2019. From 2009 to 2015, he was a Director of Association of British Insurers. He served as an Executive Director of Prudential Plc from March 25, 2008 to May 31, 2015. He served as a Director of Aviva since 2007. He served as a Director of Arkema S.A. from September 12, 2006 to November 9, 2009. He served as Panel Member of The Takeover Panel (U.K.). He serves as a Member of the Council of the Overseas Development Institute (ODI) in London, a sponsor of Opportunity International and a Member of the Africa Progress Panel chaired by Kofi Annan. He also serves as a Trustee of the Credit Suisse Foundation. In January 2014, he was appointed as a British Business Ambassador by invitation from the Prime Minister. Prior to 1994, he was Consultant of McKinsey & Co, Paris, London and New York. In January 2012, he was appointed to the Prime Minister’s Business Advisory Group and has been a member of the European Financial Services Round Table since 2013. He is a Member of the UK-ASEAN Business Council and of the Strategic Advisory Group on UK Trade and Investment. He was awarded the Légion d’Honneur by the French President in July 2011 and the 2013 Grand Prix de l’Economie by the French newspaper Les Echos. He holds a Master of Business Administration (MBA) from INSEAD in 1988. He is board member of 21st Century Fox. He is member of Group of Thirty (G30) and International Business Council of the World Economic Forum. He is a graduate of Advanced Mathematics and Physics from Ecole Nationale Supérieure des Mines de Paris in 1986 and also a graduate from Ecole Polytechnique in Paris in 1984.

CEO Compensation
  • Tidjiane's compensation has increased in line with Credit Suisse Group recently becoming profitable.
  • Tidjiane's remuneration is higher than average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Credit Suisse Group management team in years:

3.8
Average Tenure
54.5
Average Age
  • The tenure for the Credit Suisse Group management team is about average.
Management Team

Tidjiane Thiam

TITLE
CEO & Member of the Executive Board
COMPENSATION
CHF13M
AGE
57
TENURE
4 yrs

David Mathers

TITLE
CFO & Member of the Executive Board
AGE
54
TENURE
8.8 yrs

Jim Amine

TITLE
CEO of Investment Banking & Capital Markets & Member of Executive Board
AGE
60
TENURE
4.8 yrs

Lara Warner

TITLE
Group Chief Risk Officer & Member of the Executive Board
AGE
52
TENURE
3.8 yrs

Romeo Cerutti

TITLE
General Counsel & Member of the Executive Board
AGE
57
TENURE
10.3 yrs

Helman Sitohang

TITLE
CEO of the Asia-Pacific Division & Member of the Executive Board
AGE
54
TENURE
3.8 yrs

Pierre-Olivier Marie Bouée

TITLE
COO & Member of Executive Board
AGE
48
TENURE
3.8 yrs

Thomas Gottstein

TITLE
Member of the Executive Board
AGE
55
TENURE
3.8 yrs

Brian Chin

TITLE
CEO of Global Markets & Member of Executive Board
AGE
42
TENURE
2.8 yrs

Antoinette Poschung

TITLE
Global Head of Human Resources & Member of Executive Board
AGE
63
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure and age of the Credit Suisse Group board of directors in years:

5.3
Average Tenure
58
Average Age
  • The tenure for the Credit Suisse Group board of directors is about average.
Board of Directors

Urs Rohner

TITLE
Chairman of the Board
COMPENSATION
CHF5M
AGE
60
TENURE
8.3 yrs

Severin Schwan

TITLE
Vice Chair & Lead Independent Director
COMPENSATION
CHF400K
AGE
52
TENURE
2.5 yrs

Rainer Gut

TITLE
Honorary Chairman
AGE
87
TENURE
19.5 yrs

Kai Nargolwala

TITLE
Independent Director
COMPENSATION
CHF600K
AGE
69
TENURE
6.3 yrs

John Tiner

TITLE
Director
COMPENSATION
CHF880K
AGE
62
TENURE
10.3 yrs

Andreas Gottschling

TITLE
Director
COMPENSATION
CHF850K
AGE
52
TENURE
2.3 yrs

Iris Bohnet

TITLE
Director
COMPENSATION
CHF350K
AGE
53
TENURE
7.3 yrs

Maag Macia

TITLE
Director
COMPENSATION
CHF350K
AGE
51
TENURE
4.3 yrs

Alexander Gut

TITLE
Director
COMPENSATION
CHF400K
AGE
56
TENURE
3.3 yrs

Joaquin Ribeiro

TITLE
Director
COMPENSATION
CHF400K
AGE
63
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Credit Suisse Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Credit Suisse Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CSGN News

Simply Wall St News

Does Credit Suisse Group AG (VTX:CSGN) Have A Place In Your Dividend Portfolio?

Dividend paying stocks like Credit Suisse Group AG (VTX:CSGN) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … Credit Suisse Group has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Credit Suisse Group might not be a bad business, but it doesn't show all of the characteristics we look for in a dividend stock.

Simply Wall St -

Some Credit Suisse Group (VTX:CSGN) Shareholders Have Copped A Big 55% Share Price Drop

We note that for Credit Suisse Group the TSR over the last 5 years was -44%, which is better than the share price return mentioned above. … A Different Perspective While the broader market gained around 14% in the last year, Credit Suisse Group shareholders lost 21% (even including dividends). … We will like Credit Suisse Group better if we see some big insider buys.

Simply Wall St -

At CHF11.66, Is Credit Suisse Group AG (VTX:CSGN) Worth Looking At Closely?

Credit Suisse Group AG (VTX:CSGN) saw significant share price movement during recent months on the SWX, rising to highs of CHF13.81 and falling to the lows of CHF11.28. … This means that the opportunity to buy Credit Suisse Group at a good price has disappeared! … Given that Credit Suisse Group’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future.

Simply Wall St -

What Type Of Shareholder Owns Credit Suisse Group AG's (VTX:CSGN)?

The big shareholder groups in Credit Suisse Group AG (VTX:CSGN) have power over the company. … See our latest analysis for Credit Suisse Group SWX:CSGN Ownership Summary, May 10th 2019 What Does The Institutional Ownership Tell Us About Credit Suisse Group? … Insider Ownership Of Credit Suisse Group While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

Credit Suisse Group AG (VTX:CSGN): What We Can Expect From This Growth Stock

On 31 December 2018, Credit Suisse Group AG (VTX:CSGN) released its earnings update. … analyst consensus outlook appear vastly optimistic, … as a 61% rise in profits is expected in the upcoming year,

Simply Wall St -

What Type Of Shareholder Owns Credit Suisse Group AG's (VTX:CSGN)?

The big shareholder groups in Credit Suisse Group AG (VTX:CSGN) have power over the company. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Credit Suisse Group has a market capitalization of CHF30b, so it's too big to fly under the radar.

Simply Wall St -

Such Is Life: How Credit Suisse Group (VTX:CSGN) Shareholders Saw Their Shares Drop 56%

At this point some shareholders may be questioning their investment in Credit Suisse Group AG (VTX:CSGN), since the last five years saw the share price fall 56%. … During five years of share price growth, Credit Suisse Group moved from a loss to profitability. … It could be that the revenue decline of 5.9% per year is viewed as evidence that Credit Suisse Group is shrinking.

Simply Wall St -

Will Credit Suisse Group AG's (VTX:CSGN) Earnings Grow Over The Next Few Years?

The most recent earnings release Credit Suisse Group AG's (VTX:CSGN) announced in December 2018

Simply Wall St -

How Should Investors React To Credit Suisse Group AG's (VTX:CSGN) CEO Pay?

In 2015 Tidjiane Thiam was appointed CEO of Credit Suisse Group AG (VTX:CSGN). … View our latest analysis for Credit Suisse Group … How Does Tidjiane Thiam's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Credit Suisse Group AG (VTX:CSGN) An Attractive Dividend Stock?

Historically, Credit Suisse Group AG (VTX:CSGN) has been paying a dividend to shareholders. … Does Credit Suisse Group tick all the boxes of a great dividend stock? … See our latest analysis for Credit Suisse Group?

Simply Wall St -

CSGN Company Info

Description

Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions. It also provides traditional and structured lending, payment, foreign exchange, capital goods leasing, merger and acquisition, syndication, structured finance, commodity trade finance, trade finance, structured trade finance, export finance, factoring, fund management and administration, fund design, custody, ship and aviation, securities, cash, and treasury services. In addition, the company offers asset management products; equity and debt underwriting, and advisory services; cash equities, equity derivatives, and convertibles, as well as other services; and fixed income products, such as credit, securitized, macro, emerging markets, financing, structured credit, and other products. Further, it provides HOLT, a framework for assessing the performance of approximately 20,000 companies; and equity and fixed income research services. As of December 31, 2018, the company had 355 offices and branches. It serves private, corporate, and institutional clients; ultra-high-net-worth individuals, high-net-worth individuals, and affluent and retail clients; corporate clients, small and medium-sized enterprises, external asset managers, financial institutions, and commodity traders; and pension funds, governments, foundations and endowments, corporations, entrepreneurs, private individuals, financial sponsors, and sovereign clients. Credit Suisse Group AG was founded in 1856 and is based in Zurich, Switzerland.

Details
Name: Credit Suisse Group AG
CSGN
Exchange: SWX
Founded: 1856
CHF30,444,623,554
2,507,794,362
Website: http://www.credit-suisse.com
Address: Credit Suisse Group AG
Paradeplatz 8,
Zurich,
Zurich, 8001,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX CSGN Common Shares SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK CSGK.F Common Shares Pink Sheets LLC US USD 02. Jan 1992
DB CSX Common Shares Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA CSX Common Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0QP5 Common Shares London Stock Exchange GB CHF 02. Jan 1992
NYSE CS SPON ADR-REP 1 ORD CHF0.40(REGD) New York Stock Exchange US USD 14. May 1993
DB CSX1 SPON ADR-REP 1 ORD CHF0.40(REGD) Deutsche Boerse AG DE EUR 14. May 1993
XTRA CSX1 SPON ADR-REP 1 ORD CHF0.40(REGD) XETRA Trading Platform DE EUR 14. May 1993
LSE 0I4P SPON ADR-REP 1 ORD CHF0.40(REGD) London Stock Exchange GB USD 14. May 1993
SWX CSGNE CHF0.04 SIX Swiss Exchange CH CHF 11. Jan 2019
BMV CS N SPON ADR-REP 1 ORD CHF0.40(REGD) Bolsa Mexicana de Valores MX MXN 14. May 1993
Number of employees
Current staff
Staff numbers
46,200
Credit Suisse Group employees.
Industry
Diversified Capital Markets
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 20:53
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.