SWX:VONN

Stock Analysis Report

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Executive Summary

Vontobel Holding AG provides various financial services to private and institutional clients. More Details


Snowflake Analysis

Proven track record with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Vontobel Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0.4%

VONN

3.5%

CH Capital Markets

-1.8%

CH Market


1 Year Return

5.0%

VONN

-4.1%

CH Capital Markets

-1.1%

CH Market

Return vs Industry: VONN exceeded the Swiss Capital Markets industry which returned -4.1% over the past year.

Return vs Market: VONN exceeded the Swiss Market which returned -1.1% over the past year.


Shareholder returns

VONNIndustryMarket
7 Day0.4%3.5%-1.8%
30 Day2.1%9.0%-1.6%
90 Day-15.0%-1.2%-0.8%
1 Year10.2%5.0%-1.2%-4.1%2.3%-1.1%
3 Year11.6%-1.1%-17.5%-25.0%15.8%3.7%
5 Year52.3%24.8%-18.8%-33.8%31.8%9.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Vontobel Holding undervalued compared to its fair value and its price relative to the market?

11.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VONN (CHF60.85) is trading below our estimate of fair value (CHF69.09)

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


Price To Earnings Ratio

PE vs Industry: VONN is good value based on its PE Ratio (13.7x) compared to the CH Capital Markets industry average (15.1x).

PE vs Market: VONN is good value based on its PE Ratio (13.7x) compared to the Swiss market (21.6x).


Price to Earnings Growth Ratio

PEG Ratio: VONN is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: VONN is overvalued based on its PB Ratio (1.9x) compared to the CH Capital Markets industry average (0.9x).


Next Steps

Future Growth

How is Vontobel Holding forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VONN's forecast earnings growth (8.7% per year) is above the savings rate (-0.2%).

Earnings vs Market: VONN's earnings (8.7% per year) are forecast to grow slower than the Swiss market (12% per year).

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

Revenue vs Market: VONN's revenue (5% per year) is forecast to grow faster than the Swiss market (4.5% per year).

High Growth Revenue: VONN's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VONN's Return on Equity is forecast to be low in 3 years time (14.4%).


Next Steps

Past Performance

How has Vontobel Holding performed over the past 5 years?

5.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VONN has high quality earnings.

Growing Profit Margin: VONN's current net profit margins (19.7%) are higher than last year (18.2%).


Past Earnings Growth Analysis

Earnings Trend: VONN's earnings have grown by 5.9% per year over the past 5 years.

Accelerating Growth: VONN's earnings growth over the past year (13.8%) exceeds its 5-year average (5.9% per year).

Earnings vs Industry: VONN earnings growth over the past year (13.8%) underperformed the Capital Markets industry 13.8%.


Return on Equity

High ROE: VONN's Return on Equity (15%) is considered low.


Next Steps

Financial Health

How is Vontobel Holding'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: VONN's Assets to Equity ratio (16.3x) is moderate.

Allowance for Bad Loans: VONN has a low allowance for bad loans (90%).

Low Risk Liabilities: 54% of VONN's liabilities are made up of primarily higher risk sources of funding.

Loan Level: VONN has an appropriate level of Loans to Assets ratio (19%).

Low Risk Deposits: VONN's Loans to Deposits ratio (44%) is appropriate.

Level of Bad Loans: VONN has an appropriate level of bad loans (0.5%).


Next Steps

Dividend

What is Vontobel Holding current dividend yield, its reliability and sustainability?

3.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VONN's dividend (3.7%) is higher than the bottom 25% of dividend payers in the Swiss market (1.94%).

High Dividend: VONN's dividend (3.7%) is low compared to the top 25% of dividend payers in the Swiss market (3.78%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (50.7%), VONN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: VONN's dividends in 3 years are forecast to be covered by earnings (52.2% payout ratio).


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Zeno Staub (51 yo)

9.42yrs

Tenure

CHF3,988,000

Compensation

Dr. Zeno Markus Staub, Ph.D., serves as the Chief Executive Officer and Member of Executive Management at Bank Vontobel AG. Dr. Staub has been the Chief Executive Officer at Vontobel Holding AG since May 4 ...


CEO Compensation Analysis

Compensation vs Market: Zeno's total compensation ($USD4.40M) is above average for companies of similar size in the Swiss market ($USD1.95M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Zeno Staub
CEO, Head Platforms & Services and Member of the Executive Board9.42yrsCHF3.99m0.26%
CHF 9.0m
Thomas Heinzl
CFO, Head of Finance & Risk and Member of Executive Board0.17yrno datano data
Felix Lenhard
COO, Head Technology & Services and Member of the Executive Board10.75yrsno data0.16%
CHF 5.4m
Axel Schwarzer
Head of Asset Managementno datano data0.29%
CHF 9.9m
Georg Franz Schubiger
Head of Wealth Management & Member of the Executive Boardno datano data0.20%
CHF 6.8m
Enrico Friz
Head Legal & Compliance0.75yrno datano data
Dan Scott
Chief Investment Officer0.42yrno datano data
Michele Schnyder
Head of Investor Relationsno datano datano data
Peter Dietlmaier
Head of Corporate Communicationsno datano datano data
Patrick Farinato
Head of Marketing & Analyticsno datano datano data
Marko Roder
Global Head of Sales9.25yrsno datano data
Caroline Knöri
Head Human Resourcesno datano datano data

5.0yrs

Average Tenure

53.5yo

Average Age

Experienced Management: VONN's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Carlo Pesenti
Member of Advisory Councilno datano datano data
Frank Schnewlin
Independent Vice Chairman of the Board8.5yrsCHF249.40k0.020%
CHF 673.5k
Herbert Scheidt
Independent Chairman of the Board9.42yrsCHF2.61m0.83%
CHF 28.3m
Vittorio Volpi
Member of Advisory Councilno datano datano data
David Cole
Independent Director4.5yrsCHF220.90k0.0055%
CHF 187.3k
Bruno Basler
Independent Director15.5yrsCHF226.60k0.030%
CHF 1.0m
Stefan Loacker
Independent Director2.5yrsCHF204.40k0.0024%
CHF 80.2k
Clara-Christina F. Streit
Independent Director9.42yrsCHF197.60k0.016%
CHF 557.5k
Nicolas H. Oltramare
Member of Advisory Councilno dataCHF51.70kno data
Elisabeth Bourqui
Non-Executive Independent Member5.5yrsCHF226.10k0.0076%
CHF 261.0k
Maja Baumann
Independent Director4.5yrsCHF216.40k0.0063%
CHF 214.6k
Björn Wettergren
Non-Independent Director4.5yrsCHF215.60k0.037%
CHF 1.3m

5.5yrs

Average Tenure

57yo

Average Age

Experienced Board: VONN's board of directors are considered experienced (5.5 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

Vontobel Holding AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vontobel Holding AG
  • Ticker: VONN
  • Exchange: SWX
  • Founded: 1924
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: CHF3.412b
  • Shares outstanding: 56.07m
  • Website: https://www.vontobel.com

Number of Employees


Location

  • Vontobel Holding AG
  • Gotthardstrasse 43
  • Zurich
  • Zurich
  • 8022
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VTLNDB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
VONNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJan 1992
0QKELSE (London Stock Exchange)YesRegistered SharesGBCHFJan 1992

Biography

Vontobel Holding AG provides various financial services to private and institutional clients. The company operates through Wealth Management, Asset Management, and Investment Banking segments. The Wealth M ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 20:40
End of Day Share Price2020/10/23 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.