Vontobel Holding AG

SWX:VONN Stock Report

Market Cap: CHF 3.5b

Vontobel Holding Valuation

Is VONN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VONN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VONN (CHF62.7) is trading below our estimate of fair value (CHF97.84)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VONN?

Key metric: As VONN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VONN. This is calculated by dividing VONN's market cap by their current earnings.
What is VONN's PE Ratio?
PE Ratio16.2x
EarningsCHF 217.40m
Market CapCHF 3.53b

Price to Earnings Ratio vs Peers

How does VONN's PE Ratio compare to its peers?

The above table shows the PE ratio for VONN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.1x
EFGN EFG International
12.9x6.4%CHF 3.9b
VZN VZ Holding
27.7x6.3%CHF 5.6b
BAER Julius Bär Gruppe
31.9x22.4%CHF 11.9b
VPBN VP Bank
15.9x20.2%CHF 479.9m
VONN Vontobel Holding
16.2x17.7%CHF 3.5b

Price-To-Earnings vs Peers: VONN is good value based on its Price-To-Earnings Ratio (16.2x) compared to the peer average (22.1x).

Price to Earnings Ratio vs Industry

How does VONN's PE Ratio compare vs other companies in the European Capital Markets Industry?

16 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VONN 16.2xIndustry Avg. 13.2xNo. of Companies39PE01224364860+
16 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VONN is expensive based on its Price-To-Earnings Ratio (16.2x) compared to the European Capital Markets industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is VONN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VONN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.2x
Fair PE Ratio22.2x

Price-To-Earnings vs Fair Ratio: VONN is good value based on its Price-To-Earnings Ratio (16.2x) compared to the estimated Fair Price-To-Earnings Ratio (22.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VONN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 62.70
CHF 57.00
-9.1%
10.8%CHF 65.00CHF 50.00n/a3
Dec ’25CHF 58.10
CHF 57.00
-1.9%
10.8%CHF 65.00CHF 50.00n/a3
Nov ’25CHF 56.20
CHF 57.33
+2.0%
10.1%CHF 65.00CHF 51.00n/a3
Oct ’25CHF 54.90
CHF 52.75
-3.9%
4.3%CHF 55.00CHF 50.50n/a2
Sep ’25CHF 55.80
CHF 52.75
-5.5%
4.3%CHF 55.00CHF 50.50n/a2
Aug ’25CHF 57.60
CHF 53.15
-7.7%
3.5%CHF 55.00CHF 51.30n/a2
Jul ’25CHF 54.10
CHF 51.40
-5.0%
2.7%CHF 52.80CHF 50.00n/a2
Jun ’25CHF 53.90
CHF 51.40
-4.6%
2.7%CHF 52.80CHF 50.00n/a2
May ’25CHF 51.80
CHF 51.40
-0.8%
2.7%CHF 52.80CHF 50.00n/a2
Apr ’25CHF 54.70
CHF 54.00
-1.3%
7.4%CHF 58.00CHF 50.00n/a2
Mar ’25CHF 54.20
CHF 55.00
+1.5%
5.5%CHF 58.00CHF 52.00n/a2
Feb ’25CHF 56.30
CHF 54.00
-4.1%
3.7%CHF 56.00CHF 52.00n/a2
Jan ’25CHF 54.50
CHF 52.00
-4.6%
7.7%CHF 56.00CHF 48.00n/a2
Dec ’24CHF 51.00
CHF 52.00
+2.0%
7.7%CHF 56.00CHF 48.00CHF 58.102
Nov ’24CHF 53.90
CHF 53.75
-0.3%
4.2%CHF 56.00CHF 51.50CHF 56.202
Oct ’24CHF 54.60
CHF 57.75
+5.8%
3.0%CHF 59.50CHF 56.00CHF 54.902
Sep ’24CHF 55.10
CHF 57.75
+4.8%
3.0%CHF 59.50CHF 56.00CHF 55.802
Aug ’24CHF 58.60
CHF 57.50
-1.9%
2.6%CHF 59.50CHF 56.00CHF 57.603
Jul ’24CHF 56.70
CHF 57.17
+0.8%
1.8%CHF 58.50CHF 56.00CHF 54.103
Jun ’24CHF 59.10
CHF 57.17
-3.3%
1.8%CHF 58.50CHF 56.00CHF 53.903
May ’24CHF 59.70
CHF 56.67
-5.1%
0.8%CHF 57.00CHF 56.00CHF 51.803
Apr ’24CHF 59.30
CHF 58.17
-1.9%
2.8%CHF 60.00CHF 56.00CHF 54.703
Mar ’24CHF 58.80
CHF 58.17
-1.1%
2.8%CHF 60.00CHF 56.00CHF 54.203
Feb ’24CHF 65.30
CHF 61.25
-6.2%
2.0%CHF 62.50CHF 60.00CHF 56.302

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 12:47
End of Day Share Price 2024/12/18 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Vontobel Holding AG is covered by 18 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tomasz GrzelakBaader Helvea Equity Research
Eleni PapoulaBerenberg
Nicholas HermanCitigroup Inc