VZ Holding Valuation

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

VZN (CHF140.6) is trading above our estimate of [[fair value]] (CHF128.92)

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

Valuation Score

0/6

Valuation Score 0/6

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 VZN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VZN (CHF140.6) is trading above our estimate of fair value (CHF128.92)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VZN. This is calculated by dividing VZN's market cap by their current earnings.
What is VZN's PE Ratio?
PE Ratio	27.4x
Earnings	CHF 202.71m
Market Cap	CHF 5.55b

VZN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	7.8x
Enterprise Value/EBITDA	15.6x
PEG Ratio	3.5x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VZN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	22.3x
EFGN EFG International	12.3x	6.3%	CHF 3.7b
VONN Vontobel Holding	14.4x	17.7%	CHF 3.1b
BAER Julius Bär Gruppe	29.1x	22.4%	CHF 10.9b
PGHN Partners Group Holding	33.4x	14.2%	CHF 32.0b
VZN VZ Holding	27.4x	7.9%	CHF 5.6b

Price-To-Earnings vs Peers: VZN is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the peer average (22.3x).

Price to Earnings Ratio vs Industry

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

17 Companies	Price / Earnings	Estimated Growth	Market Cap

17 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: VZN is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the European Capital Markets industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is VZN'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.

VZN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	27.4x
Fair PE Ratio	20.3x

Price-To-Earnings vs Fair Ratio: VZN is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the estimated Fair Price-To-Earnings Ratio (20.3x).

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 VZN forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CHF 140.60	CHF 139.00 -1.1%	5.0%	CHF 146.00	CHF 132.00	n/a	2
Nov ’25	CHF 139.40	CHF 139.00 -0.3%	5.0%	CHF 146.00	CHF 132.00	n/a	2
Oct ’25	CHF 133.80	CHF 139.00 +3.9%	5.0%	CHF 146.00	CHF 132.00	n/a	2
Sep ’25	CHF 127.40	CHF 139.00 +9.1%	5.0%	CHF 146.00	CHF 132.00	n/a	2
Aug ’24	CHF 81.00	CHF 98.00 +21.0%	9.2%	CHF 107.00	CHF 89.00	CHF 118.60	2
Jul ’24	CHF 82.20	CHF 98.00 +19.2%	9.2%	CHF 107.00	CHF 89.00	CHF 116.40	2
Jun ’24	CHF 77.30	CHF 98.00 +26.8%	9.2%	CHF 107.00	CHF 89.00	CHF 112.00	2
May ’24	CHF 83.00	CHF 98.00 +18.1%	9.2%	CHF 107.00	CHF 89.00	CHF 106.20	2

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

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