Baloise Holding AG

SWX:BALN Stock Report

Market Cap: CHF 7.3b

Baloise Holding Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: BALN (CHF162.1) is trading below our estimate of fair value (CHF275.12)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BALN. This is calculated by dividing BALN's market cap by their current earnings.
What is BALN's PE Ratio?
PE Ratio29x
EarningsCHF 253.70m
Market CapCHF 7.34b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BALN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.4x
HELN Helvetia Holding
28.2x14.5%CHF 7.7b
VAHN Vaudoise Assurances Holding
9.9xn/aCHF 1.4b
ZURN Zurich Insurance Group
17.6x9.9%CHF 77.5b
SLHN Swiss Life Holding
17.8x3.3%CHF 19.3b
BALN Baloise Holding
29x16.3%CHF 7.3b

Price-To-Earnings vs Peers: BALN is expensive based on its Price-To-Earnings Ratio (29x) compared to the peer average (18.4x).

Price to Earnings Ratio vs Industry

How does BALN's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BALN 29.0xIndustry Avg. 11.8xNo. of Companies14PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BALN is expensive based on its Price-To-Earnings Ratio (29x) compared to the European Insurance industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is BALN'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.

BALN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29x
Fair PE Ratio22.9x

Price-To-Earnings vs Fair Ratio: BALN is expensive based on its Price-To-Earnings Ratio (29x) compared to the estimated Fair Price-To-Earnings Ratio (22.9x).

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 BALN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 162.10
CHF 168.50
+3.9%
7.1%CHF 190.00CHF 150.00n/a7
Dec ’25CHF 167.40
CHF 168.64
+0.7%
6.5%CHF 190.00CHF 155.00n/a7
Nov ’25CHF 167.60
CHF 166.07
-0.9%
7.8%CHF 190.00CHF 146.00n/a7
Oct ’25CHF 172.10
CHF 166.75
-3.1%
8.3%CHF 190.00CHF 146.00n/a6
Sep ’25CHF 164.10
CHF 152.00
-7.4%
2.3%CHF 155.00CHF 146.00n/a4
Aug ’25CHF 157.50
CHF 152.00
-3.5%
2.3%CHF 155.00CHF 146.00n/a4
Jul ’25CHF 158.20
CHF 151.25
-4.4%
2.2%CHF 155.00CHF 146.00n/a4
Jun ’25CHF 155.90
CHF 151.25
-3.0%
2.2%CHF 155.00CHF 146.00n/a4
May ’25CHF 138.80
CHF 151.25
+9.0%
2.2%CHF 155.00CHF 146.00n/a4
Apr ’25CHF 141.30
CHF 145.00
+2.6%
2.2%CHF 149.00CHF 140.00n/a4
Mar ’25CHF 142.90
CHF 147.75
+3.4%
1.6%CHF 151.00CHF 145.00n/a4
Feb ’25CHF 138.00
CHF 146.75
+6.3%
1.7%CHF 151.00CHF 145.00n/a4
Jan ’25CHF 131.80
CHF 145.50
+10.4%
2.7%CHF 151.00CHF 140.00n/a4
Dec ’24CHF 133.70
CHF 149.25
+11.6%
3.8%CHF 159.00CHF 145.00CHF 167.404
Nov ’24CHF 130.50
CHF 153.50
+17.6%
4.3%CHF 161.00CHF 147.00CHF 167.604
Oct ’24CHF 132.90
CHF 156.75
+17.9%
3.6%CHF 161.00CHF 147.00CHF 172.104
Sep ’24CHF 138.80
CHF 156.75
+12.9%
3.6%CHF 161.00CHF 147.00CHF 164.104
Aug ’24CHF 134.80
CHF 156.40
+16.0%
3.3%CHF 161.00CHF 147.00CHF 157.505
Jul ’24CHF 131.40
CHF 156.40
+19.0%
3.3%CHF 161.00CHF 147.00CHF 158.205
Jun ’24CHF 140.00
CHF 156.40
+11.7%
3.3%CHF 161.00CHF 147.00CHF 155.905
May ’24CHF 149.10
CHF 156.40
+4.9%
3.3%CHF 161.00CHF 147.00CHF 138.805
Apr ’24CHF 142.40
CHF 156.40
+9.8%
3.3%CHF 161.00CHF 147.00CHF 141.305
Mar ’24CHF 156.20
CHF 157.60
+0.9%
6.0%CHF 174.00CHF 147.00CHF 142.905
Feb ’24CHF 149.80
CHF 157.60
+5.2%
6.0%CHF 174.00CHF 147.00CHF 138.005
Jan ’24CHF 142.70
CHF 155.20
+8.8%
8.2%CHF 174.00CHF 135.00CHF 131.805
Dec ’23CHF 143.50
CHF 155.20
+8.2%
8.2%CHF 174.00CHF 135.00CHF 133.705

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 19:16
End of Day Share Price 2024/12/19 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

Baloise Holding AG is covered by 22 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dieter HeinAlphaValue
Guenther HollfelderBaader Helvea Equity Research
Stefan SchürmannBank Vontobel AG