SWX:HELN

Stock Analysis Report

Executive Summary

Helvetia Holding AG, through its subsidiaries, provides life and non-life insurance, and reinsurance products in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.


Snowflake Analysis

6 star dividend payer and undervalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: HELN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.6%

HELN

-1.4%

CH Insurance

1.4%

CH Market


1 Year Return

-35.1%

HELN

-15.8%

CH Insurance

-5.2%

CH Market

Return vs Industry: HELN underperformed the Swiss Insurance industry which returned -16.2% over the past year.

Return vs Market: HELN underperformed the Swiss Market which returned -5.4% over the past year.


Shareholder returns

HELNIndustryMarket
7 Day0.6%-1.4%1.4%
30 Day-38.3%-20.7%-9.0%
90 Day-41.6%-26.4%-13.7%
1 Year-32.5%-35.1%-8.9%-15.8%-0.3%-5.2%
3 Year-17.2%-26.3%18.8%1.7%15.5%3.7%
5 Year-10.2%-25.5%27.0%-4.0%16.5%-2.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HELN (CHF80.6) is trading below our estimate of fair value (CHF244.37)

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


Price To Earnings Ratio

PE vs Industry: HELN is good value based on its PE Ratio (7.7x) compared to the Insurance industry average (9.5x).

PE vs Market: HELN is good value based on its PE Ratio (7.7x) compared to the Swiss market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: HELN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: HELN is good value based on its PB Ratio (0.7x) compared to the CH Insurance industry average (0.7x).


Next Steps

Future Growth

How is Helvetia Holding forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-0.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HELN's forecast earnings growth (-0.3% per year) is above the savings rate (-0.6%).

Earnings vs Market: HELN's earnings are forecast to decline over the next 3 years (-0.3% per year).

High Growth Earnings: HELN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: HELN's revenue (2.9% per year) is forecast to grow faster than the Swiss market (2.3% per year).

High Growth Revenue: HELN's revenue (2.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HELN's Return on Equity is forecast to be low in 3 years time (8.4%).


Next Steps

Past Performance

How has Helvetia Holding performed over the past 5 years?

8.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HELN has high quality earnings.

Growing Profit Margin: HELN's current net profit margins (5%) are higher than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: HELN's earnings have grown by 8.9% per year over the past 5 years.

Accelerating Growth: HELN's earnings growth over the past year (25.6%) exceeds its 5-year average (8.9% per year).

Earnings vs Industry: HELN earnings growth over the past year (25.6%) exceeded the Insurance industry 18.6%.


Return on Equity

High ROE: HELN's Return on Equity (8.2%) is considered low.


Next Steps

Financial Health

How is Helvetia 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

Inventory Level: HELN has a low level of unsold assets or inventory.

Debt Coverage by Assets: HELN's debt is covered by short term assets (assets are 3.9x debt).


Financial Institutions Analysis

Asset Level: HELN's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if HELN has a sufficient allowance for bad loans.

Low Risk Liabilities: HELN reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if HELN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: HELN has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if HELN has an appropriate level of bad loans.


Next Steps

Dividend

What is Helvetia Holding's current dividend yield, its reliability and sustainability?

6.20%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: HELN's dividend (6.2%) is higher than the bottom 25% of dividend payers in the Swiss market (2.11%).

High Dividend: HELN's dividend (6.2%) is in the top 25% of dividend payers in the Swiss market (4.29%)


Stability and Growth of Payments

Stable Dividend: HELN's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.5%), HELN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HELN's dividends in 3 years are forecast to be covered by earnings (54.5% payout ratio).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Philipp Gmür (56yo)

3.58s

Tenure

CHF2,265,933

Compensation

Mr. Philipp Gmür serves as Chief Executive Officer of Helvetia Schweizerische Versicherungsgesellschaft AG. He is a Director of Allreal Holding AG since April 12, 2019. He serves as Chief Executive Officer ...


CEO Compensation Analysis

Compensation vs Market: Philipp's total compensation ($USD2.33M) is about average for companies of similar size in the Swiss market ($USD2.08M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Philipp Gmür
Chief Executive Officer3.58yrsCHF2.27m0.042% CHF1.7m
Paul Norton
Chief Financial Officer12.75yrsno data0.015% CHF596.3k
André Keller
Chief Investment Officer1yrno datano data
Achim Baumstark
Head of IT & Group CTO3yrsno data0.0020% CHF80.5k
Susanne Tengler
Head of Investor Relationsno datano datano data
Claudia Sauter
Head of Corporate Communications & PRno datano datano data
Martin Tschopp
Head of Corporate Developmentno datano datano data
Roland Bentele
Group Human Resourcesno datano datano data
Donald Desax
Head of Ocupational Pensions Switzerland3.25yrsno data0.029% CHF1.1m
Markus Gemperle
Chief Executive Officer of Europe5.25yrsno data0.0099% CHF396.2k

3.4yrs

Average Tenure

58yo

Average Age

Experienced Management: HELN's management team is considered experienced (3.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andreas von Planta
Non Executive Independent Director5.5yrsCHF227.53k0.0091% CHF361.6k
Christoph Lechner
Non Executive Independent Director13.58yrsCHF227.53k0.0086% CHF342.8k
Thomas Schmuckli-Grob
Non Executive Vice Chairman2yrsCHF260.34k0.0013% CHF51.4k
Hans Künzle
Non Executive Independent Vice-Chairman of the Board5.25yrsCHF294.87k0.0051% CHF204.9k
Ivo Furrer
Non Executive Independent Director3yrsCHF241.35k0.0025% CHF100.5k
Gabriela Payer
Non Executive Independent Director5.5yrsCHF248.25k0.0059% CHF236.4k
Doris Schurter
Non Executive Independent Chairwoman of the Board2.33yrsCHF724.75k0.019% CHF769.0k
Beat Fellmann
Non Executive Independent Director2yrsCHF213.72k0.0025% CHF100.9k
Jean-René Fournier
Non Executive Director8.92yrsCHF144.66k0.0039% CHF155.1k
Regula Wallimann
Non Executive Independent Director2yrsCHF213.72k0.0014% CHF54.2k

4.1yrs

Average Tenure

57.5yo

Average Age

Experienced Board: HELN's board of directors are considered experienced (4.1 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

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


Key Information

  • Name: Helvetia Holding AG
  • Ticker: HELN
  • Exchange: SWX
  • Founded: 1858
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: CHF3.986b
  • Shares outstanding: 49.46m
  • Website: https://www.helvetia.com

Number of Employees


Location

  • Helvetia Holding AG
  • Dufourstrasse 40
  • Sankt Gallen
  • St. Gallen
  • 9001
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HELNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJul 1996
HVXADB (Deutsche Boerse AG)YesRegistered SharesDEEURJul 1996
HLVT.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDAug 2017

Biography

Helvetia Holding AG, through its subsidiaries, provides life and non-life insurance, and reinsurance products in Switzerland, Germany, Austria, Spain, Italy, France, and internationally. It offers life insurance, pension plans, and annuity insurance products; and non-life insurance products, such as property, motor vehicle, liability, transport, art, health, and accident insurance. The company was founded in 1858 and is headquartered in Sankt Gallen, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 20:45
End of Day Share Price2020/04/02 00:00
Earnings2019/12/31
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.