SWX:HELN

Stock Analysis Report

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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 with solid track record.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.3%

HELN

3.3%

CH Insurance

1.8%

CH Market


1 Year Return

-29.8%

HELN

-10.9%

CH Insurance

5.8%

CH Market

Return vs Industry: HELN underperformed the Swiss Insurance industry which returned -13.4% over the past year.

Return vs Market: HELN underperformed the Swiss Market which returned 3% over the past year.


Shareholder returns

HELNIndustryMarket
7 Day2.3%3.3%1.8%
30 Day-2.8%1.7%-0.06%
90 Day10.3%22.8%8.0%
1 Year-25.7%-29.8%-5.1%-10.9%9.4%5.8%
3 Year-9.6%-21.0%21.5%2.9%21.0%8.4%
5 Year1.3%-17.8%49.0%12.3%30.2%9.7%

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 (CHF86.15) is trading below our estimate of fair value (CHF241.36)

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 (8.2x) compared to the CH Insurance industry average (9.6x).

PE vs Market: HELN is good value based on its PE Ratio (8.2x) compared to the Swiss market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: HELN is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: HELN's PB Ratio (0.7x) is in line with the CH Insurance industry average.


Next Steps

Future Growth

How is Helvetia Holding forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

4.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HELN's forecast earnings growth (4.4% per year) is above the savings rate (-0.2%).

Earnings vs Market: HELN's earnings (4.4% per year) are forecast to grow slower than the Swiss market (9.6% per year).

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

Revenue vs Market: HELN's revenue is expected to decline over the next 3 years (-1.1% per year).

High Growth Revenue: HELN's revenue is forecast to decline over the next 3 years (-1.1% 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 (11.2%).


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 11.6%.


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?


Financial Position Analysis

Short Term Liabilities: HELN's short term assets (CHF6.0B) do not cover its short term liabilities (CHF8.1B).

Long Term Liabilities: HELN's short term assets (CHF6.0B) do not cover its long term liabilities (CHF46.4B).


Debt to Equity History and Analysis

Debt Level: HELN's debt to equity ratio (23.3%) is considered satisfactory.

Reducing Debt: HELN's debt to equity ratio has increased from 16.8% to 23.3% over the past 5 years.

Debt Coverage: HELN's debt is well covered by operating cash flow (39.9%).

Interest Coverage: HELN's interest payments on its debt are well covered by EBIT (12.6x coverage).


Balance Sheet


Next Steps

Dividend

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

5.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HELN's dividend (5.8%) is higher than the bottom 25% of dividend payers in the Swiss market (1.78%).

High Dividend: HELN's dividend (5.8%) is in the top 25% of dividend payers in the Swiss market (3.8%)


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 (50.9% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Insurance industry.

Management

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

4.8yrs

Average management tenure


CEO

Philipp Gmür (57 yo)

3.92yrs

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 ($USD2.49M) is about average for companies of similar size in the Swiss market ($USD2.44M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Philipp Gmür
Chief Executive Officer3.92yrsCHF2.27m0.040%
CHF 1.8m
Paul Norton
Chief Financial Officer13.08yrsno data0.014%
CHF 637.7k
André Keller
Chief Investment Officer1.33yrsno datano data
Achim Baumstark
Head of IT & Group CTO3.33yrsno data0.0019%
CHF 86.4k
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
Head of Corporate Center & Human Resourcesno datano datano data
Markus Gemperle
Chief Executive Officer of Europe5.58yrsno data0.0093%
CHF 423.6k
David Ribeaud
Chief Executive Officer of Specialty Markets5.58yrsno data0.0067%
CHF 305.9k
Patrick Scherrer
Head Strategy and M & Ano datano datano data
Gerald Kanis
Head of Active Reinsuranceno datano datano data

4.8yrs

Average Tenure

57yo

Average Age

Experienced Management: HELN's management team is considered experienced (4.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andreas von Planta
Non Executive Independent Director5.83yrsCHF227.53k0.0085%
CHF 386.3k
Christoph Lechner
Non Executive Independent Director13.92yrsCHF227.53k0.0081%
CHF 366.8k
Thomas Schmuckli-Grob
Non Executive Vice Chairman2.33yrsCHF260.34k0.0012%
CHF 55.0k
Hans Künzle
Non Executive Independent Vice-Chairman of the Board5.58yrsCHF294.87k0.0048%
CHF 218.6k
Ivo Furrer
Non Executive Independent Director3.33yrsCHF241.35k0.0024%
CHF 107.3k
Gabriela Payer
Non Executive Independent Director5.83yrsCHF248.25k0.0056%
CHF 252.7k
Doris Schurter
Non Executive Independent Chairwoman of the Board2.67yrsCHF724.75k0.018%
CHF 821.8k
Beat Fellmann
Non Executive Independent Director2.33yrsCHF213.72k0.0024%
CHF 107.7k
Jean-René Fournier
Non Executive Director9.25yrsCHF144.66k0.0037%
CHF 165.9k
Regula Wallimann
Non Executive Independent Director2.33yrsCHF213.72k0.0013%
CHF 58.2k

4.5yrs

Average Tenure

58.5yo

Average Age

Experienced Board: HELN's board of directors are considered experienced (4.5 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 been diluted in the past year, with total shares outstanding growing by 6.7%.


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: CHF4.545b
  • Shares outstanding: 52.76m
  • 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 ins ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/12 21:20
End of Day Share Price2020/08/12 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.