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

Fundamentals

Established dividend payer with proven 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


Market Performance


7 Day Return

3.2%

SWX:HELN

0.5%

CH Insurance

0.4%

CH Market


1 Year Return

8.7%

SWX:HELN

17.2%

CH Insurance

2.3%

CH Market

HELN underperformed the Insurance industry which returned 17.2% over the past year.

HELN outperformed the Market in Switzerland which returned 2.3% over the past year.


Share holder returns

HELNIndustryMarket
7 Day3.2%0.5%0.4%
30 Day1.7%0.1%-1.2%
90 Day5.8%4.7%1.0%
1 Year13.0%8.7%23.4%17.2%7.6%2.3%
3 Year47.5%31.3%64.7%40.8%29.6%13.2%
5 Year69.4%40.5%80.2%37.0%32.1%11.6%

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 based on future cash flows and its price relative to the stock market?

32%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Helvetia Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).

Helvetia Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Helvetia Holding is overvalued based on earnings compared to the CH Insurance industry average.

Helvetia Holding is good value based on earnings compared to the Switzerland market.


Price Based on Expected Growth

Helvetia Holding is poor value based on expected growth next year.


Price Based on Value of Assets

Helvetia Holding is overvalued based on assets compared to the CH Insurance industry average.


Next Steps

Future Growth

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

8.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Helvetia Holding's revenue is expected to grow by 0.8% yearly, however this is not considered high growth (20% yearly).

Helvetia Holding's earnings are expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).

Helvetia Holding's revenue growth is positive but not above the Switzerland market average.

Helvetia Holding's earnings growth is positive but not above the Switzerland market average.

Helvetia Holding's earnings growth is expected to exceed the low risk savings rate of 3.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Helvetia Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Helvetia Holding performed over the past 5 years?

3.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Helvetia Holding's year on year earnings growth rate has been positive over the past 5 years.

Helvetia Holding's 1-year earnings growth exceeds its 5-year average (7% vs 3%)

Helvetia Holding's earnings growth has not exceeded the CH Insurance industry average in the past year (7% vs 7.8%).


Return on Equity

Helvetia Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Helvetia Holding used its assets more efficiently than the CH Insurance industry average last year based on Return on Assets.


Return on Capital Employed

Helvetia Holding has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Helvetia Holding's financial position?


Financial Position Analysis

Helvetia Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Helvetia Holding's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Helvetia Holding's level of debt (27.9%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (6% vs 27.9% today).

Debt is not well covered by operating cash flow (18.4%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 11.9x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 3x debt.


Next Steps

Dividend

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

4.06%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Helvetia Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (2%).

Helvetia Holding's dividend is below the markets top 25% of dividend payers in Switzerland (3.86%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (2x coverage).


Next Steps

Management

What is the CEO of Helvetia Holding's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Philipp Gmür (56yo)

2.9yrs

Tenure

CHF2,192,749

Compensation

Mr. Philipp Gmür serves as Chief Executive Officer of Helvetia Schweizerische Versicherungsgesellschaft AG. He is a Director of Allreal Holding AG since 2019. He serves as Chief Executive Officer (Group CE ...


CEO Compensation Analysis

Philipp's remuneration is about average for companies of similar size in Switzerland.

Philipp's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.8yrs

Average Tenure

58yo

Average Age

The tenure for the Helvetia Holding management team is about average.


Board Age and Tenure

3.5yrs

Average Tenure

57.5yo

Average Age

The tenure for the Helvetia Holding board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Philipp Gmür (56yo)

    Chief Executive Officer

    • Tenure: 2.9yrs
    • Compensation: CHF2.19m
  • Donald Desax (60yo)

    Head of Ocupational Pensions Switzerland

    • Tenure: 2.6yrs
  • Roland Bentele (58yo)

    Group Human Resources

    • Tenure: 0.0yrs
  • Markus Gemperle (58yo)

    Chief Executive Officer of Europe

    • Tenure: 4.6yrs
  • Paul Norton (58yo)

    Chief Financial Officer

    • Tenure: 12.1yrs
  • Susanne Tengler

    Head of Investor Relations

    • Tenure: 0.0yrs
  • Achim Baumstark (55yo)

    Head of IT & Group CTO

    • Tenure: 2.3yrs
  • Claudia Sauter

    Head of Corporate Communications & PR

    • Tenure: 0.0yrs
  • André Keller

    Chief Investment Officer

    • Tenure: 0.3yrs
  • Martin Tschopp

    Head of Corporate Development

    • Tenure: 0.0yrs

Board Members

  • Andreas von Planta (64yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: CHF209.38k
  • Christoph Lechner (52yo)

    Director

    • Tenure: 12.9yrs
    • Compensation: CHF209.38k
  • Thomas Schmuckli-Grob (56yo)

    Vice Chairman

    • Tenure: 1.3yrs
    • Compensation: CHF158.68k
  • Hans Künzle (58yo)

    Vice-Chairman of the Board

    • Tenure: 4.6yrs
    • Compensation: CHF270.41k
  • Ivo Furrer (62yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: CHF209.38k
  • Gabriela Payer (57yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: CHF223.39k
  • Doris Schurter (63yo)

    Chairwoman of the Board

    • Tenure: 1.7yrs
    • Compensation: CHF724.75k
  • Beat Fellmann (55yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: CHF127.60k
  • Jean-René Fournier (62yo)

    Director

    • Tenure: 8.3yrs
    • Compensation: CHF144.12k
  • Regula Wallimann (52yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: CHF127.60k

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: CHF6.344b
  • Shares outstanding: 49.45m
  • 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 Analysis2019/08/25 20:52
End of Day Share Price2019/08/23 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


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.