Swiss Life Holding
Market Cap
CHF11.8b
Last Updated
2020/06/04 09:12 UTC
Data Sources
Company Financials +
Executive Summary
Swiss Life Holding AG provides life insurance, risk, pensions, and financial solutions for private and corporate clients.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and good value.
Similar Companies
Share Price & News
How has Swiss Life Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SLHN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
7.7%
SLHN
5.7%
CH Insurance
2.8%
CH Market
1 Year Return
-20.2%
SLHN
-14.4%
CH Insurance
3.8%
CH Market
Return vs Industry: SLHN underperformed the Swiss Insurance industry which returned -14.4% over the past year.
Return vs Market: SLHN underperformed the Swiss Market which returned 3.8% over the past year.
Shareholder returns
| SLHN | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.7% | 5.7% | 2.8% |
| 30 Day | 14.3% | 3.9% | 5.4% |
| 90 Day | -13.8% | -20.5% | -1.6% |
| 1 Year | -16.7%-20.2% | -9.0%-14.4% | 7.2%3.8% |
| 3 Year | 30.4%16.1% | 17.5%-0.4% | 19.9%7.7% |
| 5 Year | 105.6%71.1% | 38.9%4.6% | 31.1%9.2% |
Price Volatility Vs. Market
How volatile is Swiss Life Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Is Now The Time To Look At Buying Swiss Life Holding AG (VTX:SLHN)?2 weeks ago | Simply Wall St
What Kind Of Investor Owns Most Of Swiss Life Holding AG (VTX:SLHN)?1 month ago | Simply Wall St
Swiss Life Holding AG (VTX:SLHN) Looks Like A Good Stock, And It's Going Ex-Dividend SoonValuation
Is Swiss Life Holding undervalued compared to its fair value and its price relative to the market?
44.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SLHN (CHF370.5) is trading below our estimate of fair value (CHF672.9)
Significantly Below Fair Value: SLHN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SLHN is poor value based on its PE Ratio (10.1x) compared to the Insurance industry average (9.9x).
PE vs Market: SLHN is good value based on its PE Ratio (10.1x) compared to the Swiss market (19.8x).
Price to Earnings Growth Ratio
PEG Ratio: SLHN is poor value based on its PEG Ratio (3.6x)
Price to Book Ratio
PB vs Industry: SLHN is good value based on its PB Ratio (0.7x) compared to the CH Insurance industry average (0.8x).
Next Steps
Future Growth
How is Swiss Life Holding forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
2.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SLHN's forecast earnings growth (2.8% per year) is above the savings rate (-0.2%).
Earnings vs Market: SLHN's earnings (2.8% per year) are forecast to grow slower than the Swiss market (8.7% per year).
High Growth Earnings: SLHN's earnings are forecast to grow, but not significantly.
Revenue vs Market: SLHN's revenue is expected to decline over the next 3 years (-7% per year).
High Growth Revenue: SLHN's revenue is forecast to decline over the next 3 years (-7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SLHN's Return on Equity is forecast to be low in 3 years time (8.9%).
Next Steps
Past Performance
How has Swiss Life Holding performed over the past 5 years?
7.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SLHN has high quality earnings.
Growing Profit Margin: SLHN's current net profit margins (5%) are lower than last year (5.4%).
Past Earnings Growth Analysis
Earnings Trend: SLHN's earnings have grown by 7.8% per year over the past 5 years.
Accelerating Growth: SLHN's earnings growth over the past year (11.4%) exceeds its 5-year average (7.8% per year).
Earnings vs Industry: SLHN earnings growth over the past year (11.4%) underperformed the Insurance industry 18.6%.
Return on Equity
High ROE: SLHN's Return on Equity (7.3%) is considered low.
Next Steps
Financial Health
How is Swiss Life Holding's financial position?
Financial Position Analysis
Short Term Liabilities: SLHN's short term assets (CHF60.0B) exceed its short term liabilities (CHF15.5B).
Long Term Liabilities: SLHN's short term assets (CHF60.0B) do not cover its long term liabilities (CHF196.1B).
Debt to Equity History and Analysis
Debt Level: SLHN's debt to equity ratio (62.2%) is considered high.
Reducing Debt: SLHN's debt to equity ratio has reduced from 75.5% to 62.2% over the past 5 years.
Debt Coverage: SLHN's debt is well covered by operating cash flow (21.2%).
Interest Coverage: SLHN's interest payments on its debt are well covered by EBIT (5.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Swiss Life Holding's current dividend yield, its reliability and sustainability?
5.40%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: SLHN's dividend (5.4%) is higher than the bottom 25% of dividend payers in the Swiss market (1.94%).
High Dividend: SLHN's dividend (5.4%) is in the top 25% of dividend payers in the Swiss market (3.84%)
Stability and Growth of Payments
Stable Dividend: SLHN's dividend payments have been volatile in the past 10 years.
Growing Dividend: SLHN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (54.7%), SLHN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SLHN's dividends in 3 years are forecast to be covered by earnings (60.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.8yrs
Average management tenure
CEO
Patrick Frost (51yo)
5.92yrs
Tenure
CHF4,255,337
Compensation
Dr. Patrick Frost serves as the Group Chief Executive Officer at Swiss Life (Singapore) Pte. Ltd. Dr. Frost serves as Independent Non Executive Director at Roche Holding AG since March 2020. Dr. Frost has ...
CEO Compensation Analysis
Compensation vs Market: Patrick's total compensation ($USD4.42M) is below average for companies of similar size in the Swiss market ($USD6.61M).
Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group CEO & Chairman of the Corporate Executive Board | 5.92yrs | CHF4.26m | 0.069% CHF8.2m | |
| Group CFO & Member of Executive Board | 1.25yrs | no data | 0.0082% CHF971.9k | |
| CEO of France & Member of the Corporate Executive Board | 11.92yrs | no data | 0.0052% CHF609.3k | |
| CEO of Switzerland & Member of the Corporate Executive Board | 6.17yrs | no data | 0.018% CHF2.2m | |
| CEO of International & Member of the Corporate Executive Board | 5.42yrs | no data | 0.0063% CHF744.0k | |
| Group Chief Investment Officer & Member of the Corporate Executive Board | 5.75yrs | no data | 0.015% CHF1.8m | |
| CEO of Germany & Member of the Corporate Executive Board | 2.92yrs | no data | 0.00078% CHF92.1k | |
| Head of Corporate Finance and M&A | 10.42yrs | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Group Controlling | 5.42yrs | no data | no data |
5.8yrs
Average Tenure
55yo
Average Age
Experienced Management: SLHN's management team is seasoned and experienced (5.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 11.08yrs | CHF1.20m | 0.098% CHF11.5m | |
| Director | 7.17yrs | CHF230.38k | 0.0036% CHF428.7k | |
| Director | 1.17yrs | CHF105.21k | 0.076% CHF9.0m | |
| Director | 7.17yrs | CHF140.21k | 0.0032% CHF375.5k | |
| Independent Vice Chairman of the Board | 11.08yrs | CHF350.29k | 0.018% CHF2.1m | |
| Independent Director | 14.08yrs | CHF197.26k | 0.039% CHF4.6m | |
| Independent Director | 17.08yrs | CHF140.21k | 0.010% CHF1.2m | |
| Director | 3.17yrs | CHF193.63k | 0.0027% CHF314.1k | |
| Independent Director | 7.17yrs | CHF160.51k | 0.0032% CHF383.8k | |
| Director | 9.08yrs | CHF140.21k | 0.0056% CHF658.9k |
8.1yrs
Average Tenure
62yo
Average Age
Experienced Board: SLHN's board of directors are considered experienced (8.1 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
Swiss Life Holding AG's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Swiss Life Holding AG
- Ticker: SLHN
- Exchange: SWX
- Founded: 1857
- Industry: Life and Health Insurance
- Sector: Insurance
- Market Cap: CHF11.809b
- Shares outstanding: 31.87m
- Website: https://www.swisslife.com
Number of Employees
Location
- Swiss Life Holding AG
- General-Guisan-Quai 40
- PO Box 2831
- Zurich
- Zurich
- 8022
- Switzerland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SWSD.F | OTCPK (Pink Sheets LLC) | Yes | Registered Shares | US | USD | Jul 1997 |
| SLHN | SWX (SIX Swiss Exchange) | Yes | Registered Shares | CH | CHF | Jul 1997 |
| 0QMG | LSE (London Stock Exchange) | Yes | Registered Shares | GB | CHF | Jul 1997 |
| SLW | DB (Deutsche Boerse AG) | Yes | Registered Shares | DE | EUR | Jul 1997 |
| SZLM.Y | OTCPK (Pink Sheets LLC) | ADR | US | USD | Oct 2008 | |
| SLHNE | SWX (SIX Swiss Exchange) | CHF5.1 (REPUR 2ND TRADE LINE) | CH | CHF | Dec 2018 |
Biography
Swiss Life Holding AG provides life insurance, risk, pensions, and financial solutions for private and corporate clients. It operates through Switzerland, France, Germany, International and Asset Managers segments. The company offers a range of life, pension, health, annuity, and investment-type policies to groups and individuals, as well as disability coverage. It also provides property and casualty, liability and motor, accident and health, and payment protection insurance. In addition, the company manages assets and provides advisory services for institutional clients, as well as undertakes reinsurance business. Further, the company engages in the private equity, information technology, real estate, banking, restaurant, and investment funds business. Swiss Life Holding AG distributes its products through its agents, financial advisors, and distribution partners. The company operates in Switzerland and internationally under the Swiss Life Select, Tecis, Horbach, Proventus, and Chase de Vere advisors brands. Swiss Life Holding AG was founded in 1857 and is headquartered in Zurich, Switzerland.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/04 09:12 |
| End of Day Share Price | 2020/06/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.