Swiss Life Holding AG

SWX:SLHN Stock Report

Market Cap: CHF 24.6b

Swiss Life Holding Valuation

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

CHF 1.17k
Fair Value
26.0% undervalued intrinsic discount
11
Number of Analysts

Below Fair Value: SLHN (CHF869.2) is trading below our estimate of fair value (CHF1174.95)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SLHN. This is calculated by dividing SLHN's market cap by their current earnings.
What is SLHN's PE Ratio?
PE Ratio20.9x
EarningsCHF 1.18b
Market CapCHF 24.63b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SLHN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.2x
SREN Swiss Re
15.2x3.94%CHF 45.1b
HELN Helvetia Holding
19.6x4.08%CHF 10.6b
BALN Baloise Holding
20.7x3.49%CHF 9.1b
ZURN Zurich Insurance Group
17.4x6.62%CHF 81.6b
SLHN Swiss Life Holding
20.9x6.63%CHF 24.6b

Price-To-Earnings vs Peers: SLHN is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (18.2x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SLHN 20.9xIndustry Avg. 12.8xNo. of Companies15PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SLHN is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the European Insurance industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is SLHN'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.

SLHN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.9x
Fair PE Ratio19x

Price-To-Earnings vs Fair Ratio: SLHN is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the estimated Fair Price-To-Earnings Ratio (19x).

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 SLHN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 869.20
CHF 804.45
-7.45%
7.80%CHF 900.00CHF 690.00n/a11
Oct ’26CHF 854.00
CHF 804.45
-5.80%
7.80%CHF 900.00CHF 690.00n/a11
Sep ’26CHF 856.00
CHF 784.45
-8.36%
9.43%CHF 900.00CHF 675.00n/a11
Aug ’26CHF 845.80
CHF 784.45
-7.25%
9.43%CHF 900.00CHF 675.00n/a11
Jul ’26CHF 806.40
CHF 784.45
-2.72%
9.43%CHF 900.00CHF 675.00n/a11
Jun ’26CHF 821.40
CHF 774.45
-5.72%
8.75%CHF 900.00CHF 675.00n/a11
May ’26CHF 822.00
CHF 739.45
-10.04%
7.81%CHF 805.00CHF 650.00n/a11
Apr ’26CHF 808.80
CHF 724.00
-10.48%
8.58%CHF 805.00CHF 630.00n/a11
Mar ’26CHF 784.80
CHF 712.45
-9.22%
9.04%CHF 805.00CHF 630.00n/a11
Feb ’26CHF 747.00
CHF 709.09
-5.07%
8.98%CHF 805.00CHF 630.00n/a11
Jan ’26CHF 699.60
CHF 706.36
+0.97%
9.27%CHF 805.00CHF 630.00n/a11
Dec ’25CHF 721.80
CHF 713.09
-1.21%
8.68%CHF 805.00CHF 630.00n/a11
Nov ’25CHF 713.40
CHF 678.64
-4.87%
9.54%CHF 785.00CHF 550.00n/a11
Oct ’25CHF 701.80
CHF 668.50
-4.74%
8.69%CHF 770.00CHF 550.00CHF 854.0010
Sep ’25CHF 686.00
CHF 644.75
-6.01%
9.71%CHF 770.00CHF 550.00CHF 856.008
Aug ’25CHF 673.80
CHF 644.75
-4.31%
9.71%CHF 770.00CHF 550.00CHF 845.808
Jul ’25CHF 669.20
CHF 630.13
-5.84%
6.84%CHF 693.00CHF 550.00CHF 806.408
Jun ’25CHF 627.80
CHF 629.88
+0.33%
6.87%CHF 693.00CHF 550.00CHF 821.408
May ’25CHF 621.00
CHF 628.50
+1.21%
6.68%CHF 690.00CHF 550.00CHF 822.008
Apr ’25CHF 632.20
CHF 627.63
-0.72%
6.79%CHF 690.00CHF 550.00CHF 808.808
Mar ’25CHF 644.20
CHF 623.94
-3.15%
6.91%CHF 690.00CHF 550.00CHF 784.808
Feb ’25CHF 614.00
CHF 624.94
+1.78%
6.78%CHF 690.00CHF 550.00CHF 747.009
Jan ’25CHF 584.00
CHF 604.48
+3.51%
5.04%CHF 653.00CHF 550.00CHF 699.609
Dec ’24CHF 567.60
CHF 600.92
+5.87%
5.30%CHF 653.00CHF 550.00CHF 721.809
Nov ’24CHF 583.80
CHF 599.46
+2.68%
8.46%CHF 653.00CHF 476.80CHF 713.409
Oct ’24CHF 571.60
CHF 600.90
+5.13%
8.60%CHF 653.00CHF 476.80CHF 701.809
CHF 804.45
Fair Value
8.0% overvalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/13 04:33
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Swiss Life Holding AG is covered by 21 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Daniel BischofBaader Helvea Equity Research
Alessia MagniBarclays
Michael HuttnerBerenberg