Thurgauer Kantonalbank provides banking products and services for private, corporate, commercial, and public sectors in Switzerland.
Undervalued with adequate balance sheet.
Share Price & News
How has Thurgauer Kantonalbank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TK2A has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: TK2A exceeded the German Banks industry which returned -4.5% over the past year.
Return vs Market: TK2A underperformed the German Market which returned 17.1% over the past year.
Price Volatility Vs. Market
How volatile is Thurgauer Kantonalbank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Thurgauer Kantonalbank undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TK2A (€92.8) is trading below our estimate of fair value (€226.25)
Significantly Below Fair Value: TK2A is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TK2A is good value based on its PE Ratio (3.2x) compared to the Banks industry average (17x).
PE vs Market: TK2A is good value based on its PE Ratio (3.2x) compared to the German market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate TK2A's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: TK2A is good value based on its PB Ratio (0.2x) compared to the DE Banks industry average (0.9x).
How is Thurgauer Kantonalbank forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TK2A's earnings are forecast to decline over the next 3 years (-2% per year).
Earnings vs Market: TK2A's earnings are forecast to decline over the next 3 years (-2% per year).
High Growth Earnings: TK2A's earnings are forecast to decline over the next 3 years.
Revenue vs Market: TK2A's revenue (0.6% per year) is forecast to grow slower than the German market (4.8% per year).
High Growth Revenue: TK2A's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TK2A's Return on Equity is forecast to be low in 3 years time (5.5%).
How has Thurgauer Kantonalbank performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TK2A has high quality earnings.
Growing Profit Margin: TK2A's current net profit margins (39.4%) are higher than last year (37.9%).
Past Earnings Growth Analysis
Earnings Trend: TK2A's earnings have grown by 3.3% per year over the past 5 years.
Accelerating Growth: TK2A's earnings growth over the past year (2.4%) is below its 5-year average (3.3% per year).
Earnings vs Industry: TK2A earnings growth over the past year (2.4%) underperformed the Banks industry 3.9%.
Return on Equity
High ROE: TK2A's Return on Equity (6.1%) is considered low.
How is Thurgauer Kantonalbank's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TK2A has a low level of unsold assets or inventory.
Debt Coverage by Assets: TK2A's debt is not covered by short term assets (assets are 0.3x debt).
Financial Institutions Analysis
Asset Level: TK2A's level of assets compared to its equity is moderate.
Allowance for Bad Loans: TK2A has a low allowance for bad loans.
Low Risk Liabilities: TK2A's liabilities are made up of primarily low risk sources of funding.
Loan Level: TK2A has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TK2A has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: TK2A has an appropriate level of bad loans (0.44%)
What is Thurgauer Kantonalbank's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: TK2A's dividend (2.59%) is higher than the bottom 25% of dividend payers in the German market (1.38%).
High Dividend: TK2A's dividend (2.59%) is low compared to the top 25% of dividend payers in the German market (3.53%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, TK2A has been paying a dividend for less than 10 years.
Growing Dividend: TK2A's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (8.4%), TK2A's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TK2A's dividends in 3 years are forecast to be well covered by earnings (43.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Thomas Koller (50yo)
Mr. Thomas Koller has been Chairman of Management Board, Head of Bank Management & Private Customers ad Interim Business Unit at Thurgauer Kantonalbank since January 1, 2019. He served as Chief Executive O ...
CEO Compensation Analysis
Compensation vs Market: Thomas's total compensation ($USD661.60K) is about average for companies of similar size in the German market ($USD817.80K).
Compensation vs Earnings: Insufficient data to compare Thomas's compensation with company performance.
|Chairman of Management Board||0.75yr||CHF653.44k||0.010% CHF39.8k|
|Chief Financial Officer||no data||no data||no data|
|Head of Business Unit Services & Member of the Management Board||8.42yrs||no data||0.0014% CHF5.4k|
|Head of the Market Services Division & Member of the Management Board||4.17yrs||no data||0.020% CHF79.5k|
|Head of Business Customers Division & Member of Management Board||4.08yrs||no data||0.0050% CHF19.9k|
Experienced Management: TK2A's management team is considered experienced (4.1 years average tenure).
|President of the Bank Council||11.08yrs||CHF233.26k||0.056% CHF223.6k|
|Member of the Bank Council||11.08yrs||CHF77.54k||0.0092% CHF36.8k|
|Member of the Bank Council||7.25yrs||CHF63.74k||0.011% CHF43.7k|
|Vice President of the Bank Council||4.17yrs||CHF111.54k||0.027% CHF107.3k|
|Member of the Bank Council||8.25yrs||CHF63.74k||0.070% CHF278.3k|
|Member of the Bank Council||3.25yrs||CHF84.98k||0.0082% CHF32.7k|
|Member of the Bank Council||4.17yrs||CHF69.05k||no data|
|Member of the Bank Council||2.25yrs||CHF53.11k||no data|
|Member of the Bank Council||3.33yrs||CHF56.30k||0.0070% CHF27.8k|
Experienced Board: TK2A's board of directors are considered experienced (4.2 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Thurgauer Kantonalbank's company bio, employee growth, exchange listings and data sources
- Name: Thurgauer Kantonalbank
- Ticker: TK2A
- Exchange: DB
- Founded: 1871
- Industry: Regional Banks
- Sector: Banks
- Market Cap: CHF432.000m
- Listing Market Cap: CHF397.551m
- Shares outstanding: 4.00m
- Website: https://www.tkb.ch
Number of Employees
- Thurgauer Kantonalbank
- bench 1
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TKBP||SWX (SIX Swiss Exchange)||Yes||Share Capital||CH||CHF||Apr 2014|
|0QS4||LSE (London Stock Exchange)||Yes||Share Capital||GB||CHF||Apr 2014|
|TK2A||DB (Deutsche Boerse AG)||Yes||Share Capital||DE||EUR||Apr 2014|
Thurgauer Kantonalbank provides banking products and services for private, corporate, commercial, and public sectors in Switzerland. It offers accounts, home and personal loans, property mortgages, asset management, financial planning, guarantees, cards, mobile payment, and online banking services. The company also provides finance investment and real estate services. It operates through a network of 28 branches and 77 ATMs. Thurgauer Kantonalbank was founded in 1871 and is headquartered in Weinfelden, Switzerland.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2019/09/25 22:16|
|End of Day Share Price||2019/06/28 00:00|
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.