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VP Bank

DB:3VFN
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3VFN
DB
CHF871M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

VP Bank AG provides asset-management and investment-advisory services for private and institutional investors, and financial intermediaries in Liechtenstein and internationally. The last earnings update was 49 days ago. More info.


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3VFN Share Price and Events
7 Day Returns
2.3%
DB:3VFN
2.9%
DE Capital Markets
1.5%
DE Market
1 Year Returns
-4.6%
DB:3VFN
-13.4%
DE Capital Markets
-6.2%
DE Market
3VFN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VP Bank (3VFN) 2.3% 9.7% 4.5% -4.6% 53.7% 84.8%
DE Capital Markets 2.9% 5.6% 6% -13.4% -17.1% -46.6%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • 3VFN outperformed the Capital Markets industry which returned -13.4% over the past year.
  • 3VFN outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
3VFN
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for VP Bank's competitors could be found in our database.

3VFN Value

 Is VP Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VP Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VP Bank.

DB:3VFN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CHF175.85 * 6.5%
CHF11.48
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. CHF175.85
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:3VFN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 12.5%) (107.24%))
1.282
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.282 * 5.96%)
7.87%

Discounted Cash Flow Calculation for DB:3VFN using Excess Returns Model Model

The calculations below outline how an intrinsic value for VP Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:3VFN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.5% – 7.87%) * CHF175.85)
CHF-2.36
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-2.36 / (7.87% - 0.23%)
CHF-30.93
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF175.85 + CHF-30.93
CHF144.92
DB:3VFN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3VFN represents 0.88682x of SWX:VPBN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88682x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 144.92 x 0.88682
€128.52
Value per share (EUR) From above. €128.52
Current discount Discount to share price of €129.12
= -1 x (€129.12 - €128.52) / €128.52
-0.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of VP Bank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VP Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VP Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3VFN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF9.04
SWX:VPBN Share Price ** SWX (2019-04-23) in CHF CHF145.6
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 16.26x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VP Bank.

DB:3VFN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:VPBN Share Price ÷ EPS (both in CHF)

= 145.6 ÷ 9.04

16.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VP Bank is good value based on earnings compared to the DE Capital Markets industry average.
  • VP Bank is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does VP Bank's expected growth come at a high price?
Raw Data
DB:3VFN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
12%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.27x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:3VFN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.1x ÷ 12%

1.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VP Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on VP Bank's assets?
Raw Data
DB:3VFN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF164.05
SWX:VPBN Share Price * SWX (2019-04-23) in CHF CHF145.6
Germany Capital Markets Industry PB Ratio Median Figure of 30 Publicly-Listed Capital Markets Companies 1.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:3VFN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:VPBN Share Price ÷ Book Value per Share (both in CHF)

= 145.6 ÷ 164.05

0.89x

* Primary Listing of VP Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VP Bank is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess VP Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. VP Bank has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3VFN Future Performance

 How is VP Bank expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VP Bank expected to grow at an attractive rate?
  • VP Bank's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • VP Bank's earnings growth is expected to exceed the Germany market average.
  • VP Bank's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3VFN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3VFN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 12%
DB:3VFN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5.3%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 28.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:3VFN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3VFN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 357 83 3
2020-12-31 338 76 3
2019-12-31 323 70 3
DB:3VFN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 303 -697 55
2018-09-30 304 -220 59
2018-06-30 293 256 64
2018-03-31 290 421 65
2017-12-31 298 586 66
2017-09-30 291 453 65
2017-06-30 283 320 65
2017-03-31 277 576 62
2016-12-31 270 833 58
2016-09-30 262 1,216 53
2016-06-30 254 1,599 48
2016-03-31 248 1,180 56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VP Bank's earnings are expected to grow by 12% yearly, however this is not considered high growth (20% yearly).
  • VP Bank's revenue is expected to grow by 5.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:3VFN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from VP Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3VFN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 13.75 13.99 13.50 2.00
2020-12-31 12.57 13.04 12.10 2.00
2019-12-31 11.57 11.60 11.54 2.00
DB:3VFN Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 9.04
2018-09-30 9.76
2018-06-30 10.48
2018-03-31 10.69
2017-12-31 10.89
2017-09-30 10.84
2017-06-30 10.79
2017-03-31 10.20
2016-12-31 9.61
2016-09-30 8.69
2016-06-30 7.78
2016-03-31 9.00

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • VP Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess VP Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VP Bank has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3VFN Past Performance

  How has VP Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VP Bank's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VP Bank's year on year earnings growth rate has been positive over the past 5 years.
  • VP Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • VP Bank's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
VP Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VP Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3VFN Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 303.50 54.72 244.75
2018-09-30 303.86 59.16 238.91
2018-06-30 292.58 63.60 233.07
2018-03-31 289.54 64.68 229.24
2017-12-31 298.13 65.77 225.42
2017-09-30 290.74 65.40 220.47
2017-06-30 283.36 65.03 215.52
2017-03-31 276.91 61.51 212.06
2016-12-31 270.46 57.99 208.60
2016-09-30 262.33 52.76 210.77
2016-06-30 254.20 47.53 212.93
2016-03-31 248.37 55.79 219.42
2015-12-31 242.54 64.06 225.91
2015-09-30 232.51 56.94 216.86
2015-06-30 222.47 49.83 207.80
2015-03-31 218.86 34.93 200.56
2014-12-31 215.24 20.03 193.31
2014-09-30 217.72 19.89 197.01
2014-06-30 220.20 19.75 200.71
2014-03-31 226.62 27.74 197.78
2013-12-31 233.04 35.73 194.85
2013-06-30 234.13 40.89 191.28
2013-03-31 231.07 44.95 195.57
2012-12-31 228.01 49.02 199.85
2012-09-30 220.86 38.52 207.61
2012-06-30 210.37 20.36 210.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • VP Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • VP Bank used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if VP Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess VP Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VP Bank has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3VFN Health

 How is VP Bank's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up VP Bank's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VP Bank's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • VP Bank's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of VP Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VP Bank Company Filings, last reported 3 months ago.

DB:3VFN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 981.58 934.26 3,321.29
2018-09-30 981.58 934.26 3,321.29
2018-06-30 957.38 739.60 3,809.65
2018-03-31 957.38 739.60 3,809.65
2017-12-31 990.13 1,051.62 4,405.73
2017-09-30 990.13 1,051.62 4,405.73
2017-06-30 942.26 1,169.51 3,909.03
2017-03-31 942.26 1,169.51 3,909.03
2016-12-31 936.94 835.49 4,088.78
2016-09-30 936.94 835.49 4,088.78
2016-06-30 890.00 870.46 3,810.38
2016-03-31 890.00 870.46 3,810.38
2015-12-31 918.12 718.84 3,452.88
2015-09-30 918.12 718.84 3,452.88
2015-06-30 922.28 944.06 2,569.86
2015-03-31 922.28 944.06 2,569.86
2014-12-31 868.46 742.65 2,670.78
2014-09-30 868.46 742.65 2,670.78
2014-06-30 869.42 861.38 2,702.12
2014-03-31 869.42 861.38 2,702.12
2013-12-31 888.74 719.57 2,368.94
2013-06-30 905.86 771.10 1,701.36
2013-03-31 905.86 771.10 1,701.36
2012-12-31 888.83 940.08 1,953.36
2012-09-30 888.83 940.08 1,953.36
2012-06-30 899.36 980.37 1,401.38
  • VP Bank's level of debt (95.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (81.2% vs 95.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on VP Bank's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess VP Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VP Bank has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3VFN Dividends

 What is VP Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.78%
Current annual income from VP Bank dividends. Estimated to be 4.58% next year.
If you bought €2,000 of VP Bank shares you are expected to receive €76 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VP Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • VP Bank's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
Upcoming dividend payment

Purchase VP Bank before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:3VFN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:3VFN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 7.04 3.00
2020-12-31 6.72 3.00
2019-12-31 6.26 3.00
DB:3VFN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-05 5.500 3.998
2018-03-06 5.500 3.436
2017-04-28 4.500 3.495
2015-03-03 3.000 3.589
2014-03-19 3.500 4.323
2013-03-12 2.500 3.044
2013-01-15 2.500 3.339
2012-02-29 1.500 2.092
2011-03-04 3.500 3.696
2010-01-04 3.500 3.059
2009-04-24 2.500 2.306

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of VP Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess VP Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VP Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VP Bank has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3VFN Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Urs Monstein
AGE 56
TENURE AS CEO 0.3 years
CEO Bio

Dr. Urs Monstein has been Chief Operating Officer Since May 1, 2018 and Member of Executive Board of VP Bank AG since June 1, 2018. Dr. Monstein is Chief Executive Officer since 2019 and served as its Interim Chief Executive Officer of VP Bank AG since January 31, 2019 until 2019. Dr. Monstein spent the past ten years working for Bank Julius Baer & Co and held the position of Global Head IT / Chief Information Officer. Prior to this he was Chief Operating Officer and a member of the Board of Management at Bank Ehinger & Armand von Ernst in Zurich and also worked for UBS and Union Bank of Switzerland. He is Vice Chairman of Supervisory Board at Bank Julius Bär Deutschland AG. He has a doctorate in law (Dr. iur.) as well as a degree in economics (lic. oec.) from St. Gallen University.

CEO Compensation
  • Insufficient data for Urs to compare compensation growth.
  • Insufficient data for Urs to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the VP Bank management team in years:

1.7
Average Tenure
53
Average Age
  • The average tenure for the VP Bank management team is less than 2 years, this suggests a new team.
Management Team

Urs Monstein

TITLE
CEO, COO & Member of Executive Board
AGE
56
TENURE
0.3 yrs

Siegbert Näscher

TITLE
CFO, Deputy CEO & Member of Executive Board
AGE
53
TENURE
7 yrs

Monika Vicandi

TITLE
General Counsel
AGE
51
TENURE
2.3 yrs

Christoph Mauchle

TITLE
Head of Client Business & Member of Executive Board
AGE
57
TENURE
6.3 yrs

Felix Brill

TITLE
Chief Investment Officer & Member of Executive Board
AGE
39
TENURE
1.1 yrs

Stefan Schwitter

TITLE
Head of Group Investment Center
TENURE
2.9 yrs

Markus Reinacher

TITLE
Head of Group Compliance

Rudolf Seuhs

TITLE
Head of Corporate Communications

Cécile Bachmann

TITLE
Head of Group Communications & Marketing
TENURE
0.3 yrs

Dominique Christen

TITLE
Head of Group Human Resources
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the VP Bank board of directors in years:

4.5
Average Tenure
56
Average Age
  • The tenure for the VP Bank board of directors is about average.
Board of Directors

Fredy Vogt

TITLE
Chairman of the Board
COMPENSATION
CHF645K
AGE
60
TENURE
7 yrs

Markus Hilti

TITLE
Vice Chairman of the Board
COMPENSATION
CHF130K
AGE
67
TENURE
3.3 yrs

Thomas Meier

TITLE
Vice Chairman of the Board
COMPENSATION
CHF73K
AGE
56
TENURE
0.1 yrs

Heinz Batliner

TITLE
Chairman Emeritus
TENURE
23.3 yrs

Teodoro Cocca

TITLE
Director
COMPENSATION
CHF130K
AGE
46
TENURE
8 yrs

Michael Riesen

TITLE
Director
COMPENSATION
CHF160K
AGE
56
TENURE
5 yrs

Ursula Lang

TITLE
Director
COMPENSATION
CHF160K
AGE
51
TENURE
3 yrs

Beat Graf

TITLE
Director
COMPENSATION
CHF145K
AGE
54
TENURE
5 yrs

Florian Marxer

TITLE
Director
COMPENSATION
CHF110K
AGE
42
TENURE
4 yrs

Christian Camenzind

TITLE
Director
COMPENSATION
CHF110K
AGE
58
TENURE
3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess VP Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VP Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3VFN News

Simply Wall St News

3VFN Company Info

Description

VP Bank AG provides asset-management and investment-advisory services for private and institutional investors, and financial intermediaries in Liechtenstein and internationally. The company offers private banking services, such as asset management, investment advisory, financing, and wealth planning services; manages funds; lending services; and investment advisory services. It also provides e-banking, securities trading, and payment services. In addition, the company offers financing of residential properties for private clients, execution and settlement services, safekeeping and trustee services, and money-market and interbank services; and grants commercial loans to commercial clients, as well as is involved in foreign exchange dealings on behalf of private clients. Further, it offers advisory and custodian bank services. VP Bank AG was founded in 1956 and is headquartered in Vaduz, Liechtenstein.

Details
Name: VP Bank AG
3VFN
Exchange: DB
Founded: 1956
CHF760,606,930
5,983,481
Website: http://www.vpbank.com
Address: VP Bank AG
Aeulestrasse 6,
Vaduz,
9490,
Liechtenstein
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX VPBN Class A Registered Shares SIX Swiss Exchange CH CHF 11. May 2000
OTCPK VUPP.F Class A Registered Shares Pink Sheets LLC US USD 11. May 2000
DB 3VFN Class A Registered Shares Deutsche Boerse AG DE EUR 11. May 2000
LSE 0RG7 Bearer Shares London Stock Exchange GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
868
VP Bank employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 22:15
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/03/22
Last earnings filing: 2019/03/05
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.