VZ Holding AG, through its subsidiaries, provides financial services in Switzerland and Germany.
No risks detected for IHJ from our risk checks.
Solid track record established dividend payer.
Share Price & News
How has VZ Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IHJ has not had significant price volatility in the past 3 months.
7 Day Return
DE Capital Markets
1 Year Return
DE Capital Markets
Return vs Industry: IHJ underperformed the German Capital Markets industry which returned 18.1% over the past year.
Return vs Market: IHJ underperformed the German Market which returned 17.1% over the past year.
Price Volatility Vs. Market
How volatile is VZ Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is VZ Holding undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: IHJ (€239.5) is trading above our estimate of fair value (€195.45)
Significantly Below Fair Value: IHJ is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: IHJ is good value based on its PE Ratio (23.5x) compared to the Capital Markets industry average (26x).
PE vs Market: IHJ is poor value based on its PE Ratio (23.5x) compared to the German market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: IHJ is poor value based on its PEG Ratio (2.2x)
Price to Book Ratio
PB vs Industry: IHJ is overvalued based on its PB Ratio (4.5x) compared to the DE Capital Markets industry average (1.8x).
How is VZ Holding forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IHJ's forecast earnings growth (10.6% per year) is above the savings rate (0.2%).
Earnings vs Market: IHJ's earnings (10.6% per year) are forecast to grow slower than the German market (13.2% per year).
High Growth Earnings: IHJ's earnings are forecast to grow, but not significantly.
Revenue vs Market: IHJ's revenue (7.4% per year) is forecast to grow faster than the German market (4.8% per year).
High Growth Revenue: IHJ's revenue (7.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IHJ's Return on Equity is forecast to be low in 3 years time (18.8%).
How has VZ Holding performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IHJ has high quality earnings.
Growing Profit Margin: IHJ's current net profit margins (33.1%) are higher than last year (32.9%).
Past Earnings Growth Analysis
Earnings Trend: IHJ's earnings have grown by 6.9% per year over the past 5 years.
Accelerating Growth: IHJ's earnings growth over the past year (7.5%) exceeds its 5-year average (6.9% per year).
Earnings vs Industry: IHJ earnings growth over the past year (7.5%) exceeded the Capital Markets industry -2.7%.
Return on Equity
High ROE: IHJ's Return on Equity (19.2%) is considered low.
How is VZ Holding'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: IHJ has a low level of unsold assets or inventory.
Debt Coverage by Assets: IHJ's debt is covered by short term assets (assets are 3.7x debt).
Financial Institutions Analysis
Asset Level: IHJ's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if IHJ has a sufficient allowance for bad loans.
Low Risk Liabilities: IHJ reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if IHJ has an acceptable proportion of non-loan assets held.
Low Risk Deposits: IHJ has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if IHJ has an appropriate level of bad loans.
What is VZ Holding's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IHJ's dividend (1.68%) is higher than the bottom 25% of dividend payers in the German market (1.38%).
High Dividend: IHJ's dividend (1.68%) is low compared to the top 25% of dividend payers in the German market (3.53%).
Stability and Growth of Payments
Stable Dividend: IHJ's dividends per share have been stable in the past 10 years.
Growing Dividend: IHJ's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (39.5%), IHJ's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IHJ's dividends in 3 years are forecast to be well covered by earnings (38.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Matthias Reinhart (59yo)
Mr. Matthias Reinhart serves as the Chief Executive Officer of VZ VermoegensZentrum. Mr. Reinhart serves as Chief Executive Officer of VZ Group. Mr. Reinhart has been the Chairman of the Executive Board at ...
CEO Compensation Analysis
Compensation vs Market: Matthias's total compensation ($USD840.31K) is below average for companies of similar size in the German market ($USD1.50M).
Compensation vs Earnings: Matthias's compensation has been consistent with company performance over the past year.
|Chairman of the Executive Board & CEO||no data||CHF832.00k||5.96% CHF126.7m|
|CFO & Member of Executive Board||1.92yrs||no data||0.026% CHF545.0k|
|Member of Executive Board||20.67yrs||no data||0.67% CHF14.3m|
|Member of Executive Board||17.67yrs||no data||0.33% CHF7.0m|
|Member of Executive Board||19.67yrs||no data||0.57% CHF12.2m|
|Member of Executive Board||11.67yrs||no data||0.18% CHF3.8m|
|Member of Executive Board||7.67yrs||no data||0.046% CHF986.4k|
|Member of Executive Board & MD of Asset Management||1yr||no data||0.040% CHF859.8k|
|Head of Investor Relations||no data||no data||no data|
|Head of Media Communications||no data||no data||no data|
Experienced Management: IHJ's management team is seasoned and experienced (11.7 years average tenure).
|Chairman||no data||CHF106.00k||1.25% CHF26.7m|
|Vice-Chairman||no data||CHF63.00k||0.079% CHF1.7m|
Experienced Board: IHJ's board of directors are considered experienced (5.7 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.
VZ Holding AG's company bio, employee growth, exchange listings and data sources
- Name: VZ Holding AG
- Ticker: IHJ
- Exchange: DB
- Founded: 1992
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: CHF2.306b
- Listing Market Cap: CHF2.126b
- Shares outstanding: 7.90m
- Website: https://www.vermoegenszentrum.ch
Number of Employees
- VZ Holding AG
- Beethovenstrasse 24
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|VZN||SWX (SIX Swiss Exchange)||Yes||Registered Shares||CH||CHF||Mar 2007|
|IHJ||DB (Deutsche Boerse AG)||Yes||Registered Shares||DE||EUR||Mar 2007|
|VZHG.F||OTCPK (Pink Sheets LLC)||Yes||Registered Shares||US||USD||Mar 2007|
|0QLH||LSE (London Stock Exchange)||Yes||Registered Shares||GB||CHF||Mar 2007|
VZ Holding AG, through its subsidiaries, provides financial services in Switzerland and Germany. The company offers retirement, investment and asset management, mortgage and real estate, will and inheritance, tax, pension benefits and insurance, and account and deposit services to individuals. It also provides occupational and executive benefit, business insurance, pension funds and foundation, and succession services to corporates. In addition, the company offers financial consulting and wealth management, securities accounts, securities and currency transactions, portfolio advisory and management, and mortgage credits provision and purchasing services, as well as sureties and guarantees for clients. Further, it provides investment research services, as well as consulting and management mandates; mortgage management and transfer services; property and casualty insurance products; and management services of investment foundations, pension funds, and other institutions offering occupational benefit schemes. The company focuses on serving individuals and couples aged 50 or over, who lives in their own homes. It also offers its services through VZ Finanzportal, an online portal, which enables customers to manage their transactions online; and a-la-carte support services. The company was founded in 1992 and is based in Zurich, Switzerland. VZ Holding AG is a subsidiary of Madarex Ltd.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2019/09/25 21:19|
|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.