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Bâloise Holding

DB:BLON
Snowflake Description

Established dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BLON
DB
CHF8B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Bâloise Holding AG, together with its subsidiaries, primarily engages in the insurance and banking businesses. The last earnings update was 113 days ago. More info.


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BLON Share Price and Events
7 Day Returns
0%
DB:BLON
-0.3%
DE Insurance
-1.1%
DE Market
1 Year Returns
23.6%
DB:BLON
19%
DE Insurance
-8.5%
DE Market
BLON Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bâloise Holding (BLON) 0% -0.4% 1.8% 23.6% 57% 68.6%
DE Insurance -0.3% 1.8% 1.6% 19% 62.2% 59.5%
DE Market -1.1% -0.4% -4% -8.5% 8.1% 9.4%
1 Year Return vs Industry and Market
  • BLON outperformed the Insurance industry which returned 19% over the past year.
  • BLON outperformed the Market in Germany which returned -8.5% over the past year.
Price Volatility
BLON
Industry
5yr Volatility vs Market

BLON Value

 Is Bâloise Holding 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 Bâloise Holding 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 Bâloise Holding.

DB:BLON Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= CHF142.69 * 10.7%
CHF15.22
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. CHF142.69
Discount Rate (Cost of Equity) See below 5.9%
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:BLON
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 18%) (41.15%))
0.944
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.944 * 5.96%)
5.86%

Discounted Cash Flow Calculation for DB:BLON using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bâloise Holding 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:BLON Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.7% – 5.86%) * CHF142.69)
CHF6.86
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF6.86 / (5.86% - 0.23%)
CHF121.93
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF142.69 + CHF121.93
CHF264.62
DB:BLON Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BLON represents 0.85542x of SWX:BALN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.85542x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 264.62 x 0.85542
€226.36
Value per share (EUR) From above. €226.36
Current discount Discount to share price of €155.60
= -1 x (€155.60 - €226.36) / €226.36
31.3%

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

Current Discount
Amount off the current price Bâloise Holding is available for.
Intrinsic value
31%
Share price is €155.6 vs Future cash flow value of €226.36
Current Discount Checks
For Bâloise Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bâloise Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bâloise Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Bâloise Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bâloise Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BLON PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF11.14
SWX:BALN Share Price ** SWX (2019-06-28) in CHF CHF181.9
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.31x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

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

** Primary Listing of Bâloise Holding.

DB:BLON PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 181.9 ÷ 11.14

16.33x

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

  • Bâloise Holding is overvalued based on earnings compared to the DE Insurance industry average.
  • Bâloise Holding is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Bâloise Holding's expected growth come at a high price?
Raw Data
DB:BLON PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
9.6%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.08x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.33x ÷ 9.6%

1.71x

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

  • Bâloise Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bâloise Holding's assets?
Raw Data
DB:BLON PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF128.17
SWX:BALN Share Price * SWX (2019-06-28) in CHF CHF181.9
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.73x
DB:BLON PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 181.9 ÷ 128.17

1.42x

* Primary Listing of Bâloise Holding.

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

  • Bâloise Holding is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Bâloise Holding'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. Bâloise Holding has a total score of 2/6, 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.

BLON Future Performance

 How is Bâloise Holding expected to perform in the next 1 to 3 years based on estimates from 6 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
9.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bâloise Holding expected to grow at an attractive rate?
  • Bâloise Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Bâloise Holding's earnings growth is positive but not above the Germany market average.
  • Bâloise Holding's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BLON Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BLON Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 9.6%
DB:BLON Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.1%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*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:BLON Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BLON Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 7,091 701 1
2020-12-31 7,684 663 3
2019-12-31 7,509 650 3
DB:BLON Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 7,054 1,133 523
2018-09-30 7,817 684 521
2018-06-30 8,580 234 519
2018-03-31 8,907 402 533
2017-12-31 9,234 569 548
2017-09-30 9,190 617 579
2017-06-30 9,147 665 610
2017-03-31 8,940 689 573
2016-12-31 8,733 714 535
2016-09-30 8,461 860 511
2016-06-30 8,190 1,006 487
2016-03-31 8,446 668 500

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bâloise Holding's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • Bâloise Holding's revenue is expected to grow by 2.1% 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:BLON Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Bâloise Holding Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BLON Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 15.21 16.63 13.44 3.00
2020-12-31 14.09 15.35 12.96 4.00
2019-12-31 13.73 15.53 12.62 4.00
DB:BLON Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 11.14
2018-09-30 11.04
2018-06-30 10.95
2018-03-31 11.23
2017-12-31 11.50
2017-09-30 12.23
2017-06-30 12.97
2017-03-31 12.25
2016-12-31 11.53
2016-09-30 11.01
2016-06-30 10.48
2016-03-31 10.72

*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.
  • Bâloise Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bâloise Holding'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.
Bâloise Holding has a total score of 1/6, 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.

BLON Past Performance

  How has Bâloise Holding 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 Bâloise Holding's growth in the last year to its industry (Insurance).
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.
  • Bâloise Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Bâloise Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bâloise Holding's 1-year earnings growth is negative, it can't be compared to the DE Insurance industry average.
Earnings and Revenue History
Bâloise Holding'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 Bâloise Holding Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BLON 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 7,053.60 523.20 810.80
2018-09-30 7,816.60 520.95 800.00
2018-06-30 8,579.60 518.70 789.20
2018-03-31 8,906.65 533.35 777.50
2017-12-31 9,233.70 548.00 765.80
2017-09-30 9,190.10 579.10 762.60
2017-06-30 9,146.50 610.20 759.40
2017-03-31 8,939.95 572.50 761.65
2016-12-31 8,733.40 534.80 763.90
2016-09-30 8,461.45 510.90 768.55
2016-06-30 8,189.50 487.00 773.20
2016-03-31 8,445.60 499.55 767.25
2015-12-31 8,701.70 512.10 761.30
2015-09-30 9,161.65 560.80 779.55
2015-06-30 9,621.60 609.50 797.80
2015-03-31 9,883.35 660.10 832.15
2014-12-31 10,145.10 710.70 866.50
2014-09-30 10,170.35 634.20 887.35
2014-06-30 10,195.60 557.70 908.20
2014-03-31 9,895.15 505.15 902.65
2013-12-31 9,594.70 452.60 897.10
2013-09-30 9,555.95 479.30 899.15
2013-06-30 9,517.20 506.00 901.20
2013-03-31 9,402.15 492.75 900.60
2012-12-31 9,287.10 479.50 900.00
2012-09-30 8,654.60 255.90 880.15

*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.
  • Bâloise Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bâloise Holding used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • It is difficult to establish if Bâloise Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Bâloise Holding'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 Insurance 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.
Bâloise Holding has a total score of 0/6, 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.

BLON Health

 How is Bâloise Holding'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 Bâloise Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bâloise Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bâloise Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Bâloise Holding'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 5.5x 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 Bâloise Holding Company Filings, last reported 6 months ago.

DB:BLON Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,008.20 3,486.70 16,618.20
2018-09-30 6,008.20 3,486.70 16,618.20
2018-06-30 6,153.30 1,743.70 16,948.80
2018-03-31 6,153.30 1,743.70 16,948.80
2017-12-31 6,409.20 4,319.40 17,191.30
2017-09-30 6,409.20 4,319.40 17,191.30
2017-06-30 5,892.00 1,470.90 15,370.10
2017-03-31 5,892.00 1,470.90 15,370.10
2016-12-31 5,773.70 3,864.00 15,028.70
2016-09-30 5,773.70 3,864.00 15,028.70
2016-06-30 5,435.50 1,710.50 14,125.10
2016-03-31 5,435.50 1,710.50 14,125.10
2015-12-31 5,453.60 4,709.70 14,016.50
2015-09-30 5,453.60 4,709.70 14,016.50
2015-06-30 5,196.90 1,705.00 12,976.40
2015-03-31 5,196.90 1,705.00 12,976.40
2014-12-31 5,831.00 3,673.10 13,805.60
2014-09-30 5,831.00 3,673.10 13,805.60
2014-06-30 5,295.90 1,700.30 12,522.20
2014-03-31 5,295.90 1,700.30 12,522.20
2013-12-31 4,906.40 3,678.00 12,148.80
2013-09-30 4,906.40 3,678.00 12,148.80
2013-06-30 4,555.40 1,695.00 11,029.50
2013-03-31 4,555.40 1,695.00 11,029.50
2012-12-31 4,641.30 4,181.10 11,236.80
2012-09-30 4,872.80 4,181.00 10,995.00
  • Bâloise Holding's level of debt (58%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (76.4% vs 58% today).
  • Debt is well covered by operating cash flow (32.5%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Bâloise Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Bâloise Holding'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. Bâloise Holding has a total score of 3/6, 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.

BLON Dividends

 What is Bâloise Holding'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
3.3%
Current annual income from Bâloise Holding dividends. Estimated to be 3.76% next year.
If you bought €2,000 of Bâloise Holding shares you are expected to receive €66 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?
  • Bâloise Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.49%).
  • Bâloise Holding's dividend is below the markets top 25% of dividend payers in Germany (3.92%).
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:BLON 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 6 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:BLON Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 7.30 5.00
2020-12-31 6.89 7.00
2019-12-31 6.47 7.00
DB:BLON Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-28 6.000 3.499
2018-03-27 5.600 3.745
2018-01-15 5.600 3.753
2017-04-28 5.200 3.426
2016-03-22 5.000 4.105
2015-03-20 5.000 4.134
2014-04-24 4.750 4.053
2013-03-14 4.500 4.419
2013-01-15 4.500 5.377
2012-03-15 4.500 6.370
2012-01-16 4.500 6.309
2011-04-29 4.500 6.212
2010-03-01 4.500 5.065
2009-03-13 4.500 5.198
2008-08-27 4.500 6.485

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Bâloise Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Bâloise Holding'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 Bâloise Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bâloise Holding 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.

BLON Management

 What is the CEO of Bâloise Holding'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
Gert Winter
COMPENSATION CHF2,094,959
AGE 53
TENURE AS CEO 3.5 years
CEO Bio

Mr. Gert De Winter, M.Sc., has been Group Chief Executive Officer of Bâloise Holding AG since January 1, 2016. He studied applied economics at the University of Antwerp. From 1988 to 2004 he performed various roles at Accenture in Brussels for issues relating to IT and business transformation management in the financial sector. He was made a Partner at the firm in the year 2000. In 2005 he joined the Baloise Group as Chief Information Officer (CIO) and Head of HR of the Mercator insurance company in Belgium. He serves as Group Chief Executive Officer at Baloise Belgium nv. From 2009 to 2015 he was Chief Executive Officer of Baloise Insurance. He has been a Member of the Management Board of the Basel Chamber of Commerce Since June 2016.

CEO Compensation
  • Gert's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Gert's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Bâloise Holding management team in years:

2.2
Average Tenure
49.5
Average Age
  • The tenure for the Bâloise Holding management team is about average.
Management Team

Gert Winter

TITLE
Group Chief Executive Officer
COMPENSATION
CHF2M
AGE
53
TENURE
3.5 yrs

Carsten Stolz

TITLE
Head of Finance & CFO
COMPENSATION
CHF1M
AGE
51
TENURE
2.2 yrs

Thomas Sieber

TITLE
Head of the Corporate Division Center Division
COMPENSATION
CHF1M
AGE
54
TENURE
11.6 yrs

Michael Müller

TITLE
Head of Corporate Division Switzerland & CEO of Basler Switzerland
COMPENSATION
CHF2M
AGE
48

Matthias Henny

TITLE
Head of Corporate Division Asset Management
COMPENSATION
CHF1M
AGE
48
TENURE
2.2 yrs

Clemens Markstein

TITLE
Head of Operations & IT

Pierre Girard

TITLE
Head of Group Accounting & Reporting

Marc Kaiser

TITLE
Head of Corporate Communications & Investor Relations

Markus Holtz

TITLE
Head of Investor Relations
AGE
41
TENURE
0.5 yrs

Peter Kalberer

TITLE
Head of Group Compliance
Board of Directors Tenure

Average tenure and age of the Bâloise Holding board of directors in years:

2.8
Average Tenure
60
Average Age
  • The average tenure for the Bâloise Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Andreas Burckhardt

TITLE
Chairman of the Board
COMPENSATION
CHF1M
AGE
68
TENURE
8.3 yrs

Andreas Beerli

TITLE
Vice-Chairman
COMPENSATION
CHF272K
AGE
68
TENURE
1.3 yrs

Thomas Pleines

TITLE
Independent Non-Executive Director
COMPENSATION
CHF255K
AGE
64
TENURE
7.3 yrs

Christoph Gloor

TITLE
Independent Non-Executive Director
COMPENSATION
CHF231K
AGE
53
TENURE
5.3 yrs

Belgian Hugo R. Lasat

TITLE
Independent Non-Executive Director
COMPENSATION
CHF175K
AGE
55
TENURE
3.3 yrs

Marie-Noëlle Venturi - Zen-Ruffinen

TITLE
Independent Non-Executive Director
COMPENSATION
CHF181K
AGE
44
TENURE
3.3 yrs

Thomas von Planta

TITLE
Independent Non-Executive Director
COMPENSATION
CHF214K
AGE
58
TENURE
2.3 yrs

Hans-Jörg Schmidt-Trenz

TITLE
Independent Non-Executive Director
COMPENSATION
CHF117K
AGE
60
TENURE
1.3 yrs

Christoph Mäder

TITLE
Independent Non-Executive Director
AGE
60
TENURE
0.3 yrs

Markus Neuhaus

TITLE
Independent Non-Executive Director
AGE
61
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Bâloise Holding'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. Bâloise Holding 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.

BLON News

Simply Wall St News

BLON Company Info

Description

Bâloise Holding AG, together with its subsidiaries, primarily engages in the insurance and banking businesses. It operates through Non-Life, Life, Banking, and Other Activities segments. The company offers various non-life insurance products, including accident, health, general liability, motor, fire and other property, marine, credit protection, and legal expenses insurance. It also provides life insurance products, which include endowment policies, such as conventional and unit-linked life insurance; group life insurance products; term insurance; immediate and deferred annuities; and policy riders, such as premium waiver, accidental death, and disability. In addition, the company operates Baloise Bank SoBa, a bank in Switzerland; and offers asset management services. Further, it has interests in equity investment companies, real-estate firms, and financing companies. The company sells its products and services to individuals, small and medium sized enterprises, and industrial clients. It operates in Switzerland, Germany, Belgium, Luxembourg, Liechtenstein, Slovakia, and the Czech Republic. Bâloise Holding AG was founded in 1863 and is headquartered in Basel, Switzerland.

Details
Name: Bâloise Holding AG
BLON
Exchange: DB
Founded: 1863
CHF7,687,341,835
46,581,866
Website: http://www.baloise.com
Address: Bâloise Holding AG
Aeschengraben 21,
Basel,
Basel-Stadt, 4002,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX BALN Registered Shares SIX Swiss Exchange CH CHF 01. Jan 1992
OTCPK BLHE.F Registered Shares Pink Sheets LLC US USD 01. Jan 1992
DB BLON Registered Shares Deutsche Boerse AG DE EUR 01. Jan 1992
LSE 0QQ3 Registered Shares London Stock Exchange GB CHF 01. Jan 1992
OTCPK BLHE.Y ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
6,571
Bâloise Holding employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 20:54
End of day share price update: 2019/06/28 00:00
Last estimates confirmation: 2019/07/11
Last earnings filing: 2019/03/28
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.