LSE:0QPU

Stock Analysis Report

Executive Summary

Valiant Holding AG operates as a holding company for Valiant Bank AG that provides various banking products and services for retail clients, private clients, self-employed individuals, and small and medium-sized businesses in Switzerland.


Snowflake Analysis

Established dividend payer with adequate balance sheet.


Similar Companies

Share Price & News

How has Valiant Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0QPU's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

0QPU

12.6%

GB Banks

8.6%

GB Market


1 Year Return

3.2%

0QPU

-39.2%

GB Banks

-19.4%

GB Market

Return vs Industry: 0QPU exceeded the UK Banks industry which returned -40.7% over the past year.

Return vs Market: 0QPU exceeded the UK Market which returned -21.5% over the past year.


Shareholder returns

0QPUIndustryMarket
7 Day0%12.6%8.6%
30 Day34.0%-13.1%-3.5%
90 Day17.9%-35.7%-23.0%
1 Year7.5%3.2%-37.0%-39.2%-15.5%-19.4%
3 Yearn/a-34.2%-41.5%-8.8%-19.9%
5 Yearn/a-34.7%-46.5%4.2%-19.0%

Price Volatility Vs. Market

How volatile is Valiant Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Valiant Holding undervalued compared to its fair value and its price relative to the market?

17.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 0QPU (CHF117.4) is trading below our estimate of fair value (CHF141.49)

Significantly Below Fair Value: 0QPU is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 0QPU is poor value based on its PE Ratio (11x) compared to the Banks industry average (5.4x).

PE vs Market: 0QPU is good value based on its PE Ratio (11x) compared to the UK market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: 0QPU is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: 0QPU is overvalued based on its PB Ratio (0.6x) compared to the GB Banks industry average (0.5x).


Next Steps

Future Growth

How is Valiant Holding forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

4.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0QPU's forecast earnings growth (4% per year) is above the savings rate (0.5%).

Earnings vs Market: 0QPU's earnings (4% per year) are forecast to grow slower than the UK market (15.4% per year).

High Growth Earnings: 0QPU's earnings are forecast to grow, but not significantly.

Revenue vs Market: 0QPU's revenue (3.3% per year) is forecast to grow faster than the UK market (2.5% per year).

High Growth Revenue: 0QPU's revenue (3.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0QPU's Return on Equity is forecast to be low in 3 years time (5.1%).


Next Steps

Past Performance

How has Valiant Holding performed over the past 5 years?

3.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0QPU has high quality earnings.

Growing Profit Margin: 0QPU's current net profit margins (29.9%) are lower than last year (29.9%).


Past Earnings Growth Analysis

Earnings Trend: 0QPU's earnings have grown by 3.9% per year over the past 5 years.

Accelerating Growth: 0QPU's earnings growth over the past year (0.6%) is below its 5-year average (3.9% per year).

Earnings vs Industry: 0QPU earnings growth over the past year (0.6%) underperformed the Banks industry 26.6%.


Return on Equity

High ROE: 0QPU's Return on Equity (5.2%) is considered low.


Next Steps

Financial Health

How is Valiant Holding's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: 0QPU's level of assets compared to its equity is moderate.

Allowance for Bad Loans: 0QPU has a low allowance for bad loans.

Low Risk Liabilities: 0QPU's liabilities are made up of primarily low risk sources of funding.

Loan Level: 0QPU has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0QPU has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: 0QPU has an appropriate level of bad loans (0.29%)


Next Steps

Dividend

What is Valiant Holding's current dividend yield, its reliability and sustainability?

5.91%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 0QPU's dividend (5.91%) is higher than the bottom 25% of dividend payers in the UK market (2.49%).

High Dividend: 0QPU's dividend (5.91%) is low compared to the top 25% of dividend payers in the UK market (6.84%).


Stability and Growth of Payments

Stable Dividend: 0QPU's dividends per share have been stable in the past 10 years.

Growing Dividend: 0QPU's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (65.2%), 0QPU's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 0QPU's dividends in 3 years are forecast to be covered by earnings (64.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.0yrs

Average management tenure


CEO

Ewald Burgener (53yo)

0.92

Tenure

CHF825,000

Compensation

Mr. Ewald Burgener has been Chief Executive Officer of Valiant Holding AG since May 17, 2019. Mr. Burgener served as the Chief Financial Officer, Deputy Chief Executive Officer and Head of Finance & Infras ...


CEO Compensation Analysis

Compensation vs Market: Ewald's total compensation ($USD850.30K) is below average for companies of similar size in the UK market ($USD1.85M).

Compensation vs Earnings: Ewald's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ewald Burgener
CEO & Member of Executive Board0.92yrCHF825.00k0.025% CHF332.7k
Stefan Gempeler
Head of Products & Operations and Member of Executive Board13.25yrsCHF655.00k0.012% CHF161.4k
Martin Vogler
Head of Private & Commercial Clients5yrsCHF708.00k0.010% CHF134.5k
Christoph Wille
Head of Customer Services & Channels and Member of Executive Board5.25yrsCHF664.00k0.012% CHF158.6k
Marc Praxmarer
Head of Institutional & Corporate Clients and Member of Executive Boardno dataCHF653.00k0.0059% CHF78.2k
Hanspeter Kaspar
CFO & Member of Executive Board0.50yrno datano data
Joachim Matha
Head of Investor Relationsno datano datano data

5.0yrs

Average Tenure

51yo

Average Age

Experienced Management: 0QPU's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nicole Pauli
Independent Director2.92yrsCHF134.00k0.0049% CHF65.6k
Roland von Büren
Honorary Chairman11.25yrsno datano data
Jürg Bucher
Independent Chairman of the Board7.25yrsCHF500.00k0.045% CHF601.6k
Markus Gygax
Former Chairman0.92yrCHF1.24m0.042% CHF555.9k
Jean-Baptiste Beuret
Independent Director10.92yrsCHF160.00k0.012% CHF156.7k
Franziska von Weissenfluh
Independent Director8.92yrsCHF155.00k0.017% CHF222.5k
Christoph Bühler
Independent Vice-Chairman of the Board2.92yrsCHF219.00k0.0095% CHF126.5k
Barbara Artmann
Independent Director5.92yrsCHF129.00k0.0049% CHF65.5k
Maya Bundt
Independent Director2.92yrsCHF129.00k0.0036% CHF47.6k

5.9yrs

Average Tenure

58yo

Average Age

Experienced Board: 0QPU's board of directors are considered experienced (5.9 years average tenure).


Ownership

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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Valiant Holding AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Valiant Holding AG
  • Ticker: 0QPU
  • Exchange: LSE
  • Founded: 1997
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: CHF1.336b
  • Shares outstanding: 15.79m
  • Website: https://www.valiant.ch

Number of Employees


Location

  • Valiant Holding AG
  • Pilatusstrasse 39
  • Lucerne
  • Lucerne
  • 6003
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VATNSWX (SIX Swiss Exchange)YesBearer SharesCHCHFJul 1997
VATDB (Deutsche Boerse AG)YesBearer SharesDEEURJul 1997
0QPULSE (London Stock Exchange)YesBearer SharesGBCHFJul 1997

Biography

Valiant Holding AG operates as a holding company for Valiant Bank AG that provides various banking products and services for retail clients, private clients, self-employed individuals, and small and medium-sized businesses in Switzerland. The company offers savings accounts; real estate financing; loans for working capital and other basic services for businesses; unsecured and consumer loans; payment transaction services through its mobile banking app; and retirement planning and investment solutions. It operates 91 branch offices in 11 Swiss cantons, as well as 232 ATMs. The company was founded in 1997 and is based in Lucerne, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 00:25
End of Day Share Price2020/04/08 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.