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Valiant Holding

LSE:0QPU
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0QPU
LSE
CHF2B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

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 last earnings update was 29 days ago. More info.


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0QPU Share Price and Events
7 Day Returns
0.2%
LSE:0QPU
2.3%
GB Banks
1.9%
GB Market
1 Year Returns
-1.6%
LSE:0QPU
-7.8%
GB Banks
2.5%
GB Market
0QPU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Valiant Holding (0QPU) 0.2% -1.3% 0.7% -1.6% - -
GB Banks 2.3% 3.6% 4.4% -7.8% 16.1% -12.3%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • 0QPU outperformed the Banks industry which returned -7.8% over the past year.
  • 0QPU underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0QPU
Industry
5yr Volatility vs Market

0QPU Value

 Is Valiant 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 Valiant 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 Valiant Holding.

LSE:0QPU 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
= CHF150.03 * 5.5%
CHF8.28
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. CHF150.03
Discount Rate (Cost of Equity) See below 12.9%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 LSE:0QPU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 18%) (377.79%))
1.957
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.957 * 5.96%)
12.89%

Discounted Cash Flow Calculation for LSE:0QPU using Excess Returns Model Model

The calculations below outline how an intrinsic value for Valiant 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.

LSE:0QPU Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.5% – 12.89%) * CHF150.03)
CHF-11.06
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-11.06 / (12.89% - 1.23%)
CHF-94.81
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF150.03 + CHF-94.81
CHF55.22
LSE:0QPU Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF55.22
Current discount Discount to share price of CHF114.00
= -1 x (CHF114.00 - CHF55.22) / CHF55.22
-106.4%

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

  • The current share price of Valiant Holding 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 Valiant Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Valiant Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0QPU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CHF CHF7.62
SWX:VATN Share Price ** SWX (2019-04-18) in CHF CHF114
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

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

** Primary Listing of Valiant Holding.

LSE:0QPU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 114 ÷ 7.62

14.96x

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

  • Valiant Holding is overvalued based on earnings compared to the GB Banks industry average.
  • Valiant Holding is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Valiant Holding's expected growth come at a high price?
Raw Data
LSE:0QPU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
2.5%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0QPU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.96x ÷ 2.5%

6.03x

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

  • Valiant Holding is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Valiant Holding's assets?
Raw Data
LSE:0QPU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CHF CHF143.53
SWX:VATN Share Price * SWX (2019-04-18) in CHF CHF114
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
LSE:0QPU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 114 ÷ 143.53

0.79x

* Primary Listing of Valiant Holding.

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

  • Valiant Holding is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Valiant 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 Banks 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 Banks industry average (and greater than 0)? (1 check)
  5. Valiant 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.

0QPU Future Performance

 How is Valiant Holding 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
2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Valiant Holding expected to grow at an attractive rate?
  • Valiant Holding's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Valiant Holding's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Valiant Holding's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0QPU Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0QPU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 2.5%
LSE:0QPU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1.5%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland 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
LSE:0QPU 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.
LSE:0QPU Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 416 124 2
2020-12-31 418 132 3
2019-12-31 404 121 3
LSE:0QPU Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-12-31 402 -583 120
2018-09-30 402 121
2018-06-30 407 127
2018-03-31 391 121
2017-12-31 387 -843 119
2017-09-30 376 120
2017-06-30 368 118
2017-03-31 395 118
2016-12-31 389 172 118
2016-09-30 397 119
2016-06-30 409 118
2016-03-31 387 118

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Valiant Holding's earnings are expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
  • Valiant Holding's revenue is expected to grow by 1.5% 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
LSE:0QPU 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 Valiant Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QPU Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 8.20 8.54 7.85 2.00
2020-12-31 8.08 8.40 7.76 2.00
2019-12-31 7.74 7.86 7.63 2.00
LSE:0QPU Past Financials Data
Date (Data in CHF Millions) EPS *
2018-12-31 7.62
2018-09-30
2018-06-30
2018-03-31
2017-12-31 7.55
2017-09-30
2017-06-30
2017-03-31
2016-12-31 7.46
2016-09-30
2016-06-30
2016-03-31

*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.
  • Valiant Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Valiant 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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Valiant 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.

0QPU Past Performance

  How has Valiant 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 Valiant Holding's growth in the last year to its industry (Banks).
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.
  • Valiant Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Valiant Holding's 1-year earnings growth is less than its 5-year average (0.9% vs 8.9%)
  • Valiant Holding's earnings growth has not exceeded the GB Banks industry average in the past year (0.9% vs 42.2%).
Earnings and Revenue History
Valiant 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 Valiant Holding Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QPU Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 401.78 120.33 163.17
2018-09-30 402.44 120.61 165.12
2018-06-30 407.20 126.78 163.32
2018-03-31 390.82 121.38 161.19
2017-12-31 387.38 119.20 158.97
2017-09-30 376.34 119.92 148.44
2017-06-30 368.29 118.02 144.68
2017-03-31 395.48 117.93 188.80
2016-12-31 389.27 117.51 157.61
2016-09-30 397.43 118.71 247.85
2016-06-30 409.21 117.53 259.06
2016-03-31 386.94 117.70 220.05
2015-12-31 381.42 114.38 245.90
2015-09-30 350.21 107.83 224.11
2015-06-30 349.42 100.79 250.92
2015-03-31 353.29 97.05 241.71
2014-12-31 359.56 94.51 251.62
2014-09-30 342.33 76.75 283.92
2014-06-30 331.89 68.29 298.03
2014-03-31 340.23 76.25 295.50
2013-12-31 358.50 91.44 273.58
2013-09-30 372.74 110.29 271.42
2013-06-30 386.97 129.15 269.27
2013-03-31 381.19 128.06 269.00
2012-12-31 375.41 126.97 268.73
2012-09-30 386.97 125.91 277.18
2012-06-30 398.53 124.86 285.62

*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.
  • Valiant Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Valiant Holding used its assets less efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Valiant Holding 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 Valiant 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 Banks 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.
Valiant Holding 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.

0QPU Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Valiant 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.
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 Valiant Holding Company Filings, last reported 3 months ago.

LSE:0QPU Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,266.68 6,801.57 1,980.73
2018-09-30 2,231.54 7,179.70 2,598.94
2018-06-30 2,206.11 7,144.68 2,629.60
2018-03-31 2,226.79 6,880.87 2,429.42
2017-12-31 2,202.58 6,660.63 2,585.53
2017-09-30 2,157.35 6,348.29 2,227.81
2017-06-30 2,119.87 6,182.10 2,080.80
2017-03-31 2,149.90 6,049.14 1,919.78
2016-12-31 2,127.73 5,905.84 2,167.94
2016-09-30 2,091.60 5,636.82 2.91
2016-06-30 2,060.77 5,636.21 6.31
2016-03-31 2,074.81 5,826.05 7.16
2015-12-31 2,051.46 5,598.78 1,745.22
2015-09-30 2,014.13 5,735.15 13.32
2015-06-30 1,985.60 5,728.09 16.13
2015-03-31 2,005.33 5,752.28 17.09
2014-12-31 1,986.04 5,803.66 1,547.74
2014-09-30
2014-06-30 1,933.50 6,248.28 1,263.43
2014-03-31 1,939.70 6,545.17 1,062.02
2013-12-31 1,939.70 6,545.17 1,062.02
2013-09-30 1,939.70 6,545.17 1,062.02
2013-06-30 1,912.91 6,439.37 1,238.32
2013-03-31 1,912.91 6,439.37 1,238.32
2012-12-31 1,897.64 6,572.70 1,091.13
2012-09-30 1,897.64 6,572.70 1,091.13
2012-06-30 1,844.04 6,397.67 902.62
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Valiant Holding has an acceptable proportion of non-loan assets held.
  • Valiant Holding's liabilities are made up of primarily low risk sources of funding.
  • Valiant Holding has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Valiant Holding's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Valiant Holding has a low allowance for bad loans.
  • Valiant Holding has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Valiant 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. Valiant Holding has a total score of 4/6, 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.

0QPU Dividends

 What is Valiant 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
3.86%
Current annual income from Valiant Holding dividends. Estimated to be 4.69% next year.
If you bought CHF2,000 of Valiant Holding shares you are expected to receive CHF77 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?
  • Valiant Holding's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Valiant Holding's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase Valiant Holding 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
LSE:0QPU 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
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

LSE:0QPU Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 5.85 2.00
2020-12-31 5.47 3.00
2019-12-31 4.90 3.00
LSE:0QPU Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-21 4.400 3.836
2018-03-27 4.000 3.606
2018-02-14 4.000 3.483
2017-05-18 3.800 3.518
2016-03-29 3.600 3.584
2015-03-18 3.200 3.201
2015-01-15 3.200 4.069
2014-03-17 3.200 3.702
2014-01-15 3.200 3.621
2013-04-22 3.200 3.792
2012-04-12 3.200 3.508
2011-03-31 3.200 2.713
2010-04-01 3.200 1.928
2009-04-20 3.100 1.535

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 Valiant Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Valiant Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Valiant Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Valiant 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.

0QPU Management

 What is the CEO of Valiant 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
Markus Gygax
COMPENSATION CHF1,242,000
AGE 56
TENURE AS CEO 5.4 years
CEO Bio

Mr. Markus Gygax has been the Chief Executive Officer of Valiant Bank AG and Valiant Holding AG since November 30, 2013 and serves as its Member of Executive Board. Mr. Gygax served as a Member of the Executive Board and Head of Retail Banking Division at Banque Cantonale Vaudoise from October 1, 2008 to November 15, 2013. After working at Zurich Cantonal Bank from 1978 to 1986, Mr. Gygax moved to the Swiss Banking Corporation and then Helsana, where he was in charge of retail products and distribution for private clients. He joined Postfinancein 2002 as a member of Executive Management and head of Distribution. He was responsible for all systemsand distribution channels targeting both businesses and individuals throughout Switzerland. He served as the Chief of the Air Force Operations Staff and Deputy Commander of Swiss Air Force. He serves as Vice Chairman of Societe Anonyme Suisse Pour Le Services De La Navigation Aerienne Civil Militair. He served as Vice Chairman of Skyguide SA and served as its Director since 2003. He has been a Director of Societe Anonyme Suisse Pour Le Services De La Navigation Aerienne Civil Militair since 2003. Mr. Gygax completed MBA in FSI from University of St. Gallen in 2004.

CEO Compensation
  • Markus's compensation has been consistent with company performance over the past year.
  • Markus's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

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

5.4
Average Tenure
50
Average Age
  • The average tenure for the Valiant Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Markus Gygax

TITLE
CEO & Member of Management Board
COMPENSATION
CHF1M
AGE
56
TENURE
5.4 yrs

Ewald Burgener

TITLE
CFO, Deputy CEO
COMPENSATION
CHF825K
AGE
52
TENURE
6.1 yrs

Stefan Gempeler

TITLE
Head of Product & Operations and Member of Management Board
COMPENSATION
CHF655K
AGE
45
TENURE
12.3 yrs

Martin Vogler

TITLE
Head of Corporate & Investment Advisory Client and Member of Management Board
COMPENSATION
CHF708K
AGE
48
TENURE
4 yrs

Christoph Wille

TITLE
Head of Sales Channels & Member of Management Board
COMPENSATION
CHF664K
AGE
47
TENURE
4.3 yrs

Marc Praxmarer

TITLE
Head of Corporate & Investment Advisory Clients and Member of Management Board
COMPENSATION
CHF653K
AGE
55

Joachim Matha

TITLE
Head of Investor Relations
Board of Directors Tenure

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

4.9
Average Tenure
57
Average Age
  • The tenure for the Valiant Holding board of directors is about average.
Board of Directors

Jürg Bucher

TITLE
Chairman of the Board
COMPENSATION
CHF500K
AGE
71
TENURE
6.3 yrs

Christoph Bühler

TITLE
Vice Chairman of the Board
COMPENSATION
CHF219K
AGE
48
TENURE
1.9 yrs

Roland von Büren

TITLE
Honorary Chairman
AGE
74
TENURE
10.3 yrs

Franziska von Weissenfluh

TITLE
Director
COMPENSATION
CHF155K
AGE
58
TENURE
7.9 yrs

Jean-Baptiste Beuret

TITLE
Director
COMPENSATION
CHF160K
AGE
62
TENURE
9.9 yrs

Barbara Artmann

TITLE
Director
COMPENSATION
CHF129K
AGE
57
TENURE
4.9 yrs

Othmar Stöckli

TITLE
Director
COMPENSATION
CHF155K
AGE
49
TENURE
2.9 yrs

Maya Bundt

TITLE
Director
COMPENSATION
CHF129K
AGE
47
TENURE
1.9 yrs

Nicole Pauli

TITLE
Director
COMPENSATION
CHF134K
AGE
46
TENURE
1.9 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 (CHF) Value (CHF)
X
Management checks
We assess Valiant 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. Valiant 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.

0QPU News

Simply Wall St News

0QPU Company Info

Description

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. As of December 31, 2017, it operated 91 branch offices in 11 Swiss cantons, as well as 227 ATMs. The company was founded in 1997 and is based in Lucerne, Switzerland.

Details
Name: Valiant Holding AG
0QPU
Exchange: LSE
Founded: 1997
CHF1,800,340,554
15,792,461
Website: http://www.valiant.ch
Address: Valiant Holding AG
Pilatusstrasse,
Lucerne,
Lucerne, 6003,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX VATN Bearer Shares SIX Swiss Exchange CH CHF 03. Jul 1997
DB VAT Bearer Shares Deutsche Boerse AG DE EUR 03. Jul 1997
LSE 0QPU Bearer Shares London Stock Exchange GB CHF 03. Jul 1997
Number of employees
Current staff
Staff numbers
825
Valiant Holding employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:51
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/21
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.