Cembra Money Bank AG

BATS-CHIXE:CMBNZ Stock Report

Market Cap: CHF 2.4b

Cembra Money Bank Valuation

Is CMBNZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CMBNZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CMBNZ (CHF80.65) is trading below our estimate of fair value (CHF95.78)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CMBNZ?

Key metric: As CMBNZ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CMBNZ. This is calculated by dividing CMBNZ's market cap by their current earnings.
What is CMBNZ's PE Ratio?
PE Ratio14.7x
EarningsCHF 161.32m
Market CapCHF 2.37b

Price to Earnings Ratio vs Peers

How does CMBNZ's PE Ratio compare to its peers?

The above table shows the PE ratio for CMBNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.5x
IPF International Personal Finance
5.8x10.3%UK£287.7m
SUS S&U
9x23.5%UK£168.9m
KSPI Kaspi.kz
12.2x17.0%US$22.8b
HAT H&T Group
7.1x6.7%UK£157.4m
CMBNZ Cembra Money Bank
14.7x9.8%CHF 2.4b

Price-To-Earnings vs Peers: CMBNZ is expensive based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (8.6x).

Price to Earnings Ratio vs Industry

How does CMBNZ's PE Ratio compare vs other companies in the European Consumer Finance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies5PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CMBNZ is expensive based on its Price-To-Earnings Ratio (14.7x) compared to the European Consumer Finance industry average (9x).

Price to Earnings Ratio vs Fair Ratio

What is CMBNZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CMBNZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.7x
Fair PE Ratio16.5x

Price-To-Earnings vs Fair Ratio: CMBNZ is good value based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CMBNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 80.65
CHF 75.50
-6.4%
2.0%CHF 77.00CHF 74.00n/a2
Nov ’25CHF 78.70
CHF 75.50
-4.1%
2.0%CHF 77.00CHF 74.00n/a2
Oct ’25CHF 78.05
CHF 75.50
-3.3%
2.0%CHF 77.00CHF 74.00n/a2
Sep ’25CHF 78.50
CHF 75.50
-3.8%
2.0%CHF 77.00CHF 74.00n/a2
Aug ’25CHF 76.93
CHF 75.50
-1.9%
2.0%CHF 77.00CHF 74.00n/a2
Jul ’25CHF 77.33
CHF 73.00
-5.6%
5.5%CHF 77.00CHF 69.00n/a2
Jun ’25CHF 73.05
CHF 73.00
-0.07%
5.5%CHF 77.00CHF 69.00n/a2
May ’25CHF 70.55
CHF 73.00
+3.5%
5.5%CHF 77.00CHF 69.00n/a2
Apr ’25CHF 75.30
CHF 73.00
-3.1%
5.5%CHF 77.00CHF 69.00n/a2
Mar ’25CHF 74.95
CHF 73.00
-2.6%
5.5%CHF 77.00CHF 69.00n/a2
Feb ’25CHF 66.30
CHF 71.50
+7.8%
3.5%CHF 74.00CHF 69.00n/a2
Jan ’25CHF 65.40
CHF 71.50
+9.3%
3.5%CHF 74.00CHF 69.00n/a2
Dec ’24CHF 64.45
CHF 73.00
+13.3%
1.4%CHF 74.00CHF 72.00n/a2
Nov ’24CHF 63.10
CHF 73.00
+15.7%
1.4%CHF 74.00CHF 72.00CHF 78.702
Oct ’24CHF 62.50
CHF 73.00
+16.8%
1.4%CHF 74.00CHF 72.00CHF 78.052
Sep ’24CHF 64.15
CHF 73.00
+13.8%
1.4%CHF 74.00CHF 72.00CHF 78.502
Aug ’24CHF 66.20
CHF 78.67
+18.8%
10.2%CHF 90.00CHF 72.00CHF 76.933
Jul ’24CHF 74.25
CHF 82.00
+10.4%
9.8%CHF 93.00CHF 74.00CHF 77.333
Jun ’24CHF 68.35
CHF 82.00
+20.0%
9.8%CHF 93.00CHF 74.00CHF 73.053
May ’24CHF 71.35
CHF 82.00
+14.9%
9.8%CHF 93.00CHF 74.00CHF 70.553
Apr ’24CHF 71.50
CHF 82.00
+14.7%
9.8%CHF 93.00CHF 74.00CHF 75.303
Mar ’24CHF 76.75
CHF 79.00
+2.9%
12.7%CHF 93.00CHF 70.00CHF 74.953
Feb ’24CHF 80.85
CHF 77.67
-3.9%
13.1%CHF 92.00CHF 70.00CHF 66.303
Jan ’24CHF 77.20
CHF 77.67
+0.6%
13.1%CHF 92.00CHF 70.00CHF 65.403
Dec ’23CHF 72.85
CHF 77.67
+6.6%
13.1%CHF 92.00CHF 70.00CHF 64.453
Nov ’23CHF 72.30
CHF 77.67
+7.4%
13.1%CHF 92.00CHF 70.00CHF 63.103

Analyst Forecast: Target price is lower than the current share price.

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