Swissquote Group Holding Ltd

BATS-CHIXE:SQNZ Stock Report

Market Cap: CHF 5.1b

Swissquote Group Holding Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 SQNZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
CHF 398.43
Fair Value
14.6% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: SQNZ (CHF340.4) is trading below our estimate of fair value (CHF398.43)

Significantly Below Fair Value: SQNZ 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 SQNZ?

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

The above table shows the Price to Earnings ratio for SQNZ. This is calculated by dividing SQNZ's market cap by their current earnings.
What is SQNZ's PE Ratio?
PE Ratio17.4x
EarningsCHF 294.17m
Market CapCHF 5.11b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SQNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.7x
IGG IG Group Holdings
8.8x1.5%UK£3.2b
TCAP TP ICAP Group
10.5x9.3%UK£1.7b
AJB AJ Bell
18.5x8.5%UK£1.6b
PLUS Plus500
9x0.4%UK£1.9b
SQNZ Swissquote Group Holding
17.4x9.1%CHF 5.1b

Price-To-Earnings vs Peers: SQNZ is expensive based on its Price-To-Earnings Ratio (17.4x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

How does SQNZ's PE Ratio compare vs other companies in the GB Capital Markets Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CBA CEIBA Investments
2.8xn/aUS$42.53m
PNIX Phoenix Digital Assets
0.8xn/aUS$22.21m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
SOL Supernova Digital Assets
0.8xn/aUS$2.47m
No. of Companies16PE01224364860+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SQNZ is expensive based on its Price-To-Earnings Ratio (17.4x) compared to the UK Capital Markets industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is SQNZ'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.

SQNZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.4x
Fair PE Ratio15.3x

Price-To-Earnings vs Fair Ratio: SQNZ is expensive based on its Price-To-Earnings Ratio (17.4x) compared to the estimated Fair Price-To-Earnings Ratio (15.3x).

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 SQNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 340.40
CHF 369.00
+8.4%
20.8%CHF 500.00CHF 258.00n/a7
Mar ’26CHF 366.10
CHF 358.33
-2.1%
17.1%CHF 440.00CHF 258.00n/a6
Feb ’26CHF 398.60
CHF 345.71
-13.3%
15.0%CHF 440.00CHF 258.00n/a7
Jan ’26CHF 347.50
CHF 314.67
-9.4%
11.3%CHF 375.00CHF 258.00n/a6
Dec ’25CHF 345.00
CHF 310.50
-10.0%
9.4%CHF 350.00CHF 258.00n/a6
Nov ’25CHF 300.00
CHF 310.50
+3.5%
9.4%CHF 350.00CHF 258.00n/a6
Oct ’25CHF 304.40
CHF 310.50
+2.0%
9.4%CHF 350.00CHF 258.00n/a6
Sep ’25CHF 305.00
CHF 308.60
+1.2%
10.3%CHF 350.00CHF 258.00n/a5
Aug ’25CHF 281.00
CHF 291.25
+3.6%
11.0%CHF 325.00CHF 250.00n/a4
Jul ’25CHF 285.40
CHF 286.00
+0.2%
10.7%CHF 325.00CHF 250.00n/a5
Jun ’25CHF 275.20
CHF 247.00
-10.2%
8.6%CHF 270.00CHF 210.00n/a5
May ’25CHF 250.80
CHF 247.00
-1.5%
8.6%CHF 270.00CHF 210.00n/a5
Apr ’25CHF 254.20
CHF 247.00
-2.8%
8.6%CHF 270.00CHF 210.00CHF 381.005
Mar ’25CHF 240.50
CHF 241.00
+0.2%
7.5%CHF 265.00CHF 210.00CHF 366.105
Feb ’25CHF 217.60
CHF 236.40
+8.6%
8.6%CHF 265.00CHF 210.00CHF 398.605
Jan ’25CHF 204.80
CHF 231.40
+13.0%
8.4%CHF 265.00CHF 210.00CHF 347.505
Dec ’24CHF 200.20
CHF 223.00
+11.4%
5.0%CHF 240.00CHF 210.00CHF 345.004
Nov ’24CHF 175.20
CHF 223.00
+27.3%
5.0%CHF 240.00CHF 210.00CHF 300.004
Oct ’24CHF 167.20
CHF 225.00
+34.6%
5.4%CHF 240.00CHF 210.00CHF 304.403
Sep ’24CHF 175.30
CHF 225.00
+28.4%
5.4%CHF 240.00CHF 210.00CHF 305.003
Aug ’24CHF 197.70
CHF 218.13
+10.3%
8.9%CHF 245.00CHF 192.50CHF 281.004
Jul ’24CHF 186.30
CHF 218.13
+17.1%
8.9%CHF 245.00CHF 192.50CHF 285.404
Jun ’24CHF 186.20
CHF 217.50
+16.8%
11.1%CHF 250.00CHF 192.50CHF 275.203
May ’24CHF 190.20
CHF 217.50
+14.4%
11.1%CHF 250.00CHF 192.50CHF 250.803
Apr ’24CHF 178.50
CHF 200.83
+12.5%
3.6%CHF 210.00CHF 192.50CHF 254.203
AnalystConsensusTarget
Consensus Narrative from 7 Analysts
CHF 367.27
Fair Value
7.3% undervalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/04 02:31
End of Day Share Price 2025/04/04 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Swissquote Group Holding Ltd is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Markus MayerBaader Helvea Equity Research
Grégoire HermannBerenberg
Christoph GreulichBerenberg