Swiss Life Holding AG

BATS-CHIXE:SLHNz Stock Report

Market Cap: CHF 20.3b

Swiss Life Holding Valuation

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

Below Fair Value: SLHNz (CHF728.4) is trading below our estimate of fair value (CHF810.66)

Significantly Below Fair Value: SLHNz 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 SLHNz?

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

The above table shows the Price to Earnings ratio for SLHNz. This is calculated by dividing SLHNz's market cap by their current earnings.
What is SLHNz's PE Ratio?
PE Ratio18.8x
EarningsCHF 1.08b
Market CapCHF 20.33b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SLHNz vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average41x
PRU Prudential
25x28.4%UK£17.5b
LGEN Legal & General Group
46.3x28.0%UK£13.0b
JUST Just Group
17.2x8.2%UK£1.5b
CSN Chesnara
75.5x11.8%UK£377.5m
SLHNz Swiss Life Holding
18.8x2.9%CHF 20.3b

Price-To-Earnings vs Peers: SLHNz is good value based on its Price-To-Earnings Ratio (18.8x) compared to the peer average (41x).

Price to Earnings Ratio vs Industry

How does SLHNz's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies12PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SLHNz is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the European Insurance industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is SLHNz'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.

SLHNz PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.8x
Fair PE Ratio13.1x

Price-To-Earnings vs Fair Ratio: SLHNz is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the estimated Fair Price-To-Earnings Ratio (13.1x).

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 SLHNz forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 728.40
CHF 713.09
-2.1%
8.7%CHF 805.00CHF 630.00n/a11
Nov ’25CHF 715.20
CHF 678.64
-5.1%
9.5%CHF 785.00CHF 550.00n/a11
Oct ’25CHF 701.00
CHF 668.50
-4.6%
8.7%CHF 770.00CHF 550.00n/a10
Sep ’25CHF 684.20
CHF 644.75
-5.8%
9.7%CHF 770.00CHF 550.00n/a8
Aug ’25CHF 674.00
CHF 644.75
-4.3%
9.7%CHF 770.00CHF 550.00n/a8
Jul ’25CHF 667.80
CHF 630.13
-5.6%
6.8%CHF 693.00CHF 550.00n/a8
Jun ’25CHF 626.40
CHF 629.88
+0.6%
6.9%CHF 693.00CHF 550.00n/a8
May ’25CHF 621.00
CHF 628.50
+1.2%
6.7%CHF 690.00CHF 550.00n/a8
Apr ’25CHF 633.00
CHF 627.63
-0.8%
6.8%CHF 690.00CHF 550.00n/a8
Mar ’25CHF 644.40
CHF 623.94
-3.2%
6.9%CHF 690.00CHF 550.00n/a8
Feb ’25CHF 613.00
CHF 624.94
+1.9%
6.8%CHF 690.00CHF 550.00n/a9
Jan ’25CHF 583.60
CHF 604.48
+3.6%
5.0%CHF 653.00CHF 550.00n/a9
Dec ’24CHF 567.60
CHF 600.92
+5.9%
5.3%CHF 653.00CHF 550.00n/a9
Nov ’24CHF 583.80
CHF 599.46
+2.7%
8.5%CHF 653.00CHF 476.80CHF 715.209
Oct ’24CHF 571.20
CHF 600.90
+5.2%
8.6%CHF 653.00CHF 476.80CHF 701.009
Sep ’24CHF 556.20
CHF 594.01
+6.8%
8.4%CHF 653.00CHF 476.80CHF 684.209
Aug ’24CHF 553.60
CHF 597.61
+7.9%
8.1%CHF 653.00CHF 476.80CHF 674.0010
Jul ’24CHF 523.00
CHF 593.68
+13.5%
7.9%CHF 633.00CHF 476.80CHF 667.809
Jun ’24CHF 529.20
CHF 593.70
+12.2%
7.9%CHF 633.00CHF 477.00CHF 626.409
May ’24CHF 587.80
CHF 597.21
+1.6%
9.3%CHF 701.00CHF 477.00CHF 621.0010
Apr ’24CHF 563.00
CHF 589.01
+4.6%
7.5%CHF 630.00CHF 477.00CHF 633.0010
Mar ’24CHF 585.00
CHF 561.35
-4.0%
8.3%CHF 624.00CHF 477.00CHF 644.409
Feb ’24CHF 539.40
CHF 554.68
+2.8%
8.1%CHF 624.00CHF 477.00CHF 613.009
Jan ’24CHF 477.50
CHF 552.80
+15.8%
8.1%CHF 624.00CHF 477.00CHF 583.609
Dec ’23CHF 511.00
CHF 552.77
+8.2%
8.1%CHF 624.00CHF 476.80CHF 567.609
Nov ’23CHF 481.20
CHF 556.88
+15.7%
9.0%CHF 650.00CHF 476.80CHF 583.809

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

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