OTCPK:JBAX.Y

Stock Analysis Report

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Executive Summary

Julius Bär Gruppe AG provides private banking products and services to private clients worldwide.

Rewards

Trading at 17.1% below our estimate of its fair value

Earnings are forecast to grow 3.76% per year

Pays a reliable dividend of 3.68%

Risk Analysis

No risks detected for JBAX.Y from our risk checks.


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Julius Bär Gruppe's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: JBAX.Y has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.6%

JBAX.Y

-0.04%

US Capital Markets

2.5%

US Market


1 Year Return

9.1%

JBAX.Y

5.8%

US Capital Markets

15.9%

US Market

Return vs Industry: JBAX.Y exceeded the US Capital Markets industry which returned 4.6% over the past year.

Return vs Market: JBAX.Y underperformed the US Market which returned 14.9% over the past year.


Shareholder returns

JBAX.YIndustryMarket
7 Day-3.6%-0.04%2.5%
30 Day4.8%2.7%5.8%
90 Day19.2%14.5%18.2%
1 Year10.5%9.1%8.0%5.8%18.4%15.9%
3 Year-16.9%-22.1%21.2%13.9%39.9%30.9%
5 Year-9.4%-19.0%54.0%39.2%72.9%54.2%

Price Volatility Vs. Market

How volatile is Julius Bär Gruppe's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Julius Bär Gruppe undervalued compared to its fair value and its price relative to the market?

17.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: JBAX.Y ($8.76) is trading below our estimate of fair value ($10.57)

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


Price To Earnings Ratio

PE vs Industry: JBAX.Y is good value based on its PE Ratio (14.4x) compared to the US Capital Markets industry average (27.5x).

PE vs Market: JBAX.Y is good value based on its PE Ratio (14.4x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: JBAX.Y is poor value based on its PEG Ratio (3.8x)


Price to Book Ratio

PB vs Industry: JBAX.Y is good value based on its PB Ratio (1.4x) compared to the US Capital Markets industry average (9x).


Next Steps

Future Growth

How is Julius Bär Gruppe forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JBAX.Y's forecast earnings growth (3.8% per year) is above the savings rate (2.2%).

Earnings vs Market: JBAX.Y's earnings (3.8% per year) are forecast to grow slower than the US market (22.3% per year).

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

Revenue vs Market: JBAX.Y's revenue (0.7% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: JBAX.Y's revenue (0.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: JBAX.Y's Return on Equity is forecast to be low in 3 years time (12.4%).


Next Steps

Past Performance

How has Julius Bär Gruppe performed over the past 5 years?

14.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: JBAX.Y has high quality earnings.

Growing Profit Margin: JBAX.Y's current net profit margins (17.3%) are lower than last year (19.3%).


Past Earnings Growth Analysis

Earnings Trend: JBAX.Y's earnings have grown by 14.2% per year over the past 5 years.

Accelerating Growth: JBAX.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: JBAX.Y had negative earnings growth (-3.3%) over the past year, making it difficult to compare to the Capital Markets industry average (16.6%).


Return on Equity

High ROE: JBAX.Y's Return on Equity (9.7%) is considered low.


Next Steps

Financial Health

How is Julius Bär Gruppe'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: JBAX.Y's Assets to Equity ratio (17.1x) is moderate.

Allowance for Bad Loans: JBAX.Y has a low allowance for bad loans (63%).

Low Risk Liabilities: 76% of JBAX.Y's liabilities are made up of primarily low risk sources of funding.

Loan Level: JBAX.Y has an appropriate level of Loans to Assets ratio (43%).

Low Risk Deposits: JBAX.Y's Loans to Deposits ratio (61%) is appropriate.

Level of Bad Loans: JBAX.Y has an appropriate level of bad loans (0.3%).


Next Steps

Dividend

What is Julius Bär Gruppe current dividend yield, its reliability and sustainability?

3.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: JBAX.Y's dividend (3.68%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: JBAX.Y's dividend (3.68%) is low compared to the top 25% of dividend payers in the US market (4.51%).


Stability and Growth of Payments

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

Growing Dividend: JBAX.Y's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.8%), JBAX.Y's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: JBAX.Y's dividends in 3 years are forecast to be covered by earnings (67% payout ratio).


Next Steps

Management

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

2.0yrs

Average management tenure


CEO

Philipp Rickenbacher (49 yo)

0.92

Tenure

CHF9,001,000

Compensation

Mr. Philipp Rickenbacher serves as Chief Executive Officer and Member of the Executive Board at Julius Bär Gruppe AG since September 1, 2019 and was its Head Intermediaries & Global Custody until August 31 ...


CEO Compensation Analysis

Compensation vs Market: Philipp's total compensation ($USD9.88M) is about average for companies of similar size in the US market ($USD11.35M).

Compensation vs Earnings: Insufficient data to compare Philipp's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Philipp Rickenbacher
CEO & Member of Executive Board0.92yrCHF9.00m0.011%
CHF 1.0m
Dieter Enkelmann
CFO & Member of Executive Board10.83yrsno data0.048%
CHF 4.6m
Christoph Hiestand
Group General Counsel & Member of Executive Board10.83yrsno data0.014%
CHF 1.3m
Nic Dreckmann
COO, Head of Intermediaries & Member of Executive Board3.58yrsno data0.014%
CHF 1.3m
Larissa Rubner
Chief Communications Officer & Member of Executive Board3.08yrsno data0.00056%
CHF 53.9k
Oliver Bartholet
Chief Risk Officer & Member of Executive Board2.42yrsno data0.0068%
CHF 653.1k
Kong Lee
Member of the Executive Board & Head of Asia Pacificno datano datano data
Yves Robert-Charrue
Head of Switzerland0.58yrno datano data
Yves Bonzon
Chief Investment Officer & Member of Executive Boardno datano datano data
Nicolas de Skowronski
Head of Wealth Management Solutions & Member of Executive Board0.58yrno datano data
Luigi Vignola
Head of Markets & Member of Executive Board1.58yrsno datano data
Thomas Falk
Member of Executive Board0.67yrno datano data

2.0yrs

Average Tenure

50yo

Average Age

Experienced Management: JBAX.Y's management team is considered experienced (2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Claire Giraut
Independent Director10.33yrsCHF272.00k0.012%
CHF 1.2m
Charles Thoroton Stonehill
Independent Vice Chairman of the Board3.58yrsCHF330.00k0.0099%
CHF 948.4k
Christian Meissner
Independent Director0.33yrno datano data
Raymond Baer
Honorary Chairman8.33yrsCHF5.00kno data
Gilbert Achermann
Independent Director8.33yrsCHF287.00k0.0077%
CHF 739.7k
Romeo Lacher
Independent Non-Executive Chairman1.33yrsCHF946.00kno data
Olga Zoutendijk
Independent Director1.33yrsCHF280.00kno data
Ivo Furrer
Independent Director3.33yrsCHF325.00k0.0030%
CHF 288.6k
Heinrich Baumann
Independent Director9.33yrsCHF320.00k0.010%
CHF 996.5k
Richard Campbell-Breeden
Independent Director2.33yrsCHF371.00k0.0024%
CHF 234.7k
Eunice Zehnder-Lai
Independent Director1.33yrsCHF238.00kno data

3.3yrs

Average Tenure

60yo

Average Age

Experienced Board: JBAX.Y's board of directors are considered experienced (3.3 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

Julius Bär Gruppe AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Julius Bär Gruppe AG
  • Ticker: JBAX.Y
  • Exchange: OTCPK
  • Founded: 1890
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: CHF8.765b
  • Listing Market Cap: CHF9.619b
  • Shares outstanding: 215.10m
  • Website: https://www.juliusbaer.com

Number of Employees


Location

  • Julius Bär Gruppe AG
  • Bahnhofstrasse 36
  • Zurich
  • Zurich
  • 8010
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BAERSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFOct 2009
JGEDB (Deutsche Boerse AG)YesRegistered SharesDEEUROct 2009
JBAR.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDOct 2009
0QO6LSE (London Stock Exchange)YesRegistered SharesGBCHFOct 2009
BAER NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNOct 2009
JBAX.YOTCPK (Pink Sheets LLC)UNSP ADR EACH REP 0.2 ORD SHSUSUSDNov 2009
JGE1DB (Deutsche Boerse AG)UNSP ADR EACH REP 0.2 ORD SHSDEEURNov 2009
BAERESWX (SIX Swiss Exchange)CHF0.02 (2ND BUY BACK LINE)CHCHFMay 2011

Biography

Julius Bär Gruppe AG provides private banking products and services to private clients worldwide. Its wealth management solutions include discretionary mandates, investment advisory mandates, securities ex ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/03 23:47
End of Day Share Price2020/08/03 00:00
Earnings2020/06/30
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.