Baloise Holding Valuation

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

Below Fair Value: BLHE.Y ($19) is trading below our estimate of fair value ($26.04)

Significantly Below Fair Value: BLHE.Y is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BLHE.Y?

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

The above table shows the Price to Earnings ratio for BLHE.Y. This is calculated by dividing BLHE.Y's market cap by their current earnings.
What is BLHE.Y's PE Ratio?
PE Ratio	29.9x
Earnings	CHF 253.70m
Market Cap	CHF 7.59b

BLHE.Y key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.3x
Enterprise Value/EBITDA	19x
PEG Ratio	1.9x

Price to Earnings Ratio vs Peers

How does BLHE.Y's PE Ratio compare to its peers?

The above table shows the PE ratio for BLHE.Y vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	29x
AIG American International Group	12.5x	37.4%	US$47.4b
HMN Horace Mann Educators	16.2x	23.1%	US$1.7b
FAF First American Financial	76.9x	80.0%	US$7.2b
ORI Old Republic International	10.4x	-6.2%	US$9.8b
BLHE.Y Baloise Holding	29.9x	15.7%	US$7.6b

Price-To-Earnings vs Peers: BLHE.Y is expensive based on its Price-To-Earnings Ratio (29.9x) compared to the peer average (29.1x).

Price to Earnings Ratio vs Industry

How does BLHE.Y's PE Ratio compare vs other companies in the US Insurance Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap
UTGN UTG	2x	n/a	US$89.08m
AORE.F American Overseas Group	2.1x	n/a	US$16.68m
CUII China United Insurance Service	0.0003x	n/a	US$3.13k

No more companies available in this PE range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BLHE.Y is expensive based on its Price-To-Earnings Ratio (29.9x) compared to the US Insurance industry average (14x).

Price to Earnings Ratio vs Fair Ratio

What is BLHE.Y'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.

BLHE.Y PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	29.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BLHE.Y's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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