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Leonteq

SWX:LEON
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LEON
SWX
CHF705M
Market Cap
  1. Home
  2. CH
  3. Diversified Financials
Company description

Leonteq AG provides structured investment products and long-term savings and retirement solutions in Switzerland. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • Leonteq has significant price volatility in the past 3 months.
LEON Share Price and Events
7 Day Returns
5.5%
SWX:LEON
12.2%
CH Capital Markets
3.6%
CH Market
1 Year Returns
2.5%
SWX:LEON
-23.1%
CH Capital Markets
-6.9%
CH Market
LEON Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Leonteq (LEON) 5.5% -13.1% 15.3% 2.5% -7.5% -77.8%
CH Capital Markets 12.2% -21.2% -29.3% -23.1% -39.5% -54.1%
CH Market 3.6% -12.1% -16.3% -6.9% 0.5% -2.9%
1 Year Return vs Industry and Market
  • LEON outperformed the Capital Markets industry which returned -23.1% over the past year.
  • LEON outperformed the Market in Switzerland which returned -6.9% over the past year.
Price Volatility
LEON
Industry
5yr Volatility vs Market

LEON Value

 Is Leonteq undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Leonteq to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Leonteq.

SWX:LEON Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= CHF42.59 * 11.4%
CHF4.84
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. CHF42.59
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year CH Government Bond Rate -0.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SWX:LEON
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CH Govt Bond Rate -0.6%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.752 (1 + (1- 18%) (1016.53%))
5.032
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (2 * 5.44%)
10.33%

Discounted Cash Flow Calculation for SWX:LEON using Excess Returns Model Model

The calculations below outline how an intrinsic value for Leonteq is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SWX:LEON Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.4% – 10.33%) * CHF42.59)
CHF0.44
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF0.44 / (10.33% - -0.55%)
CHF4.07
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF42.59 + CHF4.07
CHF46.65
SWX:LEON Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF46.65
Current discount Discount to share price of CHF37.88
= -1 x (CHF37.88 - CHF46.65) / CHF46.65
18.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Leonteq is available for.
Intrinsic value
19%
Share price is CHF37.88 vs Future cash flow value of CHF46.65
Current Discount Checks
For Leonteq to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Leonteq's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Leonteq's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Leonteq's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Leonteq's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:LEON PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CHF CHF3.35
SWX:LEON Share Price ** SWX (2020-03-27) in CHF CHF37.88
Switzerland Capital Markets Industry PE Ratio Median Figure of 13 Publicly-Listed Capital Markets Companies 17.41x
Switzerland Market PE Ratio Median Figure of 175 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Leonteq.

SWX:LEON PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:LEON Share Price ÷ EPS (both in CHF)

= 37.88 ÷ 3.35

11.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Leonteq is good value based on earnings compared to the CH Capital Markets industry average.
  • Leonteq is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Leonteq's expected growth come at a high price?
Raw Data
SWX:LEON PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
9.3%per year
Switzerland Capital Markets Industry PEG Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 1.24x
Switzerland Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 1.66x

*Line of best fit is calculated by linear regression .

SWX:LEON PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.31x ÷ 9.3%

1.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Leonteq is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Leonteq's assets?
Raw Data
SWX:LEON PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CHF CHF35.58
SWX:LEON Share Price * SWX (2020-03-27) in CHF CHF37.88
Switzerland Capital Markets Industry PB Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 0.94x
Switzerland Market PB Ratio Median Figure of 215 Publicly-Listed Companies 1.35x
SWX:LEON PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:LEON Share Price ÷ Book Value per Share (both in CHF)

= 37.88 ÷ 35.58

1.06x

* Primary Listing of Leonteq.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Leonteq is overvalued based on assets compared to the CH Capital Markets industry average.
X
Value checks
We assess Leonteq's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Leonteq has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LEON Future Performance

 How is Leonteq expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Leonteq expected to grow at an attractive rate?
  • Leonteq's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • Leonteq's earnings growth is expected to exceed the Switzerland market average.
  • Leonteq's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:LEON Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:LEON Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 9.3%
SWX:LEON Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 5.9%
Switzerland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6%
Switzerland Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Switzerland Market Earnings Growth Rate Market Cap Weighted Average 8.5%
Switzerland Market Revenue Growth Rate Market Cap Weighted Average 2.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SWX:LEON Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:LEON Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31 319 94 1
2022-12-31 310 115 84 3
2021-12-31 299 33 72 4
2020-12-31 271 -21 69 3
2020-03-29
SWX:LEON Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-12-31 258 242 63
2019-09-30 265 168 72
2019-06-30 272 88 82
2019-03-31 278 -68 87
2018-12-31 284 -218 91
2018-09-30 269 -228 77
2018-06-30 253 -237 62
2018-03-31 235 -26 43
2017-12-31 216 185 23
2017-09-30 203 196 2
2017-06-30 190 208 -19
2017-03-31 201 45 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Leonteq's earnings are expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
  • Leonteq's revenue is expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SWX:LEON Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Leonteq Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:LEON Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 4.96 4.96 4.96 1.00
2022-12-31 4.44 4.55 4.33 2.00
2021-12-31 3.79 5.12 1.94 4.00
2020-12-31 2.54 3.66 0.40 3.00
2020-03-29
SWX:LEON Past Financials Data
Date (Data in CHF Millions) EPS *
2019-12-31 3.35
2019-09-30 3.88
2019-06-30 4.42
2019-03-31 4.89
2018-12-31 5.40
2018-09-30 4.70
2018-06-30 3.95
2018-03-31 2.71
2017-12-31 1.47
2017-09-30 0.14
2017-06-30 -1.20
2017-03-31 -0.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Leonteq is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Leonteq's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Switzerland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Switzerland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Leonteq has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LEON Past Performance

  How has Leonteq performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Leonteq's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Leonteq's year on year earnings growth rate has been positive over the past 5 years.
  • Leonteq's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Leonteq's 1-year earnings growth is negative, it can't be compared to the CH Capital Markets industry average.
Earnings and Revenue History
Leonteq's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Leonteq Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:LEON Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 257.51 62.73 116.95
2019-09-30 264.99 72.17 115.40
2019-06-30 272.48 81.61 113.85
2019-03-31 278.36 86.55 114.77
2018-12-31 284.25 91.49 115.70
2018-09-30 268.64 76.76 116.73
2018-06-30 253.03 62.03 117.76
2018-03-31 234.60 42.55 115.71
2017-12-31 216.17 23.07 113.66
2017-09-30 203.05 2.12 116.33
2017-06-30 189.93 -18.82 119.00
2017-03-31 200.52 -0.81 115.30
2016-12-31 211.10 17.20 111.61
2016-09-30 220.33 42.04 103.61
2016-06-30 229.57 66.89 95.61
2016-03-31 224.99 67.76 94.96
2015-12-31 220.42 68.64 94.31
2015-09-30 222.47 71.65 95.03
2015-06-30 224.51 74.67 95.75
2015-03-31 212.84 68.62 90.67
2014-12-31 201.16 62.58 85.60
2014-09-30 183.36 53.36 78.25
2014-06-30 165.55 44.15 70.90
2014-03-31 163.92 41.49 69.99
2013-12-31 162.29 38.83 69.07
2013-09-30 156.45 35.66 67.36
2013-06-30 150.61 32.50 65.65
2013-03-31 139.43 26.52 62.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Leonteq has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Leonteq used its assets more efficiently than the CH Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Leonteq improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Leonteq's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Leonteq has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LEON Health

 How is Leonteq's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Leonteq's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Leonteq is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Leonteq's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Leonteq's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Leonteq Company Filings, last reported 2 months ago.

SWX:LEON Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 662.51 7,111.09 5,641.14
2019-09-30 662.51 7,111.09 5,641.14
2019-06-30 631.16 7,709.14 7,690.60
2019-03-31 631.16 7,709.14 7,690.60
2018-12-31 607.66 8,165.16 6,211.02
2018-09-30 607.66 8,165.16 6,211.02
2018-06-30 435.06 7,033.47 6,616.43
2018-03-31 435.06 7,033.47 6,616.43
2017-12-31 418.39 5,515.40 3,036.34
2017-09-30 418.39 5,515.40 3,036.34
2017-06-30 388.08 5,019.29 4,317.13
2017-03-31 388.08 5,019.29 4,317.13
2016-12-31 385.28 4,650.81 3,020.98
2016-09-30 385.28 4,650.81 3,020.98
2016-06-30 399.65 5,704.25 5,858.75
2016-03-31 399.65 5,704.25 5,858.75
2015-12-31 416.06 5,422.33 3,999.54
2015-09-30 416.06 5,422.33 3,999.54
2015-06-30 386.49 5,240.27 4,952.64
2015-03-31 386.49 5,240.27 4,952.64
2014-12-31 376.41 6,098.67 3,908.63
2014-09-30 376.41 6,098.67 3,908.63
2014-06-30 169.82 4,402.21 5,139.27
2014-03-31 169.82 4,402.21 5,139.27
2013-12-31 158.06 4,275.90 2,157.69
2013-09-30 158.06 4,275.90 2,157.69
2013-06-30 140.67 2,966.21 3,411.03
2013-03-31 140.67 2,966.21 3,411.03
  • Leonteq's level of debt (1073.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (1617.2% vs 1073.4% today).
  • Debt is not well covered by operating cash flow (3.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Leonteq's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Leonteq's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Leonteq has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LEON Dividends

 What is Leonteq's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.32%
Current annual income from Leonteq dividends. Estimated to be 4.02% next year.
If you bought CHF2,000 of Leonteq shares you are expected to receive CHF26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Leonteq's pays a lower dividend yield than the bottom 25% of dividend payers in Switzerland (2.16%).
  • Leonteq's dividend is below the markets top 25% of dividend payers in Switzerland (4.34%).
Upcoming dividend payment

Purchase Leonteq before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SWX:LEON Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Switzerland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.6%
Switzerland Market Average Dividend Yield Market Cap Weighted Average of 159 Stocks 3.4%
Switzerland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Switzerland Bottom 25% Dividend Yield 25th Percentile 2.2%
Switzerland Top 25% Dividend Yield 75th Percentile 4.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SWX:LEON Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 3.50 1.00
2022-12-31 2.71 2.00
2021-12-31 0.96 3.00
2020-12-31 0.64 3.00
2020-03-29
SWX:LEON Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2020-02-13 0.500 1.197
2017-07-20 0.000 0.000
2017-02-09 0.000 0.000
2016-02-04 1.750 3.004
2015-02-26 1.500 0.899
2014-03-19 1.000 1.019
2014-02-27 1.000 1.247
2013-03-20 0.500 1.357
2013-02-21 0.500 1.985

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Leonteq has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Leonteq has only been paying a dividend for 7 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Leonteq's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (6.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Leonteq's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Leonteq afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Leonteq has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LEON Management

 What is the CEO of Leonteq's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lukas Ruflin
COMPENSATION CHF1,955,000
AGE 44
TENURE AS CEO 1.8 years
CEO Bio

Mr. Lukas Ruflin has been Chief Executive Officer at Leonteq AG & Leonteq Securities AG since May 01, 2018. He has been an Adviser of EFG International AG since December 31, 2012. Mr. Ruflin served as Chief Executive Officer of EFG Bank Switzerland since 2010. He served as Chief Executive Officer of EFG Bank AG. He served as Deputy Chief Executive Officer of EFG International Group from July 2009 to December 31, 2012. He served as Deputy Chief Financial Officer of EFG International AG from June 2009 to December 31, 2012. He served as a member of the management of EFG Bank since 2004. He joined EFG Bank in 2004. Mr. Ruflin served at Lehman Brothers’ Swiss Investment Banking Division in Zurich from 2000 to 2004, at JP Morgan Investment Banking Division in Zurich and London from 1999 to 2000 and at Pricewaterhouse Corporate Finance and Management Consulting Services Divisions in Zurich and Moscow from 1995 to 1999. He was one of EFG Financial Products’ Founding Partners in 2007 and was responsible for setting up and managing the issuing operations in Guernsey as General Manager of EFG Financial Products (Guernsey) Limited from 2007 to 2009. He had been Vice Chairman of Leonteq Securities AG and has been its Director from 2009 till 2018. He was the Vice-Chairman of Leonteq AG until March 23, 2018. He was a Director at Leonteq AG (formerly, EFG Financial Products AG) from 2009 until March 23, 2018. He serves as a Director of EFG Investment (Canada) Ltd. and EFG Wealth Management Cayman Ltd. In addition, he also served as a Director of EFG Investment (Luxembourg) S.A., Luxembourg, from 2007 to 2010. Mr. Ruflin holds a Master’s Degree in Economics from the University of St. Gallen and a CEMS Master’s Degree in international management from the University of St. Gallen.

CEO Compensation
  • Lukas's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Lukas's remuneration is higher than average for companies of similar size in Switzerland.
Management Team Tenure

Average tenure and age of the Leonteq management team in years:

2.4
Average Tenure
42.5
Average Age
  • The tenure for the Leonteq management team is about average.
Management Team

Lukas Ruflin

TITLE
Chief Executive Officer
COMPENSATION
CHF2M
AGE
44
TENURE
1.8 yrs

Sandro Dorigo

TITLE
Co-founder
AGE
41

Marco Amato

TITLE
Deputy CEO & CFO
AGE
38
TENURE
2.4 yrs

Manish Patnaik

TITLE
Chief Operating Officer
AGE
46
TENURE
6 yrs

David Schmid

TITLE
Head of Investment Solutions
COMPENSATION
CHF2M
AGE
37
TENURE
3.2 yrs

Ingrid Silveri

TITLE
General Counsel
AGE
43
TENURE
2.4 yrs

Jochen Kühn

TITLE
Head of Insurance & Wealth Planning Solutions
COMPENSATION
CHF3M
AGE
42
TENURE
3.2 yrs

Reto Quadroni

TITLE
Chief Risk Officer
AGE
56
TENURE
2.4 yrs

Christian Gmuer

TITLE
Head of Sales for Asia
TENURE
0.3 yrs

Dennis Wan

TITLE
CEO of Hong Kong & Head of Hong Kong Sales
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Leonteq board of directors in years:

2.3
Average Tenure
57.5
Average Age
  • The average tenure for the Leonteq board of directors is less than 3 years, this suggests a new board.
Board of Directors

Chris Chambers

TITLE
Independent Chairman
COMPENSATION
CHF394K
AGE
58
TENURE
2.3 yrs

Hans Isler

TITLE
Independent Vice Chairman of the Board
COMPENSATION
CHF252K
AGE
66
TENURE
2.2 yrs

Jörg Behrens

TITLE
Independent Director
COMPENSATION
CHF202K
AGE
55
TENURE
7.5 yrs

Rich Laxer

TITLE
Independent Director
COMPENSATION
CHF202K
AGE
58
TENURE
2 yrs

Patrick de Figueiredo

TITLE
Director
COMPENSATION
CHF157K
AGE
69
TENURE
10.2 yrs

Thomas Meier

TITLE
Independent Director
COMPENSATION
CHF160K
AGE
57
TENURE
2.3 yrs

Susana Smith

TITLE
Independent Director
COMPENSATION
CHF161K
AGE
46
TENURE
1 yrs

Dominik Schärer

TITLE
Director
COMPENSATION
CHF85K
AGE
54
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Leonteq's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Leonteq has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LEON News

Simply Wall St News

A Spotlight On Leonteq AG's (VTX:LEON) Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … LEON's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … SWX:LEON Income Statement, August 23rd 2019 Next Steps: For Leonteq, I've put together three important aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for LEON’s future growth?

Simply Wall St -

Do You Know What Leonteq AG's (VTX:LEON) P/E Ratio Means?

We'll look at Leonteq AG's (VTX:LEON) P/E ratio and reflect on what it tells us about the company's share price. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Leonteq: P/E of 7.5 = CHF33.12 ÷ CHF4.42 (Based on the trailing twelve months to June 2019.) Is A High P/E Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Does Leonteq's P/E Ratio Compare To Its Peers?

Simply Wall St -

Is Leonteq AG's (VTX:LEON) Stock Available For A Good Price After Accounting For Growth?

However, to be able to properly assess the value of a high-growth stock such as Leonteq, we must incorporate its earnings growth in our valuation. … A PE ratio of 7.32x and expected year-on-year earnings growth of 13% give Leonteq a very low PEG ratio of 0.57x. … This means that, when we account for Leonteq's growth, the stock can be viewed as relatively cheap , based on fundamental analysis.

Simply Wall St -

Is It Too Late To Consider Buying Leonteq AG (VTX:LEON)?

It’s trading around 15.4% above my intrinsic value, which means if you buy Leonteq today, you’d be paying a relatively reasonable price for it. … Will you have enough confidence to invest in the company should the price drop below its fair value? … However, the optimistic prospect is encouraging for the company, which means it’s worth further examining other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.

Simply Wall St -

Leonteq AG (VTX:LEON): What Does The Future Look Like?

In December 2018, Leonteq AG (VTX:LEON) released its latest earnings announcement, which signalled that the business experienced a major tailwind, more than doubling its earnings from the prior year. … Below, I've laid out key growth figures on how market analysts predict Leonteq's earnings growth outlook over the next couple of years and whether the future looks even brighter than the past. … SWX:LEON Past and Future Earnings, June 7th 2019 While it is useful to understand the growth each year relative to today’s value, it may be more insightful to determine the rate at which the earnings are growing every year, on average.

Simply Wall St -

Leonteq AG (VTX:LEON): Is It A Smart Long Term Opportunity?

Looking at Leonteq AG's (VTX:LEON) earnings update in December 2018,. … with earnings expected to grow by -17% in the upcoming year … the higher past 5-year average growth rate of -4.0%

Simply Wall St -

Does Leonteq AG (VTX:LEON) Have A Particularly Volatile Share Price?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

Here's What Leonteq AG's (VTX:LEON) P/E Ratio Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Leonteq has a price to earnings ratio of 6.84, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Those Who Purchased Leonteq (VTX:LEON) Shares Three Years Ago Have A 61% Loss To Show For It

Long term Leonteq AG (VTX:LEON) shareholders know that all too well, since the share price is down considerably over three years. … Unfortunately, they have held through a 61% decline in the share price in that time. … During the unfortunate three years of share price decline, Leonteq actually saw its earnings per share (EPS) improve by 7.8% per year.

Simply Wall St -

Can Leonteq AG (VTX:LEON) Improve Your Portfolio Returns?

If you're interested in Leonteq AG (VTX:LEON), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

LEON Company Info

Description

Leonteq AG provides structured investment products and long-term savings and retirement solutions in Switzerland. It operates in Investment Solutions and Insurance & Wealth Planning Solutions segments. The company manufactures and distributes structured investment products. It also offers savings, investment, and drawdown products; and digital platform that enables unit-linked retail products with financial guarantees, as well as hedging for structured products. The company offers its services to platform partners pursuant to cooperation agreements, as well as distributes its products directly and indirectly to institutional and retail investors through third-party financial intermediaries. The company was formerly known as EFG Financial Products Holding AG and changed its name to Leonteq AG in June 2013. Leonteq AG was founded in 2007 and is headquartered in Zurich, Switzerland.

Details
Name: Leonteq AG
LEON
Exchange: SWX
Founded: 2007
CHF705,406,890
18,622,146
Website: http://ch.leonteq.com
Address: Leonteq AG
Europaallee 39,
Zurich,
Zurich, 8004,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX LEON Registered Shares SIX Swiss Exchange CH CHF 18. Oct 2012
DB EFL Registered Shares Deutsche Boerse AG DE EUR 18. Oct 2012
LSE 0QNE Registered Shares London Stock Exchange GB CHF 18. Oct 2012
Number of employees
Current staff
Staff numbers
508
Leonteq employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 22:41
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/02/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.