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Vontobel Holding

SWX:VONN
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VONN
SWX
CHF3B
Market Cap
  1. Home
  2. CH
  3. Diversified Financials
Company description

Vontobel Holding AG provides various financial services to private and institutional clients. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Vontobel Holding has significant price volatility in the past 3 months.
VONN Share Price and Events
7 Day Returns
13.2%
SWX:VONN
12.2%
CH Capital Markets
3.9%
CH Market
1 Year Returns
-16.7%
SWX:VONN
-23.1%
CH Capital Markets
-6.9%
CH Market
VONN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vontobel Holding (VONN) 13.2% -28.3% -34.3% -16.7% -20.5% 7.8%
CH Capital Markets 12.2% -17.7% -29.3% -23.1% -39.5% -54.1%
CH Market 3.9% -9.1% -15.5% -6.9% 0.5% -2.9%
1 Year Return vs Industry and Market
  • VONN outperformed the Capital Markets industry which returned -23.1% over the past year.
  • VONN underperformed the Market in Switzerland which returned -6.9% over the past year.
Price Volatility
VONN
Industry
5yr Volatility vs Market

VONN Value

 Is Vontobel Holding 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 Vontobel Holding 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 Vontobel Holding.

SWX:VONN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CHF29.95 * 14.1%
CHF4.21
Book Value of Equity per Share Median Book Value from the past 5 years. CHF29.95
Discount Rate (Cost of Equity) See below 5.9%
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:VONN
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))
= 0.751 (1 + (1- 18%) (83.91%))
1.18
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.55% + (1.18 * 5.44%)
5.87%

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

The calculations below outline how an intrinsic value for Vontobel Holding 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:VONN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.1% – 5.87%) * CHF29.95)
CHF2.46
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF2.46 / (5.87% - -0.55%)
CHF38.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF29.95 + CHF38.26
CHF68.21
SWX:VONN Discount to Share Price
Calculation Result
Value per share (CHF) From above. CHF68.21
Current discount Discount to share price of CHF45.42
= -1 x (CHF45.42 - CHF68.21) / CHF68.21
33.4%

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

Current Discount
Amount off the current price Vontobel Holding is available for.
Intrinsic value
33%
Share price is CHF45.42 vs Future cash flow value of CHF68.21
Current Discount Checks
For Vontobel Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vontobel Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vontobel Holding'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 Vontobel Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vontobel Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SWX:VONN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CHF CHF4.49
SWX:VONN Share Price ** SWX (2020-03-30) in CHF CHF45.42
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 Vontobel Holding.

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

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

= 45.42 ÷ 4.49

10.12x

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

  • Vontobel Holding is good value based on earnings compared to the CH Capital Markets industry average.
  • Vontobel Holding is good value based on earnings compared to the Switzerland market.
Price based on expected Growth
Does Vontobel Holding's expected growth come at a high price?
Raw Data
SWX:VONN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-0.3%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 1.68x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.12x ÷ -0.3%

-35.34x

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

  • Vontobel Holding earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vontobel Holding's assets?
Raw Data
SWX:VONN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CHF CHF32.71
SWX:VONN Share Price * SWX (2020-03-30) in CHF CHF45.42
Switzerland Capital Markets Industry PB Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 0.94x
Switzerland Market PB Ratio Median Figure of 216 Publicly-Listed Companies 1.35x
SWX:VONN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 45.42 ÷ 32.71

1.39x

* Primary Listing of Vontobel Holding.

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

  • Vontobel Holding is overvalued based on assets compared to the CH Capital Markets industry average.
X
Value checks
We assess Vontobel Holding'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. Vontobel Holding has a total score of 3/6, 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.

VONN Future Performance

 How is Vontobel Holding expected to perform in the next 1 to 3 years based on estimates from 2 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
-0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vontobel Holding expected to grow at an attractive rate?
  • Vontobel Holding's earnings growth is expected to exceed the low risk savings rate of -0.6%.
Growth vs Market Checks
  • Vontobel Holding's earnings are expected to decrease over the next 1-3 years, this is below the Switzerland market average.
  • Vontobel Holding's revenue growth is expected to exceed the Switzerland market average.
Annual Growth Rates Comparison
Raw Data
SWX:VONN Future Growth Rates Data Sources
Data Point Source Value (per year)
SWX:VONN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -0.3%
SWX:VONN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 3.1%
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 8.6%
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:VONN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SWX:VONN Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,389 257 2
2021-12-31 1,326 235 2
2020-12-31 1,293 261 2
2020-03-30
SWX:VONN Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-12-31 1,262 -1,033 251
2019-09-30 1,231 -977 234
2019-06-30 1,200 -922 218
2019-03-31 1,179 -604 219
2018-12-31 1,158 -287 221
2018-09-30 1,142 -701 226
2018-06-30 1,126 -1,115 231
2018-03-31 1,093 -808 217
2017-12-31 1,060 -501 202
2017-09-30 1,072 380 229
2017-06-30 1,084 1,261 255
2017-03-31 1,071 1,427 258

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vontobel Holding's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Vontobel Holding's revenue is expected to grow by 3.1% 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:VONN 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 2 Analyst Estimates (S&P Global) See Below

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

SWX:VONN Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 4.53 4.53 4.53 1.00
2021-12-31 4.14 4.14 4.14 1.00
2020-12-31 4.60 4.60 4.60 1.00
2020-03-30
SWX:VONN Past Financials Data
Date (Data in CHF Millions) EPS *
2019-12-31 4.49
2019-09-30 4.20
2019-06-30 3.90
2019-03-31 3.93
2018-12-31 3.96
2018-09-30 4.06
2018-06-30 4.16
2018-03-31 3.91
2017-12-31 3.65
2017-09-30 4.14
2017-06-30 4.62
2017-03-31 4.67

*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.
  • Vontobel Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vontobel Holding'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.
Vontobel Holding has a total score of 2/6, 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.

VONN Past Performance

  How has Vontobel Holding 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 Vontobel Holding'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.
  • Vontobel Holding's year on year earnings growth rate has been positive over the past 5 years.
  • Vontobel Holding's 1-year earnings growth exceeds its 5-year average (13.7% vs 8.2%)
  • Vontobel Holding's earnings growth has exceeded the CH Capital Markets industry average in the past year (13.7% vs 4.1%).
Earnings and Revenue History
Vontobel Holding'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 Vontobel Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SWX:VONN 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 1,261.90 251.00 952.90
2019-09-30 1,230.80 234.35 946.15
2019-06-30 1,199.70 217.70 939.40
2019-03-31 1,178.75 219.20 912.30
2018-12-31 1,157.80 220.70 885.20
2018-09-30 1,141.85 226.05 854.80
2018-06-30 1,125.90 231.40 824.40
2018-03-31 1,093.00 216.90 811.20
2017-12-31 1,060.10 202.40 798.00
2017-09-30 1,071.90 228.80 782.20
2017-06-30 1,083.70 255.20 766.40
2017-03-31 1,070.90 257.50 750.70
2016-12-31 1,058.10 259.80 735.00
2016-09-30 1,014.20 221.45 737.20
2016-06-30 970.30 183.10 739.40
2016-03-31 977.90 180.15 750.20
2015-12-31 985.50 177.20 761.00
2015-09-30 970.05 167.80 751.50
2015-06-30 953.80 158.40 746.40
2015-03-31 918.25 146.45 728.10
2014-12-31 882.70 134.50 709.80
2014-09-30 856.70 127.10 695.10
2014-06-30 830.70 119.70 680.40
2014-03-31 835.30 121.00 683.40
2013-12-31 839.90 122.30 686.40
2013-09-30 831.50 129.65 671.75
2013-06-30 823.10 137.00 657.10
2013-03-31 794.95 130.55 637.25

*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.
  • Vontobel Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vontobel Holding used its assets more efficiently than the CH Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Vontobel Holding 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 Vontobel Holding'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.
Vontobel Holding has a total score of 4/6, 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.

VONN Health

 How is Vontobel Holding'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 Vontobel Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vontobel Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vontobel Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Vontobel Holding'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 6.3x 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 Vontobel Holding Company Filings, last reported 2 months ago.

SWX:VONN Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,813.30 1,939.40 11,299.40
2019-09-30 1,813.30 1,939.40 11,299.40
2019-06-30 1,731.30 1,952.10 10,886.40
2019-03-31 1,731.30 1,952.10 10,886.40
2018-12-31 1,703.50 2,487.60 11,470.70
2018-09-30 1,703.50 2,487.60 11,470.70
2018-06-30 1,678.80 1,923.00 11,090.80
2018-03-31 1,678.80 1,923.00 11,090.80
2017-12-31 1,620.50 1,946.90 12,154.00
2017-09-30 1,620.50 1,946.90 12,154.00
2017-06-30 1,515.70 1,420.40 10,865.60
2017-03-31 1,515.70 1,420.40 10,865.60
2016-12-31 1,514.10 1,654.40 10,360.40
2016-09-30 1,514.10 1,654.40 10,360.40
2016-06-30 1,410.40 1,101.60 8,556.90
2016-03-31 1,410.40 1,101.60 8,556.90
2015-12-31 1,425.20 1,063.50 8,628.10
2015-09-30 1,425.20 1,063.50 8,628.10
2015-06-30 1,395.80 840.10 7,119.10
2015-03-31 1,395.80 840.10 7,119.10
2014-12-31 1,411.50 948.60 6,255.10
2014-09-30 1,411.50 948.60 6,255.10
2014-06-30 1,620.40 2,173.00 7,743.20
2014-03-31 1,620.40 2,173.00 7,743.20
2013-12-31 1,626.00 1,211.80 7,063.60
2013-09-30 1,626.00 1,211.80 7,063.60
2013-06-30 1,589.30 1,379.00 3,774.40
2013-03-31 1,589.30 1,379.00 3,774.40
  • Vontobel Holding's level of debt (107%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (67.1% vs 107% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Vontobel Holding's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Vontobel Holding'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. Vontobel Holding has a total score of 1/6, 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.

VONN Dividends

 What is Vontobel Holding'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
4.95%
Current annual income from Vontobel Holding dividends. Estimated to be 6.25% next year.
If you bought CHF2,000 of Vontobel Holding shares you are expected to receive CHF99 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?
  • Vontobel Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (2.16%).
  • Vontobel Holding's dividend is above the markets top 25% of dividend payers in Switzerland (4.34%).
Upcoming dividend payment

Purchase Vontobel Holding 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:VONN 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 2 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:VONN Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.14 3.00
2021-12-31 2.87 3.00
2020-12-31 2.59 4.00
2020-03-30
SWX:VONN Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2020-02-12 2.250 4.088
2019-02-12 2.100 3.670
2018-02-13 2.100 3.309
2017-02-08 1.900 3.130
2016-04-20 1.850 3.927
2015-02-11 1.550 3.494
2014-02-07 1.300 3.865
2013-02-06 1.200 3.662
2012-02-16 1.100 4.750
2011-02-23 1.400 5.241
2011-02-10 1.400 3.671
2010-01-04 1.400 4.402

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Vontobel Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (29.1x coverage).
X
Income/ dividend checks
We assess Vontobel Holding'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 Vontobel Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vontobel Holding has a total score of 5/6, see the detailed checks below.


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

VONN Management

 What is the CEO of Vontobel Holding'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
Zeno Staub
COMPENSATION CHF3,988,000
AGE 50
TENURE AS CEO 8.8 years
CEO Bio

Dr. Zeno Markus Staub, Ph.D., serves as the Chief Executive Officer and Member of Executive Management at Bank Vontobel AG. Dr. Staub has been the Chief Executive Officer at Vontobel Holding AG since May 4, 2011 and serves as its Member of Executive Board, Head Platforms & Services and Head Digital Investing. He was previously Member of the Group Executive Management from 2003 to 2011, Head of Asset Management from January 1, 2008 to 2011, Head of Investment Banking August 22, 2006 to December 2007, Chief Financial Officer since 2003, Head of the CFO management support unit, Controlling and IT Project Portfolio from 2001 to 2002 and Chief of Staff since 2001. Previously, he was the Chief Financial Officer at Vontobel Group. Previously, Dr. Staub was the a Managing Partner at almafin AG from 1994 to 2000. He is a Director of the Board of Directors of Vontobel Asset Management, Inc., and was previously the Vice Chairman. Dr. Staub is a Member of the Management Board of Schweizerische Management Gesellschaft and a Member of the Advisory Board of the Society of Investment Professionals. Previously, he was a Member of the Executive Board of BZ Informatik AG in 2000. Dr. Staub is a member of the Swiss Society for Financial Market Research. He has earned a Ph.D. in Economics in 1997 and graduated in 1993 from the University of St. Gallen.

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

Average tenure and age of the Vontobel Holding management team in years:

8.8
Average Tenure
54
Average Age
  • The average tenure for the Vontobel Holding management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Zeno Staub

TITLE
CEO, Head Platforms & Services
COMPENSATION
CHF4M
AGE
50
TENURE
8.8 yrs

Martin Castagnola

TITLE
CFO, Head Finance & Risk and Member of the Executive Board
AGE
54
TENURE
11.3 yrs

Felix Lenhard

TITLE
COO, Head Technology & Services and Member of the Executive Board
AGE
54

Axel Schwarzer

TITLE
Head of Asset Management
AGE
61

Georg Franz Schubiger

TITLE
Head of Wealth Management & Member of the Executive Board
AGE
51

Enrico Friz

TITLE
Head Legal & Compliance
TENURE
0.2 yrs

Michele Schnyder

TITLE
Head of Investor Relations

Peter Dietlmaier

TITLE
Head of Corporate Communications

Patrick Farinato

TITLE
Head of Marketing & Analytics

Caroline Knöri

TITLE
Head Human Resources
Board of Directors Tenure

Average tenure and age of the Vontobel Holding board of directors in years:

4.9
Average Tenure
53.5
Average Age
  • The tenure for the Vontobel Holding board of directors is about average.
Board of Directors

Herbert Scheidt

TITLE
Independent Chairman of the Board
COMPENSATION
CHF3M
AGE
68
TENURE
8.8 yrs

Frank Schnewlin

TITLE
Independent Vice Chairman of the Board
COMPENSATION
CHF249K
AGE
68
TENURE
7.9 yrs

Bruno Basler

TITLE
Independent Director
COMPENSATION
CHF227K
AGE
56
TENURE
14.9 yrs

David Cole

TITLE
Independent Director
COMPENSATION
CHF221K
AGE
58
TENURE
3.9 yrs

Clara-Christina F. Streit

TITLE
Independent Director
COMPENSATION
CHF198K
AGE
51
TENURE
8.8 yrs

Nicolas H. Oltramare

TITLE
Member of Advisory Council
COMPENSATION
CHF52K
AGE
63

Elisabeth Bourqui

TITLE
Non-Executive Independent Member
COMPENSATION
CHF226K
AGE
44
TENURE
4.9 yrs

Maja Baumann

TITLE
Independent Director
COMPENSATION
CHF216K
AGE
42
TENURE
3.9 yrs

Björn Wettergren

TITLE
Non-Independent Director
COMPENSATION
CHF216K
AGE
38
TENURE
3.9 yrs

Stefan Loacker

TITLE
Independent Director
COMPENSATION
CHF204K
AGE
50
TENURE
1.9 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 Vontobel Holding'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. Vontobel Holding 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.

VONN News

Simply Wall St News

Here's Why I Think Vontobel Holding (VTX:VONN) Is An Interesting Stock

In contrast to all that, I prefer to spend time on companies like Vontobel Holding (VTX:VONN), which has not only revenues, but also profits. … Vontobel Holding maintained stable EBIT margins over the last year, all while growing revenue 9.2% to CHF1.2b. … As a result, I'm encouraged by the fact that insiders own Vontobel Holding shares worth a considerable sum.

Simply Wall St -

Should You Buy Vontobel Holding AG (VTX:VONN) For Its Dividend?

It's good to see Vontobel Holding has been growing its earnings per share at 16% a year over the past 5 years. … Conclusion To summarise, shareholders should always check that Vontobel Holding's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. … Companies that are growing earnings tend to be the best dividend stocks over the long term.

Simply Wall St -

Do Institutions Own Shares In Vontobel Holding AG (VTX:VONN)?

With a market capitalization of CHF2.9b, Vontobel Holding is a decent size, so it is probably on the radar of institutional investors. … See our latest analysis for Vontobel Holding SWX:VONN Ownership Summary, June 26th 2019 What Does The Institutional Ownership Tell Us About Vontobel Holding? … Private Company Ownership We can see that Private Companies own 32%, of the shares on issue.

Simply Wall St -

What Should We Expect From Vontobel Holding AG's (VTX:VONN) Earnings Over The Next Year?

In December 2018, Vontobel Holding AG (VTX:VONN) released its earnings update. … Generally, analyst consensus outlook seem in-line with its track record, as upcoming earnings growth is expected to be 13% next year, similar to the range of average earnings growth for the past five years of 14% per year. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line.

Simply Wall St -

What Do Analysts Think About Vontobel Holding AG's (VTX:VONN) Earnings Trend?

Vontobel Holding AG's (VTX:VONN) announced its latest earnings update in December 2018, which suggested that the business experienced a small tailwind, leading to a single-digit earnings growth of 9.0%. … Today I want to provide a brief commentary on how market analysts view Vontobel Holding's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for Vontobel Holding Market analysts' prospects for next year seems positive, with earnings climbing by a robust 13%.

Simply Wall St -

Should Vontobel Holding (VTX:VONN) Be Disappointed With Their 81% Profit?

For example, the Vontobel Holding AG (VTX:VONN) share price is up 81% in the last 5 years, clearly besting than the market return of around 8.3% (ignoring dividends). … During five years of share price growth, Vontobel Holding achieved compound earnings per share (EPS) growth of 16% per year. … We note that for Vontobel Holding the TSR over the last 5 years was 118%, which is better than the share price return mentioned above.

Simply Wall St -

Is Vontobel Holding AG (VTX:VONN) A Volatile Stock?

If you're interested in Vontobel Holding AG (VTX:VONN), 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 can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Should You Be Adding Vontobel Holding (VTX:VONN) To Your Watchlist Today?

One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … Not all of Vontobel Holding's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. … While we note Vontobel Holding's EBIT margins were flat over the last year, revenue grew by a solid 9.2% to CHF1.2b.

Simply Wall St -

At CHF53.85, Is It Time To Put Vontobel Holding AG (VTX:VONN) On Your Watch List?

saw significant share price movement during recent months on the SWX, rising to highs of CHF58.3 and falling to the lows of CHF49.76. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether Vontobel Holding's current trading price of CHF53.85 reflective of the actual value of the?

Simply Wall St -

Does Vontobel Holding AG's (VTX:VONN) CEO Salary Compare Well With Others?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Zeno Staub's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Vontobel Holding AG has a market cap of CHF2.9b, and is paying total annual CEO compensation of CHF3.7m.

Simply Wall St -

VONN Company Info

Description

Vontobel Holding AG provides various financial services to private and institutional clients. The company operates through Wealth Management, Asset Management, and Investment Banking segments. The Wealth Management segment offers portfolio management services for private clients; investment advisory services; custodian services; financial advisory services relating to legal, inheritance, and tax matters; collateral and mortgage loans; and pension advisory and wealth consolidation services. The Asset Management segment engages in the asset management activities. This segment distributes its products through wholesale channels and directly to institutional clients, as well as through its cooperation partners. The Investment Banking segment focuses on the derivatives and structured products business, securities and foreign exchange trading, brokerage, corporate finance, and transaction banking services, as well as provides services for external asset managers. It also provides various platforms, such as EAMNet, an integrated and centralized product and services platform that provides trading, and reports to research services; deritrade, a multi-issuer platform that offers designing and issuing bespoke structured products; cosmofunding, a money and capital market platform that provides securitization of classic loan and private placement; and transaction Banking platform, which offers electronic-trading solutions for professionals. In addition, the company provides digital investing services, such as Vontobel Volt, a digital wealth management platform; investerest, a social investing market place that combines and standardizes the entire strategy and investment spectrum; and structured and leverage investment services. Vontobel Holding AG was founded in 1924 and is headquartered in Zurich, Switzerland.

Details
Name: Vontobel Holding AG
VONN
Exchange: SWX
Founded: 1924
CHF2,517,782,893
55,433,353
Website: http://www.vontobel.com
Address: Vontobel Holding AG
Gotthardstrasse 43,
Zurich,
Zurich, 8022,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX VONN Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
DB VTLN Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QKE Registered Shares London Stock Exchange GB CHF 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,885
Vontobel Holding employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:11
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/12
Last earnings filing: 2020/02/12
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.