VZ Holding VZN.SW
SwitzerlandFinancial Services · Asset ManagementSIX Swiss Exchange · CHF
190.50 CHF (+22.3%)
2 analysts
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VZ Holding is a Swiss asset manager and financial advisory firm offering financial planning, investment management, and retirement solutions to private and institutional clients.
Listed on SIX Swiss Exchange · Symbol VZN.SW · SWX: VZN · Currency CHF
Key points
from its scores- ✓High-quality business9.5
- ✓Favourable backdrop7.4
- ✓Very solid balance sheet7.1
- ✕Demanding valuation2.3
- !Weak share-price trend5.6
AI analysis
bottom line, main risk, context and newsQuality and growth justify the premium, but the demanding valuation and low dividend limit the potential for short-term revaluation.
VZ Holding shows exceptional quality (operating margin of 45.5% and ROE of 22.6%) and solid growth (revenue +11.8%, earnings +18.1%), but its valuation is demanding (P/E 24.1) and the dividend yield is low (1.5%). The balance sheet is sound and there are no material macro risks affecting its business model.
The main risk is the demanding valuation (P/E 24.1) in a potentially higher interest rate environment, which could compress financial sector multiples. Additionally, regulatory risk in Switzerland, although moderate, is a factor to watch.
Context and risks
VZ Holding is a Swiss asset manager with a high-quality business model (operating margin of 45.5%) and a sound balance sheet. The main contextual risk is regulatory, given that Switzerland presents a moderate governance risk, which may imply stricter scrutiny of the financial sector. There is no material exposure to interest rates, oil, or shipping routes in its business model.
Is VZ Holding stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 125% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 24.1 | 13.7 | +76% |
| EV / EBITDA | 15.8 | 10.1 | +57% |
| Price / book | 5.1 | 1.9 | +174% |
| Price / sales | 9.3 | 3.5 | +168% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.3 out of 10 (median for Financial Services: 5.2).
Average analyst target: 190.50 CHF, +22.3% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 9.5 (sector 8.8), Growth 7.1 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 24.1
- Forward P/E
- 20.0
- EV / EBITDA
- 15.8
- Price / book
- 5.1
- Price / sales
- 9.3
- PEG
- 0.88
- Market cap
- 6.1B CHF
- Enterprise value
- 4.9B CHF
Profitability
- ROE
- 22.6%
- ROA
- 2.3%
- ROIC (approx.)
- 14.1%
- Gross margin
- 64.7%
- Operating margin
- 45.5%
- Net margin
- 38.6%
- Free cash flow
- 596.5M CHF
- FCF yield
- 9.7%
- Cash conversion
- 191%
Solvency
- Total debt
- 941.3M CHF
- Net debt
- −1.2B CHF
- Cash
- 2.1B CHF
- EBITDA
- 312.9M CHF
- Net debt / EBITDA
- −3.83
- Debt / equity
- 77.97
- Current ratio
- 0.35
- Quick ratio
- 0.34
Growth
- Revenue growth
- +11.8%
- Earnings growth
- +18.1%
- EPS (TTM)
- 6.46 CHF
- EPS (forward)
- 7.81 CHF
Dividend
- Dividend yield
- 1.9%
- Payout
- 45.7%
Risk and market
- Beta
- 0.62
- Analyst consensus
- none (2)
- Target price
- 190.50 CHF
- 52-week range
- 139.40 – 182.60
Recent news
All VZN.SW news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about VZ Holding
Is VZ Holding stock cheap or expensive?
On P/E and Price / book, it trades 125% above the Financial Services median on average. Valuation score: 2.3 out of 10 (median for Financial Services: 5.2). Average analyst target: 190.50 CHF, +22.3% versus the price. This is not investment advice.
What score does VZ Holding get on MeridIAn Screener?
It scores 6.5 out of 10, rank 585 of 2,130 (better than 72% of the companies analysed). Its strongest category is Quality / Moat (9.5) and its weakest, Valuation (2.3). Analysis of 08/10/2026.
What is VZ Holding's P/E ratio?
Its P/E is 24.1: the share price equals 24.1 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 20.0.
How much is VZ Holding worth on the stock market?
Its market capitalisation is 6.1B CHF.
Does VZ Holding pay a dividend?
Yes: its dividend yield is 1.89% and it pays out 46% of its earnings.
How has VZ Holding stock performed over the last year?
It has risen 0.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 139.40 and 182.60 CHF. Past performance does not guarantee future results.
What do analysts think of VZ Holding?
2 analysts cover it; their average recommendation is “none” and their average target is 190.50 CHF (+22.3% versus the price). It is an estimate, not market data.