Swiss Life Holding AG (SLHN) Fair Value & Analysis
Financial Services · CH · Market cap CHF 26.1B · ISIN CH0014852781
What is Swiss Life Holding AG really worth?
A solid business, but trading 121% above our fair value of CHF 425.23.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 6 valuation models · updated 4 days ago
Share price −0.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (CHF 531.54). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range CHF 344.74 – CHF 957.80 · fair‑value band CHF 318.92 – CHF 531.54 · the CHF 938.40 price screens above the CHF 425.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Swiss Life Holding AG (SLHN) currently trades at CHF 938.40, while our model-based Fair Value estimate is CHF 425.23, implying the stock looks roughly 120.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of CHF 368.51 per share, and 0 of the 6 models we run sit above the CHF 938.40 price. Bear case: the Asset-Based group reads lowest at CHF 169.31, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Swiss Life Holding AG generated revenue of CHF 11.7B at a net margin of 10.5%. Revenue grew 1.1% year over year. It earns a return on equity of 16.6%. Net debt stands at CHF 9.0B. Fundamentals as of Sep 1, 2026
Our scenario range runs from CHF 318.92 (bear case) to CHF 531.54 (bull case); at CHF 938.40, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −55%, SLHN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly CHF 4.76 per share, which is 1.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Dividend Discount (CHF 368.51) versus Asset-Based (CHF 169.31). Highest evidence: Residual Income (71).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 75
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Swiss Life Holding AG provides life, pensions, and financial solutions for private and corporate clients. It operates through Switzerland, France, Germany, International, Asset Managers, and Other segments. The company offers a various life, pension, health, annuity, and investment-type policies to groups and individuals, as well as disability coverage.
Full company description
Swiss Life Holding AG provides life, pensions, and financial solutions for private and corporate clients. It operates through Switzerland, France, Germany, International, Asset Managers, and Other segments. The company offers a various life, pension, health, annuity, and investment-type policies to groups and individuals, as well as disability coverage. It also provides property and casualty, liability and motor, accident, health, and payment protection insurance products. In addition, the company manages assets and provides advisory services. Further, it engages in the private equity, information technology, real estate, finance, banking, reinsurance, brokering, and investment funds businesses. Additionally, the company distributes its products through its sales force and distribution partners. It provides its products under the Swiss Life Select, Tecis, Horbach, Proventus, and Chase de Vere brands. The company also operates in the United Kingdom and Luxembourg. Swiss Life Holding AG was founded in 1857 and is headquartered in Zurich, Switzerland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Swiss Life Holding AG reported revenue of CHF 24.3B in FY2025 versus CHF 21.5B in FY2021, a compound +3.1%/yr. Reported net income was CHF 1.3B in FY2025, compounding +0.2%/yr from FY2021.
of which total revenue −1.7 % · buybacks/dilution +1.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
SLHN screens 121% overvalued. Compare with Berkshire Hathaway Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Swiss Life Holding AG (SWSDF) (Q2 2026) Earnings Call Highlights: Strong Fee Growth and Capital ...
- Swiss Life plans 600 job cuts by end of 2028, H1 profit rises
- Swiss Life Holding AG (SWSDF) Full Year 2025 Earnings Call Highlights: Strong Operational ...
- Investing in Swiss Life Holding (VTX:SLHN) five years ago would have delivered you a 184% gain
Peer Group
Insurance - Diversified · 83 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Berkshire Hathaway Inc BRKB80 | 1.67 THB | 1.48 THB | −11% |
| Allianz SE ALV | €453.00 | €266.04 | −41% |
| Zurich Insurance Group ZURN | CHF 596.00 | CHF 335.07 | −44% |
| AXA SA CS | €43.61 | €39.90 | −9% |
| Assicurazioni Generali S.p.A G | €44.11 | €10.92 | −75% |
| Sun Life Financial Inc SLF | C$108.85 | C$57.05 | −48% |
| American International Group AIG | $76.14 | $80.91 | +6% |
| The Hartford Insurance Group HIG | $137.38 | $133.10 | −3% |
| Arch Capital Group ACGL | $98.76 | $124.45 | +26% |
| Sampo Oyj SAMPO | €9.68 | €6.06 | −37% |
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