Vontobel Holding (VONN) Fair Value & Analysis
Financial Services · CH · Market cap CHF 4.4B · ISIN CH0012335540
What is Vontobel Holding really worth?
A solid business, but trading 214% above our fair value of CHF 28.75.
Strengths
Risks
For context
Fair value as of: Sep 2, 2026
From 2 valuation models · updated 2 days ago
Share price +5.2% 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 35.94). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) 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 2, 2026.
How to read this chart
60‑month range CHF 41.29 – CHF 94.20 · fair‑value band CHF 21.56 – CHF 35.94 · the CHF 90.40 price screens above the CHF 28.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.
Analysis
Vontobel Holding (VONN) currently trades at CHF 90.40, while our model-based Fair Value estimate is CHF 28.75, implying the stock looks roughly 214.5% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Financial Services sector. How firm this estimate is: it rests on 25 models at a data quality of 95/100, which puts the evidence level at high.
Over the trailing twelve months, Vontobel Holding generated revenue of CHF 1.4B at a net margin of 19.6%. Revenue grew 6.8% year over year. It earns a return on equity of 11.9%. Net debt stands at CHF 16.2B. Fundamentals as of Sep 2, 2026
Our scenario range runs from CHF 21.56 (bear case) to CHF 35.94 (bull case); at CHF 90.40, 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 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −68%, VONN 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 1.29 per share, which is 4.5 % 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 2 models by family
Widest divergence: Multiples (CHF 37.80) versus Asset-Based (CHF 29.79). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 92
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
Vontobel Holding AG, together with its subsidiaries, provides various financial services to private and institutional clients in Switzerland and internationally. The company offers fixed advances, current account overdrafts, guarantees, and margin requirements for derivative transactions.
Full company description
Vontobel Holding AG, together with its subsidiaries, provides various financial services to private and institutional clients in Switzerland and internationally. The company offers fixed advances, current account overdrafts, guarantees, and margin requirements for derivative transactions. It also offers private equity and credit, and venture capital; investment solutions for equities, fixed income, quantitative, multi asset, and private markets; and structured solutions. In addition, the company provides real estate financing and lombard loans; our structured products, including investment products, and thematic investments; leverage products, such as constant leverage certificates, mini futures, warrants, warrants with knock-out, and warrants with knock-out open-end; and thematic investments, comprising strategic and tracker certificates. Further, it offers barrier reverse convertibles, barrier reverse convertibles with conditional coupon, bonus certificates, bonus certificates with cap, callable barrier reverse convertibles, callable reverse convertibles, capital protection notes, capped capital protection notes, credit linked notes, discount certificates, discount certificates with barrier, multi barrier reverse convertibles, multi barrier reverse convertibles with conditional coupon, multi bonus certificates, multi bonus certificates with cap, multi callable barrier reverse convertibles, multi callable reverse convertibles, multi reverse convertibles, multi reverse convertibles with conditional coupon, outperformance certificates, outperformance certificates with cap, and reverse convertibles. Vontobel Holding AG was founded in 1924 and is headquartered in Zurich, Switzerland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Vontobel Holding reported revenue of CHF 1.5B in FY2025 versus CHF 1.9B in FY2021, a compound −5.8%/yr. Reported net income was CHF 280M in FY2025, compounding −7.0%/yr from FY2021.
of which total revenue +4.3 % · buybacks/dilution +0.2 %
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).
VONN screens 214% overvalued. Compare with Blackstone Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Vontobel’s H1 profit jumps 87% as efficiency gains strengthen results
- Vontobel co-CEO to lead Swiss wealth banks association
- Vontobel Strengthens US Presence With New Los Angeles Office
- Interested In Vontobel Holding's (VTX:VONN) Upcoming CHF03.00 Dividend? You Have Three Days Left
Peer Group
Asset Management · 697 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 Asset Management 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: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $142.39 | $52.88 | −63% |
| Investor AB INVEB | kr 417.20 | kr 824.66 | +98% |
| Brookfield Corporation BN | C$55.74 | C$10.67 | −81% |
| KKR & Co KKR | $108.68 | $19.97 | −82% |
| Apollo Global Management, Inc APO | $135.04 | $101.04 | −25% |
| State Street Corporation STT | $193.33 | $138.33 | −28% |
| Ameriprise Financial, Inc AMP | $559.32 | $515.24 | −8% |
| Ares Management Corporation ARES | $143.10 | $30.88 | −78% |
| Northern Trust Corporation NTRS | $186.79 | $122.02 | −35% |
| Raymond James Financial, Inc RJF | $181.10 | $142.42 | −21% |
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