Cembra Money Bank AG (CMBN) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Cembra Money Bank AG stock CHF 65.98, price CHF 85.55, that is 22.9% below the price, quality 66 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range CHF 42.93 – CHF 99.85 · fair‑value band CHF 44.24 – CHF 82.48 · the CHF 85.55 price screens above the CHF 65.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.
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Cembra Money Bank AG provides consumer finance products and services in Switzerland.
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The company offers savings and deposit products; cash and personal loans, and auto loans and leasing products; credit card and invoice financing receivables; leasing services for new and used vehicles, including cars, light commercial vehicles, motorcycles, and caravans, as well as corporate leasing services; and investment securities comprising debt securities.
It also provides financial protection products for involuntary unemployment, accident, illness, or disability; travel, cyber, and card protection insurance products; car insurance products; investment products; and credit cards, mobile payment, and online banking services.
The company serves private and self-employed individuals, and small enterprises. It operates through a network of branches and online distribution channels; and credit card partners, independent intermediaries, and car dealers.
The company was formerly known as GE Money Bank Aktiengesellschaft and changed its name to Cembra Money Bank AG in October 2013. Cembra Money Bank AG was founded in 1912 and is headquartered in Zurich, Switzerland.
Stock analysis
Cembra Money Bank AG (CMBN) currently trades at CHF 85.55, while our model-based Fair Value estimate is CHF 65.98, 23% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of CHF 76.48 per share, and 1 of the 6 models we run sit above the CHF 85.55 price.
Bear case: the Asset-Based group reads lowest at CHF 25.67, and 5 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 44.24 (bear) to CHF 82.48 (bull), the price of CHF 85.55 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cembra Money Bank AG reported revenue of CHF 635M in FY2025 versus CHF 513M in FY2021, a compound +5.5%/yr. Reported net income was CHF 180M in FY2025, compounding +2.7%/yr from FY2021.
Key figures
Market cap CHF 2.5B Mid · P/E ratio 13.6 · P/S ratio 5.41 · EPS (TTM) CHF 6.28 · Dividend yield 6.5% · Net margin 39.8% · Return on equity 14.7% · Return on assets (EBIT) 2.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −23%, CMBN screens cheaper than that median.
Fair Value models
BearCHF 44.24Fair Value CHF 65.98BullCHF 82.48
Price CHF 85.55 · Downside -22.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 0.5906 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Start year 2020 (pandemic). Over 10 years: +6.3% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+8.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)6.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.1.8% vs 1.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.37% → 35%
News mood ⓘNews mood, the average tone of recent news (77 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Improved cost efficiency and the planned leasing expansion via Santander integration represent the main strength, while thin evidence of a durable moat stands as the central weakness.
Main risk: Integration risks from the Santander Swiss auto financing deal could pressure capital ratios and weigh on returns before any longer-term accretion materialises.
Cembra has improved its cost-income ratio through ongoing efficiency measures while preparing to integrate a large part of Santander's Swiss auto financing business, expected to close in November. The deal should strengthen its position in leasing and expand partner networks, yet one-time effects are set to weigh on returns this year before any accretion shows from 2027 onward. Will the added scale more than offset integration risks and keep capital ratios comfortable?
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Banks - Regional · 998 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside−22.9% · Below median
Profitability
Return on equity (12 months)14.7% · Top 25%
Return on assets2.3% · Top 25%
Net margin (12 months)39.8% · Top 25%
Operating margin (12 months)49.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)−2.1% · Bottom 25%
Dividend yield (12 months)6.5% · Top 25%
Balance sheet
Debt / equity1.45× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)13.6× · Pricier than median
P/B1.86× · Priciest 25%
P/S (12 months)5.41× · Priciest 25%
Price / free cash flow (fiscal year)12.1× · Pricier than median
EV/EBITDA15.2× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)3· sector 9
FUTURE (revenue growth)0· sector 47
PAST (return on equity)59· sector 43
HEALTH (low debt)–
DIVIDEND (yield)100· sector 52
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cembra Money Bank AG Fair Value". https://www.fairvalue-calculator.com/stock/CMBN
Frequently asked questions
Is Cembra Money Bank AG (CMBN) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of CHF 65.98 versus a price of CHF 85.55, about 23% lower (overvalued).
What is the fair value of CMBN?
Our model-based fair value for Cembra Money Bank AG is CHF 65.98 (as of Nov 11, 2026), built from audited fundamentals. The current price: CHF 85.55.
What is the quality score of CMBN?
Cembra Money Bank AG has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cembra Money Bank AG (CMBN)?
Our model-based price target is the fair value of CHF 65.98 (as of Nov 11, 2026) from 6 valuation models. Cautious scenario CHF 44.24, optimistic scenario CHF 82.48. It is a calculation from audited fundamentals, not an analyst target.
What is the Cembra Money Bank AG stock forecast for 2026?
Our models put fair value at CHF 65.98, about 23% lower versus a price of CHF 85.55 (overvalued). Cautious scenario CHF 44.24, optimistic scenario CHF 82.48. The calculation is refreshed regularly with new filings.
What is the revenue of Cembra Money Bank AG (CMBN)?
Cembra Money Bank AG reported trailing-twelve-month revenue of about CHF 464M (latest available figure, as of Nov 11, 2026).
Does Cembra Money Bank AG pay a dividend?
Cembra Money Bank AG currently shows a dividend yield of 6.55% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Cembra Money Bank AG (CMBN) and when is the ex-dividend date?
Cembra Money Bank AG pays a dividend of CHF 5.60 per share a year, a dividend yield of 6.5%. The last ex-dividend date was Apr 28, 2026. A dividend has been paid every year since at least 2014. The payout ratio is 89.2% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Cembra Money Bank AG (CMBN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cembra Money Bank AG it is CHF 65.98 per share (as of Nov 11, 2026), against a price of CHF 85.55. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Cembra Money Bank AG stock overvalued or undervalued in 2026?
As of Nov 11, 2026, CMBN trades above its calculated fair value: price CHF 85.55, fair value CHF 65.98, a gap of about −23% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CMBN?
No. The price is what the market pays today (CHF 85.55); the fair value is what the company's own numbers justify (CHF 65.98). For Cembra Money Bank AG the two are CHF 19.57 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cembra Money Bank AG worth?
The market values Cembra Money Bank AG at about CHF 2.5B (market capitalisation, as of Nov 11, 2026). Per share that is CHF 85.55; our models calculate a fair value of CHF 65.98 per share.
What do the bullish and bearish scenarios say about CMBN?
Our models span a range for Cembra Money Bank AG: cautious scenario CHF 44.24, base CHF 65.98, optimistic CHF 82.48 per share (as of Nov 11, 2026, price CHF 85.55). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CMBN?
Cembra Money Bank AG trades at a price-to-earnings ratio of 13.6 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 65.98 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 14.4. Other multiples: P/B 1.9, P/S 5.4, EV/EBITDA 15.2.
How solid is the balance sheet of Cembra Money Bank AG (CMBN)?
Balance-sheet figures for Cembra Money Bank AG (as of Nov 11, 2026): return on equity 14.7%, debt of 1.45 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is CMBN from its 52-week high?
Cembra Money Bank AG trades at CHF 85.55, about 14% below its 52-week high of CHF 99.85 and 3% above the low of CHF 83.00 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 65.98 is for.
Which stocks are comparable to Cembra Money Bank AG?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cembra Money Bank AG stock attractive at the current price?
The data as of Nov 11, 2026: price CHF 85.55, calculated fair value CHF 65.98 (−23%), Quality Score 66/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CMBN calculated?
We run Cembra Money Bank AG through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of CHF 65.98 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Cembra Money Bank AG itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cembra Money Bank AG (CMBN)?
The closing price on Nov 12, 2026 was CHF 85.55. Our model-based fair value is CHF 65.98, about 23% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cembra Money Bank AG right now?
The price sits above even our optimistic bull case (CHF 82.48). The favourable scenario is already priced in. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (CHF 44.24 to CHF 82.48) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Cembra Money Bank AG (CMBN) come from?
Earnings per share at Cembra Money Bank AG grew +1.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.1 %, EBIT margin −2.2 %, tax rate +0.2 %, residual (interest, one-offs) −1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cembra Money Bank AG
How large is the market capitalisation of Cembra Money Bank AG (CMBN)?
The market capitalisation of Cembra Money Bank AG is CHF 2.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cembra Money Bank AG (CMBN)?
The price-to-sales ratio of Cembra Money Bank AG is 5.41 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cembra Money Bank AG (CMBN)?
Earnings per share at Cembra Money Bank AG are CHF 6.28 (price ÷ EPS = P/E 13.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cembra Money Bank AG (CMBN)?
The dividend yield of Cembra Money Bank AG is 6.5% (payout 89.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cembra Money Bank AG (CMBN)?
The net margin of Cembra Money Bank AG is 39.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cembra Money Bank AG (CMBN)?
The return on equity (ROE) of Cembra Money Bank AG is 14.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cembra Money Bank AG (CMBN)?
On an EBIT basis the return on assets of Cembra Money Bank AG is 2.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cembra Money Bank AG (CMBN)?
The operating margin of Cembra Money Bank AG is 49.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cembra Money Bank AG (CMBN)?
Revenue at Cembra Money Bank AG is growing −2.1% versus a year earlier (3y avg +5.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cembra Money Bank AG (CMBN)?
Earnings per share at Cembra Money Bank AG are growing +5.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Cembra Money Bank AG (CMBN) generate?
The free cash flow of Cembra Money Bank AG is CHF 207M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Cembra Money Bank AG (CMBN) carry?
The net debt of Cembra Money Bank AG is CHF 2.0B (fiscal year 2025, ≈ 9.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 11, 2026