Luzerner Kantonalbank AG (LUKN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Luzerner Kantonalbank AG stock CHF 66.94, price CHF 129, that is 48.3% below the price, quality 52 out of 100. Rating: strongly 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 8, 2026.
How to read this chart
60‑month range CHF 58.64 – CHF 132.80 · fair‑value band CHF 61.61 – CHF 78.99 · the CHF 129.40 price screens above the CHF 66.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Luzerner Kantonalbank AG provides various banking products and services in Switzerland. It operates through Private & Commercial Clients, Corporate Clients, Private Banking, and Corporate Center segments.
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The company offers real estate and business financing, pension provision, and asset advisory and management; investment fund administration; savings, private, gift savings, investment, club, rent deposit savings, and business accounts; bank safe deposit box; debit, credit, and business cards; mobile payments and payment terminals; and e-banking services.
It also provides pension products; financial planning; asset management; tax consulting; protective care advice, advance care directive, and safe risk insurance products; retirement advice; inheritance law solutions; mortgages and construction loans; wealth and cash management; investment solutions; working capital and investment financing; trade finance; company succession; investment and commercial properties; occupational pension advice; investment products; and foreign exchange trading.
The company was formerly known as Kantonale Spar-und Leihkasse and changed its name to Luzerner Kantonalbank AG in 1892. Luzerner Kantonalbank AG was founded in 1850 and is headquartered in Lucerne, Switzerland.
Stock analysis
Luzerner Kantonalbank AG (LUKN) currently trades at CHF 129.40, while our model-based Fair Value estimate is CHF 66.94, 48% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 88.02 per share, and 0 of the 6 models we run sit above the CHF 129.40 price.
Bear case: the Dividend Discount group reads lowest at CHF 39.84, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 61.61 (bear) to CHF 78.99 (bull), the price of CHF 129.40 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 52/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Luzerner Kantonalbank AG reported revenue of CHF 1.0B in FY2025 versus CHF 702M in FY2021, a compound +9.9%/yr. Reported net income was CHF 295M in FY2025, compounding +7.5%/yr from FY2021.
Key figures
Market cap CHF 6.4B Mid · P/E ratio 21.0 · P/S ratio 9.18 · EPS (TTM) CHF 6.17 · Dividend yield 2.1% · Net margin 45.1% · Return on equity 7.4% · Return on assets (EBIT) 0.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 58% 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 −48%, LUKN screens richer than that median.
Fair Value models
BearCHF 61.61Fair Value CHF 66.94BullCHF 78.99
Price CHF 129.40 · Downside -48.3%
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 2.97 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+21.3%
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.
+13.8%
Revenue growth 19 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.
+3.2%
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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.
+6.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.0%
Dividend (yield on the price)2.1%
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.4.0% vs 3.5%, 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% → 33%
News mood ⓘNews mood, the average tone of recent news (6 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: Stable regional operations form the core strength of this cantonal bank, while thin evidence of a durable competitive moat and negative operating cash flow represent its primary weakness.
Main risk: The shift in leadership as the current CEO retires could change the bank's conservative approach and affect its stable regional banking operations.
Luzerner Kantonalbank is set for a leadership shift with Daniel Salzmann retiring at year-end and Stefan Studer stepping in as CEO from 2027. The bank has posted solid half-year results and raised its full-year profit outlook, yet the move comes as it balances stable regional operations with potential adjustments under new direction. Will the incoming leadership preserve the cantonal bank's traditional strengths or push for changes that alter its risk profile?
Compare Luzerner Kantonalbank AG with another stock
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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 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−48.3% · Bottom 25%
Profitability
Return on equity (12 months)7.4% · Below median
Return on assets0.5% · Bottom 25%
Net margin (12 months)45.1% · Top 25%
Operating margin (12 months)51.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)10.5% · Above median
Dividend yield (12 months)2.1% · Below median
Balance sheet
Debt / equity5.19× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)21.0× · Priciest 25%
P/B1.82× · Priciest 25%
P/S (12 months)9.18× · Priciest 25%
EV/EBITDA50.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 8
FUTURE (revenue growth)53· sector 47
PAST (return on equity)30· sector 43
HEALTH (low debt)–
DIVIDEND (yield)42· sector 53
VALUE 0: the price sits above our fair-value range.
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). "Luzerner Kantonalbank AG Fair Value". https://www.fairvalue-calculator.com/stock/LUKN
Frequently asked questions
Is Luzerner Kantonalbank AG (LUKN) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of CHF 66.94 versus a price of CHF 129.40, about 48% lower (overvalued).
What is the fair value of LUKN?
Our model-based fair value for Luzerner Kantonalbank AG is CHF 66.94 (as of Nov 8, 2026), built from audited fundamentals. The current price: CHF 129.40.
What is the quality score of LUKN?
Luzerner Kantonalbank AG has a Quality Score of 52/100. 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 Luzerner Kantonalbank AG (LUKN)?
Our model-based price target is the fair value of CHF 66.94 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario CHF 61.61, optimistic scenario CHF 78.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Luzerner Kantonalbank AG stock forecast for 2026?
Our models put fair value at CHF 66.94, about 48% lower versus a price of CHF 129.40 (overvalued). Cautious scenario CHF 61.61, optimistic scenario CHF 78.99. The calculation is refreshed regularly with new filings.
What is the revenue of Luzerner Kantonalbank AG (LUKN)?
Luzerner Kantonalbank AG reported trailing-twelve-month revenue of about CHF 698M (latest available figure, as of Nov 8, 2026).
Does Luzerner Kantonalbank AG pay a dividend?
Luzerner Kantonalbank AG currently shows a dividend yield of 2.09% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Luzerner Kantonalbank AG (LUKN) and when is the ex-dividend date?
Luzerner Kantonalbank AG pays a dividend of CHF 2.70 per share a year, a dividend yield of 2.1%. The last ex-dividend date was Apr 16, 2026. A dividend has been paid every year since at least 2002. The payout ratio is 43.8% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Luzerner Kantonalbank AG (LUKN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Luzerner Kantonalbank AG it is CHF 66.94 per share (as of Nov 8, 2026), against a price of CHF 129.40. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Luzerner Kantonalbank AG stock overvalued or undervalued in 2026?
As of Nov 8, 2026, LUKN trades above its calculated fair value: price CHF 129.40, fair value CHF 66.94, a gap of about −48% (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 LUKN?
No. The price is what the market pays today (CHF 129.40); the fair value is what the company's own numbers justify (CHF 66.94). For Luzerner Kantonalbank AG the two are CHF 62.46 per share apart. That gap is exactly why we show both numbers side by side.
How much is Luzerner Kantonalbank AG worth?
The market values Luzerner Kantonalbank AG at about CHF 6.4B (market capitalisation, as of Nov 8, 2026). Per share that is CHF 129.40; our models calculate a fair value of CHF 66.94 per share.
What do the bullish and bearish scenarios say about LUKN?
Our models span a range for Luzerner Kantonalbank AG: cautious scenario CHF 61.61, base CHF 66.94, optimistic CHF 78.99 per share (as of Nov 8, 2026, price CHF 129.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LUKN?
Luzerner Kantonalbank AG trades at a price-to-earnings ratio of 21.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 66.94 is built from several models across several years. Other multiples: P/B 1.8, P/S 9.2, EV/EBITDA 50.5.
How solid is the balance sheet of Luzerner Kantonalbank AG (LUKN)?
Balance-sheet figures for Luzerner Kantonalbank AG (as of Nov 8, 2026): return on equity 7.4%, debt of 5.19 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is LUKN from its 52-week high?
Luzerner Kantonalbank AG trades at CHF 129.40, about 3% below its 52-week high of CHF 132.80 and 58% above the low of CHF 82.15 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 66.94 is for.
Which stocks are comparable to Luzerner Kantonalbank 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 Luzerner Kantonalbank AG stock attractive at the current price?
The data as of Nov 8, 2026: price CHF 129.40, calculated fair value CHF 66.94 (−48%), Quality Score 52/100, 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 LUKN calculated?
We run Luzerner Kantonalbank 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 66.94 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 13.0% above its aggregate fair value. Luzerner Kantonalbank 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 Luzerner Kantonalbank AG (LUKN)?
The closing price on Nov 6, 2026 was CHF 129.40. Our model-based fair value is CHF 66.94, about 48% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Luzerner Kantonalbank AG right now?
The price sits above even our optimistic bull case (CHF 78.99). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) 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.
Where does the earnings growth of Luzerner Kantonalbank AG (LUKN) come from?
Earnings per share at Luzerner Kantonalbank AG grew +3.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.7 %, EBIT margin −2.4 %, tax rate +0.2 %, residual (interest, one-offs) +0.0 %. 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 Luzerner Kantonalbank AG
How large is the market capitalisation of Luzerner Kantonalbank AG (LUKN)?
The market capitalisation of Luzerner Kantonalbank AG is CHF 6.4B. 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 Luzerner Kantonalbank AG (LUKN)?
The price-to-sales ratio of Luzerner Kantonalbank AG is 9.18 (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 Luzerner Kantonalbank AG (LUKN)?
Earnings per share at Luzerner Kantonalbank AG are CHF 6.17 (price ÷ EPS = P/E 21.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Luzerner Kantonalbank AG (LUKN)?
The dividend yield of Luzerner Kantonalbank AG is 2.1% (payout 43.8%). 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 Luzerner Kantonalbank AG (LUKN)?
The net margin of Luzerner Kantonalbank AG is 45.1% (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 Luzerner Kantonalbank AG (LUKN)?
The return on equity (ROE) of Luzerner Kantonalbank AG is 7.4% (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 Luzerner Kantonalbank AG (LUKN)?
On an EBIT basis the return on assets of Luzerner Kantonalbank AG is 0.5% (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 Luzerner Kantonalbank AG (LUKN)?
The operating margin of Luzerner Kantonalbank AG is 51.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Luzerner Kantonalbank AG (LUKN)?
Revenue at Luzerner Kantonalbank AG is growing +10.5% versus a year earlier (3y avg +10.2%). 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 Luzerner Kantonalbank AG (LUKN)?
Earnings per share at Luzerner Kantonalbank AG are growing +1.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Luzerner Kantonalbank AG (LUKN) generate?
The free cash flow of Luzerner Kantonalbank AG is −CHF 423M (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 Luzerner Kantonalbank AG (LUKN) carry?
The net debt of Luzerner Kantonalbank AG is CHF 26.5B (fiscal year 2025). 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 8, 2026