St Galler Kantonalbank AG (SGKN) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of St Galler Kantonalbank AG stock CHF 468, price CHF 711, that is 34.2% below the price, quality 53 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 9, 2026.
How to read this chart
60‑month range CHF 356.34 – CHF 720.00 · fair‑value band CHF 383.04 – CHF 521.27 · the CHF 711.00 price screens above the CHF 467.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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St. Galler Kantonalbank AG, a cantonal bank, provides banking products and services to the local population, and small and middle-sized companies in Switzerland.
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It offers asset management products, including investment packages and structured products; equities, derivatives, bonds, in-house and third-party funds, and customized structured products; services, such as mortgages, Lombard loans, sureties, guarantees, etc.; and financial planning services comprising succession planning, inheritance advice, retirement planning, and wealth tax advisory services, as well as inheritance advice, payment transaction, and e-banking services.
The company was formerly known as St. Gallische Kantonalbank and changed its name to St. Galler Kantonalbank AG in 2000. St. Galler Kantonalbank AG was founded in 1868 and is based in Sankt Gallen, Switzerland.
Stock analysis
St Galler Kantonalbank AG (SGKN) currently trades at CHF 711.00, while our model-based Fair Value estimate is CHF 467.69, 34% 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 510.73 per share, and 0 of the 6 models we run sit above the CHF 711.00 price.
Bear case: the Dividend Discount group reads lowest at CHF 177.63, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 383.04 (bear) to CHF 521.27 (bull), the price of CHF 711.00 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 53/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
St Galler Kantonalbank AG reported revenue of CHF 836M in FY2025 versus CHF 496M in FY2021, a compound +13.9%/yr. Reported net income was CHF 227M in FY2025, compounding +5.8%/yr from FY2021.
Key figures
Market cap CHF 4.3B Mid · P/E ratio 18.3 · P/S ratio 7.07 · EPS (TTM) CHF 38.89 · Dividend yield 2.8% · Net margin 38.6% · Return on equity 7.6% · Return on assets (EBIT) 0.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 41% 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 −34%, SGKN screens richer than that median.
Fair Value models
BearCHF 383.04Fair Value CHF 467.69BullCHF 521.27
Price CHF 711.00 · Downside -34.2%
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 16.20 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.60/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+49.0%
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.
+19.4%
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.
+12.4%
Start year 2020 (pandemic). Over 10 years: +6.5% a year
Revenue growth 21 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.
+0.6%
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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.
+8.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.0%
Dividend (yield on the price)2.8%
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.6.0% vs 4.0%, 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.41% → 32%
AI conclusion: The regional bank's main strength is its network of physical branches that anchors local proximity and keeps it clients' main bank, while its main weak point remains thin evidence of durable advantages plus negative operating and free cash flows.
Main risk: Negative operating and free cash flows threaten the sustainability of the branch network and the ability to maintain client relationships as the main bank.
St. Galler Kantonalbank anchors its position in a network of physical branches that the CEO calls central to local proximity and remaining clients' main bank. Competition from neo-banks is met with relative calm while a new strategy to 2031 is prepared for February. Our models see the shares as overvalued. Will the bet on regional branches and personal ties prove more durable than a stronger digital push?
Compare St Galler 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 · 996 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−34.3% · Bottom 25%
Profitability
Return on equity (12 months)7.6% · Below median
Return on assets0.5% · Bottom 25%
Net margin (12 months)38.6% · Top 25%
Operating margin (12 months)45.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)4.3% · Below median
Dividend yield (12 months)2.8% · Above median
Balance sheet
Debt / equity3.06× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)18.3× · Priciest 25%
P/B1.37× · Pricier than median
P/S (12 months)7.07× · Priciest 25%
EV/EBITDA14.5× · Pricier than median
PEG1.94× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 8
FUTURE (revenue growth)22· sector 47
PAST (return on equity)30· sector 43
HEALTH (low debt)–
DIVIDEND (yield)56· 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). "St Galler Kantonalbank AG Fair Value". https://www.fairvalue-calculator.com/stock/SGKN
Frequently asked questions
Is St Galler Kantonalbank AG (SGKN) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of CHF 467.69 versus a price of CHF 711.00, about 34% lower (overvalued).
What is the fair value of SGKN?
Our model-based fair value for St Galler Kantonalbank AG is CHF 467.69 (as of Nov 9, 2026), built from audited fundamentals. The current price: CHF 711.00.
What is the quality score of SGKN?
St Galler Kantonalbank AG has a Quality Score of 53/100. 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 St Galler Kantonalbank AG (SGKN)?
Our model-based price target is the fair value of CHF 467.69 (as of Nov 9, 2026) from 6 valuation models. Cautious scenario CHF 383.04, optimistic scenario CHF 521.27. It is a calculation from audited fundamentals, not an analyst target.
What is the St Galler Kantonalbank AG stock forecast for 2026?
Our models put fair value at CHF 467.69, about 34% lower versus a price of CHF 711.00 (overvalued). Cautious scenario CHF 383.04, optimistic scenario CHF 521.27. The calculation is refreshed regularly with new filings.
What is the revenue of St Galler Kantonalbank AG (SGKN)?
St Galler Kantonalbank AG reported trailing-twelve-month revenue of about CHF 602M (latest available figure, as of Nov 9, 2026).
Does St Galler Kantonalbank AG pay a dividend?
St Galler Kantonalbank AG currently shows a dividend yield of 2.81% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of St Galler Kantonalbank AG (SGKN) and when is the ex-dividend date?
St Galler Kantonalbank AG pays a dividend of CHF 20.00 per share a year, a dividend yield of 2.8%. The last ex-dividend date was May 4, 2026. A dividend has been paid every year since at least 2002. The payout ratio is 51.4% 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 St Galler Kantonalbank AG (SGKN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For St Galler Kantonalbank AG it is CHF 467.69 per share (as of Nov 9, 2026), against a price of CHF 711.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is St Galler Kantonalbank AG stock overvalued or undervalued in 2026?
As of Nov 9, 2026, SGKN trades above its calculated fair value: price CHF 711.00, fair value CHF 467.69, a gap of about −34% (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 SGKN?
No. The price is what the market pays today (CHF 711.00); the fair value is what the company's own numbers justify (CHF 467.69). For St Galler Kantonalbank AG the two are CHF 243.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is St Galler Kantonalbank AG worth?
The market values St Galler Kantonalbank AG at about CHF 4.3B (market capitalisation, as of Nov 9, 2026). Per share that is CHF 711.00; our models calculate a fair value of CHF 467.69 per share.
What do the bullish and bearish scenarios say about SGKN?
Our models span a range for St Galler Kantonalbank AG: cautious scenario CHF 383.04, base CHF 467.69, optimistic CHF 521.27 per share (as of Nov 9, 2026, price CHF 711.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SGKN?
St Galler Kantonalbank AG trades at a price-to-earnings ratio of 18.3 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 467.69 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 14.9. Other multiples: PEG 1.9, P/B 1.4, P/S 7.1, EV/EBITDA 14.5.
What is the PEG ratio of SGKN?
The PEG ratio of St Galler Kantonalbank AG is 1.94 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of St Galler Kantonalbank AG (SGKN)?
Balance-sheet figures for St Galler Kantonalbank AG (as of Nov 9, 2026): return on equity 7.6%, debt of 3.06 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is SGKN from its 52-week high?
St Galler Kantonalbank AG trades at CHF 711.00, about 1% below its 52-week high of CHF 720.00 and 41% above the low of CHF 504.06 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 467.69 is for.
Which stocks are comparable to St Galler 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 St Galler Kantonalbank AG stock attractive at the current price?
The data as of Nov 9, 2026: price CHF 711.00, calculated fair value CHF 467.69 (−34%), Quality Score 53/100, 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 SGKN calculated?
We run St Galler 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 467.69 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 13.3% above its aggregate fair value. St Galler 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 St Galler Kantonalbank AG (SGKN)?
The closing price on Nov 9, 2026 was CHF 711.00. Our model-based fair value is CHF 467.69, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with St Galler Kantonalbank AG right now?
The price sits above even our optimistic bull case (CHF 521.27). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) 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 St Galler Kantonalbank AG (SGKN) come from?
Earnings per share at St Galler Kantonalbank AG grew +4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.8 %, EBIT margin −6.5 %, tax rate +0.3 %, residual (interest, one-offs) +6.9 %. 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 St Galler Kantonalbank AG
How large is the market capitalisation of St Galler Kantonalbank AG (SGKN)?
The market capitalisation of St Galler Kantonalbank AG is CHF 4.3B. 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 St Galler Kantonalbank AG (SGKN)?
The price-to-sales ratio of St Galler Kantonalbank AG is 7.07 (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 St Galler Kantonalbank AG (SGKN)?
Earnings per share at St Galler Kantonalbank AG are CHF 38.89 (price ÷ EPS = P/E 18.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of St Galler Kantonalbank AG (SGKN)?
The dividend yield of St Galler Kantonalbank AG is 2.8% (payout 51.4%). 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 St Galler Kantonalbank AG (SGKN)?
The net margin of St Galler Kantonalbank AG is 38.6% (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 St Galler Kantonalbank AG (SGKN)?
The return on equity (ROE) of St Galler Kantonalbank AG is 7.6% (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 St Galler Kantonalbank AG (SGKN)?
On an EBIT basis the return on assets of St Galler Kantonalbank AG is 0.6% (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 St Galler Kantonalbank AG (SGKN)?
The operating margin of St Galler Kantonalbank AG is 45.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at St Galler Kantonalbank AG (SGKN)?
Revenue at St Galler Kantonalbank AG is growing +4.3% versus a year earlier (3y avg +19.4%). 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 St Galler Kantonalbank AG (SGKN)?
Earnings per share at St Galler Kantonalbank AG are growing −1.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does St Galler Kantonalbank AG (SGKN) generate?
The free cash flow of St Galler Kantonalbank AG is −CHF 1.2B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does St Galler Kantonalbank AG (SGKN) hold?
St Galler Kantonalbank AG holds more cash than debt, CHF 394M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 9, 2026