Banque Cantonale Vaudoise (BCVN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Banque Cantonale Vaudoise stock CHF 55.71, price CHF 139, that is 59.9% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range CHF 54.39 – CHF 138.90 · fair‑value band CHF 41.91 – CHF 71.17 · the CHF 138.90 price screens above the CHF 55.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Banque Cantonale Vaudoise engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally. It operates through four divisions: Retail Banking, Private Banking, Corporate Banking, and Asset Management & Trading.
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The company offers current, savings, foreign-currency, and retirement investment accounts; overdraft facilities; credit and payment cards; mortgage, personal, home, business, and construction loans; and production equipment financing and working capital and international trade finance products.
It also provides a range of banking services, such as investments, real estate, financial planning services, and trading through its TradeDirect online platform; and cash management services, as well as instruments for hedging exchange-rate and interest-rate risk.
In addition, the company offers asset and wealth management services; and investment and hedging products, such as currencies, equities, bonds, derivatives, and structured products.
Further, it engages in the market transactions in equities, fixed-income instruments, forex, and precious metals on behalf of clients.
Additionally, the company provides life insurance products, ATMs, and online banking services; manages finances and investments of high-net-worth individuals; and advisory services, such as tax planning, estate planning, and financial planning; and retirement, life insurance, and disability coverages.
It primarily serves retail and business customers, and public sector institutions. Banque Cantonale Vaudoise was founded in 1845 and is headquartered in Lausanne, Switzerland.
Stock analysis
Banque Cantonale Vaudoise (BCVN) currently trades at CHF 138.90, while our model-based Fair Value estimate is CHF 55.71, 60% 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 63.45 per share, and 0 of the 6 models we run sit above the CHF 138.90 price.
Bear case: the Asset-Based group reads lowest at CHF 30.37, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 41.91 (bear) to CHF 71.17 (bull), the price of CHF 138.90 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 65/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Banque Cantonale Vaudoise reported revenue of CHF 1.4B in FY2025 versus CHF 1.0B in FY2021, a compound +8.6%/yr. Reported net income was CHF 430M in FY2025, compounding +3.2%/yr from FY2021.
Key figures
Market cap CHF 11.9B Large · P/E ratio 27.1 · P/S ratio 10.3 · EPS (TTM) CHF 5.12 · Dividend yield 3.2% · Net margin 37.9% · Return on equity 11.6% · Return on assets (EBIT) 0.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 55% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at −60%, BCVN screens richer than that median.
Fair Value models
BearCHF 41.91Fair Value CHF 55.71BullCHF 71.17
Price CHF 138.90 · Downside -59.9%
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 0.6115 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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+22.5%
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.
+10.7%
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.
+8.0%
Start year 2020 (pandemic). Over 10 years: +3.3% 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.
+1.9%
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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.
+6.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.4%
Dividend (yield on the price)3.2%
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.3.4% vs 3.4%, 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.40% → 36%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+15.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +14.9% a year for the price.
News mood ⓘNews mood, the average tone of recent news (78 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: Diversified revenue across mortgages, wealth management and institutional clients helps offset low-rate pressure, yet limited signals point to few durable competitive advantages.
Main risk: Aggressive expansion by UBS in the Swiss mortgage market could take customers from BCV or force lower lending margins in its core regional business.
Bull case: BCV could leverage its local knowledge and diversified revenue mix including wealth management to retain clients and maintain stable margins despite competition from larger banks.
Bear case: If UBS captures significant mortgage share and local real estate weakens, BCV could face sustained pressure on lending volumes and higher provisions, limiting growth in its core regional operations.
Banque Cantonale Vaudoise offsets pressure from low interest rates through its diversified model spanning mortgages, wealth management and institutional clients. Our models see it as overvalued. Will this regional cantonal focus and revenue mix deliver steady growth, or will local market conditions limit it more than broader peers?
Compare Banque Cantonale Vaudoise with another stock
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 · 1002 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−59.9% · Bottom 25%
Profitability
Return on equity (12 months)11.6% · Above median
Return on assets0.7% · Below median
Net margin (12 months)37.9% · Above median
Operating margin (12 months)44.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.3% · Below median
Dividend yield (12 months)3.2% · Above median
Balance sheet
Debt / equity2.80× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)27.1× · Priciest 25%
P/B3.00× · Priciest 25%
P/S (12 months)10.26× · Priciest 25%
Price / free cash flow24.8× · Priciest 25%
EV/EBITDA23.4× · Priciest 25%
PEG6.06× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 8
FUTURE (revenue growth)12· sector 48
PAST (return on equity)46· sector 43
HEALTH (low debt)0· sector 85
DIVIDEND (yield)63· sector 53
VALUE 0: the price sits above our fair-value range.
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.
Is Banque Cantonale Vaudoise (BCVN) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of CHF 55.71 versus a price of CHF 138.90, about 60% lower (overvalued).
What is the fair value of BCVN?
Our model-based fair value for Banque Cantonale Vaudoise is CHF 55.71 (as of Nov 3, 2026), built from audited fundamentals. The current price: CHF 138.90.
What is the quality score of BCVN?
Banque Cantonale Vaudoise has a Quality Score of 65/100. 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 Banque Cantonale Vaudoise (BCVN)?
Our model-based price target is the fair value of CHF 55.71 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario CHF 41.91, optimistic scenario CHF 71.17. It is a calculation from audited fundamentals, not an analyst target.
What is the Banque Cantonale Vaudoise stock forecast for 2026?
Our models put fair value at CHF 55.71, about 60% lower versus a price of CHF 138.90 (overvalued). Cautious scenario CHF 41.91, optimistic scenario CHF 71.17. The calculation is refreshed regularly with new filings.
What is the revenue of Banque Cantonale Vaudoise (BCVN)?
Banque Cantonale Vaudoise reported trailing-twelve-month revenue of about CHF 1.2B (latest available figure, as of Nov 3, 2026).
Does Banque Cantonale Vaudoise pay a dividend?
Banque Cantonale Vaudoise currently shows a dividend yield of 3.17% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Banque Cantonale Vaudoise (BCVN)?
For today's price to be fair in a discounted-cash-flow model, Banque Cantonale Vaudoise would have to grow free cash flow by +15.6 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.0 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of BCVN use?
Our models discount Banque Cantonale Vaudoise at 9.0 %: a base by market capitalisation (large), country premium for Switzerland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Banque Cantonale Vaudoise that is +15.6 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Banque Cantonale Vaudoise (BCVN) delivered so far?
Over the past 5 years revenue at Banque Cantonale Vaudoise grew +8.0 % a year. The price currently implies +15.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Banque Cantonale Vaudoise (BCVN) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Banque Cantonale Vaudoise (+15.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Banque Cantonale Vaudoise (BCVN)?
The free-cash-flow yield on the price is 4.04 %: that much free cash flow Banque Cantonale Vaudoise produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Banque Cantonale Vaudoise (BCVN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Banque Cantonale Vaudoise it is CHF 55.71 per share (as of Nov 3, 2026), against a price of CHF 138.90. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Banque Cantonale Vaudoise stock overvalued or undervalued in 2026?
As of Nov 3, 2026, BCVN trades above its calculated fair value: price CHF 138.90, fair value CHF 55.71, a gap of about −60% (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 BCVN?
No. The price is what the market pays today (CHF 138.90); the fair value is what the company's own numbers justify (CHF 55.71). For Banque Cantonale Vaudoise the two are CHF 83.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Banque Cantonale Vaudoise worth?
The market values Banque Cantonale Vaudoise at about CHF 11.9B (market capitalisation, as of Nov 3, 2026). Per share that is CHF 138.90; our models calculate a fair value of CHF 55.71 per share.
What do the bullish and bearish scenarios say about BCVN?
Our models span a range for Banque Cantonale Vaudoise: cautious scenario CHF 41.91, base CHF 55.71, optimistic CHF 71.17 per share (as of Nov 3, 2026, price CHF 138.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BCVN?
Banque Cantonale Vaudoise trades at a price-to-earnings ratio of 27.1 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 55.71 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 19.7. Other multiples: PEG 6.1, P/B 3.0, P/S 10.3, EV/EBITDA 23.4.
What is the PEG ratio of BCVN?
The PEG ratio of Banque Cantonale Vaudoise is 6.06 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Banque Cantonale Vaudoise (BCVN)?
Balance-sheet figures for Banque Cantonale Vaudoise (as of Nov 3, 2026): return on equity 11.6%, debt of 2.80 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is BCVN from its 52-week high?
Banque Cantonale Vaudoise trades at CHF 138.90, at its 52-week high of CHF 138.90 and 55% above the low of CHF 89.53 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 55.71 is for.
Which stocks are comparable to Banque Cantonale Vaudoise?
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 Banque Cantonale Vaudoise stock attractive at the current price?
The data as of Nov 3, 2026: price CHF 138.90, calculated fair value CHF 55.71 (−60%), Quality Score 65/100, 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 BCVN calculated?
We run Banque Cantonale Vaudoise through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of CHF 55.71, 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 15.5% above its aggregate fair value. Banque Cantonale Vaudoise 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 Banque Cantonale Vaudoise (BCVN)?
The closing price on Nov 5, 2026 was CHF 138.90. Our model-based fair value is CHF 55.71, about 60% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Banque Cantonale Vaudoise right now?
The price sits above even our optimistic bull case (CHF 71.17). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) 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 Banque Cantonale Vaudoise (BCVN) come from?
Earnings per share at Banque Cantonale Vaudoise grew +4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.6 %, EBIT margin −2.8 %, tax rate +1.0 %, residual (interest, one-offs) +3.2 %. 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 Banque Cantonale Vaudoise
How large is the market capitalisation of Banque Cantonale Vaudoise (BCVN)?
The market capitalisation of Banque Cantonale Vaudoise is CHF 11.9B. 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 Banque Cantonale Vaudoise (BCVN)?
The price-to-sales ratio of Banque Cantonale Vaudoise is 10.3 (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 Banque Cantonale Vaudoise (BCVN)?
Earnings per share at Banque Cantonale Vaudoise are CHF 5.12 (price ÷ EPS = P/E 27.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Banque Cantonale Vaudoise (BCVN)?
The dividend yield of Banque Cantonale Vaudoise is 3.2% (payout 85.9%). 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 Banque Cantonale Vaudoise (BCVN)?
The net margin of Banque Cantonale Vaudoise is 37.9% (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 Banque Cantonale Vaudoise (BCVN)?
The return on equity (ROE) of Banque Cantonale Vaudoise is 11.6% (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 Banque Cantonale Vaudoise (BCVN)?
On an EBIT basis the return on assets of Banque Cantonale Vaudoise is 0.9% (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 Banque Cantonale Vaudoise (BCVN)?
The operating margin of Banque Cantonale Vaudoise is 44.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Banque Cantonale Vaudoise (BCVN)?
Revenue at Banque Cantonale Vaudoise is growing +2.3% versus a year earlier (3y avg +10.7%). 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 Banque Cantonale Vaudoise (BCVN)?
Earnings per share at Banque Cantonale Vaudoise are growing −1.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Banque Cantonale Vaudoise (BCVN) carry?
The net debt of Banque Cantonale Vaudoise is CHF 1.8B (fiscal year 2025, ≈ 3.7 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 3, 2026