Berner Kantonalbank AG (BEKN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Berner Kantonalbank AG stock CHF 278, price CHF 448, that is 37.9% below the price, quality 71 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 3, 2026.
How to read this chart
60‑month range CHF 163.12 – CHF 453.00 · fair‑value band CHF 265.30 – CHF 329.42 · the CHF 448.00 price screens above the CHF 278.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Berner Kantonalbank AG provides banking products and services to private individuals and corporate customers in Switzerland. It offers savings and payment accounts; mortgages and financing products; business and investment loans; real estate and individual financing products; and retirement accounts.
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The company also provides investment products and solutions; pension solutions; insurance and guarantees; capital goods leasing services; bank cards and credit cards; and asset management services, including strategy consulting, portfolio optimization and simulation, investment advisory, investment funds, and securities accounting services, as well as online banking services.
In addition, it trades in stocks, bonds, derivatives, foreign exchange, and money market instruments. The company was formerly known as Kantonalbank von Bern and changed its name to Berner Kantonalbank AG in 1991. Berner Kantonalbank AG was founded in 1834 and is headquartered in Bern, Switzerland.
Stock analysis
Berner Kantonalbank AG (BEKN) currently trades at CHF 448.00, while our model-based Fair Value estimate is CHF 278.06, 38% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of CHF 278.06 per share, and 0 of the 6 models we run sit above the CHF 448.00 price.
Bear case: the Dividend Discount group reads lowest at CHF 151.83, and 6 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 265.30 (bear) to CHF 329.42 (bull), the price of CHF 448.00 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 71/100 (solid quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2008: revenue and profit before it include the divested business. Growth is measured afresh from 2008.
Berner Kantonalbank AG reported revenue of CHF 681M in FY2025 versus CHF 497M in FY2021, a compound +8.2%/yr. Reported net income was CHF 175M in FY2025, compounding +3.1%/yr from FY2021.
Key figures
Market cap CHF 4.1B Mid · P/E ratio 23.5 · P/S ratio 7.36 · EPS (TTM) CHF 19.08 · Dividend yield 2.4% · Net margin 32.3% · Return on equity 6.0% · Return on assets (EBIT) 0.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 74% 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 −38%, BEKN screens richer than that median.
Fair Value models
BearCHF 265.30Fair Value CHF 278.06BullCHF 329.42
Price CHF 448.00 · Downside -37.9%
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 7.08 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.55/100
Spin-off in 2008: revenue and profit before it include the divested business. Growth is measured afresh from 2008.
Revenue growth 1 year
−8.9%
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.
+8.6%
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.
+6.6%
Start year 2020 (pandemic). Over 10 years: +5.3% a year
Revenue growth 17 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.
+3.1%
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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.
+5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.4%
Dividend (yield on the price)2.4%
Per share before 2008divided by the spin-off factor 1.0232
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 3.3%, 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% → 32%
AI conclusion: Stable profitability and sound asset quality form the main strength of this regional bank, while thin evidence across categories and lack of standout durable signals remain its central weakness.
Main risk: Persistent low interest rates continue to reduce net interest income and exert pressure on traditional lending margins within the regional banking franchise.
Berner Kantonalbank grew assets under management while net interest income declined amid low rates, with commission income rising sharply in the first half. Moody's recent upgrade of its long-term deposit rating to Aa1 underscores stable profitability and sound asset quality. Will expanding fee-based wealth management continue to offset pressure on traditional lending margins, or will the regional banking franchise prove the more durable driver?
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 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−37.9% · Bottom 25%
Profitability
Return on equity (12 months)6.0% · Bottom 25%
Return on assets0.4% · Bottom 25%
Net margin (12 months)32.3% · Above median
Operating margin (12 months)39.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.2% · Below median
Dividend yield (12 months)2.4% · Below median
Balance sheet
Debt / equity2.99× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)23.5× · Priciest 25%
P/B1.35× · Pricier than median
P/S (12 months)7.36× · Priciest 25%
Price / free cash flow (fiscal year)10.4× · Cheaper than median
EV/EBITDA21.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 8
FUTURE (revenue growth)31· sector 47
PAST (return on equity)24· sector 43
HEALTH (low debt)–
DIVIDEND (yield)48· 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). "Berner Kantonalbank AG Fair Value". https://www.fairvalue-calculator.com/stock/BEKN
Frequently asked questions
Is Berner Kantonalbank AG (BEKN) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of CHF 278.06 versus a price of CHF 448.00, about 38% lower (overvalued).
What is the fair value of BEKN?
Our model-based fair value for Berner Kantonalbank AG is CHF 278.06 (as of Nov 3, 2026), built from audited fundamentals. The current price: CHF 448.00.
What is the quality score of BEKN?
Berner Kantonalbank AG has a Quality Score of 71/100. 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 Berner Kantonalbank AG (BEKN)?
Our model-based price target is the fair value of CHF 278.06 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario CHF 265.30, optimistic scenario CHF 329.42. It is a calculation from audited fundamentals, not an analyst target.
What is the Berner Kantonalbank AG stock forecast for 2026?
Our models put fair value at CHF 278.06, about 38% lower versus a price of CHF 448.00 (overvalued). Cautious scenario CHF 265.30, optimistic scenario CHF 329.42. The calculation is refreshed regularly with new filings.
What is the revenue of Berner Kantonalbank AG (BEKN)?
Berner Kantonalbank AG reported trailing-twelve-month revenue of about CHF 563M (latest available figure, as of Nov 3, 2026).
Does Berner Kantonalbank AG pay a dividend?
Berner Kantonalbank AG currently shows a dividend yield of 2.41% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Berner Kantonalbank AG (BEKN) and when is the ex-dividend date?
Berner Kantonalbank AG pays a dividend of CHF 10.80 per share a year, a dividend yield of 2.4%. The last ex-dividend date was May 15, 2026. A dividend has been paid every year since at least 2001. The payout ratio is 56.6% 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 Berner Kantonalbank AG (BEKN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Berner Kantonalbank AG it is CHF 278.06 per share (as of Nov 3, 2026), against a price of CHF 448.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Berner Kantonalbank AG stock overvalued or undervalued in 2026?
As of Nov 3, 2026, BEKN trades above its calculated fair value: price CHF 448.00, fair value CHF 278.06, a gap of about −38% (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 BEKN?
No. The price is what the market pays today (CHF 448.00); the fair value is what the company's own numbers justify (CHF 278.06). For Berner Kantonalbank AG the two are CHF 169.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Berner Kantonalbank AG worth?
The market values Berner Kantonalbank AG at about CHF 4.1B (market capitalisation, as of Nov 3, 2026). Per share that is CHF 448.00; our models calculate a fair value of CHF 278.06 per share.
What do the bullish and bearish scenarios say about BEKN?
Our models span a range for Berner Kantonalbank AG: cautious scenario CHF 265.30, base CHF 278.06, optimistic CHF 329.42 per share (as of Nov 3, 2026, price CHF 448.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEKN?
Berner Kantonalbank AG trades at a price-to-earnings ratio of 23.5 (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 278.06 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 13.2. Other multiples: P/B 1.4, P/S 7.4, EV/EBITDA 21.8.
How solid is the balance sheet of Berner Kantonalbank AG (BEKN)?
Balance-sheet figures for Berner Kantonalbank AG (as of Nov 3, 2026): return on equity 6.0%, debt of 2.99 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is BEKN from its 52-week high?
Berner Kantonalbank AG trades at CHF 448.00, about 1% below its 52-week high of CHF 453.00 and 74% above the low of CHF 257.75 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 278.06 is for.
Which stocks are comparable to Berner 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 Berner Kantonalbank AG stock attractive at the current price?
The data as of Nov 3, 2026: price CHF 448.00, calculated fair value CHF 278.06 (−38%), Quality Score 71/100, 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 BEKN calculated?
We run Berner 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 278.06 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. Berner 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 Berner Kantonalbank AG (BEKN)?
The closing price on Nov 6, 2026 was CHF 448.00. Our model-based fair value is CHF 278.06, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Berner Kantonalbank AG right now?
The price sits above even our optimistic bull case (CHF 329.42). The favourable scenario is already priced in. Solid but not exceptional quality (71/100) 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 Berner Kantonalbank AG (BEKN) come from?
Earnings per share at Berner Kantonalbank AG grew +3.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.1 %, EBIT margin −1.7 %, tax rate −0.4 %, residual (interest, one-offs) +0.7 %. 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 Berner Kantonalbank AG
How large is the market capitalisation of Berner Kantonalbank AG (BEKN)?
The market capitalisation of Berner Kantonalbank AG is CHF 4.1B. 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 Berner Kantonalbank AG (BEKN)?
The price-to-sales ratio of Berner Kantonalbank AG is 7.36 (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 Berner Kantonalbank AG (BEKN)?
Earnings per share at Berner Kantonalbank AG are CHF 19.08 (price ÷ EPS = P/E 23.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Berner Kantonalbank AG (BEKN)?
The dividend yield of Berner Kantonalbank AG is 2.4% (payout 56.6%). 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 Berner Kantonalbank AG (BEKN)?
The net margin of Berner Kantonalbank AG is 32.3% (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 Berner Kantonalbank AG (BEKN)?
The return on equity (ROE) of Berner Kantonalbank AG is 6.0% (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 Berner Kantonalbank AG (BEKN)?
On an EBIT basis the return on assets of Berner 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 Berner Kantonalbank AG (BEKN)?
The operating margin of Berner Kantonalbank AG is 39.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Berner Kantonalbank AG (BEKN)?
Revenue at Berner Kantonalbank AG is growing +6.2% versus a year earlier (3y avg +8.6%). 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 Berner Kantonalbank AG (BEKN)?
Earnings per share at Berner Kantonalbank AG are growing −6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Berner Kantonalbank AG (BEKN) generate?
The free cash flow of Berner Kantonalbank AG is CHF 401M (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 Berner Kantonalbank AG (BEKN) carry?
The net debt of Berner Kantonalbank AG is CHF 9.9B (fiscal year 2025, ≈ 24.8 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