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STOCK COMPARISON

BlackRock vs Partners: Fair Value & Quality

Both stocks run through our valuation models. Here is how BlackRock (BLK) and Partners (PGHN) compare, as of Oct 30, 2026.

As of Oct 30, 2026, Fair Value Calculator sees Partners as the more attractively valued of the two: BlackRock trades at $1,148 versus a fair value of $493 (−57.0%), while Partners trades at CHF 640 versus CHF 976 (+52.4%).
BlackRock
BLK · USD · Financials
−57.0%
upside to fair value
overvalued
Price$1,148
Fair Value$493
Quality59/100
Fair ValueQualityUptrend
Partners
PGHN.SW · CHF · Financials
+52.4%
upside to fair value
undervalued
PriceCHF 640
Fair ValueCHF 976
Quality81/100
Fair ValueQualityUptrend
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

BlackRockPartners
Valuation
25.6×P/E (TTM)14.0×
31.8×P/E ex one-offs (FY2025)n/a
17.6×Forward P/E (FY2027)14.0×
21.2×Median P/E at FY-end (10 FY, ex one-offs where documented)25.1×
6.63×P/S (TTM)6.69×
3.38× · book value is mostly goodwillP/B7.55×
15.9×EV/EBITDA11.6×
0.89×PEG2.40×
−57.0%Fair value upside+52.4%
2.0%Dividend yield7.2%
$22.40Dividend per shareCHF 46.00
Profitability
37.9%Operating margin59.4%
0.83×EBIT margin trend (5Y)1.60×
12.3%Return on equity75.4%
3.3%Return on assets19.7%
Growth
19.1%Revenue growth (YoY)-7.4%
10.7%Avg. growth/yr (3Y)14.6%
8.4%Avg. growth/yr (5Y)14.8%
+3.1%Value creation/yr+14.8%
Balance & size
10.0×Interest coverage (EBIT/interest)30.3×
0.23×Debt / equity0.61×
$189BMarket cap$20B
healthyGrowth qualitymixed
The P/E excluding one-off items is only shown where the special items are documented in the accounts (our own raw data or SEC filings). If one side lacks it, the reported P/E stays scored.
BlackRock, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 4 of the years ex one-offs: 21.2. Partners, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 25.1.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported. Partners: FY 2026 earnings estimate probably distorted by a special item known to analysts (40.69 is not between the FY 2025 actual of 48.45 and the FY 2027 estimate of 45.6).

Partners leads: 4 to 11 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

BlackRock Partners
ProfitabilityHow much profit the company makes from its sales and capital
37
79
Quality GrowthAre margins and returns getting better?
53
70
CashflowDo the profits arrive as real cash?
58
86
Financial strengthDebt, balance sheet and risk of trouble
59
52
InvestmentDoes it invest with discipline instead of growing at any price?
55
80
Low VolatilityHow calm the share price moves, does not count
51
60
Price momentumPrice momentum of the last 3 to 12 months, does not count
45
15
Near the 52-week highDistance to the 52-week high, does not count
65
6
New sharesBuys back shares or issues new ones?
68
88

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBlackRockPrice $1,148PartnersPrice CHF 640
DCF Models−51.6%below the price$555+52.4%above the priceCHF 976
Earnings-Based−29.3%below the price$812+83.9%above the priceCHF 1,178
Dividend Discount−72.1%below the price$320+17.1%above the priceCHF 750
Multiples−59.4%below the price$466−42.6%below the priceCHF 368
Asset-Basedn/a−92.6%below the priceCHF 47.40
Growth DCF−60.7%below the price$451+44.7%above the priceCHF 927
Economic Profit−70.7%below the price$336−45.5%below the priceCHF 349
Matching families6 of 7
Minimum−72.1%below the price$320−45.5%below the priceCHF 349
Maximum−29.3%below the price$812+83.9%above the priceCHF 1,178
Median−60.0%below the price$458+30.9%above the priceCHF 838
Geometric mean−59.4%below the price$466+6.8%close to the priceCHF 684
Ahead family by family0 of 66 of 6

Minimum, maximum, median and geometric mean only use the families both stocks have (matching families: 6 of 7), so a family without a value on one side does not distort the comparison. Ahead in a family is the stock whose fair value there sits higher relative to its price. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Family by family: Partners is ahead in 6 of 6 shared families, BlackRock in none.

BlackRock: 10 of 11 models see the stock below the current price.

Partners: 5 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

BlackRock
Price $1,148
Fair Value $493
Bear $307Bull $802
Partners
Price CHF 640
Fair Value CHF 976
Bear CHF 477Bull CHF 1,538

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

BlackRock · Financials

Quality score59 · above median
Fair value upside−57.0% · bottom 25%

Partners · Financials

Quality score81 · Top 25%
Fair value upside+52.4% · Top 25%

Bottom line

As of Oct 30, 2026, Fair Value Calculator sees Partners as the more attractively valued of the two: BlackRock trades at $1,148 versus a fair value of $493 (−57.0%), while Partners trades at CHF 640 versus CHF 976 (+52.4%).

Partners has the higher quality score (81/100).

Open Partners live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.