Compagnie Financière Tradition SA (CFT) Fair Value & Analysis

Financial Services · CH · Market cap CHF 2.5B

A strong business, but screening 67% overvalued on our models.

What matters now

• A high-quality business (quality 78/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
• The price sits above even our optimistic bull case (CHF 111.58). The favourable scenario is already priced in.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range CHF 81.39 – CHF 320.50 · fair‑value band CHF 66.95 – CHF 111.58 · the CHF 273.50 price screens above the CHF 89.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Compagnie Financière Tradition SA (CFT) currently trades at CHF 273.50, while our model-based Fair Value estimate is CHF 89.27, implying the stock looks roughly 67.4% overvalued today. The Quality Score stands at 78/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Compagnie Financière Tradition SA generated revenue of CHF 1.1B at a net margin of 12.1%. Revenue grew 4.0% year over year. It earns a return on equity of 28.1%. The balance sheet holds a net cash position of CHF 72.2M. Fundamentals as of Jul 16, 2026

Our scenario range runs from CHF 66.95 (bear case) to CHF 111.58 (bull case); at CHF 273.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -67%, CFT screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models (CHF 233.67) versus Asset-Based (CHF 42.72). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Compagnie Financière Tradition SA operates as an interdealer broker of financial and non-financial products worldwide. The company provides capital market products, including basis swaps, credit and currency derivatives, inflation products, Latin American derivatives, non-deliverable swaps, overnight index swaps, short dates, and Turkish fixed income and …

Full company description

Compagnie Financière Tradition SA operates as an interdealer broker of financial and non-financial products worldwide. The company provides capital market products, including basis swaps, credit and currency derivatives, inflation products, Latin American derivatives, non-deliverable swaps, overnight index swaps, short dates, and Turkish fixed income and money market, as well as interest rate derivatives, options, and swaps. It offers energy and commodity products, such as coal, electricity, environmental products, natural gas, oil, precious metals, property derivatives, pulp and paper, refined products, soft commodities, tradition energy, weather, LNG, petroleum and LPG, and renewable energy credits. In addition, the company provides equities comprising cash and preferred equities, equity derivatives, ETFs, institutional cash equities, single-stock options, delta-one products, exotics, post-reorg equities, index variance and equity finance swaps, and dividend swaps; and fixed income products consisting of asset swaps credit, floating rate notes, futures and options, mortgages, repurchase agreements, and securities, as well as corporate, covered, and government bonds. Further, it offers foreign exchange (FX) products, such as emerging markets, FX listed futures and options, FX options, ParFX, spot and forward FX, and FX exotics; market data products; and money market products, including arbitrage, cash fund management, commercial paper, deposits and certificates of deposits, euro certificates of deposits, forward rate agreements, bank bills, federal funds, and short dates. Additionally, the company provides private equity secondaries, hedge fund secondaries, real estate secondaries, non-traditional secondaries; structured products, and GCC fixed income. The company was incorporated in 1959 and is based in Lausanne, Switzerland. Compagnie Financière Tradition SA is a subsidiary of FinanciÈRe Vermeer N.V.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Compagnie Financière Tradition SA reported revenue of CHF 1.1B in FY2025 versus CHF 876M in FY2021, a compound +6.3%/yr. Reported net income was CHF 134M in FY2025, compounding +19.7%/yr from FY2021.

CFT screens 67% overvalued. Compare with Huatai Securities Co →

Peer Group

Capital Markets · 425 stocks

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.

Valuation Multiples vs Capital Markets median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.