Cembra Money Bank AG (CMBN) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Cembra Money Bank AG CHF 67.29, price CHF 86.25, upside -22.0%, quality 58 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range CHF 42.93 – CHF 99.85 · fair‑value band CHF 45.11 – CHF 84.11 · the CHF 86.25 price screens above the CHF 67.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Cembra Money Bank AG provides consumer finance products and services in Switzerland.
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Cembra Money Bank AG provides consumer finance products and services in Switzerland. The company offers savings and deposit products; cash and personal loans, and auto loans and leasing products; credit card and invoice financing receivables; leasing services for new and used vehicles, including cars, light commercial vehicles, motorcycles, and caravans, as well as corporate leasing services; and investment securities comprising debt securities. It also provides financial protection products for involuntary unemployment, accident, illness, or disability; travel, cyber, and card protection insurance products; car insurance products; investment products; and credit cards, mobile payment, and online banking services. The company serves private and self-employed individuals, and small enterprises. It operates through a network of branches and online distribution channels; and credit card partners, independent intermediaries, and car dealers. The company was formerly known as GE Money Bank Aktiengesellschaft and changed its name to Cembra Money Bank AG in October 2013. Cembra Money Bank AG was founded in 1912 and is headquartered in Zurich, Switzerland.
Stock analysis
Cembra Money Bank AG (CMBN) currently trades at CHF 86.25, while our model-based Fair Value estimate is CHF 67.29, implying the stock looks roughly 28.2% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 64.29 per share, and 0 of the 6 models we run sit above the CHF 86.25 price.
Bear case: the Asset-Based group reads lowest at CHF 30.77, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: CHF 45.11 (bear) to CHF 84.11 (bull), the price of CHF 86.25 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 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cembra Money Bank AG reported revenue of CHF 635M in FY2025 versus CHF 513M in FY2021, a compound +5.5%/yr. Reported net income was CHF 180M in FY2025, compounding +2.7%/yr from FY2021.
Key figures
Market cap CHF 2.6B · P/E ratio 14.1 · P/S ratio 4.00 · EPS (TTM) CHF 6.11 · Dividend yield 4.6% · Net margin 28.3% · Return on equity 13.7% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −22%, CMBN screens cheaper than that median.
Fair Value models
Bear CHF 45.11Fair Value CHF 67.29Bull CHF 84.11
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (CHF 4.55 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.Evidence ⓘEvidence = 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.68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.4%
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.
+5.7%
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.
+3.9%
Start year 2020 (pandemic). Over 10 years: +6.3% a year
Revenue growth 18 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.
+3.0%
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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.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)4.6%
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.1.8% vs 1.8%, 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% → 35%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
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).
+5.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−1.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +4.8% a year for the price and −1.6% for the forecasts.
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 · 1058 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside−22.0% · Below median
Profitability
Return on equity (TTM)13.7% · Top 25%
Return on assets2.3% · Top 25%
Net margin (TTM)38.3% · Top 25%
Operating margin (TTM)49.3% · Above median
Growth and dividend
Revenue growth−4.4% · Bottom 25%
Dividend yield (TTM)4.6% · Top 25%
Balance sheet
Debt / equity1.45× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cembra Money Bank AG Fair Value". https://www.fairvalue-calculator.com/stock/CMBN
Frequently asked questions
Is Cembra Money Bank AG (CMBN) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of CHF 67.29 versus a price of CHF 86.25, about −22% upside (overvalued).
What is the fair value of CMBN?
Our model-based fair value for Cembra Money Bank AG is CHF 67.29 (as of Sep 27, 2026), built from audited fundamentals. The current price: CHF 86.25.
What is the quality score of CMBN?
Cembra Money Bank AG has a Quality Score of 58/100. 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 Cembra Money Bank AG (CMBN)?
Our model-based price target is the fair value of CHF 67.29 (as of Sep 27, 2026) from 6 valuation models. Cautious scenario CHF 45.11, optimistic scenario CHF 84.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Cembra Money Bank AG stock forecast for 2026?
Our models put fair value at CHF 67.29, about −22% upside versus a price of CHF 86.25 (overvalued). Cautious scenario CHF 45.11, optimistic scenario CHF 84.11. The calculation is refreshed regularly with new filings.
What is the revenue of Cembra Money Bank AG (CMBN)?
Cembra Money Bank AG reported trailing-twelve-month revenue of about CHF 469M (latest available figure, as of Sep 27, 2026).
Does Cembra Money Bank AG pay a dividend?
Cembra Money Bank AG currently shows a dividend yield of about 4.59% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Cembra Money Bank AG (CMBN)?
For today's price to be fair in a discounted-cash-flow model, Cembra Money Bank AG would have to grow free cash flow by +5.5 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of CMBN use?
Our models discount Cembra Money Bank AG at 8.3 %: a base by market capitalisation (mid), damped by beta 0.17, 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 Cembra Money Bank AG that is +5.5 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Cembra Money Bank AG (CMBN) delivered so far?
Over the past 5 years revenue at Cembra Money Bank AG grew +3.9 % a year. The price currently implies +5.5 % 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 Cembra Money Bank AG (CMBN) growing?
The median revenue growth in the sector is +9.1 % a year. That is the yardstick for the growth priced into Cembra Money Bank AG (+5.5 % 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 Cembra Money Bank AG (CMBN)?
The free-cash-flow yield on the price is 8.02 %: that much free cash flow Cembra Money Bank AG produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cembra Money Bank AG (CMBN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cembra Money Bank AG it is CHF 67.29 per share (as of Sep 27, 2026), against a price of CHF 86.25. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Cembra Money Bank AG stock overvalued or undervalued in 2026?
As of Sep 27, 2026, CMBN trades above its calculated fair value: price CHF 86.25, fair value CHF 67.29, a gap of about −22% (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 CMBN?
No. The price is what the market pays today (CHF 86.25); the fair value is what the company's own numbers justify (CHF 67.29). For Cembra Money Bank AG the two are CHF 18.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cembra Money Bank AG worth?
The market values Cembra Money Bank AG at about CHF 2.6B (market capitalisation, as of Sep 27, 2026). Per share that is CHF 86.25; our models calculate a fair value of CHF 67.29 per share.
What do the bullish and bearish scenarios say about CMBN?
Our models span a range for Cembra Money Bank AG: cautious scenario CHF 45.11, base CHF 67.29, optimistic CHF 84.11 per share (as of Sep 27, 2026, price CHF 86.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CMBN?
Cembra Money Bank AG trades at a price-to-earnings ratio of 14.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 67.29 is built from several models across several years. Other multiples: P/B 1.9, P/S 5.5, EV/EBITDA 15.5.
How solid is the balance sheet of Cembra Money Bank AG (CMBN)?
Balance-sheet figures for Cembra Money Bank AG (as of Sep 27, 2026): return on equity 13.7%, debt of 1.45 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is CMBN from its 52-week high?
Cembra Money Bank AG trades at CHF 86.25, about 14% below its 52-week high of CHF 99.85 and 1% above the low of CHF 85.11 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 67.29 is for.
Which stocks are comparable to Cembra Money Bank AG?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Intesa Sanpaolo S.p.A, 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 Cembra Money Bank AG stock attractive at the current price?
The data as of Sep 27, 2026: price CHF 86.25, calculated fair value CHF 67.29 (−22%), Quality Score 58/100, 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 CMBN calculated?
We run Cembra Money Bank AG 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 67.29, 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 15.9 % above its aggregate fair value. Cembra Money Bank 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 Cembra Money Bank AG (CMBN)?
The closing price on Sep 28, 2026 was CHF 86.25. Our model-based fair value is CHF 67.29, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cembra Money Bank AG right now?
The price sits above even our optimistic bull case (CHF 84.11). The favourable scenario is already priced in. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (CHF 45.11 to CHF 84.11) leaves room in how you read the outcome. 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 Cembra Money Bank AG (CMBN) come from?
Earnings per share at Cembra Money Bank AG grew +1.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.1 %, EBIT margin −2.2 %, tax rate +0.2 %, residual (interest, one-offs) −1.2 %. 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 Cembra Money Bank AG
How large is the market capitalisation of Cembra Money Bank AG (CMBN)?
The market capitalisation of Cembra Money Bank AG is CHF 2.6B. 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 Cembra Money Bank AG (CMBN)?
The price-to-sales ratio of Cembra Money Bank AG is 4.00 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cembra Money Bank AG (CMBN)?
Earnings per share at Cembra Money Bank AG are CHF 6.11 (price ÷ EPS = P/E 14.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cembra Money Bank AG (CMBN)?
The dividend yield of Cembra Money Bank AG is 4.6% (payout 64.7%). 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 Cembra Money Bank AG (CMBN)?
The net margin of Cembra Money Bank AG is 28.3% (fiscal year 2025). 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 Cembra Money Bank AG (CMBN)?
The return on equity (ROE) of Cembra Money Bank AG is 13.7% (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 Cembra Money Bank AG (CMBN)?
On an EBIT basis the return on assets of Cembra Money Bank AG is 2.9% (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 Cembra Money Bank AG (CMBN)?
The operating margin of Cembra Money Bank AG is 49.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cembra Money Bank AG (CMBN)?
Revenue at Cembra Money Bank AG is growing −4.4% versus a year earlier (3y avg +5.7%). 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 Cembra Money Bank AG (CMBN)?
Earnings per share at Cembra Money Bank AG are growing +0.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cembra Money Bank AG (CMBN) carry?
The net debt of Cembra Money Bank AG is CHF 2.0B (fiscal year 2025, ≈ 9.9 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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