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Hypothekarbank Lenzburg AG (HBLN) Fair Value & Analysis

Financial Services · CH · Market cap CHF 300M

HL Hypothekarbank Lenzburg AG HBLN · SW
PriceCHF 4,180
Fair ValueCHF 3,620
Upside-13.4%
Quality40/100
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Expensive Growth
Solidly profitable · 14.6% net margin
Moderate debt · negative free cash flow
2.88% dividend yield
Mixed vs. peers (5/12)
Narrow moat 42/100
Evidence: High Range CHF 2,715 – CHF 4,525 Share as image

Fair value as of: Jul 13, 2026

From 9 valuation models · updated 28 days ago

Share price +0.5% over the past month.

Below-average quality, and screening another 13% overvalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from CHF 2,715 (bear) to CHF 4,525 (bull), base CHF 3,620. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 40/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

CHF 4,220 CHF 3,538 Fair Value CHF 3,620 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range CHF 3,538 – CHF 4,220 · fair‑value band CHF 2,715 – CHF 4,525 · the CHF 4,180 price screens above the CHF 3,620 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

Full chart & analysis →

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Analysis

Hypothekarbank Lenzburg AG (HBLN) currently trades at CHF 4,180, while our model-based Fair Value estimate is CHF 3,620, implying the stock looks roughly 13.4% overvalued today. The Quality Score stands at 40/100 (below-average 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, Hypothekarbank Lenzburg AG generated revenue of CHF 137M at a net margin of 14.6%. Revenue grew 19.8% year over year. It earns a return on equity of 3.4%. Net debt stands at CHF 1.4B. Fundamentals as of Jul 13, 2026

Our scenario range runs from CHF 2,715 (bear case) to CHF 4,525 (bull case); at CHF 4,180, the current price sits within 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 1% below its 52-week high and 9% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -25% fair-value upside, at -13%, HBLN screens cheaper 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.

Model 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. Evidence
Highest evidence
Residual Income CHF 5,370 CHF 5,180 CHF 4,228 76
Gordon GGM CHF 934.31 CHF 1,684 CHF 2,318 70
P/E Multiple CHF 2,715 CHF 3,620 CHF 4,525 63
All 9 models by family
DCF Models
Owner Earnings CHF 17,190 CHF 17,632 CHF 18,205 31
Earnings-Based
Graham-Dodd CHF 1,894 CHF 5,320 CHF 7,000 54
Lynch FV CHF 1,076 CHF 1,537 CHF 1,998 50
Dividend Discount
Gordon GGM CHF 934.31 CHF 1,684 CHF 2,318 70
DDM Multi-Stage CHF 934.31 CHF 1,393 CHF 1,799 61
Multiples
P/E Multiple CHF 2,715 CHF 3,620 CHF 4,525 63
P/B Multiple CHF 3,551 CHF 4,734 CHF 5,918 55
Asset-Based
NCAV (Graham) CHF 3,865 CHF 5,179 CHF 7,730 50
Economic Profit
Residual Income CHF 5,370 CHF 5,180 CHF 4,228 76

Widest divergence: DCF Models (CHF 17,632) versus Dividend Discount (CHF 1,393). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) CHF 137M
Revenue growth (YoY) +19.8%
Net margin 14.6%
Return on equity 3.4%
Free cash flow −CHF 5.4M FY2025
P/E ratio 15.0
More key figures
Operating margin 17.4%
EPS (TTM) CHF 279.14
Dividend yield 2.9%
EPS growth (YoY) +11.2%
Net debt CHF 1.4B FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 48 · Market factors (momentum, volatility) 66

Profitability 23
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Hypothekarbank Lenzburg AG provides various banking services and products in Switzerland. The company offers savings accounts, including youth, extra, shareholder, and rental deposit savings accounts, as well as personal, mortgage, and property loans.

Full company description

Hypothekarbank Lenzburg AG provides various banking services and products in Switzerland. The company offers savings accounts, including youth, extra, shareholder, and rental deposit savings accounts, as well as personal, mortgage, and property loans. It also provides debit, credit, and travel cards; wealth management, consulting, investment, treasury bonds, and fixed-term deposit services; pension products, pension securities solutions, pension and financial planning, matrimonial property and inheritance law advice, and tax services; and internet banking services. The company was founded in 1868 and is headquartered in Lenzburg, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hypothekarbank Lenzburg AG reported revenue of CHF 137M in FY2025 versus CHF 79.0M in FY2021, a compound +14.8%/yr. Reported net income was CHF 20.0M in FY2025, compounding +2.3%/yr from FY2021.

Growth Quality 55/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
CHF 137M
Latest YoY
−5.5%
Avg. growth/yr (3Y) 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.
+16.8%
Avg. growth/yr (5Y) 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.
+13.1%
Avg. growth/yr (22Y) 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.
+3.8%
Revenue +14.8%/yr
FY21 CHF 79.0M
FY22 CHF 86.1M
FY23 CHF 132M
FY24 CHF 145M
FY25 CHF 137M
Net income +2.3%/yr
FY21 CHF 18.3M
FY22 CHF 18.6M
FY23 CHF 21.2M
FY24 CHF 20.5M
FY25 CHF 20.0M
Character of growth · EPS growth decomposed (2014-2025) −0.4 % p.a.
Revenue per share +8.2 pp

of which total revenue +8.1 pp · buybacks/dilution +0.0 pp

EBIT margin −8.1 pp
Tax rate +0.6 pp
Residual (interest, one-offs) −1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

HBLN screens 13% overvalued. Compare with Federal Home Loan Mortgage Corporation →

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Cite: Fair Value Calculator (2026). "Hypothekarbank Lenzburg AG Fair Value". https://www.fairvalue-calculator.com/stock/HBLN

Peer Group

Mortgage Finance · 90 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.

Quality Score 50 · Below median
Fair Value upside −13% · Above median
Return on equity (TTM) 3% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 15% · Below median
Operating margin (TTM) 17% · Bottom 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 2.9% · Below median
Debt / equity 1.32× · Lower than median

Valuation Multiples vs Mortgage Finance median · lower = cheaper

P/E (TTM) 15.0× · Cheaper than median
P/B 0.67× · Cheaper than median
P/S (TTM) 2.71× · Pricier than median

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 15 · sector 0
FUTURE 99 · sector 79
PAST 13 · sector 55
HEALTH 34 · sector 0
DIVIDEND 58 · sector 80

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Mortgage Finance stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

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Frequently asked questions

Is Hypothekarbank Lenzburg AG (HBLN) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of CHF 3,620 versus a price of CHF 4,180, about −13% (overvalued).
What is the fair value of HBLN?
Our model-based fair value for Hypothekarbank Lenzburg AG is CHF 3,620 (as of Jul 13, 2026), built from audited fundamentals. The current price is CHF 4,180.
What is the quality score of HBLN?
Hypothekarbank Lenzburg AG has a Quality Score of 40/100. 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 revenue of Hypothekarbank Lenzburg AG (HBLN)?
Hypothekarbank Lenzburg AG reported trailing-twelve-month revenue of about CHF 137M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of HBLN?
The net profit margin of Hypothekarbank Lenzburg AG is about 14.6%, meaning it keeps roughly 14.6% of revenue as net income. Based on the latest reported figures.
Does Hypothekarbank Lenzburg AG pay a dividend?
Hypothekarbank Lenzburg AG currently shows a dividend yield of about 2.90% relative to its recent price (as of Jul 13, 2026).

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.

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