Leonteq AG (LEON) Fair Value & Analysis

Financial Services · CH · Market cap CHF 278M

Below-average quality, and screening another 27% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (CHF 13.87). The favourable scenario is already priced in.
• Solid but not exceptional quality (46/100) 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.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range CHF 10.64 – CHF 65.55 · fair‑value band CHF 11.61 – CHF 13.87 · the CHF 17.24 price screens above the CHF 12.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Leonteq AG (LEON) currently trades at CHF 17.24, while our model-based Fair Value estimate is CHF 12.52, implying the stock looks roughly 27.4% overvalued today. The Quality Score stands at 46/100 (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: medium).

Over the trailing twelve months, Leonteq AG generated revenue of CHF 170M at a net margin of -19.8%. Revenue declined 55.3% year over year. It earns a return on equity of -4.5%. Net debt stands at CHF 5.0B. Fundamentals as of Jul 18, 2026

Our scenario range runs from CHF 11.61 (bear case) to CHF 13.87 (bull case); at CHF 17.24, 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 26% below its 52-week high and 69% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -27%, LEON 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: Multiples (CHF 33.23) versus Asset-Based (CHF 26.19). Highest evidence: P/B Multiple (55).

Key figures & financial health

Quality Score breakdown

About the company

Leonteq AG provides derivative investment products and services in Switzerland, Europe, and Asia, and internationally. It offers structured products, such as capital protection products, yield enhancement products, participation products, leverage products, equities and equity indices, currencies, crypto assets, fund derivatives, quantitative investment …

Full company description

Leonteq AG provides derivative investment products and services in Switzerland, Europe, and Asia, and internationally. It offers structured products, such as capital protection products, yield enhancement products, participation products, leverage products, equities and equity indices, currencies, crypto assets, fund derivatives, quantitative investment strategies, and exchange traded products, as well as Islamic banking and finance services. The company also provides savings and pension products; Actively Managed Certificates; and risk management, hedging, market-making and secondary market servicing, advice on structuring, establishment of an issuance programme, design of information and marketing materials, production of termsheets and documentation, listing and settlement of structured investment products, provision of risk, regulatory and sales reporting related to structured investment products, and corporate centre services. Further, the company operates digital platform under the Omega name; LYNQS, a digital marketplace to issue and distribute products; and SHIP, a marketplace for structured products. Leonteq AG was formerly known as EFG Financial Products Holding AG and changed its name to Leonteq AG in June 2013. The company was incorporated in 2007 and is headquartered in Zurich, Switzerland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Leonteq AG reported revenue of CHF 182M in FY2025 versus CHF 429M in FY2021, a compound −19.3%/yr. Reported net income was −CHF 33.7M in FY2025.

LEON screens 27% overvalued. Compare with Fondul Proprietatea SA →

Peer Group

Asset Management · 971 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 Asset Management median · lower = cheaper

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.