Schweizerische Nationalbank (SNBN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Schweizerische Nationalbank CHF 6,340, price CHF 3,150, upside +101.3%, quality 40 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 23, 2026.
How to read this chart
60‑month range CHF 2,930 – CHF 7,815 · fair‑value band CHF 4,780 – CHF 18,073 · the CHF 3,150 price screens below the CHF 6,340 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Schweizerische Nationalbank, an independent central bank, provides banking services to the Swiss Confederation. Its services include account management, payment transactions, liquidity management, custody of securities, and the issuance of money market debt register claims and Confederation bonds on behalf of and for the account of the Confederation.
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Schweizerische Nationalbank, an independent central bank, provides banking services to the Swiss Confederation. Its services include account management, payment transactions, liquidity management, custody of securities, and the issuance of money market debt register claims and Confederation bonds on behalf of and for the account of the Confederation. The company also provides digital services, such as Iconomix, a digital educational programme; data portals; live and recorded news; RSS feed, time schedule, and news alerts; and on-site services, including conferences and seminars, workspaces, and books and academic journals on monetary policy, economics, and cash and banking, as well as operates a study center. Schweizerische Nationalbank was founded in 1907 and is headquartered in Bern, Switzerland.
Stock analysis
Schweizerische Nationalbank (SNBN) currently trades at CHF 3,150, while our model-based Fair Value estimate is CHF 6,340, implying the stock looks roughly 50.3% undervalued today.
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Valuation
How firm this estimate is: it rests on 18 models at a data quality of 95/100, which puts the evidence level at medium.
Scenario range: CHF 4,780 (bear) to CHF 18,073 (bull), the price of CHF 3,150 sits below 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 40/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Schweizerische Nationalbank reported revenue of −CHF 7.8B in FY2025 versus CHF 26.6B in FY2021. Reported net income was CHF 26.1B in FY2025, compounding −0.1%/yr from FY2021.
Key figures
Market cap CHF 315M · P/E ratio 0.0 · EPS (TTM) CHF 189,675 · Net margin 97.8% · Return on equity 12.0% · Return on assets (EBIT) −0.1% · Operating margin 132% · Revenue (TTM) CHF 19.4B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at 101%, SNBN screens cheaper than that median.
Fair Value models
Bear CHF 4,780Fair Value CHF 6,340Bull CHF 18,073
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 139,268 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.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.66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+964.2%
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.
+50.1%
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.
+12.8%
Revenue growth 20 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.
+19.8%
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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.
−0.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.1%
Dividend (yield on the price)0.0%
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.0% vs −2%, steady
Profit margin 2019 to 2024 ⓘ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.99% → 90%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare Schweizerische Nationalbank with another stock
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 · 1076 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside+101% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets2% · Top 25%
Net margin (TTM)98% · Top 25%
Operating margin (TTM)132% · Top 25%
Growth and dividend
Revenue growth−26% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.59× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Schweizerische Nationalbank Fair Value". https://www.fairvalue-calculator.com/stock/SNBN
Frequently asked questions
Is Schweizerische Nationalbank (SNBN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of CHF 6,340 versus a price of CHF 3,150, about +101% upside (undervalued).
What is the fair value of SNBN?
Our model-based fair value for Schweizerische Nationalbank is CHF 6,340 (as of Sep 23, 2026), built from audited fundamentals. The current price: CHF 3,150.
What is the quality score of SNBN?
Schweizerische Nationalbank 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 price target for Schweizerische Nationalbank (SNBN)?
Our model-based price target is the fair value of CHF 6,340 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario CHF 4,780, optimistic scenario CHF 18,073. It is a calculation from audited fundamentals, not an analyst target.
What is the Schweizerische Nationalbank stock forecast for 2026?
Our models put fair value at CHF 6,340, about +101% upside versus a price of CHF 3,150 (undervalued). Cautious scenario CHF 4,780, optimistic scenario CHF 18,073. The calculation is refreshed regularly with new filings.
What is the revenue of Schweizerische Nationalbank (SNBN)?
Schweizerische Nationalbank reported trailing-twelve-month revenue of about CHF 19.4B (latest available figure, as of Sep 23, 2026).
What growth is priced into Schweizerische Nationalbank (SNBN)?
For today's price to be fair in a discounted-cash-flow model, Schweizerische Nationalbank would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of SNBN use?
Our models discount Schweizerische Nationalbank at 9.6 %: a base by market capitalisation (small), damped by beta 0.24, 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 Schweizerische Nationalbank that is less than minus 40 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Schweizerische Nationalbank (SNBN) delivered so far?
Over the past 5 years revenue at Schweizerische Nationalbank grew +12.8 % a year. The price currently implies less than minus 40 % 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 Schweizerische Nationalbank (SNBN) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into Schweizerische Nationalbank (less than minus 40 % 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 Schweizerische Nationalbank (SNBN)?
The free-cash-flow yield on the price is 24.70 %: that much free cash flow Schweizerische Nationalbank produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Schweizerische Nationalbank (SNBN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Schweizerische Nationalbank it is CHF 6,340 per share (as of Sep 23, 2026), against a price of CHF 3,150. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Schweizerische Nationalbank stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SNBN trades below its calculated fair value: price CHF 3,150, fair value CHF 6,340, a gap of about +101% (undervalued). 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 SNBN?
No. The price is what the market pays today (CHF 3,150); the fair value is what the company's own numbers justify (CHF 6,340). For Schweizerische Nationalbank the two are CHF 3,190 per share apart. That gap is exactly why we show both numbers side by side.
How much is Schweizerische Nationalbank worth?
The market values Schweizerische Nationalbank at about CHF 315M (market capitalisation, as of Sep 23, 2026). Per share that is CHF 3,150; our models calculate a fair value of CHF 6,340 per share.
What do the bullish and bearish scenarios say about SNBN?
Our models span a range for Schweizerische Nationalbank: cautious scenario CHF 4,780, base CHF 6,340, optimistic CHF 18,073 per share (as of Sep 23, 2026, price CHF 3,150). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SNBN?
Schweizerische Nationalbank trades at a price-to-earnings ratio of 0.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 6,340 is built from several models across several years. Other multiples: PEG 1.2, P/S 0.0, EV/EBITDA 3.7.
What is the PEG ratio of SNBN?
The PEG ratio of Schweizerische Nationalbank is 1.25 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Schweizerische Nationalbank (SNBN)?
Balance-sheet figures for Schweizerische Nationalbank (as of Sep 23, 2026): return on equity 12.0%, debt of 0.59 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is SNBN from its 52-week high?
Schweizerische Nationalbank trades at CHF 3,150, about 20% below its 52-week high of CHF 3,933 and 8% above the low of CHF 2,930 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 6,340 is for.
Which stocks are comparable to Schweizerische Nationalbank?
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 Schweizerische Nationalbank stock attractive at the current price?
The data as of Sep 23, 2026: price CHF 3,150, calculated fair value CHF 6,340 (+101%), Quality Score 40/100, from 4 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 SNBN calculated?
We run Schweizerische Nationalbank through 4 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 6,340, 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 14.0 % above its aggregate fair value. Schweizerische Nationalbank currently trades 101 % below its own fair value, and the market average says nothing about that. 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 Schweizerische Nationalbank (SNBN)?
The closing price on Sep 24, 2026 was CHF 3,150. Our model-based fair value is CHF 6,340, about +101% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Schweizerische Nationalbank right now?
The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (CHF 4,780). The market is more pessimistic than our downside scenario. The model range is unusually wide (CHF 4,780 to CHF 18,073). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Schweizerische Nationalbank
How large is the market capitalisation of Schweizerische Nationalbank (SNBN)?
The market capitalisation of Schweizerische Nationalbank is CHF 315M. 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 are the earnings per share of Schweizerische Nationalbank (SNBN)?
Earnings per share at Schweizerische Nationalbank are CHF 189,675 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Schweizerische Nationalbank (SNBN)?
The net margin of Schweizerische Nationalbank is 97.8% (last twelve months). 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 Schweizerische Nationalbank (SNBN)?
The return on equity (ROE) of Schweizerische Nationalbank is 12.0% (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 Schweizerische Nationalbank (SNBN)?
On an EBIT basis the return on assets of Schweizerische Nationalbank is −0.1% (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 Schweizerische Nationalbank (SNBN)?
The operating margin of Schweizerische Nationalbank is 132% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Schweizerische Nationalbank (SNBN)?
Revenue at Schweizerische Nationalbank is growing −25.8% versus a year earlier. 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 Schweizerische Nationalbank (SNBN)?
Earnings per share at Schweizerische Nationalbank are growing −25.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Schweizerische Nationalbank (SNBN) carry?
The net debt of Schweizerische Nationalbank is CHF 659B (fiscal year 2025). 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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