Swissquote Group Holding SA (SQN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Swissquote Group Holding SA CHF 6.12, price CHF 39.20, upside -84.4%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value CHF 6.12 · Strongly overvalued (−84%)
!Quality 56/100
✓Healthy Growth(revenue 5y +15.7 %/yr)
✓Highly profitable · 48.2% net margin (TTM)
✓generates free cash flow
·1.89% dividend yield
!Mixed vs. peers(7/14)
✓Wide moat81/100
!Evidence only low, so the estimate is less certain
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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 8.88 – CHF 55.80 · fair‑value band CHF 4.59 – CHF 7.65 · the CHF 39.20 price screens above the CHF 6.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Swissquote Group Holding SA provides online financial services to retail investors, affluent investors, and professional and institutional customers in Switzerland and internationally. It operates through Securities Trading and Leveraged Forex segments.
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Swissquote Group Holding SA provides online financial services to retail investors, affluent investors, and professional and institutional customers in Switzerland and internationally. It operates through Securities Trading and Leveraged Forex segments. The company operates an online bank that accepts multi-currency deposits/withdrawals, including crypto assets and precious metals. It also offers securities trading services, such as custody services by means of tools to trade in real time in a palette of asset classes and access a set of investment, decision making, risk monitoring, and margin lending services to retail, affluent, and high-net-worth individuals; corporate and family offices; fund managers; asset managers; and brokers and banks. In addition, the company provides access to over-the-counter trading of foreign exchange and contracts-for-differences. Further, it offers securities, forex, CFDs, cryptocurrencies, and thematic trading; portfolio solutions, sustainable investing, and savings plans; debit cards, online payments, eMortgages, and loans. The company was founded in 1996 and is headquartered in Gland, Switzerland.
Stock analysis
Swissquote Group Holding SA (SQN) currently trades at CHF 39.20, while our model-based Fair Value estimate is CHF 6.12, implying the stock looks roughly 540.6% overvalued today.
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Valuation
How firm this estimate is: it rests on 25 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: CHF 4.59 (bear) to CHF 7.65 (bull), the price of CHF 39.20 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 56/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Swissquote Group Holding SA reported revenue of CHF 796M in FY2025 versus CHF 531M in FY2021, a compound +10.6%/yr. Reported net income was CHF 366M in FY2025, compounding +17.4%/yr from FY2021.
Key figures
Market cap CHF 5.9B · P/E ratio 16.2 · P/S ratio 7.46 · EPS (TTM) CHF 2.42 · Dividend yield 1.9% · Net margin 46.1% · Return on equity 28.9% · Return on assets (EBIT) 2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −84%, SQN screens richer than that median.
Fair Value models
Bear CHF 4.59Fair Value CHF 6.12Bull CHF 7.65
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 1.23 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.7%
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.
+24.9%
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.
+15.7%
Start year 2020 (pandemic). Over 10 years: +17.8% a year
Revenue growth 23 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.
+15.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.6%
Dividend (yield on the price)1.9%
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.14% vs 33%, slowing
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.34% → 45%
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.
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.
+5.4%
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 forecasts.
News mood ⓘNews mood, the average tone of recent news (10 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Swissquote Group Holding SA 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.Capital Markets · 463 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−84% · Bottom 25%
Profitability
Return on equity (TTM)29% · Top 25%
Return on assets3% · Above median
Net margin (TTM)48% · Top 25%
Operating margin (TTM)45% · Above median
Growth and dividend
Revenue growth9% · Below median
Dividend yield (TTM)1.9% · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (TTM)16.2× · Pricier than median
P/B5.13× · Priciest 25%
P/S (TTM)9.45× · Priciest 25%
P/FCF9.9× · Priciest 25%
EV/EBITDA4.9× · Cheapest 25%
PEG1.26× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)44· sector 91
PAST (return on equity)100· sector 30
HEALTH (low debt)0· sector 95
DIVIDEND (yield)38· sector 41
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Swissquote Group Holding SA Fair Value". https://www.fairvalue-calculator.com/stock/SQN
Frequently asked questions
Is Swissquote Group Holding SA (SQN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of CHF 6.12 versus a price of CHF 39.20, about −84% upside (overvalued).
What is the fair value of SQN?
Our model-based fair value for Swissquote Group Holding SA is CHF 6.12 (as of Sep 23, 2026), built from audited fundamentals. The current price: CHF 39.20.
What is the quality score of SQN?
Swissquote Group Holding SA has a Quality Score of 56/100. 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 Swissquote Group Holding SA (SQN)?
Our model-based price target is the fair value of CHF 6.12 (as of Sep 23, 2026) from 2 valuation models. Cautious scenario CHF 4.59, optimistic scenario CHF 7.65. It is a calculation from audited fundamentals, not an analyst target.
What is the Swissquote Group Holding SA stock forecast for 2026?
Our models put fair value at CHF 6.12, about −84% upside versus a price of CHF 39.20 (overvalued). Cautious scenario CHF 4.59, optimistic scenario CHF 7.65. The calculation is refreshed regularly with new filings.
What is the revenue of Swissquote Group Holding SA (SQN)?
Swissquote Group Holding SA reported trailing-twelve-month revenue of about CHF 761M (latest available figure, as of Sep 23, 2026).
Does Swissquote Group Holding SA pay a dividend?
Swissquote Group Holding SA currently shows a dividend yield of about 1.89% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Swissquote Group Holding SA (SQN)?
For today's price to be fair in a discounted-cash-flow model, Swissquote Group Holding SA would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.7 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of SQN use?
Our models discount Swissquote Group Holding SA at 9.7 %: a base by market capitalisation (mid), damped by beta 1.08, 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 Swissquote Group Holding SA that is less than minus 40 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Swissquote Group Holding SA (SQN) delivered so far?
Over the past 5 years revenue at Swissquote Group Holding SA grew +15.7 % 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 Swissquote Group Holding SA (SQN) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Swissquote Group Holding SA (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 Swissquote Group Holding SA (SQN)?
The free-cash-flow yield on the price is 12.21 %: that much free cash flow Swissquote Group Holding SA produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Swissquote Group Holding SA (SQN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Swissquote Group Holding SA it is CHF 6.12 per share (as of Sep 23, 2026), against a price of CHF 39.20. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Swissquote Group Holding SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SQN trades above its calculated fair value: price CHF 39.20, fair value CHF 6.12, a gap of about −84% (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 SQN?
No. The price is what the market pays today (CHF 39.20); the fair value is what the company's own numbers justify (CHF 6.12). For Swissquote Group Holding SA the two are CHF 33.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Swissquote Group Holding SA worth?
The market values Swissquote Group Holding SA at about CHF 5.9B (market capitalisation, as of Sep 23, 2026). Per share that is CHF 39.20; our models calculate a fair value of CHF 6.12 per share.
What do the bullish and bearish scenarios say about SQN?
Our models span a range for Swissquote Group Holding SA: cautious scenario CHF 4.59, base CHF 6.12, optimistic CHF 7.65 per share (as of Sep 23, 2026, price CHF 39.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SQN?
Swissquote Group Holding SA trades at a price-to-earnings ratio of 16.2 (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 6.12 is built from several models across several years. Other multiples: PEG 1.3, P/B 5.1, P/S 9.5, EV/EBITDA 4.9.
What is the PEG ratio of SQN?
The PEG ratio of Swissquote Group Holding SA is 1.26 (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 Swissquote Group Holding SA (SQN)?
Balance-sheet figures for Swissquote Group Holding SA (as of Sep 23, 2026): return on equity 28.9%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is SQN from its 52-week high?
Swissquote Group Holding SA trades at CHF 39.20, about 28% below its 52-week high of CHF 54.48 and 7% above the low of CHF 36.80 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 6.12 is for.
Which stocks are comparable to Swissquote Group Holding SA?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Swissquote Group Holding SA stock attractive at the current price?
The data as of Sep 23, 2026: price CHF 39.20, calculated fair value CHF 6.12 (−84%), Quality Score 56/100, from 2 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 SQN calculated?
We run Swissquote Group Holding SA through 2 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 6.12, 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 14.1 % above its aggregate fair value. Swissquote Group Holding SA 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 Swissquote Group Holding SA (SQN)?
The closing price on Sep 23, 2026 was CHF 39.20. Our model-based fair value is CHF 6.12, about −84% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Swissquote Group Holding SA right now?
The price sits above even our optimistic bull case (CHF 7.65). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (56/100) 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.
Where does the earnings growth of Swissquote Group Holding SA (SQN) come from?
Earnings per share at Swissquote Group Holding SA grew +38.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +17.5 %, EBIT margin +17.2 %, tax rate −0.1 %, residual (interest, one-offs) +0.7 %. 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 Swissquote Group Holding SA
How large is the market capitalisation of Swissquote Group Holding SA (SQN)?
The market capitalisation of Swissquote Group Holding SA is CHF 5.9B. 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 Swissquote Group Holding SA (SQN)?
The price-to-sales ratio of Swissquote Group Holding SA is 7.46 (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 Swissquote Group Holding SA (SQN)?
Earnings per share at Swissquote Group Holding SA are CHF 2.42 (price ÷ EPS = P/E 16.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Swissquote Group Holding SA (SQN)?
The dividend yield of Swissquote Group Holding SA is 1.9% (payout 30.6%). 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 Swissquote Group Holding SA (SQN)?
The net margin of Swissquote Group Holding SA is 46.1% (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 Swissquote Group Holding SA (SQN)?
The return on equity (ROE) of Swissquote Group Holding SA is 28.9% (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 Swissquote Group Holding SA (SQN)?
On an EBIT basis the return on assets of Swissquote Group Holding SA is 2.4% (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 Swissquote Group Holding SA (SQN)?
The operating margin of Swissquote Group Holding SA is 44.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Swissquote Group Holding SA (SQN)?
Revenue at Swissquote Group Holding SA is growing +8.8% versus a year earlier (3y avg +24.9%). 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 Swissquote Group Holding SA (SQN)?
Earnings per share at Swissquote Group Holding SA are growing +38.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Swissquote Group Holding SA (SQN) hold?
Swissquote Group Holding SA holds more cash than debt, CHF 4.5B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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