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Vaudoise Assurances Holding (VAHN) Fair Value & Analysis

Financial Services · CH · Market cap CHF 2.3B

VA Vaudoise Assurances Holding VAHN · SW
PriceCHF 790.00
Fair ValueCHF 697.93
Upside-11.7%
Quality52/100
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Healthy Growth
Thin margins · 9.8% net margin
Low debt · generates free cash flow
3.32% dividend yield
Trails peers (5/15)
Narrow moat 41/100
Evidence: High Range CHF 523.45 – CHF 872.42 Share as image

Fair value as of: Jul 16, 2026

From 6 valuation models · updated 24 days ago

Share price −1.9% over the past month.

A solid business, but screening 12% 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 523.45 (bear) to CHF 872.42 (bull), base CHF 697.93. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 52/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

CHF 822.00 CHF 319.03 Fair Value CHF 697.93 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range CHF 319.03 – CHF 822.00 · fair‑value band CHF 523.45 – CHF 872.42 · the CHF 790.00 price screens above the CHF 697.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Vaudoise Assurances Holding (VAHN) currently trades at CHF 790.00, while our model-based Fair Value estimate is CHF 697.93, implying the stock looks roughly 11.7% overvalued today. The Quality Score stands at 52/100 (solid 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, Vaudoise Assurances Holding generated revenue of CHF 1.6B at a net margin of 9.8%. Revenue grew 13.7% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of CHF 77.5M. Fundamentals as of Jul 16, 2026

Our scenario range runs from CHF 523.45 (bear case) to CHF 872.42 (bull case); at CHF 790.00, 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 4% below its 52-week high and 40% 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 -12%, VAHN 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 BearBaseBull Evidence
Highest evidence
Residual Income CHF 708.07 CHF 726.60 CHF 720.27 76
Gordon GGM CHF 202.14 CHF 226.23 CHF 257.52 70
P/E Multiple CHF 523.45 CHF 697.93 CHF 872.42 63
All 6 models by family
Dividend Discount
Gordon GGM CHF 202.14 CHF 226.23 CHF 257.52 70
DDM Multi-Stage CHF 202.14 CHF 257.85 CHF 328.54 61
Multiples
P/E Multiple CHF 523.45 CHF 697.93 CHF 872.42 63
P/B Multiple CHF 684.51 CHF 912.68 CHF 1,141 55
Asset-Based
NCAV (Graham) CHF 456.19 CHF 611.29 CHF 912.38 50
Economic Profit
Residual Income CHF 708.07 CHF 726.60 CHF 720.27 76

Widest divergence: Economic Profit (CHF 726.60) versus Dividend Discount (CHF 226.23). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) CHF 1.6B
Revenue growth (YoY) +13.7%
Net margin 9.8%
Return on equity 6.1%
Free cash flow CHF 101M FY2025
P/E ratio 15.3
More key figures
Operating margin 9.5%
EPS (TTM) CHF 53.68
Dividend yield 3.5%
EPS growth (YoY) +36.2%
Net cash CHF 77.5M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 73

Profitability 24
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 77
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

Vaudoise Assurances Holding SA provides insurance products and services primarily in Switzerland. The company offers mobility insurance products, including car, motorcycle and scooter, classic car, motorhome, boat, and e-bike insurance, as well as legal protection for traffic; household and private liability, private building, construction, golf, valuable …

Full company description

Vaudoise Assurances Holding SA provides insurance products and services primarily in Switzerland. The company offers mobility insurance products, including car, motorcycle and scooter, classic car, motorhome, boat, and e-bike insurance, as well as legal protection for traffic; household and private liability, private building, construction, golf, valuable item, and pet insurance, as well as private legal protection insurance products; and computer assistance and troubleshooting, breakdown and home assistance, repatriation and medical care, and travel and cancellation insurance products. It also provides loss of earning due to illness, occupational pension plan, and accident insurance products; property protection solutions, such as business inventory, technical equipment, construction, commercial vehicle, and building insurance products; and corporate civil liability, corporate legal protection, and transport insurance products, as well as business assistance and services; and pensions and mortgage loans. The company sells its products through a network of agencies. The company was founded in 1895 and is headquartered in Lausanne, Switzerland. Vaudoise Assurances Holding SA operates as a subsidiary of Mutuelle Vaudoise, Société Coopérative.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vaudoise Assurances Holding reported revenue of CHF 1.6B in FY2025 versus CHF 1.4B in FY2021, a compound +4.7%/yr. Reported net income was CHF 156M in FY2025, compounding +3.9%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 1.6B
Latest YoY
+2.7%
Avg. growth/yr (3Y)
+6.4%
Avg. growth/yr (5Y)
+4.4%
Avg. growth/yr (23Y)
+0.6%
Revenue +4.7%/yr
FY21 CHF 1.4B
FY22 CHF 1.4B
FY23 CHF 1.4B
FY24 CHF 1.6B
FY25 CHF 1.6B
Net income +3.9%/yr
FY21 CHF 134M
FY22 CHF 131M
FY23 CHF 132M
FY24 CHF 147M
FY25 CHF 156M

VAHN screens 12% overvalued. Compare with Berkshire Hathaway Inc →

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Cite: Fair Value Calculator (2026). "Vaudoise Assurances Holding Fair Value". https://www.fairvalue-calculator.com/stock/VAHN

Peer Group

Insurance - Diversified · 84 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 54 · Below median
Fair Value upside −12% · Below median
Return on equity (TTM) 6% · Bottom 25%
Return on assets 1% · Below median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 9% · Below median
Revenue growth 14% · Above median
Dividend yield (TTM) 3.3% · Above median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Insurance - Diversified median · lower = cheaper

P/E (TTM) 14.9× · Pricier than median
P/B 1.09× · Cheaper than median
P/S (TTM) 1.81× · Pricier than 75% of peers
P/FCF 28.7× · Pricier than 75% of peers
EV/EBITDA 15.4× · Pricier than 75% of peers
PEG 4.42× · Pricier than 75% of peers

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 18 · sector 44
FUTURE 69 · sector 31
PAST 24 · sector 49
HEALTH 97 · sector 89
DIVIDEND 66 · sector 45

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 Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Berkshire Hathaway Inc BRKB 8,562 MXN 10,844 MXN +27%
Allianz SE ALV €421.00 €369.31 -12%
Zurich Insurance Group ZURN CHF 624.40 CHF 619.80 -1%
AXA SA AXAN 888.28 MXN 1,249 MXN +41%
Assicurazioni Generali S.p.A G €42.90 €12.18 -72%
Sun Life Financial Inc SLF C$114.20 C$87.83 -23%
BB Seguridade Participações S.A BBSE3 R$40.71 R$60.39 +48%
Tryg A/S TRYG kr 154.00 kr 116.45 -24%
PT Sinar Mas Multiartha Tbk SMMA 20,625 IDR 4,176 IDR -80%
Caixa Seguridade Participações S.A CXSE3 R$21.77 R$18.60 -15%

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Frequently asked questions

Is Vaudoise Assurances Holding (VAHN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of CHF 697.93 versus a price of CHF 790.00, about −12% (overvalued).
What is the fair value of VAHN?
Our model-based fair value for Vaudoise Assurances Holding is CHF 697.93 (as of Jul 16, 2026), built from audited fundamentals. The current price is CHF 790.00.
What is the quality score of VAHN?
Vaudoise Assurances Holding has a Quality Score of 52/100. 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 Vaudoise Assurances Holding (VAHN)?
Vaudoise Assurances Holding reported trailing-twelve-month revenue of about CHF 1.6B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of VAHN?
The net profit margin of Vaudoise Assurances Holding is about 9.8%, meaning it keeps roughly 9.8% of revenue as net income. Based on the latest reported figures.
Does Vaudoise Assurances Holding pay a dividend?
Vaudoise Assurances Holding currently shows a dividend yield of about 3.46% relative to its recent price (as of Jul 16, 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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