Vaudoise Assurances Holding SA (VAHN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Vaudoise Assurances Holding SA stock CHF 775, price CHF 742, upside +4.5%, quality 54 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range CHF 319.03 – CHF 822.00 · fair‑value band CHF 728.15 – CHF 889.22 · the CHF 742.00 price screens below the CHF 775.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Vaudoise Assurances Holding SA provides insurance products and services primarily in Switzerland.
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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.
Stock analysis
Vaudoise Assurances Holding SA (VAHN) currently trades at CHF 742.00, while our model-based Fair Value estimate is CHF 775.21, so the stock looks roughly fairly valued today (gap 4.3%).
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 970.86 per share, and 2 of the 6 models we run sit above the CHF 742.00 price.
Bear case: the Dividend Discount group reads lowest at CHF 277.13, and 4 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: CHF 728.15 (bear) to CHF 889.22 (bull), the price of CHF 742.00 sits inside 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 54/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Vaudoise Assurances Holding SA 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.
Key figures
Market cap CHF 2.2B Mid · P/E ratio 13.8 · P/S ratio 1.32 · EPS (TTM) CHF 53.24 · Dividend yield 3.6% · Net margin 9.7% · Return on equity 6.0% · Return on assets (EBIT) 1.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 4%, VAHN screens cheaper than that median.
Fair Value models
BearCHF 728.15Fair Value CHF 775.21BullCHF 889.22
Price CHF 742.00 · Upside +4.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 22.43 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+2.7%
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.
+6.4%
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.
+4.4%
Start year 2020 (pandemic). Over 10 years: +2.4% 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.
+0.6%
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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.
+7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.4%
Dividend (yield on the price)3.6%
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.3.4% vs 2.1%, steady
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.10% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+6.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Switzerland: IMF forecast 0.6% a year to 2030, 0.8% from 2016 to 2025) that is about +6.1% a year for the price.
AI conclusion: Diversification via real estate asset management broadens income sources beyond underwriting while the core non-life business outpaces the market, yet thin evidence and low returns on equity and assets limit signals of durable advantage.
Main risk: Low returns on equity and assets observed in the insurance operations could undermine long-term profitability and resilience of the core underwriting business.
Vaudoise has expanded into third-party real estate asset management through the Procimmo acquisition and added specialist board members to its asset management subsidiary. This broadens income sources beyond underwriting while the core non-life business keeps outpacing the market. Does the diversification reinforce long-term resilience or pull attention away from the insurance engine?
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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.Insurance - Diversified · 73 stocks
Beats the industry median on 4/15 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+4.5% · Top 25%
Profitability
Return on equity (12 months)6.0% · Bottom 25%
Return on assets1.7% · Below median
Net margin (12 months)9.7% · Above median
Operating margin (12 months)11.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)5.0% · Below median
Dividend yield (12 months)3.6% · Below median
Balance sheet
Debt / equity0.06× · Lowest 25%
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
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). "Vaudoise Assurances Holding SA Fair Value". https://www.fairvalue-calculator.com/stock/VAHN
Frequently asked questions
Is Vaudoise Assurances Holding SA (VAHN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of CHF 775.21 versus a price of CHF 742.00, about +4% upside (fairly valued).
What is the fair value of VAHN?
Our model-based fair value for Vaudoise Assurances Holding SA is CHF 775.21 (as of Nov 7, 2026), built from audited fundamentals. The current price: CHF 742.00.
What is the quality score of VAHN?
Vaudoise Assurances Holding SA has a Quality Score of 54/100. 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 Vaudoise Assurances Holding SA (VAHN)?
Our model-based price target is the fair value of CHF 775.21 (as of Nov 7, 2026) from 6 valuation models. Cautious scenario CHF 728.15, optimistic scenario CHF 889.22. It is a calculation from audited fundamentals, not an analyst target.
What is the Vaudoise Assurances Holding SA stock forecast for 2026?
Our models put fair value at CHF 775.21, about +4% upside versus a price of CHF 742.00 (fairly valued). Cautious scenario CHF 728.15, optimistic scenario CHF 889.22. The calculation is refreshed regularly with new filings.
What is the revenue of Vaudoise Assurances Holding SA (VAHN)?
Vaudoise Assurances Holding SA reported trailing-twelve-month revenue of about CHF 1.6B (latest available figure, as of Nov 7, 2026).
Does Vaudoise Assurances Holding SA pay a dividend?
Vaudoise Assurances Holding SA currently shows a dividend yield of 3.64% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Vaudoise Assurances Holding SA (VAHN) and when is the ex-dividend date?
Vaudoise Assurances Holding SA pays a dividend of CHF 27.00 per share a year, a dividend yield of 3.6%. The last ex-dividend date was May 13, 2026. A dividend has been paid every year since 2004. The payout ratio is 50.7% of earnings. Free cash flow covers the dividend 4.08 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Vaudoise Assurances Holding SA (VAHN)?
For today's price to be fair in a discounted-cash-flow model, Vaudoise Assurances Holding SA would have to grow free cash flow by +6.8 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of VAHN use?
Our models discount Vaudoise Assurances Holding SA at 8.3 %: a base by market capitalisation (mid), damped by beta 0.25, 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 Vaudoise Assurances Holding SA that is +6.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Vaudoise Assurances Holding SA (VAHN) delivered so far?
Over the past 5 years revenue at Vaudoise Assurances Holding SA grew +4.4 % a year. The price currently implies free-cash-flow growth of +6.8 % per 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 Vaudoise Assurances Holding SA (VAHN) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Vaudoise Assurances Holding SA (+6.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Vaudoise Assurances Holding SA (VAHN)?
The free-cash-flow yield on the price is 4.66 %: that much free cash flow Vaudoise Assurances Holding SA produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vaudoise Assurances Holding SA (VAHN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vaudoise Assurances Holding SA it is CHF 775.21 per share (as of Nov 7, 2026), against a price of CHF 742.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Vaudoise Assurances Holding SA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, VAHN trades below its calculated fair value: price CHF 742.00, fair value CHF 775.21, a gap of about +4% (fairly valued). 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 VAHN?
No. The price is what the market pays today (CHF 742.00); the fair value is what the company's own numbers justify (CHF 775.21). For Vaudoise Assurances Holding SA the two are CHF 33.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vaudoise Assurances Holding SA worth?
The market values Vaudoise Assurances Holding SA at about CHF 2.2B (market capitalisation, as of Nov 7, 2026). Per share that is CHF 742.00; our models calculate a fair value of CHF 775.21 per share.
What do the bullish and bearish scenarios say about VAHN?
Our models span a range for Vaudoise Assurances Holding SA: cautious scenario CHF 728.15, base CHF 775.21, optimistic CHF 889.22 per share (as of Nov 7, 2026, price CHF 742.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VAHN?
Vaudoise Assurances Holding SA trades at a price-to-earnings ratio of 13.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 775.21 is built from several models across several years. Other multiples: PEG 4.4, P/B 0.8, P/S 1.3, EV/EBITDA 11.3.
What is the PEG ratio of VAHN?
The PEG ratio of Vaudoise Assurances Holding SA is 4.42 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Vaudoise Assurances Holding SA (VAHN)?
Balance-sheet figures for Vaudoise Assurances Holding SA (as of Nov 7, 2026): return on equity 6.0%, debt of 0.06 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is VAHN from its 52-week high?
Vaudoise Assurances Holding SA trades at CHF 742.00, about 10% below its 52-week high of CHF 822.00 and 22% above the low of CHF 607.93 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 775.21 is for.
Which stocks are comparable to Vaudoise Assurances Holding SA?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali 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 Vaudoise Assurances Holding SA stock attractive at the current price?
The data as of Nov 7, 2026: price CHF 742.00, calculated fair value CHF 775.21 (+4%), Quality Score 54/100, from 6 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 VAHN calculated?
We run Vaudoise Assurances Holding SA through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of CHF 775.21 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Vaudoise Assurances Holding SA currently trades 4% 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 Vaudoise Assurances Holding SA (VAHN)?
The closing price on Nov 6, 2026 was CHF 742.00. Our model-based fair value is CHF 775.21, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vaudoise Assurances Holding SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 Vaudoise Assurances Holding SA (VAHN) come from?
Earnings per share at Vaudoise Assurances Holding SA grew +0.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.4 %, EBIT margin −2.1 %, tax rate +0.6 %, residual (interest, one-offs) +1.1 %. 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 Vaudoise Assurances Holding SA
How large is the market capitalisation of Vaudoise Assurances Holding SA (VAHN)?
The market capitalisation of Vaudoise Assurances Holding SA is CHF 2.2B. 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 Vaudoise Assurances Holding SA (VAHN)?
The price-to-sales ratio of Vaudoise Assurances Holding SA is 1.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Vaudoise Assurances Holding SA (VAHN)?
Earnings per share at Vaudoise Assurances Holding SA are CHF 53.24 (price ÷ EPS = P/E 13.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vaudoise Assurances Holding SA (VAHN)?
The dividend yield of Vaudoise Assurances Holding SA is 3.6% (payout 50.7%). 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 Vaudoise Assurances Holding SA (VAHN)?
The net margin of Vaudoise Assurances Holding SA is 9.7% (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 Vaudoise Assurances Holding SA (VAHN)?
The return on equity (ROE) of Vaudoise Assurances Holding SA is 6.0% (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 Vaudoise Assurances Holding SA (VAHN)?
On an EBIT basis the return on assets of Vaudoise Assurances Holding SA is 1.7% (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 Vaudoise Assurances Holding SA (VAHN)?
The operating margin of Vaudoise Assurances Holding SA is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vaudoise Assurances Holding SA (VAHN)?
Revenue at Vaudoise Assurances Holding SA is growing +5.0% versus a year earlier (3y avg +6.4%). 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 Vaudoise Assurances Holding SA (VAHN)?
Earnings per share at Vaudoise Assurances Holding SA are growing +2.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Vaudoise Assurances Holding SA (VAHN) hold?
Vaudoise Assurances Holding SA holds more cash than debt, CHF 77.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026