VZ Holding (VZN) Fair Value & Analysis
Financial Services · CH · Market cap CHF 6.5B
Fair value as of: Jul 17, 2026
From 13 valuation models · updated 24 days ago
Share price +3.2% over the past month.
A solid business, but screening 74% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (CHF 52.25). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) 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 17, 2026.
How to read this chart
60‑month range CHF 60.22 – CHF 178.42 · fair‑value band CHF 31.35 – CHF 52.25 · the CHF 161.80 price screens above the CHF 41.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
VZ Holding (VZN) currently trades at CHF 161.80, while our model-based Fair Value estimate is CHF 41.80, implying the stock looks roughly 74.2% overvalued today. The Quality Score stands at 62/100 (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, VZ Holding generated revenue of CHF 626M at a net margin of 37.6%. Revenue grew 7.1% year over year. It earns a return on equity of 21.1%. The balance sheet holds a net cash position of CHF 943M. Fundamentals as of Jul 17, 2026
Our scenario range runs from CHF 31.35 (bear case) to CHF 52.25 (bull case); at CHF 161.80, 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 10% below its 52-week high and 18% 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 -74%, VZN 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.
All 13 models by family
Widest divergence: DCF Models (CHF 131.53) versus Asset-Based (CHF 20.00). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 58
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
VZ Holding AG, together with its subsidiaries, provides financial services in Switzerland, Germany, and England. The company offers retirement planning, estate planning, real estate pension scheme, tax advice, and corporate succession services; portfolio management, invest with ETFs, securities account consultancy, securities custody account, and securities …
Full company description
VZ Holding AG, together with its subsidiaries, provides financial services in Switzerland, Germany, and England. The company offers retirement planning, estate planning, real estate pension scheme, tax advice, and corporate succession services; portfolio management, invest with ETFs, securities account consultancy, securities custody account, and securities portfolio check services; and estate consultation, execution of wills, corporate succession planning, VZ safe, and LGBT advice services. It also provides mortgages, mortgage alarm, real estate valuation, and properties sale services; tax returns, tax planning, and LGBT tax advice services; and pension analysis, vested benefits, and ETFs and individual stocks services. In addition, the company offers insurance, insurance check, pension planning, and digital organizers; VZ depository; VZ financial portal that enables to find properties worth, manage financial investments, insurance policies, and mortgages digitally, as well as set interest rate alarms; investment consultancy services; and trading of crypto assets. VZ Holding AG was founded in 1992 and is headquartered in Zurich, Switzerland. VZ Holding AG operates as a subsidiary of Madarex AG.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
VZ Holding reported revenue of CHF 628M in FY2025 versus CHF 392M in FY2021, a compound +12.5%/yr. Reported net income was CHF 236M in FY2025, compounding +13.5%/yr from FY2021.
VZN screens 74% overvalued. Compare with Fondul Proprietatea SA →
Peer Group
Asset Management · 973 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
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 0: the price sits above our fair-value range.
Insider activity: 45/100
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.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
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Frequently asked questions
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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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