Zuger Kantonalbank (ZUGER) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Zuger Kantonalbank CHF 5,225, price CHF 10,750, upside -51.4%, quality 65 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 24, 2026.
How to read this chart
60‑month range CHF 5,773 – CHF 11,406 · fair‑value band CHF 4,820 – CHF 8,430 · the CHF 10,750 price screens above the CHF 5,225 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Zuger Kantonalbank provides various banking products and services to private and corporate clients in Switzerland. The company offers premium, comfort, basic, and fix account; private accounts; and debit cards.
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Zuger Kantonalbank provides various banking products and services to private and corporate clients in Switzerland. The company offers premium, comfort, basic, and fix account; private accounts; and debit cards. It also provides investments, private banking, investment strategies and advisory, asset management, investment products, and e-invest/custody account; home financing; pension products and tax services; payment and bills; corporate and real estate financing; and occupational pension scheme. In addition, the company offers e-banking and mobile banking services. The company was founded in 1892 and is based in Zug, Switzerland.
Stock analysis
Zuger Kantonalbank (ZUGER) currently trades at CHF 10,750, while our model-based Fair Value estimate is CHF 5,225, implying the stock looks roughly 105.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of CHF 5,926 per share, and 0 of the 6 models we run sit above the CHF 10,750 price.
Bear case: the Dividend Discount group reads lowest at CHF 2,975, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: CHF 4,820 (bear) to CHF 8,430 (bull), the price of CHF 10,750 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 65/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zuger Kantonalbank reported revenue of CHF 411M in FY2025 versus CHF 220M in FY2021, a compound +16.9%/yr. Reported net income was CHF 131M in FY2025, compounding +14.9%/yr from FY2021.
Key figures
Market cap CHF 3.1B · P/E ratio 23.6 · P/S ratio 7.52 · EPS (TTM) CHF 455.76 · Dividend yield 2.1% · Net margin 31.9% · Return on equity 8.3% · Return on assets (EBIT) 0.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −51%, ZUGER screens richer than that median.
Fair Value models
Bear CHF 4,820Fair Value CHF 5,225Bull CHF 8,430
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 165.17 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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.7%
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.
+18.2%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
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.
+3.8%
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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.
+14.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.9%
Dividend (yield on the price)2.1%
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.12% vs 8%, picking up
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.38% → 37%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
−8.2%
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 −8.7% a year for the price.
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 · 1074 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−51% · Bottom 25%
Profitability
Return on equity (TTM)8% · Below median
Return on assets1% · Below median
Net margin (TTM)40% · Top 25%
Operating margin (TTM)43% · Above median
Growth and dividend
Revenue growth0% · Bottom 25%
Dividend yield (TTM)2.1% · Below median
Balance sheet
Debt / equity2.77× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)23.6× · Priciest 25%
P/B2.32× · Priciest 25%
P/S (TTM)11.42× · Priciest 25%
P/FCF6.9× · Cheaper than median
EV/EBITDA34.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 12
FUTURE (revenue growth)0· sector 45
PAST (return on equity)33· sector 41
HEALTH (low debt)0· sector 85
DIVIDEND (yield)43· sector 53
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). "Zuger Kantonalbank Fair Value". https://www.fairvalue-calculator.com/stock/ZUGER
Frequently asked questions
Is Zuger Kantonalbank (ZUGER) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of CHF 5,225 versus a price of CHF 10,750, about −51% upside (overvalued).
What is the fair value of ZUGER?
Our model-based fair value for Zuger Kantonalbank is CHF 5,225 (as of Sep 24, 2026), built from audited fundamentals. The current price: CHF 10,750.
What is the quality score of ZUGER?
Zuger Kantonalbank has a Quality Score of 65/100. 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 Zuger Kantonalbank (ZUGER)?
Our model-based price target is the fair value of CHF 5,225 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario CHF 4,820, optimistic scenario CHF 8,430. It is a calculation from audited fundamentals, not an analyst target.
What is the Zuger Kantonalbank stock forecast for 2026?
Our models put fair value at CHF 5,225, about −51% upside versus a price of CHF 10,750 (overvalued). Cautious scenario CHF 4,820, optimistic scenario CHF 8,430. The calculation is refreshed regularly with new filings.
What is the revenue of Zuger Kantonalbank (ZUGER)?
Zuger Kantonalbank reported trailing-twelve-month revenue of about CHF 329M (latest available figure, as of Sep 24, 2026).
Does Zuger Kantonalbank pay a dividend?
Zuger Kantonalbank currently shows a dividend yield of about 2.14% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Zuger Kantonalbank (ZUGER)?
For today's price to be fair in a discounted-cash-flow model, Zuger Kantonalbank would have to grow free cash flow by -8.2 % 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 +13.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ZUGER use?
Our models discount Zuger Kantonalbank at 8.3 %: a base by market capitalisation (mid), damped by beta 0.03, 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 Zuger Kantonalbank that is -8.2 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Zuger Kantonalbank (ZUGER) delivered so far?
Over the past 5 years revenue at Zuger Kantonalbank grew +13.1 % a year. The price currently implies -8.2 % 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 Zuger Kantonalbank (ZUGER) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Zuger Kantonalbank (-8.2 % 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 Zuger Kantonalbank (ZUGER)?
The free-cash-flow yield on the price is 17.57 %: that much free cash flow Zuger Kantonalbank 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 Zuger Kantonalbank (ZUGER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zuger Kantonalbank it is CHF 5,225 per share (as of Sep 24, 2026), against a price of CHF 10,750. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Zuger Kantonalbank stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ZUGER trades above its calculated fair value: price CHF 10,750, fair value CHF 5,225, a gap of about −51% (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 ZUGER?
No. The price is what the market pays today (CHF 10,750); the fair value is what the company's own numbers justify (CHF 5,225). For Zuger Kantonalbank the two are CHF 5,525 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zuger Kantonalbank worth?
The market values Zuger Kantonalbank at about CHF 3.1B (market capitalisation, as of Sep 24, 2026). Per share that is CHF 10,750; our models calculate a fair value of CHF 5,225 per share.
What do the bullish and bearish scenarios say about ZUGER?
Our models span a range for Zuger Kantonalbank: cautious scenario CHF 4,820, base CHF 5,225, optimistic CHF 8,430 per share (as of Sep 24, 2026, price CHF 10,750). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZUGER?
Zuger Kantonalbank trades at a price-to-earnings ratio of 23.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 5,225 is built from several models across several years. Other multiples: P/B 2.3, P/S 11.4, EV/EBITDA 34.3.
How solid is the balance sheet of Zuger Kantonalbank (ZUGER)?
Balance-sheet figures for Zuger Kantonalbank (as of Sep 24, 2026): return on equity 8.3%, debt of 2.77 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is ZUGER from its 52-week high?
Zuger Kantonalbank trades at CHF 10,750, about 6% below its 52-week high of CHF 11,406 and 27% above the low of CHF 8,479 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 5,225 is for.
Which stocks are comparable to Zuger Kantonalbank?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Zuger Kantonalbank stock attractive at the current price?
The data as of Sep 24, 2026: price CHF 10,750, calculated fair value CHF 5,225 (−51%), Quality Score 65/100, 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 ZUGER calculated?
We run Zuger Kantonalbank through 6 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 5,225, 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. Zuger Kantonalbank 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 Zuger Kantonalbank (ZUGER)?
The closing price on Sep 23, 2026 was CHF 10,750. Our model-based fair value is CHF 5,225, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zuger Kantonalbank right now?
The price sits above even our optimistic bull case (CHF 8,430). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) 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 Zuger Kantonalbank (ZUGER) come from?
Earnings per share at Zuger Kantonalbank grew +8.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.0 %, EBIT margin +0.7 %, tax rate −0.7 %, residual (interest, one-offs) −0.6 %. 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 Zuger Kantonalbank
How large is the market capitalisation of Zuger Kantonalbank (ZUGER)?
The market capitalisation of Zuger Kantonalbank is CHF 3.1B. 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 Zuger Kantonalbank (ZUGER)?
The price-to-sales ratio of Zuger Kantonalbank is 7.52 (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 Zuger Kantonalbank (ZUGER)?
Earnings per share at Zuger Kantonalbank are CHF 455.76 (price ÷ EPS = P/E 23.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zuger Kantonalbank (ZUGER)?
The dividend yield of Zuger Kantonalbank is 2.1% (payout 50.5%). 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 Zuger Kantonalbank (ZUGER)?
The net margin of Zuger Kantonalbank is 31.9% (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 Zuger Kantonalbank (ZUGER)?
The return on equity (ROE) of Zuger Kantonalbank is 8.3% (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 Zuger Kantonalbank (ZUGER)?
On an EBIT basis the return on assets of Zuger Kantonalbank is 0.7% (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 Zuger Kantonalbank (ZUGER)?
The operating margin of Zuger Kantonalbank is 43.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zuger Kantonalbank (ZUGER)?
Revenue at Zuger Kantonalbank is growing −0.3% versus a year earlier (3y avg +18.2%). 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 Zuger Kantonalbank (ZUGER)?
Earnings per share at Zuger Kantonalbank are growing −3.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zuger Kantonalbank (ZUGER) carry?
The net debt of Zuger Kantonalbank is CHF 1.4B (fiscal year 2025, ≈ 2.6 yrs of FCF). 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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