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Leonteq AG (LEON) AI Stock Analysis
Leonteq AG
(Six Swiss:LEON)
The overall score of 61 reflects a pivotal transition for Leonteq AG. The most significant positive driver is the recent earnings call, which highlighted a strong H1 2026 turnaround with a return to profitability, positive guidance, and a planned 2027 share buyback. Technical indicators also display robust bullish momentum across all major moving averages. However, these forward-looking positives are weighed down by trailing financial deterioration, characterized by historical revenue contraction, a negative P/E ratio, and strained equity. The exceptionally high dividend yield provides income appeal but carries inherent risk due to the trailing net losses.
Leonteq AG (LEON) vs. iShares MSCI Switzerland ETF (EWL)
- Market Cap
- CHF 351.50M
- Dividend Yield
- ―
- Average Volume (3M)
- 38.89K
- Price to Earnings (P/E)
- -11.5
- Beta (1Y)
- 0.20
- Revenue Growth
- -32.12%
- EPS Growth
- -4018.55%
- Country
- Switzerland
- Employees
- 531
- Sector
- General
- Sector Strength
- 55
- Industry
- Investment - Banking & Investment Services
Leonteq AG Business Overview & Revenue Model
Company Description
Leonteq AG, established in Zurich, Switzerland, in 2007 (and known as EFG Financial Products Holding AG until its name change in June 2013), is a financial services company specializing in sophisticated structured investment products and comprehensiv...
How the Company Makes Money
Leonteq makes money primarily by structuring and issuing structured products and by providing associated services and platform capabilities to distribution partners and other financial counterparties. Key revenue streams typically include: (1) Struct...
Leonteq AG Earnings Call Summary
The call communicated a clear and measurable recovery: return to profitability, double‑digit growth in fee income and turnover, significant cost reductions, strengthened recurring and capital‑efficient businesses (AMCs, QIS, LYNQS), and a solid capital base with a Board‑level intent to return capital to shareholders. Offsetting concerns include a 10% year‑on‑year decline in total operating income (driven by weaker trading), a negative treasury carry component, higher RWAs and slightly lower CET1 ratio, a reduction in Tier 1 partner turnover, and continued pressure in the pension/long‑term savings segment. Overall, the positives — particularly the profitability turnaround, revenue and fee growth, cost discipline, regional momentum (Asia), and strategic progress — materially outweigh the negatives.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Leonteq reiterated full‑year 2026 guidance to deliver a positive pretax result and reconfirmed operating expense guidance of approximately CHF 200 million, while signalling a shareholder distribution framework of an unchanged dividend policy (30%) and the Board's intention to launch a share buyback in early 2027 (Hans referenced a potential buyback at ~70% of net profit), conditional on maintaining a CET1 ratio meaningfully and sustainably above 15% (CET1 was 16.5% at end‑June; eligible capital CHF 655m; RWAs CHF 3.97bn). Management said the outlook is supported by H1 performance—pretax profit CHF 12.2m, net profit CHF 12.7m, EPS CHF 0.71, RoTE 4%—and improving underlying metrics including net fee income CHF 96.8m (+10% YoY), total operating income CHF 111.6m, platform turnover CHF 15.9bn (+10% YoY), H1 operating expenses CHF 99.2m, own‑issued products CHF 5.6bn, assets CHF 12.4bn, shareholders’ equity CHF 710m, and growth areas they expect to drive further results (AMC outstanding ~CHF 2.4bn with ~9% annualized net new money, QIS ~700 indices, balance‑sheet‑light turnover CHF 3.6bn, LYNQS product initiations +42% with 36% click‑and‑trade).
Leonteq AG Financial Statement Overview
Summary
Trailing financials reflect significant deterioration, highlighted by sharp revenue contraction and a shift to net losses. While the balance sheet faces strain from eroding equity and high leverage, a successful turnaround in positive operating and free cash flow provides critical stabilization.
Income Statement
25NegativeBalance Sheet
38NegativeCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 162.34M | 181.90M | 214.47M | 256.88M | 466.75M | 428.74M |
| Gross Profit | 94.17M | 111.60M | 88.97M | 256.88M | 433.25M | 393.09M |
| EBITDA | 6.37M | 14.36M | 52.16M | 64.30M | 232.02M | 214.72M |
| Net Income | -30.26M | -33.70M | 5.84M | 20.60M | 156.45M | 155.72M |
Balance Sheet | ||||||
| Total Assets | 12.39B | 11.16B | 10.67B | 9.26B | 12.33B | 14.44B |
| Cash, Cash Equivalents and Short-Term Investments | 2.21B | 3.07B | 4.50B | 4.64B | 3.81B | 3.09B |
| Total Debt | 6.06B | 5.53B | 89.32M | 4.96B | 5.23B | 6.58B |
| Total Liabilities | 11.68B | 10.47B | 9.86B | 8.48B | 11.46B | 13.64B |
| Stockholders Equity | 710.16M | 692.11M | 803.83M | 780.13M | 870.03M | 802.09M |
Cash Flow | ||||||
| Free Cash Flow | 1.10B | 28.56M | -43.21M | -316.25M | -1.85B | 2.12B |
| Operating Cash Flow | 1.11B | 45.93M | -16.77M | -313.94M | -1.83B | 2.14B |
| Investing Cash Flow | -874.03M | -17.35M | -26.41M | -29.50M | -25.86M | -23.07M |
| Financing Cash Flow | -85.37M | -63.54M | -40.56M | -116.56M | -93.06M | -32.78M |
Leonteq AG Peers Comparison
Overall Rating
CH:SQN75Outperform
CH:BAER64Neutral- CH:LEON61Neutral
CH:TKBP60Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| CH:SQN | 75Outperform | CHF 5.24B | 14.17 | ― | 2.16% | 3.78% | 17.30% |
| CH:BAER | 64Neutral | CHF 14.20B | 12.43 | ― | 3.77% | -0.29% | 31.63% |
| CH:LEON | 61Neutral | CHF 358.35M | -11.55 | ― | ― | -32.12% | -4018.55% |
| CH:TKBP | 60Neutral | CHF 644.00M | 3.95 | 6.83% | 2.24% | -10.56% | 3.52% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| CH:LEON | Leonteq AG | 19.86 | 4.48 | 29.13% | |
| CH:BAER | Julius Baer Group | 69.00 | 17.14 | 33.05% | |
| CH:TKBP | Thurgauer Kantonalbank | 161.00 | 7.01 | 4.55% | |
| CH:SQN | Swissquote Group Holding Ltd. | 34.30 | -15.67 | -31.35% | |
| CH:BLKB | Basellandschaftliche Kantonalbank | 1195.00 | 290.82 | 32.16% |
Leonteq AG Corporate Events
Leonteq Reshapes Shareholder Base as Raiffeisen Reduces Stake
Swiss fintech Leonteq AG, a leading provider of structured investment solutions and technology platforms for financial institutions, operates under a regulatory regime similar to FINMA-supervised banks. The Zurich-based group issues its own products...
Leonteq Returns to Profit as Growth Strategy Boosts Global Volumes
Leonteq AG has returned to profitability in the first half of 2026, posting group net profit of CHF 12.7 million as higher fee and commission income and positive hedging results lifted operating income to CHF 111.6 million. Operating expenses fell 10...
Leonteq closes legacy regulatory cases as FINMA signs off on reforms
Leonteq has closed all legacy regulatory cases after the Swiss Financial Market Supervisory Authority confirmed that measures ordered following proceedings concluded in 2024 have been fully implemented. The end of all pending proceedings removes a ke...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 20, 2026