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Thurgauer Kantonalbank
(TKBP)
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Rating:56Neutral
Price Target:
CHF167.00
▲(2.45% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak technicals (price below key moving averages, negative MACD, very low RSI) and mixed financial quality driven by high leverage and volatile cash flows. These risks are partially offset by a low valuation (P/E 6.72) and moderate dividend yield, alongside strong underlying profitability despite a margin step-down in 2025.
Positive Factors
Profitability
Sustained net margins near the mid-30% range for several years, only moderating to ~29% in 2025, indicate structurally strong earning power from core banking activities. That margin base supports resilient earnings and internal capital generation across economic cycles, improving long-term franchise durability.
Negative Factors
Elevated leverage
High and increasing debt-to-equity amplifies sensitivity to credit losses and interest-rate shocks for a regional lender. Elevated leverage reduces capital buffers, limits strategic flexibility, and raises the stakes for earnings volatility or asset-quality deterioration over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
Sustained net margins near the mid-30% range for several years, only moderating to ~29% in 2025, indicate structurally strong earning power from core banking activities. That margin base supports resilient earnings and internal capital generation across economic cycles, improving long-term franchise durability.
Read all positive factors
Thurgauer Kantonalbank (TKBP) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF656.00M
Dividend Yield2.2%
Average Volume (3M)1.05K
Price to Earnings (P/E)6.7
Beta (1Y)0.15
Revenue Growth-17.28%
EPS Growth2.68%
CountryCH
Employees778
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)N/A
Shares Outstanding4,000,000
10 Day Avg. Volume1,126
30 Day Avg. Volume1,052
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.37
Price to Sales (P/S)1.15
P/FCF Ratio5.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Thurgauer Kantonalbank Business Overview & Revenue Model
Company Description
Established in 1871 and headquartered in Weinfelden, Switzerland, Thurgauer Kantonalbank delivers a comprehensive suite of financial products and services. It serves a diverse clientele throughout Switzerland, including private individuals, corpor...
How the Company Makes Money
TKB earns money mainly through a bank-style mix of interest income, fees/commissions, and trading/other income. (1) Net interest income: The bank collects interest on loans—especially residential mortgages and other lending to households and busin...
Thurgauer Kantonalbank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
54
Neutral
Cash Flow
42
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 564.52M | 409.62M | 426.89M | 433.21M | 392.87M |
| Gross Profit | 400.38M | 409.62M | 414.43M | 381.19M | 373.67M |
| EBITDA | 187.03M | 182.22M | 185.55M | 173.28M | 169.88M |
| Net Income | 162.26M | 158.02M | 158.95M | 147.85M | 145.55M |
Balance Sheet | |||||
| Total Assets | 36.04B | 35.43B | 32.80B | 33.29B | 30.13B |
| Cash, Cash Equivalents and Short-Term Investments | 6.19B | 6.02B | 4.98B | 6.14B | 4.87B |
| Total Debt | 10.29B | 8.87B | 11.12B | 11.63B | 9.11B |
| Total Liabilities | 34.27B | 32.60B | 30.10B | 30.72B | 27.68B |
| Stockholders Equity | 1.77B | 2.83B | 2.70B | 2.56B | 2.46B |
Cash Flow | |||||
| Free Cash Flow | 115.67M | 336.85M | -1.10B | 376.23M | 182.72M |
| Operating Cash Flow | 120.74M | 340.99M | -1.09B | 388.64M | 196.16M |
| Investing Cash Flow | -1.03B | 339.47M | -938.29M | 757.51M | -524.07M |
| Financing Cash Flow | 1.07B | 2.23B | -252.77M | 121.65M | 744.84M |
Thurgauer Kantonalbank Technical Analysis
Negative
163.00
Price Trends
179.15
Negative
181.08
Negative
172.19
Negative
Market Momentum
-5.31
Positive
15.62
Positive
8.79
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:TKBP, the sentiment is Negative. The current price of 163 is below the 20-day moving average (MA) of 173.75, below the 50-day MA of 179.15, and below the 200-day MA of 172.19, indicating a bearish trend. The MACD of -5.31 indicates Positive momentum. The RSI at 15.62 is Positive, neither overbought nor oversold. The STOCH value of 8.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:TKBP.
Thurgauer Kantonalbank Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | CHF2.55B | 28.72 | 5.17% | 2.47% | -11.86% | 3.44% | |
67 Neutral | CHF1.78B | 27.39 | ― | 2.60% | -16.57% | -0.53% | |
56 Neutral | CHF656.00M | 6.72 | 9.39% | 2.09% | -17.28% | 2.68% | |
56 Neutral | CHF239.61M | 19.46 | ― | 2.58% | -9.78% | 1.63% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CH:TKBP
Thurgauer Kantonalbank
156.00
3.48
2.28%
CH:WKBN
Walliser Kantonalbank
161.50
37.69
30.45%
CH:BSKP
Basler Kantonalbank Partizipsch
97.70
23.97
32.51%
CH:GRKP
Graubuendner Kantonalbank
2,400.00
678.53
39.42%
CH:BCJ
Banque Cantonale du Jura
80.00
19.29
31.78%
CH:BLKB
Basellandschaftliche Kantonalbank
1,110.00
257.87
30.26%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.