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VZ Holding AG
(VZN)
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Rating:70Outperform
Price Target:
CHF197.00
▲(10.18% Upside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by strong profitability and returns with improved leverage, supported by a positive technical trend. These positives are moderated by volatile free cash flow (including a sharp 2025 decline) and a relatively high P/E that limits valuation attractiveness despite a ~1.9% dividend yield.
Positive Factors
High profitability and returns
Sustained high margins and ROE indicate an efficient, scalable advisory model with strong pricing power and capital productivity. These characteristics can support reinvestment, resilience and shareholder returns over the next several quarters.
Negative Factors
Recent revenue growth pressure
The 2025 revenue contraction interrupts the prior expansion trend and suggests that client activity, asset growth or fee income may be facing pressure. If persistent, slower top-line growth could limit operating leverage and earnings momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and returns
Sustained high margins and ROE indicate an efficient, scalable advisory model with strong pricing power and capital productivity. These characteristics can support reinvestment, resilience and shareholder returns over the next several quarters.
Read all positive factors
VZ Holding AG (VZN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF6.95B
Dividend Yield1.67%
Average Volume (3M)22.77K
Price to Earnings (P/E)27.6
Beta (1Y)0.57
Revenue Growth9.08%
EPS Growth12.49%
CountryCH
Employees1,794
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)6.42
Shares Outstanding40,000,000
10 Day Avg. Volume25,076
30 Day Avg. Volume22,771
Financial Highlights & Ratios
PEG Ratio3.00
Price to Book (P/B)5.08
Price to Sales (P/S)9.52
P/FCF Ratio23.50
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)6.98
Revenue Forecast (FY)CHF650.90M
VZ Holding AG Business Overview & Revenue Model
Company Description
VZ Holding AG, a subsidiary of Madarex Ltd. and founded in 1992 with its headquarters in Zurich, Switzerland, operates as a comprehensive financial services provider across Switzerland and Germany. The company offers a wide spectrum of services to...
How the Company Makes Money
VZ Holding generates revenue primarily from (1) advisory and management fees tied to client assets and financial planning mandates, where clients pay ongoing fees for discretionary or advisory portfolio management and for comprehensive financial p...
VZ Holding AG Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 664.41M | 627.60M | 567.54M | 517.36M | 420.69M | 392.00M |
| Gross Profit | 595.17M | 557.53M | 381.95M | 342.64M | 393.35M | 368.48M |
| EBITDA | 325.88M | 301.45M | 312.93M | 269.34M | 197.90M | 187.81M |
| Net Income | 256.08M | 236.44M | 218.22M | 186.94M | 151.10M | 142.59M |
Balance Sheet | ||||||
| Total Assets | 8.76B | 8.27B | 7.49B | 6.54B | 5.95B | 5.77B |
| Cash, Cash Equivalents and Short-Term Investments | 2.10B | 2.09B | 1.91B | 1.56B | 1.46B | 1.89B |
| Total Debt | 941.29M | 720.30M | 754.95M | 553.35M | 538.40M | 1.04B |
| Total Liabilities | 7.56B | 7.09B | 6.43B | 5.61B | 5.18B | 5.07B |
| Stockholders Equity | 1.21B | 1.18B | 1.05B | 919.09M | 763.09M | 695.60M |
Cash Flow | ||||||
| Free Cash Flow | 275.21M | 254.31M | 231.59M | 161.43M | 163.94M | 147.82M |
| Operating Cash Flow | 294.55M | 268.72M | 254.21M | 165.85M | 196.42M | 168.55M |
| Investing Cash Flow | -789.45M | -775.16M | 3.25M | -30.85M | -1.11B | -131.17M |
| Financing Cash Flow | 333.68M | 563.96M | 14.56M | -1.21M | -62.70M | -42.87M |
VZ Holding AG Technical Analysis
Positive
178.80
Price Trends
164.84
Positive
157.02
Positive
152.57
Positive
Market Momentum
4.73
Positive
60.68
Neutral
52.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:VZN, the sentiment is Positive. The current price of 178.8 is above the 20-day moving average (MA) of 173.63, above the 50-day MA of 164.84, and above the 200-day MA of 152.57, indicating a bullish trend. The MACD of 4.73 indicates Positive momentum. The RSI at 60.68 is Neutral, neither overbought nor oversold. The STOCH value of 52.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:VZN.
VZ Holding AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | CHF17.59B | 14.82 | ― | 6.77% | 8.63% | -0.75% | |
71 Outperform | CHF6.41B | 17.33 | ― | 1.76% | 3.78% | 17.30% | |
70 Outperform | CHF6.95B | 27.57 | 21.49% | 1.67% | 9.08% | 12.49% | |
67 Neutral | CHF15.33B | 13.48 | ― | 3.47% | -0.29% | 31.63% | |
67 Neutral | CHF5.04B | 13.31 | 14.87% | 3.32% | 11.49% | 51.27% | |
66 Neutral | CHF4.80B | 17.03 | 12.14% | 4.10% | -0.85% | -25.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CH:VZN
VZ Holding AG
177.00
-1.42
-0.80%
CH:PGHN
Partners Group Holding AG
679.00
-332.52
-32.87%
CH:BAER
Julius Baer Group Ltd
74.84
19.84
36.07%
CH:EFGN
EFG International AG
15.84
0.54
3.53%
CH:VONN
Vontobel Holding AG
90.40
31.19
52.68%
CH:SQN
Swissquote Group Holding Ltd.
41.94
-9.40
-18.31%
VZ Holding AG Corporate Events
VZ Group Delivers Above-Average Growth on Strong Client Demand
Aug 14, 2026
VZ Group reported strong first-half 2026 results, with total income up 13.9% to CHF 316.5 million and net profit rising 17.7% to CHF 131.9 million, driven largely by higher income from assets under management. Client demand for advisory services r...
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.