Julius Baer Group Ltd (CH:BAER)
:BAER
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Julius Baer Group Ltd
(BAER)
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Rating:60Neutral
Price Target:
CHF62.00
▼(-0.45% Downside)
Action:ReiteratedDate:03/18/26
The score is held back primarily by inconsistent and recently weak cash generation plus higher leverage, and by bearish technical momentum. Offsetting these are attractive valuation (low P/E and strong yield) and a generally constructive earnings-call outlook with clear mid-term targets and improved capital strength.
Positive Factors
Scale & record AUM
Record CHF 521bn AUM provides durable scale and a recurring fee base across regions. Large, diversified assets under management support stable fee income, cross‑sell opportunities and resilience to single‑market shocks, reinforcing long‑term revenue stability and franchise strength.
Negative Factors
Weak, volatile cash generation
A collapse in operating cash flow to CHF ~99.8m and negative free cash flow underscore inconsistent cash conversion of profitable years. This variability impairs internal funding for investments and capital returns, raising reliance on external financing and stressing medium‑term financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale & record AUM
Record CHF 521bn AUM provides durable scale and a recurring fee base across regions. Large, diversified assets under management support stable fee income, cross‑sell opportunities and resilience to single‑market shocks, reinforcing long‑term revenue stability and franchise strength.
Read all positive factors
Julius Baer Group Ltd (BAER) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF12.76B
Dividend Yield4.14%
Average Volume (3M)441.10K
Price to Earnings (P/E)16.8
Beta (1Y)1.10
Revenue Growth1.02%
EPS Growth131.90%
CountryCH
Employees7,595
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)2.27
Shares Outstanding206,001,790
10 Day Avg. Volume463,873
30 Day Avg. Volume441,104
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)1.77
Price to Sales (P/S)2.17
P/FCF Ratio-86.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF66.87Price Target Upside7.37% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)5.26
Revenue Forecast (FY)CHF4.26B
Julius Baer Group Ltd Business Overview & Revenue Model
Company Description
Julius Bär Gruppe AG provides wealth management solutions in Switzerland, Europe, Americas, Asia, and internationally. Its solutions include discretionary mandates, investment advisory mandates, securities execution and advisory, foreign exchange ...
How the Company Makes Money
Julius Baer primarily makes money from fees and commissions for managing and advising on client assets, plus interest and trading-related income from banking activities. Key revenue streams typically include: (1) Recurring management and advisory ...
Julius Baer Group Ltd Earnings Call Summary
Earnings Call Date:Feb 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Positive
The call presented solid operational and strategic progress: record AUM, meaningful net new money, improved underlying revenues (excluding credit charges), strong cost discipline and a material restoration of capital adequacy (CET1 17.4%). Management addressed legacy issues (credit review, governance) and launched a clear three-year growth program and technology/efficiency initiatives. However, the year featured significant one-off credit charges (CHF 213m net), a pronounced decline in traditional NII due to lower rates and FX headwinds from a weaker dollar; management also cautioned that front‑loaded investments and cost-to-achieve will pressure near-term cost/income before back-ended benefits flow in 2027–28. On balance, positives around franchise strength, capital and execution momentum outweigh the temporary headwinds and investment-related near-term pressures.Positive Updates
Record Assets Under Management
AUM reached a record CHF 521 billion, up 5% year-on-year, supported by CHF 14.4 billion net new money and CHF 57 billion market uplift; monthly average AUM rose 7% to CHF 499 billion and total client assets increased 4% to CHF 614 billion.
Negative Updates
Net Credit Losses from Credit Review
The comprehensive credit review led to gross increases in loan loss allowances of CHF 279 million (announced in two tranches) and net credit losses of CHF 213 million for 2025, materially depressing IFRS operating income.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Assets Under Management
AUM reached a record CHF 521 billion, up 5% year-on-year, supported by CHF 14.4 billion net new money and CHF 57 billion market uplift; monthly average AUM rose 7% to CHF 499 billion and total client assets increased 4% to CHF 614 billion.
Read all positive updates
Company Guidance
The management reiterated clear mid‑term guidance: raise net new money from 2025’s CHF 14.4bn (≈2.9% annualized) toward 4–5% p.a. by 2028 (targeting to do a bit better in 2026), achieve a cost/income ratio below 67% by 2028 (2025 ended at 67.6%, a >300bp improvement) with further structural savings of CHF 130m (additional cost‑to‑achieve ~CHF 65m, mostly booked in 2026–27 with benefits back‑ended into 2028), and deliver return on CET1 above 30% (14% underpin) while maintaining a strong CET1 ratio (17.4% at end‑2025) and risk density guidance of 22–24% (21% at end‑2025); other planning assumptions include an 80bp gross‑margin input and USD/CHF ~0.80, forward tax guidance of 18–20%, stable loan penetration around 8%, a Tier‑1 leverage ratio comfortably above the 3% floor (4.9% at end‑2025), high liquidity (LCR ~261%), and hiring of 150+ RMs in 2026 — with any shareholder buybacks remaining subject to FINMA approval.Julius Baer Group Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
35
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.92B | 3.90B | 3.24B | 4.52B | 4.27B |
| Gross Profit | 4.01B | 3.90B | 813.40M | 4.52B | 4.27B |
| EBITDA | 1.03B | 0.00 | 758.60M | 0.00 | 0.00 |
| Net Income | 763.70M | 1.02B | 454.00M | 949.60M | 1.08B |
Balance Sheet | |||||
| Total Assets | 107.49B | 105.07B | 96.79B | 105.64B | 116.31B |
| Cash, Cash Equivalents and Short-Term Investments | 25.19B | 30.06B | 16.22B | 18.91B | 25.80B |
| Total Debt | 8.21B | 4.06B | 6.05B | 5.92B | 7.07B |
| Total Liabilities | 100.26B | 98.24B | 90.62B | 99.35B | 109.56B |
| Stockholders Equity | 7.23B | 6.83B | 6.16B | 6.29B | 6.73B |
Cash Flow | |||||
| Free Cash Flow | -147.50M | 1.87B | -1.17B | 1.72B | 123.80M |
| Operating Cash Flow | 99.80M | 2.13B | -929.10M | 1.91B | 320.60M |
| Investing Cash Flow | 1.03B | 2.86B | -1.69B | -5.37B | 764.60M |
| Financing Cash Flow | -188.00M | -409.40M | 79.30M | -3.48B | 1.62B |
Julius Baer Group Ltd Technical Analysis
Positive
62.28
Price Trends
62.36
Negative
61.98
Positive
58.75
Positive
Market Momentum
-0.32
Negative
57.87
Neutral
80.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BAER, the sentiment is Positive. The current price of 62.28 is above the 20-day moving average (MA) of 58.88, below the 50-day MA of 62.36, and above the 200-day MA of 58.75, indicating a neutral trend. The MACD of -0.32 indicates Negative momentum. The RSI at 57.87 is Neutral, neither overbought nor oversold. The STOCH value of 80.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:BAER.
Julius Baer Group Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | CHF22.27B | 20.20 | ― | 4.30% | 23.34% | 24.97% | |
66 Neutral | CHF3.97B | 5.44 | 11.11% | 4.66% | 3.80% | 15.49% | |
64 Neutral | CHF5.34B | 17.97 | 9.10% | 3.15% | -0.27% | 21.41% | |
64 Neutral | CHF6.11B | 25.28 | 22.69% | 1.82% | 8.15% | 12.24% | |
60 Neutral | CHF12.76B | 16.79 | ― | 4.14% | 1.02% | 131.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | CHF101.16B | 29.95 | 7.04% | 1.99% | -12.37% | 142.75% |
* General Sector Average
CH:BAER
Julius Baer Group Ltd
62.28
14.07
29.18%
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Julius Baer Group Ltd Corporate Events
Julius Baer CFO Evie Kostakis to Step Down After Orchestrated Handover
Apr 10, 2026
Julius Baer Group announced that Chief Financial Officer Evie Kostakis will step down from her role to take on a new international leadership position, following an orderly handover expected in the second half of 2026. She will remain with the wea...
Julius Bär shareholders back all AGM proposals, approve dividend and capital band
Apr 9, 2026
Shareholders of Julius Bär Gruppe AG approved all proposals at the 2026 annual general meeting, including the 2025 statutory and consolidated financial statements, the sustainability report, and a dividend of CHF 2.60 per registered share pay...
Julius Baer to Call USD 350 Million AT1 Bonds on First Redemption Date
Mar 24, 2026
Julius Baer Group Ltd., the Zurich-based Swiss wealth manager listed on the SIX Swiss Exchange, specializes in advising and servicing sophisticated private clients globally. With CHF 521 billion in assets under management at the end of 2025 and a ...
Julius Baer Publishes Invitation to April 2026 General Meeting
Mar 19, 2026
Julius Bär Gruppe AG has published the invitation and materials for its upcoming General Meeting, scheduled to be held on 9 April 2026, with all documentation made available online. The meeting will provide shareholders with a formal platform...
Julius Baer refreshes board with compliance heavyweight as long-serving director exits
Mar 16, 2026
Julius Baer Group announced that long-serving director Olga Zoutendijk will not stand for re-election at the April 2026 AGM, ending a seven-year tenure in which she played key roles on the Audit and Governance Risk committees during a two-year tr...
Julius Bär Publishes 2025 Annual and Sustainability Reports
Mar 16, 2026
Julius Bär Group Ltd., the Swiss private banking and wealth management specialist, has released its Annual Report 2025, including the Compensation Report, alongside the 2025 Sustainability Report and the IFRS financial statements of Bank Juli...
Julius Baer Reshapes Board, Taps Hunziker as Vice Chairman and Adds Former FINMA Chief
Feb 2, 2026
Julius Baer Group has announced a reshuffle of its Board of Directors, with Richard Campbell-Breeden deciding not to stand for re-election at the 2026 Annual General Meeting and stepping down as Vice Chairman after overseeing the recruitment of th...
Julius Baer Lifts AuM to Record CHF 521 Billion as Underlying Profit Rises Despite Credit Losses
Feb 2, 2026
Julius Baer reported a 5% rise in assets under management to a record CHF 521 billion in 2025, supported by CHF 14.4 billion of net new money, mainly from clients in Asia, Western Europe and the Middle East, and buoyant equity markets, despite the...
Julius Bär reshapes top management with new COO and communications chief
Jan 14, 2026
Julius Bär Group has announced key leadership changes to support its ongoing strategic transformation, appointing experienced financial services executive Jean Nabaa as Chief Operating Officer and member of the Executive Board from 13 April 2...
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.