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Helvetia Holding AG
(HBAN)
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Rating:68Neutral
Price Target:
CHF229.00
▲(2.97% Upside)
Action:Reiterated
Date:06/25/26
The score is driven primarily by improved 2025 financial momentum (rebounding earnings and a strong cash-flow recovery), supported by a bullish technical setup with price above key moving averages and a positive MACD. The main constraints are historical volatility in revenue/cash flow and a notably lower ROE in 2025, while valuation looks reasonable but not clearly cheap given the ~19.5 P/E despite a 3.7% dividend yield.
Positive Factors
Improved cash generation (2025)
A material FCF recovery in 2025 (FCF 716.3M, OCF 790.8M) shows the company can convert underwriting and investment results to cash. Durable cash generation strengthens ability to fund reserves, invest in growth, sustain dividends and absorb claims shocks over the medium term.
Negative Factors
Volatile revenue and cash flow history
Historic top-line and cash-flow volatility makes earnings and capital planning less predictable. For an insurer, cyclical revenue and unstable cash conversion complicate reserving, pricing discipline and capital buffers, increasing the chance of earnings surprises during adverse loss or interest-rate cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation (2025)
A material FCF recovery in 2025 (FCF 716.3M, OCF 790.8M) shows the company can convert underwriting and investment results to cash. Durable cash generation strengthens ability to fund reserves, invest in growth, sustain dividends and absorb claims shocks over the medium term.
Read all positive factors
Helvetia Holding AG (HBAN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF21.20B
Dividend Yield3.19%
Average Volume (3M)78.66K
Price to Earnings (P/E)20.7
Beta (1Y)0.53
Revenue Growth-2.89%
EPS Growth-9.14%
CountryCH
Employees11,915
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)10.32
Shares Outstanding99,418,090
10 Day Avg. Volume81,768
30 Day Avg. Volume78,662
Financial Highlights & Ratios
PEG Ratio1.37
Price to Book (P/B)0.83
Price to Sales (P/S)1.09
P/FCF Ratio15.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF267.00Price Target Upside20.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)11.34
Revenue Forecast (FY)CHF13.66B
Helvetia Holding AG Business Overview & Revenue Model
Company Description
Helvetia Holding AG functions as a financial services group, leveraging its subsidiaries to deliver a comprehensive suite of life, non-life, and reinsurance products. Its extensive market presence spans Switzerland, Germany, Austria, Spain, Italy,...
How the Company Makes Money
Helvetia makes money primarily through its insurance operations. In non-life (property & casualty) insurance, it earns premium income from policies (e.g., motor, property, liability and commercial lines). From those premiums it pays claims and ope...
Helvetia Holding AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
61
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.25B | 11.22B | 9.23B | 10.14B | 12.31B |
| Gross Profit | 2.18B | 11.22B | 10.48B | 10.14B | 12.31B |
| EBITDA | 983.20M | 824.90M | 653.80M | 720.70M | 1.00B |
| Net Income | 574.70M | 481.80M | 283.20M | 438.80M | 497.20M |
Balance Sheet | |||||
| Total Assets | 146.46B | 60.96B | 61.49B | 59.99B | 70.01B |
| Cash, Cash Equivalents and Short-Term Investments | 4.53B | 2.10B | 2.76B | 2.38B | 1.86B |
| Total Debt | 4.51B | 2.00B | 1.99B | 2.86B | 2.88B |
| Total Liabilities | 132.70B | 56.52B | 55.10B | 56.21B | 63.60B |
| Stockholders Equity | 13.48B | 4.14B | 3.81B | 3.46B | 5.93B |
Cash Flow | |||||
| Free Cash Flow | 716.30M | -118.20M | 907.30M | 807.70M | 993.30M |
| Operating Cash Flow | 790.80M | 42.90M | 1.01B | 923.20M | 1.11B |
| Investing Cash Flow | 2.63B | -149.90M | -131.40M | -1.00B | -983.90M |
| Financing Cash Flow | -295.40M | -370.10M | -406.50M | -185.70M | -472.20M |
Helvetia Holding AG Technical Analysis
Positive
222.40
Price Trends
206.09
Positive
201.41
Positive
197.07
Positive
Market Momentum
2.32
Negative
64.31
Neutral
81.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:HBAN, the sentiment is Positive. The current price of 222.4 is above the 20-day moving average (MA) of 210.37, above the 50-day MA of 206.09, and above the 200-day MA of 197.07, indicating a bullish trend. The MACD of 2.32 indicates Negative momentum. The RSI at 64.31 is Neutral, neither overbought nor oversold. The STOCH value of 81.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:HBAN.
Helvetia Holding AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | CHF2.36B | 15.16 | 6.06% | 3.38% | 5.93% | 5.73% | |
74 Outperform | CHF90.94B | 12.42 | 23.97% | 4.66% | -3.71% | 10.90% | |
73 Outperform | CHF36.57B | 14.47 | 14.51% | 4.49% | -10.43% | 35.93% | |
69 Neutral | CHF26.01B | 28.18 | 12.52% | 3.80% | -0.42% | 2.40% | |
68 Neutral | CHF21.20B | 20.68 | ― | 3.19% | -2.89% | -9.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
CH:HBAN
Helvetia Holding AG
213.40
26.75
14.33%
CH:SLHN
Swiss Life Holding AG
942.00
159.87
20.44%
CH:ZURN
Zurich Insurance Group
613.60
92.54
17.76%
CH:SREN
Swiss Re AG
136.00
2.70
2.03%
CH:VAHN
Vaudoise Assurances Holding SA
814.00
216.70
36.28%
Helvetia Holding AG Corporate Events
Helvetia Baloise Shareholders Back Board, Approve Higher Dividend After Strong 2025
May 22, 2026
Shareholders of the newly merged Helvetia Baloise Holding AG approved all proposals from the Board of Directors at the group’s first General Meeting in Basel. They re-elected the entire board, endorsed amendments to the Articles of Associati...
Helvetia Baloise Highlights Strong 2025 Solvency After Merger Integration
Apr 28, 2026
Helvetia Baloise has published its report on the financial position for 2025, confirming very strong capitalization and solvency across the newly merged group. Using a granular Swiss Solvency Test model that keeps Helvetia and Baloise as separate ...
Helvetia Baloise Raises CHF 550 Million in First Post-Merger Bond Issue
Apr 23, 2026
Helvetia Baloise Holding AG has issued three tranches of senior bonds totaling CHF 550 million on the Swiss capital market, marking its first bond transaction since the merger of Helvetia and Baloise. The proceeds will be used for general corporat...
Helvetia Baloise Delivers Strong 2025, Lifts Dividend and Sets Aggressive 2028 Targets
Apr 15, 2026
Helvetia Baloise Holding AG reported a strong 2025, with Helvetia’s Underlying Earnings rising 19.8% to CHF 633.4 million, driven largely by a stronger underwriting result in non-life insurance and solid life business profits. Baloise posted...
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.