Liechtensteinische Landesbank AG (CH:LLBN)
:LLBN
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Liechtensteinische Landesbank AG
(LLBN)
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Rating:54Neutral
Price Target:
CHF95.00
▲(13.37% Upside)
Action:ReiteratedDate:03/04/26
The score is held back primarily by financial-statement concerns—especially the 2025 income statement anomaly, multi-year cash-flow volatility, and higher recent leverage. Technicals are mixed but not decisively bearish (supported by longer-term moving averages), and valuation is reasonable with a moderate P/E and ~3% dividend yield.
Positive Factors
Diversified universal banking model
LLB's mix of private banking, corporate/institutional, retail banking and asset management yields diversified revenue streams (interest and fee income). This reduces reliance on one cyclical segment, supports stable recurring fees from AUM, and strengthens resilience across credit/market cycles.
Negative Factors
Rising leverage
Debt-to-equity near 1.9 signals materially higher leverage versus prior years, reducing balance-sheet flexibility. Elevated leverage increases vulnerability to funding cost shocks, constrains capital allocation, and raises regulatory and rating scrutiny over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified universal banking model
LLB's mix of private banking, corporate/institutional, retail banking and asset management yields diversified revenue streams (interest and fee income). This reduces reliance on one cyclical segment, supports stable recurring fees from AUM, and strengthens resilience across credit/market cycles.
Read all positive factors
Liechtensteinische Landesbank AG (LLBN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.04B
Dividend Yield3.34%
Average Volume (3M)10.56K
Price to Earnings (P/E)15.3
Beta (1Y)0.17
Revenue GrowthN/A
EPS GrowthN/A
CountryCH
Employees995
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.48
Shares Outstanding30,800,000
10 Day Avg. Volume7,519
30 Day Avg. Volume10,559
Financial Highlights & Ratios
PEG Ratio41.75
Price to Book (P/B)1.08
Price to Sales (P/S)-6.22
P/FCF Ratio19.38
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)5.78
Revenue Forecast (FY)CHF577.80M
Liechtensteinische Landesbank AG Business Overview & Revenue Model
Company Description
Liechtensteinische Landesbank Aktiengesellschaft provides banking products and services in Liechtenstein, Switzerland, Austria, Europe, North and South America, Africa, Asia, and internationally. It operates through three segments: Retail & Corpor...
How the Company Makes Money
LLB primarily earns money through a mix of interest-based income and fee-based income typical of universal banks with a significant wealth-management focus. Interest income is generated from the net interest margin: the bank earns interest on loan...
Liechtensteinische Landesbank AG Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
62
Positive
Cash Flow
35
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | -410.40M | 556.56M | 541.97M | 503.19M | 476.40M |
| Gross Profit | -410.40M | 556.56M | 541.77M | 505.90M | 473.91M |
| EBITDA | 0.00 | 0.00 | 232.37M | 206.54M | 198.53M |
| Net Income | 166.50M | 167.11M | 164.57M | 147.54M | 129.91M |
Balance Sheet | |||||
| Total Assets | 28.32B | 27.77B | 25.69B | 25.22B | 25.13B |
| Cash, Cash Equivalents and Short-Term Investments | 5.75B | 7.19B | 6.78B | 6.70B | 8.12B |
| Total Debt | 4.39B | 4.19B | 2.61B | 2.22B | 1.99B |
| Total Liabilities | 25.96B | 25.54B | 23.56B | 23.19B | 22.89B |
| Stockholders Equity | 2.36B | 2.23B | 2.13B | 2.02B | 2.10B |
Cash Flow | |||||
| Free Cash Flow | 131.59M | -388.49M | -517.96M | -69.61M | 740.47M |
| Operating Cash Flow | 156.47M | -353.00M | -483.93M | -33.19M | 763.97M |
| Investing Cash Flow | -1.02B | -212.06M | -80.61M | -461.04M | -290.63M |
| Financing Cash Flow | 486.25M | 340.64M | 294.80M | 45.79M | 81.81M |
Liechtensteinische Landesbank AG Peers Comparison
UnderperformOutperform
Sector (68)
CH:LLBN
Liechtensteinische Landesbank AG
100.00
22.98
29.84%
GB:0QM2
Berner Kantonalbank AG
401.34
165.57
70.23%
GB:0RE6
Walliser Kantonalbank
150.50
35.68
31.07%
GB:0QPJ
Cembra Money Bank AG
95.25
-0.80
-0.83%
GB:0QPU
Valiant Holding
173.13
57.85
50.18%
DE:1Y61
Zuger Kantonalbank AG
11,000.00
5,483.77
99.41%
Liechtensteinische Landesbank AG Corporate Events
LLB bolsters capital market funding with CHF 200 million bond issue
Mar 16, 2026
Liechtensteinische Landesbank AG has strengthened its funding base with the successful placement of a CHF 200 million fixed-interest Senior Preferred bond, which met strong investor demand and will be listed on SIX from 9 April 2026 with a ten-yea...
LLB Group Publishes 2025 Annual Report and Calls 34th General Meeting
Mar 13, 2026
Liechtensteinische Landesbank AG has released its full 2025 Annual Report, providing detailed financial and non-financial information on the past financial year and highlighting milestones in the implementation of its ACT-26 strategy under the the...
LLB Group Holds Profit Steady as Assets Surge Past CHF 125 Billion
Feb 20, 2026
Liechtensteinische Landesbank Group reported a consolidated net profit of CHF 166.5 million for 2025, matching the prior year despite CHF 10 million in integration costs from the full-year consolidation of ZKB Österreich. Business volume surp...
LGT and LLB Launch First Pfandbrief Institute to Strengthen Liechtenstein’s Capital Market
Jan 13, 2026
LGT and Liechtensteinische Landesbank have jointly founded Liechtensteinisches Pfandbriefinstitut (LPBI), creating the first platform in Liechtenstein for issuing Pfandbriefe—covered bonds secured by high-quality mortgages on domestic real e...
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.
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