Liechtensteinische Landesbank AG (CH:LLBN)
:LLBN
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Liechtensteinische Landesbank AG
(LLBN)
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Rating:54Neutral
Price Target:
CHF106.00
▲(26.49% Upside)
Action:Reiterated
Date: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 Wealth & Banking Model
LLB's mix of private banking, wealth management, retail and corporate banking creates diversified fee and interest revenue streams. That reduces reliance on any single product or client segment, supporting stable recurring income and resilience in client relationships over the medium term.
Negative Factors
Multi-year Cash-Flow Volatility
Negative operating and free cash flow across 2022–2024 shows weak cash conversion and recurring funding stress. Such volatility can limit organic reinvestment, force reliance on liabilities for growth, and reduce predictability of capital returns or de-leveraging over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Wealth & Banking Model
LLB's mix of private banking, wealth management, retail and corporate banking creates diversified fee and interest revenue streams. That reduces reliance on any single product or client segment, supporting stable recurring income and resilience in client relationships over the medium term.
Read all positive factors
Liechtensteinische Landesbank AG (LLBN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.17B
Dividend Yield3.34%
Average Volume (3M)10.56K
Price to Earnings (P/E)19.0
Beta (1Y)0.15
Revenue Growth-3.45%
EPS Growth0.05%
CountryCH
Employees995
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)5.47
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)2.98
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)5.8
Revenue Forecast (FY)CHF607.06M
Liechtensteinische Landesbank AG Business Overview & Revenue Model
Company Description
Established in 1861 with its headquarters in Vaduz, Liechtenstein, Liechtensteinische Landesbank Aktiengesellschaft offers a comprehensive suite of banking and financial services on an international scale. Its geographical footprint extends across...
How the Company Makes Money
LLB makes money primarily through a mix of interest income, fee and commission income, and trading/other financial income typical of universal and private banks. Interest income is generated from the spread between interest earned on assets (such ...
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 | 856.73M | 556.56M | 541.97M | 503.19M | 476.40M |
| Gross Profit | 611.77M | 556.56M | 541.77M | 505.90M | 473.91M |
| EBITDA | 241.70M | 232.63M | 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
103.80
24.16
30.34%
GB:0QM2
Berner Kantonalbank AG
353.58
111.18
45.86%
GB:0RE6
Walliser Kantonalbank
158.08
37.24
30.82%
GB:0QPJ
Cembra Money Bank AG
96.00
3.27
3.53%
GB:0QPU
Valiant Holding
158.31
43.72
38.15%
DE:1Y61
Zuger Kantonalbank AG
11,000.00
2,111.42
23.75%
Liechtensteinische Landesbank AG Corporate Events
Moody’s Upgrades Liechtensteinische Landesbank to Aa1, Underscoring Financial Strength
Apr 22, 2026
Moody’s has upgraded Liechtensteinische Landesbank AG’s deposit rating from Aa2 to Aa1, placing the bank among the top-rated institutions worldwide and signalling very high financial stability and a very low default risk. The decision ...
LLB Shareholders Back All AGM Proposals as Bank Delivers Stable Profits and Record Volumes
Apr 17, 2026
Shareholders of Liechtensteinische Landesbank AG approved all motions at the 34th ordinary Annual General Meeting, including the 2025 financial statements, re-election of auditor KPMG and the confirmation of Board members Nicole Brunhart and Chris...
Liechtenstein Issues First Covered Bonds via New Pfandbrief Institute
Apr 1, 2026
Liechtensteinische Pfandbriefinstitut AG, founded in 2026 by LGT and Liechtensteinische Landesbank, has issued the first Liechtenstein covered bonds, closing a key gap in the country’s capital market. The institute’s mandate is to offe...
LLB Group Named Europe’s Best Fund Provider for 2026
Mar 27, 2026
LLB Group, a Liechtenstein-based universal bank and wealth manager, operates across key European markets and the Middle East, offering private banking, asset management and fund services backed by more than 50 proprietary funds. With majority owne...
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.