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Swiss independent financial advisory firm providing pension planning, mortgage and wealth management services to individuals.
Swiss independent financial advisory firm providing pension planning, mortgage and wealth management services to individuals.
Earns fees as a share of the client assets it manages, plus commissions from banks and insurers when it arranges mortgages and insurance. Clients are mainly Swiss individuals, many nearing retirement. Founder Matthias Reinhart is chairman and a leading shareholder.
In one line: A Swiss independent financial planning/RIA-style firm.
Moat: narrow (brand, switching costs). Independent (non-bank) advice model and reputation for objective pension/mortgage guidance in Switzerland.
Headquarters: Zurich, Switzerland · Founded: 1993 · Employees: 1,717
Size VZ Holding AG (VZN.SW) is a Switzerland Financials company (Investment Managers) with a market value of $8.03B, the 39th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 166.80 on 6 Nov 2026.
Performance Over six months the shares gained 16.6%, against -0.6% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 9.1% over the last twelve months (peer median +11.6%); the operating margin is 44.8% (peer median 29.4%).
Valuation It trades at 24.1× forward earnings against a peer median of 14.1× (4th most expensive of 19).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 664M | CHF 628M | CHF 594M | CHF 520M | CHF 421M |
| Revenue growth | — | +6% | +14% | +23% | — |
| Gross profit | CHF 622M | CHF 584M | CHF 529M | CHF 465M | CHF 393M |
| EBITDA | CHF 325M | CHF 301M | CHF 280M | CHF 242M | CHF 198M |
| Net income | CHF 256M | CHF 236M | CHF 218M | CHF 187M | CHF 151M |
| Free cash flow | CHF 275M | CHF 254M | CHF 257M | CHF 269M | CHF 165M |
| Capital expenditure | CHF 25.7M | CHF 21.6M | CHF 22.6M | CHF 10.2M | CHF 32.5M |
| Total debt | n/a | CHF 720M | CHF 755M | CHF 553M | CHF 538M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| VZ Holding AG VZN.SW | $8.03B | +17% | +9% | 45% | 24.1× | n/a |
| Julius Baer Gruppe BAER.SW | $17.1B | +2% | 0% | 30% | 11.3× | n/a |
| Vontobel VONN.SW | $6.18B | +36% | +11% | 25% | 12.6× | n/a |
| Swiss Life SLHN.SW | $33.0B | +14% | 0% | 18% | 20.4× | n/a |
| UBS UBSG.SW | $148B | +13% | -5% | 23% | 13.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VZN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | +1.7% | 7th highest of 21 |
| 6-month return | +16.6% | -0.6% | 5th highest of 20 |
| Distance from 52-week high | -8.7% | -17.8% | 5th highest of 21 |
| Revenue growth (TTM) | +9.1% | +11.6% | 9th lowest of 21 |
| Operating margin | 44.8% | 29.4% | 7th highest of 21 |
| Forward P/E | 24.1× | 14.1× | 4th most expensive of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| VZ Holding AG VZN.SW | Switzerland | $8.03B | +17% | +9% | 45% | 24.1× | n/a | n/a |
| Banca Generali BGN.MI | Italy | $7.73B | +4% | +17% | 38% | 15.3× | n/a | n/a |
| HealthEquity HQY | United States | $8.57B | +22% | +7% | 26% | 20.5× | n/a | n/a |
| Victory Capital VCTR | United States | $7.38B | +40% | +50% | 46% | 14.0× | n/a | n/a |
| ICG ICG.L | United Kingdom | $7.32B | +2% | +6% | 60% | 11.9× | n/a | n/a |
| Nippon Life India Asset Management NAM-INDIA.NS | India | $7.22B | -4% | +23% | 68% | 39.1× | n/a | n/a |
| China Industrial Securities 601377.SS | China | $7.12B | -9% | -11% | 29% | 13.2× | n/a | n/a |
| Affiliated Managers AMG | United States | $9.39B | +20% | +12% | 22% | 9.1× | n/a | n/a |
| ChinaLin Securities 002945.SZ | China | $6.27B | 0% | +15% | 25% | n/a | n/a | n/a |
| EFG International EFGN.SW | Switzerland | $6.26B | -1% | -1% | 26% | 14.4× | n/a | n/a |
| Vontobel VONN.SW | Switzerland | $6.18B | +36% | +11% | 25% | 12.6× | n/a | n/a |
| Stifel Financial SF | United States | $10.7B | -7% | +8% | 22% | 10.3× | n/a | n/a |
| SBI Funds Management SBIFUNDS.NS | India | $10.8B | n/a | +21% | 89% | 31.1× | n/a | n/a |
| China CITIC Financial Asset Management 2799.HK | Hong Kong | $5.83B | -24% | -18% | 135% | 3.1× | n/a | n/a |
| StepStone STEP | United States | $5.73B | -15% | +51% | -53% | 18.1× | n/a | n/a |
| Invesco IVZ | United States | $11.9B | -1% | +17% | 24% | 8.6× | n/a | n/a |
| Capital Securities 601136.SS | China | $5.41B | -21% | +1% | 36% | n/a | n/a | n/a |
| HDFC Asset Management HDFCAMC.NS | India | $12.0B | -7% | +12% | 80% | 35.5× | n/a | n/a |
| Aberdeen ABDN.L | United Kingdom | $5.36B | +2% | +2% | 37% | 14.3× | n/a | n/a |
| Ninety One N91.L | United Kingdom | $5.18B | -6% | +10% | 26% | 11.1× | n/a | n/a |
| SEI Investments SEIC | United States | $12.5B | +15% | +13% | 30% | 15.3× | n/a | n/a |