Fact based stock research
Thurgauer Kantonalbank (SWX:TKBP)

CH0231351104

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Thurgauer Kantonalbank stock research in summary

tkb.ch

ANALYSIS: With an Obermatt Combined Rank of 19 (worse than 81% compared with investment alternatives), Thurgauer Kantonalbank (Regional Banks, Switzerland) shares have lower financial characteristics compared with similar stocks. Shares of Thurgauer Kantonalbank are a good value (attractively priced) with a consolidated Value Rank of 55 (better than 55% of alternatives) but show below-average growth (Growth Rank of 28), and are riskily financed (Safety Rank of 43), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 19, is a sell recommendation based on Thurgauer Kantonalbank's financial characteristics. As the company Thurgauer Kantonalbank's key financial metrics exhibit good value (Obermatt Value Rank of 55) but low growth (Obermatt Growth Rank of 28) and risky financing practices (Obermatt Safety Rank of 43), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 55% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	55
Growth Rank	28
Safety Rank	43
Combined Rank	19

Country	Switzerland
Industry	Regional Banks
Index	SPI
Size class	XX-Large

This stock has achievements: Gold Winner CEO.

25-Apr-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Thurgauer Kantonalbank

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	33	67	28	55
GROWTH
GROWTH	2	84	19	28
SAFETY
SAFETY	40	43	34	43
SENTIMENT
SENTIMENT	n/a	51	84	^new
360° VIEW
360° VIEW	n/a	59	34	^new

Most recent update of the stock research: 25-Apr-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better Thurgauer Kantonalbank is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	33	67	28	55
GROWTH
GROWTH	2	84	19	28
SAFETY
SAFETY	40	43	34	43
COMBINED
COMBINED	47	59	10	19

Last update of combined financial performance: 25-Apr-2024. Stock analysis on combined financial performance: The higher the rank of Thurgauer Kantonalbank the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 55 (better than 55% compared with alternatives), Thurgauer Kantonalbank shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where the majority of metrics are below, and only one is above average for Thurgauer Kantonalbank. Price-to-Sales (P/S) is 100, which means that the stock price compared with what market professionals expect for future sales is lower than 100% of comparable companies, indicating a good value concerning to Thurgauer Kantonalbank's revenue size. But all other performance indicators point in a different direction. Dividend yields have a Dividend Yield rank of 34, meaning that dividends are expected to be lower than for 66% of comparable investments. Furthermore, Price-to-Book Capital (also referred to as market-to-book ratio) is less favorable than 66% of alternatives (only 34% of peers have an even higher ratio). The same is valid for Price-to-Profit (or Price / Earnings, P/E), which is higher than for 66% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 55, is a buy recommendation based on Thurgauer Kantonalbank's stock price compared with the company's operational size and dividend yields. Since Price-to-Sales is a stable value indicator even in challenging times, investing in Thurgauer Kantonalbank could be seen as a value investment. However, there must be a good reason for the low market-to-book rank. If the company has a typical capital investment practice, the stock may be overvalued because the profit and dividend-related performance indicators are also low. The stock is only good value if investors can expect profits and dividends to pick up in the future. Else, Thurgauer Kantonalbank looks like an expensive investment today. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	33	83	100	100
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	53	83	40	34
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	40	67	40	34
DIVIDEND YIELD
DIVIDEND YIELD	34	1	21	34
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	33	67	28	55

Last update of Value Rank: 25-Apr-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Thurgauer Kantonalbank; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 28 (better than 28% compared with alternatives), Thurgauer Kantonalbank shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Thurgauer Kantonalbank. Capital Growth has a rank of 76, which means that currently professionals expect the company to grow its invested capital more than 26% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 64 (above 64% of alternative investments). But Sales Growth has only a rank of 1, which means that, currently, professionals expect the company to grow less than 99% of its competitors, and Profit Growth is also low at a rank of 26. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 28, is a hold recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Thurgauer Kantonalbank, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	33	51	1	1
PROFIT GROWTH
PROFIT GROWTH	n/a	67	10	26
CAPITAL GROWTH
CAPITAL GROWTH	n/a	100	76	76
STOCK RETURNS
STOCK RETURNS	33	59	37	64
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	2	84	19	28

Last update of Growth Rank: 25-Apr-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Thurgauer Kantonalbank.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 43 (better than 43% compared with alternatives), the company Thurgauer Kantonalbank has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Thurgauer Kantonalbank is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Thurgauer Kantonalbank and the other two below average. Refinancing is at 100, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 100% of its competitors. But Leverage is high with a rank of 1, meaning the company has an above-average debt-to-equity ratio. It has more debt than 99% of its competitors. Liquidity is also on the riskier side with a rank of 43, meaning the company generates less profit to service its debt than 57% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 43 (worse than 57% compared with alternatives), Thurgauer Kantonalbank has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Thurgauer Kantonalbank are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Thurgauer Kantonalbank and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	60	25	1	1
REFINANCING
REFINANCING	7	26	100	100
LIQUIDITY
LIQUIDITY	9	100	43	43
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	40	43	34	43

Last update of Safety Rank: 25-Apr-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Thurgauer Kantonalbank and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	50	1	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	99	100	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	51	73	^new
MARKET PULSE
MARKET PULSE	n/a	13	100	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	51	84	^new

Last update of Sentiment Rank: 25-Apr-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Thurgauer Kantonalbank.
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