Banque Cantonale Vaudoise

BCVN.SW

Banks - Regional · Financial Services

Price

CHF 123.10

+1.60 (+1.32%)

Market Cap

CHF 10.57B

Exchange

SIX Swiss Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Growth

Mixed

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

Banque Cantonale Vaudoise (BCV) is a Swiss regional bank based in Lausanne, in the canton of Vaud. It offers everyday banking services like savings accounts, mortgages, and loans to individuals and businesses. It also provides wealth management and investment services, mainly to clients living in the French-speaking part of Switzerland.

BCV earns money through interest on loans, fees for managing client assets, and commissions on financial transactions. The canton of Vaud owns a majority stake in the bank, which gives it a stable, government-backed foundation and strong local trust — a meaningful competitive advantage in Swiss retail banking. However, BCV operates almost entirely within one Swiss region, which limits its growth potential, and its business is sensitive to changes in Swiss interest rates, which directly affect how much profit it earns on loans.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+156.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+4.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

CHF 0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

67.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 62.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Banque Cantonale Vaudoise grew revenue 157% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 85.9M (2021) → 85.9M (2025)

Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales growth

Sales YoY

+30.5%

Fast-growing sales (+30.5% YoY)

Profit growth

EPS YoY

+1.2%

Flat earnings

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit

P/E Ratio (TTM)

24.0x

Growth-priced — P/E 24.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+1.1

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

3.57%

Moderate income — 3.57% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-78.4%

Dividend cut (-78.4% YoY) — warning sign

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