Swissquote Group Holding

SQN.SW

Financial - Capital Markets · Financial Services

Also trades as: 0QLD.L

Exchange

SIX Swiss Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

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

How the score breaks down

Quality

Exceptional

Growth

Strong

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

Dividends

Good

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Winston Score History

The full picture

Swissquote is a Swiss online bank and brokerage that lets regular people and businesses trade stocks, currencies, cryptocurrencies, and other financial products through its digital platform. It serves retail investors and some institutional clients, primarily in Switzerland and Europe. The company is one of Switzerland's largest online banks and is regulated by FINMA, Switzerland's strict financial regulator.

Swissquote makes money by charging trading fees, earning interest on client deposits, and collecting fees for currency exchange and crypto transactions. It operates mainly in Switzerland but has expanded into markets like the UK, Luxembourg, Dubai, and Asia. Its moat comes from its Swiss banking license, strong regulatory reputation, and a loyal customer base that trusts it with real money. The main growth driver is continued adoption of self-directed investing and crypto trading across Europe, but the main risk is that rising competition from low-cost brokers like Interactive Brokers or fintech apps could pressure its fees over time.

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

+1.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-2.8% YoY

YoY Growth Rate

Earnings declining

Insider Activity

22.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 15.8B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

Swissquote Group Holding is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

76.9%

Premium pricing power — 76.9% gross margin

Profit after running costs

Operating Margin

46.2%

Excellent — 46.2% operating margin

Return on the money invested

ROCE

21.4%

Exceptional — 21.4% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+3.8%

Slow sales growth (+3.8% YoY)

Profit growth

EPS YoY

+17.4%

Earnings growing fast (+17.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

162%

Turns 162% of profit into real cash

Spare cash per sale

FCF Margin

60.3%

Converts sales into free cash efficiently (60.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.20

Conservative — low debt load (0.20)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

16.4x

no trend

Fair value — P/E 16.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+2.7

GROWING

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

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Dividends

Dividend

Dividend Yield

19.16%

no trend

Healthy income — 19.16% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-42.3%

no trend

Dividend cut (-42.3% YoY) — warning sign

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