Zug Estates Holding stock: fair value
ZUGN.SWThe fair value of Zug Estates Holding under our model is $1,943.84, the price is 36% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $1,619.87 and expensive above $2,429.80 (uncertainty low, based on the price swings of the past year).
The two parts of the fair value come to $2,152.38 (cash-flow model) and $1,735.31 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 5.6%. At 6.6% the fair value would be $1,764.43, at 4.6% it would be $2,212.97.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (11.5).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 0.6%. Discounted at 5.6% (floor: government bond yield 0.6% plus 5 percentage points, since beta 0.96 times the risk premium would give less); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $2,152.38 per share: free cash flow for the next ten years, each year discounted to today at 5.6%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 5.6%) |
|---|---|---|---|---|
| 2026 | $54.77M | extrapolated at 0.7% | 0.9470 | $51.86M |
| 2027 | $55.14M | extrapolated at 0.7% | 0.8968 | $49.45M |
| 2028 | $55.5M | extrapolated at 0.7% | 0.8492 | $47.13M |
| 2029 | $55.85M | extrapolated at 0.6% | 0.8042 | $44.92M |
| 2030 | $56.2M | extrapolated at 0.6% | 0.7615 | $42.8M |
| 2031 | $56.55M | extrapolated at 0.6% | 0.7211 | $40.78M |
| 2032 | $56.9M | extrapolated at 0.6% | 0.6829 | $38.86M |
| 2033 | $57.24M | extrapolated at 0.6% | 0.6467 | $37.02M |
| 2034 | $57.59M | extrapolated at 0.6% | 0.6124 | $35.27M |
| 2035 | $57.94M | extrapolated at 0.6% | 0.5799 | $33.6M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $421.68M |
| Terminal value: cash flow 2035 × (1 + 0.6%) / (5.6% − 0.6%) | $1.17B |
| Present value of terminal value (× 0.5799) | $676.03M |
| Equity value (sum plus present value of terminal value) | $1.1B |
| Shares (diluted) | 510.0K |
| Value per share (equity value divided by shares) | $2,152.38 |
| Earnings per share, last twelve months | $150.90 |
| × 11.5 (industry P/E) | $1,735.31 |
| Fair value (average of both parts) | $1,943.84 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CHF 0.8331)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 30 Apr 2023)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.