Thurgauer Kantonalbank is a cantonal bank in eastern Switzerland that takes retail and SME deposits and writes mortgages, lending and asset management for clients in the canton of Thurgau. Its edge is the state-guaranteed franchise and deep local deposit base, which keeps funding cheap and loan losses low in a market where competitors are mostly larger national banks. Revenue grew 6.7% and the forward P/E of 18.0x sits just below the trailing 19.5x, so earnings are expected to rise. The return on equity of 5.6% is thin for a bank, and the 39.7% operating margin reflects a balance sheet that is heavily capitalized and ex-growth, so the case rests on whether mortgage and lending volumes can keep compounding. A PM should look closer if they want exposure to Swiss regional banking, but the low ROE is the number to test first.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | CHF 148 | first publication | CHF 162 |
Answered from Thurgauer Kantonalbank fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| TKBP.SW Thurgauer Kantonalbank | CHF 159.50 | - | - | 19.2x | 5.6% | 67 | 48 |
| BPAT.BA Banco Patagonia | ARS 1775.00 | - | - | 10.1x | 5.9% | 74 | 62 |
| BBAR.BA BBVA Banco Frances SA | ARS 7240.00 | - | - | 11.0x | 8.1% | 71 | 68 |
| BMA.BA Banco Macro SA B | ARS 10870.00 | - | - | 15.4x | 7.1% | 79 | 57 |
| BOGOTA.CL Banco de Bogota | COP 38240.00 | - | - | 9.0x | 9.2% | 61 | 49 |
| PFDAVVNDA.CL Davivienda Group preferred | COP 28740.00 | - | - | 8.2x | 10.3% | 53 | 82 |
| ITAUCL.SN Banco Itau Chile | CLP 22500.00 | - | - | 12.3x | 9.4% | 81 | 71 |
Where TKBP.SW ranks against its sector peers on each metric.