UBS’ third-quarter underlying pretax profit rose 14%, but only about 7% excluding a one-off legal gain. Earnings growth is slowing. Lower costs offset slightly weak revenue outside securities trading, but core revenue came in 3% below company consensus.
UBS' Swiss, European, and Asian wealth management operations are highly profitable, bolstered by its market-leading position in the high- and ultra-high-net-worth markets.
The Credit Suisse merger and the likely steep increase in minimum capital requirements make it very challenging for UBS to return to its premerger profitability ambitions.
Metric | UBS | MS | GS |
|---|---|---|---|
Price/Earnings (Normalized) | 14.18 | 13.28 | 10.88 |
Price/Book Value | 1.67 | 2.66 | 2.41 |
Price/Sales | 2.98 | 3.84 | 3.82 |
Price/Cash Flow | 5.94 | 10.13 | 8.50 |
Metric | UBS | MS | GS |
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
Metric | UBS | MS | GS |
|---|---|---|---|
Return on Assets (Normalized) | 0.77% | 1.45% | 1.27% |
Return on Equity (Normalized) | 14.13% | 21.58% | 24.43% |
Return on Invested Capital (Normalized) | — | — | — |
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United States