View ValuationSwatch Group 향후 성장Future 기준 점검 3/6Swatch Group (는) 각각 연간 35.3% 및 3.7% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 34.4% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 3.2% 로 예상됩니다.핵심 정보35.3%이익 성장률34.36%EPS 성장률Luxury 이익 성장13.2%매출 성장률3.7%향후 자기자본이익률3.18%애널리스트 커버리지Good마지막 업데이트15 May 2026최근 향후 성장 업데이트Price Target Changed • Feb 18Price target increased by 7.2% to CHF152Up from CHF142, the current price target is an average from 20 analysts. New target price is 24% below last closing price of CHF199. Stock is up 20% over the past year. The company is forecast to post earnings per share of CHF4.77 for next year compared to CHF0.058 last year.Major Estimate Revision • Oct 07Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CHF1.76 to CHF1.99. Revenue forecast unchanged at CHF6.21b. Net income forecast to grow 197% next year vs 16% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF135. Share price rose 3.6% to CHF155 over the past week.Major Estimate Revision • Sep 03Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CHF2.07 to CHF1.75 per share. Revenue forecast steady at CHF6.20b. Net income forecast to grow 175% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF133. Share price fell 4.2% to CHF144 over the past week.Major Estimate Revision • Jul 18Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.54b to CHF6.40b. EPS estimate also fell from CHF5.10 per share to CHF4.39 per share. Net income forecast to grow 13% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF148 to CHF143. Share price rose 2.9% to CHF140 over the past week.Major Estimate Revision • Jun 29Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.77b to CHF6.63b. EPS estimate also fell from CHF6.53 per share to CHF5.46 per share. Net income forecast to grow 45% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF151. Share price was steady at CHF131 over the past week.Major Estimate Revision • Apr 15Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.97b to CHF6.82b. EPS estimate also fell from CHF7.51 per share to CHF6.61 per share. Net income forecast to grow 67% next year vs 11% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF157. Share price rose 2.6% to CHF134 over the past week.모든 업데이트 보기Recent updatesUpcoming Dividend • May 08Upcoming dividend of CHF4.50 per shareEligible shareholders must have bought the stock before 15 May 2026. Payment date: 19 May 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.1%. Lower than top quartile of Swiss dividend payers (3.6%). In line with average of industry peers (2.2%).공시 • Apr 09The Swatch Group AG, Annual General Meeting, May 12, 2026The Swatch Group AG, Annual General Meeting, May 12, 2026, at 10:00 W. Europe Standard Time.Reported Earnings • Mar 19Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance.Price Target Changed • Feb 18Price target increased by 7.2% to CHF152Up from CHF142, the current price target is an average from 20 analysts. New target price is 24% below last closing price of CHF199. Stock is up 20% over the past year. The company is forecast to post earnings per share of CHF4.77 for next year compared to CHF0.058 last year.Declared Dividend • Feb 02Dividend of CHF4.50 announcedDividend of CHF4.50 is the same as last year. Ex-date: 15th May 2026 Payment date: 19th May 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 77x earnings) nor is it covered by cash flows (402% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 8,551% to bring the payout ratio under control. EPS is expected to grow by 262% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • Feb 01Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance.공시 • Jan 31The Swatch Group AG announces Annual dividend, payable on May 19, 2026The Swatch Group AG announced Annual dividend of CHF 4.5000 per share payable on May 19, 2026, ex-date on May 15, 2026 and record date on May 18, 2026.New Risk • Jan 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin).분석 기사 • Oct 28What The Swatch Group AG's (VTX:UHR) P/S Is Not Telling YouWhen close to half the companies in the Luxury industry in Switzerland have price-to-sales ratios (or "P/S") below...New Risk • Oct 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin).Major Estimate Revision • Oct 07Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CHF1.76 to CHF1.99. Revenue forecast unchanged at CHF6.21b. Net income forecast to grow 197% next year vs 16% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF135. Share price rose 3.6% to CHF155 over the past week.분석 기사 • Sep 10Swatch Group (VTX:UHR) Has More To Do To Multiply In Value Going ForwardFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Major Estimate Revision • Sep 03Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CHF2.07 to CHF1.75 per share. Revenue forecast steady at CHF6.20b. Net income forecast to grow 175% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF133. Share price fell 4.2% to CHF144 over the past week.분석 기사 • Aug 12Is Swatch Group (VTX:UHR) A Risky Investment?SWX:UHR 1 Year Share Price vs Fair Value Explore Swatch Group's Fair Values from the Community and select yours David...Buy Or Sell Opportunity • Jul 28Now 23% undervaluedOver the last 90 days, the stock has risen 5.7% to CHF150. The fair value is estimated to be CHF195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 41% per annum over the same time period.분석 기사 • Jul 25Why Swatch Group's (VTX:UHR) Shaky Earnings Are Just The Beginning Of Its ProblemsThe subdued market reaction suggests that The Swatch Group AG's ( VTX:UHR ) recent earnings didn't contain any...Reported Earnings • Jul 20First half 2025 earnings releasedFirst half 2025 results: Revenue: CHF3.06b (down 11% from 1H 2024). Net income: CHF3.00m (down 98% from 1H 2024). Profit margin: 0.1% (down from 3.9% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Luxury industry in Europe.Major Estimate Revision • Jul 18Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.54b to CHF6.40b. EPS estimate also fell from CHF5.10 per share to CHF4.39 per share. Net income forecast to grow 13% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF148 to CHF143. Share price rose 2.9% to CHF140 over the past week.분석 기사 • Jul 09Some Confidence Is Lacking In The Swatch Group AG's (VTX:UHR) P/SIt's not a stretch to say that The Swatch Group AG's ( VTX:UHR ) price-to-sales (or "P/S") ratio of 1x right now seems...Major Estimate Revision • Jun 29Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.77b to CHF6.63b. EPS estimate also fell from CHF6.53 per share to CHF5.46 per share. Net income forecast to grow 45% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF151. Share price was steady at CHF131 over the past week.분석 기사 • Jun 20Estimating The Intrinsic Value Of The Swatch Group AG (VTX:UHR)Key Insights The projected fair value for Swatch Group is CHF141 based on 2 Stage Free Cash Flow to Equity Current...Upcoming Dividend • May 16Upcoming dividend of CHF4.50 per shareEligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.1%. Lower than top quartile of Swiss dividend payers (3.9%). Higher than average of industry peers (1.9%).공시 • Apr 16The Swatch Group AG, Annual General Meeting, May 21, 2025The Swatch Group AG, Annual General Meeting, May 21, 2025, at 10:00 W. Europe Standard Time.Major Estimate Revision • Apr 15Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.97b to CHF6.82b. EPS estimate also fell from CHF7.51 per share to CHF6.61 per share. Net income forecast to grow 67% next year vs 11% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF157. Share price rose 2.6% to CHF134 over the past week.Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CHF132, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Luxury industry in Europe. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF146 per share.Reported Earnings • Mar 20Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CHF3.73 (down from CHF16.76 in FY 2023). Revenue: CHF6.74b (down 15% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.9% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Declared Dividend • Feb 03Dividend reduced to CHF4.50Dividend of CHF4.50 is 31% lower than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 115% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Feb 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CHF3.73 (down from CHF16.76 in FY 2023). Revenue: CHF6.74b (down 15% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.9% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.공시 • Feb 01+ 1 more updateThe Swatch Group AG to Report First Half, 2025 Results on Jul 31, 2025The Swatch Group AG announced that they will report first half, 2025 results on Jul 31, 2025Major Estimate Revision • Jan 31Consensus EPS estimates fall by 23%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF7.21b to CHF6.96b. EPS estimate also fell from CHF11.18 per share to CHF8.62 per share. Net income forecast to shrink 18% next year vs 13% growth forecast for Luxury industry in Switzerland . Consensus price target down from CHF169 to CHF165. Share price rose 2.1% to CHF170 over the past week.Buy Or Sell Opportunity • Nov 04Now 20% undervaluedOver the last 90 days, the stock has risen 1.4% to CHF179. The fair value is estimated to be CHF224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.Buy Or Sell Opportunity • Oct 01Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.5% to CHF178. The fair value is estimated to be CHF224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CHF176, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Luxury industry in Europe. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF223 per share.New Risk • Sep 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (7.1% net profit margin).Major Estimate Revision • Jul 22Consensus EPS estimates fall by 35%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CHF7.82b to CHF7.44b. EPS estimate also fell from CHF16.31 per share to CHF10.64 per share. Net income forecast to grow 33% next year vs 12% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF223 to CHF199. Share price rose 4.1% to CHF178 over the past week.Reported Earnings • Jul 17First half 2024 earnings releasedFirst half 2024 results: Revenue: CHF3.45b (down 14% from 1H 2023). Net income: CHF136.0m (down 72% from 1H 2023). Profit margin: 3.9% (down from 12% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe.Price Target Changed • Jul 16Price target decreased by 8.2% to CHF208Down from CHF226, the current price target is an average from 21 analysts. New target price is 22% above last closing price of CHF171. Stock is down 39% over the past year. The company is forecast to post earnings per share of CHF12.94 for next year compared to CHF16.76 last year.Buy Or Sell Opportunity • Jul 16Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to CHF171. The fair value is estimated to be CHF221, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period.Upcoming Dividend • May 06Upcoming dividend of CHF6.50 per shareEligible shareholders must have bought the stock before 13 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (1.6%).Buy Or Sell Opportunity • Mar 18Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to CHF207. The fair value is estimated to be CHF260, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period.Buy Or Sell Opportunity • Feb 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 7.8% to CHF209. The fair value is estimated to be CHF261, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period.Price Target Changed • Feb 02Price target decreased by 7.6% to CHF243Down from CHF263, the current price target is an average from 22 analysts. New target price is 20% above last closing price of CHF202. Stock is down 38% over the past year. The company is forecast to post earnings per share of CHF16.79 for next year compared to CHF16.76 last year.Major Estimate Revision • Jan 30Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CHF8.16b to CHF7.98b. EPS estimate also fell from CHF19.12 per share to CHF16.83 per share. Net income forecast to grow 0.9% next year vs 13% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF268 to CHF245. Share price was steady at CHF202 over the past week.Price Target Changed • Jan 25Price target decreased by 7.8% to CHF247Down from CHF268, the current price target is an average from 22 analysts. New target price is 25% above last closing price of CHF198. Stock is down 39% over the past year. The company is forecast to post earnings per share of CHF16.89 for next year compared to CHF16.76 last year.Declared Dividend • Jan 25Dividend of CHF6.50 announcedShareholders will receive a dividend of CHF6.50. Ex-date: 13th May 2024 Payment date: 15th May 2024 Dividend yield will be 3.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Jan 24Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: CHF2.00b (up 3.0% from 3Q 2022). Net income: CHF191.5m (down 23% from 3Q 2022). Profit margin: 9.6% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 4 years, compared to a 6.8% growth forecast for the Luxury industry in Europe.공시 • Jan 24The Swatch Group AG to Report First Half, 2024 Results on Jul 31, 2024The Swatch Group AG announced that they will report first half, 2024 results on Jul 31, 2024공시 • Jan 23The Swatch Group AG to Report Fiscal Year 2023 Results on Mar 21, 2024The Swatch Group AG announced that they will report fiscal year 2023 results on Mar 21, 2024공시 • Oct 24The Swatch Group AG, Annual General Meeting, May 08, 2024The Swatch Group AG, Annual General Meeting, May 08, 2024.New Risk • Aug 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (275% cash payout ratio). Share price has been volatile over the past 3 months (4.4% average weekly change).Buying Opportunity • Jul 17Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 5.6%. The fair value is estimated to be CHF348, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 14% in the next 2 years.Reported Earnings • Jul 14First half 2023 earnings releasedFirst half 2023 results: Revenue: CHF4.02b (up 11% from 1H 2022). Net income: CHF486.0m (up 56% from 1H 2022). Profit margin: 12% (up from 8.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 05Upcoming dividend of CHF6.00 per share at 2.0% yieldEligible shareholders must have bought the stock before 12 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 39% and the cash payout ratio is 84%. Trailing yield: 2.0%. Lower than top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (1.3%).Buying Opportunity • Apr 03Now 23% undervaluedOver the last 90 days, the stock is up 8.9%. The fair value is estimated to be CHF390, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.Reported Earnings • Mar 20Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: CHF15.57 (up from CHF14.78 in FY 2021). Revenue: CHF7.50b (up 2.5% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Mar 15Now 20% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be CHF395, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.Buying Opportunity • Feb 10Now 20% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be CHF396, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.Price Target Changed • Jan 25Price target increased by 8.0% to CHF311Up from CHF288, the current price target is an average from 24 analysts. New target price is approximately in line with last closing price of CHF322. Stock is up 13% over the past year. The company is forecast to post earnings per share of CHF18.09 for next year compared to CHF3.11 last year.Reported Earnings • Jan 25Full year 2022 earnings released: EPS: CHF3.11 (vs CHF14.78 in FY 2021)Full year 2022 results: EPS: CHF3.11. Revenue: CHF7.74b (up 5.9% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe.공시 • Jan 24+ 1 more updateThe Swatch Group AG to Report Fiscal Year 2022 Results on Mar 16, 2023The Swatch Group AG announced that they will report fiscal year 2022 results on Mar 16, 2023Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Chairman of Tissot Board & Member of Executive Group Management Board Francois Thiebaud was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Buying Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 6.8%. The fair value is estimated to be CHF273, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 20% in the next 2 years.이익 및 매출 성장 예측SWX:UHR - 애널리스트 향후 추정치 및 과거 재무 데이터 (CHF Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20286,9773872496601312/31/20276,7233675026751812/31/20266,4122595279711812/31/20256,280358507N/A9/30/20256,31532-9465N/A6/30/20256,34960-76423N/A3/31/20256,542127-145378N/A12/31/20246,735193-214333N/A9/30/20247,025356-236379N/A6/30/20247,314519-259424N/A3/31/20247,601694-214520N/A12/31/20237,888869-169615N/A9/30/20237,897926-28667N/A6/30/20237,906982113718N/A3/31/20237,703895226721N/A12/31/20227,499807339724N/A9/30/20227,516808533895N/A6/30/20227,5338097261,066N/A3/31/20227,4237878651,182N/A12/31/20217,3137651,0041,298N/A9/30/20217,0526421,0581,304N/A6/30/20216,7905191,1111,310N/A3/31/20216,1932348501,065N/A12/31/20205,595-51589819N/A9/30/20205,979-14556848N/A6/30/20206,36223523876N/A3/31/20207,3033776511,050N/A12/31/20198,2437307781,224N/A9/30/20198,265761N/A1,060N/A6/30/20198,287791N/A896N/A3/31/20198,381818N/A920N/A12/31/20188,475845N/A943N/A9/30/20188,506884N/A1,097N/A6/30/20188,536922N/A1,250N/A3/31/20188,263828N/A1,257N/A12/31/20177,989733N/A1,264N/A9/30/20177,773663N/A1,165N/A6/30/20177,556592N/A1,066N/A3/31/20177,555583N/A1,038N/A12/31/20167,553574N/A1,010N/A9/30/20167,764694N/A987N/A6/30/20167,975814N/A964N/A3/31/20168,213952N/A1,184N/A12/31/20158,4511,089N/A1,404N/A9/30/20158,6251,170N/A1,530N/A6/30/20158,7991,251N/A1,656N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: UHR 의 연간 예상 수익 증가율(35.3%)이 saving rate(0.6%)보다 높습니다.수익 vs 시장: UHR 의 연간 수익(35.3%)이 Swiss 시장(10.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: UHR 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: UHR 의 수익(연간 3.7%)이 Swiss 시장(연간 4.9%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: UHR 의 수익(연간 3.7%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: UHR의 자본 수익률은 3년 후 3.2%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-durables 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 18:04종가2026/05/21 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스The Swatch Group AG는 35명의 분석가가 다루고 있습니다. 이 중 18명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Christian WeizBaader Helvea Equity ResearchMariano SzachtmanBanco SantanderLilian NilssonBarclays32명의 분석가 더 보기
Price Target Changed • Feb 18Price target increased by 7.2% to CHF152Up from CHF142, the current price target is an average from 20 analysts. New target price is 24% below last closing price of CHF199. Stock is up 20% over the past year. The company is forecast to post earnings per share of CHF4.77 for next year compared to CHF0.058 last year.
Major Estimate Revision • Oct 07Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CHF1.76 to CHF1.99. Revenue forecast unchanged at CHF6.21b. Net income forecast to grow 197% next year vs 16% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF135. Share price rose 3.6% to CHF155 over the past week.
Major Estimate Revision • Sep 03Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CHF2.07 to CHF1.75 per share. Revenue forecast steady at CHF6.20b. Net income forecast to grow 175% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF133. Share price fell 4.2% to CHF144 over the past week.
Major Estimate Revision • Jul 18Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.54b to CHF6.40b. EPS estimate also fell from CHF5.10 per share to CHF4.39 per share. Net income forecast to grow 13% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF148 to CHF143. Share price rose 2.9% to CHF140 over the past week.
Major Estimate Revision • Jun 29Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.77b to CHF6.63b. EPS estimate also fell from CHF6.53 per share to CHF5.46 per share. Net income forecast to grow 45% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF151. Share price was steady at CHF131 over the past week.
Major Estimate Revision • Apr 15Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.97b to CHF6.82b. EPS estimate also fell from CHF7.51 per share to CHF6.61 per share. Net income forecast to grow 67% next year vs 11% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF157. Share price rose 2.6% to CHF134 over the past week.
Upcoming Dividend • May 08Upcoming dividend of CHF4.50 per shareEligible shareholders must have bought the stock before 15 May 2026. Payment date: 19 May 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.1%. Lower than top quartile of Swiss dividend payers (3.6%). In line with average of industry peers (2.2%).
공시 • Apr 09The Swatch Group AG, Annual General Meeting, May 12, 2026The Swatch Group AG, Annual General Meeting, May 12, 2026, at 10:00 W. Europe Standard Time.
Reported Earnings • Mar 19Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance.
Price Target Changed • Feb 18Price target increased by 7.2% to CHF152Up from CHF142, the current price target is an average from 20 analysts. New target price is 24% below last closing price of CHF199. Stock is up 20% over the past year. The company is forecast to post earnings per share of CHF4.77 for next year compared to CHF0.058 last year.
Declared Dividend • Feb 02Dividend of CHF4.50 announcedDividend of CHF4.50 is the same as last year. Ex-date: 15th May 2026 Payment date: 19th May 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 77x earnings) nor is it covered by cash flows (402% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 8,551% to bring the payout ratio under control. EPS is expected to grow by 262% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • Feb 01Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance.
공시 • Jan 31The Swatch Group AG announces Annual dividend, payable on May 19, 2026The Swatch Group AG announced Annual dividend of CHF 4.5000 per share payable on May 19, 2026, ex-date on May 15, 2026 and record date on May 18, 2026.
New Risk • Jan 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin).
분석 기사 • Oct 28What The Swatch Group AG's (VTX:UHR) P/S Is Not Telling YouWhen close to half the companies in the Luxury industry in Switzerland have price-to-sales ratios (or "P/S") below...
New Risk • Oct 15New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin).
Major Estimate Revision • Oct 07Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CHF1.76 to CHF1.99. Revenue forecast unchanged at CHF6.21b. Net income forecast to grow 197% next year vs 16% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF135. Share price rose 3.6% to CHF155 over the past week.
분석 기사 • Sep 10Swatch Group (VTX:UHR) Has More To Do To Multiply In Value Going ForwardFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Major Estimate Revision • Sep 03Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CHF2.07 to CHF1.75 per share. Revenue forecast steady at CHF6.20b. Net income forecast to grow 175% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF133. Share price fell 4.2% to CHF144 over the past week.
분석 기사 • Aug 12Is Swatch Group (VTX:UHR) A Risky Investment?SWX:UHR 1 Year Share Price vs Fair Value Explore Swatch Group's Fair Values from the Community and select yours David...
Buy Or Sell Opportunity • Jul 28Now 23% undervaluedOver the last 90 days, the stock has risen 5.7% to CHF150. The fair value is estimated to be CHF195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 41% per annum over the same time period.
분석 기사 • Jul 25Why Swatch Group's (VTX:UHR) Shaky Earnings Are Just The Beginning Of Its ProblemsThe subdued market reaction suggests that The Swatch Group AG's ( VTX:UHR ) recent earnings didn't contain any...
Reported Earnings • Jul 20First half 2025 earnings releasedFirst half 2025 results: Revenue: CHF3.06b (down 11% from 1H 2024). Net income: CHF3.00m (down 98% from 1H 2024). Profit margin: 0.1% (down from 3.9% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Luxury industry in Europe.
Major Estimate Revision • Jul 18Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.54b to CHF6.40b. EPS estimate also fell from CHF5.10 per share to CHF4.39 per share. Net income forecast to grow 13% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF148 to CHF143. Share price rose 2.9% to CHF140 over the past week.
분석 기사 • Jul 09Some Confidence Is Lacking In The Swatch Group AG's (VTX:UHR) P/SIt's not a stretch to say that The Swatch Group AG's ( VTX:UHR ) price-to-sales (or "P/S") ratio of 1x right now seems...
Major Estimate Revision • Jun 29Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.77b to CHF6.63b. EPS estimate also fell from CHF6.53 per share to CHF5.46 per share. Net income forecast to grow 45% next year vs 15% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF151. Share price was steady at CHF131 over the past week.
분석 기사 • Jun 20Estimating The Intrinsic Value Of The Swatch Group AG (VTX:UHR)Key Insights The projected fair value for Swatch Group is CHF141 based on 2 Stage Free Cash Flow to Equity Current...
Upcoming Dividend • May 16Upcoming dividend of CHF4.50 per shareEligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.1%. Lower than top quartile of Swiss dividend payers (3.9%). Higher than average of industry peers (1.9%).
공시 • Apr 16The Swatch Group AG, Annual General Meeting, May 21, 2025The Swatch Group AG, Annual General Meeting, May 21, 2025, at 10:00 W. Europe Standard Time.
Major Estimate Revision • Apr 15Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF6.97b to CHF6.82b. EPS estimate also fell from CHF7.51 per share to CHF6.61 per share. Net income forecast to grow 67% next year vs 11% growth forecast for Luxury industry in Switzerland. Consensus price target broadly unchanged at CHF157. Share price rose 2.6% to CHF134 over the past week.
Valuation Update With 7 Day Price Move • Apr 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to CHF132, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Luxury industry in Europe. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF146 per share.
Reported Earnings • Mar 20Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CHF3.73 (down from CHF16.76 in FY 2023). Revenue: CHF6.74b (down 15% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.9% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Declared Dividend • Feb 03Dividend reduced to CHF4.50Dividend of CHF4.50 is 31% lower than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 115% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Feb 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CHF3.73 (down from CHF16.76 in FY 2023). Revenue: CHF6.74b (down 15% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.9% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
공시 • Feb 01+ 1 more updateThe Swatch Group AG to Report First Half, 2025 Results on Jul 31, 2025The Swatch Group AG announced that they will report first half, 2025 results on Jul 31, 2025
Major Estimate Revision • Jan 31Consensus EPS estimates fall by 23%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CHF7.21b to CHF6.96b. EPS estimate also fell from CHF11.18 per share to CHF8.62 per share. Net income forecast to shrink 18% next year vs 13% growth forecast for Luxury industry in Switzerland . Consensus price target down from CHF169 to CHF165. Share price rose 2.1% to CHF170 over the past week.
Buy Or Sell Opportunity • Nov 04Now 20% undervaluedOver the last 90 days, the stock has risen 1.4% to CHF179. The fair value is estimated to be CHF224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.
Buy Or Sell Opportunity • Oct 01Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.5% to CHF178. The fair value is estimated to be CHF224, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 17% per annum over the same time period.
Valuation Update With 7 Day Price Move • Sep 27Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CHF176, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Luxury industry in Europe. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF223 per share.
New Risk • Sep 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (7.1% net profit margin).
Major Estimate Revision • Jul 22Consensus EPS estimates fall by 35%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CHF7.82b to CHF7.44b. EPS estimate also fell from CHF16.31 per share to CHF10.64 per share. Net income forecast to grow 33% next year vs 12% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF223 to CHF199. Share price rose 4.1% to CHF178 over the past week.
Reported Earnings • Jul 17First half 2024 earnings releasedFirst half 2024 results: Revenue: CHF3.45b (down 14% from 1H 2023). Net income: CHF136.0m (down 72% from 1H 2023). Profit margin: 3.9% (down from 12% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe.
Price Target Changed • Jul 16Price target decreased by 8.2% to CHF208Down from CHF226, the current price target is an average from 21 analysts. New target price is 22% above last closing price of CHF171. Stock is down 39% over the past year. The company is forecast to post earnings per share of CHF12.94 for next year compared to CHF16.76 last year.
Buy Or Sell Opportunity • Jul 16Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to CHF171. The fair value is estimated to be CHF221, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period.
Upcoming Dividend • May 06Upcoming dividend of CHF6.50 per shareEligible shareholders must have bought the stock before 13 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (1.6%).
Buy Or Sell Opportunity • Mar 18Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to CHF207. The fair value is estimated to be CHF260, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period.
Buy Or Sell Opportunity • Feb 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 7.8% to CHF209. The fair value is estimated to be CHF261, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period.
Price Target Changed • Feb 02Price target decreased by 7.6% to CHF243Down from CHF263, the current price target is an average from 22 analysts. New target price is 20% above last closing price of CHF202. Stock is down 38% over the past year. The company is forecast to post earnings per share of CHF16.79 for next year compared to CHF16.76 last year.
Major Estimate Revision • Jan 30Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CHF8.16b to CHF7.98b. EPS estimate also fell from CHF19.12 per share to CHF16.83 per share. Net income forecast to grow 0.9% next year vs 13% growth forecast for Luxury industry in Switzerland. Consensus price target down from CHF268 to CHF245. Share price was steady at CHF202 over the past week.
Price Target Changed • Jan 25Price target decreased by 7.8% to CHF247Down from CHF268, the current price target is an average from 22 analysts. New target price is 25% above last closing price of CHF198. Stock is down 39% over the past year. The company is forecast to post earnings per share of CHF16.89 for next year compared to CHF16.76 last year.
Declared Dividend • Jan 25Dividend of CHF6.50 announcedShareholders will receive a dividend of CHF6.50. Ex-date: 13th May 2024 Payment date: 15th May 2024 Dividend yield will be 3.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Jan 24Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: CHF2.00b (up 3.0% from 3Q 2022). Net income: CHF191.5m (down 23% from 3Q 2022). Profit margin: 9.6% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 4 years, compared to a 6.8% growth forecast for the Luxury industry in Europe.
공시 • Jan 24The Swatch Group AG to Report First Half, 2024 Results on Jul 31, 2024The Swatch Group AG announced that they will report first half, 2024 results on Jul 31, 2024
공시 • Jan 23The Swatch Group AG to Report Fiscal Year 2023 Results on Mar 21, 2024The Swatch Group AG announced that they will report fiscal year 2023 results on Mar 21, 2024
공시 • Oct 24The Swatch Group AG, Annual General Meeting, May 08, 2024The Swatch Group AG, Annual General Meeting, May 08, 2024.
New Risk • Aug 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swiss stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (275% cash payout ratio). Share price has been volatile over the past 3 months (4.4% average weekly change).
Buying Opportunity • Jul 17Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 5.6%. The fair value is estimated to be CHF348, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 13% in 2 years. Earnings is forecast to grow by 14% in the next 2 years.
Reported Earnings • Jul 14First half 2023 earnings releasedFirst half 2023 results: Revenue: CHF4.02b (up 11% from 1H 2022). Net income: CHF486.0m (up 56% from 1H 2022). Profit margin: 12% (up from 8.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 05Upcoming dividend of CHF6.00 per share at 2.0% yieldEligible shareholders must have bought the stock before 12 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 39% and the cash payout ratio is 84%. Trailing yield: 2.0%. Lower than top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (1.3%).
Buying Opportunity • Apr 03Now 23% undervaluedOver the last 90 days, the stock is up 8.9%. The fair value is estimated to be CHF390, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.
Reported Earnings • Mar 20Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: CHF15.57 (up from CHF14.78 in FY 2021). Revenue: CHF7.50b (up 2.5% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Mar 15Now 20% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be CHF395, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.
Buying Opportunity • Feb 10Now 20% undervaluedOver the last 90 days, the stock is up 23%. The fair value is estimated to be CHF396, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 13% per annum over the same time period.
Price Target Changed • Jan 25Price target increased by 8.0% to CHF311Up from CHF288, the current price target is an average from 24 analysts. New target price is approximately in line with last closing price of CHF322. Stock is up 13% over the past year. The company is forecast to post earnings per share of CHF18.09 for next year compared to CHF3.11 last year.
Reported Earnings • Jan 25Full year 2022 earnings released: EPS: CHF3.11 (vs CHF14.78 in FY 2021)Full year 2022 results: EPS: CHF3.11. Revenue: CHF7.74b (up 5.9% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe.
공시 • Jan 24+ 1 more updateThe Swatch Group AG to Report Fiscal Year 2022 Results on Mar 16, 2023The Swatch Group AG announced that they will report fiscal year 2022 results on Mar 16, 2023
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Chairman of Tissot Board & Member of Executive Group Management Board Francois Thiebaud was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Buying Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 6.8%. The fair value is estimated to be CHF273, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 20% in the next 2 years.