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Swiss (SMI) Market Analysis & Valuation

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies203
  • 7D1.4%
  • 3M-3.3%
  • 1Y-0.9%
  • YTD-3.8%

Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. In line with that, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Market Valuation and Performance

Has the Swiss Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026CHF 1.9tCHF 782.6bCHF 109.7b20x17.3x2.4x
Sun, 22 Feb 2026CHF 2.1tCHF 794.3bCHF 117.0b20.8x17.6x2.6x
Tue, 20 Jan 2026CHF 2.0tCHF 798.2bCHF 115.0b20.3x17.5x2.5x
Thu, 18 Dec 2025CHF 2.0tCHF 797.9bCHF 114.4b20.2x17.1x2.4x
Sat, 15 Nov 2025CHF 1.9tCHF 799.6bCHF 113.8b19.5x16.7x2.4x
Mon, 13 Oct 2025CHF 1.9tCHF 775.5bCHF 90.5b19.5x20.9x2.4x
Wed, 10 Sep 2025CHF 1.9tCHF 774.4bCHF 90.1b19.5x20.7x2.4x
Fri, 08 Aug 2025CHF 1.8tCHF 774.8bCHF 89.8b20.5x20.3x2.4x
Sun, 06 Jul 2025CHF 1.8tCHF 784.4bCHF 106.7b20.2x16.9x2.3x
Tue, 03 Jun 2025CHF 1.8tCHF 784.0bCHF 106.2b20.2x17.2x2.3x
Thu, 01 May 2025CHF 1.8tCHF 837.2bCHF 157.8b19.4x11.3x2.1x
Sat, 29 Mar 2025CHF 1.9tCHF 849.9bCHF 158.9b20x11.8x2.2x
Mon, 24 Feb 2025CHF 1.9tCHF 812.0bCHF 117.2b21.1x16.3x2.4x
Wed, 22 Jan 2025CHF 1.8tCHF 817.8bCHF 117.8b21.4x15.4x2.2x
Fri, 20 Dec 2024CHF 1.7tCHF 814.7bCHF 117.5b20.6x14.6x2.1x
Sun, 17 Nov 2024CHF 1.7tCHF 811.6bCHF 117.2b19.8x14.8x2.1x
Tue, 15 Oct 2024CHF 1.8tCHF 800.3bCHF 114.9b21.5x15.8x2.3x
Thu, 12 Sep 2024CHF 1.8tCHF 803.3bCHF 114.0b20.8x15.7x2.2x
Sat, 10 Aug 2024CHF 1.8tCHF 802.5bCHF 136.5b20.9x13.1x2.2x
Mon, 08 Jul 2024CHF 1.8tCHF 801.1bCHF 125.9b21.4x14.4x2.3x
Wed, 05 Jun 2024CHF 1.8tCHF 799.4bCHF 125.3b21.6x14.4x2.3x
Fri, 03 May 2024CHF 1.7tCHF 799.3bCHF 125.4b21.3x13.6x2.1x
Sun, 31 Mar 2024CHF 1.8tCHF 766.5bCHF 96.9b21.9x18.4x2.3x
Tue, 27 Feb 2024CHF 1.7tCHF 789.5bCHF 110.8b20.1x15.6x2.2x
Thu, 25 Jan 2024CHF 1.7tCHF 764.8bCHF 110.1b18x15.3x2.2x
Sat, 23 Dec 2023CHF 1.7tCHF 763.6bCHF 109.8b18.4x15.3x2.2x
Mon, 20 Nov 2023CHF 1.6tCHF 772.6bCHF 111.5b17.9x14.6x2.1x
Wed, 18 Oct 2023CHF 1.6tCHF 761.2bCHF 100.2b18.2x16.3x2.1x
Fri, 15 Sep 2023CHF 1.7tCHF 750.8bCHF 99.4b18.8x16.8x2.2x
Sun, 13 Aug 2023CHF 1.7tCHF 745.8bCHF 75.2b18.2x22.3x2.3x
Tue, 11 Jul 2023CHF 1.7tCHF 755.3bCHF 76.7b19x21.9x2.2x
Thu, 08 Jun 2023CHF 1.7tCHF 788.4bCHF 82.7b18.7x21x2.2x
Sat, 06 May 2023CHF 1.8tCHF 785.2bCHF 80.6b19.6x22.1x2.3x
Mon, 03 Apr 2023CHF 1.7tCHF 780.6bCHF 69.4b19.5x25x2.2x
Price to Earnings Ratio

25x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 69.4bTotal Revenue: CHF 780.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Market Price to Earnings3Y Average 17.1x202420252026
Current Market PE
  • Investors are relatively neutral on the Swiss market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.1x.
Past Earnings Growth
  • The earnings for Swiss listed companies have grown 16% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Swiss Market?

CH Market1.39%
Consumer Discretionary6.26%
Materials3.41%
Healthcare2.29%
Financials0.80%
Tech0.78%
Consumer Staples0.13%
Industrials-0.35%
Utilities-0.57%
Telecom-1.27%
Real Estate-1.71%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 29.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.5% which is higher than its past year's earnings decline of 14.4% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 7.6x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 6.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ROP Roche HoldingCHF 312.802.3%
+CHF 5.6b		6.3%PE19.3xHealthcare
NOVN NovartisCHF 119.522.3%
+CHF 5.0b		21.6%PE20.5xHealthcare
CFR Compagnie Financière RichemontCHF 139.506.4%
+CHF 4.9b		-12.9%PE23.4xConsumer Discretionary
HOLN HolcimCHF 66.285.9%
+CHF 2.0b		-32.1%PE94.2xMaterials
GALD Galderma GroupCHF 151.206.0%
+CHF 2.0b		62.9%PE72.7xHealthcare
See more

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Latest News

CFR
CHF 139.50
Compagnie Financière Richemont
7D
6.4%
1Y
-12.9%
GALD
CHF 151.20
Galderma Group
7D
6.0%
1Y
62.9%
SCHN
CHF 246.00
Schindler Holding
7D
-2.6%
1Y
-8.2%

SCHN: Cost Execution Progress Will Drive Bullish Repricing Despite Neutral Rating Shift

Schindler Holding's analyst price target has been reset slightly higher to CHF 319. The change reflects a mix of new Neutral initiations and downgrades citing slower cost savings, alongside modest trims to Buy-rated targets around CHF 326.
ROP
CHF 312.80
Roche Holding
7D
2.3%
1Y
6.3%
ROG
CHF 322.30
Roche Holding
7D
-3.0%
1Y
3.6%
HOLN
CHF 66.28
Holcim
7D
5.9%
1Y
-32.1%

HOLN: Circular Expansion And Cement Pricing Support Will Shape Upside Risk Balance

Holcim's updated analyst price target edges slightly lower to CHF 78 from CHF 80, as analysts factor in a reduced future P/E assumption to 21.24x, along with adjusted expectations for revenue growth, profit margins and discount rates. Recent Street research reflects a mix of target hikes and trims clustered around the CHF 72 to CHF 80 range.
GIVN
CHF 2,646.00
Givaudan
7D
-2.0%
1Y
-30.4%

GIVN: Fair Stance Will Balance Dividend Appeal And Cautious Bank Revisions

Givaudan's analyst price target is trimmed to CHF 2,875 from CHF 2,900 as analysts factor in more cautious assumptions about revenue growth, slightly firmer profit margins and updated P/E expectations following a series of recent target cuts across the Street. Analyst Commentary Recent Street research around Givaudan has leaned more cautious, with several bearish analysts trimming price targets and reassessing the risk and reward trade off.
SCMN
CHF 695.00
Swisscom
7D
-1.3%
1Y
30.1%
SPSN
CHF 134.60
Swiss Prime Site
7D
-3.3%
1Y
26.0%
NOVN
CHF 119.52
Novartis
7D
2.3%
1Y
21.6%
ABBN
CHF 64.64
ABB
7D
-1.8%
1Y
33.9%
SREN
CHF 127.70
Swiss Re
7D
-1.4%
1Y
-16.1%

SREN: Shares Will Balance Dividend Upside With Cautious Earnings Multiple Reset

Analysts have trimmed the blended Swiss Re price target, citing lower revenue growth expectations, a higher profit margin assumption, and a slightly lower future P/E. Newer Street targets have moved to CHF 118 and CHF 145, compared with earlier levels of CHF 120, CHF 130, and CHF 155.
STMN
CHF 83.12
Straumann Holding
7D
8.3%
1Y
-24.2%

STMN: Higher P/E And Dividend Support Will Likely Anchor Balanced Risk Reward

The updated analyst price target for Straumann Holding has been revised to CHF 79 from CHF 84. This change reflects analysts' adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions following a series of recent target cuts across several banks.
NESN
CHF 76.20
Nestlé
7D
-0.6%
1Y
-14.9%
AMRZ
CHF 43.99
Amrize
7D
3.9%
1Y
n/a
LONN
CHF 494.20
Lonza Group
7D
4.4%
1Y
-11.6%