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

Investors are optimistic on the Swiss market, and appear confident in strong long term growth rates. The market is trading at a PE ratio of 19.2x which is higher than its 3-year average PE of 16.8x.

Which sectors have driven the changes within the Swiss Market?

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 29.1x. The market's confidence is likely because analysts are expecting annual earnings growth of 22.2% which is higher than its past year's earnings decline of 30.9% per year. The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 7.2x.

Swiss (SMI) Market Analysis & Valuation

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 13 May 2026	CHF 2.0t	CHF 771.8b	CHF 102.9b	20.4x	19.2x	2.6x
Fri, 10 Apr 2026	CHF 2.0t	CHF 780.7b	CHF 109.6b	20.8x	17.9x	2.5x
Sun, 08 Mar 2026	CHF 2.0t	CHF 774.6b	CHF 108.7b	21.1x	18x	2.5x
Tue, 03 Feb 2026	CHF 2.0t	CHF 790.6b	CHF 117.9b	20.6x	17x	2.5x
Thu, 01 Jan 2026	CHF 2.0t	CHF 796.8b	CHF 114.8b	20.3x	17.3x	2.5x
Sat, 29 Nov 2025	CHF 1.9t	CHF 806.5b	CHF 115.1b	19.6x	16.8x	2.4x
Mon, 27 Oct 2025	CHF 1.9t	CHF 773.5b	CHF 90.3b	19.6x	21.1x	2.5x
Wed, 24 Sep 2025	CHF 1.8t	CHF 772.6b	CHF 90.1b	19.3x	20.5x	2.4x
Fri, 22 Aug 2025	CHF 1.9t	CHF 778.0b	CHF 90.4b	20.8x	20.7x	2.4x
Sun, 20 Jul 2025	CHF 1.8t	CHF 787.6b	CHF 107.5b	20.4x	17x	2.3x
Tue, 17 Jun 2025	CHF 1.8t	CHF 781.1b	CHF 106.4b	20.1x	17.1x	2.3x
Thu, 15 May 2025	CHF 1.8t	CHF 791.4b	CHF 106.6b	20.1x	17x	2.3x
Sat, 12 Apr 2025	CHF 1.7t	CHF 832.0b	CHF 156.7b	18.2x	10.6x	2x
Mon, 10 Mar 2025	CHF 1.9t	CHF 848.9b	CHF 158.3b	19.8x	12.1x	2.3x
Wed, 05 Feb 2025	CHF 1.9t	CHF 822.0b	CHF 116.5b	21.7x	16x	2.3x
Fri, 03 Jan 2025	CHF 1.7t	CHF 817.2b	CHF 117.7b	21x	14.8x	2.1x
Sun, 01 Dec 2024	CHF 1.8t	CHF 809.2b	CHF 116.9b	20.4x	15x	2.2x
Tue, 29 Oct 2024	CHF 1.8t	CHF 803.6b	CHF 115.2b	21.2x	15.9x	2.3x
Thu, 26 Sep 2024	CHF 1.8t	CHF 799.2b	CHF 114.8b	21x	15.8x	2.3x
Sat, 24 Aug 2024	CHF 1.8t	CHF 799.3b	CHF 113.8b	22.2x	16.2x	2.3x
Mon, 22 Jul 2024	CHF 1.8t	CHF 798.7b	CHF 125.8b	21.3x	14.5x	2.3x
Wed, 19 Jun 2024	CHF 1.8t	CHF 796.3b	CHF 125.0b	21.7x	14.5x	2.3x
Fri, 17 May 2024	CHF 1.8t	CHF 802.2b	CHF 126.0b	21.7x	14.3x	2.2x
Sun, 14 Apr 2024	CHF 1.7t	CHF 768.7b	CHF 97.1b	21.6x	17.9x	2.3x
Tue, 12 Mar 2024	CHF 1.8t	CHF 775.6b	CHF 99.0b	20.4x	17.7x	2.3x
Thu, 08 Feb 2024	CHF 1.7t	CHF 766.3b	CHF 109.2b	19.2x	15.6x	2.2x
Sat, 06 Jan 2024	CHF 1.7t	CHF 760.5b	CHF 109.3b	18.2x	15.4x	2.2x
Mon, 04 Dec 2023	CHF 1.6t	CHF 766.9b	CHF 110.5b	18.6x	14.9x	2.1x
Wed, 01 Nov 2023	CHF 1.6t	CHF 761.7b	CHF 101.4b	17.9x	15.4x	2.1x
Fri, 29 Sep 2023	CHF 1.6t	CHF 756.5b	CHF 100.4b	18.3x	16.3x	2.2x
Sun, 27 Aug 2023	CHF 1.7t	CHF 746.9b	CHF 74.9b	18.9x	22.1x	2.2x
Tue, 25 Jul 2023	CHF 1.7t	CHF 752.5b	CHF 77.4b	18.3x	22.1x	2.3x
Thu, 22 Jun 2023	CHF 1.7t	CHF 758.1b	CHF 77.0b	18.9x	22.2x	2.3x
Sat, 20 May 2023	CHF 1.8t	CHF 785.9b	CHF 82.6b	19.3x	21.5x	2.3x


CH Market	0.88%
Consumer Discretionary	6.16%
Tech	5.89%
Industrials	3.70%
Materials	2.03%
Telecom	0.95%
Financials	0.36%
Healthcare	0.028%
Real Estate	-1.43%
Utilities	-2.49%
Consumer Staples	-2.81%

Company	Last Price	7D	1Y	Valuation	Sector
CFR Compagnie Financière Richemont	CHF 154.45	5.3% +CHF 4.6b	-1.0%	PE25.9x	Consumer Discretionary
NOVN Novartis	CHF 115.90	2.1% +CHF 4.5b	28.6%	PE20.9x	Healthcare
HOLN Holcim	CHF 75.40	6.1% +CHF 2.4b	-22.4%	PE107.2x	Materials
ROP Roche Holding	CHF 321.50	0.9% +CHF 2.4b	24.1%	PE19.9x	Healthcare
UHR Swatch Group	CHF 207.40	14.1% +CHF 1.3b	38.5%	PE3594.7x	Consumer Discretionary

Announcement • 8h

Roche Receives CE Mark For Elecsys Ptau217 Blood Test For Alzheimer’S Disease Pathology

Roche announced that it has received CE Mark for Elecsys pTau217, a blood test developed in collaboration with Eli Lilly and Company and designed to measure the phosphorylated Tau (pTau) 217 protein, an indicator of amyloid pathology and a hallmark of Alzheimer’s disease. Elecsys pTau217 is the first blood test for Alzheimer’s disease pathology with a single-assay design, intended to rule in and rule out amyloid pathology across primary and secondary care, offering faster diagnosis for millions of patients around the world. While maintaining accuracy comparable to spinal fluid diagnostics against the gold standard PET-CT scans, the Elecsys pTau217 test offers a more convenient, minimally invasive alternative via a routine blood draw. Diagnosing dementia currently takes 3.5 years on average, and an estimated 75% of people living with dementia remain undiagnosed. Elecsys pTau217 offers a simple blood test to aid in earlier, more accessible Alzheimer's disease diagnosis for millions of patients around the world. The same cutoffs (high and low) of the blood test can be used across primary and secondary care settings, to rule in or rule out amyloid pathology in people presenting with symptoms or complaints of cognitive decline. The early detection of the amyloid pathology is critical for Alzheimer’s diagnosis and treatment, as it enables individuals, families, and caregivers to understand the cause of symptoms, access appropriate care, and actively contribute to the planning of next steps. Barriers to early and accurate diagnosis of Alzheimer’s disease exist worldwide. An estimated 75% of people living with dementia remain undiagnosed, and those who are diagnosed typically wait an average of around 3.5 years after cognitive decline symptoms are first noticed. With Alzheimer’s disease representing the most common cause of dementia, improving access to tests that detect Alzheimer’s-related brain changes is critical to speeding up diagnosis. Current methods to confirm amyloid pathology — such as positron emission tomography (PET) scan and cerebrospinal fluid (CSF) assessment — can be difficult to access, expensive, and can be perceived as more invasive than a simple blood test. The pTau217 assay contributes to addressing the undiagnosed population, with reliable detection of AD pathology in individuals with early cognitive decline symptoms. The Elecsys pTau217 CE Mark was granted based on data from retrospective studies of a real-world population at the earliest stages of Alzheimer’s (Subjective Cognitive Decline, Mild Cognitive Impairment and Mild Dementia), a point where individuals may notice memory changes but still live independently. This focus ensures the test performs where it is needed most: at the dawn of the disease, when timely intervention has the greatest potential to preserve independence and slow the progression of decline. A positive Elecsys pTau217 blood test result indicates a high likelihood of amyloid pathology, a hallmark of Alzheimer’s disease. This can guide primary care clinicians to make timely referrals and provide specialists with the actionable data needed to advance patient evaluation and management. A negative result indicates a low likelihood of amyloid pathology, meaning clinicians may be able to rule out Alzheimer’s disease and avoid further invasive CSF or PET investigations, helping to preserve specialist resources by shifting clinical focus to other potential causes of cognitive symptoms. An indeterminate result requires additional testing to establish a diagnosis. Elecsys pTau217 should be used in conjunction with other clinical information. The Elecsys pTau217 assay is clinically robust, supporting flexible workflows and sample handling aligned with routine processes. Data support its potential to refine diagnosis by providing a single, robust biomarker that is broadly available across Roche’s large installed base of instruments with a high-throughput, full-automation assay. Following CE Mark approval, this simple and convenient blood test will leverage Roche’s broad installed base of instruments across countries accepting the CE mark, positioning Elecsys pTau217 for rapid and wide implementation in routine practice. This scale makes it easier for laboratories to bring accurate, minimally invasive Alzheimer’s testing closer to patients and clinicians throughout countries accepting CE mark, with the potential for expansion to the US, subject to FDA approval later this year. In diagnostics, Roche offers one of the broadest portfolios of biomarker assays, including the blood-based Elecsys pTau217, Elecsys pTau181 and Elecsys ApoE4 tests, in addition to CSF assays and digital solutions. These enable more effective and timely detection, diagnosis, and monitoring of the disease across the care pathway. The company also provides a wide range of research-use-only (RUO) assays that advance scientific understanding and support future innovation.

Swiss (SMI) Market Analysis & Valuation

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