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Swiss (SMI) Financials Sector Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies42
  • 7D-1.0%
  • 3M1.8%
  • 1Y1.3%
  • YTD-6.4%

In the last week, the Financials industry is flat overall, with UBS Group standing out by going down 4.2%. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 8.6% annually.

Sector Valuation and Performance

Has the Swiss Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Feb 2026CHF 372.4bCHF 202.3bCHF 53.9b17.1x6.9x1.8x
Sat, 24 Jan 2026CHF 386.5bCHF 201.2bCHF 53.2b16.8x7.3x1.9x
Mon, 22 Dec 2025CHF 391.0bCHF 202.4bCHF 53.3b15.8x7.3x1.9x
Wed, 19 Nov 2025CHF 367.7bCHF 209.2bCHF 53.9b15.4x6.8x1.8x
Fri, 17 Oct 2025CHF 375.6bCHF 185.3bCHF 29.7b15.4x12.6x2x
Sun, 14 Sep 2025CHF 382.1bCHF 185.8bCHF 29.8b15.3x12.8x2.1x
Tue, 12 Aug 2025CHF 389.2bCHF 188.3bCHF 29.5b16.2x13.2x2.1x
Thu, 10 Jul 2025CHF 360.9bCHF 205.3bCHF 48.3b15.1x7.5x1.8x
Sat, 07 Jun 2025CHF 363.3bCHF 209.7bCHF 48.7b14.9x7.5x1.7x
Mon, 05 May 2025CHF 356.1bCHF 263.0bCHF 100.7b14.5x3.5x1.4x
Wed, 02 Apr 2025CHF 372.9bCHF 272.5bCHF 101.6b14.1x3.7x1.4x
Fri, 28 Feb 2025CHF 375.2bCHF 234.1bCHF 60.0b16.1x6.2x1.6x
Sun, 26 Jan 2025CHF 370.4bCHF 241.3bCHF 58.1b16.1x6.4x1.5x
Tue, 24 Dec 2024CHF 341.9bCHF 240.1bCHF 58.0b14.8x5.9x1.4x
Thu, 21 Nov 2024CHF 342.1bCHF 237.6bCHF 57.8b14.5x5.9x1.4x
Sat, 19 Oct 2024CHF 343.8bCHF 238.3bCHF 56.3b14.5x6.1x1.4x
Mon, 16 Sep 2024CHF 322.1bCHF 235.6bCHF 56.1b14.3x5.7x1.4x
Wed, 14 Aug 2024CHF 311.1bCHF 233.0bCHF 79.0b13.9x3.9x1.3x
Fri, 12 Jul 2024CHF 327.9bCHF 225.2bCHF 68.5b14.3x4.8x1.5x
Sun, 09 Jun 2024CHF 327.0bCHF 225.3bCHF 68.5b13.8x4.8x1.5x
Tue, 07 May 2024CHF 307.9bCHF 224.1bCHF 67.8b13.8x4.5x1.4x
Thu, 04 Apr 2024CHF 326.4bCHF 193.6bCHF 39.3b13.9x8.3x1.7x
Sat, 02 Mar 2024CHF 315.3bCHF 213.1bCHF 51.8b13.7x6.1x1.5x
Mon, 29 Jan 2024CHF 310.1bCHF 213.1bCHF 58.9b13.1x5.3x1.5x
Wed, 27 Dec 2023CHF 309.4bCHF 212.1bCHF 58.6b13x5.3x1.5x
Fri, 24 Nov 2023CHF 296.0bCHF 215.7bCHF 59.6b13.3x5x1.4x
Sun, 22 Oct 2023CHF 279.6bCHF 200.9bCHF 49.2b13.5x5.7x1.4x
Tue, 19 Sep 2023CHF 293.6bCHF 201.0bCHF 49.3b14.1x6x1.5x
Thu, 17 Aug 2023CHF 270.7bCHF 197.6bCHF 24.9b14.1x10.9x1.4x
Sat, 15 Jul 2023CHF 264.2bCHF 191.2bCHF 23.8b13.9x11.1x1.4x
Mon, 12 Jun 2023CHF 263.8bCHF 196.4bCHF 24.4b15x10.8x1.3x
Wed, 10 May 2023CHF 265.3bCHF 194.9bCHF 24.3b14.6x10.9x1.4x
Fri, 07 Apr 2023CHF 276.8bCHF 181.7bCHF 11.9b15.2x23.2x1.5x
Sun, 05 Mar 2023CHF 292.2bCHF 189.3bCHF 12.3b15.1x23.8x1.5x
Price to Earnings Ratio

23.8x


Total Market Cap: CHF 292.2bTotal Earnings: CHF 12.3bTotal Revenue: CHF 189.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Financials Sector Price to Earnings3Y Average 8x202420252026
Current Industry PE
  • Investors are pessimistic on the Swiss Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 6.9x which is lower than its 3-year average PE of 8.0x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 64% per year over the last three years.
  • Revenues for these companies have grown 2.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Swiss Financials sector?

CH Market0.75%
Financials-0.97%
Banks1.96%
Insurance1.86%
Diversified Financial0.58%
Mortgage Finance0%0
Consumer Finance-0.91%
Capital Markets-4.51%
Industry PE
  • Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 15.3x.
    • Analysts are expecting annual earnings growth of 2.5%, which is higher than its past year's earnings growth of 1.1% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 0.018x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 14% over the next 5 years.
  • However this is lower than its past earnings growth rate of 18% per year.
  • In contrast, the Banks industry is expected to see its earnings grow by 2.5% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
ZURN Zurich Insurance GroupCHF 576.001.4%
+CHF 1.1b		-2.6%PE15.6x
SREN Swiss ReCHF 131.102.4%
+CHF 914.2m		-9.2%PE10.2x
SLHN Swiss Life HoldingCHF 877.602.4%
+CHF 589.3m		11.8%PE21.1x
BCVN Banque Cantonale VaudoiseCHF 116.104.3%
+CHF 412.4m		20.9%PB2.5x
HBAN Helvetia Baloise HoldingCHF 198.802.3%
+CHF 238.0m		18.4%PE19.5x

Latest News

BAER
CHF 65.00
Julius Bär Gruppe
7D
-1.5%
1Y
8.6%
PGHN
CHF 852.00
Partners Group Holding
7D
-11.2%
1Y
-36.5%
HBAN
CHF 198.80
Helvetia Baloise Holding
7D
2.3%
1Y
18.4%

HBAN: Index Inclusions Will Support Future Upside Potential

Analysts have maintained their CHF 250.00 price target for Helvetia Baloise Holding, citing broadly similar fair value, discount rate, revenue growth, profit margin and future P/E assumptions as before. What's in the News Helvetia Baloise Holding Ltd (SWX:HELN) was added to the S&P Global 1200 index, expanding its representation in global equity benchmarks (Key Developments).
LLBN
CHF 93.70
Liechtensteinische Landesbank
7D
-5.7%
1Y
18.2%
TKBP
CHF 182.50
Thurgauer Kantonalbank
7D
-1.4%
1Y
36.7%
SQN
CHF 410.00
Swissquote Group Holding
7D
-1.3%
1Y
7.0%

SQN: Fragmented Retail Market And Rating Upgrade Will Shape Next Phase

Analysts have lifted their price target on Swissquote Group Holding to CHF 555 from CHF 479, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, which slightly refine their outlook on the shares. Analyst Commentary Recent research points to a more constructive tone around Swissquote Group Holding, with price targets and ratings reflecting growing confidence in the company’s ability to execute on its business model.
ZURN
CHF 576.00
Zurich Insurance Group
7D
1.4%
1Y
-2.6%

ZURN: Future Returns Will Rely On Dividend Visibility And Slightly Firmer P/E Assumptions

Analysts have adjusted their price target for Zurich Insurance Group to CHF 574.78 from CHF 563.37, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What's in the News Zurich Insurance Group AG declared an annual dividend of CHF 30.0000 per share, scheduled to be paid on April 14, 2026, setting out a clear cash return timetable for shareholders (Key Developments).
SREN
CHF 131.10
Swiss Re
7D
2.4%
1Y
-9.2%
SLHN
CHF 877.60
Swiss Life Holding
7D
2.4%
1Y
11.8%

SLHN: Future Returns Will Likely Reflect CHF 841 Fair Value And Measured Confidence

Analysts have lifted their price target on Swiss Life Holding by CHF 10 to reflect a slightly higher fair value estimate of about CHF 841, supported by recent research pointing to a modestly higher forward P/E and a small adjustment in the discount rate. Analyst Commentary Bullish Takeaways Bullish analysts link the CHF 10 price target lift to slightly stronger confidence in Swiss Life Holding’s ability to support a higher forward P/E.
UBSG
CHF 32.00
UBS Group
7D
-4.2%
1Y
4.2%

UBSG: Higher P/E Expectations Will Drive Future Repricing Versus Political Breakup Risk

Analysts have revised their CHF based price target for UBS Group upward to reflect a higher estimated fair value of about CHF 50.79, with recent Street research pointing to adjusted views on revenue growth, profit margins and future P/E assumptions following mixed target moves at Citi, JPMorgan and Morgan Stanley, as well as a fresh downgrade at Goldman Sachs. Analyst Commentary Recent Street research on UBS Group reflects a mix of optimism and caution, with several price target revisions and one high profile downgrade shaping how investors are thinking about the shares.
BCVN
CHF 116.10
Banque Cantonale Vaudoise
7D
4.3%
1Y
20.9%
BEKN
CHF 368.00
Berner Kantonalbank
7D
5.7%
1Y
49.0%
LUKN
CHF 104.80
Luzerner Kantonalbank
7D
2.7%
1Y
49.9%
CFT
CHF 267.00
Compagnie Financière Tradition
7D
-2.2%
1Y
39.4%
BCGE
CHF 31.70
Banque Cantonale de Genève
7D
4.6%
1Y
17.0%
VZN
CHF 144.20
VZ Holding
7D
-1.8%
1Y
-6.5%

What VZ Holding AG's (VTX:VZN) P/E Is Not Telling You

Nov 14
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