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Swiss (SMI) Capital Markets Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies18
  • 7D3.5%
  • 3M7.1%
  • 1Y21.0%
  • YTD16.3%

The Capital Markets industry is up 3.5% in the last week, with UBS Group up 4.1%. In the last 12 months, the industry was up 21%. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the Swiss Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CHF 181.3bCHF 50.0bCHF 9.1b17.4x19.9x3.6x
Fri, 21 Nov 2025CHF 157.1bCHF 50.7bCHF 9.2b16.3x17.1x3.1x
Sun, 19 Oct 2025CHF 156.5bCHF 49.1bCHF 8.3b17.4x18.9x3.2x
Tue, 16 Sep 2025CHF 171.7bCHF 49.2bCHF 8.3b16.9x20.7x3.5x
Thu, 14 Aug 2025CHF 167.9bCHF 49.5bCHF 8.3b20x20.4x3.4x
Sat, 12 Jul 2025CHF 153.0bCHF 49.8bCHF 7.3b15.2x20.9x3.1x
Mon, 09 Jun 2025CHF 149.6bCHF 51.0bCHF 7.4b14.9x20.1x2.9x
Wed, 07 May 2025CHF 141.5bCHF 51.0bCHF 7.4b14.9x19x2.8x
Fri, 04 Apr 2025CHF 141.6bCHF 53.0bCHF 7.7b13.2x18.4x2.7x
Sun, 02 Mar 2025CHF 167.3bCHF 54.8bCHF 7.7b19.8x21.7x3.1x
Tue, 28 Jan 2025CHF 173.4bCHF 53.0bCHF 6.5b21.4x26.8x3.3x
Thu, 26 Dec 2024CHF 150.6bCHF 53.0bCHF 6.5b19.8x23.2x2.8x
Sat, 23 Nov 2024CHF 154.6bCHF 52.7bCHF 6.5b19.6x23.9x2.9x
Mon, 21 Oct 2024CHF 155.8bCHF 50.7bCHF 4.5b17.7x34.8x3.1x
Wed, 18 Sep 2024CHF 141.5bCHF 50.1bCHF 4.4b16.2x31.9x2.8x
Fri, 16 Aug 2024CHF 144.1bCHF 51.3bCHF 4.5b17.4x31.9x2.8x
Sun, 14 Jul 2024CHF 151.9bCHF 49.7bCHF 28.0b16x5.4x3.1x
Tue, 11 Jun 2024CHF 150.7bCHF 49.8bCHF 28.1b15x5.4x3x
Thu, 09 May 2024CHF 145.3bCHF 50.3bCHF 28.4b16.3x5.1x2.9x
Sat, 06 Apr 2024CHF 151.4bCHF 46.5bCHF 27.6b16.8x5.5x3.3x
Mon, 04 Mar 2024CHF 142.3bCHF 46.0bCHF 28.1b16.4x5.1x3.1x
Wed, 31 Jan 2024CHF 144.3bCHF 71.5bCHF 35.0b14.6x4.1x2x
Fri, 29 Dec 2023CHF 144.3bCHF 70.7bCHF 34.3b14.3x4.2x2x
Sun, 26 Nov 2023CHF 133.0bCHF 72.3bCHF 35.6b13.3x3.7x1.8x
Tue, 24 Oct 2023CHF 122.3bCHF 69.7bCHF 38.1b13x3.2x1.8x
Thu, 21 Sep 2023CHF 134.7bCHF 69.8bCHF 38.2b14x3.5x1.9x
Sat, 19 Aug 2023CHF 115.7bCHF 69.3bCHF 14.0b13.8x8.3x1.7x
Mon, 17 Jul 2023CHF 108.4bCHF 68.2bCHF 13.5b13.7x8x1.6x
Wed, 14 Jun 2023CHF 107.7bCHF 69.7bCHF 13.9b14.1x7.8x1.5x
Fri, 12 May 2023CHF 103.6bCHF 69.4bCHF 13.8b14.2x7.5x1.5x
Sun, 09 Apr 2023CHF 110.5bCHF 56.5bCHF 2.2b15.1x51.1x2x
Tue, 07 Mar 2023CHF 126.5bCHF 58.3bCHF 2.7b15.1x47.7x2.2x
Thu, 02 Feb 2023CHF 123.1bCHF 58.9bCHF 1.9b14.3x63.5x2.1x
Sat, 31 Dec 2022CHF 113.4bCHF 59.9bCHF 1.7b12.8x65.5x1.9x
Price to Earnings Ratio

65.5x


Total Market Cap: CHF 113.4bTotal Earnings: CHF 1.7bTotal Revenue: CHF 59.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 18.8x202320242025
Current Industry PE
  • Investors are relatively neutral on the Swiss Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 18.8x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 74% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.9% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

CH Market1.46%
Financials2.78%
Capital Markets3.53%
Diversified Capital Markets4.14%
Investment Banking and Brokerage2.50%
Asset Management2.41%
Industry PE
  • Investors are most optimistic about the Investment Banking and Brokerage industry which is trading above its 3-year average PE ratio of 17.2x.
    • Analysts are expecting annual earnings growth of 8.6%, which is lower than the prior year's growth of 21.7% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 82% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 8.6% 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
UBSG UBS GroupCHF 36.944.1%
+CHF 4.7b		36.5%PE20.2x
BAER Julius Bär GruppeCHF 62.764.2%
+CHF 520.3m		8.7%PE14.9x
PGHN Partners Group HoldingCHF 976.401.8%
+CHF 446.1m		-19.8%PE21.1x
SQN Swissquote Group HoldingCHF 490.402.6%
+CHF 188.2m		43.9%PE23.8x
EFGN EFG InternationalCHF 19.022.5%
+CHF 138.7m		48.8%PE15.9x

Latest News

SQN
CHF 490.40
Swissquote Group Holding
7D
2.6%
1Y
43.9%

There's Reason For Concern Over Swissquote Group Holding SA's (VTX:SQN) Price

Dec 22
There's Reason For Concern Over Swissquote Group Holding SA's (VTX:SQN) Price
UBSG
CHF 36.94
UBS Group
7D
4.1%
1Y
36.5%

UBSG: Rising Profit Margins Will Strain Sustainability At Current Share Price

The analyst price target for UBS Group has been raised by roughly CHF 5 to CHF 28. Analysts are factoring in stronger profit margins and a modestly higher future earnings multiple, despite slightly softer revenue growth assumptions.
CFT
CHF 286.00
Compagnie Financière Tradition
7D
2.1%
1Y
66.3%

Getting In Cheap On Compagnie Financière Tradition SA (VTX:CFT) Is Unlikely

Dec 20
Getting In Cheap On Compagnie Financière Tradition SA (VTX:CFT) Is Unlikely
EFGN
CHF 19.02
EFG International
7D
2.5%
1Y
48.8%

EFGN: Future Outlook Will Balance Revenue Prospects And Execution Risks

Analysts have nudged their price target for EFG International higher to approximately CHF 17.45 from CHF 17.10. This reflects improved expectations for revenue growth and a slightly lower discount rate, despite largely stable profit margin and valuation assumptions.
VONN
CHF 64.40
Vontobel Holding
7D
3.4%
1Y
1.7%

VONN: Higher Price Expectations Will Shape A Cautious Yet Balanced Near-Term Outlook

Analysts have raised their price target on Vontobel Holding to CHF 64.50 from CHF 63.30, reflecting expectations for stronger revenue growth and slightly improved profitability, along with a modestly lower future valuation multiple. Analyst Commentary Analysts remain balanced in their outlook on Vontobel Holding, with the higher price target reflecting incremental confidence in the firm’s earnings trajectory, but not enough conviction to warrant a more positive rating shift.
PGHN
CHF 976.40
Partners Group Holding
7D
1.8%
1Y
-19.8%

PGHN: Future Profit Margins And Private Markets Expansion Will Drive Upside

Analysts have modestly lowered their price target on Partners Group Holding, trimming fair value from CHF 1,443.58 to CHF 1,400.00. Slightly softer anticipated revenue growth and a lower future P E multiple more than offset expectations for improved profit margins and a marginally reduced discount rate.
BAER
CHF 62.76
Julius Bär Gruppe
7D
4.2%
1Y
8.7%

BAER: Execution And Margin Discipline Will Shape Moderately Positive Future Outlook

Analysts have trimmed their price target on Julius Bär Gruppe slightly to CHF 67.50 from CHF 69.00, reflecting modestly stronger revenue growth expectations, offset by a marginally lower profit margin outlook and a nearly unchanged valuation multiple. Analyst Commentary Recent revisions to price targets suggest that sentiment on Julius Bär Gruppe remains broadly constructive, but with a more measured outlook on execution risks and margin durability.
VLRT
CHF 11.70
Valartis Group
7D
-4.1%
1Y
-6.4%
VZN
CHF 149.60
VZ Holding
7D
0.5%
1Y
4.8%

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

Nov 14
What VZ Holding AG's (VTX:VZN) P/E Is Not Telling You
ALPN
CHF 8.90
Alpine Select
7D
-0.6%
1Y
20.3%