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Swiss (SMI) Capital Markets Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies18
  • 7D-6.2%
  • 3M5.0%
  • 1Y1.9%
  • YTD-8.9%

Over the last 7 days, the Capital Markets industry has dropped 6.0%, driven by UBS Group declining 8.4%. In the past year, the industry has gained 3.1%. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026CHF 168.4bCHF 49.6bCHF 9.2b17.7x18.3x3.4x
Fri, 09 Jan 2026CHF 186.0bCHF 50.4bCHF 9.2b17.5x20.3x3.7x
Sun, 07 Dec 2025CHF 165.1bCHF 50.6bCHF 9.2b17.4x17.9x3.3x
Tue, 04 Nov 2025CHF 159.0bCHF 50.8bCHF 9.2b16.4x17.2x3.1x
Thu, 02 Oct 2025CHF 166.2bCHF 49.4bCHF 8.3b17.1x20x3.4x
Sat, 30 Aug 2025CHF 169.2bCHF 49.3bCHF 8.3b17.3x20.5x3.4x
Mon, 28 Jul 2025CHF 159.7bCHF 49.6bCHF 7.2b23.3x22.2x3.2x
Wed, 25 Jun 2025CHF 139.2bCHF 50.2bCHF 7.4b14.4x18.9x2.8x
Fri, 23 May 2025CHF 146.6bCHF 51.3bCHF 7.5b16.2x19.6x2.9x
Sun, 20 Apr 2025CHF 132.3bCHF 51.0bCHF 7.5b14.1x17.7x2.6x
Tue, 18 Mar 2025CHF 162.3bCHF 53.9bCHF 7.8b17.7x20.9x3x
Thu, 13 Feb 2025CHF 167.3bCHF 55.2bCHF 7.8b16.4x21.6x3x
Sat, 11 Jan 2025CHF 162.9bCHF 53.8bCHF 6.6b20.4x24.8x3x
Mon, 09 Dec 2024CHF 158.8bCHF 52.0bCHF 6.4b20.8x24.9x3.1x
Wed, 06 Nov 2024CHF 148.8bCHF 51.3bCHF 6.3b17.5x23.6x2.9x
Fri, 04 Oct 2024CHF 146.9bCHF 50.4bCHF 4.5b19.3x33x2.9x
Sun, 01 Sep 2024CHF 144.4bCHF 50.3bCHF 4.5b16.6x32.2x2.9x
Tue, 30 Jul 2024CHF 144.5bCHF 49.3bCHF 27.7b16.4x5.2x2.9x
Thu, 27 Jun 2024CHF 143.0bCHF 49.9bCHF 28.1b15.3x5.1x2.9x
Sat, 25 May 2024CHF 152.2bCHF 50.6bCHF 28.6b16.3x5.3x3x
Mon, 22 Apr 2024CHF 140.2bCHF 46.9bCHF 27.8b16x5x3x
Wed, 20 Mar 2024CHF 149.3bCHF 46.3bCHF 28.3b17.5x5.3x3.2x
Fri, 16 Feb 2024CHF 137.5bCHF 45.8bCHF 28.0b15.8x4.9x3x
Sun, 14 Jan 2024CHF 140.7bCHF 71.2bCHF 34.7b14.5x4.1x2x
Tue, 12 Dec 2023CHF 139.6bCHF 72.2bCHF 35.5b13.8x3.9x1.9x
Thu, 09 Nov 2023CHF 127.1bCHF 72.9bCHF 36.1b12.5x3.5x1.7x
Sat, 07 Oct 2023CHF 128.6bCHF 70.3bCHF 38.6b13.7x3.3x1.8x
Mon, 04 Sep 2023CHF 130.9bCHF 69.3bCHF 37.8b13.6x3.5x1.9x
Wed, 02 Aug 2023CHF 114.3bCHF 69.0bCHF 13.7b14.4x8.4x1.7x
Fri, 30 Jun 2023CHF 104.3bCHF 69.5bCHF 13.8b13.5x7.6x1.5x
Sun, 28 May 2023CHF 104.3bCHF 69.7bCHF 13.9b14.6x7.5x1.5x
Tue, 25 Apr 2023CHF 110.4bCHF 55.9bCHF 2.0b15.4x54.7x2x
Thu, 23 Mar 2023CHF 109.8bCHF 57.1bCHF 2.3b14.9x47.6x1.9x
Sat, 18 Feb 2023CHF 125.4bCHF 58.1bCHF 2.6b14.5x47.7x2.2x
Price to Earnings Ratio

47.7x


Total Market Cap: CHF 125.4bTotal Earnings: CHF 2.6bTotal Revenue: CHF 58.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 16.7x202420252026
Current Industry PE
  • Investors are optimistic on the Swiss Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.5x which is higher than its 3-year average PE of 16.7x.
  • The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 52% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.1% 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 Market1.52%
Financials-2.46%
Capital Markets-6.19%
Investment Banking and Brokerage0.059%
Asset Management0.023%
Diversified Capital Markets-9.70%
Industry PE
  • Investors are most optimistic about the Asset Management industry, which is trading close to its 3-year average PE ratio of 21.9x.
    • Analysts are expecting annual earnings growth of 10.6%, which is lower than the prior year's growth of 12.2% per year.
  • Investors are most pessimistic about the Diversified Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
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 53% per year.
  • In contrast, the Asset Management industry is expected to see its earnings grow by 11% 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
PGHN Partners Group HoldingCHF 986.000.9%
+CHF 217.9m		-30.0%PE21.3x
VZN VZ HoldingCHF 151.802.0%
+CHF 118.3m		-4.6%PE26.3x
VONN Vontobel HoldingCHF 69.503.3%
+CHF 84.1m		3.6%PE13.8x
LEON LeonteqCHF 14.887.4%
+CHF 18.0m		-11.4%PS1.2x
CFT Compagnie Financière TraditionCHF 296.000.7%
+CHF 15.3m		48.4%PE18.1x

Latest News

BBN
CHF 11.50
Bellevue Group
7D
1.3%
1Y
-18.7%
LEON
CHF 14.88
Leonteq
7D
7.4%
1Y
-11.4%
EFGN
CHF 19.42
EFG International
7D
-2.4%
1Y
37.3%

EFGN: Future Returns Will Rely On Execution As Mixed Views Keep Shares Balanced

Analysts have raised their fair value estimate for EFG International from CHF 17.45 to about CHF 18.75, citing updated assumptions on revenue growth, profit margins and future P/E that reflect recent Street research, including changes in price targets and ratings. Analyst Commentary Recent Street research on EFG International has sent mixed signals, with some analysts lifting price targets while others are turning more cautious.
SQN
CHF 435.00
Swissquote Group Holding
7D
-0.1%
1Y
4.5%

SQN: Future Market Fragmentation Risk Will Likely Cap Further Share Upside

Narrative Update The analyst price target for Swissquote Group Holding has been raised from CHF 258.00 to about CHF 294.97 as analysts point to updated assumptions on revenue growth, profitability and longer term P/E, supported by recent research that highlights an underpenetrated European retail investment market and improved ratings on the shares. Analyst Commentary Recent research on Swissquote Group Holding reflects a mix of optimism about the broader European retail investment market and some caution around how much of that opportunity is already reflected in the share price.
VONN
CHF 69.50
Vontobel Holding
7D
3.3%
1Y
3.6%
UBSG
CHF 33.50
UBS Group
7D
-9.7%
1Y
10.6%
BAER
CHF 65.78
Julius Bär Gruppe
7D
-2.2%
1Y
14.1%

BAER: Future Returns Will Depend On Steady Execution And Abu Dhabi Expansion

Analysts have inched their average price target for Julius Bär Gruppe higher by roughly CHF 2 as they factor in updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, following a series of recent target tweaks from major banks. Analyst Commentary Recent target moves for Julius Bär Gruppe show a cluster of upward revisions, with only one modest reduction in the period.
PGHN
CHF 986.00
Partners Group Holding
7D
0.9%
1Y
-30.0%

PGHN: Hospitality And Private Markets Expansion Will Support Future Upside Potential

Analysts have lifted their price target on Partners Group Holding by CHF 80, reflecting updated assumptions for slightly higher revenue growth, a modestly lower discount rate, and a somewhat reduced future P/E multiple, while keeping fair value broadly unchanged at CHF 1,400. Analyst Commentary Recent research points to a constructive tone around Partners Group Holding, with price target adjustments framed around refined assumptions on revenue, discount rates, and future valuation multiples, rather than a shift in the CHF 1,400 fair value anchor.
VPBN
CHF 86.80
VP Bank
7D
2.1%
1Y
8.5%
CFT
CHF 296.00
Compagnie Financière Tradition
7D
0.7%
1Y
48.4%
VLRT
CHF 11.50
Valartis Group
7D
-3.4%
1Y
-7.3%
HAUTE
CHF 125.90
Haute Capital Partners
7D
-2.5%
1Y
-4.3%
GAM
CHF 0.13
GAM Holding
7D
-5.3%
1Y
27.9%
VZN
CHF 151.80
VZ Holding
7D
2.0%
1Y
-4.6%

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
NBEN
CHF 6.00
nebag ag
7D
0.8%
1Y
-7.7%