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Swiss (SMI) Capital Markets Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies17
  • 7D-2.3%
  • 3M-17.6%
  • 1Y-9.7%
  • YTD-20.4%

Over the last 7 days, the Capital Markets industry has dropped 2.3%, driven by UBS Group declining 2.2%. However, the industry is down 9.7% over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026CHF 146.9bCHF 51.6bCHF 9.5b15.3x15.5x2.8x
Fri, 20 Feb 2026CHF 163.0bCHF 50.1bCHF 9.2b17.6x17.7x3.3x
Sun, 18 Jan 2026CHF 189.7bCHF 50.6bCHF 9.2b18.5x20.6x3.7x
Tue, 16 Dec 2025CHF 171.1bCHF 50.3bCHF 9.1b17.4x18.7x3.4x
Thu, 13 Nov 2025CHF 162.9bCHF 50.3bCHF 9.2b17.1x17.8x3.2x
Sat, 11 Oct 2025CHF 165.5bCHF 49.5bCHF 8.3b18x19.9x3.3x
Mon, 08 Sep 2025CHF 167.4bCHF 49.4bCHF 8.3b16.4x20.1x3.4x
Wed, 06 Aug 2025CHF 161.1bCHF 49.6bCHF 8.3b18.9x19.5x3.3x
Fri, 04 Jul 2025CHF 147.4bCHF 49.7bCHF 7.3b14.7x20.2x3x
Sun, 01 Jun 2025CHF 145.2bCHF 51.0bCHF 7.4b14.9x19.5x2.8x
Tue, 29 Apr 2025CHF 137.9bCHF 51.1bCHF 7.5b14.4x18.4x2.7x
Thu, 27 Mar 2025CHF 164.5bCHF 54.2bCHF 7.8b13.9x21x3x
Sat, 22 Feb 2025CHF 168.3bCHF 54.6bCHF 7.7b16.4x21.9x3.1x
Mon, 20 Jan 2025CHF 168.3bCHF 53.7bCHF 6.5b21.2x25.7x3.1x
Wed, 18 Dec 2024CHF 155.3bCHF 52.7bCHF 6.4b19.8x24.1x2.9x
Fri, 15 Nov 2024CHF 153.6bCHF 52.6bCHF 6.4b19.5x23.8x2.9x
Sun, 13 Oct 2024CHF 150.8bCHF 50.3bCHF 4.5b17.6x33.9x3x
Tue, 10 Sep 2024CHF 135.7bCHF 50.2bCHF 4.4b16x30.6x2.7x
Thu, 08 Aug 2024CHF 136.3bCHF 48.3bCHF 27.0b15.1x5x2.8x
Sat, 06 Jul 2024CHF 148.7bCHF 49.8bCHF 28.0b15.5x5.3x3x
Mon, 03 Jun 2024CHF 152.0bCHF 50.1bCHF 28.2b15.7x5.4x3x
Wed, 01 May 2024CHF 136.0bCHF 47.2bCHF 28.0b15.8x4.9x2.9x
Fri, 29 Mar 2024CHF 150.8bCHF 46.7bCHF 28.6b17.3x5.3x3.2x
Sun, 25 Feb 2024CHF 139.3bCHF 45.9bCHF 28.1b15.2x5x3x
Tue, 23 Jan 2024CHF 140.6bCHF 71.8bCHF 35.2b14x4x2x
Thu, 21 Dec 2023CHF 145.9bCHF 71.5bCHF 35.0b14.2x4.2x2x
Sat, 18 Nov 2023CHF 133.7bCHF 72.5bCHF 35.8b13.5x3.7x1.8x
Mon, 16 Oct 2023CHF 127.7bCHF 70.0bCHF 38.4b12.9x3.3x1.8x
Wed, 13 Sep 2023CHF 131.1bCHF 69.7bCHF 38.0b13.7x3.4x1.9x
Fri, 11 Aug 2023CHF 114.4bCHF 68.9bCHF 13.9b14.4x8.2x1.7x
Sun, 09 Jul 2023CHF 102.6bCHF 69.1bCHF 13.7b12.9x7.5x1.5x
Tue, 06 Jun 2023CHF 105.3bCHF 69.7bCHF 13.9b14.5x7.6x1.5x
Thu, 04 May 2023CHF 104.4bCHF 69.1bCHF 13.7b14.3x7.6x1.5x
Sat, 01 Apr 2023CHF 112.8bCHF 56.8bCHF 2.2b14.9x50.3x2x
Price to Earnings Ratio

50.3x


Total Market Cap: CHF 112.8bTotal Earnings: CHF 2.2bTotal Revenue: CHF 56.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 15.6x202420252026
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 15.6x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 62% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.2% 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 Market-3.14%
Financials-2.07%
Capital Markets-2.32%
Asset Management-2.12%
Diversified Capital Markets-2.17%
Investment Banking and Brokerage-5.18%
Industry PE
  • Investors are most optimistic about the Asset Management industry even though it's trading below its 3-year average PE ratio of 21.9x.
    • Analysts are expecting annual earnings growth of 11.8%, which is higher than its past year's earnings growth of 6.6% 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 of 9.2x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 16% over the next 5 years.
  • However this is lower than its past earnings growth rate of 53% per year.
  • In contrast, the Investment Banking and Brokerage 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
VZN VZ HoldingCHF 150.600.3%
+CHF 15.8m		-12.0%PE25.2x
GAM GAM HoldingCHF 0.134.2%
+CHF 5.4m		16.8%PS2.2x

Latest News

VZN
CHF 153.20
VZ Holding
7D
1.7%
1Y
-10.1%
PGHN
CHF 830.40
Partners Group Holding
7D
0.3%
1Y
-37.4%
SQN
CHF 393.20
Swissquote Group Holding
7D
-3.4%
1Y
0.5%
BAER
CHF 58.60
Julius Bär Gruppe
7D
-0.6%
1Y
-8.5%

BAER: Future Returns Will Hinge On Sustained Execution Supporting Modest Multiple Repricing

Analysts have inched their price targets on Julius Bär Gruppe higher by low single digit CHF amounts, citing refreshed models that reflect slightly adjusted fair value estimates, revenue growth assumptions and profit margin expectations. Analyst Commentary Recent research updates on Julius Bär Gruppe have centered on fine tuning valuation models, with several firms adjusting price targets by CHF 1 to CHF 3 increments over the past few weeks.
CFT
CHF 265.00
Compagnie Financière Tradition
7D
-4.3%
1Y
29.9%
BBN
CHF 8.26
Bellevue Group
7D
-7.6%
1Y
-14.5%
EFGN
CHF 17.80
EFG International
7D
-0.9%
1Y
28.6%
UBSG
CHF 30.18
UBS Group
7D
0.9%
1Y
2.2%

UBSG: Medium Term Earnings Will Benefit From Capital Returns And Fee Partnerships

Analysts have adjusted their average price target on UBS Group to about CHF 38.40 from roughly CHF 33.90, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations following recent mixed research actions from major banks. Analyst Commentary Recent research on UBS Group has been mixed, with some firms trimming targets or ratings and others lifting their fair value estimates.
VLRT
CHF 11.20
Valartis Group
7D
-8.9%
1Y
-10.4%
VONN
CHF 67.50
Vontobel Holding
7D
-0.6%
1Y
3.7%

VONN: Neutral View Will Rely On Discount Rate Resilience And Execution

Analysts have trimmed their price target on Vontobel Holding by CHF 1 to reflect slightly higher discount rate assumptions, while keeping fair value and key profitability and growth inputs broadly unchanged. Analyst Commentary Bullish analysts focus on the relatively small CHF 1 adjustment to the price target and see it as a technical recalibration tied to discount rate assumptions rather than a shift in the underlying view of Vontobel Holding's earnings power.
VPBN
CHF 84.00
VP Bank
7D
0.7%
1Y
2.2%
HAUTE
CHF 97.00
Haute Capital Partners
7D
-2.2%
1Y
-28.5%
NBEN
CHF 5.85
nebag ag
7D
0.9%
1Y
-10.0%