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Swiss (SMI) Capital Markets Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies18
  • 7D-5.5%
  • 3M9.6%
  • 1Y2.5%
  • YTD-8.7%

Over the last 7 days, the Capital Markets industry has dropped 5.5%, driven by UBS Group declining 7.0%. Over the last year, the industry has been flat overall. 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
Sun, 08 Feb 2026CHF 168.7bCHF 50.0bCHF 9.3b17.6x18.2x3.4x
Tue, 06 Jan 2026CHF 187.7bCHF 50.1bCHF 9.1b17.4x20.6x3.7x
Thu, 04 Dec 2025CHF 158.5bCHF 50.5bCHF 9.2b16.6x17.3x3.1x
Sat, 01 Nov 2025CHF 159.8bCHF 50.7bCHF 9.2b16.5x17.4x3.2x
Mon, 29 Sep 2025CHF 166.3bCHF 49.4bCHF 8.3b16.6x20x3.4x
Wed, 27 Aug 2025CHF 169.4bCHF 49.4bCHF 8.3b17.3x20.5x3.4x
Fri, 25 Jul 2025CHF 160.4bCHF 49.7bCHF 7.2b15.8x22.3x3.2x
Sun, 22 Jun 2025CHF 136.1bCHF 50.8bCHF 7.4b14.2x18.3x2.7x
Tue, 20 May 2025CHF 153.0bCHF 51.6bCHF 7.5b15.5x20.4x3x
Thu, 17 Apr 2025CHF 132.1bCHF 50.8bCHF 7.4b14x17.7x2.6x
Sat, 15 Mar 2025CHF 160.4bCHF 54.2bCHF 7.8b20.3x20.6x3x
Mon, 10 Feb 2025CHF 167.6bCHF 54.9bCHF 7.7b16.8x21.8x3.1x
Wed, 08 Jan 2025CHF 160.9bCHF 53.4bCHF 6.5b20.9x24.7x3x
Fri, 06 Dec 2024CHF 159.0bCHF 52.0bCHF 6.4b20.8x24.9x3.1x
Sun, 03 Nov 2024CHF 148.0bCHF 51.6bCHF 6.3b17.4x23.3x2.9x
Tue, 01 Oct 2024CHF 146.5bCHF 50.1bCHF 4.4b17.7x33.1x2.9x
Thu, 29 Aug 2024CHF 145.0bCHF 49.9bCHF 4.5b16.6x32.6x2.9x
Sat, 27 Jul 2024CHF 145.5bCHF 49.3bCHF 27.7b15.8x5.3x3x
Mon, 24 Jun 2024CHF 145.8bCHF 49.7bCHF 28.0b15.2x5.2x2.9x
Wed, 22 May 2024CHF 150.8bCHF 50.5bCHF 28.5b16.5x5.3x3x
Fri, 19 Apr 2024CHF 140.9bCHF 46.9bCHF 27.9b16.4x5.1x3x
Sun, 17 Mar 2024CHF 151.7bCHF 46.1bCHF 28.2b16.7x5.4x3.3x
Tue, 13 Feb 2024CHF 136.9bCHF 45.6bCHF 27.8b15.5x4.9x3x
Thu, 11 Jan 2024CHF 141.6bCHF 71.1bCHF 34.7b14.7x4.1x2x
Sat, 09 Dec 2023CHF 139.4bCHF 72.2bCHF 35.6b13.9x3.9x1.9x
Mon, 06 Nov 2023CHF 126.5bCHF 69.9bCHF 38.3b13.9x3.3x1.8x
Wed, 04 Oct 2023CHF 128.9bCHF 70.6bCHF 38.9b13.6x3.3x1.8x
Fri, 01 Sep 2023CHF 125.7bCHF 69.3bCHF 14.0b13.6x9x1.8x
Sun, 30 Jul 2023CHF 114.7bCHF 68.8bCHF 13.6b13.9x8.4x1.7x
Tue, 27 Jun 2023CHF 102.6bCHF 69.4bCHF 13.7b13.2x7.5x1.5x
Thu, 25 May 2023CHF 104.2bCHF 69.7bCHF 13.9b14.7x7.5x1.5x
Sat, 22 Apr 2023CHF 109.5bCHF 56.0bCHF 2.0b15.3x53.5x2x
Mon, 20 Mar 2023CHF 105.1bCHF 57.7bCHF 2.6b14.4x40.1x1.8x
Wed, 15 Feb 2023CHF 125.6bCHF 58.0bCHF 2.6b14.6x48.4x2.2x
Price to Earnings Ratio

48.4x


Total Market Cap: CHF 125.6bTotal Earnings: CHF 2.6bTotal Revenue: CHF 58.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 16.8x202420252026
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 16.8x.
  • 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 53% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.8% 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 Market2.20%
Financials-0.86%
Capital Markets-5.54%
Investment Banking and Brokerage-2.80%
Asset Management-3.14%
Diversified Capital Markets-6.98%
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 10.8%, 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
BAER Julius Bär GruppeCHF 66.823.4%
+CHF 459.9m		16.8%PE17.9x
VONN Vontobel HoldingCHF 67.701.7%
+CHF 23.1m		4.0%PE13.5x
VPBN VP BankCHF 86.001.9%
+CHF 10.0m		6.2%PE15x
NBEN nebag agCHF 6.000.8%
+CHF 456.3k		-7.7%PS42.8x

Latest News

VONN
CHF 67.70
Vontobel Holding
7D
1.7%
1Y
4.0%
UBSG
CHF 33.85
UBS Group
7D
-7.0%
1Y
11.3%
BAER
CHF 66.82
Julius Bär Gruppe
7D
3.4%
1Y
16.8%

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 968.00
Partners Group Holding
7D
-7.8%
1Y
-30.2%

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.
EFGN
CHF 19.38
EFG International
7D
-1.5%
1Y
38.8%
VPBN
CHF 86.00
VP Bank
7D
1.9%
1Y
6.2%
CFT
CHF 289.00
Compagnie Financière Tradition
7D
-1.7%
1Y
44.5%
SQN
CHF 424.20
Swissquote Group Holding
7D
-3.2%
1Y
3.6%

SQN: Fragmented European Retail Market Will Shape Next Phase Of Opportunity

Narrative update The analyst price target for Swissquote Group Holding has been raised from CHF 620 to CHF 630, as analysts factor in updated assumptions on revenue growth, profit margins and future P/E, along with recent rating changes and coverage that highlight a still fragmented and underpenetrated European retail investment market. Analyst Commentary Recent research activity around Swissquote Group Holding highlights a mix of fresh coverage and more constructive stances from bullish analysts, with updated price targets helping shape expectations for valuation and execution risk.
GAM
CHF 0.13
GAM Holding
7D
-3.4%
1Y
28.6%
BBN
CHF 10.80
Bellevue Group
7D
-4.4%
1Y
-23.7%

Bellevue Group AG (VTX:BBN) Stock Catapults 27% Though Its Price And Business Still Lag The Industry

Dec 23
Bellevue Group AG (VTX:BBN) Stock Catapults 27% Though Its Price And Business Still Lag The Industry
VZN
CHF 149.00
VZ Holding
7D
-1.5%
1Y
-5.6%

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%