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Swiss (SMI) Capital Markets Industry Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies18
  • 7D4.2%
  • 3M16.7%
  • 1Y24.5%
  • YTD1.1%

Over the last 7 days, the Capital Markets industry has risen 5.2%, driven by gains from UBS Group of 4.0%. Meanwhile, GAM Holding actually underperformed within the industry, shrinking 6.3% in the last week. This means that the industry has gained 27% over the past year. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Jul 2026CHF 186.1bCHF 54.1bCHF 11.0b16x17x3.4x
Fri, 05 Jun 2026CHF 169.5bCHF 52.9bCHF 10.5b15.7x16.1x3.2x
Sun, 03 May 2026CHF 166.0bCHF 52.5bCHF 10.5b16.2x15.9x3.2x
Tue, 31 Mar 2026CHF 148.3bCHF 52.0bCHF 9.5b15.1x15.5x2.9x
Thu, 26 Feb 2026CHF 158.9bCHF 50.0bCHF 9.2b17.4x17.3x3.2x
Sat, 24 Jan 2026CHF 185.7bCHF 49.9bCHF 9.1b18.6x20.4x3.7x
Mon, 22 Dec 2025CHF 180.5bCHF 50.2bCHF 9.1b18.2x19.8x3.6x
Wed, 19 Nov 2025CHF 156.0bCHF 50.4bCHF 9.2b16.4x17x3.1x
Fri, 17 Oct 2025CHF 161.4bCHF 49.2bCHF 8.3b17.9x19.5x3.3x
Sun, 14 Sep 2025CHF 168.6bCHF 49.3bCHF 8.3b16.8x20.3x3.4x
Tue, 12 Aug 2025CHF 169.0bCHF 49.8bCHF 8.3b19.8x20.4x3.4x
Thu, 10 Jul 2025CHF 150.7bCHF 49.7bCHF 7.3b15.1x20.6x3x
Sat, 07 Jun 2025CHF 149.6bCHF 51.0bCHF 7.4b14.9x20.1x2.9x
Mon, 05 May 2025CHF 140.9bCHF 51.2bCHF 7.5b14.7x18.9x2.8x
Wed, 02 Apr 2025CHF 153.1bCHF 54.2bCHF 7.8b13.4x19.6x2.8x
Fri, 28 Feb 2025CHF 165.0bCHF 54.5bCHF 7.7b19.8x21.5x3x
Sun, 26 Jan 2025CHF 173.4bCHF 53.3bCHF 6.5b21.4x26.7x3.3x
Tue, 24 Dec 2024CHF 150.6bCHF 53.0bCHF 6.5b19.8x23.3x2.8x
Thu, 21 Nov 2024CHF 152.2bCHF 52.3bCHF 6.4b19.4x23.7x2.9x
Sat, 19 Oct 2024CHF 155.8bCHF 50.7bCHF 4.5b17.7x34.8x3.1x
Mon, 16 Sep 2024CHF 139.9bCHF 50.1bCHF 4.4b16x31.6x2.8x
Wed, 14 Aug 2024CHF 139.0bCHF 48.4bCHF 27.1b14.9x5.1x2.9x
Fri, 12 Jul 2024CHF 150.9bCHF 49.8bCHF 28.1b15.6x5.4x3x
Sun, 09 Jun 2024CHF 150.7bCHF 49.8bCHF 28.1b15x5.4x3x
Tue, 07 May 2024CHF 139.9bCHF 46.7bCHF 27.7b16.5x5.1x3x
Thu, 04 Apr 2024CHF 151.1bCHF 46.6bCHF 27.6b17.3x5.5x3.2x
Sat, 02 Mar 2024CHF 142.3bCHF 46.0bCHF 28.1b16.4x5.1x3.1x
Mon, 29 Jan 2024CHF 142.9bCHF 71.6bCHF 35.1b14.7x4.1x2x
Wed, 27 Dec 2023CHF 145.9bCHF 71.3bCHF 34.8b14.2x4.2x2x
Fri, 24 Nov 2023CHF 132.7bCHF 72.3bCHF 35.7b13.2x3.7x1.8x
Sun, 22 Oct 2023CHF 121.6bCHF 69.7bCHF 38.1b12.8x3.2x1.7x
Tue, 19 Sep 2023CHF 132.6bCHF 69.9bCHF 38.2b13.8x3.5x1.9x
Thu, 17 Aug 2023CHF 117.0bCHF 69.1bCHF 14.0b13.6x8.4x1.7x
Sat, 15 Jul 2023CHF 108.4bCHF 68.2bCHF 13.5b13.7x8x1.6x
Price to Earnings Ratio

8x


Total Market Cap: CHF 108.4bTotal Earnings: CHF 13.5bTotal Revenue: CHF 68.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 15.2x202420252026
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 17.1x which is higher than its 3-year average PE of 15.2x.
  • The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 6.7% per year over the last three years,
  • Revenues have also declined 7.5% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

CH Market0.84%
Financials3.04%
Capital Markets4.17%
Investment Banking and Brokerage8.31%
Diversified Capital Markets3.99%
Asset Management3.93%
Industry PE
  • Investors are most optimistic about the Diversified Capital Markets industry which is trading above its 3-year average PE ratio of 14.9x.
    • Analysts are expecting annual earnings growth of 12.3%, which is lower than the prior year's growth of 81.5% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 21.7x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 12% 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 8.3% 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 41.664.0%
+CHF 4.9b		49.0%PE17.2x
BAER Julius Bär GruppeCHF 73.925.9%
+CHF 844.6m		35.0%PE19.8x
SQN Swissquote Group HoldingCHF 41.8010.3%
+CHF 584.5m		-12.4%PE17.1x
PGHN Partners Group HoldingCHF 676.202.1%
+CHF 361.0m		-36.0%PE13.8x
VZN VZ HoldingCHF 158.604.8%
+CHF 283.6m		-8.4%PE26.5x

Latest News

BAER
CHF 73.92
Julius Bär Gruppe
7D
5.9%
1Y
35.0%
Narrative Update • Jul 06

BAER: Fairly Valued Outlook Hinges On Flow Recovery And Profit Delivery

The fair value estimate for Julius Bär Gruppe has been nudged higher to CHF 70.88 from CHF 69.35, as analysts factor in slightly stronger revenue growth assumptions, a modestly higher future P/E of 14.23x, and a stream of raised price targets ranging from CHF 66 to CHF 81 across recent research updates. Analyst Commentary Recent research on Julius Bär Gruppe shows a mix of optimism and caution, with several firms lifting price targets into the mid to high CHF 70s and CHF 80 region, while at least one downgrade highlights concerns around expectations and execution risk.
UBSG
CHF 41.66
UBS Group
7D
4.0%
1Y
49.0%
PGHN
CHF 676.20
Partners Group Holding
7D
2.1%
1Y
-36.0%
Narrative Update • Jul 02

PGHN: Revised P/E Assumptions Will Support Future Confidence In Fee Resilience

Partners Group Holding's analyst price target has been revised lower to CHF 860 from CHF 960, as analysts factor in more moderate revenue growth expectations, a slightly lower future P/E multiple, and updated sector views from recent research. Analyst Commentary Recent research on Partners Group Holding points to a more cautious stance from equity analysts, with several price target reductions and rating changes shaping how the stock is being framed on valuation, execution risk, and growth expectations.
SQN
CHF 41.80
Swissquote Group Holding
7D
10.3%
1Y
-12.4%
Narrative Update • Jul 01

SQN: Trading Volumes And Higher P/E Will Likely Restrain Future Upside

Analysts have lifted their price target on Swissquote Group Holding to around CHF 41, with some citing that near term crypto headwinds are being offset by stronger trading volumes as a key driver for the reassessment. What’s in the News for Swissquote Group Holding Swissquote Group Holding is scheduled to carry out a 10 for 1 stock split or significant stock dividend on May 28, 2026, according to company event disclosures.
HBMN
CHF 255.50
HBM Healthcare Investments
7D
8.3%
1Y
55.4%
EFGN
CHF 16.54
EFG International
7D
2.0%
1Y
10.3%
Narrative Update • Jun 24

EFGN: Future Upside Will Rely On Refined P/E And Margin Assumptions

EFG International's analyst fair value estimate has edged higher from CHF 19.30 to CHF 19.55. Analysts point to recent Citi price target revisions around CHF 18.40 to CHF 18.70, as well as updated assumptions on discount rates, profit margins, revenue growth and future P/E, as key drivers behind the refreshed view.
VONN
CHF 77.00
Vontobel Holding
7D
4.9%
1Y
17.9%
Narrative Update • Jun 23

VONN: Neutral Outlook Will Rely On Discount Rate And US Expansion

Analysts have kept their CHF 68.75 price target for Vontobel Holding unchanged, citing largely stable assumptions around the discount rate, revenue growth, profit margins and future P/E estimates. What’s in the News for Vontobel Holding Vontobel Holding opened a new office in Los Angeles as part of its continued US expansion, aiming to be closer to clients and partners.
GAM
CHF 0.063
GAM Holding
7D
-6.3%
1Y
-35.9%
HAUTE
CHF 53.90
Haute Capital Partners
7D
-2.7%
1Y
-65.9%
NBEN
CHF 6.05
nebag ag
7D
-0.8%
1Y
-4.0%
REALU
CHF 1.37
RealUnit Schweiz
7D
-0.7%
1Y
11.4%
VZN
CHF 158.60
VZ Holding
7D
4.8%
1Y
-8.4%