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Swiss (SMI) Capital Markets Industry Analysis

UpdatedMay 23, 2026
DataAggregated Company Financials
Companies17
  • 7D1.2%
  • 3M6.1%
  • 1Y21.0%
  • YTD-5.8%

Over the last 7 days, the Capital Markets industry has risen 1.2%, driven by gains from UBS Group of 3.1%. During this same period, the Julius Bär Gruppe underperformed, falling 6.5%. In the last 12 months, the industry was up 21%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 23 May 2026CHF 171.8bCHF 52.6bCHF 10.5b16.2x16.4x3.3x
Mon, 20 Apr 2026CHF 169.3bCHF 51.1bCHF 9.4b17.1x18x3.3x
Wed, 18 Mar 2026CHF 150.4bCHF 51.3bCHF 9.4b16.4x16.1x2.9x
Fri, 13 Feb 2026CHF 161.4bCHF 49.7bCHF 9.2b16.7x17.5x3.2x
Sun, 11 Jan 2026CHF 187.3bCHF 50.5bCHF 9.2b17.4x20.4x3.7x
Tue, 09 Dec 2025CHF 167.0bCHF 50.8bCHF 9.2b17.6x18.1x3.3x
Thu, 06 Nov 2025CHF 159.9bCHF 51.0bCHF 9.3b16.6x17.3x3.1x
Sat, 04 Oct 2025CHF 168.3bCHF 49.3bCHF 8.3b17.4x20.3x3.4x
Mon, 01 Sep 2025CHF 169.2bCHF 49.3bCHF 8.3b15.9x20.5x3.4x
Wed, 30 Jul 2025CHF 159.7bCHF 50.1bCHF 7.2b23.2x22.1x3.2x
Fri, 27 Jun 2025CHF 142.0bCHF 49.9bCHF 7.3b14.5x19.4x2.8x
Sun, 25 May 2025CHF 143.2bCHF 50.9bCHF 7.4b15.8x19.3x2.8x
Tue, 22 Apr 2025CHF 132.3bCHF 51.0bCHF 7.5b14.1x17.7x2.6x
Thu, 20 Mar 2025CHF 161.8bCHF 53.8bCHF 7.7b17.5x20.9x3x
Sat, 15 Feb 2025CHF 168.6bCHF 54.5bCHF 7.7b16.4x22x3.1x
Mon, 13 Jan 2025CHF 162.9bCHF 53.8bCHF 6.6b20.4x24.9x3x
Wed, 11 Dec 2024CHF 155.8bCHF 52.2bCHF 6.4b20.3x24.3x3x
Fri, 08 Nov 2024CHF 155.4bCHF 51.7bCHF 6.4b19.1x24.5x3x
Sun, 06 Oct 2024CHF 147.9bCHF 50.6bCHF 4.5b19.3x33.1x2.9x
Tue, 03 Sep 2024CHF 144.1bCHF 50.4bCHF 4.5b16.6x32.2x2.9x
Thu, 01 Aug 2024CHF 145.0bCHF 49.0bCHF 27.5b16.1x5.3x3x
Sat, 29 Jun 2024CHF 143.7bCHF 49.9bCHF 28.1b15.1x5.1x2.9x
Mon, 27 May 2024CHF 152.2bCHF 50.6bCHF 28.6b16.3x5.3x3x
Wed, 24 Apr 2024CHF 141.4bCHF 46.9bCHF 27.8b16.9x5.1x3x
Fri, 22 Mar 2024CHF 152.4bCHF 46.6bCHF 28.5b17.5x5.4x3.3x
Sun, 18 Feb 2024CHF 138.1bCHF 45.9bCHF 28.0b16x4.9x3x
Tue, 16 Jan 2024CHF 140.2bCHF 71.3bCHF 34.8b14.5x4x2x
Thu, 14 Dec 2023CHF 139.5bCHF 72.1bCHF 35.4b13.8x3.9x1.9x
Sat, 11 Nov 2023CHF 126.7bCHF 73.1bCHF 36.3b12.6x3.5x1.7x
Mon, 09 Oct 2023CHF 128.6bCHF 70.3bCHF 38.6b13.7x3.3x1.8x
Wed, 06 Sep 2023CHF 133.7bCHF 69.4bCHF 37.8b13.6x3.5x1.9x
Fri, 04 Aug 2023CHF 112.1bCHF 68.9bCHF 13.9b14.4x8x1.6x
Sun, 02 Jul 2023CHF 105.4bCHF 69.3bCHF 13.7b13.2x7.7x1.5x
Tue, 30 May 2023CHF 104.3bCHF 69.7bCHF 13.9b14.6x7.5x1.5x
Price to Earnings Ratio

7.5x


Total Market Cap: CHF 104.3bTotal Earnings: CHF 13.9bTotal Revenue: CHF 69.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Capital Markets Industry Price to Earnings3Y Average 14.8x202420252026
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 16.4x which is higher than its 3-year average PE of 14.8x.
  • The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 8.8% per year over the last three years,
  • Revenues have also declined 8.9% 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 Market1.83%
Financials0.56%
Capital Markets1.19%
Investment Banking and Brokerage4.70%
Diversified Capital Markets3.11%
Asset Management-3.35%
Industry PE
  • Investors are most optimistic about the Asset Management industry even though it's trading below its 3-year average PE ratio of 21.8x.
    • Analysts are expecting annual earnings growth of 11.2%, which is higher than its past year's earnings growth of 8.0% per year.
  • Investors are most pessimistic about the Diversified Capital Markets industry, which is trading close to its 3-year average of 14.5x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Capital Markets industry, expecting annual earnings growth of 13% 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 8.9% 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 37.093.1%
+CHF 3.4b		42.2%PE15.8x
SQN Swissquote Group HoldingCHF 408.406.4%
+CHF 365.7m		-12.2%PE16.7x
VZN VZ HoldingCHF 147.800.8%
+CHF 47.3m		-14.6%PE24.7x
VONN Vontobel HoldingCHF 69.101.0%
+CHF 39.0m		10.6%PE13.8x
CFT Compagnie Financière TraditionCHF 289.500.5%
+CHF 11.4m		22.7%PE16.4x

Latest News

UBSG
CHF 37.09
UBS Group
7D
3.1%
1Y
42.2%
CFT
CHF 289.50
Compagnie Financière Tradition
7D
0.5%
1Y
22.7%
EFGN
CHF 16.44
EFG International
7D
-4.9%
1Y
24.0%
HAUTE
CHF 70.00
Haute Capital Partners
7D
-12.6%
1Y
-51.7%
REALU
CHF 1.44
RealUnit Schweiz
7D
-0.7%
1Y
16.1%
PGHN
CHF 858.80
Partners Group Holding
7D
-3.0%
1Y
-19.8%
Narrative Update • May 19

PGHN: Dividend And Diversified Private Markets Platform Will Support Future Upside

Analysts have reduced their fair value estimate for Partners Group Holding from CHF 1,400 to CHF 1,300. This reflects a lower average price target on the stock after recent cuts and downgrades in Street research.
SQN
CHF 408.40
Swissquote Group Holding
7D
6.4%
1Y
-12.2%
Narrative Update • May 18

SQN: Dividend Visibility And Premium P/E Will Drive Future Upside Potential

Analysts have modestly revised their price target for Swissquote Group Holding to CHF 489 from CHF 494, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Swissquote Group Holding SA announced an annual dividend of CHF 7.40 per share.
VONN
CHF 69.10
Vontobel Holding
7D
1.0%
1Y
10.6%
Narrative Update • May 15

VONN: Neutral Outlook Will Rely On Discount Rate And P E Assumptions

Analysts have maintained their CHF 68.75 price target for Vontobel Holding, using a slightly lower discount rate and marginally adjusted long term assumptions on revenue growth, profit margin and future P/E to support the unchanged valuation. Valuation Changes Fair Value: CHF 68.75 remains unchanged, so the updated assumptions still point to the same indicative value.
BAER
CHF 63.38
Julius Bär Gruppe
7D
-6.5%
1Y
19.0%
Narrative Update • May 15

BAER: Future Returns Will Depend On Balanced Execution After Cautious CHF 72 Revisions

Analysts have nudged up the price target for Julius Bär Gruppe, with recent moves such as Citi lifting its target to CHF 72 from CHF 67.50 and Morgan Stanley adjusting to CHF 59 from CHF 58. These changes reflect updated assumptions on fair value, discount rate and earnings multiples.
GAM
CHF 0.068
GAM Holding
7D
7.6%
1Y
-32.2%
VLRT
CHF 10.80
Valartis Group
7D
-6.1%
1Y
-1.8%
VPBN
CHF 85.30
VP Bank
7D
2.0%
1Y
2.5%
LEON
CHF 15.10
Leonteq
7D
3.4%
1Y
-12.7%
Narrative Update • May 03

LEON: Stable Outlook Will Balance Ownership Shift Governance Changes And Dividend Pause

Analysts have kept their CHF price target for Leonteq unchanged at CHF 14.10, reflecting stable assumptions around fair value, revenue growth, profit margin and future P/E expectations. What's in the News At the Annual General Meeting on April 1, 2026, shareholders approved changes to Leonteq AG's Articles of Association, indicating updated corporate bylaws and governance rules (Key Developments).
VZN
CHF 147.80
VZ Holding
7D
0.8%
1Y
-14.6%
SQL
CHF 4.00
Matador Secondary Private Equity
7D
-2.0%
1Y
-7.0%