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Swiss (SMI) Healthcare Sector Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies34
  • 7D-4.3%
  • 3M-3.3%
  • 1Y4.8%
  • YTD-2.2%

Over the last 7 days, the Healthcare industry has dropped 4.3%, driven by Roche Holding declining 5.6%. Over the past 12 months, the industry was up 4.8%. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

Has the Swiss Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026CHF 647.3bCHF 154.9bCHF 28.5b32.2x22.7x4.2x
Fri, 20 Feb 2026CHF 734.7bCHF 152.5bCHF 27.8b34.9x26.4x4.8x
Sun, 18 Jan 2026CHF 722.5bCHF 155.2bCHF 25.0b32.3x28.9x4.7x
Tue, 16 Dec 2025CHF 675.8bCHF 154.7bCHF 24.9b29x27.2x4.4x
Thu, 13 Nov 2025CHF 643.8bCHF 154.6bCHF 24.8b29x26x4.2x
Sat, 11 Oct 2025CHF 634.6bCHF 153.9bCHF 24.3b31.5x26.2x4.1x
Mon, 08 Sep 2025CHF 630.5bCHF 153.6bCHF 24.2b33.4x26.1x4.1x
Wed, 06 Aug 2025CHF 595.5bCHF 154.0bCHF 24.3b29.3x24.5x3.9x
Fri, 04 Jul 2025CHF 584.5bCHF 149.7bCHF 22.2b30.7x26.3x3.9x
Sun, 01 Jun 2025CHF 583.8bCHF 151.8bCHF 22.6b30.8x25.8x3.8x
Tue, 29 Apr 2025CHF 572.2bCHF 150.2bCHF 21.8b27.9x26.2x3.8x
Thu, 27 Mar 2025CHF 612.7bCHF 155.0bCHF 22.5b30.6x27.2x4x
Sat, 22 Feb 2025CHF 635.1bCHF 155.5bCHF 22.6b27.2x28.2x4.1x
Mon, 20 Jan 2025CHF 586.3bCHF 153.4bCHF 24.6b30.1x23.8x3.8x
Wed, 18 Dec 2024CHF 571.2bCHF 151.8bCHF 24.4b28.8x23.4x3.8x
Fri, 15 Nov 2024CHF 585.6bCHF 151.5bCHF 24.4b29.3x24x3.9x
Sun, 13 Oct 2024CHF 609.4bCHF 147.9bCHF 22.5b32.5x27.1x4.1x
Tue, 10 Sep 2024CHF 607.0bCHF 147.2bCHF 22.3b32.9x27.2x4.1x
Thu, 08 Aug 2024CHF 601.3bCHF 147.8bCHF 22.3b31.4x26.9x4.1x
Sat, 06 Jul 2024CHF 577.2bCHF 148.8bCHF 22.7b37.2x25.4x3.9x
Mon, 03 Jun 2024CHF 556.8bCHF 149.3bCHF 22.8b34.2x24.4x3.7x
Wed, 01 May 2024CHF 532.8bCHF 146.6bCHF 22.9b36x23.3x3.6x
Fri, 29 Mar 2024CHF 542.1bCHF 144.4bCHF 22.2b37.1x24.4x3.8x
Sun, 25 Feb 2024CHF 532.9bCHF 142.8bCHF 22.3b35.8x23.9x3.7x
Tue, 23 Jan 2024CHF 547.6bCHF 152.6bCHF 21.9b27.7x24.9x3.6x
Thu, 21 Dec 2023CHF 520.6bCHF 152.1bCHF 21.9b26.1x23.8x3.4x
Sat, 18 Nov 2023CHF 506.8bCHF 154.0bCHF 22.1b23.9x22.9x3.3x
Mon, 16 Oct 2023CHF 534.9bCHF 153.9bCHF 21.7b27.5x24.6x3.5x
Wed, 13 Sep 2023CHF 540.4bCHF 144.6bCHF 21.1b29.5x25.6x3.7x
Fri, 11 Aug 2023CHF 555.9bCHF 143.4bCHF 21.1b32.8x26.3x3.9x
Sun, 09 Jul 2023CHF 543.9bCHF 146.7bCHF 22.2b35.5x24.5x3.7x
Tue, 06 Jun 2023CHF 582.5bCHF 147.7bCHF 22.3b35.3x26.1x3.9x
Thu, 04 May 2023CHF 580.7bCHF 146.5bCHF 22.3b33.4x26.1x4x
Sat, 01 Apr 2023CHF 554.5bCHF 147.7bCHF 22.5b37.7x24.7x3.8x
Price to Earnings Ratio

24.7x


Total Market Cap: CHF 554.5bTotal Earnings: CHF 22.5bTotal Revenue: CHF 147.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 25.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Swiss Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 22.7x which is lower than its 3-year average PE of 25.4x.
  • The industry is trading close to its 3-year average PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 8.2% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Swiss Healthcare sector?

CH Market-3.14%
Healthcare-4.29%
Healthtech-0.79%
Biotech-1.67%
Life Sciences-2.23%
Healthcare Services-4.30%
Pharma-4.42%
Medical Equipment-4.76%
Industry PE
  • Investors are most optimistic about the Life Sciences industry even though it's trading below its 3-year average PE ratio of 45.9x.
    • Analysts are expecting annual earnings growth of 19.0%, which is lower than the prior year's growth of 23.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 48% over the next 5 years.
  • This is better than its past earnings decline of 48% per year.
  • In contrast, the Healthtech industry is expected to see its earnings grow by 3.5% 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
BANB Bachem HoldingCHF 62.652.5%
+CHF 116.2m		16.4%PE31.6x
TECN Tecan GroupCHF 125.102.9%
+CHF 43.9m		-28.5%PS1.8x
MOLN Molecular PartnersCHF 3.376.8%
+CHF 8.0m		1.4%PB1.6x
BIOV BioVersysCHF 28.301.8%
+CHF 2.9m		-21.6%PS52.1x

Latest News

TECN
CHF 125.10
Tecan Group
7D
2.9%
1Y
-28.5%
ROP
CHF 305.80
Roche Holding
7D
-5.6%
1Y
0.03%
ROG
CHF 322.30
Roche Holding
7D
-3.0%
1Y
3.6%
MOLN
CHF 3.37
Molecular Partners
7D
6.8%
1Y
1.4%
GALD
CHF 143.50
Galderma Group
7D
-1.2%
1Y
49.8%
ALC
CHF 58.70
Alcon
7D
-4.1%
1Y
-28.0%

ALC: New Lens Launches And Share Buybacks Will Support Future Outperformance

Analysts have raised their CHF price target for Alcon by roughly CHF 3, reflecting updated assumptions that combine slightly softer revenue growth with higher profit margins and a lower future P/E multiple. What's in the News Alcon launched TOTAL30 Multifocal for Astigmatism in the U.S., described as the only multifocal toric contact lens with Water Gradient Technology aimed at presbyopic patients with astigmatism (Key Developments).
SOON
CHF 171.30
Sonova Holding
7D
-9.5%
1Y
-36.1%

SOON: Higher P E Assumptions May Drive Shares Higher Over Time

Analysts have adjusted the Sonova Holding price target slightly higher from CHF 226.50 to about CHF 227.30, reflecting mixed recent research in which some see improved upside potential, while others are growing more cautious on assumptions such as discount rate, growth, margins and future P/E. Analyst Commentary Recent research on Sonova highlights a split view on the shares, with some analysts pointing to improved upside and others turning more cautious on the assumptions that underpin current valuation.
NOVN
CHF 117.48
Novartis
7D
-3.5%
1Y
20.0%
BANB
CHF 62.65
Bachem Holding
7D
2.5%
1Y
16.4%

BANB: Future Execution On Growth Plans Will Support Higher CHF 80 Upside Potential

Analysts have nudged the consolidated price target for Bachem Holding to CHF 80, up CHF 5 from prior levels, citing updated assumptions for growth, profitability and a slightly lower P/E outlook that align with recent Street research moves. Analyst Commentary Street research on Bachem Holding has been mixed, with some analysts lifting price targets toward CHF 80 while others are more hesitant and keep targets closer to CHF 60.
SDZ
CHF 60.00
Sandoz Group
7D
-4.6%
1Y
56.3%

SDZ: Mixed Rating Shifts And Biosimilar Expansion Will Shape Future P/E

Analysts have lifted the Fair Value estimate for Sandoz Group from CHF 62.57 to CHF 65.45. This reflects a series of higher Street price targets around CHF 62 to CHF 75 and updated assumptions for modestly higher revenue growth, a slightly lower profit margin profile, and a higher future P/E multiple.
BIOV
CHF 28.30
BioVersys
7D
1.8%
1Y
-21.6%

Global Antibiotic Partnerships And New Reimbursement Models Will Support Strong Future Potential

Catalysts About BioVersys BioVersys is a clinical stage biopharmaceutical company focused on antibiotics targeting severe drug resistant infections and tuberculosis. What are the underlying business or industry changes driving this perspective?
LONN
CHF 476.70
Lonza Group
7D
-2.4%
1Y
-16.5%