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Swiss (SMI) Healthcare Sector Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies34
  • 7D2.5%
  • 3M16.2%
  • 1Y21.7%
  • YTD19.7%

In the last week, the Healthcare industry is up 2.5%, with Roche Holding up 2.9%. In the last 12 months, the industry was up 22%. Looking forward, earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025CHF 689.2bCHF 154.1bCHF 24.8b30x27.8x4.5x
Sat, 22 Nov 2025CHF 654.3bCHF 155.7bCHF 25.0b27.6x26.1x4.2x
Mon, 20 Oct 2025CHF 627.7bCHF 153.2bCHF 24.1b30.6x26x4.1x
Wed, 17 Sep 2025CHF 598.4bCHF 152.7bCHF 24.0b32.7x24.9x3.9x
Fri, 15 Aug 2025CHF 595.9bCHF 154.4bCHF 24.4b34.2x24.4x3.9x
Sun, 13 Jul 2025CHF 585.7bCHF 149.8bCHF 22.2b31x26.4x3.9x
Tue, 10 Jun 2025CHF 596.8bCHF 151.7bCHF 22.6b30.8x26.4x3.9x
Thu, 08 May 2025CHF 576.7bCHF 151.5bCHF 22.5b29.5x25.6x3.8x
Sat, 05 Apr 2025CHF 550.5bCHF 153.4bCHF 22.3b26.5x24.7x3.6x
Mon, 03 Mar 2025CHF 629.9bCHF 156.0bCHF 22.5b26.2x28x4x
Wed, 29 Jan 2025CHF 611.4bCHF 152.7bCHF 24.5b32.1x24.9x4x
Fri, 27 Dec 2024CHF 562.0bCHF 152.3bCHF 24.5b28.4x23x3.7x
Sun, 24 Nov 2024CHF 578.0bCHF 151.8bCHF 24.4b29.8x23.7x3.8x
Tue, 22 Oct 2024CHF 616.2bCHF 148.6bCHF 22.6b31x27.3x4.1x
Thu, 19 Sep 2024CHF 603.6bCHF 147.1bCHF 22.3b32.2x27x4.1x
Sat, 17 Aug 2024CHF 619.1bCHF 148.3bCHF 22.4b32.5x27.7x4.2x
Mon, 15 Jul 2024CHF 595.8bCHF 148.7bCHF 22.7b37.8x26.3x4x
Wed, 12 Jun 2024CHF 567.6bCHF 149.0bCHF 22.7b34.4x25x3.8x
Fri, 10 May 2024CHF 540.6bCHF 146.0bCHF 22.8b32.7x23.7x3.7x
Sun, 07 Apr 2024CHF 543.6bCHF 144.4bCHF 22.3b35.9x24.4x3.8x
Tue, 05 Mar 2024CHF 532.4bCHF 143.3bCHF 22.7b36.7x23.5x3.7x
Thu, 01 Feb 2024CHF 539.2bCHF 152.5bCHF 21.4b33.3x25.2x3.5x
Sat, 30 Dec 2023CHF 522.6bCHF 150.5bCHF 21.7b26.4x24.1x3.5x
Mon, 27 Nov 2023CHF 516.0bCHF 153.6bCHF 22.0b24.9x23.4x3.4x
Wed, 25 Oct 2023CHF 503.8bCHF 153.3bCHF 21.6b25.6x23.3x3.3x
Fri, 22 Sep 2023CHF 535.8bCHF 145.4bCHF 21.2b32.4x25.3x3.7x
Sun, 20 Aug 2023CHF 538.9bCHF 144.0bCHF 21.1b29.2x25.6x3.7x
Tue, 18 Jul 2023CHF 550.1bCHF 144.9bCHF 22.0b35.9x25x3.8x
Thu, 15 Jun 2023CHF 567.2bCHF 147.2bCHF 22.2b34.8x25.5x3.9x
Sat, 13 May 2023CHF 586.5bCHF 147.1bCHF 22.2b35.1x26.4x4x
Mon, 10 Apr 2023CHF 574.6bCHF 147.3bCHF 22.4b33.1x25.6x3.9x
Wed, 08 Mar 2023CHF 532.8bCHF 149.1bCHF 22.6b30.8x23.6x3.6x
Fri, 03 Feb 2023CHF 563.8bCHF 148.7bCHF 24.9b32.4x22.6x3.8x
Sun, 01 Jan 2023CHF 559.7bCHF 148.5bCHF 38.0b29.7x14.7x3.8x
Price to Earnings Ratio

14.7x


Total Market Cap: CHF 559.7bTotal Earnings: CHF 38.0bTotal Revenue: CHF 148.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 24.9x202320242025
Current Industry PE
  • Investors are optimistic on the Swiss Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 27.8x which is higher than its 3-year average PE of 24.9x.
  • The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 13% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

CH Market1.46%
Healthcare2.50%
Life Sciences3.60%
Healthcare Services3.52%
Biotech3.21%
Pharma2.66%
Healthtech0.83%
Medical Equipment0.36%
Industry PE
  • Investors are most optimistic about the Biotech industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 25.7% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the Pharma industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.9x.
Forecasted Growth
  • Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings decline of 80% per year.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 5.3% 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
ROG Roche HoldingCHF 329.602.9%
+CHF 7.8b		31.3%PE29.7x
NOVN NovartisCHF 110.102.4%
+CHF 5.0b		25.6%PE18.6x
LONN Lonza GroupCHF 533.002.7%
+CHF 983.2m		0.1%PE51.1x
SDZ Sandoz GroupCHF 58.623.8%
+CHF 913.1m		58.2%PE140.8x
GALD Galderma GroupCHF 164.101.3%
+CHF 498.6m		66.9%PE130.5x

Latest News

LONN
CHF 533.00
Lonza Group
7D
2.7%
1Y
0.1%

Is There Now An Opportunity In Lonza Group AG (VTX:LONN)?

Dec 22
Is There Now An Opportunity In Lonza Group AG (VTX:LONN)?
SDZ
CHF 58.62
Sandoz Group
7D
3.8%
1Y
58.2%

SDZ: Elevated Expectations Will Face Execution Risks In Biosimilars Expansion

Sandoz Group's analyst price target has been lifted by roughly CHF 6.50 to around CHF 60, as analysts now factor in stronger revenue growth, modestly higher profit margins, and a richer forward valuation multiple. Analyst Commentary Recent Street research has been broadly constructive on Sandoz Group, with several major firms lifting their price targets into the CHF 49 to CHF 60 range and maintaining positive ratings.
SOON
CHF 205.80
Sonova Holding
7D
-0.6%
1Y
-30.4%
GALD
CHF 164.10
Galderma Group
7D
1.3%
1Y
66.9%
ROG
CHF 329.60
Roche Holding
7D
2.9%
1Y
31.3%

ROG: Pipeline Data And Digital Execution Will Shape Balanced Risk Reward Ahead

Analysts have nudged their fair value estimate for Roche Holding higher, lifting the target by about CHF 11.50 to reflect slightly stronger long term revenue growth and margin assumptions supported by recent positive readthroughs from partners, incremental pipeline visibility, and a modest firming in Street price targets. Analyst Commentary Bullish analysts emphasize that recent partner updates and pipeline milestones are incrementally improving sentiment on Roche, supporting the view that medium term growth and margin visibility are strengthening despite a still mixed backdrop.
STMN
CHF 92.86
Straumann Holding
7D
-2.3%
1Y
-18.7%

STMN: Improving U.S. Momentum Will Likely Drive Renewed Optimism And Upside

The analyst price target for Straumann Holding has been modestly increased to CHF 112.24 from CHF 112.43, as analysts factor in improving investor sentiment, gradually better operational momentum in the U.S., and a slightly higher future earnings multiple despite trimmed growth and margin expectations. Analyst Commentary Recent research updates on Straumann Holding present a mixed but gradually improving picture, with several bullish analysts highlighting better sentiment and operational progress, while more cautious voices point to lingering earnings and valuation risks.
BANB
CHF 59.45
Bachem Holding
7D
11.5%
1Y
2.9%

BANB Building K Expansion Will Define Future Upside And Execution Risk

Analysts have raised their price target for Bachem Holding from approximately CHF 58 to about CHF 75, citing increased confidence in revenue growth driven by the company's Building K expansion project, despite a slightly higher discount rate and modestly lower profit margin and valuation multiples. Analyst Commentary Recent research commentary highlights a more constructive stance on Bachem Holding, with the upgraded price target to CHF 75 framed around the growth potential from the Building K expansion project.
ALC
CHF 63.40
Alcon
7D
1.5%
1Y
-17.1%

ALC: Future Surgical Efficiency Gains Will Support Share Outperformance

Analysts have slightly reduced their price target on Alcon to reflect a modestly lower fair value estimate of approximately $79.76. This adjustment comes even as projected revenue growth has been revised marginally higher, because that improvement is offset by a slightly reduced profit margin and an almost unchanged future price-to-earnings multiple.
NOVN
CHF 110.10
Novartis
7D
2.4%
1Y
25.6%

NOVN: Future Returns Will Reflect Pipeline Progress And Expanding US Manufacturing

Analysts have modestly raised their price target on Novartis to approximately $109 from about $105. This change reflects a higher expected future valuation multiple, which more than offsets slightly lower long term revenue growth and profit margin assumptions.
DESN
CHF 341.00
Dottikon ES Holding
7D
4.0%
1Y
57.5%
KURN
CHF 27.70
Kuros Biosciences
7D
-0.6%
1Y
37.1%

Kuros Biosciences AG's (VTX:KURN) Sole Analyst Just Made A Notable Upgrade To Their Forecasts

Oct 18
Kuros Biosciences AG's (VTX:KURN) Sole Analyst Just Made A Notable Upgrade To Their Forecasts
CURN
CHF 11.55
Curatis Holding
7D
-0.4%
1Y
-9.1%
VBSN
CHF 137.00
IVF Hartmann Holding
7D
-0.7%
1Y
-8.7%