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Swiss (SMI) Healthcare Sector Analysis

UpdatedMay 13, 2026
DataAggregated Company Financials
Companies34
  • 7D0.4%
  • 3M-6.9%
  • 1Y17.4%
  • YTD0.2%

The Healthcare industry has been flat over the last week, but Alcon has lost 14%. As for the the longer term, the industry is up 17% over the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 May 2026CHF 663.2bCHF 154.4bCHF 27.8b33.7x23.9x4.3x
Fri, 10 Apr 2026CHF 675.3bCHF 155.1bCHF 28.5b32x23.7x4.4x
Sun, 08 Mar 2026CHF 697.9bCHF 153.7bCHF 28.5b31.3x24.5x4.5x
Tue, 03 Feb 2026CHF 703.0bCHF 152.6bCHF 28.2b33.8x24.9x4.6x
Thu, 01 Jan 2026CHF 686.8bCHF 154.3bCHF 24.8b30x27.7x4.4x
Sat, 29 Nov 2025CHF 657.5bCHF 155.2bCHF 25.0b27.8x26.3x4.2x
Mon, 27 Oct 2025CHF 624.1bCHF 153.5bCHF 24.2b32x25.8x4.1x
Wed, 24 Sep 2025CHF 601.8bCHF 153.2bCHF 24.1b33.8x25x3.9x
Fri, 22 Aug 2025CHF 615.5bCHF 154.6bCHF 24.4b34.6x25.2x4x
Sun, 20 Jul 2025CHF 579.4bCHF 151.7bCHF 22.9b30.2x25.3x3.8x
Tue, 17 Jun 2025CHF 586.8bCHF 151.2bCHF 22.5b30.9x26.1x3.9x
Thu, 15 May 2025CHF 563.4bCHF 153.2bCHF 22.8b32.1x24.7x3.7x
Sat, 12 Apr 2025CHF 522.5bCHF 149.8bCHF 21.7b25.8x24.1x3.5x
Mon, 10 Mar 2025CHF 635.3bCHF 154.6bCHF 22.4b27.1x28.3x4.1x
Wed, 05 Feb 2025CHF 623.4bCHF 156.0bCHF 22.4b30.5x27.8x4x
Fri, 03 Jan 2025CHF 569.2bCHF 152.7bCHF 24.5b28.5x23.2x3.7x
Sun, 01 Dec 2024CHF 579.6bCHF 150.8bCHF 24.2b29.2x24x3.8x
Tue, 29 Oct 2024CHF 621.0bCHF 148.5bCHF 22.5b30.7x27.5x4.2x
Thu, 26 Sep 2024CHF 610.8bCHF 147.4bCHF 22.4b31.6x27.3x4.1x
Sat, 24 Aug 2024CHF 625.6bCHF 147.2bCHF 22.3b32.9x28.1x4.3x
Mon, 22 Jul 2024CHF 595.7bCHF 149.4bCHF 23.5b34x25.3x4x
Wed, 19 Jun 2024CHF 567.1bCHF 148.0bCHF 22.6b35.3x25.1x3.8x
Fri, 17 May 2024CHF 564.2bCHF 145.8bCHF 22.9b33.7x24.7x3.9x
Sun, 14 Apr 2024CHF 546.4bCHF 145.2bCHF 22.4b35.2x24.4x3.8x
Tue, 12 Mar 2024CHF 537.7bCHF 142.8bCHF 22.5b36.2x23.9x3.8x
Thu, 08 Feb 2024CHF 519.4bCHF 142.3bCHF 22.3b32.5x23.3x3.6x
Sat, 06 Jan 2024CHF 536.4bCHF 151.1bCHF 21.8b26.8x24.6x3.5x
Mon, 04 Dec 2023CHF 512.5bCHF 152.6bCHF 21.9b25.4x23.4x3.4x
Wed, 01 Nov 2023CHF 496.5bCHF 155.5bCHF 22.2b23.4x22.3x3.2x
Fri, 29 Sep 2023CHF 533.9bCHF 146.1bCHF 21.3b31.6x25.1x3.7x
Sun, 27 Aug 2023CHF 544.2bCHF 144.2bCHF 21.1b29.3x25.8x3.8x
Tue, 25 Jul 2023CHF 559.5bCHF 146.1bCHF 22.5b35.6x24.9x3.8x
Thu, 22 Jun 2023CHF 562.9bCHF 147.2bCHF 22.2b34.4x25.3x3.8x
Sat, 20 May 2023CHF 584.3bCHF 147.3bCHF 22.2b35.3x26.3x4x
Price to Earnings Ratio

26.3x


Total Market Cap: CHF 584.3bTotal Earnings: CHF 22.2bTotal Revenue: CHF 147.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 25.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Swiss Healthcare 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 25.3x.
  • 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 7.7% 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 Market0.34%
Healthcare0.43%
Pharma1.34%
Healthtech0.56%
Healthcare Services0.26%
Biotech-1.32%
Life Sciences-1.38%
Medical Equipment-6.20%
Industry PE
  • Investors are most optimistic about the Life Sciences industry, which is trading close to its 3-year average PE ratio of 46.2x.
    • Analysts are expecting annual earnings growth of 19.2%, which is higher than its past year's earnings growth of 14.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 33% 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 5.4% 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
NOVN NovartisCHF 116.801.0%
+CHF 2.2b		30.7%PE21.1x
YPSN Ypsomed HoldingCHF 298.406.9%
+CHF 262.0m		-16.2%PE21x
SDZ Sandoz GroupCHF 67.760.8%
+CHF 242.3m		78.4%PE41x
IDIA IdorsiaCHF 4.5825.0%
+CHF 233.6m		251.5%PS5.3x
DESN Dottikon ES HoldingCHF 367.001.2%
+CHF 62.2m		79.9%PE41.9x

Latest News

ROP
CHF 320.00
Roche Holding
7D
-0.6%
1Y
25.7%
New Narrative • May 12

Roche is a cash-generating, defensive large-cap pharma, with upside driven by pipeline execution.

Investment Memo – Roche Holding AG (Pharmaceutical Division / “Roche Pharma”) 1. Executive Summary Roche is a leading global pharmaceutical and diagnostics company with a strong focus on oncology, immunology, neuroscience, and rare diseases.
NWRN
CHF 14.44
Newron Pharmaceuticals
7D
4.6%
1Y
77.6%
New Narrative • May 10

Still A Binary Phase III Bet on Evenamide

Rating: Speculative Buy / Clinical-event driven Style: Small-cap biotech with one dominant value driver Core debate: Is Newron an underappreciated CNS biotech on the verge of a value inflection with evenamide, or is it still a one-asset, high-risk Phase III story where financing and trial execution dominate everything else? Executive view Newron is now essentially an evenamide company.
IDIA
CHF 4.58
Idorsia
7D
25.0%
1Y
251.5%
NOVN
CHF 116.80
Novartis
7D
1.0%
1Y
30.7%
ALC
CHF 49.61
Alcon
7D
-4.3%
1Y
-32.2%
SANN
CHF 17.60
Santhera Pharmaceuticals Holding
7D
6.7%
1Y
36.9%
LONN
CHF 474.20
Lonza Group
7D
-3.9%
1Y
-16.9%
SOON
CHF 174.50
Sonova Holding
7D
-4.6%
1Y
-35.9%
Narrative Update • May 03

SOON: Portfolio Shift And Retail Expansion May Support Higher P E Over Time

Analysts have trimmed the blended fair value estimate for Sonova to about CHF 216 from roughly CHF 227. This reflects lower price targets from several banks alongside updated assumptions for slightly slower revenue growth, a marginally higher discount rate and a modest tweak to future P/E and margin expectations.
GALD
CHF 158.35
Galderma Group
7D
-7.4%
1Y
61.6%
YPSN
CHF 298.40
Ypsomed Holding
7D
6.9%
1Y
-16.2%
Narrative Update • May 01

YPSN: Share Buyback And Recent Upgrade Will Support Long Term Upside

Analysts have slightly adjusted their view on Ypsomed Holding, trimming the fair value estimate from CHF 314.70 to CHF 309.85 as they factor in updated assumptions for discount rates, revenue growth, profit margins and future P/E, reflected in part by a recent upgrade from Barclays. Analyst Commentary Even with the fair value estimate only slightly adjusted, some readers may want to pay close attention to where analysts see potential pressure on the story, especially around valuation and execution against expectations.
SDZ
CHF 67.76
Sandoz Group
7D
0.8%
1Y
78.4%
Narrative Update • May 01

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

The updated analyst price target for Sandoz Group has been revised by approximately CHF 1 higher, reflecting modestly adjusted assumptions around fair value, revenue growth, profit margins and future P/E as analysts balance recent target changes and rating shifts across major banks. Analyst Commentary Recent Street research around Sandoz Group shows a mix of optimism on the company’s long term potential and caution on how current pricing and expectations line up with execution risks.
STMN
CHF 83.54
Straumann Holding
7D
-4.7%
1Y
-26.0%
Narrative Update • May 01

STMN: Higher Future P/E Assumptions Will Support Confidence In Execution Potential

Straumann's updated analyst price target holds around CHF 123, with recent small CHF 1 to CHF 3 adjustments from different banks reflecting analysts' mixed views on future growth, profit margins, and the appropriate P/E level for the shares. Analyst Commentary Recent Street research shows a mix of views on Straumann, with price targets clustering around CHF 79 to CHF 123 and opinions split on whether the current P/E is justified.
BANB
CHF 76.80
Bachem Holding
7D
-5.3%
1Y
44.8%
Narrative Update • May 01

BANB: Future Earnings Execution Is Expected To Support CHF 80 Upside Potential

Analysts have nudged their price target on Bachem Holding slightly higher, with recent Street research indicating a CHF 5 increase from both Barclays and Deutsche Bank to CHF 80, supported by updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts see the move to a CHF 80 target as aligned with their updated view on fair value, suggesting that current assumptions on growth and margins justify a higher valuation anchor.
MOVE
CHF 135.40
Medacta Group
7D
-5.7%
1Y
-3.7%
KURN
CHF 20.70
Kuros Biosciences
7D
1.4%
1Y
-14.1%
DESN
CHF 367.00
Dottikon ES Holding
7D
1.2%
1Y
79.9%