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Swiss (SMI) Healthcare Sector Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies34
  • 7D2.0%
  • 3M19.3%
  • 1Y14.3%
  • YTD6.7%

Over the last 7 days, the Healthcare industry has risen 2.0%, driven by gains from Novartis of 4.7%. This takes the industry's 12 month performance to a gain of 14%. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026CHF 707.2bCHF 152.5bCHF 27.9b33.2x25.4x4.6x
Tue, 06 Jan 2026CHF 681.9bCHF 154.4bCHF 24.8b30.2x27.5x4.4x
Thu, 04 Dec 2025CHF 669.5bCHF 155.0bCHF 24.9b28.3x26.9x4.3x
Sat, 01 Nov 2025CHF 603.1bCHF 155.2bCHF 24.9b32.5x24.2x3.9x
Mon, 29 Sep 2025CHF 587.0bCHF 153.7bCHF 24.2b32.2x24.2x3.8x
Wed, 27 Aug 2025CHF 611.1bCHF 154.1bCHF 24.3b34.6x25.1x4x
Fri, 25 Jul 2025CHF 608.4bCHF 151.7bCHF 22.9b31.1x26.6x4x
Sun, 22 Jun 2025CHF 580.8bCHF 151.5bCHF 22.5b30.2x25.8x3.8x
Tue, 20 May 2025CHF 575.1bCHF 152.5bCHF 22.7b32.5x25.3x3.8x
Thu, 17 Apr 2025CHF 544.6bCHF 149.6bCHF 21.7b25.8x25.1x3.6x
Sat, 15 Mar 2025CHF 618.1bCHF 155.1bCHF 22.5b31.2x27.5x4x
Mon, 10 Feb 2025CHF 628.4bCHF 156.3bCHF 22.5b29.9x28x4x
Wed, 08 Jan 2025CHF 584.4bCHF 152.8bCHF 24.6b29.3x23.8x3.8x
Fri, 06 Dec 2024CHF 571.4bCHF 150.7bCHF 24.2b28.8x23.6x3.8x
Sun, 03 Nov 2024CHF 602.1bCHF 149.8bCHF 24.1b29.8x25x4x
Tue, 01 Oct 2024CHF 608.5bCHF 147.1bCHF 22.3b32.7x27.2x4.1x
Thu, 29 Aug 2024CHF 625.1bCHF 146.7bCHF 22.2b32.6x28.1x4.3x
Sat, 27 Jul 2024CHF 615.0bCHF 149.1bCHF 22.6b35.3x27.3x4.1x
Mon, 24 Jun 2024CHF 573.1bCHF 148.7bCHF 22.7b35.8x25.3x3.9x
Wed, 22 May 2024CHF 562.8bCHF 146.2bCHF 22.9b33.5x24.5x3.9x
Fri, 19 Apr 2024CHF 535.1bCHF 145.1bCHF 22.3b34.4x23.9x3.7x
Sun, 17 Mar 2024CHF 534.3bCHF 143.3bCHF 22.1b37.3x24.2x3.7x
Tue, 13 Feb 2024CHF 515.2bCHF 142.4bCHF 22.3b32.6x23.1x3.6x
Thu, 11 Jan 2024CHF 545.7bCHF 151.3bCHF 21.8b27.4x25x3.6x
Sat, 09 Dec 2023CHF 521.5bCHF 153.5bCHF 22.0b25.5x23.7x3.4x
Mon, 06 Nov 2023CHF 501.6bCHF 154.7bCHF 22.1b23.4x22.7x3.2x
Wed, 04 Oct 2023CHF 530.8bCHF 146.3bCHF 21.3b31.7x24.9x3.6x
Fri, 01 Sep 2023CHF 546.2bCHF 144.2bCHF 21.1b29.7x25.9x3.8x
Sun, 30 Jul 2023CHF 558.6bCHF 146.3bCHF 22.5b36.8x24.9x3.8x
Tue, 27 Jun 2023CHF 558.7bCHF 147.1bCHF 22.2b33.8x25.1x3.8x
Thu, 25 May 2023CHF 579.2bCHF 147.7bCHF 22.3b34.4x26x3.9x
Sat, 22 Apr 2023CHF 588.1bCHF 146.4bCHF 22.3b33.9x26.3x4x
Mon, 20 Mar 2023CHF 531.8bCHF 148.4bCHF 22.6b30.8x23.6x3.6x
Wed, 15 Feb 2023CHF 548.1bCHF 147.8bCHF 22.7b32.7x24.1x3.7x
Price to Earnings Ratio

24.1x


Total Market Cap: CHF 548.1bTotal Earnings: CHF 22.7bTotal Revenue: CHF 147.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Healthcare Sector Price to Earnings3Y Average 25.4x202420252026
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 25.4x.
  • The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 7.0% 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 Market2.20%
Healthcare2.03%
Pharma2.70%
Healthcare Services2.15%
Biotech1.71%
Medical Equipment-0.78%
Life Sciences-1.66%
Healthtech-2.43%
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 29.4% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the Pharma industry, which is trading close to its 3-year average of 22.4x.
Forecasted Growth
  • Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 33% 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 5.2% 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 119.964.7%
+CHF 9.0b		23.9%PE21.1x
ROG Roche HoldingCHF 356.401.6%
+CHF 4.5b		23.3%PE22x
STMN Straumann HoldingCHF 99.607.0%
+CHF 1.0b		-21.2%PE37.1x
GALD Galderma GroupCHF 146.701.9%
+CHF 664.7m		26.8%PE118.8x
GALE GalenicaCHF 99.703.2%
+CHF 154.5m		21.9%PE25.8x

Latest News

NOVN
CHF 119.96
Novartis
7D
4.7%
1Y
23.9%
LONN
CHF 517.20
Lonza Group
7D
-1.5%
1Y
-14.3%
SOON
CHF 205.80
Sonova Holding
7D
-2.7%
1Y
-32.2%

SOON: Execution Risks And Margin Pressure Will Challenge Current Share Price

Analysts have reduced their fair value estimate for Sonova Holding to CHF 170 from CHF 189, citing updated assumptions for growth, margins, discount rate and future P/E, while weighing a mix of recent positive and cautious Street views on the stock. Analyst Commentary Recent Street views on Sonova are mixed, with some highlighting long term opportunities tied to its market position and technology, while others are flagging valuation and execution risks at current levels.
YPSN
CHF 293.00
Ypsomed Holding
7D
-4.1%
1Y
-20.7%

YPSN: Large Volume Autoinjector Partnership Will Drive Medium-Term Upside

Analysts are maintaining their price target for Ypsomed Holding at CHF 475.00. The steady view reflects updated assumptions around revenue growth, profit margins and the future P/E, which largely offset the modest adjustment in the discount rate.
BANB
CHF 66.90
Bachem Holding
7D
-4.4%
1Y
19.5%

BANB: Higher Fair Value Will Rely On Execution Of Existing Order Book

Analysts have raised their fair value estimate for Bachem Holding from CHF 100.00 to CHF 110.00, citing updated assumptions around revenue growth, profit margins and future P/E multiples that are in line with recent Street target changes, including the higher price target from RBC and the revised level from Barclays. Analyst Commentary Recent research updates around Bachem Holding give you a mixed but useful read on how the Street is thinking about valuation and execution.
SDZ
CHF 61.40
Sandoz Group
7D
0.4%
1Y
39.3%

SDZ: Elevated Expectations Will Confront Ongoing Execution And Manufacturing Setbacks

Analysts have raised their average price target on Sandoz Group by CHF 3 to CHF 60, citing updated assumptions for revenue growth, profit margins and future P/E, in line with recent target increases from several major banks. Analyst Commentary Recent Street research on Sandoz Group has largely focused on recalibrating price targets to reflect updated views on revenue growth, profitability and valuation multiples.
STMN
CHF 99.60
Straumann Holding
7D
7.0%
1Y
-21.2%

STMN: Elevated P/E Will Likely Expose Limited Upside From Current Levels

Analysts have adjusted their price targets for Straumann, with recent Street research pointing to mixed views on valuation. Updated assumptions around a fair value of about CHF 80.80, revenue growth of 7.59%, a profit margin of 21.02% and a future P/E of 21.74x help frame the revised outlook.
ROG
CHF 356.40
Roche Holding
7D
1.6%
1Y
23.3%

Roche Holding AG (VTX:ROG) Annual Results: Here's What Analysts Are Forecasting For This Year

Feb 03
Roche Holding AG (VTX:ROG) Annual Results: Here's What Analysts Are Forecasting For This Year
ALC
CHF 60.74
Alcon
7D
-2.7%
1Y
-26.2%
GALD
CHF 146.70
Galderma Group
7D
1.9%
1Y
26.8%

GALD: Higher Future P/E Assumptions Will Likely Pressure Shares Forward

Analysts have lifted their price target on Galderma Group to CHF 195 from CHF 155, citing updated assumptions that include higher fair value estimates, a slightly adjusted discount rate, revised revenue growth and profit margin expectations, and a higher future P/E multiple. Analyst Commentary The move to a CHF 195 price target is framed around updated valuation work, with higher assumed fair value, a revised discount rate, and adjusted revenue and margin assumptions.
DESN
CHF 359.50
Dottikon ES Holding
7D
-3.4%
1Y
68.4%
SKAN
CHF 55.70
SKAN Group
7D
-4.1%
1Y
-28.2%

Does This Valuation Of SKAN Group AG (VTX:SKAN) Imply Investors Are Overpaying?

Jan 31
Does This Valuation Of SKAN Group AG (VTX:SKAN) Imply Investors Are Overpaying?
SFZN
CHF 96.30
Siegfried Holding
7D
1.5%
1Y
-7.9%
GALE
CHF 99.70
Galenica
7D
3.2%
1Y
21.9%

GALE: Modest EBIT Guidance And M&A Synergies Will Limit Future Upside

Analysts have nudged their fair value estimate for Galenica up to €86.50 from €86.17. This reflects slightly updated assumptions on revenue growth, profit margins and future P/E expectations.
MOVE
CHF 153.80
Medacta Group
7D
-6.9%
1Y
14.4%

MOVE: Modest Assumption Tweaks And Firm Margins Will Underpin Gradual Performance

Analysts have raised their price target on Medacta Group to approximately CHF 178 from about CHF 167, citing slightly adjusted assumptions around the discount rate, revenue growth, profit margin, and a future P/E of roughly 35x in their updated models. Valuation Changes Fair Value: Updated model fair value moves from about CHF 166.69 to roughly CHF 178.20 per share.
BSLN
CHF 56.70
Basilea Pharmaceutica
7D
5.0%
1Y
40.7%