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Swiss (SMI) Medical Equipment Industry Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies10
  • 7D-3.3%
  • 3M2.8%
  • 1Y-19.9%
  • YTD-0.2%

Over the last 7 days, the Medical Equipment industry has remained flat, although notably Medartis Holding gained 5.7%. As for the longer term, the industry has declined 17% in the last year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

Has the Swiss Medical Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 Jan 2026CHF 68.7bCHF 17.2bCHF 2.1b24.4x33x4x
Thu, 18 Dec 2025CHF 68.4bCHF 17.2bCHF 2.1b23.6x32.9x4x
Sat, 15 Nov 2025CHF 68.2bCHF 17.2bCHF 2.0b34.6x34.3x4x
Mon, 13 Oct 2025CHF 65.3bCHF 17.1bCHF 2.0b32.4x32.4x3.8x
Wed, 10 Sep 2025CHF 71.6bCHF 17.1bCHF 2.0b33.5x35.5x4.2x
Fri, 08 Aug 2025CHF 74.4bCHF 17.1bCHF 2.1b35.7x34.8x4.4x
Sun, 06 Jul 2025CHF 76.4bCHF 17.0bCHF 2.1b36.7x35.8x4.5x
Tue, 03 Jun 2025CHF 77.2bCHF 17.2bCHF 2.2b36.3x35.8x4.5x
Thu, 01 May 2025CHF 80.6bCHF 17.0bCHF 2.1b35.1x38.5x4.7x
Sat, 29 Mar 2025CHF 84.8bCHF 17.5bCHF 2.2b37x39.4x4.8x
Mon, 24 Feb 2025CHF 88.8bCHF 17.6bCHF 2.3b38.6x38.7x5x
Wed, 22 Jan 2025CHF 87.8bCHF 17.8bCHF 2.1b37.3x41.1x4.9x
Fri, 20 Dec 2024CHF 82.3bCHF 17.7bCHF 2.1b35.9x38.8x4.7x
Sun, 17 Nov 2024CHF 83.1bCHF 17.5bCHF 2.1b36x38.7x4.7x
Tue, 15 Oct 2024CHF 91.0bCHF 17.0bCHF 2.1b43.4x44.1x5.3x
Thu, 12 Sep 2024CHF 88.1bCHF 16.9bCHF 2.0b43.4x43x5.2x
Sat, 10 Aug 2024CHF 85.0bCHF 16.9bCHF 1.9b43.9x44.2x5x
Mon, 08 Jul 2024CHF 86.0bCHF 17.2bCHF 2.0b47.4x43.9x5x
Wed, 05 Jun 2024CHF 85.5bCHF 17.2bCHF 2.0b48.1x43.8x5x
Fri, 03 May 2024CHF 79.1bCHF 17.3bCHF 1.9b44.2x41.6x4.6x
Sun, 31 Mar 2024CHF 85.8bCHF 17.2bCHF 1.9b47.4x45.3x5x
Tue, 27 Feb 2024CHF 85.9bCHF 16.8bCHF 1.6b54.3x52.2x5.1x
Thu, 25 Jan 2024CHF 79.8bCHF 16.6bCHF 1.6b54.6x48.4x4.8x
Sat, 23 Dec 2023CHF 80.6bCHF 16.5bCHF 1.6b54.6x49x4.9x
Mon, 20 Nov 2023CHF 72.8bCHF 16.9bCHF 1.7b48.4x43.2x4.3x
Wed, 18 Oct 2023CHF 74.6bCHF 16.9bCHF 1.6b48.3x46.3x4.4x
Fri, 15 Sep 2023CHF 79.4bCHF 16.8bCHF 1.6b54.6x49.4x4.7x
Sun, 13 Aug 2023CHF 81.0bCHF 16.4bCHF 1.6b51.7x49.3x4.9x
Tue, 11 Jul 2023CHF 80.7bCHF 16.6bCHF 1.7b50.5x48.8x4.9x
Thu, 08 Jun 2023CHF 79.8bCHF 16.8bCHF 1.7b49.6x48.1x4.8x
Sat, 06 May 2023CHF 80.6bCHF 16.3bCHF 1.6b52.1x49.5x4.9x
Mon, 03 Apr 2023CHF 77.5bCHF 16.5bCHF 1.6b43.1x47.4x4.7x
Wed, 01 Mar 2023CHF 73.1bCHF 16.7bCHF 1.6b43.4x46.9x4.4x
Fri, 27 Jan 2023CHF 75.6bCHF 16.5bCHF 1.9b37.2x40.7x4.6x
Price to Earnings Ratio

40.7x


Total Market Cap: CHF 75.6bTotal Earnings: CHF 1.9bTotal Revenue: CHF 16.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Medical Equipment Industry Price to Earnings3Y Average 42.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Swiss Medical Equipment 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 33.9x which is lower than its 3-year average PE of 42.2x.
  • The 3-year average PS ratio of 4.7x is higher than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 3.9% 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 industry?

CH Market-0.79%
Healthcare0.28%
Medical Equipment-3.27%
Medical Equipment-1.53%
Medical Supplies-4.87%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 59.2x.
    • Analysts expect its future annual earnings growth (11.9%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading close to its 3-year average of 35.9x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 7.8% per year.
  • In contrast, the Medical Supplies industry is expected to see its earnings grow by 12% 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
MED Medartis HoldingCHF 92.205.7%
+CHF 62.2m		37.6%PS4.9x
MEDX medmixCHF 11.841.5%
+CHF 7.3m		4.2%PS1x

Latest News

CLTN
CHF 52.80
COLTENE Holding
7D
-5.2%
1Y
-2.9%
MED
CHF 92.20
Medartis Holding
7D
5.7%
1Y
37.6%
STMN
CHF 97.28
Straumann Holding
7D
-3.5%
1Y
-22.0%
MEDX
CHF 11.84
medmix
7D
1.5%
1Y
4.2%

MEDX: Higher Profitability Assumptions Will Support Future Upside Potential

Analysts have lowered their price target on medmix from €19.00 to €17.50, citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E expectations. Valuation Changes Fair Value Estimate: reduced from €19.00 to €17.50, a moderate cut to the implied upside for the shares.
ALC
CHF 61.18
Alcon
7D
-5.0%
1Y
-21.5%

ALC: Share Repurchases And Higher P/E Assumptions Will Support Future Upside

Analysts have nudged their price target on Alcon higher by roughly US$0.26, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as key drivers behind the revision. What's in the News Alcon reported impairments of property, plant and equipment and intangible assets of US$2 million for the quarter ended September 30, 2025 (Key Developments).
MOVE
CHF 164.80
Medacta Group
7D
-0.4%
1Y
49.8%

MOVE: Steady Margins And Refined Assumptions Will Support Gradual Performance

Analysts have nudged their price target on Medacta Group slightly higher to reflect a modestly lower discount rate and a small refinement in assumed future P/E. This suggests a fine tuning of their valuation rather than a major shift in view.
YPSN
CHF 330.50
Ypsomed Holding
7D
-4.1%
1Y
-5.3%

YPSN: Drug Delivery Pipeline And Capacity Expansion Will Drive Medium-Term Upside

Analysts have maintained their price target for Ypsomed Holding at CHF 475.00. The latest update reflects only slight adjustments to assumptions around the discount rate, revenue growth, profit margin and future P/E, rather than a change in their overall view.
METN
CHF 812.00
Metall Zug
7D
-2.6%
1Y
-20.4%

Metall Zug (VTX:METN) Is Making Moderate Use Of Debt

Nov 29
Metall Zug (VTX:METN) Is Making Moderate Use Of Debt
VBSN
CHF 142.50
IVF Hartmann Holding
7D
-1.0%
1Y
-6.3%