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Swiss (SMI) Medical Equipment Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies10
  • 7D-5.8%
  • 3M-4.2%
  • 1Y-23.0%
  • YTD-5.6%

Over the last 7 days, the Medical Equipment industry has dropped 5.8%, driven by a pullback from Alcon of 6.1%. However, the industry is down 23% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026CHF 64.8bCHF 17.2bCHF 1.9b29.2x33.3x3.8x
Wed, 04 Feb 2026CHF 66.3bCHF 17.0bCHF 2.1b23.5x32.3x3.9x
Fri, 02 Jan 2026CHF 68.5bCHF 17.2bCHF 2.1b23.7x33x4x
Sun, 30 Nov 2025CHF 68.0bCHF 17.3bCHF 2.1b23.2x32.6x3.9x
Tue, 28 Oct 2025CHF 67.4bCHF 17.1bCHF 2.0b33.3x33.5x3.9x
Thu, 25 Sep 2025CHF 68.0bCHF 17.1bCHF 2.0b33.5x33.8x4x
Sat, 23 Aug 2025CHF 72.8bCHF 17.2bCHF 2.1b30.7x35.3x4.2x
Mon, 21 Jul 2025CHF 77.0bCHF 17.0bCHF 2.1b36.8x36x4.5x
Wed, 18 Jun 2025CHF 76.8bCHF 17.2bCHF 2.2b36.4x35.6x4.5x
Fri, 16 May 2025CHF 80.7bCHF 17.2bCHF 2.2b38.7x37.3x4.7x
Sun, 13 Apr 2025CHF 73.8bCHF 16.9bCHF 2.1b33.2x35.4x4.4x
Tue, 11 Mar 2025CHF 84.2bCHF 17.6bCHF 2.2b40.7x39.1x4.8x
Thu, 06 Feb 2025CHF 89.4bCHF 17.7bCHF 2.1b39.6x42.1x5x
Sat, 04 Jan 2025CHF 82.6bCHF 17.8bCHF 2.1b35.8x38.7x4.6x
Mon, 02 Dec 2024CHF 84.3bCHF 17.5bCHF 2.1b37.9x40.1x4.8x
Wed, 30 Oct 2024CHF 89.3bCHF 17.1bCHF 2.1b42.5x43x5.2x
Fri, 27 Sep 2024CHF 91.5bCHF 16.9bCHF 2.1b44.4x44.6x5.4x
Sun, 25 Aug 2024CHF 89.0bCHF 16.9bCHF 2.0b43.2x43.5x5.3x
Tue, 23 Jul 2024CHF 84.6bCHF 17.2bCHF 2.0b42.6x43.4x4.9x
Thu, 20 Jun 2024CHF 82.6bCHF 17.1bCHF 1.9b48x42.4x4.8x
Sat, 18 May 2024CHF 86.1bCHF 17.3bCHF 2.0b46.6x43.8x5x
Mon, 15 Apr 2024CHF 84.5bCHF 17.3bCHF 1.9b45.7x44.3x4.9x
Wed, 13 Mar 2024CHF 88.7bCHF 16.9bCHF 1.9b44.6x47.6x5.3x
Fri, 09 Feb 2024CHF 80.8bCHF 16.7bCHF 1.7b55.7x48.9x4.8x
Sun, 07 Jan 2024CHF 77.6bCHF 16.5bCHF 1.6b52.8x47.3x4.7x
Tue, 05 Dec 2023CHF 74.8bCHF 16.7bCHF 1.7b48.3x45.2x4.5x
Thu, 02 Nov 2023CHF 70.2bCHF 17.0bCHF 1.6b44.9x43.4x4.1x
Sat, 30 Sep 2023CHF 75.9bCHF 17.0bCHF 1.6b48x47x4.5x
Mon, 28 Aug 2023CHF 80.7bCHF 16.7bCHF 1.6b56x50.4x4.8x
Wed, 26 Jul 2023CHF 82.0bCHF 16.4bCHF 1.6b51.7x49.9x5x
Fri, 23 Jun 2023CHF 80.3bCHF 16.7bCHF 1.7b50.2x48.4x4.8x
Sun, 21 May 2023CHF 82.5bCHF 16.7bCHF 1.6b51.6x50.4x4.9x
Tue, 18 Apr 2023CHF 78.3bCHF 16.4bCHF 1.6b48.4x48x4.8x
Thu, 16 Mar 2023CHF 70.8bCHF 16.7bCHF 1.6b43.7x43.1x4.2x
Price to Earnings Ratio

43.1x


Total Market Cap: CHF 70.8bTotal Earnings: CHF 1.6bTotal Revenue: CHF 16.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Medical Equipment Industry Price to Earnings3Y Average 41.8x202420252026
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 33.3x which is lower than its 3-year average PE of 41.9x.
  • The 3-year average PS ratio of 4.7x is higher than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 7.8% 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-5.66%
Healthcare-5.65%
Medical Equipment-5.83%
Medical Supplies-5.27%
Medical Equipment-6.47%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 57.7x.
    • Analysts are expecting annual earnings growth of 13.5%, which is higher than its past year's earnings growth of 11.9% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 36.0x.
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 14% 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
VBSN IVF Hartmann HoldingCHF 142.002.9%
+CHF 9.5m		1.4%PE17.8x

Latest News

CLTN
CHF 50.90
COLTENE Holding
7D
-11.2%
1Y
-4.7%
ALC
CHF 62.80
Alcon
7D
-6.1%
1Y
-22.0%

ALC: Share Repurchases And New Contact Lenses Will Support Upside

Analysts have reduced their Alcon price target to CHF 92.37 from CHF 93.18, reflecting updated views on a slightly higher discount rate, modestly lower revenue growth assumptions, improved profit margin expectations and a lower future P/E multiple. What's in the News Alcon announced the U.S. launch of TOTAL30 Multifocal for Astigmatism, described as the only multifocal toric contact lens with Water Gradient Technology and aimed at patients whose vision needs are shifting toward presbyopia, with lenses now available nationwide through Eye Care Professionals (company announcement).
SOON
CHF 191.05
Sonova Holding
7D
-5.4%
1Y
-30.4%

SOON: Slightly Higher Discount Rate Will Eventually Pressure Earnings Multiple

Analysts kept their CHF 170.00 price target for Sonova Holding unchanged, citing only modest tweaks to their long term assumptions on discount rate, revenue growth, profit margin and future P/E that did not materially affect their overall valuation view. Valuation Changes Fair Value: CHF 170.00 remains unchanged, with no adjustment to the overall valuation level.
MEDX
CHF 9.22
medmix
7D
-2.4%
1Y
-15.3%
YPSN
CHF 271.50
Ypsomed Holding
7D
-1.3%
1Y
-14.2%

YPSN: Large Volume Injection Collaboration Will Support Future Earnings Resilience

Analysts have trimmed their price target for Ypsomed Holding slightly, from CHF 407.44 to CHF 403.00. This reflects modest adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
VBSN
CHF 142.00
IVF Hartmann Holding
7D
2.9%
1Y
1.4%
STMN
CHF 84.78
Straumann Holding
7D
-8.4%
1Y
-28.0%

STMN: Future Margin Delivery And Uplifted Growth Assumptions Support Renewed Optimism

The analyst price target for Straumann has been reduced by about CHF 3 to reflect slightly higher discount assumptions, a lower fair value estimate of about CHF 107.78 versus CHF 111.22, and mixed Street targets ranging from CHF 79 to CHF 123, even as analysts factor in updated views on growth, margins and future P/E. Analyst Commentary Recent Street research on Straumann Holding reflects a split view on upside potential and execution risk, with price targets clustering between CHF 79 and CHF 123 and ratings ranging from Underweight to Buy and Overweight.
MOVE
CHF 156.80
Medacta Group
7D
-1.6%
1Y
18.8%
MED
CHF 83.80
Medartis Holding
7D
-8.9%
1Y
17.0%

MED: Updated Assumptions Will Support A Balanced Yet Cautious Outlook

Analysts have slightly adjusted their CHF price target on Medartis Holding, reflecting updated assumptions that combine a similar fair value estimate with modest changes to the discount rate, expected revenue growth, profit margin, and future P/E expectations. Valuation Changes Fair Value: CHF 97.63 remains unchanged.