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Swiss (SMI) Medical Equipment Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies10
  • 7D8.4%
  • 3M-9.0%
  • 1Y-23.0%
  • YTD-10.1%

Sonova Holding is up 16%, leading the way for the Medical Equipment industry, which has gained 5.7%. However, the industry is down 25% over the past year. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026CHF 61.7bCHF 17.3bCHF 1.9b33.2x33.3x3.6x
Sat, 18 Apr 2026CHF 66.9bCHF 17.3bCHF 2.0b37x34.2x3.9x
Mon, 16 Mar 2026CHF 63.4bCHF 17.3bCHF 2.0b29.2x32.4x3.7x
Wed, 11 Feb 2026CHF 68.0bCHF 16.9bCHF 2.0b23.5x33.2x4x
Fri, 09 Jan 2026CHF 70.9bCHF 17.3bCHF 2.1b24.2x34.1x4.1x
Sun, 07 Dec 2025CHF 68.8bCHF 17.3bCHF 2.1b23.2x33x4x
Tue, 04 Nov 2025CHF 67.3bCHF 17.2bCHF 2.0b33.6x33.3x3.9x
Thu, 02 Oct 2025CHF 65.6bCHF 17.1bCHF 2.0b32x32.6x3.8x
Sat, 30 Aug 2025CHF 71.2bCHF 17.2bCHF 2.1b30.3x34.5x4.1x
Mon, 28 Jul 2025CHF 78.8bCHF 17.0bCHF 2.1b38.1x37.1x4.7x
Wed, 25 Jun 2025CHF 76.5bCHF 17.1bCHF 2.1b36.3x35.7x4.5x
Fri, 23 May 2025CHF 79.0bCHF 17.3bCHF 2.2b37.4x36.4x4.6x
Sun, 20 Apr 2025CHF 76.2bCHF 16.9bCHF 2.1b33.8x36.5x4.5x
Tue, 18 Mar 2025CHF 83.1bCHF 17.6bCHF 2.2b40.1x38.6x4.7x
Thu, 13 Feb 2025CHF 87.9bCHF 17.8bCHF 2.1b37.7x41.1x4.9x
Sat, 11 Jan 2025CHF 84.3bCHF 17.9bCHF 2.1b35.7x39.3x4.7x
Mon, 09 Dec 2024CHF 83.6bCHF 17.5bCHF 2.1b37.1x39.8x4.8x
Wed, 06 Nov 2024CHF 87.7bCHF 17.1bCHF 2.1b41.6x42.3x5.1x
Fri, 04 Oct 2024CHF 92.6bCHF 17.0bCHF 2.1b44.2x44.9x5.5x
Sun, 01 Sep 2024CHF 89.1bCHF 16.9bCHF 2.0b43.4x43.5x5.3x
Tue, 30 Jul 2024CHF 85.4bCHF 17.1bCHF 1.9b44.2x43.8x5x
Thu, 27 Jun 2024CHF 84.7bCHF 17.2bCHF 2.0b48.5x43.2x4.9x
Sat, 25 May 2024CHF 87.6bCHF 17.4bCHF 2.0b47.1x44.2x5x
Mon, 22 Apr 2024CHF 82.1bCHF 17.3bCHF 1.9b44.2x43.2x4.8x
Wed, 20 Mar 2024CHF 85.9bCHF 17.0bCHF 1.9b48.1x45.8x5x
Fri, 16 Feb 2024CHF 83.7bCHF 16.8bCHF 1.7b55.6x50.5x5x
Sun, 14 Jan 2024CHF 80.6bCHF 16.5bCHF 1.6b53x49x4.9x
Tue, 12 Dec 2023CHF 75.1bCHF 16.8bCHF 1.7b47.9x45.3x4.5x
Thu, 09 Nov 2023CHF 72.7bCHF 16.9bCHF 1.6b47.8x45.1x4.3x
Sat, 07 Oct 2023CHF 74.0bCHF 16.9bCHF 1.6b47.7x45.8x4.4x
Mon, 04 Sep 2023CHF 80.7bCHF 16.7bCHF 1.6b56.1x50.4x4.8x
Wed, 02 Aug 2023CHF 83.3bCHF 16.5bCHF 1.6b52.8x50.6x5.1x
Fri, 30 Jun 2023CHF 81.5bCHF 16.7bCHF 1.7b51.6x49.1x4.9x
Sun, 28 May 2023CHF 80.0bCHF 16.7bCHF 1.7b49.9x48.2x4.8x
Price to Earnings Ratio

48.2x


Total Market Cap: CHF 80.0bTotal Earnings: CHF 1.7bTotal Revenue: CHF 16.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Medical Equipment Industry Price to Earnings3Y Average 40.8x202420252026
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 32.7x which is lower than its 3-year average PE of 40.8x.
  • The 3-year average PS ratio of 4.6x is higher than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 3.8% 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 Market1.38%
Healthcare2.40%
Medical Equipment8.44%
Medical Equipment9.56%
Medical Supplies7.36%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 53.4x.
    • Analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings decline of 18.4% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 35.8x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 18% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 15% 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
SOON Sonova HoldingCHF 203.0016.3%
+CHF 1.7b		-27.0%PE22.5x
ALC AlconCHF 52.986.8%
+CHF 1.6b		-27.6%PE40.1x
STMN Straumann HoldingCHF 88.225.6%
+CHF 746.2m		-19.4%PE39.4x
YPSN Ypsomed HoldingCHF 332.8011.5%
+CHF 469.4m		-11.1%PE23.4x
MOVE Medacta GroupCHF 145.607.5%
+CHF 203.1m		3.9%PE33.2x

Latest News

SOON
CHF 203.00
Sonova Holding
7D
16.3%
1Y
-27.0%
ALC
CHF 52.98
Alcon
7D
6.8%
1Y
-27.6%
Narrative Update • May 19

ALC: Share Buybacks And New Eye Care Launches Will Support Upside

Analysts now estimate Alcon's fair value at CHF 88.89, reduced from CHF 92.41, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News The Board of Directors authorized a share repurchase program of up to US$1,500 million.
MEDX
CHF 8.76
medmix
7D
3.1%
1Y
-13.8%
Narrative Update • May 17

MEDX: Dividend Initiation And Stable Assumptions Will Support Future Upside Potential

Analysts have kept their CHF 15.97 price target on medmix unchanged, citing only modest tweaks to their discount rate and future P/E assumptions rather than any major shift in the company story. What's in the News medmix AG announced an annual dividend of CHF 0.10 per share.
YPSN
CHF 332.80
Ypsomed Holding
7D
11.5%
1Y
-11.1%
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.
STMN
CHF 88.22
Straumann Holding
7D
5.6%
1Y
-19.4%
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.
MOVE
CHF 145.60
Medacta Group
7D
7.5%
1Y
3.9%
MED
CHF 78.60
Medartis Holding
7D
2.5%
1Y
1.4%
Narrative Update • Apr 28

MED: Slightly Higher Margins And Stable Outlook Will Support Future Upside

Analysts have kept their CHF price target for Medartis Holding broadly unchanged near CHF 96, citing slightly higher assumed revenue growth, a modestly stronger profit margin, and a marginally lower future P/E multiple in their refreshed models. Valuation Changes Fair Value: CHF 95.97 is unchanged in the refreshed model.
CLTN
CHF 49.90
COLTENE Holding
7D
4.0%
1Y
-23.0%
METN
CHF 700.00
Metall Zug
7D
-0.3%
1Y
-34.3%