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Swiss (SMI) Market Analysis & Valuation

UpdatedAug 13, 2026
DataAggregated Company Financials
Companies206
  • 7D-0.5%
  • 3M8.3%
  • 1Y17.7%
  • YTD8.4%

The market has been flat in the last week, however the Materials sector is down 3.0%. Meanwhile, the market is actually up 18% over the past year. Looking forward, earnings are forecast to grow by 12% annually.

Market Valuation and Performance

Has the Swiss Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Aug 2026CHF 2.1tCHF 792.3bCHF 104.3b20.1x20.6x2.7x
Sat, 11 Jul 2026CHF 2.1tCHF 781.2bCHF 105.1b20.8x20x2.7x
Mon, 08 Jun 2026CHF 2.0tCHF 776.7bCHF 104.2b20.4x19.1x2.6x
Wed, 06 May 2026CHF 2.0tCHF 773.3bCHF 103.2b20.4x19.1x2.5x
Fri, 03 Apr 2026CHF 1.9tCHF 783.2bCHF 109.9b20.4x17.6x2.5x
Sun, 01 Mar 2026CHF 2.1tCHF 788.0bCHF 116.2b20.9x17.8x2.6x
Tue, 27 Jan 2026CHF 2.0tCHF 791.1bCHF 114.1b20.8x17.5x2.5x
Thu, 25 Dec 2025CHF 2.0tCHF 795.5bCHF 114.1b20.2x17.4x2.5x
Sat, 22 Nov 2025CHF 1.9tCHF 807.9bCHF 115.3b19x16.5x2.4x
Mon, 20 Oct 2025CHF 1.9tCHF 773.4bCHF 90.3b19.2x21.1x2.5x
Wed, 17 Sep 2025CHF 1.8tCHF 771.0bCHF 89.6b19.7x20.5x2.4x
Fri, 15 Aug 2025CHF 1.8tCHF 777.3bCHF 90.3b21.1x20.4x2.4x
Sun, 13 Jul 2025CHF 1.8tCHF 784.6bCHF 106.7b20.4x17x2.3x
Tue, 10 Jun 2025CHF 1.8tCHF 785.0bCHF 106.4b20.3x17.4x2.4x
Thu, 08 May 2025CHF 1.8tCHF 783.9bCHF 106.0b19.7x16.9x2.3x
Sat, 05 Apr 2025CHF 1.7tCHF 843.7bCHF 158.3b17.9x10.8x2x
Mon, 03 Mar 2025CHF 1.9tCHF 811.3bCHF 117.6b20.8x16.3x2.4x
Wed, 29 Jan 2025CHF 1.8tCHF 817.4bCHF 117.8b21.5x15.7x2.3x
Fri, 27 Dec 2024CHF 1.7tCHF 815.4bCHF 117.5b20.7x14.6x2.1x
Sun, 24 Nov 2024CHF 1.7tCHF 813.1bCHF 117.3b19.9x14.9x2.1x
Tue, 22 Oct 2024CHF 1.8tCHF 806.2bCHF 114.4b21.5x16x2.3x
Thu, 19 Sep 2024CHF 1.8tCHF 801.0bCHF 113.9b21.1x15.7x2.2x
Sat, 17 Aug 2024CHF 1.8tCHF 805.9bCHF 114.1b21.7x16x2.3x
Mon, 15 Jul 2024CHF 1.9tCHF 801.1bCHF 125.5b21.8x14.7x2.3x
Wed, 12 Jun 2024CHF 1.8tCHF 801.3bCHF 125.7b21.9x14.4x2.3x
Fri, 10 May 2024CHF 1.8tCHF 802.5bCHF 126.1b21.2x13.9x2.2x
Sun, 07 Apr 2024CHF 1.8tCHF 766.9bCHF 97.0b21.3x18.1x2.3x
Tue, 05 Mar 2024CHF 1.7tCHF 785.7bCHF 111.1b20.6x15.5x2.2x
Thu, 01 Feb 2024CHF 1.7tCHF 764.4bCHF 109.6b18x15.5x2.2x
Sat, 30 Dec 2023CHF 1.7tCHF 758.7bCHF 108.9b18.4x15.4x2.2x
Mon, 27 Nov 2023CHF 1.6tCHF 771.5bCHF 111.2b18x14.7x2.1x
Wed, 25 Oct 2023CHF 1.6tCHF 760.1bCHF 100.4b17.6x15.5x2.1x
Fri, 22 Sep 2023CHF 1.7tCHF 753.7bCHF 99.9b18.4x16.7x2.2x
Sun, 20 Aug 2023CHF 1.6tCHF 747.6bCHF 75.3b17.6x21.8x2.2x
Price to Earnings Ratio

21.8x


Total Market Cap: CHF 1.6tTotal Earnings: CHF 75.3bTotal Revenue: CHF 747.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Market Price to Earnings3Y Average 16.7x202420252026
Current Market PE
  • Investors are optimistic on the Swiss market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 20.6x which is higher than its 3-year average PE of 16.7x.
Past Earnings Growth
  • The earnings for Swiss listed companies have grown 11% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Swiss Market?

CH Market-0.50%
Telecom2.89%
Healthcare0.44%
Tech0.23%
Industrials0.18%
Real Estate-0.24%
Financials-0.77%
Utilities-1.12%
Consumer Discretionary-1.25%
Consumer Staples-2.43%
Materials-3.01%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 27.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3% which is higher than its past year's earnings decline of 5.7% per year.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 7.0x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 5.7% per year.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 7.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ABBN ABBCHF 83.481.4%
+CHF 2.1b		55.0%PE37.4xIndustrials
SDZ Sandoz GroupCHF 72.646.6%
+CHF 1.9b		51.9%PE59.8xHealthcare
UBSG UBS GroupCHF 43.650.7%
+CHF 979.8m		37.0%PE17.3xFinancials
ALC AlconCHF 59.224.4%
+CHF 954.9m		-15.5%PE54.7xHealthcare
SCMN SwisscomCHF 633.502.8%
+CHF 906.5m		8.7%PE25xTelecom
See more

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Latest News

SDZ
CHF 72.64
Sandoz Group
7D
6.6%
1Y
51.9%
ALC
CHF 59.22
Alcon
7D
4.4%
1Y
-15.5%
Narrative Update • Aug 12

ALC: Rich Multiple Will Limit Upside Despite Raised 2026 Earnings Outlook

Analysts have trimmed their Alcon price target by around CHF 2 per share, reflecting slightly more cautious assumptions on revenue growth and valuation multiples, partly offset by marginally firmer profit margin expectations and a small adjustment to the discount rate. What’s in the News for Alcon Alcon reported Q2 results that were ahead of earlier expectations, with revenue up 8% year over year and balanced growth from both the surgical and vision care segments.
GALD
CHF 176.00
Galderma Group
7D
-1.4%
1Y
34.8%
AMRZ
CHF 38.15
Amrize
7D
-10.3%
1Y
-7.6%
SCMN
CHF 633.50
Swisscom
7D
2.8%
1Y
8.7%
Narrative Update • Aug 11

SCMN: Fraud Consortium Benefits Will Offset Italian And Swiss Market Pressures

The analyst price target for Swisscom has been revised higher to CHF 620 from CHF 560. Analysts point to updated assumptions around fair value, discount rate, revenue trajectory, profit margins and future P/E to support the new level.
ROP
CHF 365.50
Roche Holding
7D
0.2%
1Y
46.4%
Narrative Update • Aug 10

ROP: Pipeline Partnerships And Oncology Catalysts Will Shape Measured 2027 Outlook

Analysts have lifted their fair value estimate for Roche Holding to CHF 370.31 from CHF 359.22, citing a combination of visible growth, incremental pipeline contributions including giredestrant, and recent partnership activity. They view these factors as supporting revenue growth assumptions and profit margin resilience, despite a slightly higher discount rate and a modestly lower future P/E multiple.
ZURN
CHF 589.20
Zurich Insurance Group
7D
-3.0%
1Y
1.3%
ABBN
CHF 83.48
ABB
7D
1.4%
1Y
55.0%
UBSG
CHF 43.65
UBS Group
7D
0.7%
1Y
37.0%
UHR
CHF 193.25
Swatch Group
7D
4.3%
1Y
38.6%
Analysis Article • Jul 29

Swatch Group's (VTX:UHR) Weak Earnings May Only Reveal A Part Of The Whole Picture

Investors were disappointed by The Swatch Group AG's ( VTX:UHR ) latest earnings release. We did some further digging...
SGSN
CHF 94.26
SGS
7D
-3.6%
1Y
13.8%
Narrative Update • Jul 28

SGSN: Mixed Rating Revisions Will Shape A Measured CHF 100 Outlook

SGS sees its analyst price target revised higher from CHF 98.89 to CHF 100.95, reflecting recent target increases across the Street. Analysts point to updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as key drivers.
GIVN
CHF 3,280.00
Givaudan
7D
-3.6%
1Y
-1.6%
Narrative Update • Jul 27

GIVN: Premium Will Face Pressure If Sector Rotation Extends

The new analyst price target for Givaudan is set at CHF 2,886, up from CHF 2,800. It reflects updated assumptions on fair value, discount rate and long term growth, and sits within a wide CHF 2,886 to CHF 3,650 range of recent Street targets and mixed ratings from Underperform to Buy.
NESN
CHF 79.06
Nestlé
7D
-2.8%
1Y
9.5%
SOON
CHF 240.00
Sonova Holding
7D
3.1%
1Y
6.2%
Narrative Update • Jul 22

SOON: Mixed Rating Shifts And Dividend Outlook May Steady P E Over Time

The analyst price target for Sonova Holding has been raised from CHF 216.51 to CHF 221.83, as analysts cite relative valuation versus peers and indications of a possible growth inflection in recent sector research. Analyst Commentary Recent research on Sonova Holding shows a mix of optimism about potential growth and ongoing caution around valuation and execution, giving you a more balanced view of how the stock is being framed by the market.
CFR
CHF 193.70
Compagnie Financière Richemont
7D
-1.7%
1Y
47.0%
GEBN
CHF 546.40
Geberit
7D
-3.2%
1Y
-14.2%
Narrative Update • Jul 01

GEBN: Premium P/E And Share Buybacks Will Support Long Term Upside

Geberit’s updated analyst price target has shifted to CHF 694.20 from CHF 669.00, with analysts pointing to adjusted fair value inputs and recent Street research, including Citi’s cut to CHF 520 and a Neutral stance, as key drivers of the change. What’s in the News for Geberit Geberit North America has highlighted its enhanced Duofix installation system, which is designed to support faster installation, quieter operation and more resource efficient engineering for residential and commercial bathroom projects.