Swiss (SMI) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 03 Jun 2026	CHF 2.0t	CHF 773.2b	CHF 103.7b	20.4x	19.2x	2.6x
Fri, 01 May 2026	CHF 2.0t	CHF 772.9b	CHF 103.1b	20.4x	19.1x	2.6x
Sun, 29 Mar 2026	CHF 1.9t	CHF 782.6b	CHF 109.9b	19.7x	17.1x	2.4x
Tue, 24 Feb 2026	CHF 2.1t	CHF 793.8b	CHF 116.9b	20.4x	17.6x	2.6x
Thu, 22 Jan 2026	CHF 2.0t	CHF 796.9b	CHF 114.8b	20.4x	17.4x	2.5x
Sat, 20 Dec 2025	CHF 2.0t	CHF 797.8b	CHF 114.4b	20.2x	17.3x	2.5x
Mon, 17 Nov 2025	CHF 1.9t	CHF 799.5b	CHF 114.9b	19.5x	16.6x	2.4x
Wed, 15 Oct 2025	CHF 1.9t	CHF 775.5b	CHF 90.5b	19.5x	20.8x	2.4x
Fri, 12 Sep 2025	CHF 1.9t	CHF 773.9b	CHF 90.0b	19.5x	20.8x	2.4x
Sun, 10 Aug 2025	CHF 1.8t	CHF 777.3b	CHF 89.7b	20.8x	20.3x	2.3x
Tue, 08 Jul 2025	CHF 1.8t	CHF 785.2b	CHF 106.8b	20.3x	16.9x	2.3x
Thu, 05 Jun 2025	CHF 1.8t	CHF 784.6b	CHF 106.3b	20.3x	17.3x	2.3x
Sat, 03 May 2025	CHF 1.8t	CHF 837.2b	CHF 158.4b	19.6x	11.4x	2.2x
Mon, 31 Mar 2025	CHF 1.9t	CHF 849.9b	CHF 158.9b	20x	11.8x	2.2x
Wed, 26 Feb 2025	CHF 1.9t	CHF 810.7b	CHF 117.1b	21.2x	16.4x	2.4x
Fri, 24 Jan 2025	CHF 1.8t	CHF 817.9b	CHF 117.8b	21.3x	15.6x	2.2x
Sun, 22 Dec 2024	CHF 1.7t	CHF 812.8b	CHF 117.3b	20.6x	14.6x	2.1x
Tue, 19 Nov 2024	CHF 1.7t	CHF 811.6b	CHF 117.2b	19.6x	14.8x	2.1x
Thu, 17 Oct 2024	CHF 1.8t	CHF 806.1b	CHF 114.3b	21.2x	15.9x	2.3x
Sat, 14 Sep 2024	CHF 1.8t	CHF 802.4b	CHF 113.9b	21x	15.8x	2.2x
Mon, 12 Aug 2024	CHF 1.8t	CHF 802.4b	CHF 136.5b	20.9x	13.1x	2.2x
Wed, 10 Jul 2024	CHF 1.8t	CHF 801.8b	CHF 125.7b	21.3x	14.4x	2.3x
Fri, 07 Jun 2024	CHF 1.8t	CHF 799.4b	CHF 125.3b	22.3x	14.6x	2.3x
Sun, 05 May 2024	CHF 1.7t	CHF 797.7b	CHF 125.2b	21.4x	13.7x	2.1x
Tue, 02 Apr 2024	CHF 1.8t	CHF 766.5b	CHF 96.9b	21.9x	18.4x	2.3x
Thu, 29 Feb 2024	CHF 1.7t	CHF 788.5b	CHF 111.1b	19.8x	15.5x	2.2x
Sat, 27 Jan 2024	CHF 1.7t	CHF 765.2b	CHF 109.7b	17.9x	15.6x	2.2x
Mon, 25 Dec 2023	CHF 1.7t	CHF 763.3b	CHF 109.8b	18.4x	15.3x	2.2x
Wed, 22 Nov 2023	CHF 1.6t	CHF 771.9b	CHF 111.4b	17.9x	14.6x	2.1x
Fri, 20 Oct 2023	CHF 1.6t	CHF 760.3b	CHF 100.4b	17.6x	15.7x	2.1x
Sun, 17 Sep 2023	CHF 1.7t	CHF 751.5b	CHF 99.5b	18.7x	16.9x	2.2x
Tue, 15 Aug 2023	CHF 1.7t	CHF 746.0b	CHF 75.2b	18.3x	22.4x	2.3x
Thu, 13 Jul 2023	CHF 1.7t	CHF 750.2b	CHF 76.2b	19.2x	22.3x	2.3x
Sat, 10 Jun 2023	CHF 1.7t	CHF 786.8b	CHF 82.6b	19x	20.9x	2.2x

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 19.2x which is higher than its 3-year average PE of 16.8x.

Past Earnings Growth

The earnings for Swiss listed companies have grown 7.9% 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	-1.12%
Tech	8.31%
Consumer Discretionary	5.65%
Materials	2.13%
Industrials	1.43%
Real Estate	-0.28%
Utilities	-0.89%
Telecom	-1.13%
Financials	-1.41%
Consumer Staples	-1.69%
Healthcare	-4.33%

Sector PE

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.4x.

The market's confidence is likely because analysts are expecting annual earnings growth of 20.0% which is higher than its past year's earnings decline of 14.4% 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 7.1x.

Forecasted Growth

Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 20% over the next 5 years.
This is better than its past earnings decline of 14% per year.

In contrast, the Real Estate sector is expected to see its earnings decline by 7.1% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation	Sector
CFR Compagnie Financière Richemont	CHF 167.40	6.2% +CHF 5.7b	9.1%	PE31.1x	Consumer Discretionary
ABBN ABB	CHF 86.10	1.4% +CHF 2.1b	84.4%	PE40.9x	Industrials
LOGN Logitech International	CHF 101.15	16.1% +CHF 2.0b	47.3%	PE26x	Tech
AMRZ Amrize	CHF 42.93	8.3% +CHF 1.8b	n/a	PE26.2x	Materials
UBSG UBS Group	CHF 37.99	1.5% +CHF 1.7b	38.0%	PE16.1x	Financials

Company

Last Price

Valuation

Sector

CFR Compagnie Financière Richemont

CHF 167.40

6.2%
+CHF 5.7b

9.1%

PE31.1x

Consumer Discretionary

ABBN ABB

CHF 86.10

1.4%
+CHF 2.1b

84.4%

PE40.9x

Industrials

LOGN Logitech International

CHF 101.15

16.1%
+CHF 2.0b

47.3%

PE26x

Tech

AMRZ Amrize

CHF 42.93

8.3%
+CHF 1.8b

n/a

PE26.2x

Materials

UBSG UBS Group

CHF 37.99

1.5%
+CHF 1.7b

38.0%

PE16.1x

Financials

Roche Receives FDA Acceptance For New Drug Application For Giredestrant In ER-Positive Early-Stage Breast Cancer

Roche announced that the United States Food and Drug Administration has accepted the company’s New Drug Application under Priority Review for giredestrant, an investigational oral selective oestrogen receptor degrader (SERD), as an adjuvant treatment for adults with oestrogen receptor (ER)-positive, human epidermal growth factor receptor 2 (HER2)-negative, stage I, II, and III breast cancer. The FDA is expected to make a decision on the approval by 30 November 2026. The filing acceptance is based on the phase III lidERA Breast Cancer study results, which showed adjuvant giredestrant significantly reduced the risk of invasive disease recurrence or death (iDFS) by 30% compared with standard-of-care endocrine therapy (SoC ET) (hazard ratio [HR]=0.70, 95% confidence interval [CI] 0.57-0.87, p=0.0014). At three years, 92.4% of patients in the giredestrant arm were alive and free of invasive disease versus 89.6% in the SoC ET arm. The iDFS benefit was consistent across all clinically relevant subgroups. Overall survival (OS) data were immature at the time of this analysis, but a clear positive trend was observed. Follow-up for OS will continue to the next analysis. Giredestrant was well tolerated; adverse events were manageable and consistent with its known safety profile. The treatment discontinuation rate for giredestrant was 5.3% versus 8.2% with SoC ET. Additional analyses from the giredestrant programme were presented at the 2026 American Society of Clinical Oncology Congress. This growing body of evidence continues to reinforce the clinical benefit profile of giredestrant and its potential to meaningfully improve outcomes across ER-positive early-stage and advanced breast cancer. The US FDA recently accepted the NDA for giredestrant in combination with everolimus for those with ESR1-mutated, ER-positive advanced breast cancer based on the evERA results, with a decision expected in December 2026. Roche’s expanding giredestrant clinical development programme spans distinct treatment settings and lines of therapy. Globally, 2,300,000 people are diagnosed with breast cancer each year. ER-positive breast cancer accounts for approximately 70% of breast cancer cases, and the majority are diagnosed in the early-stage. Currently, up to a third of people eventually experience recurrence on or after adjuvant endocrine therapy treatment for early-stage breast cancer. Additionally, many have to interrupt or stop treatment early due to safety or tolerability issues, thereby increasing the risk of death. These limitations underscore the need for more effective and better-tolerated options that can enhance adherence and prevent or delay disease recurrence. lidERA Breast Cancer [NCT04961996] is a phase III, randomised, open-label, multicentre study evaluating the efficacy and safety of adjuvant giredestrant versus standard-of-care endocrine therapy in people with medium- or high-risk stage I-III oestrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer. Over 4,100 patients were enrolled in the study. The primary endpoint is invasive disease-free survival (iDFS) excluding unrelated cancers in other organs (second primary non-breast cancers). Key secondary endpoints include overall survival, iDFS including second primary non-breast cancers, disease-free survival and safety. Giredestrant is an investigational, oral, potent next-generation selective oestrogen receptor degrader and full antagonist. Giredestrant is designed to block oestrogen from binding to the oestrogen receptor, triggering its breakdown (known as degradation) and stopping or slowing down the growth of cancer cells. Giredestrant has an extensive clinical development programme and is being investigated in five company-sponsored phase III clinical trials that span multiple treatment settings and lines of therapy to benefit as many people as possible: Giredestrant versus standard-of-care endocrine therapy (SoC ET) as adjuvant treatment in oestrogen receptor (ER)-positive, human epidermal growth factor receptor 2 (HER2)-negative early-stage breast cancer (lidERA Breast Cancer; NCT04961996); Giredestrant plus everolimus versus SoC ET plus everolimus in ER-positive, HER2-negative, locally advanced or metastatic breast cancer (evERA Breast Cancer; NCT05306340); Giredestrant plus palbociclib versus letrozole plus palbociclib in ER-positive, HER2-negative, endocrine-sensitive, recurrent locally advanced or metastatic breast cancer (persevERA Breast Cancer; NCT04546009); Giredestrant plus investigator’s choice of a cyclin-dependent kinase 4/6 (CDK4/6) inhibitor versus fulvestrant plus a CDK4/6 inhibitor in ER-positive, HER2-negative advanced breast cancer resistant to adjuvant endocrine therapy (pionERA Breast Cancer; NCT06065748); Giredestrant plus Phesgo (pertuzumab, trastuzumab, and hyaluronidase subcutaneous) versus Phesgo in ER-positive, HER2-positive locally advanced or metastatic breast cancer (heredERA Breast Cancer; NCT05296798).

Swiss (SMI) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

Land of the rising yields 📈

Latest News

Roche Receives FDA Acceptance For New Drug Application For Giredestrant In ER-Positive Early-Stage Breast Cancer

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CEO & Chairman recently bought CHF1.1m worth of stock

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