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Swiss (SMI) Market Analysis & Valuation

UpdatedMay 31, 2026
DataAggregated Company Financials
Companies204
  • 7D0.6%
  • 3M-1.6%
  • 1Y9.1%
  • YTD2.5%

Over the last 7 days, the market has remained flat, although notably the Consumer Discretionary sector gained 8.2% in that time. As for the longer term, the market has risen 9.1% in the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 31 May 2026CHF 2.0tCHF 771.4bCHF 103.5b20.8x19.6x2.6x
Tue, 28 Apr 2026CHF 2.0tCHF 780.3bCHF 109.9b19.9x18x2.5x
Thu, 26 Mar 2026CHF 1.9tCHF 781.2bCHF 109.5b20x17.4x2.4x
Sat, 21 Feb 2026CHF 2.1tCHF 789.8bCHF 116.5b20.8x17.7x2.6x
Mon, 19 Jan 2026CHF 2.0tCHF 800.2bCHF 115.2b20.7x17.6x2.5x
Wed, 17 Dec 2025CHF 2.0tCHF 798.1bCHF 114.4b19.9x17.1x2.5x
Fri, 14 Nov 2025CHF 1.9tCHF 799.1bCHF 113.8b19.7x16.9x2.4x
Sun, 12 Oct 2025CHF 1.9tCHF 775.5bCHF 90.5b19.5x20.9x2.4x
Tue, 09 Sep 2025CHF 1.9tCHF 773.0bCHF 89.9b19.8x20.8x2.4x
Thu, 07 Aug 2025CHF 1.8tCHF 775.0bCHF 89.8b20.6x20.1x2.3x
Sat, 05 Jul 2025CHF 1.8tCHF 784.4bCHF 106.7b20.2x16.9x2.3x
Mon, 02 Jun 2025CHF 1.8tCHF 785.7bCHF 106.4b20.1x17.2x2.3x
Wed, 30 Apr 2025CHF 1.8tCHF 837.1bCHF 157.9b19.1x11.2x2.1x
Fri, 28 Mar 2025CHF 1.9tCHF 849.9bCHF 158.9b20x11.8x2.2x
Sun, 23 Feb 2025CHF 1.9tCHF 812.1bCHF 117.2b21.1x16.3x2.4x
Tue, 21 Jan 2025CHF 1.8tCHF 818.1bCHF 117.8b21.4x15.3x2.2x
Thu, 19 Dec 2024CHF 1.7tCHF 813.3bCHF 117.3b20.7x14.8x2.1x
Sat, 16 Nov 2024CHF 1.7tCHF 816.4bCHF 117.7b19.8x14.7x2.1x
Mon, 14 Oct 2024CHF 1.8tCHF 800.3bCHF 114.9b21.5x15.8x2.3x
Wed, 11 Sep 2024CHF 1.8tCHF 801.3bCHF 113.8b20.9x15.7x2.2x
Fri, 09 Aug 2024CHF 1.8tCHF 800.7bCHF 136.1b21.2x13x2.2x
Sun, 07 Jul 2024CHF 1.8tCHF 801.2bCHF 125.6b21.4x14.4x2.3x
Tue, 04 Jun 2024CHF 1.8tCHF 801.8bCHF 125.7b21.8x14.4x2.2x
Thu, 02 May 2024CHF 1.7tCHF 802.7bCHF 126.0b21.3x13.6x2.1x
Sat, 30 Mar 2024CHF 1.8tCHF 766.3bCHF 96.9b21.9x18.4x2.3x
Mon, 26 Feb 2024CHF 1.7tCHF 779.6bCHF 110.8b20.1x15.7x2.2x
Wed, 24 Jan 2024CHF 1.7tCHF 767.0bCHF 110.6b17.9x15.1x2.2x
Fri, 22 Dec 2023CHF 1.7tCHF 763.9bCHF 109.9b18.5x15.3x2.2x
Sun, 19 Nov 2023CHF 1.6tCHF 772.6bCHF 111.5b17.9x14.6x2.1x
Tue, 17 Oct 2023CHF 1.6tCHF 761.2bCHF 100.2b18.2x16.3x2.1x
Thu, 14 Sep 2023CHF 1.7tCHF 750.8bCHF 99.3b18.7x16.7x2.2x
Sat, 12 Aug 2023CHF 1.7tCHF 743.1bCHF 75.0b18.2x22.3x2.2x
Mon, 10 Jul 2023CHF 1.7tCHF 755.7bCHF 76.7b18.9x21.8x2.2x
Wed, 07 Jun 2023CHF 1.8tCHF 788.0bCHF 82.7b18.8x21.2x2.2x
Price to Earnings Ratio

21.2x


Total Market Cap: CHF 1.8tTotal Earnings: CHF 82.7bTotal Revenue: CHF 788.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Market Price to Earnings3Y Average 16.8x202420252026
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 19.6x which is higher than its 3-year average PE of 16.8x.
Past Earnings Growth
  • The earnings for Swiss listed companies have grown 7.8% 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 Market0.61%
Consumer Discretionary8.20%
Materials4.25%
Tech4.18%
Real Estate1.34%
Industrials0.81%
Consumer Staples0.76%
Utilities-0.16%
Healthcare-0.72%
Financials-0.92%
Telecom-1.02%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 20.6% 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 7.2x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 21% 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 6.9% 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
CFR Compagnie Financière RichemontCHF 168.908.4%
+CHF 7.7b		9.1%PE31.5xConsumer Discretionary
HOLN HolcimCHF 77.424.8%
+CHF 2.0b		-14.9%PE110.1xMaterials
GALD Galderma GroupCHF 166.555.0%
+CHF 1.9b		54.6%PE81.7xHealthcare
AMRZ AmrizeCHF 42.117.9%
+CHF 1.7b		n/aPE25.8xMaterials
NESN NestléCHF 79.440.8%
+CHF 1.7b		-9.4%PE22.6xConsumer Staples
See more

Market Insights

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Latest News

DESN
CHF 310.00
Dottikon ES Holding
7D
-14.6%
1Y
12.1%
ROP
CHF 329.30
Roche Holding
7D
-1.6%
1Y
24.0%
NESN
CHF 79.44
Nestlé
7D
0.8%
1Y
-9.4%
NOVN
CHF 117.82
Novartis
7D
-1.4%
1Y
25.3%
LOGN
CHF 94.90
Logitech International
7D
8.6%
1Y
38.7%
PGHN
CHF 827.20
Partners Group Holding
7D
-3.7%
1Y
-24.9%
HBAN
CHF 203.00
Helvetia Baloise Holding
7D
-4.6%
1Y
4.2%
Narrative Update • May 26

HBAN: Updated Dividend Policy And P E Assumptions Will Support Future Repricing

Analysts have raised their price target on Helvetia Baloise Holding by CHF 10 to reflect updated assumptions around discount rates, revenue growth, profit margins and future P/E, with the move supported by recent Street research. Analyst Commentary Recent Street research points to a more constructive tone around Helvetia Baloise Holding, with bullish analysts adjusting their models to reflect updated assumptions on discount rates, revenue growth, profit margins and future P/E.
SIKA
CHF 153.30
Sika
7D
4.3%
1Y
-30.2%
Narrative Update • May 26

SIKA: Future Execution And New Facilities Expansion Will Support Share Repricing

Analysts have made only a slight adjustment to the Sika fair value estimate, reflecting a mix of recent Street price target moves, including Deutsche Bank raising its target to CHF 161 and several others trimming theirs by CHF 3 to CHF 14. Analyst Commentary Recent Street research around Sika reflects a mix of optimism and caution, with several firms fine tuning their price targets rather than making sweeping changes.
CFR
CHF 168.90
Compagnie Financière Richemont
7D
8.4%
1Y
9.1%
GALD
CHF 166.55
Galderma Group
7D
5.0%
1Y
54.6%
HOLN
CHF 77.42
Holcim
7D
4.8%
1Y
-14.9%
Narrative Update • May 22

HOLN: Cement Pricing Strength In Europe Will Support Future Rebound Potential

Analysts have modestly raised their average price target on Holcim by CHF 2, reflecting a more constructive stance on the stock as several firms highlight solid cement pricing resilience in Europe and updated assumptions for revenue growth, margins and future P/E multiples. Analyst Commentary Recent research on Holcim has been skewed toward more optimistic views, with several bullish analysts revisiting their models on pricing, earnings power and valuation multiples.
AMRZ
CHF 42.11
Amrize
7D
7.9%
1Y
n/a
ALC
CHF 52.10
Alcon
7D
-2.2%
1Y
-26.3%
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.
SREN
CHF 117.70
Swiss Re
7D
-2.0%
1Y
-19.0%
Narrative Update • May 17

SREN: Buybacks And Earnings Quality Are Expected To Drive Re Rating Potential

Analysts have trimmed Swiss Re price targets, with cuts such as CHF 8 and CHF 5.64 featuring in recent research, and the updated CHF 146.65 fair value reflects small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Recent research on Swiss Re shows a cluster of price target trims, but the range of views is not one sided.
ZURN
CHF 557.00
Zurich Insurance Group
7D
-1.9%
1Y
-3.5%
UHR
CHF 216.20
Swatch Group
7D
8.3%
1Y
56.0%