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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies204
  • 7D0.8%
  • 3M4.5%
  • 1Y7.5%
  • YTD1.9%

In the last week, the market has stayed flat, however the Consumer Discretionary sector stood out, gaining 4.4%. As for the longer term, the market has risen 7.5% in the past 12 months. Looking forward, earnings are forecast to grow by 11% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026CHF 2.0tCHF 776.6bCHF 104.2b20.3x19.3x2.6x
Sun, 10 May 2026CHF 2.0tCHF 771.3bCHF 102.8b20.6x19.2x2.6x
Tue, 07 Apr 2026CHF 1.9tCHF 783.3bCHF 110.0b20.4x17.6x2.5x
Thu, 05 Mar 2026CHF 2.0tCHF 779.5bCHF 113.4b20.8x17.7x2.6x
Sat, 31 Jan 2026CHF 2.0tCHF 787.9bCHF 114.1b20.4x17.5x2.5x
Mon, 29 Dec 2025CHF 2.0tCHF 795.9bCHF 114.1b20.2x17.4x2.5x
Wed, 26 Nov 2025CHF 1.9tCHF 808.3bCHF 115.3b19x16.7x2.4x
Fri, 24 Oct 2025CHF 1.9tCHF 774.1bCHF 90.4b19.6x21x2.5x
Sun, 21 Sep 2025CHF 1.8tCHF 773.9bCHF 90.2b19.2x20.5x2.4x
Tue, 19 Aug 2025CHF 1.8tCHF 777.4bCHF 90.3b21x20.4x2.4x
Thu, 17 Jul 2025CHF 1.8tCHF 785.8bCHF 106.9b20.2x16.9x2.3x
Sat, 14 Jun 2025CHF 1.8tCHF 779.6bCHF 106.2b20.1x17.1x2.3x
Mon, 12 May 2025CHF 1.8tCHF 787.4bCHF 106.1b19.8x16.9x2.3x
Wed, 09 Apr 2025CHF 1.7tCHF 838.7bCHF 157.8b18x10.6x2x
Fri, 07 Mar 2025CHF 1.9tCHF 809.2bCHF 117.1b20.5x16.4x2.4x
Sun, 02 Feb 2025CHF 1.9tCHF 822.2bCHF 115.5b22.2x16.2x2.3x
Tue, 31 Dec 2024CHF 1.7tCHF 817.4bCHF 117.7b21x14.8x2.1x
Thu, 28 Nov 2024CHF 1.7tCHF 809.3bCHF 116.9b20.2x14.9x2.1x
Sat, 26 Oct 2024CHF 1.8tCHF 807.4bCHF 114.4b21.3x15.9x2.3x
Mon, 23 Sep 2024CHF 1.8tCHF 802.8bCHF 114.0b21x15.7x2.2x
Wed, 21 Aug 2024CHF 1.8tCHF 801.5bCHF 113.7b22x16.1x2.3x
Fri, 19 Jul 2024CHF 1.8tCHF 797.8bCHF 124.8b21.4x14.7x2.3x
Sun, 16 Jun 2024CHF 1.8tCHF 798.3bCHF 125.3b21.3x14.4x2.3x
Tue, 14 May 2024CHF 1.8tCHF 802.5bCHF 126.1b21.4x14.1x2.2x
Thu, 11 Apr 2024CHF 1.8tCHF 770.8bCHF 97.4b21.7x18x2.3x
Sat, 09 Mar 2024CHF 1.7tCHF 771.4bCHF 99.0b20.5x17.7x2.3x
Mon, 05 Feb 2024CHF 1.7tCHF 758.6bCHF 109.4b18.1x15.4x2.2x
Wed, 03 Jan 2024CHF 1.7tCHF 758.6bCHF 108.9b18.4x15.4x2.2x
Fri, 01 Dec 2023CHF 1.6tCHF 768.2bCHF 110.7b18.5x14.8x2.1x
Sun, 29 Oct 2023CHF 1.6tCHF 759.0bCHF 100.9b17.8x15.4x2x
Tue, 26 Sep 2023CHF 1.7tCHF 755.6bCHF 100.3b18.4x16.5x2.2x
Thu, 24 Aug 2023CHF 1.7tCHF 745.3bCHF 75.0b18x22.1x2.2x
Sat, 22 Jul 2023CHF 1.7tCHF 752.1bCHF 77.3b18.6x22.1x2.3x
Mon, 19 Jun 2023CHF 1.7tCHF 757.3bCHF 77.0b19.4x22.7x2.3x
Price to Earnings Ratio

22.7x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 77.0bTotal Revenue: CHF 757.3bTotal 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 19.3x which is higher than its 3-year average PE of 16.8x.
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 Market0.75%
Consumer Discretionary4.40%
Consumer Staples3.06%
Healthcare1.93%
Financials0.56%
Real Estate0.18%
Telecom-0.47%
Materials-0.60%
Industrials-2.53%
Utilities-3.85%
Tech-6.40%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.2x.
    • 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 7.1x.
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 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
NOVN NovartisCHF 121.544.9%
+CHF 10.4b		23.9%PE20.7xHealthcare
NESN NestléCHF 79.433.6%
+CHF 7.1b		-7.0%PE22.6xConsumer Staples
CFR Compagnie Financière RichemontCHF 173.655.5%
+CHF 5.4b		12.3%PE32xConsumer Discretionary
GIVN GivaudanCHF 3.14k10.7%
+CHF 2.8b		-24.6%PE27.1xMaterials
GALD Galderma GroupCHF 168.555.9%
+CHF 2.2b		50.5%PE81.1xHealthcare
See more

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Latest News

NOVN
CHF 121.54
Novartis
7D
4.9%
1Y
23.9%
LOGN
CHF 86.52
Logitech International
7D
-7.6%
1Y
21.6%
GIVN
CHF 3,143.00
Givaudan
7D
10.7%
1Y
-24.6%
Narrative Update • Jun 09

GIVN: Pricing Power And Eurofragance Deal Will Support Future Margin Resilience

The analyst price target for Givaudan has been adjusted slightly to CHF 3,415 from CHF 3,447. This reflects a blend of cautious tweaks to growth and discount rate assumptions.
PGHN
CHF 686.40
Partners Group Holding
7D
-3.6%
1Y
-34.7%
GEBN
CHF 493.40
Geberit
7D
-3.4%
1Y
-23.7%
ABBN
CHF 81.28
ABB
7D
-4.0%
1Y
70.4%
NESN
CHF 79.43
Nestlé
7D
3.6%
1Y
-7.0%
Narrative Update • Jun 06

NESN: Ready To Drink Expansion And Ice Cream Review Will Support 2026 Execution

Nestlé's analyst price target has been adjusted slightly higher by CHF 2, with analysts pointing to modest tweaks in revenue growth expectations and valuation assumptions as the key drivers of the change. Analyst Commentary Recent Street research on Nestlé has focused on fine tuning price targets and reassessing valuation as new information filters through, rather than making sweeping calls on the stock.
HOLN
CHF 72.28
Holcim
7D
-4.1%
1Y
-24.3%
Narrative Update • Jun 05

HOLN: Cement Margins And Electrification Projects Will Shape Measured Future Upside

Holcim's analyst price target has been raised by CHF 2 to reflect slightly higher fair value estimates and improved margin expectations, supported by a series of recent upgrades and renewed coverage from major banks. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as consistent with their view that Holcim's earnings power can support a slightly richer valuation multiple, provided current margin expectations are met.
SOON
CHF 198.00
Sonova Holding
7D
-4.5%
1Y
-23.1%
Narrative Update • Jun 05

SOON: Portfolio Shift And Mixed Ratings May Steady P E Over Time

Sonova Holding's updated analyst price target edges higher to CHF 216.51 from CHF 216.15. This reflects analysts' mixed revisions in recent research that factor in adjusted growth, margin and P/E assumptions across the stock.
ZURN
CHF 560.40
Zurich Insurance Group
7D
2.2%
1Y
-0.6%
Narrative Update • Jun 05

ZURN: Future Returns Will Reflect Beazley Integration And Persistent Cyclical Pricing Pressures

Analysts have modestly raised the fair value estimate for Zurich Insurance Group, with the updated price target moving from CHF 574.68 to CHF 580.51 as they factor in slightly higher projected revenue growth, stable margins and neutral ratings that acknowledge both new growth opportunities and ongoing pricing pressures. Analyst Commentary Recent research coverage has coalesced around neutral ratings, with analysts broadly agreeing that Zurich Insurance Group offers a balanced mix of growth opportunities and execution risks.
GALD
CHF 168.55
Galderma Group
7D
5.9%
1Y
50.5%
Narrative Update • Jun 03

GALD: Rising Optimism Will Meet Acne Franchise Concentration Risk

Analysts have lifted the Galderma Group price target by about CHF 1 to roughly CHF 183.50, reflecting updated views on fair value, slightly adjusted revenue growth and profit margin assumptions, and continued supportive research commentary across several firms. Analyst Commentary Recent research has focused on how Galderma can execute on its growth plans while justifying higher valuation ranges, with several firms adjusting price targets and ratings in quick succession.
SCHN
CHF 249.50
Schindler Holding
7D
-2.3%
1Y
-14.1%
Narrative Update • Jun 03

SCHN: Refined Discount Rate And P/E Framework Will Support Gradual Bullish Repricing

Analysts have nudged their price target on Schindler Holding higher by about CHF 2 to reflect slightly adjusted fair value estimates, fine tuned discount rate and growth assumptions, and updated P/E expectations following recent research updates at major banks. Analyst Commentary Recent research updates frame Schindler Holding as a stock where expectations are being fine tuned rather than dramatically reset, with price targets adjusted by a few francs and views focused on how reliably the company can execute against current assumptions.
SREN
CHF 120.60
Swiss Re
7D
3.8%
1Y
-12.3%
Narrative Update • Jun 02

SREN: Soft Cycle Concerns Expected To Re Rate Catastrophe Exposure Potential

Analysts have trimmed the Swiss Re fair value estimate from CHF 146.65 to CHF 145.49 after several firms cut their price targets into a CHF 112 to CHF 145 range, citing concerns that soft cycle pressures may not be fully captured in current earnings expectations. Analyst Commentary Recent research on Swiss Re reflects a mixed backdrop, but there are still some constructive signals for investors to weigh.
SDZ
CHF 66.06
Sandoz Group
7D
3.9%
1Y
53.0%
Narrative Update • May 28

SDZ: Mixed Rating Shifts And Biosimilar Expansion Will Shape Future P/E

Analysts have adjusted the Sandoz Group price target slightly higher, with the updated fair value estimate moving from about CHF 66.01 to CHF 66.36 as they factor in modestly different assumptions for growth, margins and future P/E, following a mix of recent upgrades, initiations and target changes across the Street. Analyst Commentary Recent research on Sandoz Group reflects a mix of optimism and caution, with several firms adjusting ratings and price targets in different directions.
CFR
CHF 173.65
Compagnie Financière Richemont
7D
5.5%
1Y
12.3%
AMRZ
CHF 40.88
Amrize
7D
-4.1%
1Y
n/a