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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies204
  • 7D0.6%
  • 3M1.2%
  • 1Y9.2%
  • YTD2.5%

In the last week, the market has stayed flat, however the Consumer Discretionary sector stood out, gaining 8.2%. More promisingly, the market is up 9.2% over the past year. 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
Mon, 01 Jun 2026CHF 2.0tCHF 771.4bCHF 103.5b20.5x19.5x2.6x
Wed, 29 Apr 2026CHF 2.0tCHF 774.5bCHF 102.5b19.9x19.2x2.5x
Fri, 27 Mar 2026CHF 1.9tCHF 782.6bCHF 109.7b20x17.3x2.4x
Sun, 22 Feb 2026CHF 2.1tCHF 794.3bCHF 117.0b20.8x17.6x2.6x
Tue, 20 Jan 2026CHF 2.0tCHF 798.2bCHF 115.0b20.3x17.5x2.5x
Thu, 18 Dec 2025CHF 2.0tCHF 797.9bCHF 114.4b20.2x17.1x2.4x
Sat, 15 Nov 2025CHF 1.9tCHF 799.6bCHF 113.8b19.5x16.7x2.4x
Mon, 13 Oct 2025CHF 1.9tCHF 775.5bCHF 90.5b19.5x20.9x2.4x
Wed, 10 Sep 2025CHF 1.9tCHF 774.4bCHF 90.1b19.5x20.7x2.4x
Fri, 08 Aug 2025CHF 1.8tCHF 774.8bCHF 89.8b20.5x20.3x2.4x
Sun, 06 Jul 2025CHF 1.8tCHF 784.4bCHF 106.7b20.2x16.9x2.3x
Tue, 03 Jun 2025CHF 1.8tCHF 784.0bCHF 106.2b20.2x17.2x2.3x
Thu, 01 May 2025CHF 1.8tCHF 837.2bCHF 157.8b19.4x11.3x2.1x
Sat, 29 Mar 2025CHF 1.9tCHF 849.9bCHF 158.9b20x11.8x2.2x
Mon, 24 Feb 2025CHF 1.9tCHF 812.0bCHF 117.2b21.1x16.3x2.4x
Wed, 22 Jan 2025CHF 1.8tCHF 817.8bCHF 117.8b21.4x15.4x2.2x
Fri, 20 Dec 2024CHF 1.7tCHF 814.7bCHF 117.5b20.6x14.6x2.1x
Sun, 17 Nov 2024CHF 1.7tCHF 811.6bCHF 117.2b19.8x14.8x2.1x
Tue, 15 Oct 2024CHF 1.8tCHF 800.3bCHF 114.9b21.5x15.8x2.3x
Thu, 12 Sep 2024CHF 1.8tCHF 803.3bCHF 114.0b20.8x15.7x2.2x
Sat, 10 Aug 2024CHF 1.8tCHF 802.5bCHF 136.5b20.9x13.1x2.2x
Mon, 08 Jul 2024CHF 1.8tCHF 801.1bCHF 125.9b21.4x14.4x2.3x
Wed, 05 Jun 2024CHF 1.8tCHF 799.4bCHF 125.3b21.6x14.4x2.3x
Fri, 03 May 2024CHF 1.7tCHF 799.3bCHF 125.4b21.3x13.6x2.1x
Sun, 31 Mar 2024CHF 1.8tCHF 766.5bCHF 96.9b21.9x18.4x2.3x
Tue, 27 Feb 2024CHF 1.7tCHF 789.5bCHF 110.8b20.1x15.6x2.2x
Thu, 25 Jan 2024CHF 1.7tCHF 764.8bCHF 110.1b18x15.3x2.2x
Sat, 23 Dec 2023CHF 1.7tCHF 763.6bCHF 109.8b18.4x15.3x2.2x
Mon, 20 Nov 2023CHF 1.6tCHF 772.6bCHF 111.5b17.9x14.6x2.1x
Wed, 18 Oct 2023CHF 1.6tCHF 761.2bCHF 100.2b18.2x16.3x2.1x
Fri, 15 Sep 2023CHF 1.7tCHF 750.8bCHF 99.4b18.8x16.8x2.2x
Sun, 13 Aug 2023CHF 1.7tCHF 745.8bCHF 75.2b18.2x22.3x2.3x
Tue, 11 Jul 2023CHF 1.7tCHF 755.3bCHF 76.7b19x21.9x2.2x
Thu, 08 Jun 2023CHF 1.7tCHF 788.4bCHF 82.7b18.7x21x2.2x
Price to Earnings Ratio

21x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 82.7bTotal Revenue: CHF 788.4bTotal 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 19.5x 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 Market0.62%
Consumer Discretionary8.20%
Materials4.25%
Tech4.18%
Real Estate1.34%
Industrials0.81%
Consumer Staples0.76%
Utilities-0.16%
Healthcare-0.71%
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 7.1x.
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
CFR Compagnie Financière RichemontCHF 168.908.4%
+CHF 7.7b		10.3%PE31.5xConsumer Discretionary
HOLN HolcimCHF 77.424.8%
+CHF 2.0b		-15.2%PE110.1xMaterials
GALD Galderma GroupCHF 166.555.0%
+CHF 1.9b		50.5%PE81.7xHealthcare
AMRZ AmrizeCHF 42.117.9%
+CHF 1.7b		n/aPE25.8xMaterials
NESN NestléCHF 79.440.8%
+CHF 1.7b		-8.7%PE22.6xConsumer Staples
See more

Market Insights

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HBAN
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Helvetia Baloise Holding
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1Y
4.5%
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
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Sika
7D
4.3%
1Y
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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
10.3%
GALD
CHF 166.55
Galderma Group
7D
5.0%
1Y
50.5%
HOLN
CHF 77.42
Holcim
7D
4.8%
1Y
-15.2%
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
-25.3%
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
-19.4%
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.
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