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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies204
  • 7D2.2%
  • 3M11.4%
  • 1Y16.0%
  • YTD6.3%

Over the last 7 days, the market has risen 2.2%, driven by gains of 5.3% in the Healthcare sector. In the last year, the market has climbed 16%. 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
Sat, 27 Jun 2026CHF 2.1tCHF 781.1bCHF 104.8b20.5x20x2.7x
Mon, 25 May 2026CHF 2.0tCHF 772.8bCHF 103.7b20.7x19.4x2.6x
Wed, 22 Apr 2026CHF 2.0tCHF 778.7bCHF 109.4b20.8x18.1x2.5x
Fri, 20 Mar 2026CHF 1.9tCHF 779.5bCHF 109.4b20.2x17.2x2.4x
Sun, 15 Feb 2026CHF 2.0tCHF 788.2bCHF 117.6b20.6x17.3x2.6x
Tue, 13 Jan 2026CHF 2.1tCHF 798.3bCHF 115.0b20.5x18.5x2.7x
Thu, 11 Dec 2025CHF 1.9tCHF 800.4bCHF 114.7b19.4x16.9x2.4x
Sat, 08 Nov 2025CHF 1.9tCHF 803.3bCHF 114.3b19.1x16.3x2.3x
Mon, 06 Oct 2025CHF 1.9tCHF 774.1bCHF 90.3b19.6x20.9x2.4x
Wed, 03 Sep 2025CHF 1.8tCHF 776.8bCHF 90.2b19.9x20.4x2.4x
Fri, 01 Aug 2025CHF 1.8tCHF 797.1bCHF 109.8b20.2x16.6x2.3x
Sun, 29 Jun 2025CHF 1.8tCHF 785.8bCHF 106.8b20.3x16.9x2.3x
Tue, 27 May 2025CHF 1.8tCHF 785.1bCHF 106.4b20.2x17.3x2.3x
Thu, 24 Apr 2025CHF 1.7tCHF 836.9bCHF 157.3b18.6x11x2.1x
Sat, 22 Mar 2025CHF 1.9tCHF 850.4bCHF 158.7b20x12.1x2.3x
Mon, 17 Feb 2025CHF 1.9tCHF 820.3bCHF 116.1b21.9x16.4x2.3x
Wed, 15 Jan 2025CHF 1.8tCHF 819.4bCHF 117.9b20.7x14.9x2.1x
Fri, 13 Dec 2024CHF 1.8tCHF 811.5bCHF 117.1b20.6x14.9x2.2x
Sun, 10 Nov 2024CHF 1.8tCHF 812.8bCHF 117.3b20.1x15x2.2x
Tue, 08 Oct 2024CHF 1.8tCHF 802.9bCHF 114.0b21.2x15.8x2.2x
Thu, 05 Sep 2024CHF 1.8tCHF 801.1bCHF 113.8b21.3x16x2.3x
Sat, 03 Aug 2024CHF 1.8tCHF 799.0bCHF 135.8b21.7x13.1x2.2x
Mon, 01 Jul 2024CHF 1.8tCHF 801.2bCHF 126.0b21.1x14.3x2.2x
Wed, 29 May 2024CHF 1.8tCHF 807.6bCHF 126.5b21.9x14.2x2.2x
Fri, 26 Apr 2024CHF 1.7tCHF 770.9bCHF 97.2b21.3x17.6x2.2x
Sun, 24 Mar 2024CHF 1.8tCHF 765.7bCHF 98.1b21.2x18.1x2.3x
Tue, 20 Feb 2024CHF 1.7tCHF 769.4bCHF 109.7b19.7x15.8x2.2x
Thu, 18 Jan 2024CHF 1.7tCHF 765.3bCHF 110.2b17.9x15.2x2.2x
Sat, 16 Dec 2023CHF 1.7tCHF 767.5bCHF 110.6b18.7x15.3x2.2x
Mon, 13 Nov 2023CHF 1.6tCHF 776.5bCHF 112.2b17.5x14.2x2.1x
Wed, 11 Oct 2023CHF 1.6tCHF 762.8bCHF 100.5b18.3x16.4x2.2x
Fri, 08 Sep 2023CHF 1.7tCHF 749.5bCHF 99.3b18.6x16.8x2.2x
Sun, 06 Aug 2023CHF 1.7tCHF 742.1bCHF 75.3b18.5x22.4x2.3x
Tue, 04 Jul 2023CHF 1.7tCHF 757.5bCHF 76.9b19.4x22.3x2.3x
Price to Earnings Ratio

22.3x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 76.9bTotal Revenue: CHF 757.5bTotal 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 20.0x 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 Market2.22%
Consumer Staples5.36%
Healthcare5.29%
Consumer Discretionary1.36%
Real Estate1.22%
Materials1.01%
Financials0.26%
Telecom0.22%
Utilities0.15%
Industrials-1.53%
Tech-5.82%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 25.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.7% which is higher than its past year's earnings decline of 6.1% 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 22% 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?

CompanyLast Price7D1YValuationSector
NOVN NovartisCHF 126.286.7%
+CHF 14.6b		31.3%PE21.1xHealthcare
ROP Roche HoldingCHF 336.005.1%
+CHF 12.9b		28.4%PE20.8xHealthcare
NESN NestléCHF 83.295.7%
+CHF 11.6b		5.0%PE23.7xConsumer Staples
LONN Lonza GroupCHF 534.607.2%
+CHF 2.5b		-5.6%PE41.1xHealthcare
ZURN Zurich Insurance GroupCHF 589.002.2%
+CHF 1.9b		6.1%PE16xFinancials
See more

Market Insights

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Latest News

ROP
CHF 336.00
Roche Holding
7D
5.1%
1Y
28.4%
Narrative Update • Jun 26

ROP: External Oncology Collaborations Will Likely Cap Near Term Upside

Analysts have updated their fair value estimate for Roche Holding to CHF 253.81 from CHF 295.00, reflecting refreshed assumptions on revenue growth, margins, and future P/E multiples in light of recent co-development agreements with partners such as Nurix Therapeutics. Analyst Commentary Recent Street research around Roche Holding and its partners gives you a mixed picture, with enthusiasm for the co-development agreements alongside more cautious voices highlighting execution and valuation risks.
SDZ
CHF 71.88
Sandoz Group
7D
5.8%
1Y
65.8%
Narrative Update • Jun 26

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

The analyst price target for Sandoz Group has been revised to CHF 70.74, reflecting updated views on fair value, revenue growth, profit margins, and future P/E after a mix of recent target cuts, target hikes, and an upgrade from major banks. Analyst Commentary Recent Street research on Sandoz Group shows a mix of optimism and restraint, with major banks adjusting their views on valuation, execution, and growth expectations.
NOVN
CHF 126.28
Novartis
7D
6.7%
1Y
31.3%
Narrative Update • Jun 26

NOVN: Oncology Pipeline Advances Will Drive Future Upside Potential

Analysts have revised their fair value estimate for Novartis to CHF144.47 from CHF138.41, reflecting updated assumptions around revenue growth, the discount rate, and future P/E. What’s in the News for Novartis Novartis agreed to a collaboration with Antares Therapeutics worth up to US$1.9b, including a US$105m upfront payment and potential US$1.8b in milestones, to discover and develop small molecule oncology therapies targeting historically undruggable cancers.
HOLN
CHF 75.08
Holcim
7D
-2.4%
1Y
26.2%
LONN
CHF 534.60
Lonza Group
7D
7.2%
1Y
-5.6%
CFR
CHF 186.80
Compagnie Financière Richemont
7D
1.7%
1Y
24.9%
Analysis Article • Jun 25

Is Now The Time To Look At Buying Compagnie Financière Richemont SA (VTX:CFR)?

Compagnie Financière Richemont SA ( VTX:CFR ) led the SWX gainers with a relatively large price hike in the past couple...
ZURN
CHF 589.00
Zurich Insurance Group
7D
2.2%
1Y
6.1%
Narrative Update • Jun 25

ZURN: Future Returns Will Balance Robotics Insurance Expansion And Cyclical Pricing Pressures

Analysts have modestly lifted the fair value estimate for Zurich Insurance Group to CHF 596.43 from CHF 580.51. This reflects updated assumptions around revenue growth, profit margins and a slightly higher future P/E multiple following recent price target revisions, such as Berenberg's move to CHF 902, along with ongoing neutral views from other firms.
BEAN
CHF 904.00
BELIMO Holding
7D
-5.4%
1Y
12.0%
Narrative Update • Jun 24

BEAN: Data Center Cooling Upside Will Face Rich P E Risk

Analysts have lifted their fair value estimate for BELIMO Holding to CHF 964.78 from CHF 880.86 as updated P/E and growth assumptions align with a series of higher price targets from recent research, even as some now flag valuation as close to prior peaks. Analyst Commentary Recent research on BELIMO Holding reflects a mix of optimism about long term growth drivers and caution around how fully the current valuation may already capture those expectations.
NESN
CHF 83.29
Nestlé
7D
5.7%
1Y
5.0%
Narrative Update • Jun 24

NESN: Gradual Restructuring And Automation Efforts Will Shape 2026 Execution

Analysts have raised their price target on Nestlé by CHF 2 to reflect updated views on the company, citing recent research that points to supportive fundamentals and valuation assumptions that remain broadly unchanged. Analyst Commentary Recent Street research on Nestlé points to a cluster of price target adjustments and a fresh rating, giving investors more context on how experts are thinking about valuation, execution and growth potential for the company.
VACN
CHF 669.80
VAT Group
7D
-2.4%
1Y
96.3%
Narrative Update • Jun 23

VACN: Higher Cycle Hopes Will Confront Rich Multiple And Execution Risks

The updated fair value for VAT Group has been increased to CHF 617 from CHF 603. This reflects analysts' higher price targets in recent research, based on their rationale around slightly stronger revenue growth, profit margins, and a marginally lower discount rate.
ABBN
CHF 84.52
ABB
7D
-3.0%
1Y
76.9%
Narrative Update • Jun 22

ABBN: Automation And Electrification Projects Will Support Measured Long Term Upside

ABB's updated analyst price target implies a move of roughly CHF 5 higher, with analysts pointing to refined fair value estimates, a slightly adjusted discount rate, and modest tweaks to revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research on ABB shows a cluster of bullish analysts lifting price targets and, in some cases, upgrading their views.
LOGN
CHF 78.78
Logitech International
7D
-9.7%
1Y
9.4%
UBSG
CHF 39.97
UBS Group
7D
-2.5%
1Y
49.3%
HUBN
CHF 219.50
Huber+Suhner
7D
-10.6%
1Y
148.0%
Narrative Update • Jun 18

HUBN: Optical Partnerships And Higher Margins Will Drive Strong Share Upside

Analysts have lifted their price target for Huber+Suhner from CHF 189 to CHF 320, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What’s in the News for Huber+Suhner Huber+Suhner is working with Microsoft’s Azure team in Romsey, UK, to develop and manufacture hollow core fiber (HCF) cable and connector solutions that are already deployed in the Azure network, with higher capacity variants under development.
PGHN
CHF 651.80
Partners Group Holding
7D
-4.3%
1Y
-36.7%
Narrative Update • Jun 18

PGHN: Future Returns Will Hinge On Managing Fund Liquidity And Execution Risks

The analyst price target for Partners Group Holding has been reduced from CHF 930 to CHF 760. This reflects updated views based on more moderate revenue growth assumptions, a slightly higher discount rate and a lower future P/E, partially offset by higher expected profit margins.
KNIN
CHF 193.70
Kuehne + Nagel International
7D
6.6%
1Y
10.9%
Narrative Update • Jun 15

KNIN: Recent Upgrades And Margin Assumptions Will Shape Future P/E Upside

Analysts have raised the Kuehne + Nagel International price target to about CHF 184 from roughly CHF 167, reflecting updated assumptions on revenue growth, margins and future P/E following a series of recent target increases and an upgrade from major banks. Analyst Commentary Recent research updates on Kuehne + Nagel International have centered on incremental price target adjustments and rating changes, giving you a clearer sense of how the stock is being framed on valuation and execution risk.