Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swiss (SMI) Market Analysis & Valuation

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies204
  • 7D0.4%
  • 3M2.2%
  • 1Y6.6%
  • YTD1.3%

In the last week, the market has been flat, with a notable exception in the Information Technology sector dropping 3.7%. Meanwhile, the market is actually up 6.6% over the past year. 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
Tue, 09 Jun 2026CHF 2.0tCHF 776.7bCHF 104.2b20.4x19.1x2.6x
Thu, 07 May 2026CHF 2.0tCHF 772.1bCHF 102.8b20.7x19.5x2.6x
Sat, 04 Apr 2026CHF 1.9tCHF 783.9bCHF 110.0b20.4x17.6x2.5x
Mon, 02 Mar 2026CHF 2.1tCHF 777.6bCHF 113.5b21x18.3x2.7x
Wed, 28 Jan 2026CHF 2.0tCHF 788.3bCHF 113.7b20.7x17.6x2.5x
Fri, 26 Dec 2025CHF 2.0tCHF 794.7bCHF 114.0b20.3x17.4x2.5x
Sun, 23 Nov 2025CHF 1.9tCHF 807.6bCHF 115.3b19.1x16.5x2.4x
Tue, 21 Oct 2025CHF 1.9tCHF 773.4bCHF 90.3b19.2x21.1x2.5x
Thu, 18 Sep 2025CHF 1.8tCHF 771.6bCHF 89.9b19.7x20.4x2.4x
Sat, 16 Aug 2025CHF 1.8tCHF 777.4bCHF 90.3b21.2x20.4x2.4x
Mon, 14 Jul 2025CHF 1.8tCHF 784.6bCHF 106.7b20.4x17x2.3x
Wed, 11 Jun 2025CHF 1.8tCHF 783.2bCHF 106.7b20.3x17.3x2.4x
Fri, 09 May 2025CHF 1.8tCHF 786.3bCHF 106.3b19.7x16.9x2.3x
Sun, 06 Apr 2025CHF 1.7tCHF 843.7bCHF 158.3b17.9x10.8x2x
Tue, 04 Mar 2025CHF 1.9tCHF 810.1bCHF 117.4b21x16.5x2.4x
Thu, 30 Jan 2025CHF 1.9tCHF 818.4bCHF 117.8b21.7x15.8x2.3x
Sat, 28 Dec 2024CHF 1.7tCHF 816.0bCHF 117.6b20.9x14.8x2.1x
Mon, 25 Nov 2024CHF 1.7tCHF 813.1bCHF 117.3b19.9x14.9x2.1x
Wed, 23 Oct 2024CHF 1.8tCHF 806.0bCHF 114.4b21.5x15.9x2.3x
Fri, 20 Sep 2024CHF 1.8tCHF 801.6bCHF 113.9b21.5x15.8x2.3x
Sun, 18 Aug 2024CHF 1.8tCHF 805.2bCHF 114.0b21.9x16x2.3x
Tue, 16 Jul 2024CHF 1.8tCHF 801.6bCHF 125.6b21.5x14.6x2.3x
Thu, 13 Jun 2024CHF 1.8tCHF 800.5bCHF 125.6b22.1x14.4x2.3x
Sat, 11 May 2024CHF 1.8tCHF 801.7bCHF 126.0b21.5x14.1x2.2x
Mon, 08 Apr 2024CHF 1.8tCHF 766.9bCHF 97.0b21.3x18.1x2.3x
Wed, 06 Mar 2024CHF 1.7tCHF 784.9bCHF 111.0b20.1x15.5x2.2x
Fri, 02 Feb 2024CHF 1.7tCHF 757.1bCHF 109.5b17.7x15.4x2.2x
Sun, 31 Dec 2023CHF 1.7tCHF 758.5bCHF 108.9b18.4x15.4x2.2x
Tue, 28 Nov 2023CHF 1.6tCHF 771.2bCHF 111.2b18.1x14.7x2.1x
Thu, 26 Oct 2023CHF 1.6tCHF 755.8bCHF 100.3b17.6x15.6x2.1x
Sat, 23 Sep 2023CHF 1.7tCHF 754.3bCHF 100.0b18.3x16.6x2.2x
Mon, 21 Aug 2023CHF 1.6tCHF 747.6bCHF 75.3b17.6x21.8x2.2x
Wed, 19 Jul 2023CHF 1.7tCHF 748.4bCHF 76.2b19.1x22.4x2.3x
Fri, 16 Jun 2023CHF 1.7tCHF 756.6bCHF 76.9b19.4x22.6x2.3x
Price to Earnings Ratio

22.6x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 76.9bTotal Revenue: CHF 756.6bTotal 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 19.1x 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 Market0.43%
Healthcare2.27%
Industrials0.86%
Materials-0.29%
Financials-0.39%
Consumer Staples-1.00%
Real Estate-1.36%
Utilities-1.46%
Consumer Discretionary-1.52%
Telecom-2.50%
Tech-3.73%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 19.7% 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 7.0% 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 117.343.0%
+CHF 6.3b		20.9%PE19.9xHealthcare
ROP Roche HoldingCHF 322.701.7%
+CHF 4.2b		20.3%PE19.9xHealthcare
KNIN Kuehne + Nagel InternationalCHF 192.805.3%
+CHF 1.1b		2.8%PE27.4xIndustrials
BEAN BELIMO HoldingCHF 905.0011.5%
+CHF 1.1b		13.1%PE61.3xIndustrials
UBSG UBS GroupCHF 37.840.8%
+CHF 881.5m		35.7%PE15.8xFinancials
See more

Market Insights

Header cover image
The most anticipated IPO in history lands next week at an expected $1.75 trillion price tag. Part launch business, part Starlink, and increasingly an AI bet — could the SpaceX IPO be carrying a valuation that has no room for error?
Continue reading
Land of the rising yields 📈

Latest News

PGHN
CHF 713.00
Partners Group Holding
7D
-13.3%
1Y
-34.0%
ABBN
CHF 82.68
ABB
7D
-0.9%
1Y
74.9%
NOVN
CHF 117.34
Novartis
7D
3.0%
1Y
20.9%
Narrative Update • Jun 06

NOVN: Broad Pipeline Data And Manufacturing Investments Will Support Balanced Outlook

Analysts have nudged their price target for Novartis higher from CHF 122.04 to CHF 123.55, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that collectively point to a slightly stronger long term outlook for the stock. What's in the News Pluvicto plus standard of care in PSMA positive metastatic hormone sensitive prostate cancer showed consistent radiographic progression free survival benefits across disease volume and presentation subgroups, along with supportive safety data, at ASCO 2026 and in the Phase 1 AcTION trial for actinium based RLT, reinforcing Novartis' radioligand therapy focus (source: Novartis, ASCO 2026).
NESN
CHF 76.61
Nestlé
7D
-1.6%
1Y
-11.6%
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 72.62
Holcim
7D
-4.6%
1Y
-23.3%
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.
GIVN
CHF 2,928.00
Givaudan
7D
2.8%
1Y
-29.9%
UBSG
CHF 37.84
UBS Group
7D
0.8%
1Y
35.7%
ROP
CHF 322.70
Roche Holding
7D
1.7%
1Y
20.3%
ALC
CHF 53.26
Alcon
7D
3.0%
1Y
-26.0%
Narrative Update • Jun 04

ALC: Share Buybacks And Patent Royalties Will Shape Measured Forward Outlook

Analysts have adjusted their price target on Alcon to reflect updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, resulting in a revised target of CHF 56.34 compared with the previous CHF 60.81. What's in the News Alcon announced a share repurchase program of up to US$1,500 million, funded by cash generated from operations, with repurchased shares to be cancelled as a return of capital to shareholders; the program is valid for 3 years.
LOGN
CHF 91.26
Logitech International
7D
-6.5%
1Y
29.8%
Narrative Update • Jun 03

LOGN: AI And B2B Investment Push Will Likely Cap Near Term Upside

Analysts have trimmed their CHF price target for Logitech International to CHF 66.63 from CHF 68.06, citing updated assumptions that include a slightly higher discount rate, modestly adjusted revenue growth expectations, a higher projected profit margin, and a lower future P/E multiple. What's in the News CEO Hanneke Faber outlined a plan to increase investment in innovation, AI driven product development, B2B sales, and marketing, while aiming to keep margins near the high end of Logitech International’s long term model.
GALD
CHF 166.90
Galderma Group
7D
1.8%
1Y
44.0%
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.
KNIN
CHF 192.80
Kuehne + Nagel International
7D
5.3%
1Y
2.8%
Narrative Update • Jun 01

KNIN: Dividend Support And Recent Rating Upgrade Will Drive Re Rating

Narrative Update The analyst price target for Kuehne + Nagel International has been lifted modestly, with several recent CHF-based target increases. These include moves to CHF 183, CHF 170 and CHF 155, as analysts balance upgraded ratings with some downgrades and refreshed views on discount rate, revenue growth, profit margin and future P/E assumptions.
CFR
CHF 164.95
Compagnie Financière Richemont
7D
-0.8%
1Y
8.8%
BEAN
CHF 905.00
BELIMO Holding
7D
11.5%
1Y
13.1%
Narrative Update • May 25

BEAN: Data Center Cooling Upside Will Support Premium Future P E

Analysts kept the fair value for BELIMO Holding steady at CHF 1,060, with only modest tweaks to growth and margin assumptions. Recent Street research highlights both the perceived quality of its data center liquid cooling opportunity and some caution around tariff driven earnings pressure.
SCMN
CHF 646.50
Swisscom
7D
-2.6%
1Y
14.3%
UHR
CHF 202.30
Swatch Group
7D
-6.0%
1Y
46.9%