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

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.

Which sectors have driven the changes within the Swiss Market?

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 27.9x. The market's confidence is likely because analysts are expecting annual earnings growth of 21.2% 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.

Swiss (SMI) Market Analysis & Valuation

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 20 Jun 2026	CHF 2.0t	CHF 780.6b	CHF 104.7b	20.1x	19.5x	2.6x
Mon, 18 May 2026	CHF 2.0t	CHF 773.8b	CHF 103.3b	20.5x	19.2x	2.6x
Wed, 15 Apr 2026	CHF 2.0t	CHF 777.6b	CHF 109.3b	21.3x	18.3x	2.6x
Fri, 13 Mar 2026	CHF 1.9t	CHF 778.4b	CHF 109.2b	20x	17.6x	2.5x
Sun, 08 Feb 2026	CHF 2.0t	CHF 789.8b	CHF 117.7b	20.9x	17.1x	2.6x
Tue, 06 Jan 2026	CHF 2.0t	CHF 796.7b	CHF 114.8b	20.6x	17.4x	2.5x
Thu, 04 Dec 2025	CHF 1.9t	CHF 805.7b	CHF 115.0b	19.6x	16.8x	2.4x
Sat, 01 Nov 2025	CHF 1.9t	CHF 778.5b	CHF 92.1b	19.2x	20.3x	2.4x
Mon, 29 Sep 2025	CHF 1.8t	CHF 774.4b	CHF 90.3b	19x	20.1x	2.3x
Wed, 27 Aug 2025	CHF 1.9t	CHF 776.2b	CHF 90.0b	20.3x	20.6x	2.4x
Fri, 25 Jul 2025	CHF 1.8t	CHF 787.9b	CHF 107.6b	20.4x	17.2x	2.3x
Sun, 22 Jun 2025	CHF 1.8t	CHF 782.1b	CHF 106.5b	20x	16.8x	2.3x
Tue, 20 May 2025	CHF 1.8t	CHF 789.0b	CHF 106.8b	20.2x	17.2x	2.3x
Thu, 17 Apr 2025	CHF 1.7t	CHF 831.2b	CHF 156.5b	18.5x	10.9x	2.1x
Sat, 15 Mar 2025	CHF 1.9t	CHF 849.9b	CHF 158.9b	19.8x	11.9x	2.2x
Mon, 10 Feb 2025	CHF 1.9t	CHF 822.9b	CHF 116.7b	21.9x	16x	2.3x
Wed, 08 Jan 2025	CHF 1.8t	CHF 817.7b	CHF 117.8b	20.9x	15x	2.2x
Fri, 06 Dec 2024	CHF 1.8t	CHF 808.7b	CHF 116.9b	21x	15.1x	2.2x
Sun, 03 Nov 2024	CHF 1.8t	CHF 810.6b	CHF 117.6b	20.5x	15.2x	2.2x
Tue, 01 Oct 2024	CHF 1.8t	CHF 801.1b	CHF 113.9b	21.7x	16x	2.3x
Thu, 29 Aug 2024	CHF 1.8t	CHF 798.8b	CHF 113.6b	21.9x	16.2x	2.3x
Sat, 27 Jul 2024	CHF 1.8t	CHF 795.6b	CHF 124.8b	21.5x	14.7x	2.3x
Mon, 24 Jun 2024	CHF 1.8t	CHF 799.8b	CHF 125.5b	21.7x	14.4x	2.3x
Wed, 22 May 2024	CHF 1.8t	CHF 803.3b	CHF 126.5b	22.2x	14.3x	2.3x
Fri, 19 Apr 2024	CHF 1.7t	CHF 767.9b	CHF 96.9b	20.8x	17.7x	2.2x
Sun, 17 Mar 2024	CHF 1.8t	CHF 766.4b	CHF 97.8b	21.1x	18x	2.3x
Tue, 13 Feb 2024	CHF 1.7t	CHF 766.8b	CHF 109.2b	19.5x	15.5x	2.2x
Thu, 11 Jan 2024	CHF 1.7t	CHF 761.4b	CHF 109.5b	18.4x	15.4x	2.2x
Sat, 09 Dec 2023	CHF 1.7t	CHF 769.9b	CHF 111.1b	18.5x	15x	2.2x
Mon, 06 Nov 2023	CHF 1.6t	CHF 771.2b	CHF 112.8b	17.8x	14.1x	2.1x
Wed, 04 Oct 2023	CHF 1.6t	CHF 751.0b	CHF 100.0b	18.3x	16.3x	2.2x
Fri, 01 Sep 2023	CHF 1.7t	CHF 747.4b	CHF 74.8b	19.1x	22.5x	2.2x
Sun, 30 Jul 2023	CHF 1.7t	CHF 740.8b	CHF 77.3b	18.3x	22.2x	2.3x
Tue, 27 Jun 2023	CHF 1.7t	CHF 757.4b	CHF 76.9b	18.8x	22.1x	2.2x


CH Market	0.72%
Industrials	4.14%
Materials	3.31%
Financials	2.49%
Consumer Discretionary	2.36%
Tech	1.60%
Real Estate	0.37%
Consumer Staples	-1.33%
Utilities	-1.54%
Healthcare	-1.85%
Telecom	-2.93%

Company	Last Price	7D	1Y	Valuation	Sector
ABBN ABB	CHF 87.10	6.7% +CHF 9.9b	85.4%	PE40.3x	Industrials
UBSG UBS Group	CHF 41.00	5.4% +CHF 6.4b	64.5%	PE17x	Financials
CFR Compagnie Financière Richemont	CHF 183.65	2.7% +CHF 2.8b	24.1%	PE33.8x	Consumer Discretionary
ZURN Zurich Insurance Group	CHF 576.20	2.2% +CHF 1.9b	3.7%	PE15.7x	Financials
STMN Straumann Holding	CHF 104.65	11.8% +CHF 1.8b	1.8%	PE46.8x	Healthcare

Announcement • Jun 19

ABB Launches ABB NASCAR Grid Control At NASCAR San Diego Weekend

ABB, the Official Electrification Partner of NASCAR, announced the launch of ABB NASCAR Grid Control – a new fan experience that gives racegoers a first-ever look into the world of NASCAR’s race control and operational sustainability efforts. The new technology debuts at NASCAR San Diego Weekend presented by Anduril, June 19-21, where the league will power the street race from a temporary network of microgrids designed for energy reliability, savings and transparency without reliance on the local utility grid. Located in the general admission fan zone, ABB NASCAR Grid Control is a 20-by-8-by-18-foot glass pod outfitted with 11 live video feeds and data dashboards that give race aficionados unprecedented insight into the inner-workings of a NASCAR race weekend. Inside ABB NASCAR Grid Control, racegoers can step into the role of NASCAR engineers and officials with an unprecedented simulcast of what they see in NASCAR Race Control, like cutting-edge telemetry technology, live data streams, advanced analytics and more used to analyze competition metrics and manage scoring of the race. ABB NASCAR Grid Control also features real-time energy and carbon performance dashboards, enabled by the off-grid ABB management system and intelligent asset monitoring solutions, providing real-time tracking of event operations. Efforts support NASCAR IMPACT, of which ABB is a founding member, and its goal of achieving net zero operating emissions by 2035. Fans visiting ABB NASCAR Grid Control will see the following data, reported publicly in real-time for the first time via ABB CogniEN™ and ABB Sensorfact™ Smart Monitoring Sensors technology: Total Carbon Savings: Emissions avoided during the event; Zone-Specific Energy Optimizations: Generator fuel and carbon savings for four key areas, including the fan experience, operations compound, grandstands and hospitality suites; Hybrid Performance: Reduction in diesel runtime made possible by advanced energy storage utilization. The energy supply system features a network of microgrids similar to the local energy grid and optimized with a hybrid energy strategy, combining Battery Energy Storage Systems (BESS) with traditional diesel generators. These hybrid systems rely on BESS as the primary source of energy with the diesel generator only turning on for 2-3 hours a day to charge the battery, instead of running 24 hours a day, reducing fuel use and emissions. Suburban Propane, the San Diego Weekend Official Renewable Propane Partner, will power event concessions and the generators powering EV chargers available to attendees with renewable propane. ABB technology integrated across the system tracks electricity and fuel usage for adjustments to event operations in real-time. ABB CogniEN™ engineered-to-suit software platform enables NASCAR to track energy and carbon performance of different energy strategies, such as the use of BESS and generator hybrids versus a 100% diesel generator strategy. ABB Sensorfact™ Smart Monitoring Sensors track energy consumption and performance, using wireless sensors and cloud-based monitoring. ABB SACE® Tmax XT Circuit Breakers and ReliaGear® OEM neXT Power Panelboards enable OEMs to create flexible, relocatable, and fast-deployable temporary power distribution solutions for building the NASCAR San Diego Qualcomm Circuit from the ground-up in one week. ABB ReliaGear® XFMR, with a new infrared (IR) viewing window, allows NASCAR to test equipment while energized – critical for equipment operating in the high-stress, high-vibration conditions associated with relocatable power applications. Zone-specific monitoring of various event areas, like the fan experience and grandstands, delivers targeted insights critical to optimizing real-time and future energy usage. Designed for reliability, energy savings and transparency, this approach serves as a blueprint for future high-stakes, constrained event environments while progressing NASCAR IMPACT goals, including helping operations become more efficient and burn less generator fuel. Launched in 2024 with the unveiling of the ABB NASCAR EV Prototype, the ABB NASCAR Electrification Innovation Partnership explores high-performance electric racing and creates strategic opportunities for electrification in motorsports, including events, infrastructure, race vehicles and energy education. NASCAR San Diego Weekend presented by Anduril attendees can experience the ABB NASCAR EV Prototype, which will be parked next to ABB NASCAR Grid Control in the fan zone.

Announcement • Jun 18

Roche Receives FDA Acceptance for Supplemental Biologics License Application For Lunsumio And Polivy Combination For Relapsed Or Refractory Large B-Cell Lymphoma

Roche announced that the US Food and Drug Administration (FDA) has accepted the company’s supplemental Biologics License Application (sBLA) for Lunsumio VELO (mosunetuzumab), as a subcutaneous formulation, in combination with Polivy (polatuzumab vedotin) for the treatment of adult patients with relapsed or refractory large B-cell lymphoma (LBCL), including diffuse large B-cell lymphoma (DLBCL), after at least one prior line of systemic therapy. The FDA is expected to make a decision on approval by 9 February 2027. The sBLA acceptance is based on results from the phase III SUNMO study. At a median follow-up of 23.2 months, the Lunsumio VELO and Polivy combination demonstrated a 59% reduction in risk of disease progression or death (progression-free survival [PFS]) compared to MabThera/Rituxan (rituximab), gemcitabine and oxaliplatin (R-GemOx) (hazard ratio [HR] 0.41, 95% confidence interval [CI]: 0.28–0.61; p<0.0001) and a three-times longer median PFS at 11.5 months (95% CI: 5.6-17.6), compared to 3.8 months for R-GemOx (95% CI: 2.9-4.1). The safety profile of the Lunsumio and Polivy combination was consistent with the known profiles of the individual study medicines. The incidence of cytokine release syndrome events (CRS) in the Lunsumio VELO plus Polivy arm was low, occurring in one in four patients, with less than 5% of patients experiencing Grade 2 or 3 CRS events. Updated data were presented recently at the American Society of Clinical Oncology Annual Meeting and the European Hematology Association Congress, which showed that with longer follow-up, this treatment combination continued to demonstrate clinical benefit in PFS, particularly in the second-line setting, with no new safety signals. LBCL, composed predominantly of DLBCL, is the most common type of non-Hodgkin lymphoma with more than 18,000 new diagnoses each year in the US. While it is generally responsive to treatment in the frontline, as many as 40% of people will relapse or have refractory disease, at which time salvage therapy options are limited and survival is short. Because this stage of disease is time-sensitive, delays caused by referral requirements, inpatient coordination, or complex treatment logistics can have meaningful clinical consequences. The potential new Lunsumio VELO and Polivy combination may address this critical access issue by offering treatment options closer to where a patient lives. Lunsumio is part of Roche’s industry-leading CD20xCD3 bispecific antibody programme. It is designed with the unique needs and preferences of patients in mind, offering the possibility of outpatient treatment and flexibility between intravenous (IV) and subcutaneous administration routes. Lunsumio IV and Lunsumio VELO are approved for people with third-line or later follicular lymphoma (FL). Lunsumio holds the most extensive long-term data for any bispecific antibody in lymphoma. Ongoing development of Lunsumio in combination with other treatments includes the phase III CELESTIMO and MorningLyte studies in second-line or later and frontline FL, respectively. The SUNMO study [NCT05171647] is a phase III, randomised, open-label, multicentre trial evaluating the efficacy and safety of Lunsumio VELO (mosunetuzumab) in combination with intravenously administered Polivy (polatuzumab vedotin) versus MabThera/Rituxan (rituximab) plus gemcitabine and oxaliplatin in patients with relapsed or refractory large B-cell lymphoma who have received at least one prior systemic therapy and are ineligible for autologous stem cell transplant. Outcome measures include progression-free survival and objective response rate (dual primary endpoints), overall survival, duration of objective response, complete response rate, duration of complete response, safety and tolerability, and patient-reported outcomes. Large B-cell lymphomas, composed predominantly of diffuse large B-cell lymphoma (DLBCL), are the most common type of non-Hodgkin lymphoma (NHL) that affect B-cell lymphocytes, a type of white blood cell. DLBCL is a highly aggressive and life-threatening disease. While it is generally responsive to treatment in the frontline, as many as 40% of people will relapse or have refractory disease, at which time salvage therapy options are limited and survival is short. While existing intensive standard-of-care treatments exist, structural, geographical, and clinical access barriers mean that many patients — particularly those in rural communities or receiving care outside of specialised academic transplant centres — face significant burdens and inequities in obtaining timely treatment. Improving treatments earlier in the course of the disease and providing much needed alternative options could help to improve long-term outcomes. Lunsumio is a first-in-class CD20xCD3 T-cell engaging bispecific antibody designed to target CD20 on the surface of B cells and CD3 on the surface of T cells. This dual targeting activates and redirects a patient’s existing T cells to engage and eliminate malignant B cells. Lunsumio is currently approved as a fixed-duration monotherapy for the treatment of adult patients with third-line or later relapsed or refractory follicular lymphoma (FL) in both intravenous and subcutaneous (Lunsumio VELO) formulations. A robust, global development programme is ongoing to explore the clinical utility of Lunsumio earlier in the disease course and in novel combinations, including the phase III CELESTIMO trial in second-line or later FL. Polivy is a first-in-class antibody-drug conjugate (ADC) targeted against CD79b, a protein preferentially expressed on the surface of mature B cells. Polivy binds to CD79b on the lymphoma cells and delivers a cytotoxic chemotherapy agent directly into the cell, inducing cell death via apoptosis while minimising damage to healthy tissue. Polivy is widely approved globally in combination with MabThera/Rituxan (rituximab) plus cyclophosphamide, doxorubicin and prednisone for previously untreated (first-line) diffuse large B-cell lymphoma (DLBCL), as well as in combination with bendamustine and MabThera/Rituxan for relapsed or refractory DLBCL.

Swiss (SMI) Market Analysis & Valuation

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Upcoming dividend of CHF4.40 per share