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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies204
  • 7D0.08%
  • 3M1.8%
  • 1Y6.2%
  • YTD0.9%

In the last week, the market has been flat, with a notable exception in the Information Technology sector dropping 3.5%. More promisingly, the market is up 6.2% 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
Wed, 10 Jun 2026CHF 2.0tCHF 777.0bCHF 104.3b20.2x19.1x2.6x
Fri, 08 May 2026CHF 2.0tCHF 772.1bCHF 102.8b20.7x19.5x2.6x
Sun, 05 Apr 2026CHF 1.9tCHF 783.4bCHF 110.0b20.4x17.6x2.5x
Tue, 03 Mar 2026CHF 2.1tCHF 777.6bCHF 113.5b21x18.3x2.7x
Thu, 29 Jan 2026CHF 2.0tCHF 789.2bCHF 113.8b20.5x17.4x2.5x
Sat, 27 Dec 2025CHF 2.0tCHF 794.7bCHF 114.0b20.3x17.4x2.5x
Mon, 24 Nov 2025CHF 1.9tCHF 807.6bCHF 115.3b19.1x16.5x2.4x
Wed, 22 Oct 2025CHF 1.9tCHF 774.0bCHF 90.4b19.3x21.1x2.5x
Fri, 19 Sep 2025CHF 1.8tCHF 773.0bCHF 90.1b19.4x20.4x2.4x
Sun, 17 Aug 2025CHF 1.8tCHF 777.4bCHF 90.3b21.2x20.4x2.4x
Tue, 15 Jul 2025CHF 1.8tCHF 784.9bCHF 106.7b20.4x17x2.3x
Thu, 12 Jun 2025CHF 1.8tCHF 782.7bCHF 106.6b20.3x17.3x2.4x
Sat, 10 May 2025CHF 1.8tCHF 787.3bCHF 106.1b19.8x16.9x2.3x
Mon, 07 Apr 2025CHF 1.7tCHF 843.7bCHF 158.3b17.9x10.8x2x
Wed, 05 Mar 2025CHF 1.9tCHF 807.8bCHF 117.2b20.4x16.3x2.4x
Fri, 31 Jan 2025CHF 1.9tCHF 818.6bCHF 117.9b21.9x15.8x2.3x
Sun, 29 Dec 2024CHF 1.7tCHF 816.1bCHF 117.6b20.9x14.8x2.1x
Tue, 26 Nov 2024CHF 1.7tCHF 811.1bCHF 117.1b20x14.9x2.2x
Thu, 24 Oct 2024CHF 1.8tCHF 807.2bCHF 114.4b21.5x15.9x2.2x
Sat, 21 Sep 2024CHF 1.8tCHF 802.8bCHF 114.0b21x15.7x2.2x
Mon, 19 Aug 2024CHF 1.8tCHF 805.2bCHF 114.0b21.9x16x2.3x
Wed, 17 Jul 2024CHF 1.8tCHF 800.3bCHF 125.2b21.5x14.7x2.3x
Fri, 14 Jun 2024CHF 1.8tCHF 799.9bCHF 125.5b21.7x14.5x2.3x
Sun, 12 May 2024CHF 1.8tCHF 801.7bCHF 126.0b21.5x14.1x2.2x
Tue, 09 Apr 2024CHF 1.8tCHF 768.1bCHF 97.2b21.6x18.1x2.3x
Thu, 07 Mar 2024CHF 1.7tCHF 772.8bCHF 99.3b20.4x17.4x2.2x
Sat, 03 Feb 2024CHF 1.7tCHF 758.6bCHF 109.4b18.1x15.4x2.2x
Mon, 01 Jan 2024CHF 1.7tCHF 758.5bCHF 108.9b18.4x15.4x2.2x
Wed, 29 Nov 2023CHF 1.6tCHF 770.1bCHF 110.9b18x14.6x2.1x
Fri, 27 Oct 2023CHF 1.6tCHF 758.1bCHF 100.8b17.7x15.4x2.1x
Sun, 24 Sep 2023CHF 1.7tCHF 754.5bCHF 100.0b18.3x16.6x2.2x
Tue, 22 Aug 2023CHF 1.6tCHF 745.0bCHF 75.1b17.9x21.8x2.2x
Thu, 20 Jul 2023CHF 1.7tCHF 749.8bCHF 76.7b18.9x22.2x2.3x
Sat, 17 Jun 2023CHF 1.7tCHF 757.1bCHF 76.9b19.4x22.7x2.3x
Price to Earnings Ratio

22.7x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 76.9bTotal Revenue: CHF 757.1bTotal 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 Market0.08%
Healthcare1.80%
Industrials0.54%
Financials-0.29%
Real Estate-0.93%
Consumer Discretionary-1.34%
Consumer Staples-1.56%
Materials-1.63%
Utilities-1.97%
Telecom-3.23%
Tech-3.54%
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 19.9% 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 118.384.8%
+CHF 9.8b		21.3%PE20xHealthcare
ROP Roche HoldingCHF 318.802.9%
+CHF 7.2b		18.2%PE19.7xHealthcare
GIVN GivaudanCHF 3.15k11.1%
+CHF 2.9b		-24.9%PE27.1xMaterials
ALC AlconCHF 53.705.3%
+CHF 1.3b		-26.5%PE40xHealthcare
SREN Swiss ReCHF 118.603.6%
+CHF 1.2b		-16.8%PE9xFinancials
See more

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Latest News

PGHN
CHF 703.00
Partners Group Holding
7D
-14.4%
1Y
-35.0%
SGSN
CHF 90.20
SGS
7D
3.7%
1Y
6.3%
Narrative Update • Jun 06

SGSN: North America Bioanalytics And AI Safety Services Will Support CHF 100 Potential

SGS's analyst price target edges higher toward CHF 100, with a small fair value uplift supported by modestly stronger revenue growth and profit margin assumptions, as well as a series of recent target increases and rating upgrades from research firms, partly offset by one lower target from another bank. Analyst Commentary Bullish Takeaways Bullish analysts are shifting toward more favorable ratings on SGS, with recent moves into Outperform territory around a CHF 100 price target, which signals increased confidence in execution at that valuation level.
ABBN
CHF 80.52
ABB
7D
-6.5%
1Y
68.8%
NOVN
CHF 118.38
Novartis
7D
4.8%
1Y
21.3%
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).
HOLN
CHF 72.00
Holcim
7D
-6.1%
1Y
-25.3%
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 3,147.00
Givaudan
7D
11.1%
1Y
-24.9%
HUBN
CHF 246.50
Huber+Suhner
7D
-13.4%
1Y
191.4%
Narrative Update • Jun 04

HUBN: Cloud Infrastructure Ambitions Will Sustain Excessive P E Risk

Analysts have kept their CHF fair value estimate for Huber+Suhner steady at CHF 200.0. The slight adjustments in discount rate, revenue growth, profit margin and future P/E form part of a narrative update rather than a change in the headline price target. What's in the News Huber+Suhner is working with Microsoft’s Azure team in Romsey, UK, on hollow core fiber (HCF) cable and connector solutions that are already used in the Azure network, with higher capacity versions under development to support future HCF based cloud infrastructure.
ROP
CHF 318.80
Roche Holding
7D
2.9%
1Y
18.2%
ALC
CHF 53.70
Alcon
7D
5.3%
1Y
-26.5%
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 89.52
Logitech International
7D
-11.5%
1Y
25.6%
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.
SREN
CHF 118.60
Swiss Re
7D
3.6%
1Y
-16.8%
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.
KNIN
CHF 191.00
Kuehne + Nagel International
7D
2.0%
1Y
1.1%
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.
SDZ
CHF 64.60
Sandoz Group
7D
2.7%
1Y
48.7%
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.
AMRZ
CHF 40.90
Amrize
7D
-4.7%
1Y
n/a
SCMN
CHF 647.50
Swisscom
7D
-2.0%
1Y
15.5%
UHR
CHF 201.20
Swatch Group
7D
-8.2%
1Y
43.3%