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

Swiss (SMI) Market Analysis & Valuation

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies204
  • 7D0.9%
  • 3M9.7%
  • 1Y15.2%
  • YTD4.4%

Over the last 7 days, the market has remained flat, although notably the Industrials sector gained 4.0% in that time. Meanwhile, the market is actually up 15% 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, 23 Jun 2026CHF 2.1tCHF 781.0bCHF 104.8b20.2x19.6x2.6x
Thu, 21 May 2026CHF 2.0tCHF 773.4bCHF 104.1b21x19.3x2.6x
Sat, 18 Apr 2026CHF 2.0tCHF 777.2bCHF 109.3b21.2x18.4x2.6x
Mon, 16 Mar 2026CHF 1.9tCHF 779.7bCHF 109.5b19.8x17.5x2.5x
Wed, 11 Feb 2026CHF 2.0tCHF 787.0bCHF 117.3b21.1x17.3x2.6x
Fri, 09 Jan 2026CHF 2.0tCHF 799.0bCHF 115.1b20.2x17.5x2.5x
Sun, 07 Dec 2025CHF 1.9tCHF 800.9bCHF 114.7b19.3x16.9x2.4x
Tue, 04 Nov 2025CHF 1.9tCHF 801.5bCHF 114.5b19.2x16.3x2.3x
Thu, 02 Oct 2025CHF 1.9tCHF 774.7bCHF 90.4b19.2x20.6x2.4x
Sat, 30 Aug 2025CHF 1.9tCHF 775.3bCHF 90.0b19.9x20.6x2.4x
Mon, 28 Jul 2025CHF 1.8tCHF 792.3bCHF 108.2b20.5x17x2.3x
Wed, 25 Jun 2025CHF 1.8tCHF 777.9bCHF 106.0b20x17x2.3x
Fri, 23 May 2025CHF 1.8tCHF 787.4bCHF 106.6b20.2x17.2x2.3x
Sun, 20 Apr 2025CHF 1.7tCHF 832.5bCHF 156.8b18.6x10.9x2.1x
Tue, 18 Mar 2025CHF 1.9tCHF 850.4bCHF 158.6b19.9x12.1x2.3x
Thu, 13 Feb 2025CHF 1.9tCHF 824.7bCHF 117.0b22.4x16.1x2.3x
Sat, 11 Jan 2025CHF 1.8tCHF 820.3bCHF 118.0b20.8x15x2.2x
Mon, 09 Dec 2024CHF 1.8tCHF 808.5bCHF 116.8b20.9x15.1x2.2x
Wed, 06 Nov 2024CHF 1.8tCHF 808.5bCHF 117.4b20.2x15.1x2.2x
Fri, 04 Oct 2024CHF 1.8tCHF 802.7bCHF 114.0b21.2x15.8x2.2x
Sun, 01 Sep 2024CHF 1.9tCHF 801.2bCHF 113.8b21.8x16.3x2.3x
Tue, 30 Jul 2024CHF 1.8tCHF 795.9bCHF 124.7b21.4x14.7x2.3x
Thu, 27 Jun 2024CHF 1.8tCHF 800.7bCHF 125.7b21.1x14.3x2.2x
Sat, 25 May 2024CHF 1.8tCHF 808.4bCHF 126.7b21.7x14.2x2.2x
Mon, 22 Apr 2024CHF 1.7tCHF 769.9bCHF 96.8b21.2x17.8x2.2x
Wed, 20 Mar 2024CHF 1.8tCHF 767.8bCHF 98.1b21.2x17.9x2.3x
Fri, 16 Feb 2024CHF 1.7tCHF 768.2bCHF 109.5b19.6x15.7x2.2x
Sun, 14 Jan 2024CHF 1.7tCHF 761.7bCHF 109.5b18.3x15.4x2.2x
Tue, 12 Dec 2023CHF 1.7tCHF 769.5bCHF 111.0b18.5x15.1x2.2x
Thu, 09 Nov 2023CHF 1.6tCHF 774.8bCHF 111.9b17.6x14.3x2.1x
Sat, 07 Oct 2023CHF 1.6tCHF 755.0bCHF 100.1b18.1x16.3x2.2x
Mon, 04 Sep 2023CHF 1.7tCHF 747.5bCHF 98.7b18.8x17x2.2x
Wed, 02 Aug 2023CHF 1.7tCHF 742.1bCHF 76.1b18.4x22.5x2.3x
Fri, 30 Jun 2023CHF 1.7tCHF 758.4bCHF 77.0b19.1x22.2x2.3x
Price to Earnings Ratio

22.2x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 77.0bTotal Revenue: CHF 758.4bTotal 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 19.6x 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 Market0.91%
Industrials3.96%
Financials2.07%
Materials1.07%
Tech0.77%
Consumer Discretionary0.45%
Consumer Staples-0.21%
Healthcare-0.51%
Real Estate-0.53%
Utilities-1.35%
Telecom-2.33%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 27.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.6% 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 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 7.0% 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 123.423.1%
+CHF 6.8b		29.3%PE20.6xHealthcare
ABBN ABBCHF 86.102.5%
+CHF 3.8b		85.9%PE39.6xIndustrials
UBSG UBS GroupCHF 40.881.7%
+CHF 2.1b		58.6%PE16.8xFinancials
NESN NestléCHF 80.220.8%
+CHF 1.6b		-2.1%PE22.8xConsumer Staples
SDZ Sandoz GroupCHF 70.505.5%
+CHF 1.6b		66.7%PE41.2xHealthcare
See more

Market Insights

Header cover image
Every trend sets off ripples. The further out you think, the less crowded it gets.
Continue reading
The gravity of the SpaceX IPO

Latest News

NESN
CHF 80.22
Nestlé
7D
0.8%
1Y
-2.1%
NOVN
CHF 123.42
Novartis
7D
3.1%
1Y
29.3%
STMN
CHF 102.70
Straumann Holding
7D
10.1%
1Y
-1.5%
Narrative Update • Jun 22

STMN: Raised Profitability Guidance And Refined Assumptions Support Balanced Forward Outlook

Straumann Holding's analyst price target has been adjusted by CHF 1, supported by analysts' updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E multiples, along with recent Street research that includes price target increases to CHF 120 at Barclays and smaller upward revisions at Morgan Stanley and Citi. Analyst Commentary Recent research around Straumann Holding shows a cluster of upward price target revisions, which signals that covering analysts are revisiting their assumptions on valuation, growth and execution risk.
ABBN
CHF 86.10
ABB
7D
2.5%
1Y
85.9%
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 84.82
Logitech International
7D
-2.8%
1Y
19.9%
SDZ
CHF 70.50
Sandoz Group
7D
5.5%
1Y
66.7%
Analysis Article • Jun 19

Sandoz Group (SWX:SDZ) Stock Could Be 2% Overvalued After Ljubljana Biosimilar Centre Launch

Sandoz Group (SWX:SDZ) has opened a new biosimilar development centre in Ljubljana, Slovenia, a fully digitally integrated US$99 million facility that expands its in house capabilities across drug substance and drug product development. See our latest analysis for Sandoz Group. Set against this investment in Ljubljana, Sandoz Group’s 1 day share price return declined 1.60% to CHF67.68, while its year to date share price return of 18.28% and 1 year total shareholder return of 57.12% suggest...
UBSG
CHF 40.88
UBS Group
7D
1.7%
1Y
58.6%
BEAN
CHF 916.00
BELIMO Holding
7D
-3.8%
1Y
15.7%
Analysis Article • Jun 19

BELIMO Holding (SWX:BEAN) Stock Could Be 10% Overvalued After Morgan Stanley Upgrade

Belimo Holding (SWX:BEAN) moved sharply higher after Morgan Stanley upgraded the stock, citing robust anticipated growth in the company’s data center cooling operations linked to expanding AI infrastructure demand. See our latest analysis for BELIMO Holding. At a share price of CHF965.5, BELIMO Holding has seen strong recent momentum, with a 30 day share price return of 27.54% and a 90 day return of 54.85%. The 1 year total shareholder return of 23.37% and 5 year total shareholder return of...
PGHN
CHF 653.80
Partners Group Holding
7D
-8.7%
1Y
-34.7%
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.
CFR
CHF 178.35
Compagnie Financière Richemont
7D
-2.4%
1Y
19.3%
LONN
CHF 515.20
Lonza Group
7D
4.2%
1Y
-9.6%
ZURN
CHF 584.80
Zurich Insurance Group
7D
1.4%
1Y
5.5%
New Narrative • Jun 16

Construction And Data Center Expansion Will Support Stronger Long Term Insurance Earnings

Catalysts About Zurich Insurance Group Zurich Insurance Group is a global insurer offering property and casualty, life insurance and related services across Commercial, Retail, Life and Farmers businesses. What are the underlying business or industry changes driving this perspective?
AMRZ
CHF 43.31
Amrize
7D
-1.9%
1Y
2.6%
KNIN
CHF 183.95
Kuehne + Nagel International
7D
-1.1%
1Y
4.5%
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.
DESN
CHF 278.00
Dottikon ES Holding
7D
-6.2%
1Y
-3.6%
UHR
CHF 204.30
Swatch Group
7D
-2.9%
1Y
55.2%