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Swiss (SMI) Market Analysis & Valuation

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies206
  • 7D-1.2%
  • 3M-0.6%
  • 1Y-0.8%
  • YTD-2.5%

Over the last 7 days, the market has dropped 1.2%, driven by a pullback of 3.2% in the Healthcare sector. In the last 12 months the market has been flat overall. 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, 17 Mar 2026CHF 1.9tCHF 779.7bCHF 109.5b19.8x17.5x2.5x
Thu, 12 Feb 2026CHF 2.0tCHF 788.1bCHF 117.5b20.9x17.2x2.6x
Sat, 10 Jan 2026CHF 2.0tCHF 799.6bCHF 115.2b20.5x17.6x2.5x
Mon, 08 Dec 2025CHF 1.9tCHF 800.9bCHF 114.7b19.3x16.9x2.4x
Wed, 05 Nov 2025CHF 1.9tCHF 801.9bCHF 114.6b19.1x16.3x2.3x
Fri, 03 Oct 2025CHF 1.9tCHF 774.8bCHF 90.4b19.4x20.8x2.4x
Sun, 31 Aug 2025CHF 1.9tCHF 775.5bCHF 90.1b19.9x20.6x2.4x
Tue, 29 Jul 2025CHF 1.8tCHF 794.5bCHF 108.5b20.5x16.9x2.3x
Thu, 26 Jun 2025CHF 1.8tCHF 787.5bCHF 106.9b20x16.7x2.3x
Sat, 24 May 2025CHF 1.8tCHF 785.0bCHF 106.4b20.1x17.1x2.3x
Mon, 21 Apr 2025CHF 1.7tCHF 832.5bCHF 156.8b18.6x10.9x2.1x
Wed, 19 Mar 2025CHF 1.9tCHF 849.2bCHF 158.5b19.9x12.1x2.3x
Fri, 14 Feb 2025CHF 1.9tCHF 823.1bCHF 116.8b22.2x16.4x2.3x
Sun, 12 Jan 2025CHF 1.8tCHF 820.2bCHF 118.0b20.8x15x2.2x
Tue, 10 Dec 2024CHF 1.8tCHF 808.0bCHF 116.8b20.8x15x2.2x
Thu, 07 Nov 2024CHF 1.8tCHF 812.1bCHF 117.8b20.1x15x2.2x
Sat, 05 Oct 2024CHF 1.8tCHF 804.5bCHF 114.1b21.3x15.8x2.2x
Mon, 02 Sep 2024CHF 1.9tCHF 801.2bCHF 113.8b21.8x16.3x2.3x
Wed, 31 Jul 2024CHF 1.8tCHF 795.2bCHF 125.8b21.7x14.6x2.3x
Fri, 28 Jun 2024CHF 1.8tCHF 801.4bCHF 125.8b21x14.3x2.2x
Sun, 26 May 2024CHF 1.8tCHF 808.4bCHF 126.7b21.7x14.2x2.2x
Tue, 23 Apr 2024CHF 1.7tCHF 769.9bCHF 96.8b21.2x17.8x2.2x
Thu, 21 Mar 2024CHF 1.8tCHF 763.2bCHF 97.6b21x17.9x2.3x
Sat, 17 Feb 2024CHF 1.7tCHF 768.6bCHF 109.5b19.6x15.7x2.2x
Mon, 15 Jan 2024CHF 1.7tCHF 761.7bCHF 109.5b18.3x15.4x2.2x
Wed, 13 Dec 2023CHF 1.7tCHF 768.5bCHF 110.8b18.5x15.1x2.2x
Fri, 10 Nov 2023CHF 1.6tCHF 775.3bCHF 112.0b17.6x14.3x2.1x
Sun, 08 Oct 2023CHF 1.6tCHF 764.2bCHF 100.7b18.1x16.2x2.1x
Tue, 05 Sep 2023CHF 1.7tCHF 747.5bCHF 98.7b18.8x17x2.2x
Thu, 03 Aug 2023CHF 1.7tCHF 742.6bCHF 76.1b18.2x22.3x2.3x
Sat, 01 Jul 2023CHF 1.7tCHF 757.3bCHF 76.9b19.5x22.5x2.3x
Mon, 29 May 2023CHF 1.8tCHF 787.2bCHF 82.7b19.1x21.2x2.2x
Wed, 26 Apr 2023CHF 1.8tCHF 788.0bCHF 81.7b19.6x21.9x2.3x
Fri, 24 Mar 2023CHF 1.7tCHF 781.1bCHF 69.4b19.7x24.3x2.2x
Price to Earnings Ratio

24.3x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 69.4bTotal Revenue: CHF 781.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Market Price to Earnings3Y Average 17.2x202420252026
Current Market PE
  • Investors are relatively neutral on the Swiss market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.2x.
Past Earnings Growth
  • The earnings for Swiss listed companies have grown 16% 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 Market-1.16%
Tech3.52%
Utilities1.91%
Consumer Discretionary0.58%
Industrials0.46%
Consumer Staples0.22%
Financials0.019%
Telecom-1.30%
Real Estate-1.82%
Materials-1.96%
Healthcare-3.23%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 21.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.9% which is higher than its past year's earnings decline of 10.6% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 7.7x.
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 5.7% per year.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 9.7% 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
ZURN Zurich Insurance GroupCHF 547.603.4%
+CHF 2.7b		-9.8%PE15.3xFinancials
ABBN ABBCHF 66.441.8%
+CHF 2.1b		34.7%PE33.6xIndustrials
NESN NestléCHF 80.610.7%
+CHF 1.4b		-10.7%PE23xConsumer Staples
ACLN Accelleron IndustriesCHF 76.4515.3%
+CHF 953.1m		69.5%PE46.7xIndustrials
SREN Swiss ReCHF 130.001.6%
+CHF 607.1m		-12.5%PE10.5xFinancials
See more

Market Insights

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Latest News

ACLN
CHF 76.45
Accelleron Industries
7D
15.3%
1Y
69.5%
ZURN
CHF 547.60
Zurich Insurance Group
7D
3.4%
1Y
-9.8%
NOVN
CHF 121.44
Novartis
7D
-3.1%
1Y
23.2%
NESN
CHF 80.61
Nestlé
7D
0.7%
1Y
-10.7%

NESN: Portfolio Review And Category Exits Are Expected To Shape 2026 Execution

Nestlé’s analyst price targets have inched higher, with recent moves to CHF 75 and CHF 77 contributing to a small uplift in our fair value estimate to CHF 87.50, as analysts cite updated estimates following recent results and steady expectations for revenue growth and margins. Analyst Commentary Recent research shows a mix of cautious and constructive views on Nestlé, with small shifts in price targets reflecting different opinions on valuation, growth and execution risk.
AVOL
CHF 48.18
Avolta
7D
8.1%
1Y
23.5%
LISN
CHF 112,800.00
Chocoladefabriken Lindt & Sprüngli
7D
-7.8%
1Y
-1.4%

LISN: Premium Brand And Margin Outlook Will Support Future Re Rating

We trim our fair value estimate for Chocoladefabriken Lindt & Sprüngli to CHF 137,000 from CHF 144,624, reflecting a series of lower analyst price targets in the CHF 100,000 to CHF 108,500 range as they reassess the stock's premium valuation against recent cocoa price moves and updated margin expectations. Analyst Commentary Recent Street research has tilted cautious, with several high profile houses revisiting their assumptions on Chocoladefabriken Lindt & Sprüngli as cocoa markets and margin expectations are reassessed.
SGSN
CHF 88.52
SGS
7D
-3.5%
1Y
-0.2%

SGSN: Mixed Rating Shifts And CHF 102 Upside Will Frame 2026 Balance

Narrative Update on SGS The analyst price target for SGS has been revised higher in line with recent Street moves. Citi has lifted its target to CHF 112 and Morgan Stanley has edged its target up to CHF 102.
ROG
CHF 322.30
Roche Holding
7D
-3.0%
1Y
3.6%
HBAN
CHF 195.60
Helvetia Baloise Holding
7D
4.9%
1Y
10.2%

HBAN: Revenue Assumptions And Margin Pressures Will Shape A Balanced Outlook

Analysts have maintained their CHF190.00 price target on Helvetia Baloise Holding, citing adjustments in revenue growth assumptions, profit margin expectations, and the projected forward P/E as reasons for keeping their view unchanged. Valuation Changes Fair Value: CHF190.00 is unchanged, indicating the assessed intrinsic value per share remains the same as before.
SIKA
CHF 133.75
Sika
7D
-3.5%
1Y
-42.5%

SIKA: Execution On Efficiency And AI Partnership Will Shape Future P/E

Our Sika fair value remains at CHF 140, reflecting lower Street price targets clustered around CHF 140 to CHF 170 and analyst updates to growth, margins, and the assumed future P/E multiple. Analyst Commentary Recent Street research on Sika has converged around a tighter range of price targets, broadly between CHF 140 and CHF 190.
ALC
CHF 61.16
Alcon
7D
-2.5%
1Y
-22.5%

ALC: Share Repurchases And New Contact Lenses Will Support Upside

Analysts have reduced their Alcon price target to CHF 92.37 from CHF 93.18, reflecting updated views on a slightly higher discount rate, modestly lower revenue growth assumptions, improved profit margin expectations and a lower future P/E multiple. What's in the News Alcon announced the U.S. launch of TOTAL30 Multifocal for Astigmatism, described as the only multifocal toric contact lens with Water Gradient Technology and aimed at patients whose vision needs are shifting toward presbyopia, with lenses now available nationwide through Eye Care Professionals (company announcement).
LOGN
CHF 74.28
Logitech International
7D
4.2%
1Y
-6.1%

LOGN: Future Returns Will Be Led By AI Meeting Solutions

Analysts have trimmed their price target on Logitech International to CHF 89.84 from CHF 93.34, reflecting slightly lower revenue growth expectations and a modestly higher discount rate that are only partly offset by a small uplift in projected profit margins. What's in the News Logitech G introduced the G325 LIGHTSPEED Wireless Gaming Headset, a US$79.99 wireless model positioned to offer LIGHTSPEED performance, 24 bit audio, and all day comfort in a minimalist design for PC, console, and mobile users (Product related announcement).
SREN
CHF 130.00
Swiss Re
7D
1.6%
1Y
-12.5%
GALD
CHF 145.30
Galderma Group
7D
-6.8%
1Y
58.1%
ABBN
CHF 66.44
ABB
7D
1.8%
1Y
34.7%
LONN
CHF 482.30
Lonza Group
7D
-2.9%
1Y
-14.5%