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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies204
  • 7D2.5%
  • 3M5.3%
  • 1Y11.0%
  • YTD3.5%

The Financials sector has led the market, which has gained 2.5%. As for the past 12 months, the market is up 11%. Looking forward, earnings are forecast to grow by 11% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Jun 2026CHF 2.0tCHF 776.6bCHF 104.2b20.5x19.6x2.6x
Thu, 14 May 2026CHF 2.0tCHF 772.8bCHF 103.1b20.1x19.2x2.6x
Sat, 11 Apr 2026CHF 2.0tCHF 780.3bCHF 109.5b20.9x18x2.5x
Mon, 09 Mar 2026CHF 2.0tCHF 774.6bCHF 108.7b21.1x18x2.5x
Wed, 04 Feb 2026CHF 2.0tCHF 788.8bCHF 117.7b20.7x17x2.5x
Fri, 02 Jan 2026CHF 2.0tCHF 797.2bCHF 114.8b20.3x17.3x2.5x
Sun, 30 Nov 2025CHF 1.9tCHF 806.4bCHF 115.1b19.6x16.8x2.4x
Tue, 28 Oct 2025CHF 1.9tCHF 770.7bCHF 90.2b19.5x21x2.5x
Thu, 25 Sep 2025CHF 1.8tCHF 773.7bCHF 90.3b19.3x20.3x2.4x
Sat, 23 Aug 2025CHF 1.9tCHF 775.7bCHF 90.0b20.8x20.8x2.4x
Mon, 21 Jul 2025CHF 1.8tCHF 787.6bCHF 107.5b20.4x17x2.3x
Wed, 18 Jun 2025CHF 1.8tCHF 781.3bCHF 106.4b20.1x16.9x2.3x
Fri, 16 May 2025CHF 1.8tCHF 788.7bCHF 106.3b20.2x17.1x2.3x
Sun, 13 Apr 2025CHF 1.7tCHF 832.0bCHF 156.8b18.2x10.6x2x
Tue, 11 Mar 2025CHF 1.9tCHF 849.4bCHF 158.3b19.7x12.1x2.2x
Thu, 06 Feb 2025CHF 1.9tCHF 820.4bCHF 116.3b21.4x15.9x2.3x
Sat, 04 Jan 2025CHF 1.7tCHF 817.9bCHF 117.8b21x14.8x2.1x
Mon, 02 Dec 2024CHF 1.8tCHF 809.2bCHF 116.9b20.4x15x2.2x
Wed, 30 Oct 2024CHF 1.8tCHF 808.8bCHF 115.9b20.9x15.6x2.2x
Fri, 27 Sep 2024CHF 1.8tCHF 797.8bCHF 114.7b21.4x15.9x2.3x
Sun, 25 Aug 2024CHF 1.8tCHF 801.2bCHF 113.6b22.1x16.2x2.3x
Tue, 23 Jul 2024CHF 1.8tCHF 799.0bCHF 125.9b21.4x14.6x2.3x
Thu, 20 Jun 2024CHF 1.8tCHF 796.5bCHF 125.0b21.8x14.5x2.3x
Sat, 18 May 2024CHF 1.8tCHF 802.3bCHF 126.6b21.6x14.3x2.3x
Mon, 15 Apr 2024CHF 1.7tCHF 768.4bCHF 97.0b21.6x17.9x2.3x
Wed, 13 Mar 2024CHF 1.8tCHF 775.5bCHF 99.0b20.9x17.8x2.3x
Fri, 09 Feb 2024CHF 1.7tCHF 766.3bCHF 109.1b19.5x15.5x2.2x
Sun, 07 Jan 2024CHF 1.7tCHF 760.9bCHF 109.4b18.2x15.4x2.2x
Tue, 05 Dec 2023CHF 1.6tCHF 767.8bCHF 110.7b18.5x14.9x2.1x
Thu, 02 Nov 2023CHF 1.6tCHF 761.6bCHF 101.4b17.8x15.4x2.1x
Sat, 30 Sep 2023CHF 1.6tCHF 758.5bCHF 100.4b18.6x16.4x2.2x
Mon, 28 Aug 2023CHF 1.7tCHF 747.0bCHF 74.9b18.9x22.1x2.2x
Wed, 26 Jul 2023CHF 1.7tCHF 751.5bCHF 77.3b18.2x22.2x2.3x
Fri, 23 Jun 2023CHF 1.7tCHF 758.1bCHF 77.0b18.8x22.2x2.3x
Price to Earnings Ratio

22.2x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 77.0bTotal Revenue: CHF 758.1bTotal 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 19.6x 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 Market2.51%
Consumer Discretionary9.07%
Materials6.10%
Financials3.08%
Consumer Staples2.84%
Real Estate2.13%
Healthcare1.45%
Industrials0.68%
Telecom0.34%
Tech-0.16%
Utilities-2.74%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 28.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 21.0% 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 21% 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
CFR Compagnie Financière RichemontCHF 180.759.6%
+CHF 9.3b		18.6%PE33.3xConsumer Discretionary
NESN NestléCHF 79.113.3%
+CHF 6.4b		-4.7%PE22.5xConsumer Staples
NOVN NovartisCHF 120.222.5%
+CHF 5.3b		24.7%PE20.5xHealthcare
UBSG UBS GroupCHF 39.514.4%
+CHF 5.1b		51.3%PE16.6xFinancials
ZURN Zurich Insurance GroupCHF 572.404.3%
+CHF 3.6b		1.7%PE15.8xFinancials
See more

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NOVN
CHF 120.22
Novartis
7D
2.5%
1Y
24.7%
ROP
CHF 326.10
Roche Holding
7D
1.1%
1Y
24.0%
SOON
CHF 201.00
Sonova Holding
7D
-2.6%
1Y
-19.6%
NESN
CHF 79.11
Nestlé
7D
3.3%
1Y
-4.7%
LOGN
CHF 88.56
Logitech International
7D
-3.0%
1Y
25.4%
UBSG
CHF 39.51
UBS Group
7D
4.4%
1Y
51.3%
GIVN
CHF 3,198.00
Givaudan
7D
9.2%
1Y
-22.0%
Narrative Update • Jun 09

GIVN: Pricing Power And Eurofragance Deal Will Support Future Margin Resilience

The analyst price target for Givaudan has been adjusted slightly to CHF 3,415 from CHF 3,447. This reflects a blend of cautious tweaks to growth and discount rate assumptions.
LISN
CHF 93,400.00
Chocoladefabriken Lindt & Sprüngli
7D
-1.2%
1Y
-28.7%
Narrative Update • Jun 09

LISN: Recent Derating And Buyback Will Reset Premium Risk Reward Profile

Analysts have trimmed their fair value estimate for Chocoladefabriken Lindt & Sprüngli from about CHF 116,834 to CHF 115,178, reflecting lower Street price targets in the CHF 100,000 to CHF 108,000 range and a view that the stock’s risk reward now looks more balanced after a recent de rating. Analyst Commentary Street research has shifted toward a more balanced stance on Chocoladefabriken Lindt & Sprüngli, with several firms cutting price targets while reassessing where the stock now sits on risk versus potential reward.
HOLN
CHF 76.96
Holcim
7D
6.0%
1Y
-18.6%
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.
ZURN
CHF 572.40
Zurich Insurance Group
7D
4.3%
1Y
1.7%
Narrative Update • Jun 05

ZURN: Future Returns Will Reflect Beazley Integration And Persistent Cyclical Pricing Pressures

Analysts have modestly raised the fair value estimate for Zurich Insurance Group, with the updated price target moving from CHF 574.68 to CHF 580.51 as they factor in slightly higher projected revenue growth, stable margins and neutral ratings that acknowledge both new growth opportunities and ongoing pricing pressures. Analyst Commentary Recent research coverage has coalesced around neutral ratings, with analysts broadly agreeing that Zurich Insurance Group offers a balanced mix of growth opportunities and execution risks.
ALC
CHF 52.86
Alcon
7D
-0.8%
1Y
-24.3%
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.
SUN
CHF 143.60
Sulzer
7D
-5.8%
1Y
-5.9%
Narrative Update • Jun 02

SUN: Stable Assumptions And Margins Will Support Future Upside

Analysts have kept their CHF 220.00 price target for Sulzer unchanged, pointing to relatively stable fair value assumptions along with slight adjustments to the discount rate, revenue growth, profit margin and future P/E inputs. What's in the News No recent company specific news items were provided in the available sources, so there are currently no discrete events to highlight for Sulzer.
BKW
CHF 138.00
BKW
7D
-4.4%
1Y
-20.2%
Narrative Update • Jun 02

BKW: Neutral Outlook Will Center On CHF 160 And German Storage Execution

Analysts have kept their CHF price target for BKW unchanged, citing steady assumptions for fair value at CHF 164.48, a discount rate of 3.94%, revenue growth of 3.38%, a profit margin of 10.02% and a future P/E of 20.19x. What's in the News Trianel, BKW and Luxcara secured permits for a 900 MW battery storage project in Germany, expanding large scale energy storage capacity to support renewable integration (source: recent project announcement).
KNIN
CHF 188.05
Kuehne + Nagel International
7D
-2.5%
1Y
4.0%
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.
SFZN
CHF 72.40
Siegfried Holding
7D
-6.6%
1Y
-22.6%
Narrative Update • Jun 01

SFZN: Steady 2026 Guidance And Refined Views Will Support Future Upside

Analysts have modestly raised their average price target on Siegfried Holding by CHF 4 to reflect updated views on valuation, with one firm lifting its target by CHF 4 while another recently adjusted its target down to CHF 96, keeping expectations broadly in line with prior assumptions. Analyst Commentary Bullish Takeaways Bullish analysts see room for upside in the share price, reflected in the CHF 4 upward adjustment.
CFR
CHF 180.75
Compagnie Financière Richemont
7D
9.6%
1Y
18.6%