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Swiss (SMI) Market Analysis & Valuation

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies206
  • 7D-1.9%
  • 3M0.5%
  • 1Y0.2%
  • YTD-2.5%

Over the last 7 days, the market has dropped 1.9%, driven by a decline of 3.8% in the Healthcare sector. In the last 12 months the market has been flat overall. 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
Sat, 14 Mar 2026CHF 1.9tCHF 779.9bCHF 109.4b19.8x17.6x2.5x
Mon, 09 Feb 2026CHF 2.0tCHF 789.8bCHF 117.7b20.9x17.1x2.6x
Wed, 07 Jan 2026CHF 2.0tCHF 797.7bCHF 114.9b20.5x17.5x2.5x
Fri, 05 Dec 2025CHF 1.9tCHF 806.3bCHF 115.1b19.6x16.9x2.4x
Sun, 02 Nov 2025CHF 1.9tCHF 800.7bCHF 114.3b19.3x16.3x2.3x
Tue, 30 Sep 2025CHF 1.8tCHF 774.5bCHF 90.3b19.2x20.2x2.4x
Thu, 28 Aug 2025CHF 1.9tCHF 775.7bCHF 90.0b20.2x20.7x2.4x
Sat, 26 Jul 2025CHF 1.8tCHF 791.0bCHF 107.0b20.3x17.2x2.3x
Mon, 23 Jun 2025CHF 1.8tCHF 782.1bCHF 106.5b20x16.8x2.3x
Wed, 21 May 2025CHF 1.8tCHF 787.5bCHF 106.7b20.2x17.3x2.3x
Fri, 18 Apr 2025CHF 1.7tCHF 833.2bCHF 156.9b18.6x10.9x2.1x
Sun, 16 Mar 2025CHF 1.9tCHF 849.6bCHF 158.8b19.7x11.9x2.2x
Tue, 11 Feb 2025CHF 1.9tCHF 823.3bCHF 116.8b22x16.1x2.3x
Thu, 09 Jan 2025CHF 1.8tCHF 818.5bCHF 117.8b21x15.1x2.2x
Sat, 07 Dec 2024CHF 1.8tCHF 808.1bCHF 116.8b20.9x15.1x2.2x
Mon, 04 Nov 2024CHF 1.8tCHF 810.6bCHF 117.6b20.5x15.2x2.2x
Wed, 02 Oct 2024CHF 1.8tCHF 800.7bCHF 113.7b21.5x15.9x2.3x
Fri, 30 Aug 2024CHF 1.8tCHF 800.3bCHF 113.7b21.7x16.3x2.3x
Sun, 28 Jul 2024CHF 1.8tCHF 795.1bCHF 124.6b21.6x14.7x2.3x
Tue, 25 Jun 2024CHF 1.8tCHF 799.9bCHF 125.5b21.6x14.5x2.3x
Thu, 23 May 2024CHF 1.8tCHF 804.7bCHF 126.8b21.7x14.2x2.2x
Sat, 20 Apr 2024CHF 1.7tCHF 767.9bCHF 96.9b20.8x17.7x2.2x
Mon, 18 Mar 2024CHF 1.8tCHF 766.4bCHF 97.8b21.1x18x2.3x
Wed, 14 Feb 2024CHF 1.7tCHF 770.2bCHF 109.8b19.4x15.4x2.2x
Fri, 12 Jan 2024CHF 1.7tCHF 761.8bCHF 109.6b18.1x15.3x2.2x
Sun, 10 Dec 2023CHF 1.7tCHF 769.6bCHF 111.0b18.5x15x2.2x
Tue, 07 Nov 2023CHF 1.6tCHF 770.7bCHF 112.7b17.8x14.1x2.1x
Thu, 05 Oct 2023CHF 1.6tCHF 756.8bCHF 100.5b18x16.3x2.2x
Sat, 02 Sep 2023CHF 1.7tCHF 747.5bCHF 98.6b19.1x17x2.2x
Mon, 31 Jul 2023CHF 1.7tCHF 740.8bCHF 77.3b18.3x22.2x2.3x
Wed, 28 Jun 2023CHF 1.6tCHF 727.1bCHF 71.1b18.5x23.2x2.3x
Fri, 26 May 2023CHF 1.7tCHF 787.7bCHF 82.7b18.8x21x2.2x
Sun, 23 Apr 2023CHF 1.8tCHF 774.3bCHF 69.1b19.4x25.8x2.3x
Tue, 21 Mar 2023CHF 1.7tCHF 783.6bCHF 70.0b19.5x23.9x2.1x
Price to Earnings Ratio

23.9x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 70.0bTotal Revenue: CHF 783.6bTotal 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-1.92%
Tech2.59%
Utilities1.94%
Consumer Staples0.037%
Financials-0.25%
Telecom-0.74%
Industrials-1.04%
Real Estate-2.33%
Consumer Discretionary-2.41%
Materials-3.49%
Healthcare-3.78%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 21.0x.
    • 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 7.8x.
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
NESN NestléCHF 80.870.8%
+CHF 1.6b		-9.3%PE23xConsumer Staples
ZURN Zurich Insurance GroupCHF 538.201.6%
+CHF 1.3b		-10.7%PE14.9xFinancials
ACLN Accelleron IndustriesCHF 74.5010.1%
+CHF 643.2m		69.5%PE45.3xIndustrials
SREN Swiss ReCHF 129.251.7%
+CHF 636.6m		-12.3%PE10.4xFinancials
LOGN Logitech InternationalCHF 73.404.7%
+CHF 480.8m		-7.5%PE19.1xTech
See more

Market Insights

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Why international stocks are starting to outpace the U.S.
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Stella Ong
From Europe to Asia, global markets surged in 2025 while U.S. earnings growth became more concentrated. Early signs suggest this might continue.
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What the next 25 years will look like 🔮

Latest News

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1Y
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HOLN
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LISN
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1Y
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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.
ROG
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1Y
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ACLN
CHF 74.50
Accelleron Industries
7D
10.1%
1Y
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ACLN: Higher Margin Expectations Will Support A More Optimistic Future P/E

Analysts have raised their price target on Accelleron Industries to CHF 70 from CHF 62, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Price target moves to CHF 70 signal that bullish analysts see the updated valuation framework as more aligned with their current assumptions on fair value, discount rate, revenue growth, profit margin and future P/E.
HBAN
CHF 192.00
Helvetia Baloise Holding
7D
2.2%
1Y
9.1%

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.
ZURN
CHF 538.20
Zurich Insurance Group
7D
1.6%
1Y
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ZURN: Future Returns Will Rely On Dividend Strength And Moderating P/E Assumptions

Zurich Insurance Group's analyst price target has been adjusted from about CHF 575 to CHF 568, even as some analysts have lifted their own targets (for example, a move to CHF 656), reflecting updated views on revenue, margins and future P/E assumptions. Analyst Commentary Bullish analysts lifting their price targets toward CHF 656 are signaling confidence that Zurich Insurance Group's earnings profile can support a higher valuation multiple over time, even with a central price target now closer to CHF 568.
LOGN
CHF 73.40
Logitech International
7D
4.7%
1Y
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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).
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Swiss Re
7D
1.7%
1Y
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GALD
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Galderma Group
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-7.8%
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NESN
CHF 80.87
Nestlé
7D
0.8%
1Y
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NESN: Portfolio Review And Category Exits Are Expected To Support 2026 Execution

Analysts have nudged their average price expectations for Nestlé slightly higher to a range around CHF 75 to CHF 77, reflecting recent target increases and updated views on revenue growth, margins, and the stock's forward P/E assumptions. Analyst Commentary Recent research shows a mixed but generally balanced stance on Nestlé, with price targets clustered in the mid CHF 70s and differing views on how quickly the investment case could improve.
BCVN
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Banque Cantonale Vaudoise
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2.0%
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CFR
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