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Swiss (SMI) Market Analysis & Valuation

UpdatedJun 29, 2026
DataAggregated Company Financials
Companies204
  • 7D2.2%
  • 3M10.6%
  • 1Y16.0%
  • YTD6.3%

Over the last 7 days, the market has risen 2.2%, driven by gains of 5.3% in the Healthcare sector. The market is up 16% over the last 12 months. 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, 30 Jun 2026CHF 2.1tCHF 780.5bCHF 104.7b20.3x20.1x2.7x
Thu, 28 May 2026CHF 2.0tCHF 773.7bCHF 103.8b20.5x19.6x2.6x
Sat, 25 Apr 2026CHF 2.0tCHF 780.7bCHF 109.9b20.2x18x2.5x
Mon, 23 Mar 2026CHF 1.8tCHF 779.4bCHF 109.4b19.7x16.9x2.4x
Wed, 18 Feb 2026CHF 2.0tCHF 789.6bCHF 117.6b20.5x17.4x2.6x
Fri, 16 Jan 2026CHF 2.0tCHF 800.2bCHF 115.2b20.8x17.7x2.5x
Sun, 14 Dec 2025CHF 1.9tCHF 798.4bCHF 114.4b19.7x16.9x2.4x
Tue, 11 Nov 2025CHF 1.9tCHF 804.0bCHF 114.4b19x16.4x2.3x
Thu, 09 Oct 2025CHF 1.9tCHF 775.9bCHF 90.5b19.8x21.1x2.5x
Sat, 06 Sep 2025CHF 1.9tCHF 774.7bCHF 90.1b19.5x20.8x2.4x
Mon, 04 Aug 2025CHF 1.8tCHF 774.3bCHF 89.8b20.5x20.3x2.4x
Wed, 02 Jul 2025CHF 1.8tCHF 783.8bCHF 106.6b20.4x16.9x2.3x
Fri, 30 May 2025CHF 1.8tCHF 785.8bCHF 106.4b20.1x17.1x2.3x
Sun, 27 Apr 2025CHF 1.8tCHF 837.2bCHF 157.2b19x11.2x2.1x
Tue, 25 Mar 2025CHF 1.9tCHF 850.1bCHF 158.9b20.1x12x2.2x
Thu, 20 Feb 2025CHF 1.9tCHF 821.0bCHF 116.2b21.9x16.5x2.3x
Sat, 18 Jan 2025CHF 1.8tCHF 819.8bCHF 118.0b21.1x15.2x2.2x
Mon, 16 Dec 2024CHF 1.7tCHF 813.1bCHF 117.3b20.7x14.9x2.1x
Wed, 13 Nov 2024CHF 1.7tCHF 814.5bCHF 117.5b19.8x14.9x2.1x
Fri, 11 Oct 2024CHF 1.8tCHF 803.3bCHF 114.0b21.6x15.9x2.3x
Sun, 08 Sep 2024CHF 1.8tCHF 800.3bCHF 113.7b21.1x15.7x2.2x
Tue, 06 Aug 2024CHF 1.7tCHF 797.0bCHF 135.5b21.2x12.8x2.2x
Thu, 04 Jul 2024CHF 1.8tCHF 802.8bCHF 125.9b21.4x14.4x2.3x
Sat, 01 Jun 2024CHF 1.8tCHF 803.7bCHF 126.0b22x14.3x2.2x
Mon, 29 Apr 2024CHF 1.7tCHF 800.2bCHF 125.5b21.3x13.7x2.2x
Wed, 27 Mar 2024CHF 1.8tCHF 768.1bCHF 98.4b21.5x18x2.3x
Fri, 23 Feb 2024CHF 1.7tCHF 768.8bCHF 109.5b20.3x15.8x2.2x
Sun, 21 Jan 2024CHF 1.7tCHF 766.5bCHF 110.4b18x15.1x2.2x
Tue, 19 Dec 2023CHF 1.7tCHF 766.9bCHF 110.4b18.7x15.3x2.2x
Thu, 16 Nov 2023CHF 1.6tCHF 772.9bCHF 111.5b17.7x14.5x2.1x
Sat, 14 Oct 2023CHF 1.6tCHF 761.2bCHF 100.3b18.1x16.3x2.1x
Mon, 11 Sep 2023CHF 1.7tCHF 749.8bCHF 99.4b18.8x16.7x2.2x
Wed, 09 Aug 2023CHF 1.7tCHF 742.5bCHF 75.3b18.4x22.3x2.3x
Fri, 07 Jul 2023CHF 1.7tCHF 757.4bCHF 76.9b18.8x21.9x2.2x
Price to Earnings Ratio

21.9x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 76.9bTotal Revenue: CHF 757.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Market Price to Earnings3Y Average 16.7x202420252026
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 20.0x which is higher than its 3-year average PE of 16.7x.
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 Market2.19%
Consumer Staples6.24%
Healthcare5.44%
Consumer Discretionary3.59%
Real Estate0.44%
Telecom-0.06%
Financials-0.24%
Utilities-0.76%
Materials-1.19%
Industrials-1.78%
Tech-5.65%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 25.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.7% which is higher than its past year's earnings decline of 6.1% 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 7.1% 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
ROP Roche HoldingCHF 338.806.3%
+CHF 16.1b		31.1%PE20.9xHealthcare
NESN NestléCHF 84.306.7%
+CHF 13.6b		6.9%PE24xConsumer Staples
NOVN NovartisCHF 126.204.9%
+CHF 10.8b		31.2%PE21.1xHealthcare
CFR Compagnie Financière RichemontCHF 189.904.2%
+CHF 4.5b		27.1%PE35xConsumer Discretionary
GALD Galderma GroupCHF 185.807.0%
+CHF 2.8b		61.6%PE88.1xHealthcare
See more

Market Insights

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Latest News

ROP
CHF 338.80
Roche Holding
7D
6.3%
1Y
31.1%
AMRZ
CHF 42.76
Amrize
7D
-2.6%
1Y
8.0%
UBSG
CHF 39.98
UBS Group
7D
-3.3%
1Y
48.9%
SDZ
CHF 73.20
Sandoz Group
7D
5.4%
1Y
68.6%
Narrative Update • Jun 26

SDZ: Mixed Rating Shifts And Biosimilar Hub Investments Will Shape Future P/E

The analyst price target for Sandoz Group has been revised to CHF 70.74, reflecting updated views on fair value, revenue growth, profit margins, and future P/E after a mix of recent target cuts, target hikes, and an upgrade from major banks. Analyst Commentary Recent Street research on Sandoz Group shows a mix of optimism and restraint, with major banks adjusting their views on valuation, execution, and growth expectations.
NOVN
CHF 126.20
Novartis
7D
4.9%
1Y
31.2%
Narrative Update • Jun 26

NOVN: Oncology Pipeline Advances Will Drive Future Upside Potential

Analysts have revised their fair value estimate for Novartis to CHF144.47 from CHF138.41, reflecting updated assumptions around revenue growth, the discount rate, and future P/E. What’s in the News for Novartis Novartis agreed to a collaboration with Antares Therapeutics worth up to US$1.9b, including a US$105m upfront payment and potential US$1.8b in milestones, to discover and develop small molecule oncology therapies targeting historically undruggable cancers.
HOLN
CHF 72.22
Holcim
7D
-5.5%
1Y
22.6%
LONN
CHF 539.60
Lonza Group
7D
7.8%
1Y
-4.5%
GIVN
CHF 3,412.00
Givaudan
7D
5.0%
1Y
-11.2%
Narrative Update • Jun 25

GIVN: Pricing Power And AI Beauty Push Will Shape Future Margin Resilience

Givaudan's analyst fair value estimate has been adjusted modestly higher to CHF 3,468 from CHF 3,415, reflecting analysts' updated assumptions for slightly stronger revenue growth, a similar discount rate, a broadly unchanged profit margin profile, and a small increase in expected future P/E multiples, alongside a recent series of price target revisions across the Street that now cluster in the CHF 2,900 to CHF 3,500 range. Analyst Commentary Recent research on Givaudan points to a mixed but generally constructive view, with several firms adjusting price targets in a relatively tight CHF 2,900 to CHF 3,500 band and a blend of rating upgrades and downgrades.
CFR
CHF 189.90
Compagnie Financière Richemont
7D
4.2%
1Y
27.1%
Analysis Article • Jun 25

Is Now The Time To Look At Buying Compagnie Financière Richemont SA (VTX:CFR)?

Compagnie Financière Richemont SA ( VTX:CFR ) led the SWX gainers with a relatively large price hike in the past couple...
NESN
CHF 84.30
Nestlé
7D
6.7%
1Y
6.9%
Narrative Update • Jun 24

NESN: Gradual Restructuring And Automation Efforts Will Shape 2026 Execution

Analysts have raised their price target on Nestlé by CHF 2 to reflect updated views on the company, citing recent research that points to supportive fundamentals and valuation assumptions that remain broadly unchanged. Analyst Commentary Recent Street research on Nestlé points to a cluster of price target adjustments and a fresh rating, giving investors more context on how experts are thinking about valuation, execution and growth potential for the company.
ACLN
CHF 79.70
Accelleron Industries
7D
-7.3%
1Y
42.8%
Narrative Update • Jun 24

ACLN: Elevated P/E And Modest Assumptions Will Likely Limit Future Returns

Analysts have nudged their fair value estimate for Accelleron Industries slightly higher from CHF 63.82 to CHF 64.51, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News for Accelleron Industries Accelleron Industries AG approved a dividend of CHF 1.50 per share for the 2025 financial year at its Annual General Meeting 2026 held on April 28, 2026, compared with CHF 1.25 per share for the previous year (Key Developments).
VACN
CHF 684.60
VAT Group
7D
-3.1%
1Y
104.5%
Narrative Update • Jun 23

VACN: Higher Cycle Hopes Will Confront Rich Multiple And Execution Risks

The updated fair value for VAT Group has been increased to CHF 617 from CHF 603. This reflects analysts' higher price targets in recent research, based on their rationale around slightly stronger revenue growth, profit margins, and a marginally lower discount rate.
ABBN
CHF 85.44
ABB
7D
-3.5%
1Y
80.6%
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 79.58
Logitech International
7D
-8.0%
1Y
11.4%
HUBN
CHF 216.50
Huber+Suhner
7D
-13.2%
1Y
144.4%
Narrative Update • Jun 18

HUBN: Optical Partnerships And Higher Margins Will Drive Strong Share Upside

Analysts have lifted their price target for Huber+Suhner from CHF 189 to CHF 320, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What’s in the News for Huber+Suhner Huber+Suhner is working with Microsoft’s Azure team in Romsey, UK, to develop and manufacture hollow core fiber (HCF) cable and connector solutions that are already deployed in the Azure network, with higher capacity variants under development.
GALD
CHF 185.80
Galderma Group
7D
7.0%
1Y
61.6%
Narrative Update • Jun 17

GALD: Rising Execution Bar And Rich P/E Will Likely Cap Future Share Upside

Analysts have raised the Galderma Group price target by CHF 5 to CHF 125.65, citing updated assumptions on fair value, revenue growth, profit margins and forward P/E that are consistent with a recent series of target increases from major banks. Analyst Commentary Recent Street research on Galderma Group points to a cluster of higher price targets, framed around updated assumptions for earnings quality, revenue mix and P/E levels.