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

Swiss (SMI) Market Analysis & Valuation

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies204
  • 7D-0.01%
  • 3M7.8%
  • 1Y15.6%
  • YTD6.1%

The market has been flat in the last week, however the Communication Services sector is down 4.0%. As for the longer term, the market has risen 16% in the past 12 months. 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
Thu, 02 Jul 2026CHF 2.1tCHF 781.2bCHF 105.1b20.3x19.9x2.7x
Sat, 30 May 2026CHF 2.0tCHF 771.4bCHF 103.5b20.8x19.6x2.6x
Mon, 27 Apr 2026CHF 2.0tCHF 780.0bCHF 109.9b20.2x18x2.5x
Wed, 25 Mar 2026CHF 1.9tCHF 780.7bCHF 109.6b20.1x17.1x2.4x
Fri, 20 Feb 2026CHF 2.1tCHF 790.8bCHF 117.8b20.5x17.4x2.6x
Sun, 18 Jan 2026CHF 2.0tCHF 800.2bCHF 115.2b20.7x17.6x2.5x
Tue, 16 Dec 2025CHF 2.1tCHF 798.6bCHF 114.4b20.2x18x2.6x
Thu, 13 Nov 2025CHF 1.9tCHF 800.8bCHF 114.0b19.3x16.9x2.4x
Sat, 11 Oct 2025CHF 1.9tCHF 775.5bCHF 90.5b19.5x20.9x2.4x
Mon, 08 Sep 2025CHF 1.9tCHF 774.7bCHF 90.1b19.5x20.8x2.4x
Wed, 06 Aug 2025CHF 1.8tCHF 775.2bCHF 89.9b20.6x20.3x2.4x
Fri, 04 Jul 2025CHF 1.8tCHF 784.5bCHF 106.7b20.2x16.9x2.3x
Sun, 01 Jun 2025CHF 1.8tCHF 785.7bCHF 106.4b20.1x17.2x2.3x
Tue, 29 Apr 2025CHF 1.8tCHF 834.8bCHF 157.0b19.1x11.3x2.1x
Thu, 27 Mar 2025CHF 1.9tCHF 850.5bCHF 159.0b20.1x11.9x2.2x
Sat, 22 Feb 2025CHF 1.9tCHF 819.9bCHF 116.5b21.1x16.5x2.3x
Mon, 20 Jan 2025CHF 1.8tCHF 819.7bCHF 118.0b21.1x15.2x2.2x
Wed, 18 Dec 2024CHF 1.8tCHF 813.3bCHF 117.3b20.7x14.9x2.2x
Fri, 15 Nov 2024CHF 1.8tCHF 817.2bCHF 117.8b19.7x14.9x2.1x
Sun, 13 Oct 2024CHF 1.8tCHF 803.6bCHF 114.1b21.5x16x2.3x
Tue, 10 Sep 2024CHF 1.8tCHF 801.7bCHF 113.7b21.4x15.8x2.2x
Thu, 08 Aug 2024CHF 1.8tCHF 799.6bCHF 136.0b21.4x13.1x2.2x
Sat, 06 Jul 2024CHF 1.8tCHF 801.2bCHF 125.6b21.4x14.4x2.3x
Mon, 03 Jun 2024CHF 1.8tCHF 803.7bCHF 126.0b22x14.3x2.2x
Wed, 01 May 2024CHF 1.7tCHF 802.0bCHF 125.9b21.3x13.6x2.1x
Fri, 29 Mar 2024CHF 1.8tCHF 766.6bCHF 98.0b21.9x18.2x2.3x
Sun, 25 Feb 2024CHF 1.7tCHF 779.6bCHF 110.8b20.1x15.7x2.2x
Tue, 23 Jan 2024CHF 1.7tCHF 766.7bCHF 110.5b17.9x15.3x2.2x
Thu, 21 Dec 2023CHF 1.7tCHF 764.9bCHF 110.1b18.6x15.3x2.2x
Sat, 18 Nov 2023CHF 1.6tCHF 772.9bCHF 111.6b17.9x14.6x2.1x
Mon, 16 Oct 2023CHF 1.6tCHF 761.3bCHF 100.3b18.1x16.3x2.1x
Wed, 13 Sep 2023CHF 1.7tCHF 750.1bCHF 99.2b18.6x16.7x2.2x
Fri, 11 Aug 2023CHF 1.7tCHF 742.7bCHF 75.1b18.5x22.4x2.3x
Sun, 09 Jul 2023CHF 1.7tCHF 755.7bCHF 76.7b18.9x21.8x2.2x
Price to Earnings Ratio

21.8x


Total Market Cap: CHF 1.7tTotal Earnings: CHF 76.7bTotal Revenue: CHF 755.7bTotal 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 19.9x 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 Market-0.011%
Financials1.17%
Industrials0.41%
Healthcare0.12%
Consumer Staples-0.34%
Real Estate-0.87%
Materials-0.97%
Consumer Discretionary-1.50%
Utilities-1.97%
Tech-2.61%
Telecom-4.00%
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 15.6% 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 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 7.2% 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
LONN Lonza GroupCHF 562.606.5%
+CHF 2.4b		0.7%PE43.2xHealthcare
ZURN Zurich Insurance GroupCHF 600.002.5%
+CHF 2.2b		10.3%PE16.3xFinancials
VACN VAT GroupCHF 708.806.5%
+CHF 1.3b		110.1%PE99.1xIndustrials
NOVN NovartisCHF 125.000.5%
+CHF 1.2b		27.0%PE20.9xHealthcare
KNIN Kuehne + Nagel InternationalCHF 200.305.2%
+CHF 1.2b		14.7%PE28.5xIndustrials
See more

Market Insights

Header cover image
Yield measures a moment. A decade of raising it measures the business: durable earnings, a clean balance sheet, and management disciplined enough to keep it.
Continue reading
Watt's left in the overcrowded power trade?

Latest News

ROP
CHF 328.80
Roche Holding
7D
-1.0%
1Y
26.4%
NOVN
CHF 125.00
Novartis
7D
0.5%
1Y
27.0%
GALD
CHF 178.85
Galderma Group
7D
-2.6%
1Y
52.0%
LOGN
CHF 76.88
Logitech International
7D
-8.4%
1Y
4.5%
PGHN
CHF 677.40
Partners Group Holding
7D
4.4%
1Y
-34.5%
ZURN
CHF 600.00
Zurich Insurance Group
7D
2.5%
1Y
10.3%
New Narrative • Jun 30

Middle Market Expansion And Construction Exposure Will Strain Future Profitability

Catalysts About Zurich Insurance Group Zurich Insurance Group is a global insurer offering property and casualty, life protection and related services across commercial, retail and Farmers-branded insurance businesses. What are the underlying business or industry changes driving this perspective?
KNIN
CHF 200.30
Kuehne + Nagel International
7D
5.2%
1Y
14.7%
Narrative Update • Jun 29

KNIN: Elevated Multiple Will Face Pressure From Tempered Street Ratings

The analyst price target for Kuehne + Nagel International has been raised from CHF 135.29 to CHF 154.00, reflecting updated assumptions around revenue growth, profitability and future P/E multiples that are consistent with a series of recent target increases from major banks' research teams. Analyst Commentary Recent Street research around Kuehne + Nagel International points to a more cautious tone, even as headline price targets move higher.
AMRZ
CHF 42.72
Amrize
7D
-4.1%
1Y
9.1%
SCMN
CHF 608.50
Swisscom
7D
-4.8%
1Y
8.4%
Narrative Update • Jun 26

SCMN: Italian And Swiss Market Pressures Will Constrain Upside Potential

Analysts have trimmed their Swisscom price expectations to CHF 600, with mixed views on Swiss and Italian market challenges reflected in a lower Street target alongside a higher internal fair value estimate of CHF 562.82. Analyst Commentary Recent commentary on Swisscom shows a clear split, with some bearish analysts arguing that current pricing already reflects the company’s execution and market position, while others still see room for the valuation to support a higher fair value.
HOLN
CHF 72.76
Holcim
7D
-2.5%
1Y
22.2%
LONN
CHF 562.60
Lonza Group
7D
6.5%
1Y
0.7%
CFR
CHF 182.70
Compagnie Financière Richemont
7D
-1.5%
1Y
20.6%
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...
VACN
CHF 708.80
VAT Group
7D
6.5%
1Y
110.1%
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.
ALC
CHF 53.78
Alcon
7D
-2.9%
1Y
-24.1%
Narrative Update • Jun 19

ALC: Cataract Platform Expansion And Share Buybacks Will Drive Future Upside

Analysts have trimmed their price target on Alcon, with updated fair value estimates moving from around CHF 79.02 to CHF 76.62 as they adjust assumptions for the discount rate, revenue growth, profit margin and future P/E. What’s in the News for Alcon Alcon launched the UNITY CS cataract surgical system in Canada, described as the company’s next generation standalone cataract platform, with a showcase planned at the Canadian Ophthalmological Society Annual Meeting and Exhibition in June 2026, according to Alcon.
BAER
CHF 69.84
Julius Bär Gruppe
7D
6.6%
1Y
29.1%
Narrative Update • Jun 18

BAER: Fairly Valued Shares Will Depend On Flow Recovery And Profit Execution

Analysts have nudged the fair value estimate for Julius Bär Gruppe slightly lower to CHF 69.35 from CHF 69.41, while recent Street research price targets ranging from CHF 59 to CHF 78 reflect differing views on how quickly flows and profitability might improve. Analyst Commentary Recent Street research on Julius Bär Gruppe highlights a mix of optimism and caution, with price targets spanning CHF 59 to CHF 78 and a range of ratings from Underweight to Buy.
SREN
CHF 129.25
Swiss Re
7D
2.1%
1Y
-4.4%
Narrative Update • Jun 16

SREN: Fairly Valued Shares Will Face Softer Cycle And Catastrophe Risk

The analyst price target for Swiss Re has been trimmed slightly, with the updated fair value moving from CHF 128.79 to CHF 127.83 as analysts factor in revised assumptions for revenue growth, profit margins, and future P/E multiples following a series of recent target cuts and a downgrade on the stock. Analyst Commentary on Swiss Re Recent research on Swiss Re reflects a mix of cautious and more constructive views, with several firms trimming price targets and at least one high profile downgrade.