Roche Holding AG

SWX:ROG Stock Report

Market Cap: CHF 203.6b

Roche Holding Valuation

Is ROG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ROG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ROG (CHF253.5) is trading below our estimate of fair value (CHF788.92)

Significantly Below Fair Value: ROG is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ROG?

Key metric: As ROG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ROG. This is calculated by dividing ROG's market cap by their current earnings.
What is ROG's PE Ratio?
PE Ratio19x
EarningsCHF 10.62b
Market CapCHF 203.62b

Price to Earnings Ratio vs Peers

How does ROG's PE Ratio compare to its peers?

The above table shows the PE ratio for ROG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.2x
NOVN Novartis
17.5x7.0%CHF 182.4b
DESN Dottikon ES Holding
39.8xn/aCHF 3.2b
COPN Cosmo Pharmaceuticals
15.5x17.2%CHF 1.0b
MRK Merck
20.1x15.6%US$243.6b
ROG Roche Holding
19x11.1%CHF 203.6b

Price-To-Earnings vs Peers: ROG is good value based on its Price-To-Earnings Ratio (19x) compared to the peer average (23.2x).

Price to Earnings Ratio vs Industry

How does ROG's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ROG 19.0xIndustry Avg. 20.6xNo. of Companies7PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ROG is good value based on its Price-To-Earnings Ratio (19x) compared to the European Pharmaceuticals industry average (20.6x).

Price to Earnings Ratio vs Fair Ratio

What is ROG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ROG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19x
Fair PE Ratio30.7x

Price-To-Earnings vs Fair Ratio: ROG is good value based on its Price-To-Earnings Ratio (19x) compared to the estimated Fair Price-To-Earnings Ratio (30.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ROG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 253.50
CHF 303.88
+19.9%
17.1%CHF 440.00CHF 220.00n/a17
Nov ’25CHF 273.10
CHF 303.76
+11.2%
17.0%CHF 438.00CHF 220.00n/a17
Oct ’25CHF 265.00
CHF 302.00
+14.0%
17.3%CHF 440.00CHF 220.00n/a18
Sep ’25CHF 287.20
CHF 295.63
+2.9%
17.1%CHF 440.00CHF 220.00n/a19
Aug ’25CHF 285.80
CHF 287.74
+0.7%
17.1%CHF 440.00CHF 220.00n/a19
Jul ’25CHF 250.10
CHF 278.58
+11.4%
20.4%CHF 428.00CHF 210.00n/a19
Jun ’25CHF 231.00
CHF 277.53
+20.1%
20.5%CHF 428.00CHF 210.00n/a19
May ’25CHF 220.60
CHF 279.83
+26.9%
20.6%CHF 428.00CHF 210.00n/a18
Apr ’25CHF 229.70
CHF 281.28
+22.5%
19.9%CHF 424.00CHF 210.00n/a18
Mar ’25CHF 233.20
CHF 282.94
+21.3%
19.3%CHF 424.00CHF 210.00n/a18
Feb ’25CHF 233.50
CHF 298.00
+27.6%
19.5%CHF 450.00CHF 225.00n/a18
Jan ’25CHF 244.50
CHF 307.11
+25.6%
19.6%CHF 472.00CHF 225.00n/a19
Dec ’24CHF 239.60
CHF 307.83
+28.5%
18.7%CHF 472.00CHF 225.00n/a18
Nov ’24CHF 237.70
CHF 307.83
+29.5%
18.7%CHF 472.00CHF 225.00CHF 273.1018
Oct ’24CHF 250.45
CHF 313.44
+25.2%
17.2%CHF 478.00CHF 250.00CHF 265.0018
Sep ’24CHF 259.45
CHF 321.12
+23.8%
16.6%CHF 477.27CHF 250.00CHF 287.2019
Aug ’24CHF 270.60
CHF 326.77
+20.8%
16.1%CHF 477.48CHF 250.00CHF 285.8020
Jul ’24CHF 273.50
CHF 328.02
+19.9%
16.0%CHF 456.47CHF 250.00CHF 250.1019
Jun ’24CHF 289.75
CHF 333.63
+15.1%
15.9%CHF 456.47CHF 250.00CHF 231.0021
May ’24CHF 280.35
CHF 335.49
+19.7%
15.3%CHF 450.00CHF 250.00CHF 220.6022
Apr ’24CHF 260.95
CHF 344.08
+31.9%
15.3%CHF 450.00CHF 250.00CHF 229.7023
Mar ’24CHF 271.10
CHF 349.87
+29.1%
13.9%CHF 450.00CHF 250.00CHF 233.2024
Feb ’24CHF 279.40
CHF 354.91
+27.0%
13.3%CHF 465.00CHF 265.00CHF 233.5024
Jan ’24CHF 290.50
CHF 371.08
+27.7%
11.0%CHF 450.00CHF 300.00CHF 244.5024
Dec ’23CHF 310.00
CHF 373.83
+20.6%
10.6%CHF 450.00CHF 300.00CHF 239.6024
Nov ’23CHF 329.50
CHF 375.29
+13.9%
10.5%CHF 450.00CHF 300.00CHF 237.7024

Analyst Forecast: Target price is less than 20% higher than the current share price.

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