Sandoz Group AG

SWX:SDZ Stock Report

Market Cap: CHF 16.3b

Sandoz Group Valuation

Is SDZ 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Discounted Cash Flow
Simply Wall St
CHF 108.36
Fair Value
65.5% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: SDZ (CHF37.33) is trading below our estimate of fair value (CHF108.36)

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

Key Valuation Metric

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

Key metric: As SDZ is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SDZ. This is calculated by dividing SDZ's market cap by their current revenue.
What is SDZ's PS Ratio?
PS Ratio1.8x
SalesUS$10.38b
Market CapUS$18.51b

Price to Sales Ratio vs Peers

How does SDZ's PS Ratio compare to its peers?

The above table shows the PS ratio for SDZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.5x
GALD Galderma Group
5.9x11.6%CHF 22.2b
DESN Dottikon ES Holding
8.1x16.4%CHF 2.8b
NOVN Novartis
4.3x2.2%CHF 194.4b
ROG Roche Holding
3.9x3.9%CHF 247.7b
SDZ Sandoz Group
1.8x5.1%CHF 16.3b

Price-To-Sales vs Peers: SDZ is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (5.5x).

Price to Sales Ratio vs Industry

How does SDZ's PS Ratio compare vs other companies in the European Pharmaceuticals Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
SDZ 1.8xIndustry Avg. 3.6xNo. of Companies32PS0612182430+
26 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SDZ is good value based on its Price-To-Sales Ratio (1.8x) compared to the European Pharmaceuticals industry average (3.6x).

Price to Sales Ratio vs Fair Ratio

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

SDZ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ratio4.7x

Price-To-Sales vs Fair Ratio: SDZ is good value based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (4.7x).

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 SDZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 37.33
CHF 44.63
+19.5%
13.0%CHF 56.44CHF 36.10n/a15
Mar ’26CHF 39.55
CHF 44.31
+12.0%
12.9%CHF 58.04CHF 35.21n/a15
Feb ’26CHF 43.64
CHF 44.46
+1.9%
13.1%CHF 56.93CHF 35.81n/a15
Jan ’26CHF 37.17
CHF 43.51
+17.0%
13.1%CHF 56.38CHF 36.25n/a15
Dec ’25CHF 40.14
CHF 41.78
+4.1%
9.3%CHF 50.26CHF 35.63n/a14
Nov ’25CHF 40.11
CHF 41.32
+3.0%
10.3%CHF 50.78CHF 33.44n/a14
Oct ’25CHF 35.31
CHF 38.78
+9.8%
11.0%CHF 47.91CHF 31.34n/a15
Sep ’25CHF 37.30
CHF 37.61
+0.8%
12.7%CHF 47.96CHF 31.37n/a15
Aug ’25CHF 38.17
CHF 36.59
-4.1%
12.7%CHF 44.91CHF 27.52n/a15
Jul ’25CHF 32.45
CHF 36.51
+12.5%
11.6%CHF 43.62CHF 27.88n/a14
Jun ’25CHF 32.06
CHF 36.37
+13.4%
12.7%CHF 44.13CHF 28.20n/a15
May ’25CHF 31.15
CHF 35.17
+12.9%
14.1%CHF 44.76CHF 26.59n/a15
Apr ’25CHF 27.21
CHF 34.55
+27.0%
15.3%CHF 45.80CHF 26.16n/a14
Mar ’25CHF 27.95
CHF 33.56
+20.1%
14.1%CHF 44.62CHF 26.79CHF 39.5514
Feb ’25CHF 28.61
CHF 33.19
+16.0%
14.0%CHF 44.08CHF 26.46CHF 43.6414
Jan ’25CHF 27.06
CHF 31.33
+15.8%
18.7%CHF 45.98CHF 24.58CHF 37.1712
Dec ’24CHF 25.69
CHF 31.58
+22.9%
18.5%CHF 45.84CHF 25.20CHF 40.1412
Nov ’24CHF 23.99
CHF 35.28
+47.1%
27.7%CHF 59.09CHF 26.23CHF 40.1110
Analyst Price Target
Consensus Narrative from 15 Analysts
CHF 44.63
Fair Value
16.3% undervalued intrinsic discount
15
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/19 18:45
End of Day Share Price 2025/03/19 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Sandoz Group AG is covered by 21 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Emily FieldBarclays
Samuel EnglandBerenberg
Victoria LambertBerenberg