Sandoz Group AG

SWX:SDZ Stock Report

Market Cap: CHF 21.6b

Sandoz Group Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 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 101.07
Fair Value
50.4% undervalued intrinsic discount
14
Number of Analysts

Below Fair Value: SDZ (CHF50.16) is trading below our estimate of fair value (CHF101.07)

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 profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SDZ. This is calculated by dividing SDZ's market cap by their current earnings.
What is SDZ's PE Ratio?
PE Ratio118.9x
EarningsUS$227.00m
Market CapUS$27.00b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SDZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average47.1x
GALD Galderma Group
109.6x32.03%CHF 33.1b
DESN Dottikon ES Holding
37.3xn/aCHF 3.9b
NOVN Novartis
17.9x8.01%CHF 195.8b
ROG Roche Holding
23.5x13.38%CHF 223.6b
SDZ Sandoz Group
118.9x27.94%CHF 21.6b

Price-To-Earnings vs Peers: SDZ is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the peer average (47.1x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SDZ 118.9xIndustry Avg. 21.2xNo. of Companies10PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SDZ is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the European Pharmaceuticals industry average (21.1x).

Price to Earnings Ratio vs Fair Ratio

What is SDZ'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.

SDZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio118.9x
Fair PE Ratio38.7x

Price-To-Earnings vs Fair Ratio: SDZ is expensive based on its Price-To-Earnings Ratio (118.9x) compared to the estimated Fair Price-To-Earnings Ratio (38.7x).

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 50.16
CHF 49.38
-1.56%
12.39%CHF 60.36CHF 38.01n/a14
Aug ’26CHF 46.73
CHF 45.87
-1.85%
14.36%CHF 61.27CHF 36.14n/a14
Jul ’26CHF 42.94
CHF 43.12
+0.41%
13.07%CHF 53.90CHF 34.03n/a15
Jun ’26CHF 41.73
CHF 44.58
+6.82%
13.55%CHF 56.59CHF 34.89n/a15
May ’26CHF 35.78
CHF 43.57
+21.78%
13.67%CHF 55.72CHF 34.24n/a15
Apr ’26CHF 36.41
CHF 45.17
+24.07%
11.91%CHF 56.71CHF 38.11n/a15
Mar ’26CHF 39.55
CHF 44.33
+12.08%
12.87%CHF 58.04CHF 35.21n/a15
Feb ’26CHF 43.64
CHF 44.47
+1.90%
13.15%CHF 56.93CHF 35.81n/a15
Jan ’26CHF 37.17
CHF 43.82
+17.90%
12.43%CHF 56.38CHF 36.25n/a15
Dec ’25CHF 40.14
CHF 41.78
+4.09%
9.32%CHF 50.26CHF 35.63n/a14
Nov ’25CHF 40.11
CHF 41.32
+3.01%
10.30%CHF 50.78CHF 33.44n/a14
Oct ’25CHF 35.31
CHF 38.78
+9.84%
11.01%CHF 47.91CHF 31.34n/a15
Sep ’25CHF 37.30
CHF 37.61
+0.82%
12.73%CHF 47.96CHF 31.37n/a15
Aug ’25CHF 38.17
CHF 36.59
-4.14%
12.75%CHF 44.91CHF 27.52CHF 46.7315
Jul ’25CHF 32.45
CHF 36.51
+12.52%
11.63%CHF 43.62CHF 27.88CHF 42.9414
Jun ’25CHF 32.06
CHF 36.37
+13.43%
12.68%CHF 44.13CHF 28.20CHF 41.7315
May ’25CHF 31.15
CHF 35.17
+12.90%
14.05%CHF 44.76CHF 26.59CHF 35.7815
Apr ’25CHF 27.21
CHF 34.55
+26.97%
15.32%CHF 45.80CHF 26.16CHF 36.4114
Mar ’25CHF 27.95
CHF 33.56
+20.08%
14.14%CHF 44.62CHF 26.79CHF 39.5514
Feb ’25CHF 28.61
CHF 33.19
+16.02%
14.05%CHF 44.08CHF 26.46CHF 43.6414
Jan ’25CHF 27.06
CHF 31.33
+15.78%
18.71%CHF 45.98CHF 24.58CHF 37.1712
Dec ’24CHF 25.69
CHF 31.58
+22.91%
18.45%CHF 45.84CHF 25.20CHF 40.1412
Nov ’24CHF 23.99
CHF 35.28
+47.05%
27.73%CHF 59.09CHF 26.23CHF 40.1110
AnalystConsensusTarget
Consensus Narrative from 14 Analysts
CHF 49.38
Fair Value
1.6% overvalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/08/31 16:17
End of Day Share Price 2025/08/29 00:00
Earnings2025/06/30
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 26 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sidhartha ModiBarclays
Emily FieldBarclays
Victoria LambertBerenberg