Swatch Group Valuation

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

UHRA (€8.2) is trading below our estimate of [[fair value]] (€8.69)

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

Valuation Score

3/6

Valuation Score 3/6

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 UHRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UHRA (€8.2) is trading below our estimate of fair value (€8.69)

Significantly Below Fair Value: UHRA is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for UHRA. This is calculated by dividing UHRA's market cap by their current earnings.
What is UHRA's PE Ratio?
PE Ratio	15.9x
Earnings	CHF 519.00m
Market Cap	CHF 8.23b

UHRA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.9x
Enterprise Value/EBITDA	6.4x
PEG Ratio	1.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for UHRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	37.4x
BOSS Hugo Boss	12.6x	13.1%	€2.7b
ADS adidas	100.5x	38.1%	€38.3b
BIJ Bijou Brigitte modische Accessoires	11.2x	n/a	€269.5m
PUM PUMA	25.4x	18.6%	€6.5b
UHRA Swatch Group	15.9x	13.2%	€8.2b

Price-To-Earnings vs Peers: UHRA is good value based on its Price-To-Earnings Ratio (15.9x) compared to the peer average (37.4x).

Price to Earnings Ratio vs Industry

How does UHRA's PE Ratio compare vs other companies in the European Luxury Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: UHRA is expensive based on its Price-To-Earnings Ratio (15.9x) compared to the European Luxury industry average (14.2x).

Price to Earnings Ratio vs Fair Ratio

What is UHRA'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.

UHRA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.9x
Fair PE Ratio	21.3x

Price-To-Earnings vs Fair Ratio: UHRA is good value based on its Price-To-Earnings Ratio (15.9x) compared to the estimated Fair Price-To-Earnings Ratio (21.3x).

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.