Upcoming Dividend • May 08
Upcoming dividend of CHF4.50 per share Eligible shareholders must have bought the stock before 15 May 2026. Payment date: 19 May 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (2.2%). Duyuru • Apr 09
The Swatch Group AG, Annual General Meeting, May 12, 2026 The Swatch Group AG, Annual General Meeting, May 12, 2026, at 10:00 W. Europe Standard Time. Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: CHF0.058 (vs CHF3.73 in FY 2024) Full year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 01
Full year 2025 earnings released: EPS: CHF0.058 (vs CHF3.73 in FY 2024) Full year 2025 results: EPS: CHF0.058 (down from CHF3.73 in FY 2024). Revenue: CHF6.28b (down 6.8% from FY 2024). Net income: CHF3.00m (down 98% from FY 2024). Profit margin: 0% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Declared Dividend • Feb 01
Dividend of CHF4.50 announced Dividend of CHF4.50 is the same as last year. Ex-date: 15th May 2026 Payment date: 19th May 2026 Dividend yield will be 2.5%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 77x earnings) nor is it covered by cash flows (402% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 8,551% to bring the payout ratio under control. EPS is expected to grow by 326% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Duyuru • Jan 31
The Swatch Group AG announces Annual dividend, payable on May 19, 2026 The Swatch Group AG announced Annual dividend of CHF 4.5000 per share payable on May 19, 2026, ex-date on May 15, 2026 and record date on May 18, 2026. Buy Or Sell Opportunity • Jul 30
Now 20% undervalued Over the last 90 days, the stock has risen 4.5% to CHF147. The fair value is estimated to be CHF185, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Reported Earnings • Jul 19
First half 2025 earnings released First half 2025 results: Revenue: CHF3.06b (down 11% from 1H 2024). Net income: CHF3.00m (down 98% from 1H 2024). Profit margin: 0.1% (down from 3.9% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Luxury industry in Europe. Upcoming Dividend • May 16
Upcoming dividend of CHF4.50 per share Eligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.9%). Duyuru • Apr 16
The Swatch Group AG, Annual General Meeting, May 21, 2025 The Swatch Group AG, Annual General Meeting, May 21, 2025, at 10:00 W. Europe Standard Time. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CHF131, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Luxury industry in Europe. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF136 per share. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: CHF3.73 (vs CHF16.76 in FY 2023) Full year 2024 results: EPS: CHF3.73 (down from CHF16.76 in FY 2023). Revenue: CHF6.74b (down 15% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.9% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 03
Dividend reduced to CHF4.50 Dividend of CHF4.50 is 31% lower than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 115% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Jan 31
Full year 2024 earnings released Full year 2024 results: Revenue: CHF7.00b (down 11% from FY 2023). Net income: CHF193.0m (down 78% from FY 2023). Profit margin: 2.8% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Buy Or Sell Opportunity • Nov 08
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to CHF163. The fair value is estimated to be CHF213, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Buy Or Sell Opportunity • Oct 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to CHF170. The fair value is estimated to be CHF213, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CHF180, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Luxury industry in Europe. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF213 per share. Reported Earnings • Jul 17
First half 2024 earnings released First half 2024 results: Revenue: CHF3.45b (down 14% from 1H 2023). Net income: CHF136.0m (down 72% from 1H 2023). Profit margin: 3.9% (down from 12% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe. New Risk • Jul 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.1% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.1% net profit margin). Upcoming Dividend • May 06
Upcoming dividend of CHF6.50 per share Eligible shareholders must have bought the stock before 13 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.6%). Buy Or Sell Opportunity • Apr 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to CHF208. The fair value is estimated to be CHF266, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Declared Dividend • Jan 25
Dividend of CHF6.50 announced Shareholders will receive a dividend of CHF6.50. Ex-date: 13th May 2024 Payment date: 15th May 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jan 24
The Swatch Group AG to Report First Half, 2024 Results on Jul 31, 2024 The Swatch Group AG announced that they will report first half, 2024 results on Jul 31, 2024 Reported Earnings • Jan 24
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: CHF2.00b (up 3.0% from 3Q 2022). Net income: CHF191.5m (down 23% from 3Q 2022). Profit margin: 9.6% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 4 years, compared to a 3.7% growth forecast for the Luxury industry in the United Kingdom. Duyuru • Jan 23
The Swatch Group AG to Report Fiscal Year 2023 Results on Mar 21, 2024 The Swatch Group AG announced that they will report fiscal year 2023 results on Mar 21, 2024 Duyuru • Oct 24
The Swatch Group AG, Annual General Meeting, May 08, 2024 The Swatch Group AG, Annual General Meeting, May 08, 2024. Reported Earnings • Jul 14
First half 2023 earnings released First half 2023 results: Revenue: CHF4.02b (up 11% from 1H 2022). Net income: CHF486.0m (up 56% from 1H 2022). Profit margin: 12% (up from 8.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Luxury industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be CHF330, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Buying Opportunity • May 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be CHF363, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • May 05
Upcoming dividend of CHF6.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 12 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 39% and the cash payout ratio is 84%. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.2%). Buying Opportunity • Apr 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be CHF365, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Reported Earnings • Mar 20
Full year 2022 earnings released: EPS: CHF15.57 (vs CHF14.78 in FY 2021) Full year 2022 results: EPS: CHF15.57 (up from CHF14.78 in FY 2021). Revenue: CHF7.50b (up 2.5% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 25
Full year 2022 earnings released: EPS: CHF3.11 (vs CHF14.78 in FY 2021) Full year 2022 results: EPS: CHF3.11. Revenue: CHF7.74b (up 5.9% from FY 2021). Net income: CHF807.0m (up 5.5% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Luxury industry in the United Kingdom. Buying Opportunity • Jan 14
Now 20% undervalued Over the last 90 days, the stock is up 31%. The fair value is estimated to be CHF371, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 9.7% per annum over the same time period. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Chairman of Tissot Board & Member of Executive Group Management Board Francois Thiebaud was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CHF283, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Buying Opportunity • Sep 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be CHF284, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Buying Opportunity • Sep 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be CHF290, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Reported Earnings • Jul 15
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down CHF267.0m from profit in 1H 2021). Profit margin: (down from 7.9% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 5.3%, compared to a 10% growth forecast for the industry in the United Kingdom. Buying Opportunity • Jul 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.5%. The fair value is estimated to be CHF291, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period. Buying Opportunity • Jun 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.8%. The fair value is estimated to be CHF301, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings is also forecast to grow by 8.3% per annum over the same time period. Upcoming Dividend • May 20
Upcoming dividend of CHF5.50 per share Eligible shareholders must have bought the stock before 27 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (4.9%). Higher than average of industry peers (1.7%). Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CHF297, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings is also forecast to grow by 8.4% per annum over the same time period. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Chairman of Tissot Board & Member of Executive Group Management Board Francois Thiebaud was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be CHF294, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% per annum over the last 3 years. The company has become profitable over the last year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CHF240, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Luxury industry in Europe. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF298 per share. Reported Earnings • Jan 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CHF2.96 (up from CHF0.99 loss in FY 2020). Revenue: CHF7.59b (up 36% from FY 2020). Net income: CHF765.0m (up CHF816.0m from FY 2020). Profit margin: 10% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.1%, compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorated over the past week After last week's 34% share price decline to CHF305, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 27x in the Luxury industry in Europe. Total loss to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF480 per share. Reported Earnings • Jul 16
First half 2021 earnings released: EPS CHF5.15 (vs CHF5.87 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CHF3.39b (up 54% from 1H 2020). Net income: CHF267.0m (up CHF570.0m from 1H 2020). Profit margin: 7.9% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 07
Upcoming dividend of CHF3.50 per share Eligible shareholders must have bought the stock before 14 May 2021. Payment date: 18 May 2021. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (1.0%). Reported Earnings • Mar 20
Full year 2020 earnings released: CHF0.99 loss per share (vs CHF14.18 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CHF5.60b (down 32% from FY 2019). Net loss: CHF51.0m (down 107% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 01
New 90-day high: CHF278 The company is up 22% from its price of CHF228 on 01 December 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF227 per share. Reported Earnings • Jan 30
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CHF5.72b (down 31% from FY 2019). Net loss: CHF51.0m (down 107% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 25%, compared to a 15% growth forecast for the Luxury industry in the United Kingdom. Is New 90 Day High Low • Dec 08
New 90-day high: CHF275 The company is up 35% from its price of CHF204 on 09 September 2020. The British market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF335 per share.