Company Valuation: Swatch Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,175 13,103 11,658 8,455 8,803 10,209 - -
Change - -7.56% -11.03% -27.47% 4.11% 15.97% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 8,979 8,976 9,071
Change - -9.07% -8.45% -26.78% 7.46% 17.99% -0.03% 1.06%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 39.3x 26.3x 20.9x
PBR 1.24x 1.13x 0.97x 0.7x 0.75x 0.88x 0.88x 0.86x
PEG - 3.16x 1.78x -0.6x -34.1x 0x 0.5x 0.8x
Capitalization / Revenue 1.94x 1.75x 1.48x 1.26x 1.4x 1.59x 1.51x 1.45x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.39x 1.33x 1.29x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 11.6x 9.32x 8.18x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 24x 16.5x 13.6x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 17x 17.9x 36.5x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 5.87% 5.6% 2.74%
Dividend per Share 2 5.5 6 6.5 4.5 4.5 4.582 5.07 5.516
Rate of return 1.97% 2.28% 2.84% 2.73% 2.67% 2.33% 2.57% 2.8%
EPS 2 14.77 15.56 16.75 3.74 0.05 5.009 7.49 9.423
Distribution rate 37.2% 38.6% 38.8% 120% 9,000% 91.5% 67.7% 58.5%
Net sales 1 7,313 7,499 7,888 6,735 6,280 6,437 6,752 7,052
EBITDA 1 1,459 1,565 1,581 720 558 776.7 962.7 1,109
EBIT 1 1,021 1,158 1,191 304 135 374.6 544.9 669.3
Net income 1 765 807 869 193 3 258.2 369.2 412.9
Net Debt 1 -2,556 -2,538 -1,986 -1,374 -1,193 -1,230 -1,232 -1,137
Reference price 2 279.00 263.00 228.60 165.00 168.25 197.00 197.00 197.00
Nbr of stocks (in thousands) 51,771 51,808 51,836 51,872 51,767 51,996 - -
Announcement Date 25/01/22 24/01/23 23/01/24 30/01/25 30/01/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.84x2.16x15.82x0.96% 3.98B
19.36x1.47x10.42x2.07% 3.61B
20.55x - - - 606M
-11.92x0.39x7.35x - 250M
Average 14.96x 1.34x 11.20x 1.52% 2.11B
Weighted average by Cap. 24.40x 1.79x 13.07x 1.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield