Financials Swatch Group Börse Stuttgart

Equities

UHRN

CH0012255144

Apparel & Accessories

Delayed Börse Stuttgart 14:43:21 28/06/2019 BST 5-day change 1st Jan Change
47.16 EUR -1.30% Intraday chart for Swatch Group +0.64% -5.96%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,755 12,291 14,175 13,103 11,658 9,764 - -
Enterprise Value (EV) 1 11,407 10,594 11,619 11,309 9,672 7,429 7,236 7,101
P/E ratio 19.1 x -244 x 18.9 x 16.9 x 13.6 x 11.5 x 10.3 x 9.54 x
Yield 2.96% 1.45% 1.97% 2.28% 2.84% 3.58% 4.03% 4.37%
Capitalization / Revenue 1.55 x 2.2 x 1.94 x 1.75 x 1.48 x 1.23 x 1.18 x 1.13 x
EV / Revenue 1.38 x 1.89 x 1.59 x 1.51 x 1.23 x 0.94 x 0.87 x 0.82 x
EV / EBITDA 7.59 x 20.6 x 7.96 x 7.23 x 6.12 x 4.77 x 4.28 x 4.04 x
EV / FCF 14.7 x 18.6 x 11.6 x 33.6 x -56.9 x 9.02 x 11.4 x 10.8 x
FCF Yield 6.82% 5.38% 8.63% 2.98% -1.76% 11.1% 8.74% 9.25%
Price to Book 1.21 x 1.14 x 1.24 x 1.13 x 0.97 x 0.77 x 0.74 x 0.72 x
Nbr of stocks (in thousands) 48,367 51,619 51,771 51,808 51,836 51,872 - -
Reference price 2 270.0 241.5 279.0 263.0 228.6 190.2 190.2 190.2
Announcement Date 30/01/20 28/01/21 25/01/22 24/01/23 23/01/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,243 5,595 7,313 7,499 7,888 7,911 8,293 8,613
EBITDA 1 1,503 515 1,459 1,565 1,581 1,557 1,689 1,760
EBIT 1 1,023 52 1,021 1,158 1,191 1,160 1,274 1,344
Operating Margin 12.41% 0.93% 13.96% 15.44% 15.1% 14.66% 15.37% 15.61%
Earnings before Tax (EBT) 1 1,004 36 1,011 1,096 1,152 1,172 1,283 1,351
Net income 1 730 -51 765 807 869 823.7 902.4 950.2
Net margin 8.86% -0.91% 10.46% 10.76% 11.02% 10.41% 10.88% 11.03%
EPS 2 14.17 -0.9900 14.77 15.56 16.75 16.53 18.46 19.94
Free Cash Flow 1 778 570 1,003 337 -170 824 632.3 657
FCF margin 9.44% 10.19% 13.72% 4.49% -2.16% 10.42% 7.62% 7.63%
FCF Conversion (EBITDA) 51.76% 110.68% 68.75% 21.53% - 52.92% 37.43% 37.34%
FCF Conversion (Net income) 106.58% - 131.11% 41.76% - 100.03% 70.07% 69.15%
Dividend per Share 2 8.000 3.500 5.500 6.000 6.500 6.815 7.667 8.315
Announcement Date 30/01/20 28/01/21 25/01/22 24/01/23 23/01/24 - - -
1CHF in Million2CHF
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 4,170 2,197 3,398 3,392 3,921 3,612 3,887 4,019 3,869 3,816 4,063
EBITDA 716 -86 601 623 858 709 - 878 703 - -
EBIT 1 476 -321 379 402 619 503 655 686 505 505 592.3
Operating Margin 11.41% -14.61% 11.15% 11.85% 15.79% 13.93% 16.85% 17.07% 13.05% 13.23% 14.58%
Earnings before Tax (EBT) 464 -344 380 402 609 443 - - 500 - -
Net income 315 -303 252 267 498 311 - 486 383 - -
Net margin 7.55% -13.79% 7.42% 7.87% 12.7% 8.61% - 12.09% 9.9% - -
EPS 6.360 - 4.880 5.150 9.620 - 9.560 - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 30/01/20 14/07/20 28/01/21 12/07/21 25/01/22 14/07/22 24/01/23 13/07/23 23/01/24 - -
1CHF in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,348 1,697 2,556 1,794 1,986 2,335 2,528 2,663
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 778 570 1,003 337 -170 824 632 657
ROE (net income / shareholders' equity) 6.6% -0.46% 6.82% 6.86% 7.19% 6.23% 6.61% 6.18%
ROA (Net income/ Total Assets) 5.34% -0.38% 5.76% 5.85% 6.18% 4.49% 4.62% 3.79%
Assets 1 13,677 13,295 13,287 13,785 14,061 18,344 19,532 25,100
Book Value Per Share 2 223.0 212.0 224.0 233.0 236.0 246.0 256.0 263.0
Cash Flow per Share 2 23.80 15.80 25.10 14.00 11.90 24.10 25.40 27.00
Capex 1 446 249 295 387 785 530 499 468
Capex / Sales 5.41% 4.45% 4.03% 5.16% 9.95% 6.7% 6.01% 5.44%
Announcement Date 30/01/20 28/01/21 25/01/22 24/01/23 23/01/24 - - -
1CHF in Million2CHF
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
20
Last Close Price
190.2 CHF
Average target price
228.6 CHF
Spread / Average Target
+20.16%
Consensus
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