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 8,668 - -
Change - -7.56% -11.03% -27.47% 4.11% -1.54% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 7,541 7,525 7,507
Change - -9.07% -8.45% -26.78% 7.46% -0.91% -0.21% -0.24%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 37x 23.8x 18.4x
PBR 1.24x 1.13x 0.97x 0.7x 0.75x 0.76x 0.75x 0.74x
PEG - 3.16x 1.78x -0.6x -34.1x 0x 0.4x 0.6x
Capitalization / Revenue 1.94x 1.75x 1.48x 1.26x 1.4x 1.32x 1.25x 1.19x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.15x 1.08x 1.03x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 9.98x 7.73x 6.57x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 22.3x 13.7x 10.7x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 28.3x 10.1x 10.7x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 3.53% 9.9% 9.31%
Dividend per Share 2 5.5 6 6.5 4.5 4.5 4.632 5.143 5.591
Rate of return 1.97% 2.28% 2.84% 2.73% 2.67% 2.73% 3.03% 3.3%
EPS 2 14.77 15.56 16.75 3.74 0.05 4.588 7.131 9.225
Distribution rate 37.2% 38.6% 38.8% 120% 9,000% 101% 72.1% 60.6%
Net sales 1 7,313 7,499 7,888 6,735 6,280 6,577 6,949 7,259
EBITDA 1 1,459 1,565 1,581 720 558 755.5 973.6 1,143
EBIT 1 1,021 1,158 1,191 304 135 338.5 547.3 702.7
Net income 1 765 807 869 193 3 230.4 363.9 463.7
Net Debt 1 -2,556 -2,538 -1,986 -1,374 -1,193 -1,127 -1,143 -1,160
Reference price 2 279.00 263.00 228.60 165.00 168.25 169.65 169.65 169.65
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.($)
17.4x2.64x8.8x3.37% 211B
28.52x7x15.54x1.49% 145B
23.45x3.71x13.04x2.45% 115B
59.3x4.3x39.34x0.43% 40.2B
11.85x1.76x6.09x3.91% 26.85B
20.38x2.68x13.62x1.03% 22.49B
10.14x1.18x7.59x7.23% 13.73B
18.27x3.46x8.63x3.2% 12.99B
Average 23.66x 3.34x 14.08x 2.89% 73.52B
Weighted average by Cap. 23.91x 3.98x 13.41x 2.55%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Swatch Group

Historical PBR trend

Valuation ratios - PBR - Swatch Group

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Swatch Group

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Swatch Group


Year-on-year evolution of the Yield

Valuation ratios - Yield - Swatch Group