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 9,946 - -
Change - -7.56% -11.03% -27.47% 4.11% 12.98% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 8,803 8,789 8,765
Change - -9.07% -8.45% -26.78% 7.46% 15.67% -0.15% -0.28%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 42.2x 27.3x 20.9x
PBR 1.24x 1.13x 0.97x 0.7x 0.75x 0.87x 0.86x 0.85x
PEG - 3.16x 1.78x -0.6x -34.1x 0x 0.5x 0.7x
Capitalization / Revenue 1.94x 1.75x 1.48x 1.26x 1.4x 1.51x 1.43x 1.37x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.34x 1.27x 1.21x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 11.6x 9.02x 7.64x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 25.1x 16.1x 12.4x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 29.9x 14.5x 16.2x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 3.35% 6.91% 6.17%
Dividend per Share 2 5.5 6 6.5 4.5 4.5 4.635 5.048 5.531
Rate of return 1.97% 2.28% 2.84% 2.73% 2.67% 2.38% 2.59% 2.84%
EPS 2 14.77 15.56 16.75 3.74 0.05 4.623 7.143 9.31
Distribution rate 37.2% 38.6% 38.8% 120% 9,000% 100% 70.7% 59.4%
Net sales 1 7,313 7,499 7,888 6,735 6,280 6,587 6,937 7,247
EBITDA 1 1,459 1,565 1,581 720 558 757.6 973.9 1,147
EBIT 1 1,021 1,158 1,191 304 135 350.3 547.6 706.7
Net income 1 765 807 869 193 3 230.9 363.3 471
Net Debt 1 -2,556 -2,538 -1,986 -1,374 -1,193 -1,143 -1,157 -1,181
Reference price 2 279.00 263.00 228.60 165.00 168.25 194.90 194.90 194.90
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.36x2.76x9.27x3.2% 22TCr
30.86x7.65x16.96x1.38% 16TCr
24.59x3.89x13.66x2.35% 12TCr
64.24x4.9x43.14x0.47% 4.57TCr
12.43x1.86x6.36x3.72% 2.82TCr
20.49x2.62x13.18x1.02% 2.28TCr
11.01x1.26x8.16x6.67% 1.49TCr
15.43x2.4x7.19x3.33% 1.29TCr
Average 24.68x 3.42x 14.74x 2.77% 8TCr
Weighted average by Cap. 25.66x 4.27x 14.49x 2.41%

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