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 8,844 - -
Change - -7.56% -11.03% -27.47% 4.11% 0.46% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 7,677 7,693 7,690
Change - -9.07% -8.45% -26.78% 7.46% 0.88% 0.21% -0.04%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 35x 22.3x 17.3x
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 1.35x 1.28x 1.23x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.17x 1.12x 1.07x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 10.2x 7.86x 6.76x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 22.2x 13.8x 10.9x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 28.9x 10.3x 11x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 3.47% 9.69% 9.08%
Dividend per Share 2 5.5 6 6.5 4.5 4.5 4.598 5.171 5.619
Rate of return 1.97% 2.28% 2.84% 2.73% 2.67% 2.71% 3.04% 3.31%
EPS 2 14.77 15.56 16.75 3.74 0.05 4.85 7.62 9.834
Distribution rate 37.2% 38.6% 38.8% 120% 9,000% 94.8% 67.9% 57.1%
Net sales 1 7,313 7,499 7,888 6,735 6,280 6,559 6,898 7,194
EBITDA 1 1,459 1,565 1,581 720 558 755.1 978.4 1,138
EBIT 1 1,021 1,158 1,191 304 135 345.8 556.8 705.3
Net income 1 765 807 869 193 3 218.9 361.6 458.2
Net Debt 1 -2,556 -2,538 -1,986 -1,374 -1,193 -1,166 -1,150 -1,153
Reference price 2 279.00 263.00 228.60 165.00 168.25 169.95 169.95 169.95
Nbr of stocks (in thousands) 51,771 51,808 51,836 51,872 51,767 51,996 - -
Announcement Date 1/25/22 1/24/23 1/23/24 1/30/25 1/30/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.03x1.83x13.27x1.21% 3.72B
17.72x1.32x9.29x2.31% 3.19B
20.34x - - - 613M
-12.51x0.4x7.6x - 262M
Average 12.64x 1.18x 10.05x 1.76% 1.95B
Weighted average by Cap. 20.40x 1.55x 11.29x 1.72%

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