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 9,763 - -
Change - -7.56% -11.03% -27.47% 4.11% 10.9% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 8,619 8,606 8,581
Change - -9.07% -8.45% -26.78% 7.46% 13.26% -0.16% -0.28%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 41.3x 26.7x 20.5x
PBR 1.24x 1.13x 0.97x 0.7x 0.75x 0.86x 0.85x 0.83x
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 1.48x 1.41x 1.35x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.31x 1.24x 1.18x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 11.4x 8.84x 7.48x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 24.6x 15.7x 12.1x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 29.3x 14.2x 15.9x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 3.42% 7.06% 6.3%
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% 2.43% 2.64% 2.9%
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 2 279.00 263.00 228.60 165.00 168.25 190.95 190.95 190.95
Nbr of stocks (in thousands) 51,771 51,808 51,836 51,872 51,767 51,996 - -
Announcement Date 1/25/22 A 1/24/23 A 1/23/24 A 1/30/25 A 1/30/26 A - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.35x2.76x9.26x3.2% 221B
31.13x7.72x17.13x1.36% 157B
25.68x4.06x14.32x2.26% 124B
61.22x5.01x43.69x0.46% 47B
12.46x1.86x6.38x3.72% 28.25B
20.9x2.67x13.44x1% 23.29B
11.27x1.29x8.33x6.52% 15.24B
18.88x3.58x8.95x3.1% 13.27B
Average 24.99x 3.62x 15.19x 2.7% 79B
Weighted average by Cap. 25.86x 4.36x 14.80x 2.37%

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