Company Valuation: The Swatch Group AG

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 10,073 - -
Change - -7.56% -11.03% -27.47% 4.11% 14.43% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 8,894 8,886 8,870
Change - -9.07% -8.45% -26.78% 7.46% 16.87% -0.09% -0.18%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 40.1x 25.6x 19.8x
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 0.4x 0.7x
Capitalization / Revenue 1.94x 1.75x 1.48x 1.26x 1.4x 1.54x 1.46x 1.4x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.36x 1.29x 1.23x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 11.8x 9.03x 7.74x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 25.8x 15.8x 12.5x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 33.4x 11.9x 12.7x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 2.99% 8.39% 7.88%
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% 2.36% 2.66% 2.89%
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 6,561 6,909 7,206
EBITDA 1 1,459 1,565 1,581 720 558 753.9 983.6 1,146
EBIT 1 1,021 1,158 1,191 304 135 344.8 561.7 712.2
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 -1,179 -1,187 -1,203
Reference price 2 279.00 263.00 228.60 165.00 168.25 194.70 194.70 194.70
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.($)
40.14x1.36x11.8x2.36% 12.45B
23.9x2.34x13.6x1.22% 5.49B
21.29x1.6x11.3x1.92% 3.95B
19.64x - - - 592M
54.49x - - 0.32% 495M
-15.1x0.44x8.35x - 317M
Average 24.06x 1.43x 11.26x 1.45% 3.88B
Weighted average by Cap. 32.15x 1.63x 12.11x 1.96%

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

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