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 8,944 - -
Change - -7.56% -11.03% -27.47% 4.11% 1.6% - -
Enterprise Value (EV) 1 11,619 10,565 9,672 7,081 7,610 7,800 7,787 7,762
Change - -9.07% -8.45% -26.78% 7.46% 2.5% -0.17% -0.31%
P/E 18.9x 16.9x 13.6x 44.1x 3,365x 37.9x 24.5x 18.8x
PBR 1.24x 1.13x 0.97x 0.7x 0.75x 0.78x 0.78x 0.76x
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 1.36x 1.29x 1.23x
EV / Revenue 1.59x 1.41x 1.23x 1.05x 1.21x 1.18x 1.12x 1.07x
EV / EBITDA 7.96x 6.75x 6.12x 9.84x 13.6x 10.3x 8x 6.77x
EV / EBIT 11.4x 9.12x 8.12x 23.3x 56.4x 22.9x 14.2x 11x
EV / FCF 11.6x 31.4x -56.9x -32.8x 136x 26.5x 12.8x 14.4x
FCF Yield 8.63% 3.19% -1.76% -3.05% 0.74% 3.78% 7.8% 6.97%
Dividend per Share 2 5.5 6 6.5 4.5 4.5 4.635 5.134 5.569
Rate of return 1.97% 2.28% 2.84% 2.73% 2.67% 2.65% 2.93% 3.18%
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% 71.9% 59.8%
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 1,581 720 558 757.7 973.9 1,147
EBIT 1 1,021 1,158 1,191 304 135 340.5 547.6 706.7
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 2 279.00 263.00 228.60 165.00 168.25 175.00 175.00 175.00
Nbr of stocks (in thousands) 51,771 51,808 51,836 51,872 51,767 51,996 - -
Announcement Date 25/1/22 24/1/23 23/1/24 30/1/25 30/1/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.85x1.18x10.3x2.65% 10.82B
17.43x2.64x8.85x3.37% 211B
29.16x7.17x15.92x1.46% 148B
23.84x3.79x13.32x2.43% 117B
61.3x4.44x40.64x0.42% 41.43B
11.21x1.65x5.64x4.13% 25.47B
21.57x2.85x14.5x0.97% 23.86B
10x1.16x7.45x7.33% 13.53B
18.04x3.42x8.54x3.24% 12.79B
Average 25.60x 3.15x 13.91x 2.89% 67.15B
Weighted average by Cap. 24.67x 4.02x 13.70x 2.53%

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
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