SPSN Stock Analysis: Swiss Prime Site | SW
Real Estate - Diversified | SW, Switzerland | Market Cap: 10.198m CHF | 12M Return: 13.8% | CH0008038389 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.93M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Swiss Prime Site AG (SW: SPSN) is a Swiss real estate company headquartered in Zug, founded in 1999. It operates through three segments: Real Estate, Asset Management, and Corporate & Shared Services, engaging in the purchase, development, sale, and leasing of properties, as well as financing activities. Beyond direct property operations, the company is involved in funds, asset management, and investment advisory services through its subsidiaries. The company is classified within the Real Estate sector as a Real Estate Operating Company, a business model that typically generates revenue through rental income, property sales, and management fees rather than solely from holding assets for capital appreciation. With a large-cap market capitalization of approximately $12.9 billion USD, Swiss Prime Site is among the more significant listed property companies in Switzerland, a market known for its stable tenant demand and conservative lending practices.
- Swiss office vacancy rates rise, pressuring rental income
- SNB rate cuts could reduce financing costs, lift property valuations
- Wincasa and asset management fees grow on platform expansion
| Net Income: 410.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.11 > 1.0 |
| NWC/Revenue: -130.6% < 20% (prev -176.5%; Δ 45.89% < -1%) |
| CFO/TA 0.02 > 3% & CFO 327.0m > Net Income 410.7m |
| Net Debt (6.31b) to EBITDA (505.0m): 12.49 < 3 |
| Current Ratio: 0.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (81.5m) vs 12m ago -1.95% < -2% |
| Gross Margin: 88.03% > 18% (prev 81.43%; Δ 6.60% > 0.5%) |
| Asset Turnover: 3.81% > 50% (prev 4.42%; Δ -0.61% > 0%) |
| Interest Coverage Ratio: 6.65 > 6 (EBIT TTM 499.7m / Interest Expense TTM 75.2m) |
| A: -0.05 (Total Current Assets 67.1m - Total Current Liabilities 782.8m) / Total Assets 14.7b |
| B: 0.41 (Retained Earnings 6.02b / Total Assets 14.7b) |
| C: 0.03 (EBIT TTM 499.7m / Avg Total Assets 14.4b) |
| D: 0.90 (Book Value of Equity 6.99b / Total Liabilities 7.74b) |
| Altman-Z'' = 2.19 = BBB |
| DSRI: 0.94 (Receivables 50.9m/61.3m, Revenue 548.2m/622.3m) |
| GMI: 0.93 (GM 81.43% / 88.03%) |
| AQI: 1.02 (AQ_t 1.00 / AQ_t-1 0.98) |
| SGI: 0.88 (Revenue 548.2m / 622.3m) |
| TATA: 0.01 (NI 410.7m - CFO 327.0m) / TA 14.7b) |
| Beneish M = -3.22 (Cap -4..+1) = AA |
As of September 01, 2026, the stock is trading at CHF 124.90 with a total of 422,399 shares traded. Over the past week, the price has changed by -2.35%, over one month by -5.24%, over three months by -3.18% and over the past year by +13.80%.
Current recommended Stop Loss: 122.50 (which is 1.9% or 1.5 ATR below the current price).
Swiss Prime Site has no consensus analysts rating.
P/E Trailing = 24.9216
P/E Forward = 22.8311
P/S = 18.2198
P/B = 1.4614
P/EG = 6.4477
Revenue TTM = 548.2m CHF
EBIT TTM = 499.7m CHF
EBITDA TTM = 505.0m CHF
Long Term Debt = 4.66b CHF (from longTermDebt, last fiscal year)
Short Term Debt = 782.8m CHF (from shortTermDebt, last quarter)
Debt = 6.32b CHF (from shortLongTermDebtTotal, last quarter) + Leases 242.7m
Net Debt = 6.31b CHF (calculated: Debt 6.32b - CCE 16.2m)
Enterprise Value = 16.5b CHF (10.2b + Debt 6.32b - CCE 16.2m)
Interest Coverage Ratio = 6.65 (Ebit TTM 499.7m / Interest Expense TTM 75.2m)
EV/FCF = 50.49x (Enterprise Value 16.5b / FCF TTM 326.9m)
FCF Yield = 1.98% (FCF TTM 326.9m / Enterprise Value 16.5b)
FCF Margin = 59.63% (FCF TTM 326.9m / Revenue TTM 548.2m)
Net Margin = 74.92% (Net Income TTM 410.7m / Revenue TTM 548.2m)
Gross Margin = 88.03% ((Revenue TTM 548.2m - Cost of Revenue TTM 65.6m) / Revenue TTM)
Gross Margin QoQ = 88.52% (prev 87.55%)
Tobins Q-Ratio = 1.12 (Enterprise Value 16.5b / Total Assets 14.7b)
Interest Expense / Debt = 1.19% (Interest Expense 75.2m / Debt 6.32b)
Taxrate = 22.90% (122.0m / 532.7m)
NOPAT = 385.2m (EBIT 499.7m * (1 - 22.90%))
Current Ratio = 0.09 (Total Current Assets 67.1m / Total Current Liabilities 782.8m)
Debt / Equity = 0.90 (Debt 6.32b / totalStockholderEquity, last quarter 6.99b)
Debt / EBITDA = 12.49 (Net Debt 6.31b / EBITDA 505.0m)
Debt / FCF = 19.29 (Net Debt 6.31b / FCF TTM 326.9m)
Total Stockholder Equity = 6.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.85% (Net Income 410.7m / Total Assets 14.7b)
RoE = 5.96% (Net Income TTM 410.7m / Total Stockholder Equity 6.90b)
RoCE = 4.32% (EBIT 499.7m / Capital Employed (Equity 6.90b + L.T.Debt 4.66b))
RoIC = 2.62% (NOPAT 385.2m / Invested Capital 14.7b)
WACC = 3.71% (E(10.2b)/V(16.5b) * Re(5.45%) + D(6.32b)/V(16.5b) * Rd(1.19%) * (1-Tc(0.23)))
Discount Rate = 5.45% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -24.88 | Cagr: 0.12%
[DCF] Terminal Value 76.64% ; FCFF base≈315.2m ; Y1≈342.2m ; Y5≈423.7m
[DCF] Fair Price = 2.23 (EV 6.49b - Net Debt 6.31b = Equity 178.9m / Shares 80.2m; r=8.35% [WACC [floored]]; 5y FCF grow 9.81% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -90.25 | Revenue CAGR: -8.51% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=3.90 | Chg30d=+0.28% | Revisions=-40% | GrowthEPS=+11.9% | GrowthRev=+13.2%
EPS next Year (2027-12-31): EPS=4.31 | Chg30d=+0.77% | Revisions=+0% | GrowthEPS=+10.6% | GrowthRev=-8.2%
[Analyst] Revisions Ratio: -29% (up=1, down=3)