(UHR) The Swatch - SW
Sector: Consumer Cyclical | Industry: Luxury Goods | Exchange: SW (Switzerland) | Market Cap: 10.924m CHF | Total Return: 59.3% in 12m
Avg Turnover: 19.5M
Qual. Beats: 0
Rev. Trend: -97.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader, Confidence, Tailwind
The Swatch Group AG is a vertically integrated Swiss manufacturer specializing in finished watches, jewelry, and precision electronic components. The company operates across two primary segments: Watches & Jewelry, which manages a portfolio of 16 brands ranging from luxury marques like Breguet and Omega to mass-market labels like Swatch, and Electronic Systems, which focuses on microelectronics and sports timing technology.
The business model relies on high levels of industrial autonomy, as the group produces nearly all components required for its movements and finished products internally. This vertical integration is a defensive hallmark of the Swiss watch industry, allowing the firm to supply essential parts to third-party manufacturers while maintaining quality control over its own luxury prestige brands. The company maintains a global footprint with significant exposure to the Greater China and Asian markets, which are primary drivers of demand for high-end horology.
Investors can further examine the companys valuation metrics and historical performance on ValueRay. The groups diverse operations also extend into logistics, specialized retail, and research and development to support its technical manufacturing base.
- Chinese consumer demand slowdown impacts high-end luxury watch segment revenue
- Swiss Franc appreciation creates significant headwind for export-led operating margins
- Vertical integration of movement manufacturing maintains competitive advantage over independent brands
- Entry-level MoonSwatch and Scuba Fifty Fathoms drive high-volume retail growth
| Net Income: 3.00m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 2.28 > 1.0 |
| NWC/Revenue: 137.2% < 20% (prev 133.4%; Δ 3.77% < -1%) |
| CFO/TA 0.04 > 3% & CFO 507.0m > Net Income 3.00m |
| Net Debt (-62.0m) to EBITDA (585.0m): -0.11 < 3 |
| Current Ratio: 9.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (51.9m) vs 12m ago -12.69% < -2% |
| Gross Margin: 82.20% > 18% (prev 83.19%; Δ -0.99% > 0.5%) |
| Asset Turnover: 45.89% > 50% (prev 48.13%; Δ -2.24% > 0%) |
| Interest Coverage Ratio: 40.50 > 6 (EBIT TTM 162.0m / Interest Expense TTM 4.00m) |
| A: 0.64 (Total Current Assets 9.60b - Total Current Liabilities 983.0m) / Total Assets 13.4b |
| B: 1.12 (Retained Earnings 15.0b / Total Assets 13.4b) |
| C: 0.01 (EBIT TTM 162.0m / Avg Total Assets 13.7b) |
| D: 6.71 (Book Value of Equity 11.6b / Total Liabilities 1.72b) |
| Altman-Z'' = 15.02 = AAA |
| DSRI: 0.92 (Receivables 594.0m/692.0m, Revenue 6.28b/6.74b) |
| GMI: 1.01 (GM 83.19% / 82.20%) |
| AQI: 0.84 (AQ_t 0.05 / AQ_t-1 0.06) |
| SGI: 0.93 (Revenue 6.28b / 6.74b) |
| TATA: -0.04 (NI 3.00m - CFO 507.0m) / TA 13.4b) |
| Beneish M = -3.23 (Cap -4..+1) = AA |
As of June 20, 2026, the stock is trading at CHF 210.70 with a total of 199,308 shares traded.
Over the past week, the price has changed by +4.55%,
over one month by +4.61%,
over three months by +29.36% and
over the past year by +59.32%.
The Swatch has no consensus analysts rating.
P/E Trailing = 5252.5005
P/E Forward = 40.6504
P/S = 1.7395
P/B = 0.9458
P/EG = 0.1356
Revenue TTM = 6.28b CHF
EBIT TTM = 162.0m CHF
EBITDA TTM = 585.0m CHF
Long Term Debt = 2.00m CHF (from longTermDebt, last quarter)
Short Term Debt = 36.0m CHF (from shortTermDebt, last quarter)
Debt = 38.0m CHF (from shortLongTermDebtTotal, last quarter)
Net Debt = -62.0m CHF (calculated: Debt 38.0m - CCE 100.0m)
Enterprise Value = 10.9b CHF (10.9b + Debt 38.0m - CCE 100.0m)
Interest Coverage Ratio = 40.50 (Ebit TTM 162.0m / Interest Expense TTM 4.00m)
EV/FCF = 110.8x (Enterprise Value 10.9b / FCF TTM 98.0m)
FCF Yield = 0.90% (FCF TTM 98.0m / Enterprise Value 10.9b)
FCF Margin = 1.56% (FCF TTM 98.0m / Revenue TTM 6.28b)
Net Margin = 0.05% (Net Income TTM 3.00m / Revenue TTM 6.28b)
Gross Margin = 82.20% ((Revenue TTM 6.28b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 81.00% (prev 83.46%)
Tobins Q-Ratio = 0.81 (Enterprise Value 10.9b / Total Assets 13.4b)
Interest Expense / Debt = 10.53% (Interest Expense 4.00m / Debt 38.0m)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 121.5m (EBIT 162.0m * (1 - 25.00%))
Current Ratio = 9.76 (Total Current Assets 9.60b / Total Current Liabilities 983.0m)
Debt / Equity = 0.00 (Debt 38.0m / totalStockholderEquity, last quarter 11.6b)
Debt / EBITDA = -0.11 (Net Debt -62.0m / EBITDA 585.0m)
Debt / FCF = -0.63 (Net Debt -62.0m / FCF TTM 98.0m)
Total Stockholder Equity = 11.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.02% (Net Income 3.00m / Total Assets 13.4b)
RoE = 0.03% (Net Income TTM 3.00m / Total Stockholder Equity 11.8b)
RoCE = 1.37% (EBIT 162.0m / Capital Employed (Equity 11.8b + L.T.Debt 2.00m))
RoIC = 0.99% (NOPAT 121.5m / Invested Capital 12.3b)
WACC = 7.90% (E(10.9b)/V(11.0b) * Re(7.90%) + D(38.0m)/V(11.0b) * Rd(10.53%) * (1-Tc(0.25)))
Discount Rate = 7.90% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 75.02 | Cagr: 0.14%
[DCF] Terminal Value 75.44% ; FCFF base≈98.0m ; Y1≈98.4m ; Y5≈104.2m
[DCF] Fair Price = 58.17 (EV 1.62b - Net Debt -62.0m = Equity 1.68b / Shares 28.9m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -97.37 | Revenue CAGR: -10.21% | SUE: 0.03 | # QB: 0
EPS current Year (2026-12-31): EPS=4.97 | Chg30d=+0.24% | Revisions=+56% | GrowthEPS=+9839.7% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=7.48 | Chg30d=+0.24% | Revisions=+56% | GrowthEPS=+50.6% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: +56%