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← CockpitCompetitor Analysis › BION.SW BB Biotech AGOpen in the cockpit ↗

BB Biotech AGBION.SWCompetitor analysis, valuation and peers

Switzerland · CHF·Financials›Financial Conglomerates

Swiss investment company that invests shareholder capital in a concentrated portfolio of publicly listed biotechnology stocks.

≈ A biotech-focused closed-end investment company like a listed biotech-sector fundMomentum neutral 54
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$3.45B
US dollars, full cap
Free float
99%
of shares outstanding
$/day
$4.93M
20-day average traded
Fwd P/E
20.0×
forward earnings
ROIC−WACC
n/a
WACC 5.1%
Hurdle
n/a
no reverse DCF
Next earnings
77 days
22 Jan 2027
Close · CHFCHF 51.60
1D-0.6%
1W+0.6%
1M+8.0%
3M-3.5%
6M+13.3%
YTD+14.8%
1Y+25.7%
ATR %2.5%
52w lowhigh9.5% off high

What BB Biotech does

Swiss investment company that invests shareholder capital in a concentrated portfolio of publicly listed biotechnology stocks.

Has no product sales: each year's result is the gain or loss on the biotech shares it holds, most of them US-listed, with a small number of large positions carrying most of the weight. Bellevue Asset Management runs the portfolio, and the fund's own shares can trade above or below the value of what it holds.

In one line: A biotech-focused closed-end investment company like a listed biotech-sector fund.

Products and services

  • Portfolio of listed biotech company stakes

Customers

  • Shareholders (indirect exposure to biotech portfol

Where it sits in the supply chain

  • Financials
  • Investment holding company
  • Concentrated public biotech equity…

What could go right

  • Biotech sector rally/M&A activity
  • Successful stock selection by management

What could go wrong

  • Biotech sector volatility
  • Concentration risk in a small number of holdings

Moat: none (scale). An actively managed listed investment vehicle; returns depend entirely on stock-picking in biotech, not an operating moat.

Headquarters: Zurich, Switzerland · Founded: 1993 · Employees: 73

Named competitors

  • Worldwide Healthcare Trust private or unlisted
  • Biotech Growth Trust private or unlisted
  • XBI ETF (index proxy) private or unlisted
  • HBM Healthcare Investments private or unlisted
  • Bellevue Healthcare Trust private or unlisted
  • Polar Capital Global Healthcare Trust private or unlisted

BB Biotech at a glance

Size BB Biotech (BION.SW) is a Switzerland Financials company (Financial Conglomerates) with a market value of $3.45B, the 73rd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 51.60 on 6 Nov 2026.

Performance Over six months the shares gained 13.3%, against +2.7% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 9th highest of 21 in its peer set.

Growth Revenue grew 124.6% over the last twelve months (peer median +3.5%); the operating margin is 490.7% (peer median 22.6%).

Valuation It trades at 20.0× forward earnings against a peer median of 11.6× (7th most expensive of 16).

Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).

Relative performance

9010011012011 May 202611 Aug 20266 Nov 2026BION.SW 113Peer median 105
Six months, rebased to 100: BB Biotech against the median of its 20 peers (local-currency closes).

BB Biotech financials

Reported figures in CHF; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueCHF 219MCHF 76.8MCHF 62.1M-CHF 17.3M-CHF 28.4M
Revenue growth—+24%———
Gross profitn/aCHF 76.8MCHF 57.2M-CHF 23.1M-CHF 30.1M
EBITDACHF 1.08BCHF 587MCHF 76.4M-CHF 206M-CHF 357M
Net incomeCHF 1.08BCHF 578MCHF 75.9M-CHF 207M-CHF 358M
Free cash flowCHF 196MCHF 309MCHF 300MCHF 212MCHF 229M
Capital expenditureCHF 0CHF 0CHF 0CHF 0CHF 0
Total debtCHF 0CHF 0CHF 118MCHF 305MCHF 363M

Quarterly statements and history in the cockpit →

BB Biotech competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-20%0%GBDCROKO-BKYIV3396MFASST600032PURRAIILZEGBUREMAINOBDCFMONCAZMKINV-ACGEOSTOR-BBBUCBION.SW6-month return →1-month return →
Up and to the right = strong over both horizons. BB Biotech is the large dot.

Fundamentals: revenue growth against valuation

0%+200%+400%+600%0×2,500×5,000×7,500×GBDCROKO-BASSTKINV-ABBUCBION.SWRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. BB Biotech is the large dot.

BB Biotech competitors and peer comparison

How BB Biotech compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

BB Biotech against its 20 peers (data as of 6 Nov 2026)
MeasureBION.SWPeer medianRank in peer set
1-month return+8.0%+4.7%4th highest of 21
6-month return+13.3%+2.7%9th highest of 21
Distance from 52-week high-9.5%-14.3%5th highest of 21
Revenue growth (TTM)+124.6%+3.5%3rd highest of 18
Operating margin490.7%22.6%2nd highest of 19
Forward P/E20.0×11.6×7th most expensive of 16

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
BB Biotech BION.SWSwitzerland$3.45B+13%+125%491%20.0×n/an/a
Golub Capital BDC GBDCUnited States$3.31B-3%-9%60%9.9×n/an/a
Roko ROKO-B.STSweden$2.97B+14%+20%18%25.6×n/an/a
Kyivstar KYIVUnited States$2.96B-4%+26%36%9.0×n/an/a
Legend 3396.HKHong Kong$4.03B+34%+27%4%4.8×n/an/a
Wendel MF.PAFrance$4.14B0%-13%12%29.9×n/an/a
Strive ASSTUnited States$2.73B+35%+650%-14,416%4.2×n/an/a
Zhejiang Provincial New Energy Investment 600032.SSChina$2.59B-27%-6%27%n/an/an/a
Hyperliquid Strategies PURRUnited States$2.45B+104%n/a-60%24.0×n/an/a
Authum Investment & Infrastucture AIIL.NSIndia$5.14B+16%-23%79%n/an/an/a
Zegona Communications ZEG.LUnited Kingdom$5.17B-5%+55%8%46.4×n/an/a
Bure Equity BURE.STSweden$2.30B+12%-3%2,018%n/an/an/a
Main Street Capital MAINUnited States$5.33B+6%+3%91%15.0×n/an/a
Blue Owl Capital OBDCUnited States$5.39B-4%+1%54%8.2×n/an/a
Financiere Moncey FMONC.PAFrance$2.19B-21%n/an/an/an/an/a
Azimut AZM.MIItaly$5.70B-1%+17%46%10.6×n/an/a
Kinnevik KINV-A.STSweden$2.04B+27%+675%-9,423%7,720.0×n/an/a
Georgia Capital CGEO.LUnited Kingdom$2.03B+20%n/an/an/an/an/a
Onex ONEX.TOCanada$5.91B-7%+2%173%22.3×n/an/a
Storskogen STOR-B.STSweden$1.97B+25%+2%6%11.6×n/an/a
Brookfield Business BBUC.TOCanada$6.15B-9%+106%13%5.4×n/an/a

Questions

Who are BB Biotech's main competitors?
Named competitors: Worldwide Healthcare Trust (private or unlisted), Biotech Growth Trust (private or unlisted), XBI ETF (index proxy) (private or unlisted), HBM Healthcare Investments (private or unlisted), Bellevue Healthcare Trust (private or unlisted), Polar Capital Global Healthcare Trust (private or unlisted). The cockpit's measured peer set (industry) also includes Golub Capital BDC (GBDC), Roko (ROKO-B.ST), Kyivstar (KYIV), Legend (3396.HK), Wendel (MF.PA), Strive (ASST).
Is BB Biotech expensive compared with its peers?
On forward p/e it trades at 20.0× against a peer median of 11.6×, 7th most expensive of 16 in its peer set.
How has BB Biotech stock performed?
Over six months to 6 Nov 2026 the shares returned +13.3% against +2.7% for the median peer; over one year +25.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.