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Switzerland's largest listed real-estate company, owning commercial/office properties plus stakes in retail and services businesses.
Switzerland's largest listed real-estate company, owning commercial/office properties plus stakes in retail and services businesses.
Earns mostly rent from office and retail buildings in Swiss cities, usually on long leases that are often tied to inflation, so income is steady. Managing property funds for outside investors through its Swiss Prime Site Solutions arm adds fee income.
In one line: A Swiss diversified REIT, like a smaller Vornado Realty Trust.
Moat: narrow (scale, installed base). A large, prime-located Swiss portfolio gives scale, but returns still track broader property cycles.
Headquarters: Olten, Switzerland · Founded: 1999 · Employees: 210
Size Swiss Prime Site (SPSN.SW) is a Switzerland Real Estate company (Real Estate Development) with a market value of $13.0B, the 32nd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 132.30 on 6 Nov 2026.
Performance Over six months the shares gained 1.4%, against +0.7% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 11.9% over the last twelve months (peer median +4.8%); the operating margin is 75.5% (peer median 28.2%).
Valuation It trades at 31.7× forward earnings against a peer median of 17.8× (5th most expensive of 21).
Credit Swiss Prime Site has 3 bonds outstanding ($1.11B), rated A3 by the agencies and trading like BBB- at a weighted spread of 134 bp.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 548M | CHF 553M | CHF 663M | CHF 659M | CHF 647M |
| Revenue growth | — | -17% | +1% | +2% | — |
| Gross profit | CHF 488M | CHF 485M | CHF 521M | CHF 499M | CHF 442M |
| EBITDA | CHF 420M | CHF 411M | CHF 415M | CHF 395M | CHF 368M |
| Net income | CHF 411M | CHF 382M | CHF 360M | CHF 90.3M | CHF 404M |
| Free cash flow | CHF 327M | CHF 301M | CHF 342M | CHF 374M | CHF 320M |
| Capital expenditure | CHF 78,000 | CHF 135,000 | CHF 867,000 | CHF 2.97M | CHF 11.5M |
| Total debt | n/a | CHF 5.85B | CHF 5.54B | CHF 5.68B | CHF 5.51B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Swiss Prime Site SPSN.SW | $13.0B | +1% | -12% | 76% | 31.7× | n/a |
| PSP Swiss Property PSPN.SW | $8.73B | +5% | +44% | 68% | 27.9× | n/a |
| Allreal ALLN.SW | $3.89B | -8% | +3% | 41% | 24.0× | n/a |
| Mobimo MOBN.SW | $3.17B | -1% | +15% | 42% | 26.9× | n/a |
| Vornado Realty Trust VNO | $6.70B | +11% | +2% | 9% | n/a | n/a |
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.
| Measure | SPSN.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.0% | +8.0% | 9th highest of 21 |
| 6-month return | +1.4% | +0.7% | 11th highest of 21 |
| Distance from 52-week high | -10.4% | -10.9% | 11th highest of 21 |
| Revenue growth (TTM) | -11.9% | +4.8% | 5th lowest of 21 |
| Operating margin | 75.5% | 28.2% | highest of 21 |
| Forward P/E | 31.7× | 17.8× | 5th most expensive of 21 |
| Bond spread | 134 bp | 103 bp | 3rd widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Swiss Prime Site SPSN.SW | Switzerland | $13.0B | +1% | -12% | 76% | 31.7× | n/a | n/a |
| Sino Land 0083.HK | Hong Kong | $12.8B | -20% | +15% | 34% | 20.4× | n/a | n/a |
| Wharf Reic 1997.HK | Hong Kong | $12.6B | +24% | -1% | 73% | 14.8× | n/a | n/a |
| Lodha Developers LODHA.NS | India | $12.5B | +22% | +21% | 31% | 27.0× | n/a | n/a |
| China Res Mixc 1209.HK | Hong Kong | $12.1B | -14% | +10% | 28% | 18.4× | n/a | n/a |
| Klepierre LI.PA | France | $11.6B | +8% | +3% | 63% | 13.1× | n/a | n/a |
| Vonovia VNA.DE | Germany | $16.1B | -24% | -17% | 40% | 9.4× | n/a | n/a |
| China Merchants Shekou Industrial Zone 001979.SZ | China | $10.4B | -10% | -22% | 1% | 69.7× | n/a | n/a |
| Poly Developments & 600048.SS | China | $10.1B | -9% | -4% | 4% | 48.6× | n/a | n/a |
| Jones Lang LaSalle JLL | United States | $16.9B | +12% | +11% | 5% | 13.4× | n/a | n/a |
| Hongkong Land H78.SI | Singapore | $17.7B | -1% | -25% | 23% | 20.9× | n/a | n/a |
| Henderson Land 0012.HK | Hong Kong | $18.3B | -12% | +46% | 20% | 17.2× | n/a | n/a |
| China Overseas 0688.HK | Hong Kong | $18.4B | -13% | +4% | 11% | 10.2× | n/a | n/a |
| Hulic 3003.T | Japan | $9.16B | +7% | +25% | 23% | 11.5× | n/a | n/a |
| Sumitomo Realty & Development C 8830.T | Japan | $18.8B | -34% | +5% | 29% | 12.8× | n/a | n/a |
| Swire Properties 1972.HK | Hong Kong | $19.4B | +4% | +6% | 49% | 18.3× | n/a | n/a |
| PSP Swiss Property PSPN.SW | Switzerland | $8.73B | +5% | +44% | 68% | 27.9× | n/a | n/a |
| DLF DLF.NS | India | $19.7B | +22% | -29% | 13% | 38.3× | n/a | n/a |
| Phoenix Mills PHOENIXLTD.NS | India | $8.13B | +18% | +13% | 52% | 52.0× | n/a | n/a |
| Wharf (Holdings) 0004.HK | Hong Kong | $7.92B | -32% | -1% | 41% | 15.7× | n/a | n/a |
| KE Holdings, Inc. Class A 2423.HK | Hong Kong | $21.4B | +3% | -11% | 6% | 16.8× | n/a | n/a |
Swiss Prime Site has 3 bonds outstanding with $1.11B face value. The agencies rate it A3; its bonds trade like BBB-. Weighted yield 4.36%, a spread of 134 bp over government bonds.