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Swiss watchmaker owning brands from entry-level Swatch to luxury Omega and Longines, also producing watch movements and components for the industry.
Swiss watchmaker owning brands from entry-level Swatch to luxury Omega and Longines, also producing watch movements and components for the industry.
Sells finished watches through its own boutiques and independent retailers, and separately supplies movements, the mechanism inside a watch, to other brands, so it profits from some rivals too. Spans every price tier, from plastic to luxury. The Hayek family holds a controlling stake through the bearer shares.
In one line: A Swiss diversified watch conglomerate with no direct US peer.
Moat: narrow (brand, scale, IP / patents). Vertically integrated from movements to brands across price points, though facing luxury demand softness.
Headquarters: Biel/Bienne, Switzerland · Founded: 1983 · Employees: 31,796
Size Swatch Group Ltd. Bearer (UHR.SW) is a Switzerland Consumer Discretionary company (Other Consumer Specialties) with a market value of $11.3B, the 33rd largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 181.40 on 6 Nov 2026.
Performance Over six months the shares fell 12.5%, against +2.8% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 0.1% over the last twelve months (peer median +10.8%); the operating margin is 1.9% (peer median 12.7%).
Valuation It trades at 43.1× forward earnings against a peer median of 20.8× (3rd most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.1 points below its cost of capital (5.0% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 6.34B | CHF 6.28B | CHF 6.74B | CHF 7.89B | CHF 7.50B |
| Revenue growth | — | -7% | -15% | +5% | — |
| Gross profit | CHF 2.38B | CHF 2.04B | CHF 2.33B | CHF 3.39B | CHF 3.10B |
| EBITDA | CHF 538M | CHF 505M | CHF 670M | CHF 1.52B | CHF 1.44B |
| Net income | CHF 9.00M | CHF 3.00M | CHF 193M | CHF 869M | CHF 807M |
| Free cash flow | CHF 270M | CHF 98.0M | -CHF 170M | -CHF 115M | CHF 385M |
| Capital expenditure | CHF 403M | CHF 462M | CHF 568M | CHF 803M | CHF 399M |
| Total debt | n/a | CHF 37.0M | CHF 13.0M | CHF 75.0M | CHF 6.00M |
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 |
|---|---|---|---|---|---|---|
| Swatch Group Ltd. Bearer UHR.SW | $11.3B | -13% | 0% | 2% | 43.1× | 21.6% |
| Compagnie Financiere Richemont CFR.SW | $122B | +10% | +2% | 21% | 24.8× | 10.5% |
| LVMH Moet Hennessy Louis Vuitton MC.PA | $226B | -11% | -4% | 22% | 18.6× | 10.2% |
| Citizen Watch 7762.T | $2.90B | +3% | +17% | 10% | 12.8× | 10.1% |
| Seiko 8050.T | $4.71B | +54% | +16% | 11% | 21.0× | 24.4% |
| Movado MOV | $495M | +11% | +5% | 7% | 16.1× | -7.2% |
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 | UHR.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.2% | +1.5% | 10th highest of 21 |
| 6-month return | -12.5% | +2.8% | 8th lowest of 20 |
| Distance from 52-week high | -18.7% | -23.9% | 8th highest of 21 |
| Revenue growth (TTM) | -0.1% | +10.8% | 4th lowest of 21 |
| Operating margin | 1.9% | 12.7% | 3rd lowest of 21 |
| Forward P/E | 43.1× | 20.8× | 3rd most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 21.6% | 9.7% | 5th most demanding of 13 |
| Growth delivered (Del g) | +2.3% | +13.5% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | +19.3 pp | -12.4 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -4.1 pp | +7.3 pp | 3rd lowest of 20 |
| EV / EBITDA | 15.3× | 15.8× | 8th cheapest of 15 |
| Net debt / EBITDA | -2.1× | 1.0× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Swatch Group Ltd. Bearer UHR.SW | Switzerland | $11.3B | -13% | 0% | 2% | 43.1× | 21.6% | +2.3% |
| Pandora A/S PNDORA.CO | Denmark | $10.1B | +67% | +1% | 24% | 13.7× | -6.9% | +11.4% |
| Chow Tai Fook 1929.HK | Hong Kong | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% | +6.1% |
| Laopu Gold 6181.HK | Hong Kong | $6.84B | -48% | +109% | 27% | 6.9× | n/a | n/a |
| Seiko 8050.T | Japan | $4.71B | +54% | +16% | 11% | 21.0× | 24.4% | +10.6% |
| Titan TITAN.NS | India | $46.9B | +16% | +45% | 9% | 68.6× | n/a | n/a |
| Samsonite 1910.HK | Hong Kong | $2.52B | -6% | +1% | 15% | 10.3× | -12.2% | +18.0% |
| Lao Feng Xiang 600612.SS | China | $2.04B | -17% | -40% | 6% | 17.2× | -16.9% | +0.4% |
| China National Gold Group Gold Jewellery 600916.SS | China | $1.80B | -20% | -9% | 0% | 28.6× | 24.2% | +15.6% |
| PC Jeweller PCJEWELLER.NS | India | $1.63B | +67% | +29% | 24% | n/a | n/a | n/a |
| Sky Gold and Diamonds SKYGOLD.NS | India | $1.56B | +92% | +73% | 7% | 31.5× | n/a | n/a |
| Savaria SIS.TO | Canada | $1.53B | +3% | +7% | 14% | 19.9× | 9.3% | +20.8% |
| Thangamayil Jewellery THANGAMAYL.NS | India | $1.37B | +1% | +78% | 6% | 29.4× | 28.5% | +36.1% |
| Mokingran Jewellery 2585.HK | Hong Kong | $1.37B | +118% | +5% | 4% | 29.7× | n/a | n/a |
| DR Corporation Limited Class A 301177.SZ | China | $1.29B | -26% | -4% | -6% | 124.3× | n/a | n/a |
| Gens Aurea OROX.MI | Italy | $1.27B | n/a | +95% | 11% | n/a | n/a | n/a |
| Mitsubishi Pencil 7976.T | Japan | $1.16B | +52% | +6% | 13% | 20.6× | n/a | n/a |
| Guangdong CHJ Industry 002345.SZ | China | $1.11B | -19% | +14% | 13% | 10.8× | -11.5% | +23.9% |
| Compagnie Financiere Richemont CFR.SW | Switzerland | $122B | +10% | +2% | 21% | 24.8× | 10.5% | +8.1% |
| Beijing Kingee Culture Development 002721.SZ | China | $965M | -21% | +45% | 15% | n/a | 26.5% | -25.9% |
| Wiselink 8932.TWO | Taiwan | $941M | -19% | +24% | 47% | n/a | 10.0% | +23.2% |