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UK luxury watch and jewelry retailer selling brands like Rolex and Patek Philippe through stores in the UK and US.
UK luxury watch and jewelry retailer selling brands like Rolex and Patek Philippe through stores in the UK and US.
Brands decide which retailers get scarce models and how many, so allocation, not demand, caps sales of the best-known watches. Rolex's 2023 purchase of the Swiss retailer Bucherer showed makers can move into retail themselves. Many shops are brand-dedicated boutiques opened with the maker's approval.
In one line: The UK's authorized Rolex/luxury watch retail leader, expanding into the US.
Moat: narrow (distribution, brand, scale). Authorized-dealer relationships with Rolex and other luxury brands are scarce and hard to obtain.
Headquarters: Leicester, UK
Size Watches of Switzerland (WOSG.L) is a United Kingdom Consumer Discretionary company (Specialty Stores) with a market value of $2.34B, the 150th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £747.00 on 6 Nov 2026.
Performance Over six months the shares gained 42.6%, against -2.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +7.2%); the operating margin is 9.8% (peer median 8.4%).
Valuation It trades at 14.1× forward earnings against a peer median of 17.1× (9th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.0 points below its cost of capital (15.0% WACC).
Next results Next results expected around 10 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.83B | £1.83B | £1.65B | £1.54B | £1.54B |
| Revenue growth | — | +11% | +7% | 0% | — |
| Gross profit | £237M | £237M | £213M | £189M | £219M |
| EBITDA | £280M | £280M | £268M | £250M | £265M |
| Net income | £98.8M | £98.8M | £53.8M | £59.1M | £122M |
| Free cash flow | £174M | £174M | £101M | £104M | £132M |
| Capital expenditure | £71.6M | £71.6M | £75.4M | £84.0M | £77.7M |
| Total debt | n/a | £548M | £647M | £574M | £530M |
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 |
|---|---|---|---|---|---|---|
| Watches of Switzerland WOSG.L | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% |
| Chow Tai Fook 1929.HK | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% |
| Hour Glass AGS.SI | $1.38B | +10% | +18% | 15% | 10.4× | -8.7% |
| Signet Jewelers SIG | $4.37B | +34% | +1% | 7% | 9.4× | -1.3% |
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 | WOSG.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.1% | +9.5% | 9th highest of 21 |
| 6-month return | +42.6% | -2.2% | 2nd highest of 20 |
| Distance from 52-week high | -6.8% | -22.7% | 4th highest of 21 |
| Revenue growth (TTM) | +10.7% | +7.2% | 11th highest of 21 |
| Operating margin | 9.8% | 8.4% | 8th highest of 21 |
| Forward P/E | 14.1× | 17.1× | 9th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 14.5% | 4.0% | 3rd most demanding of 17 |
| Growth delivered (Del g) | +15.1% | +7.0% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | -0.6 pp | -4.4 pp | 6th most demanding of 17 |
| ROIC minus cost of capital | -3.0 pp | +3.0 pp | 3rd lowest of 21 |
| EV / EBITDA | 8.0× | 11.7× | 7th cheapest of 17 |
| Net debt / EBITDA | 1.7× | 2.1× | 9th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Watches of Switzerland WOSG.L | United Kingdom | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% | +15.1% |
| POYA International 5904.TWO | Taiwan | $2.38B | +65% | +13% | 17% | 18.7× | 0.7% | +7.6% |
| Dunelm DNLM.L | United Kingdom | $2.44B | +24% | +3% | 12% | 11.7× | 2.4% | +6.4% |
| RH RH | United States | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% | +3.8% |
| Lalithaa Jewellery Mart LALITHAA.NS | India | $2.21B | n/a | +48% | 6% | n/a | n/a | n/a |
| Lovisa LOV.AX | Australia | $2.18B | +32% | +18% | 18% | 27.8× | 21.9% | +26.7% |
| Bob's Discount Furniture BOBS | United States | $2.54B | +42% | +17% | 9% | 20.2× | 13.4% | +4.0% |
| Super Retail SUL.AX | Australia | $2.14B | +22% | +3% | 9% | 13.8× | 6.7% | +4.0% |
| Shanghai Yuyuan Tourist Mart 600655.SS | China | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% | -4.4% |
| North West NWC.TO | Canada | $2.02B | +17% | +1% | 8% | 17.1× | -2.8% | +1.9% |
| Advance Auto Parts AAP | United States | $2.75B | -19% | -1% | 4% | 19.2× | 5.6% | -3.2% |
| MTG 7806.T | Japan | $1.96B | +36% | +44% | 11% | 27.4× | n/a | n/a |
| Sonic Automotive SAH | United States | $1.95B | -24% | +2% | 3% | 9.3× | n/a | n/a |
| Chow Tai Seng Jewelry 002867.SZ | China | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% | +11.7% |
| TRIAL Holdings.Inc 141A.T | Japan | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% | +53.9% |
| Group 1 Automotive GPI | United States | $3.12B | -27% | -3% | 5% | 7.1× | -6.1% | +16.3% |
| Warby Parker WRBY | United States | $3.15B | -14% | +11% | 0% | 57.8× | n/a | n/a |
| Eagers Automotive APE.AX | Australia | $3.18B | -31% | +19% | 4% | 16.5× | 5.9% | +8.3% |
| Beijing Caishikou Department Store 605599.SS | China | $1.71B | -23% | +37% | 4% | 13.3× | -17.2% | +32.7% |
| Sally Beauty SBH | United States | $1.71B | +31% | +1% | 9% | 8.3× | -2.6% | +1.0% |
| MINISO 9896.HK | Hong Kong | $3.34B | -25% | +31% | 13% | 9.9× | 1.5% | +18.5% |