Swatch Group stock reports H1 sales growth as profit stays low

Published on 10/05/2026 at 15:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Swatch Group stock carries a CHF 174 Goldman Sachs target dated October 4, 2026. Second-quarter revenue reached CHF 3.12 billion, while net profit was CHF 9 million.

Aquarellbild einer Schweizer Seestadt mit historischem Uhrturm und Alpenpanorama — Aquarellmalerei einer Schweizer Seestadt symbolisiert The Swatch Group AG (CH0012255151), Uhrturm vor alpiner Bergkulisse, Illustration mit AI erstellt.

Swatch Group (ISIN CH0012255151) was trading at CHF 181.75 on SIX at 3:13 p.m. CEST on October 5, 2026, with a market capitalization of CHF 9.5 billion. The latest quarterly figures showed revenue of CHF 3.12 billion and net profit of CHF 9 million, while Goldman Sachs initiated coverage with a Sell rating and a CHF 174 price target on October 4, 2026.

Revenue reached CHF 3.12 billion

According to Markets Insider, Swatch Group reported quarterly revenue of CHF 3.12 billion for the period ending June 30, 2026. That compared with CHF 3.06 billion in the same quarter of the prior year, an increase of 2.0 percent.

Net profit reached CHF 9 million, compared with CHF 3 million a year earlier. The 200 percent increase came from a low comparison base, leaving the absolute profit figure as the more important signal for margins and operating leverage.

Goldman sets a CHF 174 target

Markets Insider reported on October 4, 2026, that Goldman Sachs initiated coverage with a Sell rating and a CHF 174 price target. The bank cited inventory levels and margin pressure linked to Swatch Group maintaining production capacity despite lower demand.

The Goldman target sits CHF 7.75 below the October 5 intraday price of CHF 181.75, a gap of 4.3 percent. The view contrasts with the broader analyst picture published by Investing.com, which listed 21 analysts with a Neutral consensus, an average target of CHF 169.09, a high target of CHF 235.80 and a low target of CHF 90.00.

Stock remains below its yearly high

Swatch Group traded between CHF 179.05 and CHF 184.65 on October 5, while its 52-week range extended from CHF 149.65 to CHF 223.10. The current price was 18.8 percent above the yearly low and 18.5 percent below the yearly high, keeping the stock well inside its annual trading band.

Volume stood at 18,947 shares at 3:13 p.m. CEST, and the intraday change was minus 0.16 percent from the previous close of CHF 182.05. For investors, the central question is whether sales growth can translate into a materially stronger profit base after the weak absolute earnings figure.