The Swatch Group AG

SWGAF · OTC

Company research

The Swatch Group AG (OTC: SWGAF) is a Swiss-headquartered global leader in the design, manufacture, and distribution of watches, jewelry, and related electronic components, widely recognized as the world's largest watchmaking group. Founded in 1983 through the merger of ASUAG and SSIH, the company operates across two core segments — Watches & Jewelry and Electronic Systems — and commands a prestigious portfolio of 16 brands spanning all price segments, including Breguet, Harry Winston, Omega, Longines, Tissot, and Swatch. With approximately 32,477 employees across more than 50 countries and net sales of CHF 6.28 billion in 2025, the Group maintains an unparalleled vertically integrated value chain, producing nearly all components required for its timepieces in-house. Under the leadership of CEO Georges Nicolas Hayek Jr., the company is headquartered in Biel/Bienne, Switzerland, and holds a market capitalization of approximately USD 13.4 billion.

Research reports

ISEG – Lisbon School Of Economics & Management, University Of Lisbon · January 1, 2026Equity Research: Swatch Group

Master’s final work providing a full equity research assessment of The Swatch Group, combining FCFE-based DCF and relative valuation using peer multiples to estimate fair value and derive a Neutral/Hold view, with base-case value per bearer share close to the late-2024 market price and scenario analysis showing significant downside if demand and margins disappoint; the report details industry structure, strategic positioning, ESG considerations, risks such as China exposure and competition from substitutes, and concludes that upside is limited versus fundamental and macro uncertainties.