The Swatch Group AG Bearer Shares

UHR: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Swatch Earnings: Strong Revenue Growth but Weak Profits; Shares Fairly Valued

Jelena Sokolova

Jul 22, 2026

Swatch delivered strong revenue growth in the first half of the year, with 8.5% growth at constant exchange rates and 9.4% growth in the second quarter (8% for Richemont's specialist watchmaker division for the comparable quarter). Operating margin was disappointing at 1.7% versus 2.2% last year.

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The Swatch Group AG Bearer Shares

Swatch Earnings: Strong Revenue Growth but Weak Profits; Shares Fairly Valued

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