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Swisscom

DB:SWJA
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SWJA
DB
CHF27B
Market Cap
  1. Home
  2. DE
  3. Telecom
Company description

Swisscom AG provides telecommunication services primarily in Switzerland, Italy, and internationally. The last earnings update was 51 days ago. More info.


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SWJA Share Price and Events
7 Day Returns
-0.4%
DB:SWJA
3.7%
DE Telecom
14.8%
DE Market
1 Year Returns
13.5%
DB:SWJA
-22.7%
DE Telecom
-14.1%
DE Market
SWJA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Swisscom (SWJA) -0.4% -4.1% 4.4% 13.5% 13.6% -
DE Telecom 3.7% -22.8% -18.2% -22.7% -31.2% -35.3%
DE Market 14.8% -20% -23.5% -14.1% -22.8% -26.7%
1 Year Return vs Industry and Market
  • SWJA outperformed the Telecom industry which returned -22.7% over the past year.
  • SWJA outperformed the Market in Germany which returned -14.1% over the past year.
Price Volatility
SWJA
Industry
5yr Volatility vs Market

SWJA Value

 Is Swisscom undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Swisscom to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Swisscom.

DB:SWJA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:SWJA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.359 (1 + (1- 18%) (35.56%))
0.641
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 5.44%)
3.96%

Discounted Cash Flow Calculation for DB:SWJA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Swisscom is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:SWJA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 3.96%)
2020 1,393.71 Analyst x7 1,340.60
2021 1,362.64 Analyst x7 1,260.76
2022 1,349.40 Analyst x5 1,200.93
2023 1,316.00 Analyst x4 1,126.57
2024 1,468.00 Analyst x2 1,208.80
2025 1,487.44 Est @ 1.32% 1,178.13
2026 1,499.49 Est @ 0.81% 1,142.41
2027 1,506.24 Est @ 0.45% 1,103.82
2028 1,509.22 Est @ 0.2% 1,063.85
2029 1,509.55 Est @ 0.02% 1,023.53
Present value of next 10 years cash flows CHF11,649.00
DB:SWJA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CHF1,509.55 × (1 + -0.39%) ÷ (3.96% – -0.39%)
CHF34,551.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF34,551.05 ÷ (1 + 3.96%)10
CHF23,426.91
DB:SWJA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF11,649.00 + CHF23,426.91
CHF35,075.91
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF35,075.91 / 51.80
CHF677.12
DB:SWJA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SWJA represents 0.09165x of SWX:SCMN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09165x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 677.12 x 0.09165
€62.06
Value per share (EUR) From above. €62.06
Current discount Discount to share price of €47.20
= -1 x (€47.20 - €62.06) / €62.06
23.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Swisscom is available for.
Intrinsic value
24%
Share price is €47.2 vs Future cash flow value of €62.06
Current Discount Checks
For Swisscom to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Swisscom's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Swisscom's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Swisscom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Swisscom's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SWJA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CHF CHF32.28
SWX:SCMN Share Price ** SWX (2020-03-25) in CHF CHF515
Europe Telecom Industry PE Ratio Median Figure of 61 Publicly-Listed Telecom Companies 17.13x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.62x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Swisscom.

DB:SWJA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:SCMN Share Price ÷ EPS (both in CHF)

= 515 ÷ 32.28

15.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swisscom is good value based on earnings compared to the Europe Telecom industry average.
  • Swisscom is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Swisscom's expected growth come at a high price?
Raw Data
DB:SWJA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
-3.5%per year
Europe Telecom Industry PEG Ratio Median Figure of 33 Publicly-Listed Telecom Companies 1.35x
Germany Market PEG Ratio Median Figure of 251 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:SWJA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.96x ÷ -3.5%

-4.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swisscom earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Swisscom's assets?
Raw Data
DB:SWJA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CHF CHF171.27
SWX:SCMN Share Price * SWX (2020-03-25) in CHF CHF515
Germany Telecom Industry PB Ratio Median Figure of 7 Publicly-Listed Telecom Companies 1.12x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.43x
DB:SWJA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:SCMN Share Price ÷ Book Value per Share (both in CHF)

= 515 ÷ 171.27

3.01x

* Primary Listing of Swisscom.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swisscom is overvalued based on assets compared to the DE Telecom industry average.
X
Value checks
We assess Swisscom's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Telecom industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Telecom industry average (and greater than 0)? (1 check)
  5. Swisscom has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SWJA Future Performance

 How is Swisscom expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Swisscom expected to grow at an attractive rate?
  • Swisscom's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Swisscom's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Swisscom's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SWJA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SWJA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts -3.5%
DB:SWJA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts -1%
Germany Telecom Industry Earnings Growth Rate Market Cap Weighted Average 19.2%
Germany Telecom Industry Revenue Growth Rate Market Cap Weighted Average 1.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:SWJA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SWJA Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 11,226 1,676 2
2023-12-31 10,779 3,684 1,367 4
2022-12-31 11,062 4,042 1,415 13
2021-12-31 11,154 3,993 1,439 17
2020-12-31 11,216 3,934 1,438 17
2020-03-28
DB:SWJA Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-12-31 11,453 3,981 1,672
2019-09-30 11,481 4,107 1,493
2019-06-30 11,572 3,983 1,519
2019-03-31 11,689 3,867 1,531
2018-12-31 11,714 3,720 1,527
2018-09-30 11,747 3,720 1,517
2018-06-30 11,777 3,802 1,520
2018-03-31 11,716 3,983 1,578
2017-12-31 11,662 4,091 1,570
2017-09-30 11,604 3,764 1,675
2017-06-30 11,564 3,841 1,655
2017-03-31 11,589 3,855 1,612

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Swisscom's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Swisscom's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:SWJA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Swisscom Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SWJA Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 32.36 32.36 32.36 1.00
2023-12-31 26.40 31.43 20.75 4.00
2022-12-31 27.98 33.72 19.98 11.00
2021-12-31 27.91 33.86 21.18 15.00
2020-12-31 27.80 30.70 24.11 15.00
2020-03-28
DB:SWJA Past Financials Data
Date (Data in CHF Millions) EPS *
2019-12-31 32.28
2019-09-30 28.82
2019-06-30 29.32
2019-03-31 29.56
2018-12-31 29.48
2018-09-30 29.29
2018-06-30 29.34
2018-03-31 30.46
2017-12-31 30.31
2017-09-30 32.34
2017-06-30 31.95
2017-03-31 31.12

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Swisscom is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Swisscom's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Swisscom has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SWJA Past Performance

  How has Swisscom performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Swisscom's growth in the last year to its industry (Telecom).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Swisscom's year on year earnings growth rate has been positive over the past 5 years.
  • Swisscom's 1-year earnings growth exceeds its 5-year average (9.5% vs 0.1%)
  • Swisscom's earnings growth has not exceeded the Europe Telecom industry average in the past year (9.5% vs 10.4%).
Earnings and Revenue History
Swisscom's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Swisscom Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SWJA Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 11,453.00 1,672.00
2019-09-30 11,481.00 1,493.00 57.00
2019-06-30 11,572.00 1,519.00 108.00
2019-03-31 11,689.00 1,531.00 155.00
2018-12-31 11,714.00 1,527.00 207.00
2018-09-30 11,747.00 1,517.00 356.00
2018-06-30 11,777.00 1,520.00 305.00
2018-03-31 11,716.00 1,578.00 208.00
2017-12-31 11,662.00 1,570.00 206.00
2017-09-30 11,604.00 1,675.00 199.00
2017-06-30 11,564.00 1,655.00 199.00
2017-03-31 11,589.00 1,612.00 249.00
2016-12-31 11,643.00 1,604.00 199.00
2016-09-30 11,670.00 1,502.00 345.00
2016-06-30 11,689.00 1,366.00 345.00
2016-03-31 11,670.00 1,375.00 345.00
2015-12-31 11,678.00 1,361.00 345.00
2015-09-30 11,725.00 1,413.00 346.00
2015-06-30 11,761.00 1,679.00 346.00
2015-03-31 11,775.00 1,676.00 346.00
2014-12-31 11,703.00 1,694.00 346.00
2014-09-30 11,600.00 1,759.00 334.00
2014-06-30 11,538.00 1,669.00 334.00
2014-03-31 11,521.00 1,666.00 334.00
2013-12-31 11,434.00 1,685.00 334.00
2013-09-30 11,420.00 1,725.00 307.00
2013-06-30 11,359.00 1,723.00 307.00
2013-03-31 11,316.00 1,754.00 307.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Swisscom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Swisscom used its assets more efficiently than the Europe Telecom industry average last year based on Return on Assets.
  • Swisscom's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Swisscom's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Telecom industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Swisscom has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SWJA Health

 How is Swisscom's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Swisscom's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Swisscom's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Swisscom's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Swisscom's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Swisscom Company Filings, last reported 2 months ago.

DB:SWJA Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 8,875.00 7,460.00 401.00
2019-09-30 7,989.00 7,903.00 292.00
2019-06-30 7,890.00 8,564.00 353.00
2019-03-31 8,390.00 7,533.00 393.00
2018-12-31 8,208.00 7,783.00 474.00
2018-09-30 8,314.00 8,301.00 458.00
2018-06-30 7,685.00 8,978.00 591.00
2018-03-31 8,399.00 8,432.00 895.00
2017-12-31 7,645.00 7,825.00 603.00
2017-09-30 7,148.00 7,911.00 414.00
2017-06-30 6,531.00 8,551.00 482.00
2017-03-31 6,897.00 7,811.00 492.00
2016-12-31 6,522.00 7,988.00 506.00
2016-09-30 4,553.00 8,285.00 364.00
2016-06-30 4,263.00 8,943.00 474.00
2016-03-31 4,928.00 8,094.00 375.00
2015-12-31 5,242.00 8,067.00 409.00
2015-09-30 4,963.00 8,139.00 208.00
2015-06-30 4,917.00 8,580.00 241.00
2015-03-31 5,198.00 7,713.00 235.00
2014-12-31 5,486.00 8,043.00 342.00
2014-09-30 5,306.00 8,293.00 316.00
2014-06-30 5,296.00 8,318.00 338.00
2014-03-31 6,115.00 8,217.00 1,068.00
2013-12-31 6,002.00 8,168.00 883.00
2013-09-30 5,204.00 8,513.00 754.00
2013-06-30 4,685.00 8,311.00 187.00
2013-03-31 5,191.00 8,156.00 723.00
  • Swisscom's level of debt (84.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (146.6% vs 84.1% today).
  • Debt is well covered by operating cash flow (53.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.9x coverage).
X
Financial health checks
We assess Swisscom's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Swisscom has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SWJA Dividends

 What is Swisscom's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.27%
Current annual income from Swisscom dividends. Estimated to be 4.22% next year.
If you bought €2,000 of Swisscom shares you are expected to receive €85 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Swisscom's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.66%).
  • Swisscom's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
Upcoming dividend payment

Purchase Swisscom before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:SWJA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
Germany Telecom Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 5.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 319 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:SWJA Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 22.00 1.00
2023-12-31 20.25 4.00
2022-12-31 21.31 12.00
2021-12-31 22.06 18.00
2020-12-31 22.03 19.00
2020-03-28
DB:SWJA Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2020-02-06 22.000 4.113
2019-02-07 22.000 4.478
2018-02-07 22.000 4.765
2017-02-08 22.000 4.604
2016-02-04 22.000 4.695
2015-02-05 22.000 4.197
2014-11-06 22.000 4.014
2014-02-06 22.000 4.180
2013-04-04 22.000 5.017
2012-11-08 22.000 5.411
2012-08-08 22.000 5.696
2012-05-02 22.000 5.958
2011-02-16 21.000 5.685
2010-02-18 20.000 5.083

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Swisscom's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Swisscom's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Swisscom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Swisscom has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SWJA Management

 What is the CEO of Swisscom's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Urs Schaeppi
COMPENSATION CHF1,759,000
AGE 59
TENURE AS CEO 6.3 years
CEO Bio

Mr. Urs Schaeppi, dipl. Ing. ETH, lic. oec. HSG, has been the Chief Executive Officer and Head of Swisscom - Switzerland at Swisscom AG since November 7, 2013 and January 1, 2013 respectively. Mr. Schaeppi has been a Member of Executive Board at Swisscom AG since March 2006. He served as the Acting Chief Executive Officer at Swisscom AG from July 2013 to November 2013. Mr. Schaeppi Head of Swisscom (Switzerland) Ltd since 2013. He served as the Head of Corporate Business at Swisscom AG and Swisscom (Switzerland) Ltd since August 2007. He served as Chief Executive Officer of Swisscom Solutions Ag from March 2006 to December 2007. He served as Head of commercial business at Swisscom Mobile until March 2006 and as a Member of the Executive Board at Swisscom Mobile since 1998. Prior to joining Swisscom, he held various positions as Managing Director of Papierfabrik Biberist from 1994 to 1998 and as Head of Marketing Electronics at Ascom AG from 1991 to 1994 as well as at Iveco Motorenforschungs AG from 1987 to 1991. He is Chairman of Fastweb SpA since June 2007 and is its Director since December 2008. He served as a Director of BV Holding AG till 2013. Mr. Schaeppi holds Bachelor degrees in Engineering at the University of Swiss Federal Institute of Technology (ETH), Zurich and Business Administration from the Graduate School of Business, Economics, Law and Social Sciences, University St. Gallen.

CEO Compensation
  • Urs's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Urs's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Swisscom management team in years:

4.7
Average Tenure
51
Average Age
  • The tenure for the Swisscom management team is about average.
Management Team

Urs Schaeppi

TITLE
CEO, Head of Swisscom - Switzerland & Member of Executive Board
COMPENSATION
CHF2M
AGE
59
TENURE
6.3 yrs

Mario Rossi

TITLE
CFO, Head of Business Steering Switzerland & Member of Executive Board
AGE
59
TENURE
7.2 yrs

Hans Werner

TITLE
Chief Personnel Officer
COMPENSATION
CHF55K
AGE
59
TENURE
8.5 yrs

Dirk Wierzbitzki

TITLE
Head of Residential Customers & Member of Executive Board
AGE
54
TENURE
4.2 yrs

Urs Lehner

TITLE
Head of Business Customers & Member of Executive Board
AGE
51
TENURE
2.8 yrs

Christoph Aeschlimann

TITLE
Head of IT
AGE
42
TENURE
1.1 yrs

Louis Schmid

TITLE
Head of Investor Relations
AGE
48
TENURE
4.7 yrs

Martin Vögeli

TITLE
Head of Group Strategy & Board Services
AGE
50

Marcel Walker

TITLE
Head of Banking Division and Cloud & Data Centre Services
TENURE
5.7 yrs

Ivan Buechi

TITLE
Head of Digital Banking Platforms
AGE
41
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the Swisscom board of directors in years:

2.9
Average Tenure
58
Average Age
  • The average tenure for the Swisscom board of directors is less than 3 years, this suggests a new board.
Board of Directors

Hansueli Loosli

TITLE
Chairman of the Board of Directors
COMPENSATION
CHF560K
AGE
64
TENURE
8.5 yrs

Frank Esser

TITLE
Vice Chairman
COMPENSATION
CHF224K
AGE
61
TENURE
1.9 yrs

Barbara Frei

TITLE
Director
COMPENSATION
CHF207K
AGE
49
TENURE
8.2 yrs

Roland Abt

TITLE
Director
COMPENSATION
CHF266K
AGE
62
TENURE
3.9 yrs

Alain Carrupt

TITLE
Director
COMPENSATION
CHF181K
AGE
64
TENURE
3.9 yrs

Renzo Simoni

TITLE
Director
COMPENSATION
CHF252K
AGE
58
TENURE
2.9 yrs

Anna Mossberg

TITLE
Director
COMPENSATION
CHF194K
AGE
47
TENURE
1.9 yrs

Sandra Lathion-Zweifel

TITLE
Director
COMPENSATION
CHF144K
AGE
43
TENURE
0.9 yrs

Michael Rechsteiner

TITLE
Director
COMPENSATION
CHF143K
AGE
56
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Swisscom's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Swisscom has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SWJA News

Simply Wall St News

SWJA Company Info

Description

Swisscom AG provides telecommunication services primarily in Switzerland, Italy, and internationally. The company operates through three segments: Swisscom Switzerland, Fastweb, and Other Operating. It offers broadband, TV, fixed-network, and mobile phone subscription services, as well as national and international telephone, and data traffic services for residential customers, and small and medium-sized enterprises. The company also provides cloud, outsourcing, workplace, mobile phone, networking, business process optimization, SAP, and security and authentication solutions, as well as a range of services to the banking industry; Internet of Things solutions; digitization services to the healthcare sector; IT systems for health insurance companies; fixed and mobile networks by other telecommunication service providers; and roaming to foreign operators whose customers use its mobile networks, as well as broadband services and regulated products. In addition, it plans, operates, and maintains network infrastructure and IT systems; provides support functions to finance, human resource, and strategy, as well as management of real estate and vehicle fleet; and offers broadband services, such as voice, data, and TV services, as well as video-on-demand for residential and corporate customers. Further, the company provides mobile phone services; IT and network services, and customized solutions; and online and telephone directories, as well as sells merchandise products. Additionally, it offers collection services for radio and TV license fees; and cross-platform retail media and security communication services, as well as builds and maintains wired and wireless networks. Swisscom AG was founded in 1998 and is headquartered in Bern, Switzerland.

Details
Name: Swisscom AG
SWJA
Exchange: DB
Founded: 1998
CHF25,160,397,697
51,801,942
Website: http://www.swisscom.ch
Address: Swisscom AG
Alte Tiefenaustrasse 6,
Bern,
Bern, 3050,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX SCMN Ordinary Shares SIX Swiss Exchange CH CHF 05. Oct 1998
OTCPK SWZC.F Ordinary Shares Pink Sheets LLC US USD 05. Oct 1998
DB SWJ Ordinary Shares Deutsche Boerse AG DE EUR 05. Oct 1998
XTRA SWJ Ordinary Shares XETRA Trading Platform DE EUR 05. Oct 1998
LSE 0QKI Ordinary Shares London Stock Exchange GB CHF 05. Oct 1998
OTCPK SCMW.Y SPON LVL3 ADR EACH REP 1/10 CHF9(RG) Pink Sheets LLC US USD 05. Oct 1998
DB SWJA SPON LVL3 ADR EACH REP 1/10 CHF9(RG) Deutsche Boerse AG DE EUR 05. Oct 1998
Number of employees
Current staff
Staff numbers
19,317
Swisscom employees.
Industry
Integrated Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 00:49
End of day share price update: 2020/03/25 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/06
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.