Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Swiss Prime Site AG is one of Europe's largest listed real estate companies and Switzerland's leading real estate firm, managing a portfolio with a fair value of approximately CHF 27 billion, including CHF 13 billion in its own commercial and retail properties concentrated in prime locations across Zurich, Geneva, Basel, and Bern. Operating through Real Estate, Asset Management, and Retail segments, it invests in, develops, leases, and sells properties while providing fund management, investment advisory, and department store operations. The Real Estate division focuses on office spaces, retail, logistics, and mixed-use developments like the iconic Prime Tower in Zurich West, emphasizing sustainability and proactive portfolio management via a 'capital recycling' strategy. Swiss Prime Site Solutions, its asset management arm, oversees CHF 14 billion in assets, primarily residential, serving institutional investors and pension funds with open- and closed-ended funds, mandates, and comprehensive real estate services. Founded in 1999 and headquartered in Zug, the company prioritizes innovation, low vacancy rates, climate-neutral operations by 2040, and long-term value creation for diverse stakeholders through scale advantages and ESG integration. With around 570 employees, it maintains a diversified tenant base of 2,000 and high liquidity on the Swiss exchange.
73.76% operating margin is above average. ROIC at 2.53%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 16.3% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 11% versus the prior year, cash generation momentum has weakened. Net debt of CHF 5.82B represents 16.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
CHF 552M
▼ -16.3% YoY
Net Income (TTM)
CHF 382M
▲ +6.2% YoY
Op. Margin
73.76%
▲ +12.0pp YoY
ROIC
2.53%
▼ -0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
CHF 351M
▼ -10.8% YoY
Op. Cash Flow (TTM)
CHF 506M
▲ +5.2% YoY
Net Debt
CHF 5.82B
Cash & Equiv.
CHF 33M
3Y CAGR: -4.9%
3Y CAGR: +0.1%
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