Swisscom AG

SCMN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Downgrading Swisscom to No Moat Rating From Narrow; Fair Value Estimate of CHF 400

Javier Correonero

Jul 11, 2025

Business Strategy and Outlook

Swisscom is the leading telecom operator in Switzerland. The company has one of the highest market shares among European telecom operators while also charging high prices to customers. High prices have been maintained due to the overall health of the Swiss economy, a supportive regulatory environment, and lack of alternatives to Swisscom’s networks.

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Swisscom AG

Downgrading Swisscom to No Moat Rating From Narrow; Fair Value Estimate of CHF 400

Business Strategy and Outlook

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