Swisscom AG

SCMN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	LOCK\|Jw	LOCK\|L@	LOCK\|Swc&Wk

Swisscom Progresses on Italy Integration, but Valuation Remains Stretched

Javier Correonero

Sep 14, 2026

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 and a supportive regulatory environment.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Swisscom AG

Swisscom Progresses on Italy Integration, but Valuation Remains Stretched

Business Strategy and Outlook

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