One of the worst performers in the recently has been ( ). Currently, the stock’s down about 75% from its highs (set in early 2022). Is it one of the best value stocks in the index today after this enormous decline? Let’s discuss.

The watch market is struggling I follow the luxury watch market pretty closely as I have an interest in timepieces. And I can tell you that right now, the market isn’t doing very well. During the coronavirus pandemic – when people had a lot of disposable income – everyone wanted to buy a luxury watch.

Today however, it’s a very different story. With interest rates at higher levels and pandemic savings long gone, far fewer people have the money for luxury goods. And many of those who do would rather spend their cash on ‘experiences’ instead.

The weakness in the market can be seen in the Watch Market Index – an index of 60 watches from top luxury watch brands (a good indicator of secondary watch market price trends). Currently, this index is locked in a nasty downtrend. Very low valuation The thing is, the current weakness in its market appears to be priced into Watches of Switzerland shares already.

Currently, the stock has a (P/E) ratio of just nine as the earnings per share forecast for this financial year is 42.8p. That’s an incredibly low valuation.

For reference, the median P/E ratio across the FTSE 250 is about 13.3. So the stock’s trading at a massive discount to the index.

One broker that clearly believes the stock’s un.