Five words, in plain English
If you have never read a company's accounts, start here. It takes two minutes and the rest of the page will make sense.
Imagine a small shop that sells one watch in a day.
- The customer pays ₹10,000. That is revenue: the money that came in. It is also called sales, net sales, turnover, or revenue from operations. All four mean roughly the same thing.
- The shop had paid ₹6,000 to buy that watch, and spent ₹2,500 that day on rent, staff, electricity and advertising. Those are expenses: money going out.
- ₹10,000 in, ₹8,500 out. The ₹1,500 left over is profit.
Three things follow from that little sum, and they are the three things people most often get wrong.
Revenue is not profit. A company with enormous revenue can make very little profit, because the money went straight back out again. When you read that a watch group had sales of several billion, that is the top number, not what it kept.
There is more than one kind of profit, and the words matter. Operating profit (sometimes operating income or operating result) is what is left after the costs of actually running the business. Profit for the year, or net profit, is what remains after everything else as well: interest, tax, one-off items. Operating profit is usually the bigger number of the two.
Advertising is just one expense among many. It is the money a company spends persuading you to buy, and it sits inside "expenses" above. Most companies never tell you how much it was. A few do, and this page shows those few.
Two habits that will save you from most mistakes
Always check the currency and the size word. A figure of "6 280" can mean six thousand or six billion depending on whether the top of the table says millions, billions, crores or 億円. Every figure on this page carries its unit.
Always check which year. Watch companies do not all use the calendar year. Swiss groups here close their books on 31 December; the Japanese and Indian companies close on 31 March. "2025" can mean two quite different twelve-month stretches, so this page always states the year-end.
The surprise: almost no watch brand publishes its own numbers
The most useful thing on this page, and the reason so many confident figures online are invented.
You would expect to be able to look up how much Omega sells, or Rolex, or Grand Seiko. You cannot. Of the ten brands this Codex is documenting first, not one publishes its own revenue or profit. Here is why, because the reasons differ.
Most brands are part of a bigger company, and the bigger company reports as a whole. Omega, Longines and Tissot all belong to the Swatch Group, which publishes group figures and segment figures and attaches no money to any individual brand.[Swatch Group, own report] When the group does mention its brands, it does so in words alone, as in a half-year release noting the "Impressive performance of the brands Omega, Longines, Rado, Tissot, Hamilton and Swatch in the USA, with increases of 10% to 30%",[Swatch Group, own report] which tells you a direction and no amount. The brands' own websites carry no financial information at all.[Tissot, own site]
Some groups report a segment that is wider than watches. Seiko Group reports three segments, and the watch-related one is called the "Emotional Value Solutions Business", which contains "Watches / Watch movements / Clocks / High-end jewelry, apparel, and fashion accessories".[Seiko Group, own report] So even that figure is not a watch figure. Citizen's Watches segment is tighter, covering "Watches, Movements",[Citizen, own report] but it still bundles every watch brand the group owns.
One brand is entirely private and publishes nothing. That is Rolex, and it gets its own section below.
And one, unusually, publishes a rough number itself. Junghans, a small German maker, states its own revenue in its press releases, though in rounded words rather than exact figures, and not recently.
Why this matters more than it sounds
Because brand-level figures do not exist, the internet has filled the gap with numbers that look precise and come from nowhere. Rolex's revenue in particular is quoted confidently in many places; none of those figures could be traced to a Rolex document or any regulator's filing. This page publishes no figure it could not read in a company's own report or an official register, so where you see nothing here, it is because there is nothing to see, not because it was not looked for.
What is actually published
The real figures, each with its currency, its period and who published it.
Seiko Group Corporation (Tokyo Stock Exchange, code 8050 · year ends 31 March)
For the year ended 31 March 2026, Seiko Group reported consolidated net sales of 335,686 million yen, against 304,744 million yen the year before.[Seiko Group, own report] Operating profit was 30,873 million yen against 21,240 million,[Seiko Group, own report] and profit attributable to owners of the parent was 21,980 million yen against 13,316 million.[Seiko Group, own report] Notice the gap between the two profit lines, and between both of them and sales: that is the shop sum from the first section, at scale.
Within that, the watch-related segment reported net sales of 220,447 million yen and segment profit of 28,590 million yen,[Seiko Group, own report] but as noted above that segment also contains clocks, jewellery, apparel and accessories, so it is not a figure for watches. Seiko's results presentation does give a "Watches Business" sub-line inside it, at 203.1 billion yen of net sales and 27.0 billion yen of operating profit for the year the company labels FY25, against 176.0 billion and 20.6 billion for FY24[Seiko Group, own report], but that is a presentation line, not a reported segment, and it still covers every Seiko watch brand together.
Citizen Watch Co., Ltd. (Tokyo Stock Exchange, code 7762 · year ends 31 March)
Citizen reported consolidated net sales of 346,808 million yen for the year ended 31 March 2026, against 316,885 million,[Citizen, own report] with operating profit of 30,250 million yen against 20,592 million.[Citizen, own report] Its Watches segment (one of three, alongside Machine Tools and Devices and Components[Citizen, own report]) reported net sales of 197,061 million yen and segment profit of 25,072 million yen, against 179,211 million and 18,159 million.[Citizen, own report]
A trap in that comparison, which Citizen itself flags
Citizen changed how it divides its segments during that year and restated the earlier figures to match.[Citizen, own report] On the old basis, the Watches segment for the year ended 31 March 2025 had been reported as 177,121 million yen; on the new basis the same year is shown as 179,211 million.[Citizen, own report] Neither is wrong: they are the same year counted two ways. If you compare a number from an old report with one from a new report without checking for this, you will measure a change that did not happen.
The Swatch Group Ltd (SIX Swiss Exchange, UHR · year ends 31 December)
For 2025 the Swatch Group reported net sales of CHF 6 280 million,[Swatch Group, own report] operating profit of CHF 135 million against CHF 304 million the previous year,[Swatch Group, own report] and net profit of CHF 25 million against CHF 219 million.[Swatch Group, own report] The prior year's own release gives 2024 net sales as CHF 6 735 million.[Swatch Group, own report]
One figure there is worth pausing on, because it shows what a group total hides. The group's Watches & Jewelry segment, excluding Production, reported an operating profit of CHF 549 million[Swatch Group, own report], considerably more than the group's CHF 135 million. The difference is the Production segment, whose result the company describes as "strongly negative … following the deliberate decision to maintain production capacities and jobs", without publishing an amount for it.[Swatch Group, own report] A group number is the sum of parts that can pull in opposite directions.
Compagnie Financière Richemont SA (SIX Swiss Exchange, CFR · year ends 31 March)
Richemont is not the parent of any of this Codex's first ten brands, but it is included because it reports a watch segment more separately than anyone else. For the year ended 31 March 2026 it reported group sales of €22 420 million and profit for the year of €3 484 million.[Richemont, own report] Its Specialist Watchmakers business area (eight named maisons[Richemont, own report]) reported sales of €3 149 million against €3 283 million, and an operating result of €107 million against €175 million.[Richemont, own report] No individual maison has a figure of its own; they are described in words.[Richemont, own report]
Titan Company Limited (NSE: TITAN, BSE: 500114 · year ends 31 March)
Titan publishes the most detail of any company on this page, as Indian listed companies are required to. For the year ended 31 March 2026 it reported consolidated revenue from operations of ₹87,584 crore against ₹60,456 crore,[Titan, own report] total expenses of ₹81,235 crore,[Titan, own report] profit before tax of ₹6,801 crore[Titan, own report] and profit for the period of ₹5,073 crore against ₹3,337 crore.[Titan, own report] Those three lines do not reconcile on their own, and the statement says why: total income of ₹88,136 crore less expenses of ₹81,235 crore leaves ₹6,902 crore, from which an exceptional item of ₹101 crore (the incremental impact of the Labour Code changes, per the statement's own note) gives the ₹6,801 crore profit before tax.[Titan, own report] The prior year carries no such item, so the two years' profit-before-tax lines are not like for like. This is the kind of gap this page exists to name rather than let a reader trip over.
Its Watches segment reported ₹5,267 crore against ₹4,598 crore, and a segment result of ₹824 crore against ₹548 crore.[Titan, own report] That first figure is not revenue from operations: the segment table's own column heading is Revenue (including other income)
[Titan, own report], and Titan's own presentation calls the same number total income. This page called it "revenue" until the Titan dossier was built and an independent check of the column heading caught it. Read that against the group: Titan's segments are Watches, Jewellery, Eyecare and Others,[Titan, own report] and the Jewellery segment reported ₹79,660 crore of the group's ₹88,136 crore of total income.[Titan, own report] The company most Indian readers know as a watch company earns the large majority of its money from jewellery. That is not a judgement about Titan; it is what its own segment table says.
One caution the company's own label supplies: the segment result is stated as profit "before finance costs, exceptional item and tax",[Titan, own report] so it is not the watch business's final profit, and no after-tax figure for the segment is published.
Junghans (Uhrenfabrik Junghans GmbH & Co. KG, private · calendar year)
Junghans is the exception that proves how unusual disclosure is. It is privately held and files no public accounts that could be retrieved, but it has announced its own revenue in press releases: "über 19 Mio. Euro" (over 19 million euros) for its 2022 financial year,[Junghans, own release] following "knapp 18 Mio. Euro", just under 18 million, for 2021.[Junghans, own release] It also stated 110 employees at Schramberg[Junghans, own release] and that mechanical watches were "rund zwei Dritteln am Gesamtumsatz" (around two thirds of total revenue).[Junghans, own release] Note what these are: rounded words rather than exact amounts, no profit figure at all, and nothing more recent than the 2022 financial year.
NOMOS Glashütte (private)
NOMOS Glashütte/SA Roland Schwertner KG, registered at the Amtsgericht Dresden under HRA 2931,[NOMOS, own site] publishes no revenue, profit, expense or production figure on its own website or press site. It does publish an employee number: its press material refers to "Von den 240 Mitarbeiterinnen und Mitarbeitern".[presse.nomos-glashuette.com] Its filed accounts could not be retrieved from the German official register from this environment, so beyond that headcount this page records only that nothing is published by the company itself.
Advertising: the rarest number of all
You asked how much these companies spend persuading you. Two of them say.
Watch advertising is everywhere: in airports, on wrists at tennis tournaments, across whole magazine issues. How much it costs is almost never disclosed. Of every company examined for this page, exactly two publish an amount.
Titan shows "Advertising" as its own named line in its audited results: ₹1,535 crore consolidated for the year ended 31 March 2026, against ₹1,308 crore the year before, with the standalone company figure at ₹1,220 crore against ₹979 crore.[Titan, own report] It is one figure for the whole company and is not split by segment or brand, so none of it can be attributed to watches specifically.
Richemont shows "Communication expenses" as a line in its consolidated income statement: €1 996 million for the year ended 31 March 2026, against €2 093 million.[Richemont, own report] It too is a single group total, with no split between the jewellery maisons and the watchmakers.
Seiko Group publishes no amount. Its results state only that "advertising and promotion expenses increased more than 10% from the previous fiscal year",[Seiko Group, own report] and its analysis of the change in operating profit shows an increase in advertising expenses as a factor worth 3.2 billion yen[Seiko Group, own report], which is a change, not a level. From that you can tell the direction and roughly how much the increase cost, but not what the total spend is.
Citizen publishes an advertising line (広告宣伝費) in the Japanese data book accompanying its results, but this Codex could not align that table's columns to periods with enough confidence to quote a figure, so none is quoted here. The Swatch Group published no such line in any release that could be opened; its full annual report, where a notes disclosure might sit, could not be retrieved, so its position is recorded as unknown rather than as an absence.
The company that publishes nothing
Rolex, and what the public record actually contains.
Rolex is the most recognised watch brand in the world and one of the least documented financially. Rolex SA is privately held and publishes no financial statements of any kind. Neither the navigation nor the footer of its corporate pages carries an investor-relations, shareholder or financial-reporting section, and none was found on the pages read; the company's own description of itself runs to "an integrated and independent Swiss watch manufacture" headquartered in Geneva.[Rolex, own site]
What does exist is registration. The global identifier register records ROLEX SA with the Swiss identifier CHE105962823, jurisdiction Switzerland, status active, recorded against the Swiss federal UID-Register,[GLEIF register] alongside a Rolex Holding SA at the same Geneva address.[GLEIF register] Those are identity records. They carry no revenue, no profit, no expenses and no employee numbers.
Switzerland's own commercial register, which would carry the registered particulars, refused every request from this environment while this page was written, so nothing is reproduced from it here rather than reproduced second-hand.
The figures this page deliberately does not give you
Search for Rolex's revenue and you will find numbers, often stated to a decimal place, frequently attributed to market-research firms. Not one of them could be traced to a Rolex document or a regulator's filing. Under this Codex's rules they cannot be published, cannot be repeated with a hedge, and cannot be averaged into a range. The honest answer is that Rolex's revenue is not publicly known, and any page that tells you otherwise should be asked where the number came from.
Why you cannot line these figures up
Four reasons the numbers above must not be put in one table and ranked, and this Codex will not do it.
Different years. The Swiss groups here close on 31 December; the Japanese and Indian companies close on 31 March. A "2026" figure from Titan covers April 2025 to March 2026. A "2025" figure from the Swatch Group covers January to December 2025. They overlap by nine months and are not the same period.
Different currencies, and no conversion here. Yen, Swiss francs, euros and rupees appear above exactly as published. Converting them would require choosing an exchange rate and a date, and the choice would change the answer, so this Codex publishes each figure in the currency its company used and leaves conversion to the reader, who can then see the rate they chose.
Different things counted. Seiko's watch-related segment includes jewellery and apparel; Citizen's Watches segment covers watches and movements; Titan's Watches segment covers thirteen brands of watches and wearables; Richemont's Specialist Watchmakers covers eight maisons. Four segments named similarly, four different scopes.
Different layers of the same company. Several figures above exist in more than one version. Titan publishes both consolidated figures, which include its subsidiaries, and standalone figures for the parent company alone: ₹87,584 crore and ₹77,554 crore of revenue respectively for the same year.[Titan, own report] Neither is more correct; they answer different questions. And as Citizen's restatement shows, even one company's own history of a single segment can be published on two bases.
This is why the page presents each company separately, in its own words and units, rather than in a comparison table. A tidy table would be easier to read and would be making four silent errors at once.
What this page will never do
The rules this section of the Codex works under, stated so you can hold it to them.
- No investment information. Nothing here is a view on whether a company is performing well, whether a share is attractive, or what any figure means for the future. The figures are reported; the interpretation is yours.
- No valuations. No brand valuations, no estimates of what a company is worth, and no secondary-market or resale prices for any watch, ever.
- No rankings. Two companies' figures may both appear; this Codex will not tell you which is bigger or better, and as the section above explains, most such comparisons would be false anyway.
- No estimates. Where a figure is not published, it is not published. This page will not divide a segment by a number of brands, apply a margin assumption, or repeat someone else's estimate with a hedge.
- No figure without its source, its currency and its period. If any of the three is missing, the figure does not go on the page.
One consequence is worth stating plainly: this page will often be less satisfying than a page that makes things up. A site willing to estimate can tell you what Rolex earns and how Omega compares to Longines. This one cannot, because nobody has published it, and saying so is the more useful answer, because it tells you exactly how much anyone actually knows.
Sources
Every figure above comes from one of these. They are almost all documents in which a company reports its own results: that is the only place most of these numbers exist, and a company's own report is a primary source for its own figures. Where a figure is a company's own statement about itself, the chip beside it is clay-coloured and says so. No forum, marketplace, dealer blog, editorial site, market-research summary or "brand value" listicle was used for any figure on this page. All read 27 September 2026.
- Tier 1 The Swatch Group Ltd: Swatch Group, Half-Year Report 2025 (results release, company website archive), source read 2026-09-27
- Tier 1 Tissot (brand of The Swatch Group Ltd): Tissot homepage. The navigation and footer were read in full (Men, Women, Collection, New styles, Straps, Brand, Customer Service; footer groups Brand, Services, Legal, Help and Contacts, Commitments). There is no investor relations, financial, annual report or corporate results section, and the Swatch Group is not mentioned anywhere on the page., source read 2026-09-27
- Tier 1 SEIKO GROUP CORPORATION: Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Under Japanese GAAP), financial statements attachment, source read 2026-09-27
- Tier 1 CITIZEN WATCH CO., LTD. / シチズン時計株式会社: Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (English version), source read 2026-09-27
- Tier 1 SEIKO GROUP CORPORATION: FY25 Consolidated Results (results presentation), source read 2026-09-27
- Tier 1 CITIZEN WATCH CO., LTD. / シチズン時計株式会社: 第141期 有価証券報告書 (Annual Securities Report, 141st term) and the 2026年3月期 決算短信, source read 2026-09-27
- Tier 1 CITIZEN WATCH CO., LTD. / シチズン時計株式会社: Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (English version), source read 2026-09-27
- Tier 1 The Swatch Group Ltd: Swatch Group, Key Figures 2025 (ad hoc announcement / results release, company website archive), source read 2026-09-27
- Tier 1 The Swatch Group Ltd: Swatch Group, Key Figures 2024 (results release, company website archive), source read 2026-09-27
- Tier 1 Compagnie Financière Richemont SA: Richemont, Ad hoc announcement pursuant to Art. 53 LR, FY26 annual results, source read 2026-09-27
- Tier 1 Compagnie Financière Richemont SA: Richemont, FY26 Annual Report, source read 2026-09-27
- Tier 1 Titan Company Limited: Statement of Consolidated Audited Financial Results for the Quarter and Year Ended 31 March 2026 (Q4FY26 financial results filing, Titan Company Limited), source read 2026-09-27
- Tier 1 Uhrenfabrik Junghans GmbH & Co. KG: Pressemitteilung, 09. März 2023, "Junghans erzielt 2022 Umsatzplus und positiven Geschäftsabschluss" (company press release PDF hosted on junghans.de), source read 2026-09-27
- Tier 1 Uhrenfabrik Junghans GmbH & Co. KG: Press release, "Junghans erzielt auch 2021 positiven Geschäftsabschluss", source read 2026-09-27
- Tier 1 NOMOS Glashütte/SA Roland Schwertner KG: NOMOS Glashütte statutory imprint / Impressum (company website), source read 2026-09-27
- Tier 1 NOMOS Glashütte/SA Roland Schwertner KG: NOMOS Glashütte press site, Daten und Fakten, source read 2026-09-27
- Tier 1 Rolex SA: Rolex, "About Rolex" page, the only statement about corporate structure found on the page; the page makes no reference to shareholders, investors, annual reports, financial results or the Hans Wilsdorf Foundation, source read 2026-09-27
- Tier 1 Rolex SA: Global Legal Entity Identifier Foundation (GLEIF) LEI record 506700KOZ1A1V0IY7741. The record gives: legal name "ROLEX SA"; registered as CHE105962823; registration authority RA000548 (the Swiss commercial register); legal jurisdiction CH; legal address rue François-Dussaud 3-5-7, Les Acacias, CH-1227; headquarters address rue François-Dussaud 3-5-7, Genève, CH-1211; entity category GENERAL; entity status ACTIVE; registration status ISSUED. No financial information, revenue figure or account detail appears in the record., source read 2026-09-27
- Tier 1 Rolex SA: GLEIF LEI records search on legal name "Rolex SA", source read 2026-09-27