Austrian (ATX) Financials Sector Analysis

Sector Valuation and Performance

Has the Austrian Financials Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 17 Aug 2026	€107.7b	€47.4b	€8.8b	12.9x	12.2x	2.3x
Wed, 15 Jul 2026	€102.4b	€46.3b	€7.3b	13.2x	14x	2.2x
Fri, 12 Jun 2026	€92.4b	€46.3b	€7.3b	12.4x	12.6x	2x
Sun, 10 May 2026	€89.1b	€46.1b	€7.3b	12.2x	12.2x	1.9x
Tue, 07 Apr 2026	€81.8b	€44.8b	€7.4b	10.9x	11.1x	1.8x
Thu, 05 Mar 2026	€84.1b	€44.5b	€7.4b	11.4x	11.3x	1.9x
Sat, 31 Jan 2026	€89.8b	€44.2b	€6.4b	12.6x	14.1x	2x
Mon, 29 Dec 2025	€83.8b	€44.2b	€6.4b	12.6x	13.2x	1.9x
Wed, 26 Nov 2025	€75.5b	€44.2b	€6.4b	10.6x	11.8x	1.7x
Fri, 24 Oct 2025	€68.8b	€43.8b	€6.2b	10.6x	11x	1.6x
Sun, 21 Sep 2025	€69.2b	€43.6b	€6.2b	10.7x	11.2x	1.6x
Tue, 19 Aug 2025	€71.8b	€43.0b	€6.2b	11.3x	11.6x	1.7x
Thu, 17 Jul 2025	€63.6b	€42.8b	€7.3b	9.8x	8.7x	1.5x
Sat, 14 Jun 2025	€62.0b	€42.8b	€7.3b	9.3x	8.5x	1.4x
Mon, 12 May 2025	€60.7b	€42.7b	€7.3b	9.2x	8.3x	1.4x
Wed, 09 Apr 2025	€51.2b	€41.8b	€7.3b	7.3x	7x	1.2x
Fri, 07 Mar 2025	€60.9b	€41.5b	€7.3b	8.8x	8.4x	1.5x
Sun, 02 Feb 2025	€53.4b	€41.3b	€7.7b	7.9x	6.9x	1.3x
Tue, 31 Dec 2024	€51.4b	€41.3b	€7.7b	7.8x	6.7x	1.2x
Thu, 28 Nov 2024	€46.3b	€41.3b	€7.7b	7x	6x	1.1x
Sat, 26 Oct 2024	€45.5b	€41.1b	€7.8b	6.9x	5.9x	1.1x
Mon, 23 Sep 2024	€45.4b	€41.1b	€7.8b	6.6x	5.8x	1.1x
Wed, 21 Aug 2024	€44.5b	€40.2b	€7.7b	7.5x	5.8x	1.1x
Fri, 19 Jul 2024	€44.0b	€40.1b	€7.7b	7.6x	5.7x	1.1x
Sun, 16 Jun 2024	€40.4b	€40.1b	€7.7b	6.9x	5.3x	1x
Tue, 14 May 2024	€43.1b	€40.1b	€7.7b	7.5x	5.6x	1.1x
Thu, 11 Apr 2024	€41.7b	€44.0b	€7.7b	6.3x	5.4x	0.9x
Sat, 09 Mar 2024	€40.3b	€45.1b	€7.9b	6.2x	5.1x	0.9x
Mon, 05 Feb 2024	€40.0b	€44.9b	€7.7b	5.9x	5.2x	0.9x
Wed, 03 Jan 2024	€38.0b	€45.6b	€8.1b	5.7x	4.7x	0.8x
Fri, 01 Dec 2023	€37.0b	€45.3b	€8.0b	5.5x	4.6x	0.8x
Sun, 29 Oct 2023	€33.8b	€44.8b	€7.9b	5.5x	4.3x	0.8x
Tue, 26 Sep 2023	€33.7b	€44.5b	€7.6b	6.3x	4.4x	0.8x
Thu, 24 Aug 2023	€33.4b	€40.8b	€7.2b	7.4x	4.6x	0.8x

Current Industry PE

Investors are optimistic on the Austrian Financials industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 12.2x which is higher than its 3-year average PE of 8.2x.

The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 2.3x.

Past Earnings Growth

The earnings for companies in the Financials industry have grown 6.8% per year over the last three years.
Revenues for these companies have grown 5.1% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Austrian Financials sector?


AT Market	0.91%
Financials	0.58%
Banks	0.89%
Diversified Financial	0%	0
Insurance	-1.32%
Capital Markets	-1.34%

Industry PE

Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 8.2x.

Analysts are expecting annual earnings growth of 8.1%, which is higher than its past year's earnings growth of 5.3% per year.

Forecasted Growth

Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 8.1% over the next 5 years.
This is better than its past earnings growth rate of 5.3% per year.

In contrast, the Insurance industry is expected to see its earnings grow by 8.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
EBS Erste Group Bank	€122.60	1.3% +€621.0m	41.6%	PB1.7x
RBI Raiffeisen Bank International	€62.90	1.5% +€312.0m	104.2%	PB0.9x
BG BAWAG Group	€180.60	0.1% +€15.4m	58.0%	PB3x
ADKO Addiko Bank	€25.90	0.4% +€1.9m	12.6%	PB0.6x

Nova Ljubljanska Banka d.d. (LJSE:NLBR) cancelled the acquisition of Addiko Bank AG (WBAG:ADKO).

Nova Ljubljanska Banka d.d. (LJSE:NLBR) proposed to acquire Addiko Bank AG (WBAG:ADKO) for approximately €560 million on April 9, 2026. As of June 1, 2026, Nova Ljubljanska Banka d.d. has increased its voluntary all-cash takeover offer for Addiko Bank AG to €650 million, overtaking a rival proposal from Raiffeisen Bank International AG. The price was revised to €33.5 per share from €29. It reflects a 30% premium to Addiko’s six-month volume-weighted average and a 26.4% premium to its closing price on May 29, 2026. Its offer contains no contingent payments and is expected to be earnings-accretive from the second year after completion. Nova Ljubljanska Banka d.d. understands that Alta Pay has announced the intention to tender its 9.63% shareholding in Addiko to the competing offer, but no binding commitment exists, and no tender has yet been made. As of June 11, 2026, Addiko Shareholders who have already accepted the competing offer launched by Raiffeisen Bank International AG are now entitled to revoke their respective acceptance declarations until no later than four trading days before the end of the Acceptance Period and tender their shares into NLB's Offer. As of June 24, 2026, Nova Ljubljanska Banka d.d. has increased its voluntary all-cash takeover offer for Addiko Bank AG to approximately €710 million. The price has been revised to €37 from the previous €33.5. The completion of the Offer will be subject to obtaining a significant majority shareholding in Addiko, clearances from the relevant banking and merger control authorities as well as further customary market closing conditions. The offer memorandum with all necessary enclosures, including the expert statement to the Austrian Takeover Commission, will be filed with the Austrian Takeover Commission in due course and NLB plans to publish the offer memorandum in line with the Austrian Takeover Act following review and non-prohibition of the offer memorandum by the Austrian Takeover Commission. The acceptance period is May 13, 2026, to July 22, 2026. The completion of the Offer remains subject to obtaining a 75% of voting rights based on the number of issued and outstanding Addiko shares, clearances from the relevant banking and merger control authorities as well as further customary market closing conditions as already published in the Offer. As of June 24, 2026, NLB has already obtained clearances from three competition authorities (Austria, North Macedonia and Serbia). The long stop date is May 31, 2027. As of July 15, 2026, the acceptance threshold will be lowered to 50% plus one share corresponding to 9,750,001 Addiko shares. Furthermore, the acceptance period will be extended to Wednesday, July 29, 2026. The transaction would be expected to be materially earnings accretive from the second full year of acquisition, with a broadly neutral impact in the first year. Stifel Nicolaus Europe Limited) acts as financial advisors and Schönherr Rechtsanwälte GmbH is NLB's Austrian legal advisor for Nova Ljubljanska Banka d.d. Nova Ljubljanska Banka d.d. (LJSE:NLBR) cancelled the acquisition of Addiko Bank AG (WBAG:ADKO) on August 3, 2026. Pursuant to the amended offer memorandum, completion of the Offer was conditional on, amongst other things, receipt of acceptance declarations that accounted forat least 50% plus one share of all of Addiko's issued shares. By the end of the Acceptance Period, a total of 6,087,353 Addiko shares had been tendered for sale to the Payment and Settlement Agent; this corresponds to 31,22%of all issued Addiko shares. Settlement of the Offer will therefore not take place, and the Offer will not be extended pursuant to Section 19 para 3 Austrian Takeover Act.

Austrian (ATX) Financials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

RBI: Addiko Control And Legal Overhang Will Compress Future Share Appeal

UQA: Dividend Outlook And Margin Assumptions Will Shape Fairly Valued Profile

BG: Refined P/E Assumptions And Profit Delivery Will Shape Future Returns

Nova Ljubljanska Banka d.d. (LJSE:NLBR) cancelled the acquisition of Addiko Bank AG (WBAG:ADKO).

EBS: Future Returns Will Reflect Poland Expansion And Measured Repricing Potential

VIG: Fairly Valued Outlook With Board Expansion Supporting Forward Return Profile

Full year 2025 earnings released: €0.13 loss per share (vs €2.41 loss in FY 2024)

New minor risk - Share price stability