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
Thu, 30 Jul 2026	€100.7b	€46.3b	€7.4b	13.2x	13.7x	2.2x
Sat, 27 Jun 2026	€100.9b	€46.3b	€7.3b	13.2x	13.8x	2.2x
Mon, 25 May 2026	€89.1b	€46.1b	€7.3b	13.4x	12.2x	1.9x
Wed, 22 Apr 2026	€89.8b	€44.9b	€7.4b	11.8x	12.1x	2x
Fri, 20 Mar 2026	€79.7b	€45.1b	€7.4b	10.5x	10.8x	1.8x
Sun, 15 Feb 2026	€85.7b	€44.2b	€7.1b	11.7x	12.1x	1.9x
Tue, 13 Jan 2026	€85.8b	€44.2b	€6.4b	12.8x	13.5x	1.9x
Thu, 11 Dec 2025	€80.7b	€44.2b	€6.4b	11.1x	12.7x	1.8x
Sat, 08 Nov 2025	€72.2b	€44.0b	€6.3b	10.9x	11.4x	1.6x
Mon, 06 Oct 2025	€71.8b	€43.6b	€6.2b	10.9x	11.6x	1.6x
Wed, 03 Sep 2025	€68.0b	€43.6b	€6.2b	10.4x	11x	1.6x
Fri, 01 Aug 2025	€66.9b	€43.0b	€6.1b	10.8x	10.9x	1.6x
Sun, 29 Jun 2025	€62.5b	€42.8b	€7.3b	9.5x	8.6x	1.5x
Tue, 27 May 2025	€62.2b	€42.7b	€7.3b	9.1x	8.5x	1.5x
Thu, 24 Apr 2025	€55.8b	€42.2b	€7.2b	8.3x	7.7x	1.3x
Sat, 22 Mar 2025	€60.4b	€41.8b	€7.5b	8.4x	8.1x	1.4x
Mon, 17 Feb 2025	€58.0b	€41.2b	€7.3b	8.2x	8x	1.4x
Wed, 15 Jan 2025	€52.5b	€41.3b	€7.7b	7.7x	6.8x	1.3x
Fri, 13 Dec 2024	€50.3b	€41.3b	€7.7b	7.4x	6.5x	1.2x
Sun, 10 Nov 2024	€47.3b	€41.3b	€7.8b	6.5x	6.1x	1.1x
Tue, 08 Oct 2024	€45.1b	€41.1b	€7.8b	6.6x	5.8x	1.1x
Thu, 05 Sep 2024	€45.3b	€41.1b	€7.8b	7x	5.8x	1.1x
Sat, 03 Aug 2024	€42.3b	€40.2b	€7.8b	7.3x	5.4x	1.1x
Mon, 01 Jul 2024	€42.0b	€40.1b	€7.7b	7.3x	5.5x	1x
Wed, 29 May 2024	€42.8b	€40.1b	€7.7b	7.5x	5.6x	1.1x
Fri, 26 Apr 2024	€42.4b	€39.9b	€7.5b	7.4x	5.7x	1.1x
Sun, 24 Mar 2024	€40.5b	€44.2b	€7.9b	6.3x	5.2x	0.9x
Tue, 20 Feb 2024	€39.6b	€44.4b	€7.7b	5.9x	5.2x	0.9x
Thu, 18 Jan 2024	€39.1b	€45.6b	€8.1b	5.8x	4.8x	0.9x
Sat, 16 Dec 2023	€36.6b	€45.6b	€8.1b	5.6x	4.5x	0.8x
Mon, 13 Nov 2023	€35.3b	€45.2b	€8.0b	5.9x	4.4x	0.8x
Wed, 11 Oct 2023	€34.3b	€44.5b	€7.6b	6.3x	4.5x	0.8x
Fri, 08 Sep 2023	€33.6b	€41.4b	€7.4b	7.1x	4.5x	0.8x
Sun, 06 Aug 2023	€34.5b	€40.8b	€7.2b	6.9x	4.8x	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 13.7x which is higher than its 3-year average PE of 8.1x.

The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 2.2x.

Past Earnings Growth

The earnings for companies in the Financials industry have remained mostly flat over the last three years.
Meanwhile revenues for these companies have grown 4.3% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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


AT Market	-2.13%
Financials	-1.02%
Capital Markets	8.53%
Insurance	2.94%
Diversified Financial	0%	0
Banks	-1.65%

Industry PE

Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 8.1x.

Analysts are expecting annual earnings growth of 13.3%, which is higher than its past year's earnings decline of 10.6% per year.

Forecasted Growth

Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 13% over the next 5 years.
This is better than its past earnings decline of 11% 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
VIG Vienna Insurance Group	€67.70	3.2% +€268.8m	48.5%	PE10.5x
UQA UNIQA Insurance Group	€17.82	2.5% +€135.1m	44.2%	PE12.6x
RBI Raiffeisen Bank International	€56.30	0.6% +€114.9m	120.3%	PB0.8x
WPB Wiener Privatbank	€14.50	11.5% +€7.5m	72.6%	PS4.4x
EIOS Enry S Island Spa Sb	€87.50	2.3% +€519.7k	-26.5%	n/a

Raiffeisen Bank International AG (WBAG:RBI) completed the acquisition of 56.16% stake in Addiko Bank AG (WBAG:ADKO) from Alta Group d.o.o. and other shareholders for approximately €290 million.

Raiffeisen Bank International AG (WBAG:RBI) proposed to acquire Addiko Bank AG (WBAG:ADKO) from Alta Group d.o.o. and other shareholders for approximately €440 million on April 8, 2026. A cash consideration valued at €23.05 per share will be paid by Raiffeisen Bank International AG, equaling to the volume-weighted average share price for the six months period ending on April 7, 2026. As part of consideration, an €444.57 million value is paid towards common equity of Addiko Bank AG. This offer price corresponds to a premium of approximately 20% over the intrinsic equity value determined in an external valuation report by Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H. obtained by RBI. In a related transaction, RBI intends to enter into a transaction agreement with Alta Group d.o.o. (Serbia), one of Addiko’s shareholders, on inter alia the envisaged sale (Carve-Out) by Addiko Bank AG of Addiko Bank a.d. Beograd (Serbia), Addiko Bank d.d. Sarajevo, Addiko Bank d.d. Banja Luka (both Bosnia and Herzegovina), and Addiko Bank A.D. Podgorica (Montenegro), subject to the successful completion of the voluntary public tender offer. Raiffeisen Bank International AG increase the offer price to €26.5 per share. The intended offer will be subject to a minimum acceptance threshold of more than 75% of all issued and outstanding Addiko shares and will not constitute a delisting offer within the meaning of Section 38 (6) to (8) of the Austrian Stock Exchange Act. The completion of the intended offer will be subject to antitrust and regulatory approvals, and other closing conditions. After submission of the voluntary public tender offer, its review by the Austrian Takeover Commission (Übernahmekommission), and publication of the offer document by RBI, the acceptance period will last 10 weeks. The expected completion of the transaction is in the fourth quarter of 2026. Subsequently, on April 9, 2026, Nova Ljubljanska Banka d.d. (LJSE:NLBR) announced a competing, unsolicited offer to acquire Addiko Bank AG for approximately $560 million. As of May 27, 2026, the board of Addiko Bank decided to recommend to the shareholders to accept takeover bid. As of June 3, 2026, Raiffeisen Bank International AG has received declarations of acceptance relating to a total of 6,775,823 Addiko shares corresponding to 34.75% of all issued Addiko shares. This includes 1,878,167 Addiko shares held by Alta Group d.o.o. corresponding to 9.63% of all issued Addiko shares. The acceptance period for the Offer ends on July 22, 2026. As of June 9, 2026, Raiffeisen Bank has received declarations of acceptance relating to a total of 9,831,951 Addiko shares corresponding to 50.42% of all issued Addiko shares. As of June 24, 2026, Nova Ljubljanska banka dd has increased its cash offer for Addiko Bank AG to €721.5 million ($818.5 million) as it seeks to acquire full control of the Austrian lender and outbid proposal from Raiffeisen Bank International AG. Raiffeisen Bank International AG (WBAG:RBI) completed the acquisition of 56.16% stake in Addiko Bank AG (WBAG:ADKO) from Alta Group d.o.o. and other shareholders for approximately €290 million on July 29, 2026. Raiffeisen Bank International AG has received declarations of acceptance relating to a total of 10.831 million Addiko shares. This corresponds to 56.16% of all Addiko shares subject to the Offer. Thus, the minimum acceptance threshold of more than 55% of all Addiko shares subject to the Offer is exceeded. This includes 1.878 million Addiko shares held by Alta Group d.o.o. corresponding to 9.63% of all issued Addiko shares. The acceptance period of the Offer expired on July 29, 2026. For months, Raiffeisen Bank International AG and Nova Ljubljanska banka had been courting the bank, which specializes in Central and Southeastern Europe and emerged from the Hypo-Alpe-Adria-Balkan banks more than ten years ago. In the end, Nova Ljubljanska banka offered €37.00 per share, significantly more than RBI, which only put €26.50 per share on the table – and still came away empty-handed. The lower RBI offer was probably attractive because the bank had already agreed a deal with the Serbian Addiko shareholder Alta Group in the run-up to the offer.

Austrian (ATX) Financials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Raiffeisen Bank International AG (WBAG:RBI) completed the acquisition of 56.16% stake in Addiko Bank AG (WBAG:ADKO) from Alta Group d.o.o. and other shareholders for approximately €290 million.

Raiffeisen Bank International AG (WBAG:RBI) completed the acquisition of 56.16% stake in Addiko Bank AG (WBAG:ADKO) from Alta Group d.o.o. and other shareholders for approximately €290 million.

BG: Higher 2026 Profit Guidance And New Institutional Stake Will Support Upside

EBS: Future Returns Will Balance Poland Expansion Risks With Dividend Support

UQA: Fair Outlook Will Depend On Dividend Support And Margin Assumptions

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

New major risk - Shareholder dilution