Austrian (ATX) Market Analysis & Valuation

Market Valuation and Performance

Has the Austrian Market valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 04 Aug 2026	€217.9b	€173.9b	€16.7b	18.2x	13x	1.3x
Thu, 02 Jul 2026	€210.4b	€170.1b	€14.9b	17.3x	14.2x	1.2x
Sat, 30 May 2026	€204.4b	€169.9b	€14.8b	19x	13.8x	1.2x
Mon, 27 Apr 2026	€196.5b	€168.1b	€14.5b	16.5x	13.5x	1.2x
Wed, 25 Mar 2026	€184.0b	€167.4b	€14.1b	17.6x	13x	1.1x
Fri, 20 Feb 2026	€197.5b	€167.2b	€14.1b	17.9x	14x	1.2x
Sun, 18 Jan 2026	€188.8b	€175.9b	€13.2b	16.2x	14.3x	1.1x
Tue, 16 Dec 2025	€180.0b	€177.4b	€13.2b	15.5x	13.6x	1x
Thu, 13 Nov 2025	€173.3b	€177.5b	€12.9b	15.3x	13.4x	1x
Sat, 11 Oct 2025	€166.6b	€178.0b	€12.6b	15.6x	13.3x	0.9x
Mon, 08 Sep 2025	€163.4b	€178.0b	€12.6b	15x	13x	0.9x
Wed, 06 Aug 2025	€162.7b	€175.8b	€12.3b	14.9x	13.2x	0.9x
Fri, 04 Jul 2025	€158.9b	€176.7b	€13.7b	13.5x	11.6x	0.9x
Sun, 01 Jun 2025	€159.5b	€177.1b	€13.5b	12.9x	11.8x	0.9x
Tue, 29 Apr 2025	€149.4b	€178.5b	€13.4b	12.8x	11.2x	0.8x
Thu, 27 Mar 2025	€153.9b	€177.9b	€12.9b	12.9x	11.9x	0.9x
Sat, 22 Feb 2025	€149.0b	€175.5b	€12.1b	13.6x	12.3x	0.8x
Mon, 20 Jan 2025	€140.3b	€177.0b	€12.5b	13.3x	11.2x	0.8x
Wed, 18 Dec 2024	€133.4b	€177.2b	€12.6b	13.1x	10.6x	0.8x
Fri, 15 Nov 2024	€135.2b	€177.0b	€12.8b	10.8x	10.6x	0.8x
Sun, 13 Oct 2024	€137.9b	€179.0b	€13.8b	12.2x	10x	0.8x
Tue, 10 Sep 2024	€139.8b	€179.0b	€13.8b	11.4x	10.1x	0.8x
Thu, 08 Aug 2024	€137.6b	€178.2b	€13.6b	11x	10.1x	0.8x
Sat, 06 Jul 2024	€142.0b	€180.1b	€14.0b	10.9x	10.1x	0.8x
Mon, 03 Jun 2024	€141.7b	€180.6b	€14.5b	11.3x	9.8x	0.8x
Wed, 01 May 2024	€137.1b	€184.4b	€14.6b	10.1x	9.4x	0.7x
Fri, 29 Mar 2024	€134.9b	€188.5b	€14.9b	9.8x	9.1x	0.7x
Sun, 25 Feb 2024	€130.6b	€190.5b	€15.3b	8.7x	8.5x	0.7x
Tue, 23 Jan 2024	€134.1b	€195.4b	€15.9b	8.6x	8.5x	0.7x
Thu, 21 Dec 2023	€136.3b	€195.5b	€15.9b	8.7x	8.6x	0.7x
Sat, 18 Nov 2023	€133.4b	€195.2b	€15.7b	9.1x	8.5x	0.7x
Mon, 16 Oct 2023	€130.3b	€203.7b	€15.5b	9.9x	8.4x	0.6x
Wed, 13 Sep 2023	€129.1b	€203.5b	€15.5b	10.5x	8.4x	0.6x
Fri, 11 Aug 2023	€128.1b	€199.3b	€15.9b	11.4x	8.1x	0.6x

Current Market PE

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

The market is trading at a PE ratio of 13.0x which is higher than its 3-year average PE of 11.2x.

Past Earnings Growth

The earnings for Austrian listed companies have remained mostly flat over the last three years.
Meanwhile revenues have declined 4.4% per year.
This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the Austrian Market?


AT Market	2.91%
Tech	8.57%
Consumer Discretionary	7.27%
Industrials	4.66%
Materials	4.12%
Energy	4.07%
Financials	2.62%
Utilities	1.61%
Real Estate	0.38%
Consumer Staples	0.11%
Healthcare	0%	0
Telecom	-3.70%

Sector PE

Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 319x.

The market's confidence is likely because analysts are expecting annual earnings growth of 73.3% which is higher than its past year's earnings decline of 50.7% per year.

Forecasted Growth

Analysts are most optimistic on the Consumer Staples sector, expecting annual earnings growth of 73% over the next 5 years.
This is better than its past earnings decline of 51% per year.

In contrast, the Real Estate sector is expected to see its earnings decline by 18% 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	Sector
RBI Raiffeisen Bank International	€60.95	5.4% +€1.0b	147.8%	PB0.9x	Financials
ANDR Andritz	€83.90	12.6% +€921.2m	34.2%	PE17.7x	Industrials
OMV OMV	€64.00	4.1% +€840.5m	43.9%	PE14x	Energy
VIG Vienna Insurance Group	€71.30	6.7% +€576.0m	52.8%	PE11x	Financials
BG BAWAG Group	€178.00	3.7% +€485.1m	64.1%	PB2.9x	Financials

Company

Last Price

Valuation

Sector

RBI Raiffeisen Bank International

€60.95

5.4%
+€1.0b

147.8%

PB0.9x

Financials

ANDR Andritz

€83.90

12.6%
+€921.2m

34.2%

PE17.7x

Industrials

OMV OMV

€64.00

4.1%
+€840.5m

43.9%

PE14x

Energy

VIG Vienna Insurance Group

€71.30

6.7%
+€576.0m

52.8%

PE11x

Financials

BG BAWAG Group

€178.00

3.7%
+€485.1m

64.1%

PB2.9x

Financials

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) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

What does frontier-beating open source mean for AI investors?

Latest News

Price target increased by 8.2% to €51.01

Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

ANDR: Fair Value View Will Depend On Green Hydrogen And 2026 Delivery

Second quarter 2026 earnings: EPS exceeds analyst expectations

Second quarter 2026 earnings released: EPS: €0.71 (vs €1.17 in 2Q 2025)

No independent directors

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.

First half 2026 earnings released: EPS: €0.14 (vs €0.11 in 1H 2025)

TKA: Rising Dividend And Improved Earnings Outlook Will Support Future Upside Potential

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

ATS: Elevated Expansion Plans Will Likely Pressure Future Risk Reward Profile

New major risk - Financial position

Investor sentiment deteriorates as stock falls 15%

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

Consensus EPS estimates fall by 24%

Full year 2025 earnings released: €5.88 loss per share (vs €0.93 loss in FY 2024)