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Belgian (BEL20) Market Analysis & Valuation

UpdatedMar 19, 2024
DataAggregated Company Financials
Companies171
  • 7D-1.3%
  • 3M-1.7%
  • 1Y-2.0%
  • YTD-1.9%

Over the last 7 days, the market has dropped 1.3%, driven by a loss of 3.8% in the Consumer Staples sector. In the last 12 months the market has been flat overall. As for the next few years, earnings are expected to grow by 16% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024€355.5b€237.2b€21.5b13.4x16.5x1.5x
Thu, 15 Feb 2024€361.3b€254.0b€23.8b13.3x15.2x1.4x
Sat, 13 Jan 2024€359.6b€247.9b€23.0b12.8x15.7x1.5x
Mon, 11 Dec 2023€357.7b€240.2b€21.5b13.5x16.6x1.5x
Wed, 08 Nov 2023€334.9b€237.9b€21.2b13.2x15.8x1.4x
Fri, 06 Oct 2023€329.2b€242.2b€21.7b12.7x15.1x1.4x
Sun, 03 Sep 2023€341.6b€239.0b€22.0b12.7x15.6x1.4x
Tue, 01 Aug 2023€347.9b€232.0b€23.9b12.2x14.5x1.5x
Thu, 29 Jun 2023€329.9b€235.0b€24.5b11.5x13.5x1.4x
Sat, 27 May 2023€342.5b€236.3b€24.6b11.6x13.9x1.4x
Mon, 24 Apr 2023€364.0b€232.4b€23.0b12.2x15.8x1.6x
Wed, 22 Mar 2023€335.4b€231.0b€21.4b14.7x15.6x1.5x
Fri, 17 Feb 2023€360.0b€231.5b€24.7b10.5x14.6x1.6x
Sun, 15 Jan 2023€356.5b€230.0b€24.9b10.4x14.3x1.5x
Tue, 13 Dec 2022€345.1b€231.5b€25.2b9.6x13.7x1.5x
Thu, 10 Nov 2022€316.0b€225.9b€22.8b9.3x13.8x1.4x
Sat, 08 Oct 2022€309.0b€233.0b€24.1b8.4x12.8x1.3x
Mon, 05 Sep 2022€334.1b€234.0b€27.0b9.1x12.4x1.4x
Wed, 03 Aug 2022€343.3b€229.1b€25.6b9.5x13.4x1.5x
Fri, 01 Jul 2022€335.6b€222.0b€25.7b9.6x13.1x1.5x
Sun, 29 May 2022€363.0b€220.6b€25.8b11.4x14.1x1.6x
Tue, 26 Apr 2022€380.3b€219.5b€26.5b13.3x14.3x1.7x
Thu, 24 Mar 2022€375.0b€217.1b€26.2b13.6x14.3x1.7x
Sat, 19 Feb 2022€375.3b€212.6b€24.7b14.7x15.2x1.8x
Mon, 17 Jan 2022€375.5b€211.1b€23.9b15.1x15.7x1.8x
Wed, 15 Dec 2021€361.1b€212.2b€24.1b15.2x15x1.7x
Fri, 12 Nov 2021€370.9b€210.7b€24.0b15.6x15.4x1.8x
Sun, 10 Oct 2021€362.8b€208.1b€24.6b14.4x14.8x1.7x
Tue, 07 Sep 2021€365.7b€207.2b€24.4b13.9x15x1.8x
Thu, 05 Aug 2021€363.0b€205.8b€24.1b14.3x15.1x1.8x
Sun, 09 May 2021€351.5b€197.9b€16.4b15.9x21.5x1.8x
Price to Earnings Ratio

20.7x


Total Market Cap: €339.5bTotal Earnings: €16.4bTotal Revenue: €197.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Belgian Market Price to Earnings3Y Average 15.2x202220232024
Current Market PE
  • Investors are relatively neutral on the Belgian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 15.2x.
Past Earnings Growth
  • The earnings for Belgian listed companies have grown 9.5% per year over the last three years.
  • Revenues for these companies have grown 6.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Belgian Market?

BE Market-1.34%
Financials2.99%
Consumer Discretionary2.87%
Industrials0.93%
Materials-0.49%
Telecom-1.06%
Utilities-2.03%
Real Estate-2.03%
Tech-2.41%
Healthcare-3.57%
Consumer Staples-3.75%
Energy-6.57%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 74.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 40.7%, which is higher than its past year's earnings growth of 1.3% per year.
  • The Energy sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings growth rate of 1.3% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 38% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
17250539 BNP Paribas Fortis€41.409.5%
+€2.0b
1.0%PB1xFinancials
KBC KBC Group€68.501.4%
+€372.4m
14.4%PB1.1xFinancials
DIE D'Ieteren Group€197.703.0%
+€301.7m
15.7%PE21xConsumer Discretionary
AGS ageas€40.143.1%
+€224.1m
3.0%PE8.1xFinancials
94426466 SCR-Sibelco€6.85k7.0%
+€195.7m
37.6%PE19.8xMaterials
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Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

Latest News

94426466

€6,850.00

SCR-Sibelco

7D

7.0%

1Y

37.6%

AGS

€40.14

ageas

7D

3.1%

1Y

3.0%

ABI

€55.18

Anheuser-Busch InBev

7D

-4.1%

1Y

-2.2%

EURN

€14.18

Euronav

7D

-13.0%

1Y

-9.5%

UCB

€107.55

UCB

7D

-1.0%

1Y

38.7%

ARGX

€333.20

argenx

7D

-7.2%

1Y

-1.0%

DEME

€144.60

DEME Group

7D

2.0%

1Y

25.5%

17250539

€41.40

BNP Paribas Fortis

7D

9.5%

1Y

1.0%

GBLB

€68.52

Groupe Bruxelles Lambert

7D

-0.3%

1Y

-8.6%

SOF

€199.70

Sofina Société Anonyme

7D

-3.1%

1Y

1.9%