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Belgian (BEL20) Market Analysis & Valuation

UpdatedApr 13, 2025
DataAggregated Company Financials
Companies167
  • 7D-1.5%
  • 3M-1.0%
  • 1Y-2.0%
  • YTD-3.0%

Over the last 7 days, the market has dropped 1.5%, driven by a decline of 6.2% in the Healthcare sector. Although the market performance has been flat over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 13 Apr 2025€352.9b€222.8b€22.7b12.7x15.5x1.6x
Tue, 11 Mar 2025€386.1b€233.1b€22.5b14x17.1x1.7x
Thu, 06 Feb 2025€369.6b€233.6b€21.1b12.5x17.5x1.6x
Sat, 04 Jan 2025€368.4b€234.4b€21.1b12.9x17.5x1.6x
Mon, 02 Dec 2024€373.9b€232.7b€21.5b14x17.4x1.6x
Wed, 30 Oct 2024€384.2b€224.9b€21.3b13.9x18x1.7x
Fri, 27 Sep 2024€392.0b€229.6b€21.0b14.5x18.6x1.7x
Sun, 25 Aug 2024€374.4b€227.2b€20.2b15.7x18.5x1.6x
Tue, 23 Jul 2024€376.0b€231.6b€21.3b15.4x17.7x1.6x
Thu, 20 Jun 2024€365.5b€232.8b€21.6b16x16.9x1.6x
Sat, 18 May 2024€381.8b€232.4b€21.2b14.6x18x1.6x
Mon, 15 Apr 2024€364.7b€235.4b€21.8b15.5x16.7x1.5x
Wed, 13 Mar 2024€364.7b€248.8b€22.6b13.5x16.2x1.5x
Fri, 09 Feb 2024€341.8b€242.3b€20.5b13.6x16.7x1.4x
Sun, 07 Jan 2024€359.5b€247.9b€23.0b12.7x15.6x1.4x
Tue, 05 Dec 2023€351.9b€239.9b€21.5b13.5x16.4x1.5x
Thu, 02 Nov 2023€326.5b€239.9b€21.3b13x15.3x1.4x
Sat, 30 Sep 2023€339.2b€241.9b€21.7b12.7x15.6x1.4x
Mon, 28 Aug 2023€339.5b€234.4b€22.2b12.6x15.3x1.4x
Wed, 26 Jul 2023€351.3b€234.4b€24.3b11.6x14.5x1.5x
Fri, 23 Jun 2023€335.5b€234.8b€24.4b11.4x13.7x1.4x
Sun, 21 May 2023€348.6b€235.7b€24.6b11.7x14.2x1.5x
Tue, 18 Apr 2023€364.7b€233.6b€23.7b11.4x15.4x1.6x
Thu, 16 Mar 2023€346.8b€232.6b€23.8b10.7x14.5x1.5x
Sat, 11 Feb 2023€356.9b€231.4b€24.6b10.7x14.5x1.5x
Mon, 09 Jan 2023€353.4b€231.0b€24.9b9.9x14.2x1.5x
Wed, 07 Dec 2022€346.3b€231.6b€25.2b9.6x13.8x1.5x
Fri, 04 Nov 2022€326.4b€233.7b€25.3b8.8x12.9x1.4x
Sun, 02 Oct 2022€310.2b€232.7b€24.1b8.6x12.9x1.3x
Tue, 30 Aug 2022€336.8b€233.0b€26.4b9.3x12.8x1.4x
Thu, 28 Jul 2022€348.7b€226.1b€26.0b9.5x13.4x1.5x
Sat, 25 Jun 2022€339.1b€221.5b€25.7b10.1x13.2x1.5x
Mon, 23 May 2022€359.5b€220.9b€25.7b11.7x14x1.6x
Wed, 20 Apr 2022€385.0b€219.0b€26.4b13.6x14.6x1.8x
Price to Earnings Ratio

14.6x


Total Market Cap: €385.0bTotal Earnings: €26.4bTotal Revenue: €219.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Belgian Market Price to Earnings3Y Average 15.6x202320242025
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 15.6x.
Past Earnings Growth
  • The earnings for Belgian listed companies have declined 4.9% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Belgian Market?

BE Market-1.54%
Energy2.63%
Financials2.40%
Utilities1.90%
Industrials1.69%
Telecom0.093%
Consumer Discretionary-0.061%
Tech-1.45%
Real Estate-2.03%
Consumer Staples-2.30%
Materials-2.65%
Healthcare-6.19%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 290x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3%, which is higher than its past year's earnings growth of 14.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 40% 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
KBC KBC Group€76.384.0%
+€1.2b
11.2%PB1.2xFinancials
SOF Sofina Société Anonyme€228.006.9%
+€489.2m
5.6%PE5.5xFinancials
DEME DEME Group€133.8011.5%
+€348.7m
-6.8%PE11.7xIndustrials
017250539 BNP Paribas Fortis€33.001.9%
+€339.1m
-17.5%PB0.6xFinancials
DIE D'Ieteren Group€158.703.9%
+€318.3m
-22.7%PE22.9xConsumer Discretionary
See more
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Market Insights

Markets have been setting all kinds of records lately, some good, some less so. Major indexes have posted some of the biggest one-day point moves in history. In percentage terms...

Latest News

VGP

€71.10

VGP

7D

-6.3%

1Y

-28.8%

ARGX

€510.40

argenx

7D

-1.9%

1Y

44.8%

SYENS

€56.52

Syensqo

7D

-4.5%

1Y

-36.5%

UCB

€133.50

UCB

7D

-11.4%

1Y

10.7%

TUB

€108.20

Financière de Tubize

7D

-7.2%

1Y

15.7%

ELI

€85.60

Elia Group

7D

1.9%

1Y

-9.7%

KBC

€76.38

KBC Group

7D

4.0%

1Y

11.2%

LOTB

€8,110.00

Lotus Bakeries

7D

1.6%

1Y

-8.2%

SOF

€228.00

Sofina Société Anonyme

7D

6.9%

1Y

5.6%

017250539

€33.00

BNP Paribas Fortis

7D

1.9%

1Y

-17.5%

DIE

€158.70

D'Ieteren Group

7D

3.9%

1Y

-22.7%

UMI

€7.43

Umicore

7D

-9.3%

1Y

-65.4%

GBLB

€66.00

Groupe Bruxelles Lambert

7D

-1.9%

1Y

-5.2%

ABI

€54.46

Anheuser-Busch InBev

7D

-2.6%

1Y

-1.8%

KBCA

€54.40

KBC Ancora

7D

5.6%

1Y

20.9%