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Belgian (BEL20) Financials Sector Analysis
UpdatedAug 14, 2025
DataAggregated Company Financials
Companies29
- 7D2.7%
- 3M10.3%
- 1Y25.1%
- YTD22.9%
The Financials industry is up 5.0% in the last week, with KBC Group up 9.8%. In the same time, BNP Paribas Fortis was down 10.0%. This takes the industry's 12 month performance to a gain of 28%. Looking forward, earnings are forecast to grow by 10% annually.
Sector Valuation and Performance
Has the Belgian Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 14 Aug 2025 | €103.2b | €40.4b | €10.2b | 10.6x | 10.1x | 2.6x |
| Sat, 12 Jul 2025 | €96.8b | €40.4b | €10.3b | 10.6x | 9.4x | 2.4x |
| Mon, 09 Jun 2025 | €94.1b | €40.6b | €10.3b | 9.8x | 9.2x | 2.3x |
| Wed, 07 May 2025 | €90.5b | €40.3b | €10.2b | 9.5x | 8.9x | 2.2x |
| Fri, 04 Apr 2025 | €89.1b | €40.4b | €10.4b | 8.6x | 8.6x | 2.2x |
| Sun, 02 Mar 2025 | €89.8b | €39.5b | €9.2b | 10.1x | 9.7x | 2.3x |
| Tue, 28 Jan 2025 | €86.7b | €39.3b | €8.8b | 10.3x | 9.9x | 2.2x |
| Thu, 26 Dec 2024 | €82.4b | €39.3b | €8.8b | 10.3x | 9.4x | 2.1x |
| Sat, 23 Nov 2024 | €79.8b | €39.4b | €8.8b | 9.7x | 9.1x | 2x |
| Mon, 21 Oct 2024 | €82.3b | €39.5b | €9.1b | 9.6x | 9x | 2.1x |
| Wed, 18 Sep 2024 | €84.4b | €39.5b | €9.0b | 10.8x | 9.3x | 2.1x |
| Fri, 16 Aug 2024 | €76.7b | €38.5b | €8.6b | 9.6x | 8.9x | 2x |
| Sun, 14 Jul 2024 | €76.9b | €38.6b | €8.8b | 9.3x | 8.7x | 2x |
| Tue, 11 Jun 2024 | €76.0b | €38.6b | €8.8b | 9x | 8.7x | 2x |
| Thu, 09 May 2024 | €80.3b | €39.1b | €9.1b | 8.7x | 8.8x | 2.1x |
| Sat, 06 Apr 2024 | €82.5b | €43.6b | €8.8b | 9.8x | 9.3x | 1.9x |
| Mon, 04 Mar 2024 | €80.3b | €45.4b | €8.4b | 8.6x | 9.6x | 1.8x |
| Wed, 31 Jan 2024 | €76.7b | €43.5b | €8.4b | 8.6x | 9.2x | 1.8x |
| Fri, 29 Dec 2023 | €75.4b | €43.5b | €8.4b | 8.6x | 9x | 1.7x |
| Sun, 26 Nov 2023 | €73.4b | €43.5b | €8.4b | 9.2x | 8.8x | 1.7x |
| Tue, 24 Oct 2023 | €67.9b | €41.2b | €7.5b | 9.2x | 9x | 1.6x |
| Thu, 21 Sep 2023 | €73.4b | €41.0b | €7.9b | 9.9x | 9.3x | 1.8x |
| Sat, 19 Aug 2023 | €69.7b | €37.8b | €8.0b | 7.2x | 8.7x | 1.8x |
| Mon, 17 Jul 2023 | €71.6b | €36.8b | €7.5b | 7.2x | 9.5x | 1.9x |
| Wed, 14 Jun 2023 | €71.1b | €36.9b | €7.5b | 7.9x | 9.5x | 1.9x |
| Fri, 12 May 2023 | €73.6b | €36.5b | €7.0b | 8.6x | 10.5x | 2x |
| Sun, 09 Apr 2023 | €83.0b | €37.2b | €5.4b | 7.9x | 15.2x | 2.2x |
| Tue, 07 Mar 2023 | €80.8b | €37.4b | €7.8b | 8x | 10.3x | 2.2x |
| Thu, 02 Feb 2023 | €76.8b | €37.0b | €7.7b | 8.1x | 10x | 2.1x |
| Sat, 31 Dec 2022 | €70.0b | €37.0b | €7.8b | 7.9x | 9x | 1.9x |
| Mon, 28 Nov 2022 | €66.6b | €37.0b | €7.8b | 8x | 8.5x | 1.8x |
| Wed, 26 Oct 2022 | €64.4b | €37.1b | €8.0b | 7.5x | 8x | 1.7x |
| Fri, 23 Sep 2022 | €65.7b | €37.9b | €8.0b | 7.8x | 8.2x | 1.7x |
| Sun, 21 Aug 2022 | €72.1b | €39.6b | €10.7b | 8x | 6.7x | 1.8x |
Price to Earnings Ratio
6.7x
Current Industry PE
- Investors are optimistic on the Belgian Financials industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 10.2x which is higher than its 3-year average PE of 9.1x.
- The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
- Both revenue and earnings for companies in the Financials industry have remained mostly flat over the last three years.
- This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Industry Trends
Which industries have driven the changes within the Belgian Financials sector?
| BE Market | 1.12% | |
| Financials | 2.74% | |
| Banks | 3.29% | |
| Diversified Financial | 2.01% | |
| Capital Markets | 1.49% | |
| Insurance | 1.39% | |
Industry PE
- Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 50.7%, which is lower than the prior year's growth of 262.5% per year.
- Investors are most pessimistic about the Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.5x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 51% over the next 5 years.
- However this is lower than its past earnings growth rate of 263% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 3.0% 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 | |
|---|---|---|---|---|---|
| KBC KBC Group | €102.65 | 10.3% +€3.8b | 51.7% | PB1.6x | |
| KBCA KBC Ancora | €69.80 | 7.2% +€362.0m | 57.4% | PB1.5x | |
| SOF Sofina Société Anonyme | €277.40 | 2.1% +€185.1m | 30.2% | PE6.7x | |
| GBLB Groupe Bruxelles Lambert | €74.90 | 2.1% +€181.5m | 12.6% | PS1.4x | |
| AGS ageas | €61.70 | 1.4% +€162.9m | 44.0% | PE10.6x |
