Have your own idea? Try our Stock Screener
Belgian (BEL20) Financials Sector Analysis
UpdatedNov 24, 2025
DataAggregated Company Financials
Companies29
- 7D1.4%
- 3M3.6%
- 1Y31.5%
- YTD25.0%
The Financials industry is up 1.8% in the last week, with KBC Group up 1.7%. This takes the industry's 12 month performance to a gain of 32%. Earnings are forecast to grow by 8.4% 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 |
|---|---|---|---|---|---|---|
| Fri, 28 Nov 2025 | €103.6b | €39.6b | €9.0b | 11.7x | 11.5x | 2.6x |
| Sun, 26 Oct 2025 | €102.2b | €39.3b | €8.7b | 11.6x | 11.8x | 2.6x |
| Tue, 23 Sep 2025 | €104.4b | €39.1b | €8.7b | 11.5x | 12x | 2.7x |
| Thu, 21 Aug 2025 | €103.5b | €40.4b | €10.2b | 10.7x | 10.1x | 2.6x |
| Sat, 19 Jul 2025 | €95.9b | €40.4b | €10.3b | 10.5x | 9.3x | 2.4x |
| Mon, 16 Jun 2025 | €95.9b | €40.6b | €10.3b | 9.7x | 9.3x | 2.4x |
| Wed, 14 May 2025 | €92.5b | €40.3b | €10.2b | 9.5x | 9.1x | 2.3x |
| Fri, 11 Apr 2025 | €86.0b | €40.0b | €10.3b | 8.5x | 8.4x | 2.1x |
| Sun, 09 Mar 2025 | €91.5b | €39.5b | €9.2b | 10.3x | 9.9x | 2.3x |
| Tue, 04 Feb 2025 | €87.1b | €39.3b | €8.8b | 10.3x | 9.9x | 2.2x |
| Thu, 02 Jan 2025 | €83.2b | €39.3b | €8.8b | 10.4x | 9.5x | 2.1x |
| Sat, 30 Nov 2024 | €79.4b | €39.3b | €8.8b | 9.6x | 9x | 2x |
| Mon, 28 Oct 2024 | €81.0b | €39.5b | €9.1b | 9.5x | 8.9x | 2.1x |
| Wed, 25 Sep 2024 | €83.8b | €39.5b | €9.0b | 10.7x | 9.3x | 2.1x |
| Fri, 23 Aug 2024 | €76.6b | €38.5b | €8.6b | 9.5x | 8.9x | 2x |
| Sun, 21 Jul 2024 | €75.9b | €38.6b | €8.8b | 9.2x | 8.6x | 2x |
| Tue, 18 Jun 2024 | €75.0b | €38.6b | €8.8b | 8.9x | 8.5x | 1.9x |
| Thu, 16 May 2024 | €78.2b | €39.0b | €9.1b | 8.8x | 8.6x | 2x |
| Sat, 13 Apr 2024 | €78.9b | €43.9b | €9.0b | 9.8x | 8.7x | 1.8x |
| Mon, 11 Mar 2024 | €76.4b | €45.4b | €8.4b | 8.4x | 9.1x | 1.7x |
| Wed, 07 Feb 2024 | €77.4b | €43.5b | €8.4b | 8.6x | 9.3x | 1.8x |
| Fri, 05 Jan 2024 | €76.9b | €43.5b | €8.4b | 8.6x | 9.2x | 1.8x |
| Sun, 03 Dec 2023 | €73.1b | €43.5b | €8.4b | 9.2x | 8.7x | 1.7x |
| Tue, 31 Oct 2023 | €67.6b | €41.2b | €7.5b | 9.2x | 9x | 1.6x |
| Thu, 28 Sep 2023 | €71.7b | €41.2b | €7.5b | 9.8x | 9.5x | 1.7x |
| Sat, 26 Aug 2023 | €68.8b | €37.8b | €8.0b | 7.5x | 8.6x | 1.8x |
| Mon, 24 Jul 2023 | €72.0b | €36.8b | €7.5b | 7.2x | 9.6x | 2x |
| Wed, 21 Jun 2023 | €70.1b | €36.9b | €7.5b | 7.8x | 9.3x | 1.9x |
| Fri, 19 May 2023 | €47.5b | €28.3b | €4.4b | 7.5x | 10.9x | 1.7x |
| Sun, 16 Apr 2023 | €77.4b | €37.1b | €7.3b | 7.9x | 10.6x | 2.1x |
| Tue, 14 Mar 2023 | €74.8b | €29.3b | €7.7b | 7.7x | 9.7x | 2.6x |
| Thu, 09 Feb 2023 | €77.7b | €37.0b | €7.7b | 8.2x | 10.1x | 2.1x |
| Sat, 07 Jan 2023 | €71.6b | €37.0b | €7.8b | 8x | 9.2x | 1.9x |
| Mon, 05 Dec 2022 | €67.9b | €37.0b | €7.8b | 8x | 8.7x | 1.8x |
Price to Earnings Ratio
8.7x
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 11.5x which is higher than its 3-year average PE of 9.5x.
- The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 4.8% per year over the last three years.
- Revenues for these companies have grown 2.3% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Belgian Financials sector?
| BE Market | 1.42% | |
| Financials | 1.37% | |
| Capital Markets | 2.18% | |
| Diversified Financial | 1.97% | |
| Insurance | 1.63% | |
| Banks | 1.12% | |
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 25.7%, which is lower than the prior year's growth of 82.4% per year.
- Investors are most pessimistic about the Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.4x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 26% over the next 5 years.
- However this is lower than its past earnings growth rate of 82% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 5.4% 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 | €106.80 | 1.7% +€713.8m | 56.6% | PB1.6x | |
| AGS ageas | €59.10 | 1.6% +€181.2m | 23.2% | PE9.8x | |
| SOF Sofina Société Anonyme | €244.40 | 2.3% +€178.7m | 12.2% | PE19.5x | |
| GBLB Groupe Bruxelles Lambert | €73.95 | 1.8% +€157.8m | 12.9% | PE64.2x | |
| BREB Brederode | €106.80 | 3.7% +€111.4m | 2.5% | PE62.5x |