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Belgian (BEL20) Financials Sector Analysis
UpdatedApr 08, 2026
DataAggregated Company Financials
Companies29
- 7D2.7%
- 3M-2.6%
- 1Y28.2%
- YTD-1.9%
In the last week, the Financials industry is up 2.7%, with KBC Group up 4.0%. This means that the industry has gained 28% over the past year. Looking forward, earnings are forecast to grow by 11% 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, 09 Apr 2026 | €110.5b | €40.2b | €8.7b | 13.4x | 12.7x | 2.7x |
| Sat, 07 Mar 2026 | €111.3b | €40.0b | €8.9b | 12.6x | 12.5x | 2.8x |
| Mon, 02 Feb 2026 | €112.5b | €39.6b | €9.0b | 12.6x | 12.5x | 2.8x |
| Wed, 31 Dec 2025 | €111.0b | €39.6b | €9.0b | 12.2x | 12.3x | 2.8x |
| Fri, 28 Nov 2025 | €104.8b | €39.6b | €9.0b | 11.8x | 11.6x | 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 |
Price to Earnings Ratio
10.6x
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 12.7x which is higher than its 3-year average PE of 9.8x.
- The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 5.9% per year over the last three years.
- Revenues for these companies have grown 2.6% 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 | 2.45% | |
| Financials | 2.66% | |
| Diversified Financial | 3.07% | |
| Insurance | 2.77% | |
| Banks | 2.68% | |
| Capital Markets | 0.80% | |
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 38.7% 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 8.6x.
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 39% per year.
- In contrast, the Insurance industry is expected to see its earnings grow by 6.1% 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 | €114.30 | 4.1% +€1.8b | 56.5% | PB1.6x | |
| GBLB Groupe Bruxelles Lambert | €81.50 | 3.8% +€355.4m | 30.8% | PE70.2x | |
| AGS ageas | €66.15 | 2.8% +€342.0m | 32.7% | PE10.9x | |
| SOF Sofina Société Anonyme | €223.20 | 3.9% +€297.9m | 2.7% | PE70x | |
| KBCA KBC Ancora | €76.00 | 4.1% +€231.0m | 44.5% | PB1.6x |