Narrative Update • Jun 02
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Belgian (BEL20) Banks Industry Analysis
UpdatedJun 13, 2026
DataAggregated Company Financials
Companies7
- 7D1.2%
- 3M2.0%
- 1Y21.6%
- YTD-1.9%
All of the companies in the Banks industry have been up over the last week, with the industry up 1.2%. This means that the industry has gained 22% over the past year. Earnings are forecast to grow by 11% annually.
Industry Valuation and Performance
Has the Belgian Banks Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 14 Jun 2026 | €75.7b | €23.7b | €6.9b | 8.3x | 11x | 3.2x |
| Tue, 12 May 2026 | €77.0b | €23.6b | €6.9b | 8.6x | 11.2x | 3.3x |
| Thu, 09 Apr 2026 | €77.5b | €23.5b | €6.9b | 10.4x | 11.3x | 3.3x |
| Sat, 07 Mar 2026 | €76.0b | €23.4b | €6.9b | 10.4x | 11x | 3.3x |
| Mon, 02 Feb 2026 | €77.4b | €23.0b | €7.0b | 10.2x | 11x | 3.4x |
| Wed, 31 Dec 2025 | €76.3b | €23.0b | €7.0b | 10.8x | 10.9x | 3.3x |
| Fri, 28 Nov 2025 | €70.6b | €23.0b | €7.0b | 10.8x | 10.1x | 3.1x |
| Sun, 26 Oct 2025 | €67.6b | €22.8b | €6.9b | 10.8x | 9.8x | 3x |
| Tue, 23 Sep 2025 | €69.8b | €22.8b | €6.9b | 10.6x | 10x | 3.1x |
| Thu, 21 Aug 2025 | €67.3b | €22.9b | €7.2b | 10.6x | 9.3x | 2.9x |
| Sat, 19 Jul 2025 | €60.7b | €22.8b | €7.2b | 10.5x | 8.5x | 2.7x |
| Mon, 16 Jun 2025 | €62.2b | €22.8b | €7.2b | 9.9x | 8.7x | 2.7x |
| Wed, 14 May 2025 | €58.8b | €22.5b | €7.1b | 10x | 8.3x | 2.6x |
| Fri, 11 Apr 2025 | €55.5b | €22.5b | €7.1b | 8.3x | 7.8x | 2.5x |
| Sun, 09 Mar 2025 | €59.7b | €23.1b | €7.2b | 8.3x | 8.3x | 2.6x |
| Tue, 04 Feb 2025 | €55.9b | €23.0b | €6.8b | 8.3x | 8.2x | 2.4x |
| Thu, 02 Jan 2025 | €53.6b | €23.0b | €6.8b | 8.3x | 7.9x | 2.3x |
| Sat, 30 Nov 2024 | €49.8b | €23.0b | €6.8b | 8.1x | 7.4x | 2.2x |
| Mon, 28 Oct 2024 | €50.4b | €22.9b | €6.8b | 8.1x | 7.4x | 2.2x |
| Wed, 25 Sep 2024 | €52.1b | €22.9b | €6.7b | 8.3x | 7.8x | 2.3x |
| Fri, 23 Aug 2024 | €54.3b | €23.1b | €6.9b | 7.6x | 7.9x | 2.4x |
| Sun, 21 Jul 2024 | €53.7b | €23.1b | €6.9b | 8.5x | 7.7x | 2.3x |
| Tue, 18 Jun 2024 | €53.0b | €23.1b | €6.9b | 8.5x | 7.6x | 2.3x |
| Thu, 16 May 2024 | €54.9b | €23.5b | €7.3b | 8.5x | 7.5x | 2.3x |
| Sat, 13 Apr 2024 | €56.5b | €23.6b | €7.3b | 8.3x | 7.7x | 2.4x |
| Mon, 11 Mar 2024 | €54.9b | €22.8b | €7.1b | 8.2x | 7.7x | 2.4x |
| Wed, 07 Feb 2024 | €55.8b | €21.0b | €7.1b | 8.4x | 7.8x | 2.7x |
| Fri, 05 Jan 2024 | €55.0b | €21.0b | €7.1b | 7.7x | 7.7x | 2.6x |
| Sun, 03 Dec 2023 | €51.1b | €21.0b | €7.1b | 7.6x | 7.2x | 2.4x |
| Tue, 31 Oct 2023 | €48.2b | €19.0b | €6.6b | 8.4x | 7.3x | 2.5x |
| Thu, 28 Sep 2023 | €51.1b | €19.0b | €6.6b | 8.3x | 7.7x | 2.7x |
| Sat, 26 Aug 2023 | €51.1b | €18.5b | €7.0b | 7.5x | 7.3x | 2.8x |
| Mon, 24 Jul 2023 | €53.9b | €18.3b | €7.0b | 7.2x | 7.7x | 3x |
| Wed, 21 Jun 2023 | €52.3b | €18.3b | €7.0b | 7.2x | 7.5x | 2.9x |
Price to Earnings Ratio
7.5x
Current Industry PE
- Investors are optimistic on the Belgian Banks industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 11.0x which is higher than its 3-year average PE of 8.6x.
- The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Banks industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 9.2% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Belgian Financials industry?
| BE Market | 3.03% | |
| Financials | 1.47% | |
| Banks | 1.24% | |
| Diversified Banks | 1.24% | |
| Regional Banks | 0% | 0 |
Industry PE
- Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 8.6x.
- Analysts are expecting annual earnings growth of 10.6%, which is higher than its past year's earnings decline of 5.0% per year.
- Investors are most pessimistic about the Regional Banks industry, which is trading below its 3-year average of 9.0x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 11% over the next 5 years.
- This is better than its past earnings decline of 5.0% per year.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 11% 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 | €114.60 | 1.7% +€753.7m | 36.1% | PB1.6x | |
| KBCA KBC Ancora | €79.10 | 2.9% +€169.4m | 39.3% | PB1.7x |