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Belgian (BEL20) Banks Industry Analysis
UpdatedApr 07, 2026
DataAggregated Company Financials
Companies7
- 7D2.8%
- 3M-4.1%
- 1Y40.2%
- YTD-2.9%
The Banks industry is up 3.1% in the last week, with KBC Group up 4.9%. In the last 12 months, the industry was up 39%. Earnings are forecast to grow by 9.3% 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 |
|---|---|---|---|---|---|---|
| Tue, 07 Apr 2026 | €74.9b | €23.8b | €6.8b | 10.4x | 10.9x | 3.1x |
| Thu, 05 Mar 2026 | €76.6b | €23.4b | €6.9b | 10.4x | 11.1x | 3.3x |
| Sat, 31 Jan 2026 | €77.4b | €23.0b | €7.0b | 10.2x | 11x | 3.4x |
| Mon, 29 Dec 2025 | €76.0b | €23.0b | €7.0b | 10.8x | 10.8x | 3.3x |
| Wed, 26 Nov 2025 | €69.9b | €23.0b | €7.0b | 10.8x | 10x | 3x |
| Fri, 24 Oct 2025 | €67.7b | €22.8b | €6.9b | 10.8x | 9.8x | 3x |
| Sun, 21 Sep 2025 | €70.2b | €22.8b | €6.9b | 10.6x | 10.1x | 3.1x |
| Tue, 19 Aug 2025 | €67.1b | €22.9b | €7.2b | 10.6x | 9.3x | 2.9x |
| Thu, 17 Jul 2025 | €59.8b | €22.8b | €7.2b | 10.2x | 8.4x | 2.6x |
| Sat, 14 Jun 2025 | €62.2b | €22.8b | €7.2b | 9.9x | 8.7x | 2.7x |
| Mon, 12 May 2025 | €57.8b | €22.5b | €7.1b | 9.8x | 8.1x | 2.6x |
| Wed, 09 Apr 2025 | €55.1b | €22.5b | €7.1b | 8.3x | 7.7x | 2.4x |
| Fri, 07 Mar 2025 | €59.7b | €23.1b | €7.2b | 8.3x | 8.3x | 2.6x |
| Sun, 02 Feb 2025 | €55.9b | €23.0b | €6.8b | 8.3x | 8.2x | 2.4x |
| Tue, 31 Dec 2024 | €53.5b | €23.0b | €6.8b | 8.3x | 7.9x | 2.3x |
| Thu, 28 Nov 2024 | €49.5b | €23.0b | €6.8b | 8.1x | 7.3x | 2.2x |
| Sat, 26 Oct 2024 | €50.4b | €22.9b | €6.8b | 8.1x | 7.4x | 2.2x |
| Mon, 23 Sep 2024 | €52.5b | €22.9b | €6.7b | 8.3x | 7.8x | 2.3x |
| Wed, 21 Aug 2024 | €54.0b | €23.1b | €6.9b | 7.6x | 7.8x | 2.3x |
| Fri, 19 Jul 2024 | €53.7b | €23.1b | €6.9b | 8.5x | 7.7x | 2.3x |
| Sun, 16 Jun 2024 | €52.4b | €23.1b | €6.9b | 8.5x | 7.6x | 2.3x |
| Tue, 14 May 2024 | €56.6b | €23.5b | €7.3b | 8.3x | 7.7x | 2.4x |
| Thu, 11 Apr 2024 | €56.6b | €23.6b | €7.3b | 8.3x | 7.7x | 2.4x |
| Sat, 09 Mar 2024 | €55.0b | €22.8b | €7.1b | 8.3x | 7.7x | 2.4x |
| Mon, 05 Feb 2024 | €54.1b | €21.0b | €7.1b | 7.7x | 7.6x | 2.6x |
| Wed, 03 Jan 2024 | €54.6b | €21.0b | €7.1b | 7.7x | 7.7x | 2.6x |
| Fri, 01 Dec 2023 | €50.7b | €21.0b | €7.1b | 7.6x | 7.1x | 2.4x |
| Sun, 29 Oct 2023 | €48.1b | €19.0b | €6.6b | 8.4x | 7.3x | 2.5x |
| Tue, 26 Sep 2023 | €51.4b | €19.0b | €7.0b | 7.7x | 7.4x | 2.7x |
| Thu, 24 Aug 2023 | €51.2b | €18.5b | €7.0b | 7.2x | 7.3x | 2.8x |
| Sat, 22 Jul 2023 | €53.9b | €18.3b | €7.0b | 7.2x | 7.7x | 3x |
| Mon, 19 Jun 2023 | €53.3b | €18.3b | €7.0b | 7.5x | 7.7x | 2.9x |
| Wed, 17 May 2023 | €27.1b | €9.4b | €3.8b | 6.3x | 7.1x | 2.9x |
| Fri, 14 Apr 2023 | €55.3b | €17.7b | €6.5b | 7.9x | 8.5x | 3.1x |
Price to Earnings Ratio
8.5x
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 10.9x which is higher than its 3-year average PE of 8.4x.
- The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 3.1x.
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 10% 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 | 3.30% | |
| Financials | 2.91% | |
| Banks | 2.78% | |
| Diversified Banks | 2.79% | |
| 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 8.4x.
- Analysts are expecting annual earnings growth of 9.3%, which is higher than its past year's earnings decline of 13.1% per year.
- Investors are most pessimistic about the Regional Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 8.8x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 9.3% over the next 5 years.
- This is better than its past earnings decline of 13% per year.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 9.3% 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 | €108.70 | 4.0% +€1.7b | 45.4% | PB1.5x | |
| KBCA KBC Ancora | €72.50 | 3.4% +€184.8m | 34.0% | PB1.5x |