Narrative Update • Jul 28
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Belgian (BEL20) Healthcare Sector Analysis
UpdatedAug 02, 2026
DataAggregated Company Financials
Companies11
- 7D-8.1%
- 3M2.5%
- 1Y23.2%
- YTD-1.9%
Over the last 7 days, the Healthcare industry has dropped 8.1%, driven by pullbacks in UCB and argenx of 9.4% and 7.4%, respectively. This takes the industry's 12 month performance to a gain of 23%. Earnings are forecast to grow by 19% annually.
Sector Valuation and Performance
Has the Belgian Healthcare Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 02 Aug 2026 | €100.4b | €15.9b | €3.7b | 19.4x | 27.1x | 6.3x |
| Tue, 30 Jun 2026 | €112.0b | €14.6b | €2.9b | 32.2x | 38.9x | 7.7x |
| Thu, 28 May 2026 | €102.9b | €14.6b | €2.9b | 29.8x | 36x | 7.1x |
| Sat, 25 Apr 2026 | €98.7b | €14.1b | €2.7b | 29.2x | 37.1x | 7x |
| Mon, 23 Mar 2026 | €94.9b | €14.1b | €2.7b | 26.7x | 35.6x | 6.7x |
| Wed, 18 Feb 2026 | €111.0b | €12.7b | €2.6b | 29.8x | 42.3x | 8.8x |
| Fri, 16 Jan 2026 | €105.0b | €12.7b | €2.6b | 28.4x | 39.7x | 8.3x |
| Sun, 14 Dec 2025 | €102.8b | €12.7b | €2.6b | 26.8x | 39.1x | 8.1x |
| Tue, 11 Nov 2025 | €99.6b | €12.7b | €2.7b | 25.1x | 37.4x | 7.8x |
| Thu, 09 Oct 2025 | €103.8b | €12.2b | €2.4b | 27.7x | 42.6x | 8.5x |
| Sat, 06 Sep 2025 | €88.6b | €12.2b | €2.4b | 32.7x | 36.4x | 7.3x |
| Mon, 04 Aug 2025 | €80.1b | €12.2b | €2.4b | 34x | 33.2x | 6.6x |
| Wed, 02 Jul 2025 | €69.1b | €11.0b | €1.9b | 33.9x | 35.7x | 6.3x |
| Fri, 30 May 2025 | €69.1b | €11.0b | €2.0b | 33.4x | 35.1x | 6.3x |
| Sun, 27 Apr 2025 | €68.9b | €10.7b | €1.8b | 41.2x | 38.8x | 6.5x |
| Tue, 25 Mar 2025 | €77.3b | €10.8b | €1.9b | 41x | 40.5x | 7.2x |
| Thu, 20 Feb 2025 | €81.4b | €9.7b | €270.2m | 62.6x | 301.1x | 8.3x |
| Sat, 18 Jan 2025 | €81.8b | €9.8b | €269.6m | 59x | 303.6x | 8.4x |
| Mon, 16 Dec 2024 | €77.8b | €9.7b | €270.4m | 59.1x | 287.8x | 8x |
| Wed, 13 Nov 2024 | €76.7b | €9.7b | €271.8m | 60.2x | 282.2x | 7.9x |
| Fri, 11 Oct 2024 | €68.9b | €9.4b | €130.2m | 57.8x | 529.7x | 7.3x |
| Sun, 08 Sep 2024 | €67.6b | €9.4b | €96.3m | 50.7x | 701.9x | 7.2x |
| Tue, 06 Aug 2024 | €61.6b | €9.4b | €60.5m | 53.8x | 1018.4x | 6.6x |
| Thu, 04 Jul 2024 | €57.9b | €8.9b | €36.7m | 53.4x | 1575.4x | 6.5x |
| Sat, 01 Jun 2024 | €51.9b | €8.9b | €38.0m | 49.8x | 1366.9x | 5.8x |
| Mon, 29 Apr 2024 | €51.2b | €8.8b | €59.3m | 47.8x | 864.6x | 5.9x |
| Wed, 27 Mar 2024 | €50.1b | €8.7b | €40.6m | 45.8x | 1234x | 5.7x |
| Fri, 23 Feb 2024 | €46.5b | €9.1b | -€83,103,789.70 | 41.2x | -559.3x | 5.1x |
| Sun, 21 Jan 2024 | €40.8b | €9.1b | -€125,749,269.00 | 37.8x | -324.2x | 4.5x |
| Tue, 19 Dec 2023 | €44.3b | €9.1b | -€125,209,926.00 | 36.6x | -353.8x | 4.9x |
| Thu, 16 Nov 2023 | €45.0b | €9.1b | -€141,089,437.00 | 31.5x | -319.2x | 4.9x |
| Sat, 14 Oct 2023 | €48.5b | €9.0b | -€306,325,064.00 | 35.1x | -158.4x | 5.4x |
| Mon, 11 Sep 2023 | €49.9b | €9.0b | -€359,434,002.00 | 35x | -138.9x | 5.5x |
| Wed, 09 Aug 2023 | €47.8b | €9.0b | -€330,367,111.00 | 41.3x | -144.5x | 5.3x |
Price to Earnings Ratio
-144.5x
Current Industry PE
- Investors are pessimistic on the Belgian Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 27.1x which is lower than its 3-year average PE of 221x.
- The industry is trading close to its 3-year average PS ratio of 6.8x.
Past Earnings Growth
- Total earnings for the Healthcare industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 21% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Belgian Healthcare sector?
| BE Market | -0.072% | |
| Healthcare | -8.10% | |
| Healthtech | 3.77% | |
| Life Sciences | 0% | 0 |
| Healthcare Services | -0.22% | |
| Medical Equipment | -3.21% | |
| Biotech | -7.38% | |
| Pharma | -9.05% | |
Industry PE
- Investors are most optimistic about the Biotech industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 22.5%, which is lower than the prior year's growth of 33.9% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthtech industry, expecting annual earnings growth of 84% over the next 5 years.
- In contrast, the Pharma industry is expected to see its earnings grow by 15% 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 | |
|---|---|---|---|---|---|
| HYL Hyloris Pharmaceuticals | €4.78 | 4.8% +€6.2m | -29.3% | PS16.9x | |
| AGFB Agfa-Gevaert | €0.39 | 3.8% +€2.2m | -65.0% | PS0.06x |
