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Belgian (BEL20) Industrials Sector Analysis
UpdatedMar 26, 2026
DataAggregated Company Financials
Companies27
- 7D-0.1%
- 3M11.7%
- 1Y10.4%
- YTD10.0%
The Industrials is pretty flat in the last 7 days, but Azelis Group has stood out, gaining 10%. The past year has been better, since the industry has gained 10% in that time. Earnings are forecast to grow by 10% annually.
Sector Valuation and Performance
Has the Belgian Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 26 Mar 2026 | €25.3b | €31.6b | €1.6b | 12.1x | 15.6x | 0.8x |
| Sat, 21 Feb 2026 | €26.9b | €32.3b | €1.2b | 15.2x | 23.1x | 0.8x |
| Mon, 19 Jan 2026 | €23.7b | €32.4b | €1.2b | 12x | 19.4x | 0.7x |
| Wed, 17 Dec 2025 | €22.9b | €32.6b | €1.3b | 13.6x | 17.2x | 0.7x |
| Fri, 14 Nov 2025 | €22.8b | €32.5b | €1.3b | 14x | 17.2x | 0.7x |
| Sun, 12 Oct 2025 | €22.1b | €32.5b | €1.3b | 14.3x | 16.6x | 0.7x |
| Tue, 09 Sep 2025 | €22.7b | €32.3b | €1.3b | 15.2x | 17.6x | 0.7x |
| Thu, 07 Aug 2025 | €22.7b | €31.9b | €1.2b | 15.5x | 18.9x | 0.7x |
| Sat, 05 Jul 2025 | €21.7b | €31.8b | €1.2b | 15.2x | 17.9x | 0.7x |
| Mon, 02 Jun 2025 | €22.5b | €31.8b | €1.2b | 15.2x | 18.6x | 0.7x |
| Wed, 30 Apr 2025 | €21.1b | €31.7b | €1.3b | 14.2x | 16.8x | 0.7x |
| Fri, 28 Mar 2025 | €22.2b | €31.8b | €1.4b | 13.2x | 16.1x | 0.7x |
| Sun, 23 Feb 2025 | €22.8b | €30.8b | €1.6b | 12x | 14.4x | 0.7x |
| Tue, 21 Jan 2025 | €22.9b | €30.7b | €1.6b | 12.8x | 14.5x | 0.7x |
| Thu, 19 Dec 2024 | €22.3b | €30.7b | €1.6b | 12.7x | 14.2x | 0.7x |
| Sat, 16 Nov 2024 | €22.4b | €30.7b | €1.7b | 12.6x | 13.6x | 0.7x |
| Mon, 14 Oct 2024 | €22.7b | €30.7b | €1.6b | 13.1x | 14.1x | 0.7x |
| Wed, 11 Sep 2024 | €22.6b | €30.6b | €1.6b | 13.9x | 14x | 0.7x |
| Fri, 09 Aug 2024 | €22.4b | €29.8b | €1.5b | 13.1x | 14.5x | 0.7x |
| Sun, 07 Jul 2024 | €22.4b | €29.8b | €1.6b | 13x | 14.3x | 0.8x |
| Tue, 04 Jun 2024 | €23.4b | €30.1b | €1.6b | 13x | 14.9x | 0.8x |
| Thu, 02 May 2024 | €23.3b | €30.2b | €1.6b | 12.2x | 14.9x | 0.8x |
| Sat, 30 Mar 2024 | €21.7b | €30.4b | €1.6b | 13.3x | 13.5x | 0.7x |
| Mon, 26 Feb 2024 | €20.8b | €29.5b | €1.8b | 13.3x | 11.5x | 0.7x |
| Wed, 24 Jan 2024 | €21.9b | €32.6b | €1.9b | 11x | 11.3x | 0.7x |
| Fri, 22 Dec 2023 | €21.9b | €32.1b | €2.0b | 11.1x | 11.2x | 0.7x |
| Sun, 19 Nov 2023 | €21.0b | €32.1b | €2.0b | 11.2x | 10.8x | 0.7x |
| Tue, 17 Oct 2023 | €20.1b | €31.8b | €2.0b | 12.9x | 9.9x | 0.6x |
| Thu, 14 Sep 2023 | €20.7b | €31.9b | €2.0b | 13x | 10.2x | 0.7x |
| Sat, 12 Aug 2023 | €22.2b | €31.2b | €2.1b | 13.5x | 10.8x | 0.7x |
| Mon, 10 Jul 2023 | €22.2b | €31.1b | €2.1b | 12.9x | 10.5x | 0.7x |
| Wed, 07 Jun 2023 | €23.1b | €31.0b | €2.1b | 11.5x | 10.9x | 0.7x |
| Fri, 05 May 2023 | €21.9b | €30.9b | €2.1b | 11.5x | 10.3x | 0.7x |
| Sun, 02 Apr 2023 | €22.2b | €31.0b | €2.1b | 10.5x | 10.4x | 0.7x |
Price to Earnings Ratio
10.4x
Current Industry PE
- Investors are relatively neutral on the Belgian Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 14.4x.
- The industry is trading close to its 3-year average PS ratio of 0.72x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have declined 8.7% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Belgian Industrials sector?
| BE Market | -1.74% | |
| Industrials | -0.096% | |
| Trade Distributors | 10.35% | |
| Logistics | 3.54% | |
| Electrical | 3.05% | |
| Professional Services | 0% | 0 |
| Transportation | 0% | 0 |
| Infrastructure | 0% | 0 |
| Building | -0.85% | |
| Construction | -1.71% | |
| Machinery | -10.65% | |
| Commercial Services | -11.30% | |
Industry PE
- Investors are most optimistic about the Electrical industry which is trading above its 3-year average PE ratio of 18.6x.
- Analysts are expecting annual earnings growth of 14.5%, which is lower than the prior year's growth of 47.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Commercial Services industry, expecting annual earnings growth of 86% over the next 5 years.
- This is better than its past earnings growth rate of 0.3% per year.
- In contrast, the Construction industry is expected to see its earnings grow by 5.9% 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 | |
|---|---|---|---|---|---|
| AZE Azelis Group | €8.23 | 16.4% +€282.4m | -52.2% | PE18x | |
| CENER Cenergy Holdings | €18.36 | 4.0% +€148.6m | 95.3% | PE20.1x | |
| ENRGY EnergyVision | €11.30 | 4.6% +€30.3m | n/a | PE65.6x | |
| BPOST bpost/SA | €1.85 | 5.1% +€18.0m | 23.4% | PE7.2x | |
| MOUR Moury Construct | €720.00 | 6.5% +€17.4m | 44.0% | PE8.3x |