Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Belgian (BEL20) Materials Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies16
  • 7D-0.9%
  • 3M24.2%
  • 1Y26.7%
  • YTD8.1%

The Materials is pretty flat in the last 7 days, but Viohalco has stood out, gaining 10%. The past year has been better, since the industry has gained 30% in that time. Looking forward, earnings are forecast to grow by 31% annually.

Sector Valuation and Performance

Has the Belgian Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026€27.2b€46.7b€861.4m13.6x31.6x0.6x
Fri, 22 May 2026€27.2b€46.6b€842.8m15.5x32.3x0.6x
Sun, 19 Apr 2026€23.6b€46.8b€862.8m14.4x27.3x0.5x
Tue, 17 Mar 2026€21.9b€46.7b€825.2m20.6x26.5x0.5x
Thu, 12 Feb 2026€27.0b€43.8b€788.5m18.7x34.3x0.6x
Sat, 10 Jan 2026€25.6b€43.8b€788.5m18.3x32.5x0.6x
Mon, 08 Dec 2025€23.9b€43.8b€788.5m17.1x30.2x0.5x
Wed, 05 Nov 2025€23.3b€44.3b€776.6m16.9x30x0.5x
Fri, 03 Oct 2025€23.1b€44.0b€734.8m17.7x31.5x0.5x
Sun, 31 Aug 2025€23.2b€43.8b€714.7m19.1x32.5x0.5x
Tue, 29 Jul 2025€23.0b€42.7b-€675,530,335.0015.6x-34x0.5x
Thu, 26 Jun 2025€21.5b€42.7b-€675,530,335.0015.6x-31.8x0.5x
Sat, 24 May 2025€20.4b€42.6b-€702,884,333.0013.6x-29x0.5x
Mon, 21 Apr 2025€19.7b€42.7b-€573,781,627.0014x-34.4x0.5x
Wed, 19 Mar 2025€22.7b€42.3b-€541,191,627.0016.3x-41.9x0.5x
Fri, 14 Feb 2025€23.9b€43.3b-€702,975,627.0014.6x-33.9x0.6x
Sun, 12 Jan 2025€21.8b€43.3b-€702,975,627.0013.2x-31.1x0.5x
Tue, 10 Dec 2024€23.0b€43.3b-€706,865,317.0015.1x-32.6x0.5x
Thu, 07 Nov 2024€15.7b€36.9b-€271,695,317.0014.5x-57.7x0.4x
Sat, 05 Oct 2024€16.5b€36.5b-€549,052,317.0017x-30.1x0.5x
Mon, 02 Sep 2024€23.8b€43.3b-€566,200,317.0016.9x-42.1x0.6x
Wed, 31 Jul 2024€25.7b€43.8b-€495,702,317.0019.1x-51.8x0.6x
Fri, 28 Jun 2024€26.5b€46.7b€1.2b18.5x22.1x0.6x
Sun, 26 May 2024€29.3b€47.4b€1.2b17.4x23.5x0.6x
Tue, 23 Apr 2024€28.4b€47.8b€1.5b17.4x18.9x0.6x
Thu, 21 Mar 2024€27.7b€47.7b€1.5b13.1x18.1x0.6x
Sat, 17 Feb 2024€27.7b€62.4b€3.3b11.4x8.3x0.4x
Mon, 15 Jan 2024€29.0b€62.4b€3.3b11.8x8.7x0.5x
Wed, 13 Dec 2023€19.3b€55.0b€2.6b11.8x7.5x0.4x
Fri, 10 Nov 2023€26.6b€55.1b€2.5b11.6x10.5x0.5x
Sun, 08 Oct 2023€26.4b€56.4b€2.8b11.8x9.6x0.5x
Tue, 05 Sep 2023€28.5b€56.7b€2.9b12x9.9x0.5x
Thu, 03 Aug 2023€30.0b€57.1b€3.7b11.9x8.2x0.5x
Sat, 01 Jul 2023€28.5b€60.2b€3.8b8.4x7.4x0.5x
Price to Earnings Ratio

7.4x


Total Market Cap: €28.5bTotal Earnings: €3.8bTotal Revenue: €60.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Belgian Materials Sector Price to Earnings3Y Average 2.1x202420252026
Current Industry PE
  • Investors are optimistic on the Belgian Materials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.2x which is higher than its 3-year average PE of 2.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.52x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 39% per year over the last three years,
  • Revenues have also declined 8.1% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Belgian Materials sector?

BE Market1.22%
Materials-0.88%
Metals and Mining4.81%
Basic Materials0%0
Packaging0%0
Chemicals-3.63%
Industry PE
  • Investors are most optimistic about the Chemicals industry which is trading above its 3-year average PE ratio of 16.4x.
    • Analysts are expecting annual earnings growth of 31.5%, which is higher than its past year's earnings growth of 19.7% per year.
  • Investors are most pessimistic about the Metals and Mining industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 12.4x.
Forecasted Growth
  • Analysts are most optimistic on the Chemicals industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Metals and Mining industry is expected to see its earnings grow by 30% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VIO Viohalco€21.2510.3%
+€515.8m		286.4%PE21.6x

Latest News

TESB
€19.88
Tessenderlo Group
7D
-2.1%
1Y
-21.6%
Narrative Update • Jun 23

TESB: Dividend And 2026 Shareholder Meeting Will Support Future Upside Potential

Analysts have kept their fair value estimate for Tessenderlo Group steady at €25.5, with only minor model adjustments to the discount rate, revenue growth, profit margin, and future P/E underpinning the latest price target update. What's in the News Tessenderlo Group NV announced an annual dividend of €0.1479 per share, with payment scheduled for June 5, 2026, an ex-dividend date on June 3, 2026, and a record date on June 4, 2026.
UMI
€22.52
Umicore
7D
-6.2%
1Y
83.2%
Narrative Update • Jun 23

UMI: Recycling Upside And Leadership Change Will Shape Balanced Forward Expectations

The analyst fair value estimate for Umicore has edged up from €23.52 to €24.51. This change reflects a mix of higher price targets from some firms and more cautious holds from others, as analysts weigh updated views on recycling prospects and near-term metal price risks.
VIO
€21.25
Viohalco
7D
10.3%
1Y
286.4%
SOLB
€27.10
Solvay
7D
-0.7%
1Y
-7.9%
Analysis Article • Jun 17

Solvay (ENXTBR:SOLB) Stock Could Be 8.8% Overvalued After European Patent Win

The European Patent Office has upheld Solvay (ENXTBR:SOLB)’s key European patent covering its soda ash purge stream recycling process after a challenge from WE Soda Ltd, putting the company’s intellectual property position firmly in focus for investors. See our latest analysis for Solvay. Solvay’s recent patent win comes at a time when the stock’s 7-day share price return of 5.98% and 30-day share price return of 4.12% sit against a 1-year total shareholder return that is down 3.84%, while...
BEKB
€40.80
NV Bekaert
7D
-3.9%
1Y
19.5%
Narrative Update • Jun 08

BEKB: Dividend And CEO Change Will Not Prevent Future Downside

Analysts have maintained the NV Bekaert price target at €34.50, noting that minor changes to the discount rate, revenue growth assumptions, profit margin and future P/E inputs were viewed as offsetting each other in their updated model. What's in the News The annual general meeting on 13 May 2026 approved a gross dividend of €1.95 per share.
SYENS
€65.30
Syensqo
7D
-3.9%
1Y
-2.0%
Narrative Update • Jun 07

SYENS: Mixed Rating Shifts Will Guide Fairly Priced Multiple Reset

Analysts have modestly lifted the Syensqo price target to €67.97 from €67.26, reflecting updated fair value and P/E assumptions after recent changes to Street targets that range from €54 to €67 and include both downgrades and target increases. Analyst Commentary Recent research on Syensqo reflects a divided view, with some analysts becoming more positive on upside potential while others point to the recent share price rally and trimmed targets as reasons for caution.
CAMB
€224.00
Campine
7D
-1.8%
1Y
-2.6%
NYR
€0.064
Nyrstar
7D
-1.5%
1Y
-7.5%
BTLS
€3.16
Biotalys
7D
-0.5%
1Y
-31.9%
New Narrative • May 25

Regulatory Delays And Cost Uncertainty Will Test Biological Crop Protection Potential

Catalysts About Biotalys Biotalys develops protein based biocontrol products for crop protection, focused on biofungicides and bioinsecticides. What are the underlying business or industry changes driving this perspective?