Belgian (BEL20) Real Estate Operating Companies Industry Analysis

Industry Valuation and Performance

Has the Belgian Real Estate Operating Companies Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 31 Dec 2024	€2.5b	€465.5m	€185.0m	10.6x	13.3x	5.3x
Thu, 28 Nov 2024	€2.7b	€416.0m	€76.2m	17.3x	35.2x	6.5x
Sat, 26 Oct 2024	€2.8b	€464.6m	€183.1m	11.3x	15.2x	6x
Mon, 23 Sep 2024	€3.1b	€464.0m	€181.8m	12.9x	17.1x	6.7x
Wed, 21 Aug 2024	€3.3b	€299.5m	€20.7m	13.6x	160.1x	11.1x
Fri, 19 Jul 2024	€3.5b	€299.5m	€20.7m	14.3x	169.3x	11.7x
Sun, 16 Jun 2024	€3.4b	€299.5m	€20.7m	14.1x	162.7x	11.2x
Tue, 14 May 2024	€3.6b	€299.9m	€20.7m	14.1x	172.1x	11.9x
Thu, 11 Apr 2024	€3.3b	€299.9m	€17.1m	13.2x	195.8x	11.2x
Sat, 09 Mar 2024	€3.5b	€316.8m	€17.1m	12.2x	202.3x	10.9x
Mon, 05 Feb 2024	€3.6b	€230.7m	-€284,288,144.00	16.1x	-12.6x	15.5x
Wed, 03 Jan 2024	€3.3b	€230.6m	-€284,254,144.00	16.4x	-11.5x	14.2x
Fri, 01 Dec 2023	€6.5b	€578.7m	€240.4m	11.6x	27.1x	11.3x
Sun, 29 Oct 2023	€5.6b	€578.7m	€240.4m	11x	23.2x	9.6x
Tue, 26 Sep 2023	€6.2b	€578.7m	€240.3m	11.7x	26x	10.8x
Thu, 24 Aug 2023	€6.6b	€600.4m	€368.2m	14.4x	17.9x	11x
Sat, 22 Jul 2023	€6.8b	€568.6m	€480.5m	14.6x	14.1x	11.9x
Mon, 19 Jun 2023	€7.1b	€568.6m	€480.7m	16.2x	14.7x	12.4x
Wed, 17 May 2023	€7.3b	€568.6m	€480.7m	16.2x	15.1x	12.8x
Fri, 14 Apr 2023	€7.3b	€575.8m	€491.7m	11.6x	14.9x	12.7x
Sun, 12 Mar 2023	€6.8b	€594.7m	€490.3m	12.5x	13.8x	11.4x
Tue, 07 Feb 2023	€7.4b	€585.5m	€1.4b	5x	5.4x	12.6x
Thu, 05 Jan 2023	€7.1b	€585.5m	€1.4b	5x	5.2x	12.1x
Sat, 03 Dec 2022	€6.7b	€585.5m	€1.4b	5x	4.9x	11.5x
Mon, 31 Oct 2022	€6.4b	€585.5m	€1.4b	5.1x	4.7x	10.9x
Wed, 28 Sep 2022	€6.3b	€585.5m	€1.4b	5.2x	4.6x	10.8x
Fri, 26 Aug 2022	€8.8b	€685.9m	€1.4b	7.3x	6.2x	12.9x
Sun, 24 Jul 2022	€8.8b	€668.5m	€1.2b	8.6x	7.3x	13.2x
Tue, 21 Jun 2022	€8.7b	€668.5m	€1.2b	8.2x	7.2x	13x
Thu, 19 May 2022	€9.1b	€668.5m	€1.2b	8x	7.5x	13.6x
Sat, 16 Apr 2022	€11.4b	€854.6m	€1.2b	9.6x	9.5x	13.4x
Mon, 14 Mar 2022	€10.3b	€889.8m	€1.2b	9.5x	8.6x	11.6x
Wed, 09 Feb 2022	€10.2b	€603.3m	€730.7m	14x	13.9x	16.8x
Fri, 07 Jan 2022	€11.3b	€603.3m	€730.7m	15.5x	15.4x	18.7x

Current Industry PE

Investors are pessimistic on the Belgian Real Estate Operating Companies 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 13.3x which is lower than its 3-year average PE of 36.8x.

The 3-year average PS ratio of 11.9x is higher than the industry's current PS ratio of 5.3x.

Past Earnings Growth

The earnings for companies in the Real Estate Operating Companies industry have declined 37% per year over the last three years,
Revenues have also declined 8.3% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Belgian Real Estate Operating Companies compare with similar industries?


BE Market	1.13%
Real Estate	1.38%
Real Estate	2.02%
Real Estate Operating Companies	1.99%
Real Estate Services	8.90%
Real Estate Development	2.65%
Diversified Real Estate	0%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Company	Last Price	7D	1Y	Valuation
VGP VGP	€70.10	0.7% +€13.6m	-33.2%	PE9.9x
INCLU Inclusio	€13.30	3.5% +€3.3m	1.5%	PE3x
ATEB Atenor	€3.40	0.9% +€1.3m	-54.4%	PS0.7x
ACCB Accentis	€0.031	3.3% +€1.3m	9.9%	PE19.4x

Company

Last Price

Valuation

VGP VGP

€70.10

0.7%
+€13.6m

-33.2%

PE9.9x

INCLU Inclusio

€13.30

3.5%
+€3.3m

1.5%