Narrative Update • Jun 24
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Belgian (BEL20) Tech Sector Analysis
UpdatedJul 06, 2026
DataAggregated Company Financials
Companies7
- 7D1.8%
- 3M21.1%
- 1Y-5.6%
- YTD7.8%
The Tech industry is up 1.8% in the last week, with Melexis up 2.8%. In the past year, the industry is down 5.5%. As for the next few years, earnings are expected to grow by 15% per annum.
Sector Valuation and Performance
Has the Belgian Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 06 Jul 2026 | €4.8b | €5.1b | €247.5m | 13.6x | 19.2x | 0.9x |
| Wed, 03 Jun 2026 | €5.2b | €5.1b | €247.3m | 15.9x | 20.9x | 1x |
| Fri, 01 May 2026 | €4.7b | €5.1b | €250.0m | 13.8x | 18.7x | 0.9x |
| Sun, 29 Mar 2026 | €3.8b | €5.1b | €250.7m | 11.6x | 15.3x | 0.8x |
| Tue, 24 Feb 2026 | €4.3b | €5.1b | €230.5m | 12.5x | 18.6x | 0.8x |
| Thu, 22 Jan 2026 | €4.7b | €5.0b | €218.3m | 12.6x | 21.4x | 0.9x |
| Sat, 20 Dec 2025 | €4.4b | €5.0b | €218.3m | 12.9x | 20.2x | 0.9x |
| Mon, 17 Nov 2025 | €4.4b | €5.0b | €218.5m | 13.4x | 20.2x | 0.9x |
| Wed, 15 Oct 2025 | €4.8b | €5.0b | €242.1m | 14.2x | 19.9x | 1x |
| Fri, 12 Sep 2025 | €5.0b | €5.0b | €242.0m | 13.6x | 20.8x | 1x |
| Sun, 10 Aug 2025 | €5.0b | €5.0b | €248.1m | 11.8x | 20.3x | 1x |
| Tue, 08 Jul 2025 | €5.2b | €5.0b | €244.4m | 11.5x | 21.3x | 1x |
| Thu, 05 Jun 2025 | €4.9b | €5.0b | €244.7m | 11.1x | 19.9x | 1x |
| Sat, 03 May 2025 | €4.5b | €5.0b | €238.9m | 11.7x | 18.8x | 0.9x |
| Mon, 31 Mar 2025 | €4.4b | €5.0b | €269.7m | 11.9x | 16.4x | 0.9x |
| Wed, 26 Feb 2025 | €4.7b | €5.1b | €240.5m | 12.9x | 19.5x | 0.9x |
| Fri, 24 Jan 2025 | €4.4b | €5.2b | €285.3m | 11.6x | 15.5x | 0.9x |
| Sun, 22 Dec 2024 | €4.3b | €5.2b | €285.3m | 11x | 14.9x | 0.8x |
| Tue, 19 Nov 2024 | €4.3b | €5.2b | €286.3m | 10.6x | 15.1x | 0.8x |
| Thu, 17 Oct 2024 | €5.0b | €5.2b | €290.0m | 11.9x | 17.2x | 1x |
| Sat, 14 Sep 2024 | €5.4b | €5.2b | €289.7m | 12.8x | 18.5x | 1x |
| Mon, 12 Aug 2024 | €5.3b | €5.1b | €284.7m | 12.9x | 18.7x | 1x |
| Wed, 10 Jul 2024 | €5.4b | €5.2b | €312.9m | 11.1x | 17.3x | 1x |
| Fri, 07 Jun 2024 | €5.8b | €5.2b | €316.8m | 12.3x | 18.2x | 1.1x |
| Sun, 05 May 2024 | €5.6b | €5.2b | €316.9m | 13.5x | 17.7x | 1.1x |
| Tue, 02 Apr 2024 | €5.6b | €5.2b | €316.1m | 13.3x | 17.8x | 1.1x |
| Thu, 29 Feb 2024 | €5.8b | €5.2b | €314.4m | 13.6x | 18.5x | 1.1x |
| Sat, 27 Jan 2024 | €5.8b | €5.3b | €358.1m | 13.2x | 16.2x | 1.1x |
| Mon, 25 Dec 2023 | €6.4b | €5.3b | €357.9m | 13.9x | 18x | 1.2x |
| Wed, 22 Nov 2023 | €5.9b | €5.3b | €358.0m | 12.9x | 16.4x | 1.1x |
| Fri, 20 Oct 2023 | €5.5b | €5.3b | €349.8m | 12.3x | 15.8x | 1.1x |
| Sun, 17 Sep 2023 | €6.3b | €5.2b | €351.8m | 13.4x | 17.9x | 1.2x |
| Tue, 15 Aug 2023 | €6.7b | €5.2b | €350.6m | 14.4x | 19x | 1.3x |
| Thu, 13 Jul 2023 | €7.3b | €5.1b | €349.2m | 15.6x | 20.8x | 1.4x |
Price to Earnings Ratio
20.8x
Current Industry PE
- Investors are relatively neutral on the Belgian Information Technology 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 18.2x.
- The industry is trading close to its 3-year average PS ratio of 1.0x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have declined 11% 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 Tech sector?
| BE Market | 0.88% | |
| Tech | 1.83% | |
| Semiconductors | 2.81% | |
| Electronic Equipment and Components | 1.72% | |
| Communications | 0.18% | |
| IT | -1.98% | |
| Software | -4.26% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 17.3x.
- Analysts are expecting annual earnings growth of 16.1%, which is higher than its past year's earnings decline of 22.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Software industry, expecting annual earnings growth of 49% over the next 5 years.
- In contrast, the Communications industry is expected to see its earnings grow by 3.4% 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 | |
|---|---|---|---|---|---|
| MELE Melexis | €78.55 | 2.8% +€84.6m | 8.6% | PE27.8x | |
| BAR Barco | €8.52 | 2.2% +€15.1m | -32.3% | PE9.7x | |
| EVS EVS | €27.50 | 0.2% +€672.1k | -22.5% | PE9.6x |