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

Belgian (BEL20) Tech Sector Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies7
  • 7D-1.3%
  • 3M15.2%
  • 1Y8.6%
  • YTD11.6%

Over the last 7 days, the Tech industry has dropped 1.3%, driven by Melexis declining 2.4%. In the past year, the industry has gained 8.6%. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 May 2026€4.9b€5.1b€248.6m14.1x19.8x1x
Sun, 19 Apr 2026€4.4b€5.1b€250.0m13.4x17.6x0.9x
Tue, 17 Mar 2026€4.0b€5.1b€243.3m11.5x16.5x0.8x
Thu, 12 Feb 2026€4.3b€5.0b€222.5m11.6x19.2x0.9x
Sat, 10 Jan 2026€4.7b€5.0b€218.4m13.1x21.3x0.9x
Mon, 08 Dec 2025€4.6b€5.0b€218.4m13.2x21.1x0.9x
Wed, 05 Nov 2025€4.6b€5.0b€218.6m13.2x21x0.9x
Fri, 03 Oct 2025€5.1b€5.0b€242.1m14.3x20.9x1x
Sun, 31 Aug 2025€5.0b€5.0b€242.1m13.9x20.8x1x
Tue, 29 Jul 2025€5.1b€4.9b€256.9m11.7x19.8x1x
Thu, 26 Jun 2025€5.1b€5.0b€244.5m11.5x20.8x1x
Sat, 24 May 2025€4.6b€5.0b€245.3m11.1x18.9x0.9x
Mon, 21 Apr 2025€4.1b€5.0b€267.2m10.9x15.4x0.8x
Wed, 19 Mar 2025€4.8b€5.0b€276.1m13.1x17.2x0.9x
Fri, 14 Feb 2025€4.5b€5.1b€253.8m12.7x17.7x0.9x
Sun, 12 Jan 2025€4.4b€5.2b€285.6m11.4x15.3x0.8x
Tue, 10 Dec 2024€4.4b€5.2b€285.1m11x15.3x0.8x
Thu, 07 Nov 2024€4.5b€5.2b€284.6m10.8x16x0.9x
Sat, 05 Oct 2024€5.1b€5.2b€289.9m12.2x17.7x1x
Mon, 02 Sep 2024€5.6b€5.2b€289.8m13.3x19.3x1.1x
Wed, 31 Jul 2024€5.3b€5.1b€287.7m12.7x18.5x1x
Fri, 28 Jun 2024€5.3b€5.2b€313.1m11.3x17x1x
Sun, 26 May 2024€5.8b€5.2b€316.8m12.9x18.4x1.1x
Tue, 23 Apr 2024€5.5b€5.2b€315.1m12.9x17.4x1.1x
Thu, 21 Mar 2024€5.5b€5.2b€315.2m13.2x17.5x1.1x
Sat, 17 Feb 2024€6.0b€5.2b€351.7m13.5x17x1.2x
Mon, 15 Jan 2024€6.0b€5.3b€357.9m13.3x16.8x1.1x
Wed, 13 Dec 2023€6.2b€5.3b€358.1m13.2x17.2x1.2x
Fri, 10 Nov 2023€5.5b€5.3b€357.7m12x15.4x1x
Sun, 08 Oct 2023€6.1b€5.3b€349.8m13.3x17.5x1.2x
Tue, 05 Sep 2023€6.6b€5.2b€351.6m14.4x18.8x1.3x
Thu, 03 Aug 2023€7.2b€5.2b€346.2m15.6x20.7x1.4x
Sat, 01 Jul 2023€6.9b€5.1b€349.5m14.9x19.9x1.4x
Mon, 29 May 2023€7.0b€5.1b€349.7m14x20x1.4x
Price to Earnings Ratio

20x


Total Market Cap: €7.0bTotal Earnings: €349.7mTotal Revenue: €5.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Belgian Tech Sector Price to Earnings3Y Average 18.2x202420252026
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 Market0.80%
Tech-1.32%
Software2.08%
IT2.04%
Electronic Equipment and Components1.16%
Communications-1.74%
Semiconductors-2.44%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 16.9x.
    • Analysts are expecting annual earnings growth of 14.8%, 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 52% over the next 5 years.
  • In contrast, the Communications 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?

CompanyLast Price7D1YValuation
PAY Payton Planar Magnetics€8.401.8%
+€2.7m		22.6%PE15.6x
HYSG Hybrid Software Group€4.122.0%
+€2.6m		14.4%PE31.8x
BAR Barco€9.010.2%
+€1.2m		-29.9%PE10.2x

Latest News

EVS
€36.65
EVS Broadcast Equipment
7D
-2.8%
1Y
0%
ECONB
€1.50
Econocom Group
7D
-2.6%
1Y
-23.2%
Narrative Update • May 19

ECONB: Higher For Longer Rates Will Eventually Reward Execution And Capital Returns

Analysts have kept Econocom Group's fair value estimate broadly unchanged at about €1.84 per share, while slightly lifting the discount rate to 12.45% as they factor in higher-for-longer interest rate expectations following recent inflation data and central bank commentary. Analyst Commentary Recent macro research focuses heavily on higher inflation readings and a tougher backdrop for interest rate cuts, which feeds directly into the higher discount rate used for Econocom Group's valuation.
MELE
€76.75
Melexis
7D
-4.9%
1Y
32.2%
OPTI
€5.60
Option
7D
-7.0%
1Y
-9.7%
HYSG
€4.12
Hybrid Software Group
7D
2.0%
1Y
14.4%
BAR
€9.01
Barco
7D
0.2%
1Y
-29.9%
Narrative Update • Apr 30

BAR: HDR Cinema Partnerships Will Support A Cleaner Long Term Equity Repricing

Analysts have reduced their price target on Barco by about €0.70, as they fold in a slightly higher discount rate and lower future P/E multiple, partly reflecting a more cautious stance highlighted in recent research. Analyst Commentary Bullish Takeaways Bullish analysts see the reduced price target as still leaving room for upside if Barco delivers on execution, especially if earnings land close to current P/E assumptions.
BANQ
€2.37
Banqup Group
7D
-5.2%
1Y
-33.2%
PAY
€8.40
Payton Planar Magnetics
7D
1.8%
1Y
22.6%