Melexis NV's (EBR:MELE) P/E Still Appears To Be Reasonable
Jan 03
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Belgian (BEL20) Tech Sector Analysis
UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies7
- 7D-5.8%
- 3M0.8%
- 1Y10.0%
- YTD-0.6%
Over the last 7 days, the Tech industry has dropped 2.4%, driven by Melexis declining 11%. Meanwhile, Banqup Group actually outperformed within the industry, gaining 5.8% in the last week. This takes the industry's 12 month performance to a gain of 4.6%. As for the next few years, earnings are expected to grow by 19% 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 |
|---|---|---|---|---|---|---|
| Thu, 05 Feb 2026 | €4.5b | €5.0b | €218.3m | 12.7x | 20.4x | 0.9x |
| Sat, 03 Jan 2026 | €4.5b | €5.0b | €218.3m | 13x | 20.6x | 0.9x |
| Mon, 01 Dec 2025 | €4.3b | €5.0b | €218.5m | 13.3x | 19.6x | 0.9x |
| Wed, 29 Oct 2025 | €4.7b | €5.0b | €242.1m | 13.6x | 19.5x | 0.9x |
| Fri, 26 Sep 2025 | €5.1b | €5.0b | €242.1m | 14.1x | 20.9x | 1x |
| Sun, 24 Aug 2025 | €5.1b | €5.0b | €238.6m | 13.6x | 21.3x | 1x |
| Tue, 22 Jul 2025 | €5.4b | €5.0b | €258.7m | 11.7x | 20.8x | 1.1x |
| Thu, 19 Jun 2025 | €4.9b | €5.0b | €244.6m | 11x | 20.2x | 1x |
| Sat, 17 May 2025 | €4.8b | €5.0b | €245.5m | 12.1x | 19.6x | 1x |
| Mon, 14 Apr 2025 | €4.0b | €5.0b | €267.3m | 10.7x | 14.9x | 0.8x |
| Wed, 12 Mar 2025 | €4.5b | €5.0b | €276.1m | 12.6x | 16.4x | 0.9x |
| Fri, 07 Feb 2025 | €4.2b | €5.2b | €285.4m | 11.3x | 14.7x | 0.8x |
| Sun, 05 Jan 2025 | €4.3b | €5.2b | €285.5m | 11x | 15.1x | 0.8x |
| Tue, 03 Dec 2024 | €4.3b | €5.2b | €285.2m | 10.7x | 15x | 0.8x |
| Thu, 31 Oct 2024 | €4.6b | €5.2b | €290.0m | 11.1x | 16x | 0.9x |
| Sat, 28 Sep 2024 | €5.3b | €5.2b | €289.6m | 12.4x | 18.2x | 1x |
| Mon, 26 Aug 2024 | €5.5b | €5.2b | €286.0m | 13.1x | 19.4x | 1.1x |
| Wed, 24 Jul 2024 | €5.6b | €5.2b | €312.9m | 12.1x | 17.7x | 1.1x |
| Fri, 21 Jun 2024 | €5.6b | €5.2b | €313.1m | 11.6x | 17.9x | 1.1x |
| Sun, 19 May 2024 | €5.7b | €5.2b | €316.8m | 12.8x | 18.1x | 1.1x |
| Tue, 16 Apr 2024 | €5.6b | €5.2b | €315.1m | 13.1x | 17.8x | 1.1x |
| Thu, 14 Mar 2024 | €5.8b | €5.2b | €315.2m | 13.9x | 18.3x | 1.1x |
| Sat, 10 Feb 2024 | €5.9b | €5.3b | €355.8m | 13.4x | 16.7x | 1.1x |
| Mon, 08 Jan 2024 | €5.9b | €5.3b | €357.9m | 13x | 16.5x | 1.1x |
| Wed, 06 Dec 2023 | €6.1b | €5.3b | €358.1m | 13.2x | 16.9x | 1.1x |
| Fri, 03 Nov 2023 | €5.4b | €5.3b | €357.8m | 11.8x | 15.1x | 1x |
| Sun, 01 Oct 2023 | €6.1b | €5.3b | €349.8m | 13.3x | 17.5x | 1.2x |
| Tue, 29 Aug 2023 | €6.5b | €5.2b | €354.9m | 14.3x | 18.3x | 1.2x |
| Thu, 27 Jul 2023 | €6.9b | €5.1b | €360.2m | 15.2x | 19.1x | 1.3x |
| Sat, 24 Jun 2023 | €6.8b | €5.1b | €349.5m | 14.2x | 19.4x | 1.3x |
| Mon, 22 May 2023 | €7.1b | €5.1b | €347.7m | 14.3x | 20.3x | 1.4x |
| Wed, 19 Apr 2023 | €7.9b | €5.1b | €345.3m | 16.5x | 22.9x | 1.6x |
| Fri, 17 Mar 2023 | €7.8b | €5.1b | €355.1m | 20.7x | 22x | 1.5x |
| Sun, 12 Feb 2023 | €7.7b | €4.8b | €325.9m | 20.7x | 23.7x | 1.6x |
Price to Earnings Ratio
23.7x
Current Industry PE
- Investors are optimistic on the Belgian Information Technology industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 21.0x which is higher than its 3-year average PE of 18.6x.
- The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.92x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have declined 13% 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 | 3.76% | |
| Tech | -5.83% | |
| Software | 3.74% | |
| Communications | 0.28% | |
| Electronic Equipment and Components | -0.22% | |
| IT | -1.73% | |
| Semiconductors | -10.81% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 16.7x.
- Analysts are expecting annual earnings growth of 18.6%, which is higher than its past year's earnings decline of 46.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Software industry, expecting annual earnings growth of 72% over the next 5 years.
- In contrast, the Electronic Equipment and Components industry is expected to see its earnings grow by 8.6% 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 | |
|---|---|---|---|---|---|
| BANQ Banqup Group | €3.80 | 5.8% +€7.8m | 18.8% | PS1.8x | |
| HYSG Hybrid Software Group | €3.96 | 1.5% +€2.0m | 2.6% | PS2.5x | |
| PAY Payton Planar Magnetics | €6.80 | 1.5% +€1.8m | -4.2% | PE12.2x | |
| EVS EVS Broadcast Equipment | €36.40 | 0.3% +€1.4m | 13.6% | PE14.5x |