Belgian (BEL20) Tech Sector Analysis

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, 21 Nov 2024	€4.2b	€5.2b	€286.3m	10.5x	14.8x	0.8x
Sat, 19 Oct 2024	€5.0b	€5.2b	€290.0m	12x	17.2x	1x
Mon, 16 Sep 2024	€5.4b	€5.2b	€289.7m	12.8x	18.5x	1x
Wed, 14 Aug 2024	€5.4b	€5.1b	€284.6m	13x	19x	1x
Fri, 12 Jul 2024	€5.6b	€5.2b	€312.9m	11.4x	17.8x	1.1x
Sun, 09 Jun 2024	€5.8b	€5.2b	€312.4m	12.2x	18.5x	1.1x
Tue, 07 May 2024	€5.7b	€5.2b	€316.9m	13.6x	17.9x	1.1x
Thu, 04 Apr 2024	€5.6b	€5.2b	€316.0m	13.2x	17.7x	1.1x
Sat, 02 Mar 2024	€5.9b	€5.2b	€314.4m	13.6x	18.7x	1.1x
Mon, 29 Jan 2024	€5.8b	€5.3b	€358.1m	13.2x	16.2x	1.1x
Wed, 27 Dec 2023	€6.4b	€5.3b	€357.9m	13.9x	18x	1.2x
Fri, 24 Nov 2023	€6.0b	€5.3b	€358.0m	13.2x	16.8x	1.1x
Sun, 22 Oct 2023	€5.4b	€5.3b	€349.8m	12.4x	15.6x	1x
Tue, 19 Sep 2023	€6.2b	€5.2b	€351.8m	13.3x	17.7x	1.2x
Thu, 17 Aug 2023	€6.6b	€5.2b	€349.0m	14.6x	18.8x	1.3x
Sat, 15 Jul 2023	€7.3b	€5.1b	€349.1m	15.7x	20.8x	1.4x
Mon, 12 Jun 2023	€7.1b	€5.1b	€349.7m	14.4x	20.3x	1.4x
Wed, 10 May 2023	€7.1b	€5.1b	€347.6m	14.4x	20.3x	1.4x
Fri, 07 Apr 2023	€7.9b	€5.0b	€354.1m	16.5x	22.3x	1.6x
Sun, 05 Mar 2023	€8.1b	€5.1b	€356.6m	21.3x	22.7x	1.6x
Tue, 31 Jan 2023	€7.3b	€4.8b	€306.9m	22x	23.9x	1.5x
Thu, 29 Dec 2022	€6.7b	€4.8b	€297.2m	22.1x	22.6x	1.4x
Sat, 26 Nov 2022	€6.7b	€4.8b	€297.7m	21.4x	22.5x	1.4x
Mon, 24 Oct 2022	€6.0b	€4.7b	€286.0m	19.6x	21.1x	1.3x
Wed, 21 Sep 2022	€6.3b	€4.7b	€285.8m	20.6x	22.2x	1.3x
Fri, 19 Aug 2022	€6.9b	€4.7b	€295.1m	19.7x	23.3x	1.5x
Sun, 17 Jul 2022	€6.2b	€4.4b	€251.2m	18.6x	24.6x	1.4x
Tue, 14 Jun 2022	€6.2b	€4.4b	€250.9m	19.3x	24.9x	1.4x
Thu, 12 May 2022	€6.4b	€4.4b	€250.8m	19.8x	25.5x	1.5x
Sat, 09 Apr 2022	€6.4b	€4.3b	€224.7m	23.6x	28.6x	1.5x
Mon, 07 Mar 2022	€6.3b	€4.3b	€224.3m	23.4x	28x	1.5x
Wed, 02 Feb 2022	€7.1b	€4.3b	€175.2m	24.9x	40.8x	1.7x
Fri, 31 Dec 2021	€7.8b	€4.3b	€175.1m	26.5x	44.4x	1.8x
Sun, 28 Nov 2021	€7.6b	€4.4b	€175.7m	33.6x	43.2x	1.7x

Current Industry PE

Investors are pessimistic on the Belgian Information Technology 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 14.9x which is lower than its 3-year average PE of 22.4x.

The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 0.83x.

Past Earnings Growth

The earnings for companies in the Information Technology industry have grown 18% per year over the last three years.
Revenues for these companies have grown 5.8% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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


BE Market	-1.59%
Tech	-3.56%
IT	0.25%
Tech Hardware	0%
Communications	-1.51%
Semiconductors	-3.19%
Software	-5.34%
Electronic Equipment and Components	-5.86%

Industry PE

Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 12.2x.

Analysts are expecting annual earnings growth of 20.2%, which is higher than its past year's earnings decline of 9.4% per year.

Forecasted Growth

Analysts are most optimistic on the Software industry, expecting annual earnings growth of 74% over the next 5 years.

In contrast, the Communications industry is expected to see its earnings growth to stay flat over the next few years.

Company	Last Price	7D	1Y	Valuation
HYSG Hybrid Software Group	€3.48	2.4% +€2.6m	-0.6%	PE30.1x
PAY Payton Planar Magnetics	€8.10	1.3% +€1.8m	11.7%	PE9.1x
ECONB Econocom Group	€2.04	0.2% +€857.6k	-15.9%	PE6.1x

Company

Last Price

Valuation

HYSG Hybrid Software Group

€3.48

2.4%
+€2.6m

-0.6%

PE30.1x

PAY Payton Planar Magnetics

€8.10

1.3%
+€1.8m

11.7%