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Belgian (BEL20) Market Analysis & Valuation

UpdatedMar 01, 2025
DataAggregated Company Financials
Companies167
  • 7D2.4%
  • 3M4.4%
  • 1Y6.5%
  • YTD5.0%

The market is up 2.4% over the last week, with the Consumer Staples sector leading the way, up 9.8%. As for the past 12 months, the market is up 6.5%. Looking forward, earnings are forecast to grow by 15% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

Has the Belgian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 01 Mar 2025€392.9b€234.9b€22.7b13.5x17.3x1.7x
Mon, 27 Jan 2025€369.4b€233.2b€20.9b12.5x17.6x1.6x
Wed, 25 Dec 2024€367.6b€233.7b€21.0b12.6x17.5x1.6x
Fri, 22 Nov 2024€364.8b€226.5b€21.6b13.8x16.9x1.6x
Sun, 20 Oct 2024€388.7b€224.5b€21.3b14.1x18.3x1.7x
Tue, 17 Sep 2024€390.1b€229.8b€21.0b14.1x18.6x1.7x
Thu, 15 Aug 2024€370.3b€228.4b€20.4b16.4x18.1x1.6x
Sat, 13 Jul 2024€377.2b€231.5b€21.2b15.8x17.8x1.6x
Mon, 10 Jun 2024€373.6b€232.6b€21.4b16x17.4x1.6x
Wed, 08 May 2024€375.0b€233.4b€22.1b14.9x17x1.6x
Fri, 05 Apr 2024€369.1b€237.7b€21.6b14.5x17.1x1.6x
Sun, 03 Mar 2024€360.9b€250.0b€22.7b13.6x15.9x1.4x
Tue, 30 Jan 2024€355.6b€248.5b€23.0b12.7x15.4x1.4x
Thu, 28 Dec 2023€358.3b€246.3b€22.1b13.2x16.2x1.5x
Sat, 25 Nov 2023€350.3b€239.2b€21.4b13.1x16.3x1.5x
Mon, 23 Oct 2023€320.5b€239.0b€21.4b12.8x15x1.3x
Wed, 20 Sep 2023€347.1b€241.2b€22.1b12.8x15.7x1.4x
Fri, 18 Aug 2023€337.9b€233.7b€22.5b12.4x15x1.4x
Sun, 16 Jul 2023€336.2b€233.4b€24.2b11.5x13.9x1.4x
Tue, 13 Jun 2023€338.9b€236.1b€24.6b11.9x13.8x1.4x
Thu, 11 May 2023€352.5b€234.1b€24.0b12.5x14.7x1.5x
Sat, 08 Apr 2023€371.2b€233.7b€21.8b11.1x17x1.6x
Mon, 06 Mar 2023€365.1b€233.7b€24.0b11.2x15.2x1.6x
Wed, 01 Feb 2023€354.0b€230.0b€24.2b10.3x14.6x1.5x
Fri, 30 Dec 2022€348.0b€231.0b€25.0b9.7x13.9x1.5x
Sun, 27 Nov 2022€342.8b€232.3b€25.4b9.7x13.5x1.5x
Tue, 25 Oct 2022€312.9b€232.9b€24.0b8.3x13.1x1.3x
Thu, 22 Sep 2022€325.6b€232.0b€24.0b9x13.6x1.4x
Sat, 20 Aug 2022€349.4b€230.7b€26.0b9.4x13.4x1.5x
Mon, 18 Jul 2022€343.5b€226.0b€26.0b9.8x13.2x1.5x
Wed, 15 Jun 2022€335.5b€222.1b€25.7b10.7x13x1.5x
Fri, 13 May 2022€365.1b€222.2b€25.7b11.9x14.2x1.6x
Sun, 10 Apr 2022€383.6b€218.8b€26.4b13.6x14.5x1.8x
Tue, 08 Mar 2022€339.9b€216.0b€26.0b12.6x13.1x1.6x
Price to Earnings Ratio

13.1x


Total Market Cap: €339.9bTotal Earnings: €26.0bTotal Revenue: €216.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Belgian Market Price to Earnings3Y Average 15.5x202320242025
Current Market PE
  • Investors are optimistic on the Belgian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 17.3x which is higher than its 3-year average PE of 15.5x.
Past Earnings Growth
  • The earnings for Belgian listed companies have declined 4.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.8% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Belgian Market?

BE Market2.36%
Consumer Staples9.85%
Telecom3.26%
Real Estate1.48%
Financials1.30%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Utilities-0.62%
Consumer Discretionary-1.27%
Healthcare-1.88%
Industrials-3.32%
Energy-3.76%
Tech-5.06%
Materials-5.40%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 290x.
    • Analysts are expecting annual earnings growth of 21.1%, which is lower than the prior year's growth of 183.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 44% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ABI Anheuser-Busch InBev€57.6411.7%
+€12.1b
3.3%PE20.2xConsumer Staples
KBC KBC Group€83.582.8%
+€904.2m
26.9%PB1.4xFinancials
AGS ageas€52.653.2%
+€303.1m
34.9%PE9.1xFinancials
PROX Proximus€6.0111.7%
+€203.3m
-22.1%PE4.2xTelecom
SHUR Shurgard Self Storage€34.954.3%
+€142.8m
-12.4%PB0.9xReal Estate
See more
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DEME

€134.00

DEME Group

7D

3.4%

1Y

0.8%

AGS

€52.65

ageas

7D

3.2%

1Y

34.9%

SYENS

€70.32

Syensqo

7D

-12.1%

1Y

-13.0%

ARGX

€597.20

argenx

7D

-3.6%

1Y

66.2%

PROX

€6.01

Proximus

7D

11.7%

1Y

-22.1%

ABI

€57.64

Anheuser-Busch InBev

7D

11.7%

1Y

3.3%

COFB

€59.00

Cofinimmo

7D

4.5%

1Y

2.3%

SHUR

€34.95

Shurgard Self Storage

7D

4.3%

1Y

-12.4%

LOTB

€8,690.00

Lotus Bakeries

7D

-4.3%

1Y

-0.5%

KBCA

€55.70

KBC Ancora

7D

1.6%

1Y

28.2%

BREB

€115.20

Brederode

7D

-3.7%

1Y

13.2%