Umicore SA's (EBR:UMI) 25% Price Boost Is Out Of Tune With Revenues
Oct 12
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Belgian (BEL20) Market Analysis & Valuation
UpdatedOct 13, 2025
DataAggregated Company Financials
Companies165
- 7D0.4%
- 3M6.7%
- 1Y7.6%
- YTD13.6%
The Utilities sector gained 3.6% while the market remained flat over the last week. Meanwhile, the market is actually up 7.6% over the past year. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 13 Oct 2025 | €417.4b | €219.7b | €23.9b | 15.3x | 17.5x | 1.9x |
| Wed, 10 Sep 2025 | €400.6b | €218.7b | €24.1b | 16.1x | 16.6x | 1.8x |
| Fri, 08 Aug 2025 | €396.3b | €224.1b | €25.2b | 15.4x | 15.7x | 1.8x |
| Sun, 06 Jul 2025 | €391.0b | €221.5b | €23.0b | 15.2x | 17x | 1.8x |
| Tue, 03 Jun 2025 | €394.7b | €223.1b | €23.3b | 14.3x | 17x | 1.8x |
| Thu, 01 May 2025 | €383.5b | €223.5b | €22.7b | 14.3x | 16.9x | 1.7x |
| Sat, 29 Mar 2025 | €381.0b | €226.1b | €23.2b | 14.2x | 16.4x | 1.7x |
| Mon, 24 Feb 2025 | €381.8b | €232.9b | €21.8b | 13.4x | 17.5x | 1.6x |
| Wed, 22 Jan 2025 | €369.5b | €233.6b | €21.0b | 13x | 17.6x | 1.6x |
| Fri, 20 Dec 2024 | €365.2b | €234.0b | €21.0b | 12.6x | 17.4x | 1.6x |
| Sun, 17 Nov 2024 | €366.5b | €226.0b | €21.8b | 13.1x | 16.8x | 1.6x |
| Tue, 15 Oct 2024 | €385.0b | €224.1b | €21.2b | 14x | 18.2x | 1.7x |
| Thu, 12 Sep 2024 | €387.1b | €230.3b | €21.0b | 14.7x | 18.4x | 1.7x |
| Sat, 10 Aug 2024 | €345.2b | €218.5b | €17.6b | 16.3x | 19.7x | 1.6x |
| Mon, 08 Jul 2024 | €370.3b | €231.8b | €21.2b | 15x | 17.4x | 1.6x |
| Wed, 05 Jun 2024 | €372.9b | €232.4b | €21.2b | 15.4x | 17.6x | 1.6x |
| Fri, 03 May 2024 | €366.1b | €233.5b | €22.0b | 14.6x | 16.6x | 1.6x |
| Sun, 31 Mar 2024 | €369.8b | €237.9b | €21.6b | 14.2x | 17.1x | 1.6x |
| Tue, 27 Feb 2024 | €363.6b | €248.9b | €23.5b | 13.8x | 15.5x | 1.5x |
| Thu, 25 Jan 2024 | €354.0b | €248.2b | €23.0b | 12.7x | 15.4x | 1.4x |
| Sat, 23 Dec 2023 | €356.5b | €246.8b | €22.1b | 13.2x | 16.1x | 1.4x |
| Mon, 20 Nov 2023 | €344.0b | €239.2b | €21.3b | 14.4x | 16.2x | 1.4x |
| Wed, 18 Oct 2023 | €331.5b | €239.2b | €21.5b | 12.9x | 15.4x | 1.4x |
| Fri, 15 Sep 2023 | €343.0b | €241.3b | €21.9b | 13.1x | 15.6x | 1.4x |
| Sun, 13 Aug 2023 | €341.8b | €233.3b | €22.5b | 12.8x | 15.2x | 1.5x |
| Tue, 11 Jul 2023 | €331.0b | €234.5b | €24.4b | 11.3x | 13.6x | 1.4x |
| Thu, 08 Jun 2023 | €339.8b | €236.4b | €24.6b | 11.6x | 13.8x | 1.4x |
| Sat, 06 May 2023 | €360.0b | €233.6b | €24.3b | 11.6x | 14.8x | 1.5x |
| Mon, 03 Apr 2023 | €364.0b | €234.1b | €23.8b | 10.8x | 15.3x | 1.6x |
| Wed, 01 Mar 2023 | €364.3b | €233.1b | €23.4b | 11.3x | 15.6x | 1.6x |
| Fri, 27 Jan 2023 | €351.3b | €229.9b | €24.8b | 10.2x | 14.2x | 1.5x |
| Sun, 25 Dec 2022 | €346.6b | €231.3b | €25.1b | 9.8x | 13.8x | 1.5x |
| Tue, 22 Nov 2022 | €337.9b | €233.4b | €25.5b | 9.5x | 13.3x | 1.4x |
| Thu, 20 Oct 2022 | €312.7b | €232.9b | €24.1b | 8.4x | 13x | 1.3x |
Price to Earnings Ratio
13x
Current Market PE
- Investors are relatively neutral on the Belgian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 16.1x.
Past Earnings Growth
- Both revenue and earnings for Belgian listed companies have remained mostly flat over the last three years.
- This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Sector Trends
Which sectors have driven the changes within the Belgian Market?
| BE Market | 0.39% | |
| Utilities | 3.61% | |
| Consumer Discretionary | 1.82% | |
| Healthcare | 1.69% | |
| Consumer Staples | 1.38% | |
| Telecom | 0.56% | |
| Materials | -0.19% | |
| Industrials | -0.22% | |
| Energy | -0.95% | |
| Real Estate | -1.23% | |
| Financials | -1.35% | |
| Tech | -3.83% | |
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 247x.
- Analysts are expecting annual earnings growth of 22.3%, which is lower than the prior year's growth of 62.9% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.6x.
Forecasted Growth
- Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 38% over the next 5 years.
- However this is lower than its past earnings growth rate of 87% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 2.9% 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 | Sector | |
|---|---|---|---|---|---|---|
| ABI Anheuser-Busch InBev | €51.36 | 2.5% +€2.4b | -13.8% | PE16.4x | Consumer Staples | |
| UCB UCB | €256.00 | 1.1% +€532.0m | 47.9% | PE36.5x | Healthcare | |
| ELI Elia Group | €103.20 | 4.8% +€512.5m | 7.9% | PE22.1x | Utilities | |
| ARGX argenx | €685.40 | 0.8% +€342.7m | 37.8% | PE38x | Healthcare | |
| UMI Umicore | €16.48 | 8.1% +€295.9m | 51.7% | PE30.8x | Materials |
