Bermudian (BSX) Market Analysis & Valuation

UpdatedSep 02, 2025

DataAggregated Company Financials

Companies4

7D2.1%
3M4.0%
1Y-13.6%
YTD-5.5%

Over the last 7 days, the market has risen 2.1%, driven by gains of 2.7% in the Financials sector. In contrast, the Materials sector is lagging, dropping 7.1%. In contrast, the market has seen a decline of 14% over the last 12 months.

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 02 Sep 2025	BD$225.9m	BD$491.5m	BD$22.0m	9.2x	10.3x	0.5x
Thu, 31 Jul 2025	BD$200.1m	BD$497.7m	BD$16.6m	9.8x	12x	0.4x
Sat, 28 Jun 2025	BD$239.8m	BD$519.3m	BD$21.3m	9.7x	11.3x	0.5x
Mon, 26 May 2025	BD$225.5m	BD$504.7m	BD$27.0m	7.3x	8.4x	0.4x
Wed, 23 Apr 2025	BD$266.7m	BD$576.5m	BD$32.1m	7.3x	8.3x	0.5x
Fri, 21 Mar 2025	BD$220.5m	BD$534.1m	BD$27.5m	9.2x	8x	0.4x
Sun, 16 Feb 2025	BD$210.7m	BD$470.4m	BD$24.3m	8.9x	8.7x	0.4x
Tue, 14 Jan 2025	BD$212.6m	BD$470.4m	BD$24.3m	8.9x	8.8x	0.5x
Thu, 12 Dec 2024	BD$307.9m	BD$743.5m	BD$32.1m	10.4x	9.6x	0.4x
Sat, 09 Nov 2024	BD$314.1m	BD$729.3m	BD$29.8m	12.8x	10.5x	0.4x
Mon, 07 Oct 2024	BD$323.9m	BD$740.7m	BD$30.2m	12.3x	10.7x	0.4x
Wed, 04 Sep 2024	BD$319.7m	BD$710.2m	BD$33.8m	15.5x	9.4x	0.5x
Fri, 02 Aug 2024	BD$355.2m	BD$677.8m	BD$52.0m	11.4x	6.8x	0.5x
Sun, 30 Jun 2024	BD$413.2m	BD$723.6m	BD$56.4m	9.9x	7.3x	0.6x
Tue, 28 May 2024	BD$445.3m	BD$742.3m	BD$60.4m	8.8x	7.4x	0.6x
Thu, 25 Apr 2024	BD$431.7m	BD$462.0m	BD$48.4m	8.9x	8.9x	0.9x
Sat, 23 Mar 2024	BD$463.5m	BD$473.9m	BD$50.8m	11.1x	9.1x	1x
Mon, 19 Feb 2024	BD$440.8m	BD$471.0m	BD$48.9m	11.3x	9x	0.9x
Wed, 17 Jan 2024	BD$946.8m	BD$725.0m	BD$254.5m	11.1x	3.7x	1.3x
Fri, 15 Dec 2023	BD$942.9m	BD$715.3m	BD$258.6m	10.6x	3.6x	1.3x
Sun, 12 Nov 2023	BD$900.2m	BD$715.3m	BD$258.6m	10.6x	3.5x	1.3x
Tue, 10 Oct 2023	BD$892.6m	BD$684.8m	BD$231.7m	10.7x	3.9x	1.3x
Thu, 07 Sep 2023	BD$896.6m	BD$687.2m	BD$231.7m	10.1x	3.9x	1.3x
Sat, 05 Aug 2023	BD$913.4m	BD$687.2m	BD$231.7m	12x	3.9x	1.3x
Mon, 03 Jul 2023	BD$914.0m	BD$677.9m	BD$248.0m	12x	3.7x	1.3x
Wed, 31 May 2023	BD$910.8m	BD$677.2m	BD$247.7m	12.2x	3.7x	1.3x
Fri, 28 Apr 2023	BD$892.4m	BD$677.5m	BD$248.0m	11.8x	3.6x	1.3x
Sun, 26 Mar 2023	BD$862.4m	BD$663.4m	BD$248.5m	11.8x	3.5x	1.3x
Tue, 21 Feb 2023	BD$879.1m	BD$667.8m	BD$253.8m	8.5x	3.5x	1.3x
Thu, 19 Jan 2023	BD$884.2m	BD$667.8m	BD$253.8m	8.5x	3.5x	1.3x
Sat, 17 Dec 2022	BD$884.2m	BD$667.1m	BD$235.5m	8.5x	3.8x	1.3x
Mon, 14 Nov 2022	BD$896.7m	BD$688.7m	BD$241.2m	8.9x	3.7x	1.3x
Wed, 12 Oct 2022	BD$892.4m	BD$695.6m	BD$246.4m	5.1x	3.6x	1.3x
Fri, 09 Sep 2022	BD$909.4m	BD$695.5m	BD$246.6m	5.1x	3.7x	1.3x

Price to Earnings Ratio

3.7x

Fri, 09 Sep 2022

Current Market PE

Investors are optimistic on the Bermuda market, and appear confident in strong long term growth rates.

The market is trading at a PE ratio of 10.3x which is higher than its 3-year average PE of 6.5x.

Past Earnings Growth

The earnings for companies in the Bermuda industry have declined 55% per year over the last three years.
Revenues have also declined 11% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Bermudian Market?


BM Market	2.14%
Financials	2.67%
Real Estate	0%	0
Industrials	0%	0
Telecom	0%	0
Utilities	0%	0
Materials	-7.14%

Sector PE

Investors favour the Financials sector the most for future growth, which is trading above its 3-year average PE ratio of 6.1x.

It looks like investors are confident that earnings will grow faster in the future than they have historically.

The Materials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 5.5x.

Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.