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Estonia (OMX) Market Analysis & Valuation

UpdatedJul 11, 2025
DataAggregated Company Financials
Companies31
  • 7D-0.4%
  • 3M3.5%
  • 1Y11.9%
  • YTD12.6%

The Healthcare sector gained 18% while the market remained flat over the last week. Meanwhile, the market is actually up 12% over the past year. Looking forward, earnings are forecast to grow by 4.8% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 13 Jul 2025€5.7b€5.1b€485.0m15.2x11.7x1.1x
Tue, 10 Jun 2025€5.8b€5.2b€488.2m15.2x11.9x1.1x
Thu, 08 May 2025€5.5b€5.1b€489.9m12.8x11.3x1.1x
Sat, 05 Apr 2025€5.5b€5.1b€588.7m12.4x9.4x1.1x
Mon, 03 Mar 2025€5.4b€5.1b€588.3m10.4x9.2x1.1x
Wed, 29 Jan 2025€5.2b€5.0b€607.9m10.6x8.5x1x
Fri, 27 Dec 2024€4.9b€5.0b€610.2m10.6x8.1x1x
Sun, 24 Nov 2024€4.9b€5.0b€610.9m10.5x8.1x1x
Tue, 22 Oct 2024€5.0b€4.8b€686.4m9.6x7.3x1x
Thu, 19 Sep 2024€4.8b€4.8b€691.1m9.5x7x1x
Sat, 17 Aug 2024€5.0b€4.8b€689.6m9.6x7.2x1x
Mon, 15 Jul 2024€5.0b€4.8b€731.2m11.4x6.9x1x
Wed, 12 Jun 2024€5.2b€4.8b€734.2m11.2x7.1x1.1x
Fri, 10 May 2024€5.2b€4.8b€723.5m12x7.2x1.1x
Sun, 07 Apr 2024€5.1b€4.9b€715.8m10.6x7.1x1x
Tue, 05 Mar 2024€5.1b€4.9b€736.1m11.3x6.9x1x
Thu, 01 Feb 2024€5.0b€5.0b€711.3m9.8x7.1x1x
Sat, 30 Dec 2023€5.0b€5.0b€708.8m10x7.1x1x
Mon, 27 Nov 2023€4.4b€3.8b€442.7m11.7x10x1.2x
Wed, 25 Oct 2023€4.6b€3.8b€424.6m11.2x10.7x1.2x
Fri, 22 Sep 2023€4.6b€3.8b€415.1m11.5x11.2x1.2x
Sun, 20 Aug 2023€4.7b€3.8b€413.7m11.2x11.4x1.2x
Tue, 18 Jul 2023€4.8b€3.7b€388.3m12.2x12.4x1.3x
Thu, 15 Jun 2023€4.8b€3.7b€386.6m12.6x12.4x1.3x
Sat, 13 May 2023€4.9b€3.7b€381.3m13.5x12.9x1.3x
Mon, 10 Apr 2023€5.0b€3.5b€321.4m15x15.4x1.4x
Wed, 08 Mar 2023€5.0b€3.5b€328.7m14.5x15.3x1.4x
Fri, 03 Feb 2023€5.0b€3.4b€309.6m12.6x16.1x1.5x
Sun, 01 Jan 2023€4.6b€3.4b€311.5m12.3x14.9x1.4x
Tue, 29 Nov 2022€4.5b€3.4b€311.7m12x14.5x1.3x
Thu, 27 Oct 2022€4.4b€3.2b€264.9m11.8x16.5x1.4x
Sat, 24 Sep 2022€4.5b€3.2b€274.7m11.3x16.4x1.4x
Mon, 22 Aug 2022€4.9b€3.2b€279.9m12x17.4x1.5x
Wed, 20 Jul 2022€4.6b€3.0b€251.0m13.4x18.2x1.5x
Price to Earnings Ratio

18.2x


Total Market Cap: €4.6bTotal Earnings: €251.0mTotal Revenue: €3.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Estonia Market Price to Earnings3Y Average 10.9x202320242025
Current Market PE
  • Investors are relatively neutral on the Estonian 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 10.9x.
Past Earnings Growth
  • The earnings for Estonian listed companies have grown 25% per year over the last three years.
  • Revenues for these companies have grown 20% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Estonia Market?

EE Market-0.44%
Healthcare17.97%
Telecom3.77%
Real Estate0.96%
Consumer Discretionary0.66%
Industrials-0.29%
Utilities-0.34%
Consumer Staples-1.05%
Financials-1.25%
Tech-4.99%
Sector PE
  • Investors favour the Real Estate sector the most for future growth which is trading above its 3-year average PE ratio.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Consumer Discretionary sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 5.4x.
Forecasted Growth
  • Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 4.8% over the next 5 years.
  • However this is lower than its past earnings growth rate of 25% per year.
  • In contrast, the Industrials sector is expected to see its earnings grow by 4.8% 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
MRK1T AS Merko Ehitus€30.401.2%
+€6.2m
81.6%PE7.6xIndustrials
MOLNR J. Molner€30.007.1%
+€3.4m
96.1%n/aHealthcare
PKG1T AS Pro Kapital Grupp€1.353.1%
+€2.3m
50.7%PE3826.4xReal Estate
EEG1T AS Ekspress Grupp€1.084.3%
+€1.4m
6.9%PE11.6xTelecom
HPR1T Hepsor€6.382.9%
+€693.8k
13.5%PE22.7xReal Estate
See more

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