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Estonia (OMX) Market Analysis & Valuation

UpdatedMay 24, 2025
DataAggregated Company Financials
Companies30
  • 7D0.5%
  • 3M4.1%
  • 1Y10.5%
  • YTD14.3%

The Real Estate sector gained 4.4% while the market remained flat over the last week. More promisingly, the market is up 10% over the past year. Earnings are forecast to be flat in the coming years.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 24 May 2025€5.7b€5.1b€484.3m15x11.8x1.1x
Mon, 21 Apr 2025€5.5b€5.1b€583.7m11.8x9.4x1.1x
Wed, 19 Mar 2025€5.2b€5.1b€589.7m9.5x8.9x1x
Fri, 14 Feb 2025€5.4b€5.1b€621.5m10x8.7x1.1x
Sun, 12 Jan 2025€5.0b€5.0b€610.2m10.9x8.3x1x
Tue, 10 Dec 2024€4.9b€5.0b€610.2m11.1x8x1x
Thu, 07 Nov 2024€5.0b€4.9b€594.5m10.6x8.4x1x
Sat, 05 Oct 2024€4.9b€4.8b€691.3m9.5x7x1x
Mon, 02 Sep 2024€4.9b€4.8b€690.9m9.5x7.1x1x
Wed, 31 Jul 2024€5.0b€4.8b€707.0m11.4x7x1x
Fri, 28 Jun 2024€5.0b€4.8b€734.2m10.9x6.8x1x
Sun, 26 May 2024€5.2b€4.8b€738.3m11.2x7x1.1x
Tue, 23 Apr 2024€5.2b€4.8b€706.8m11.1x7.4x1.1x
Thu, 21 Mar 2024€5.1b€4.9b€715.2m11.1x7.2x1x
Sat, 17 Feb 2024€5.0b€5.0b€710.4m11.6x7x1x
Mon, 15 Jan 2024€5.1b€5.0b€709.1m10.2x7.2x1x
Wed, 13 Dec 2023€4.5b€3.8b€441.1m11.4x10.2x1.2x
Fri, 10 Nov 2023€4.5b€3.8b€447.8m11.8x10.1x1.2x
Sun, 08 Oct 2023€4.6b€3.8b€415.9m11.5x11.2x1.2x
Tue, 05 Sep 2023€4.7b€3.8b€414.9m11.6x11.2x1.2x
Thu, 03 Aug 2023€4.8b€3.8b€454.1m11x10.6x1.3x
Sat, 01 Jul 2023€4.8b€3.7b€386.6m12.5x12.4x1.3x
Mon, 29 May 2023€4.8b€3.7b€382.0m13.4x12.6x1.3x
Wed, 26 Apr 2023€4.9b€3.6b€348.3m13.9x14.2x1.4x
Fri, 24 Mar 2023€4.9b€3.5b€322.0m14.7x15.3x1.4x
Sun, 19 Feb 2023€5.0b€3.5b€320.1m14.1x15.5x1.4x
Tue, 17 Jan 2023€4.9b€3.4b€311.5m12.4x15.6x1.4x
Thu, 15 Dec 2022€4.8b€3.4b€311.5m12.2x15.4x1.4x
Sat, 12 Nov 2022€4.6b€3.4b€306.3m12.8x15x1.4x
Mon, 10 Oct 2022€4.5b€3.2b€274.0m11.2x16.2x1.4x
Wed, 07 Sep 2022€4.7b€3.2b€275.1m11.5x17.1x1.5x
Fri, 05 Aug 2022€4.6b€3.1b€272.1m12.4x17.1x1.5x
Sun, 03 Jul 2022€4.7b€3.0b€250.2m13.6x18.8x1.6x
Tue, 31 May 2022€4.8b€3.0b€249.1m16.7x19.2x1.6x
Price to Earnings Ratio

19.2x


Total Market Cap: €4.8bTotal Earnings: €249.1mTotal Revenue: €3.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Estonia Market Price to Earnings3Y Average 11.2x202320242025
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 11.2x.
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 Market0.54%
Real Estate4.35%
Industrials1.04%
Healthcare0.81%
Telecom0.70%
Financials0.30%
Utilities0.26%
Consumer Staples0.19%
Consumer Discretionary-0.13%
Tech-0.75%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 13.6x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
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 Utilities sector is expected to see its earnings decline by 3.0% 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
TAL1T AS Tallink Grupp€0.652.4%
+€11.2m
-9.5%PE107.4xIndustrials
MRK1T AS Merko Ehitus€32.401.4%
+€8.0m
84.7%PE8.1xIndustrials
TVE1T AS Tallinna Vesi€11.502.7%
+€6.0m
8.0%PE16.8xUtilities
LHV1T AS LHV Group€3.700.4%
+€4.9m
4.8%PB1.8xFinancials
HPR1T Hepsor€7.189.5%
+€2.4m
10.5%PE25.6xReal Estate
See more
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Latest News

MRK1T

€32.40

AS Merko Ehitus

7D

1.4%

1Y

84.7%

PKG1T

€1.08

AS Pro Kapital Grupp

7D

3.8%

1Y

0.9%

EGR1T

€3.34

Enefit Green

7D

-0.3%

1Y

9.0%

TSM1T

€1.19

AS Tallinna Sadam

7D

-0.3%

1Y

6.3%

HAE1T

€4.76

AS Harju Elekter

7D

-3.3%

1Y

-3.6%

NHCBHFFT

€0.25

Baltic Horizon Fund

7D

-5.4%

1Y

-16.2%

CPA1T

€2.20

Coop Pank

7D

0.7%

1Y

0%

LHV1T

€3.70

AS LHV Group

7D

0.4%

1Y

4.8%

SAUNA

€3.00

Saunum Group

7D

-7.7%

1Y

-19.1%

TPD1T

€0.68

AS Trigon Property Development

7D

-2.9%

1Y

3.0%

SFG1T

€1.43

AS Silvano Fashion Group

7D

-0.7%

1Y

31.2%