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Estonia (OMX) Market Analysis & Valuation

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies29
  • 7D-0.4%
  • 3M6.0%
  • 1Y8.6%
  • YTD-0.4%

The market has been flat in the last week, however the Consumer Discretionary sector is down 3.1%. Meanwhile, the market is actually up 8.6% over the past year. As for the next few years, earnings are expected to grow by 2.7% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026€4.7b€5.2b€358.4m14.8x13.2x0.9x
Tue, 09 Dec 2025€4.5b€5.2b€358.4m14.1x12.6x0.9x
Thu, 06 Nov 2025€4.4b€5.3b€358.2m14.3x12.3x0.8x
Sat, 04 Oct 2025€4.5b€5.2b€412.3m13.1x10.9x0.9x
Mon, 01 Sep 2025€4.7b€5.2b€411.7m14.1x11.4x0.9x
Wed, 30 Jul 2025€5.6b€5.1b€466.2m15.2x12.1x1.1x
Fri, 27 Jun 2025€5.7b€5.2b€488.2m15.2x11.7x1.1x
Sun, 25 May 2025€5.7b€5.2b€488.0m15.1x11.7x1.1x
Tue, 22 Apr 2025€5.5b€5.1b€583.7m11.8x9.4x1.1x
Thu, 20 Mar 2025€5.2b€5.1b€589.7m9.5x8.9x1x
Sat, 15 Feb 2025€5.4b€5.0b€619.5m10.2x8.8x1.1x
Mon, 13 Jan 2025€5.0b€5.0b€610.2m10.9x8.3x1x
Wed, 11 Dec 2024€4.9b€5.0b€610.2m11.1x8x1x
Fri, 08 Nov 2024€5.0b€4.9b€595.0m10.2x8.5x1x
Sun, 06 Oct 2024€4.9b€4.8b€691.3m9.5x7x1x
Tue, 03 Sep 2024€4.9b€4.8b€691.1m9.7x7.1x1x
Thu, 01 Aug 2024€5.0b€4.8b€707.0m11.4x7x1x
Sat, 29 Jun 2024€5.0b€4.8b€734.2m10.9x6.8x1x
Mon, 27 May 2024€5.2b€4.8b€738.3m11.2x7x1.1x
Wed, 24 Apr 2024€5.2b€4.8b€706.8m11x7.3x1.1x
Fri, 22 Mar 2024€5.1b€4.9b€715.2m11.1x7.2x1x
Sun, 18 Feb 2024€5.0b€5.0b€710.5m11.3x7x1x
Tue, 16 Jan 2024€5.1b€5.0b€709.1m10.3x7.2x1x
Thu, 14 Dec 2023€4.5b€3.8b€441.1m11.4x10.1x1.2x
Sat, 11 Nov 2023€4.5b€3.8b€447.8m11.8x10.1x1.2x
Mon, 09 Oct 2023€4.6b€3.8b€415.9m11.5x11.2x1.2x
Wed, 06 Sep 2023€4.7b€3.8b€414.9m11.6x11.3x1.2x
Fri, 04 Aug 2023€4.8b€3.8b€455.5m10.7x10.5x1.3x
Sun, 02 Jul 2023€4.8b€3.7b€386.6m12.5x12.4x1.3x
Tue, 30 May 2023€4.8b€3.7b€382.0m13.4x12.6x1.3x
Thu, 27 Apr 2023€4.9b€3.6b€348.3m13.8x14.1x1.4x
Sat, 25 Mar 2023€4.9b€3.5b€322.0m14.6x15.2x1.4x
Mon, 20 Feb 2023€5.0b€3.5b€320.1m14.1x15.5x1.4x
Wed, 18 Jan 2023€4.8b€3.4b€311.5m12.4x15.5x1.4x
Price to Earnings Ratio

15.5x


Total Market Cap: €4.8bTotal Earnings: €311.5mTotal Revenue: €3.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Estonia Market Price to Earnings3Y Average 10.1x202420252026
Current Market PE
  • Investors are optimistic on the Estonian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 13.2x which is higher than its 3-year average PE of 10.1x.
Past Earnings Growth
  • The earnings for Estonian listed companies have grown 4.8% per year over the last three years.
  • Revenues for these companies have grown 15% 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-0.43%
Consumer Staples1.30%
Utilities0.16%
Industrials0.14%
Telecom0.045%
Real Estate-0.42%
Healthcare-0.71%
Tech-1.48%
Financials-1.89%
Consumer Discretionary-3.07%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 22.6x.
    • 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 5.3x.
Forecasted Growth
  • Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 2.7% over the next 5 years.
  • However this is lower than its past earnings growth rate of 4.4% per year.
  • In contrast, the Industrials sector is expected to see its earnings grow by 2.7% 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
TSM1T AS Tallinna Sadam€1.331.8%
+€6.3m
23.4%PE15.1xIndustrials
TVE1T AS Tallinna Vesi€11.302.7%
+€6.0m
10.2%PE16.2xUtilities
TKM1T TKM Grupp€9.761.1%
+€4.5m
-0.8%PE21.2xConsumer Staples
TAL1T AS Tallink Grupp€0.590.5%
+€2.2m
-2.1%PS0.6xIndustrials
HAE1T AS Harju Elekter€4.961.4%
+€1.3m
2.8%PE15.7xIndustrials
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