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Estonia (OMX) Market Analysis & Valuation
UpdatedDec 06, 2025
DataAggregated Company Financials
Companies29
- 7D0.7%
- 3M-3.1%
- 1Y8.0%
- YTD5.3%
In the last week, the market has stayed flat, however the Industrials sector stood out, gaining 3.2%. Meanwhile, the market is actually up 8.0% over the past year. Looking forward, earnings are forecast to grow by 2.7% annually.
Market Valuation and Performance
Has the Estonia Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Dec 2025 | €4.5b | €5.2b | €358.4m | 14x | 12.6x | 0.9x |
| Mon, 03 Nov 2025 | €4.4b | €5.2b | €410.3m | 13.3x | 10.6x | 0.8x |
| Wed, 01 Oct 2025 | €4.4b | €5.2b | €412.1m | 13x | 10.7x | 0.9x |
| Fri, 29 Aug 2025 | €4.7b | €5.2b | €411.5m | 14x | 11.4x | 0.9x |
| Sun, 27 Jul 2025 | €5.7b | €5.1b | €466.2m | 15.2x | 12.1x | 1.1x |
| Tue, 24 Jun 2025 | €5.7b | €5.2b | €488.2m | 15.2x | 11.7x | 1.1x |
| Thu, 22 May 2025 | €5.7b | €5.1b | €484.3m | 15.1x | 11.8x | 1.1x |
| Sat, 19 Apr 2025 | €5.5b | €5.1b | €583.7m | 11.8x | 9.4x | 1.1x |
| Mon, 17 Mar 2025 | €5.3b | €5.1b | €589.7m | 9.6x | 9x | 1x |
| Wed, 12 Feb 2025 | €5.4b | €5.0b | €618.3m | 10.1x | 8.7x | 1.1x |
| Fri, 10 Jan 2025 | €5.0b | €5.0b | €610.2m | 10.7x | 8.2x | 1x |
| Sun, 08 Dec 2024 | €4.9b | €5.0b | €610.2m | 11.2x | 8x | 1x |
| Tue, 05 Nov 2024 | €5.0b | €4.9b | €594.5m | 10.2x | 8.4x | 1x |
| Thu, 03 Oct 2024 | €4.8b | €4.8b | €691.2m | 9.6x | 7x | 1x |
| Sat, 31 Aug 2024 | €4.9b | €4.8b | €691.1m | 9.5x | 7.1x | 1x |
| Mon, 29 Jul 2024 | €5.0b | €4.8b | €734.3m | 11.4x | 6.8x | 1x |
| Wed, 26 Jun 2024 | €5.1b | €4.8b | €734.2m | 10.9x | 6.9x | 1x |
| Fri, 24 May 2024 | €5.2b | €4.8b | €738.3m | 11.1x | 7x | 1.1x |
| Sun, 21 Apr 2024 | €5.2b | €4.9b | €713.4m | 11.1x | 7.3x | 1.1x |
| Tue, 19 Mar 2024 | €5.1b | €4.9b | €715.2m | 10.9x | 7.2x | 1x |
| Thu, 15 Feb 2024 | €5.0b | €5.0b | €713.3m | 11.3x | 7x | 1x |
| Sat, 13 Jan 2024 | €5.1b | €5.0b | €709.1m | 10.2x | 7.2x | 1x |
| Mon, 11 Dec 2023 | €4.4b | €3.8b | €441.1m | 11.4x | 10x | 1.2x |
| Wed, 08 Nov 2023 | €4.5b | €3.9b | €455.1m | 10x | 9.9x | 1.2x |
| Fri, 06 Oct 2023 | €4.7b | €3.8b | €415.9m | 11.5x | 11.2x | 1.2x |
| Sun, 03 Sep 2023 | €4.7b | €3.8b | €414.9m | 11.4x | 11.2x | 1.2x |
| Tue, 01 Aug 2023 | €4.8b | €3.8b | €454.1m | 11.1x | 10.6x | 1.3x |
| Thu, 29 Jun 2023 | €4.8b | €3.7b | €386.6m | 12.8x | 12.4x | 1.3x |
| Sat, 27 May 2023 | €4.8b | €3.7b | €382.7m | 13.4x | 12.5x | 1.3x |
| Mon, 24 Apr 2023 | €4.9b | €3.6b | €348.3m | 13.9x | 14.2x | 1.4x |
| Wed, 22 Mar 2023 | €4.9b | €3.5b | €322.0m | 14.9x | 15.3x | 1.4x |
| Fri, 17 Feb 2023 | €5.0b | €3.5b | €328.1m | 13.4x | 15.1x | 1.4x |
| Sun, 15 Jan 2023 | €4.8b | €3.4b | €311.5m | 12.4x | 15.5x | 1.4x |
| Tue, 13 Dec 2022 | €4.7b | €3.4b | €311.5m | 12.2x | 15.2x | 1.4x |
Price to Earnings Ratio
15.2x
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 12.6x which is higher than its 3-year average PE of 10.2x.
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 | 0.65% | |
| Industrials | 3.22% | |
| Consumer Discretionary | 0.55% | |
| Telecom | -0.05% | |
| Financials | -0.067% | |
| Consumer Staples | -0.11% | |
| Utilities | -0.36% | |
| Tech | -2.42% | |
| Real Estate | -3.44% | |
| Healthcare | -9.09% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 17.1x.
- 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 below 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| MRK1T AS Merko Ehitus | €29.60 | 6.1% +€30.1m | 51.8% | PE9.3x | Industrials | |
| TAL1T AS Tallink Grupp | €0.58 | 1.6% +€6.7m | -0.9% | PS0.6x | Industrials | |
| TSM1T AS Tallinna Sadam | €1.23 | 1.8% +€5.8m | 16.7% | PE14x | Industrials | |
| CPA1T Coop Pank | €1.95 | 2.0% +€3.9m | -2.3% | PB0.9x | Financials | |
| HAE1T AS Harju Elekter | €4.70 | 1.1% +€926.3k | 2.4% | PE14.9x | Industrials |
