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Estonia (OMX) Market Analysis & Valuation
UpdatedJul 24, 2026
DataAggregated Company Financials
Companies28
- 7D0.8%
- 3M-1.2%
- 1Y-1.9%
- YTD-1.8%
In the last week, the market has stayed flat, however the Communication Services sector stood out, gaining 13%. Similarly, the market is flat for the past 12 months. Earnings are forecast to grow by 20% 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 |
|---|---|---|---|---|---|---|
| Fri, 24 Jul 2026 | €4.7b | €5.1b | €348.9m | 12.2x | 13.4x | 0.9x |
| Sun, 21 Jun 2026 | €4.7b | €5.2b | €355.4m | 12.2x | 13.2x | 0.9x |
| Tue, 19 May 2026 | €4.7b | €5.2b | €362.8m | 12.3x | 13.1x | 0.9x |
| Thu, 16 Apr 2026 | €4.7b | €5.1b | €347.0m | 13.1x | 13.7x | 0.9x |
| Sat, 14 Mar 2026 | €4.8b | €5.1b | €344.1m | 13.2x | 13.9x | 0.9x |
| Mon, 09 Feb 2026 | €4.7b | €5.1b | €340.9m | 14.7x | 13.8x | 0.9x |
| Wed, 07 Jan 2026 | €4.7b | €5.2b | €358.4m | 14.8x | 13.1x | 0.9x |
| Fri, 05 Dec 2025 | €4.5b | €5.2b | €358.4m | 13.9x | 12.5x | 0.9x |
| Sun, 02 Nov 2025 | €4.4b | €5.2b | €410.3m | 13.3x | 10.7x | 0.8x |
| Tue, 30 Sep 2025 | €4.5b | €5.2b | €412.1m | 13.1x | 10.8x | 0.9x |
| Thu, 28 Aug 2025 | €4.7b | €5.2b | €411.9m | 14.7x | 11.4x | 0.9x |
| Sat, 26 Jul 2025 | €5.6b | €5.1b | €466.2m | 15.2x | 12.1x | 1.1x |
| Mon, 23 Jun 2025 | €5.7b | €5.2b | €488.2m | 15.2x | 11.7x | 1.1x |
| Wed, 21 May 2025 | €5.7b | €5.1b | €484.3m | 15.1x | 11.8x | 1.1x |
| Fri, 18 Apr 2025 | €5.5b | €5.1b | €583.7m | 11.8x | 9.4x | 1.1x |
| Sun, 16 Mar 2025 | €5.3b | €5.1b | €589.7m | 9.6x | 9x | 1x |
| Tue, 11 Feb 2025 | €5.3b | €5.0b | €618.3m | 10.2x | 8.6x | 1.1x |
| Thu, 09 Jan 2025 | €5.0b | €5.0b | €610.2m | 10.8x | 8.2x | 1x |
| Sat, 07 Dec 2024 | €4.9b | €5.0b | €610.2m | 11.2x | 8x | 1x |
| Mon, 04 Nov 2024 | €5.0b | €4.8b | €669.0m | 10.2x | 7.4x | 1x |
| Wed, 02 Oct 2024 | €4.8b | €4.8b | €691.2m | 9.6x | 7x | 1x |
| Fri, 30 Aug 2024 | €4.9b | €4.8b | €691.1m | 9.5x | 7.1x | 1x |
| Sun, 28 Jul 2024 | €5.0b | €4.8b | €734.3m | 11.4x | 6.8x | 1x |
| Tue, 25 Jun 2024 | €5.0b | €4.8b | €734.2m | 11x | 6.9x | 1x |
| Thu, 23 May 2024 | €5.2b | €4.8b | €738.3m | 11.4x | 7x | 1.1x |
| Sat, 20 Apr 2024 | €5.2b | €4.9b | €713.4m | 11.1x | 7.3x | 1.1x |
| Mon, 18 Mar 2024 | €5.1b | €4.9b | €715.2m | 11.2x | 7.2x | 1x |
| Wed, 14 Feb 2024 | €5.0b | €5.0b | €713.3m | 11.3x | 7x | 1x |
| Fri, 12 Jan 2024 | €5.1b | €5.0b | €709.1m | 10.2x | 7.2x | 1x |
| Sun, 10 Dec 2023 | €4.4b | €3.8b | €441.1m | 11.4x | 10x | 1.2x |
| Tue, 07 Nov 2023 | €4.5b | €3.9b | €455.2m | 10.1x | 10x | 1.2x |
| Thu, 05 Oct 2023 | €4.7b | €3.8b | €415.9m | 11.6x | 11.3x | 1.2x |
| Sat, 02 Sep 2023 | €4.6b | €3.8b | €414.9m | 11.4x | 11.1x | 1.2x |
| Mon, 31 Jul 2023 | €4.8b | €3.8b | €454.1m | 11.1x | 10.6x | 1.3x |
Price to Earnings Ratio
10.6x
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 13.4x which is higher than its 3-year average PE of 10.0x.
Past Earnings Growth
- The earnings for Estonian listed companies have declined 8.4% per year over the last three years.
- Meanwhile revenues for these companies have grown 11% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Sector Trends
Which sectors have driven the changes within the Estonia Market?
| EE Market | 0.83% | |
| Telecom | 12.82% | |
| Utilities | 5.42% | |
| Consumer Staples | 0.31% | |
| Real Estate | -0.55% | |
| Financials | -0.62% | |
| Industrials | -1.24% | |
| Consumer Discretionary | -1.72% | |
| Tech | -1.74% | |
| Healthcare | -2.50% | |
Sector PE
- Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 11.7x.
- Analysts are expecting annual earnings growth of 10.0%, which is lower than the prior year's growth of 23.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Financials sector, expecting annual earnings growth of 23% over the next 5 years.
- This is better than its past earnings decline of 9.5% per year.
- In contrast, the Industrials sector is expected to see its earnings grow by 10% 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 | |
|---|---|---|---|---|---|---|
| INF1T AS Infortar | €54.00 | 6.7% +€70.1m | 11.3% | PE12.7x | Utilities | |
| TKM1T TKM Grupp | €9.16 | 0.3% +€1.2m | -1.0% | PE19.8x | Consumer Staples | |
| NCN1T Nordecon | €0.59 | 2.8% +€504.5k | -17.2% | PS0.08x | Industrials | |
| HPR1T Hepsor | €5.52 | 1.1% +€234.8k | -16.6% | PS0.7x | Real Estate | |
| TPD1T AS Trigon Property Development | €0.61 | 4.5% +€117.0k | -10.1% | PB1.6x | Real Estate |
