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Spanish (IBEX) Market Analysis & Valuation

UpdatedNov 15, 2025
DataAggregated Company Financials
Companies242
  • 7D0.9%
  • 3M6.3%
  • 1Y32.7%
  • YTD32.8%

In the last week, the market has stayed flat, however the Energy sector stood out, gaining 3.4%. Meanwhile, the market is actually up 33% over the past year. Looking forward, earnings are forecast to grow by 6.5% annually.

Trending IndustriesRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 17 Nov 2025€1.0t€596.2b€65.8b17x15.8x1.7x
Wed, 15 Oct 2025€996.1b€593.1b€65.7b17.7x15.2x1.7x
Fri, 12 Sep 2025€982.5b€593.0b€65.8b18.5x14.9x1.7x
Sun, 10 Aug 2025€952.6b€592.8b€65.7b18.5x14.5x1.6x
Tue, 08 Jul 2025€910.5b€588.9b€64.7b18.6x14.1x1.5x
Thu, 05 Jun 2025€920.0b€589.1b€64.7b19.3x14.2x1.6x
Sat, 03 May 2025€885.1b€583.8b€63.2b18.8x14x1.5x
Mon, 31 Mar 2025€874.6b€581.2b€62.8b18.8x13.9x1.5x
Wed, 26 Feb 2025€866.3b€576.0b€58.5b19.5x14.8x1.5x
Fri, 24 Jan 2025€795.4b€573.7b€57.4b18.9x13.9x1.4x
Sun, 22 Dec 2024€771.3b€573.6b€57.2b19x13.5x1.3x
Tue, 19 Nov 2024€788.4b€576.3b€58.4b19.3x13.5x1.4x
Thu, 17 Oct 2024€814.6b€571.8b€56.0b19x14.5x1.4x
Sat, 14 Sep 2024€784.3b€571.7b€56.0b19.5x14x1.4x
Mon, 12 Aug 2024€728.8b€570.8b€56.0b18.9x13x1.3x
Wed, 10 Jul 2024€744.9b€564.8b€53.6b17.5x13.9x1.3x
Fri, 07 Jun 2024€779.8b€563.9b€53.3b17.6x14.6x1.4x
Sun, 05 May 2024€737.7b€564.1b€53.2b16.2x13.9x1.3x
Tue, 02 Apr 2024€736.1b€559.9b€50.6b16.4x14.6x1.3x
Thu, 29 Feb 2024€678.4b€558.1b€51.7b15.2x13.1x1.2x
Sat, 27 Jan 2024€677.2b€557.6b€53.9b15x12.6x1.2x
Mon, 25 Dec 2023€690.1b€557.5b€54.0b15.3x12.8x1.2x
Wed, 22 Nov 2023€670.8b€560.2b€53.5b15.1x12.5x1.2x
Fri, 20 Oct 2023€631.0b€570.6b€51.4b14.5x12.3x1.1x
Sun, 17 Sep 2023€657.9b€569.4b€51.2b14.9x12.9x1.2x
Tue, 15 Aug 2023€644.5b€569.3b€51.2b15.4x12.6x1.1x
Thu, 13 Jul 2023€651.7b€577.5b€50.9b17.2x12.8x1.1x
Sat, 10 Jun 2023€643.8b€577.0b€51.0b17.3x12.6x1.1x
Mon, 08 May 2023€634.2b€564.9b€50.4b18.1x12.6x1.1x
Wed, 05 Apr 2023€636.5b€561.1b€49.8b17x12.8x1.1x
Fri, 03 Mar 2023€641.3b€556.5b€51.4b17.1x12.5x1.2x
Sun, 29 Jan 2023€619.8b€522.8b€42.5b17.6x14.6x1.2x
Tue, 27 Dec 2022€570.9b€522.8b€42.5b16.9x13.4x1.1x
Thu, 24 Nov 2022€576.1b€521.2b€43.8b17.2x13.1x1.1x
Price to Earnings Ratio

13.1x


Total Market Cap: €576.1bTotal Earnings: €43.8bTotal Revenue: €521.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Spanish Market Price to Earnings3Y Average 13.6x202320242025
Current Market PE
  • Investors are optimistic on the Spanish market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 15.8x which is higher than its 3-year average PE of 13.6x.
Past Earnings Growth
  • The earnings for Spanish listed companies have grown 15% per year over the last three years.
  • Revenues for these companies have grown 4.6% 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 Spanish Market?

ES Market0.87%
Energy3.42%
Tech3.13%
Healthcare2.10%
Consumer Staples1.74%
Industrials1.35%
Utilities1.01%
Financials0.76%
Consumer Discretionary0.64%
Telecom0.27%
Materials-0.016%
Real Estate-1.73%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 21.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 14.6%, which is higher than its past year's earnings growth of 1.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 61% over the next 5 years.
  • This is better than its past earnings decline of 36% per year.
  • In contrast, the Industrials sector is expected to see its earnings decline by 9.1% 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
IBE Iberdrola€18.153.0%
+€3.4b		36.1%PE22.4xUtilities
TEF Telefónica€3.733.8%
+€772.4m		-12.9%PS0.5xTelecom
NTGY Naturgy Energy Group€27.542.8%
+€710.9m		22.0%PE13.3xUtilities
AENA Aena S.M.E€22.861.8%
+€615.0m		15.5%PE16.6xIndustrials
REP Repsol€16.942.9%
+€547.3m		41.9%PE17.7xEnergy
See more

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€32.13
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