Finnish (OMX) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 16 Jun 2026	€359.4b	€196.8b	€15.6b	18.4x	23.1x	1.8x
Thu, 14 May 2026	€353.7b	€196.6b	€15.5b	17.9x	22.8x	1.8x
Sat, 11 Apr 2026	€344.6b	€196.3b	€15.2b	19.6x	22.7x	1.8x
Mon, 09 Mar 2026	€331.4b	€196.2b	€15.2b	19.1x	21.9x	1.7x
Wed, 04 Feb 2026	€334.3b	€197.8b	€13.2b	19.8x	25.3x	1.7x
Fri, 02 Jan 2026	€322.9b	€197.3b	€13.4b	19.4x	24.1x	1.6x
Sun, 30 Nov 2025	€307.3b	€197.1b	€13.4b	18.8x	23x	1.6x
Tue, 28 Oct 2025	€307.6b	€198.1b	€13.2b	20x	23.3x	1.6x
Thu, 25 Sep 2025	€287.5b	€196.1b	€13.2b	20.3x	21.8x	1.5x
Sat, 23 Aug 2025	€287.4b	€196.1b	€13.2b	20.5x	21.7x	1.5x
Mon, 21 Jul 2025	€277.7b	€196.5b	€13.5b	20.7x	20.6x	1.4x
Wed, 18 Jun 2025	€273.0b	€196.1b	€13.5b	20.2x	20.2x	1.4x
Fri, 16 May 2025	€273.3b	€196.1b	€13.5b	19.5x	20.2x	1.4x
Sun, 13 Apr 2025	€240.8b	€194.9b	€14.6b	18.8x	16.5x	1.2x
Tue, 11 Mar 2025	€275.8b	€195.4b	€14.6b	20.2x	18.9x	1.4x
Thu, 06 Feb 2025	€258.6b	€198.9b	€15.5b	18.5x	16.7x	1.3x
Sat, 04 Jan 2025	€251.2b	€199.2b	€14.7b	18.1x	17x	1.3x
Mon, 02 Dec 2024	€249.6b	€199.9b	€14.7b	17.6x	17x	1.2x
Wed, 30 Oct 2024	€262.9b	€199.8b	€14.6b	18.1x	18x	1.3x
Fri, 27 Sep 2024	€233.6b	€188.3b	€9.6b	18.5x	24.4x	1.2x
Sun, 25 Aug 2024	€226.0b	€188.2b	€9.5b	18.6x	23.7x	1.2x
Tue, 23 Jul 2024	€219.9b	€189.5b	€10.2b	18x	21.6x	1.2x
Thu, 20 Jun 2024	€222.3b	€191.0b	€10.0b	18.8x	22.3x	1.2x
Sat, 18 May 2024	€231.7b	€190.8b	€10.0b	18.5x	23.1x	1.2x
Mon, 15 Apr 2024	€223.2b	€195.5b	€10.2b	17.7x	21.9x	1.1x
Wed, 13 Mar 2024	€220.1b	€195.0b	€10.2b	17.2x	21.7x	1.1x
Fri, 09 Feb 2024	€222.4b	€195.9b	€9.3b	18.5x	24x	1.1x
Sun, 07 Jan 2024	€231.2b	€202.7b	€12.9b	19x	18x	1.1x
Tue, 05 Dec 2023	€221.6b	€202.6b	€12.9b	18.3x	17.2x	1.1x
Thu, 02 Nov 2023	€209.2b	€203.8b	€11.6b	17.3x	18x	1x
Sat, 30 Sep 2023	€218.4b	€208.3b	€12.8b	18.7x	17x	1x
Mon, 28 Aug 2023	€219.4b	€209.1b	€12.9b	18.9x	17.1x	1x
Wed, 26 Jul 2023	€232.0b	€210.5b	€17.1b	18.5x	13.6x	1.1x
Fri, 23 Jun 2023	€228.3b	€210.8b	€17.3b	18.7x	13.2x	1.1x

Current Market PE

Investors are optimistic on the Finnish market, and appear confident in strong long term growth rates.

The market is trading at a PE ratio of 23.2x which is higher than its 3-year average PE of 20.2x.

Past Earnings Growth

The earnings for companies in the Finnish industry have declined 3.4% per year over the last three years.
Revenues have also declined 2.3% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Finnish Market?


FI Market	-1.76%
Consumer Discretionary	5.27%
Financials	2.52%
Real Estate	1.59%
Telecom	-0.063%
Materials	-1.98%
Tech	-2.71%
Industrials	-3.09%
Healthcare	-3.65%
Utilities	-3.83%
Consumer Staples	-5.03%
Energy	-8.52%

Sector PE

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 27.4x.

The market's confidence is likely because analysts are expecting annual earnings growth of 24.8% which is higher than its past year's earnings decline of 7.3% per year.

The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 16.1x.

Forecasted Growth

Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 43% over the next 5 years.
This is better than its past earnings decline of 37% per year.

In contrast, the Utilities sector is expected to see its earnings grow by 3.2% 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
NDA FI Nordea Bank Abp	€16.51	2.9% +€1.6b	31.0%	PB1.9x	Financials
SAMPO Sampo Oyj	€9.08	2.2% +€525.6m	-0.8%	PE14.5x	Financials
PUUILO Puuilo Oyj	€17.06	21.3% +€252.3m	29.4%	PE25.6x	Consumer Discretionary
FIA1S Finnair Oyj	€4.94	18.8% +€159.8m	77.6%	PE16.9x	Industrials
TYRES Nokian Renkaat Oyj	€12.20	8.4% +€131.0m	97.1%	PE2804.5x	Consumer Discretionary

Company

Last Price

Valuation

Sector

NDA FI Nordea Bank Abp

€16.51

2.9%
+€1.6b

31.0%

PB1.9x

Financials

SAMPO Sampo Oyj

€9.08

2.2%
+€525.6m

-0.8%

PE14.5x

Financials

PUUILO Puuilo Oyj

€17.06

21.3%
+€252.3m

29.4%

PE25.6x

Consumer Discretionary

FIA1S Finnair Oyj

€4.94

18.8%
+€159.8m

77.6%

PE16.9x

Industrials

TYRES Nokian Renkaat Oyj

€12.20

8.4%
+€131.0m

97.1%

PE2804.5x

Consumer Discretionary

Orion Pharma Announces First Results From Phase 1/2 TEADES Trial With TEAD Inhibitor ODM-212 In Patients With Advanced Solid Tumours

Orion Pharma announced first Phase 1 results from the ongoing Phase 1/2 multi-site, open-label, first-in-human TEADES trial evaluating the safety, tolerability and preliminary efficacy of ODM-212, a small molecule oral pan-TEAD inhibitor in patients with advanced solid tumours. According to the results, ODM-212 was well tolerated. Dose limiting toxicities (DLT) were not reported and the maximum tolerated dose (MTD) was not reached. The most frequent treatment-related adverse event (TRAE) was proteinuria (19.7%), which was reversible and resulted in treatment adjustment in 7.9% of patients. Other common TRAE’s were increased lipase (15.8%) and nausea (10.5%). Treatment responses by RECIST 1.1 were observed across multiple doses (overall response rate1, ORR 15.6%), predominantly in patients with mesothelioma (ORR 27.8%, disease control rate2, DCR 77.8%) and EHE (ORR 22.2%, DCR 100%). The new data were presented during the 2026 American Society of Clinical Oncology Annual Meeting, taking place in Chicago, IL, United States, from May 29-June 2, 2026. Phase 2 of the TEADES trial is ongoing. The trial will enroll up to 300 patients with malignant pleural mesothelioma (MPM), EHE or other solid tumours with dysfunction in Hippo pathway, and who have progressed despite available standard treatments and with limited further treatment options. Another ongoing Phase 1/2 trial TEADCO is evaluating ODM-212 in combination with standard of care treatments in advanced mesothelioma, KRAS G12C mutated non-small cell lung cancer (NSCLC) and pancreatic cancer. The TEADES trial is a Phase 1/2 multi-center, open-label study that will enroll up to 300 patients with MPM, EHE or other solid tumours with dysfunction in Hippo pathway. The trial will include patients who have progressed despite available standard treatments and with limited further treatment options. The primary endpoints of the study are safety and tolerability with secondary endpoints including Overall Response Rate, Progression Free Survival and Overall Survival. This is a global trial conducted at oncology centers in the US and Europe. ODM-212 is an oral small-molecule pan-TEAD (Transcriptional Enhanced Associate Domain) inhibitor developed by Orion Pharma. It targets the Hippo signaling pathway, which regulates cell growth and organ size. Dysregulation of this pathway—particularly through YAP/TAZ activation—can lead to uncontrolled tumour growth and resistance to cancer therapies. ODM-212 works by blocking TEAD transcription factors, disrupting YAP-TEAD protein-protein interactions, and inhibiting TEAD auto-palmitoylation, which is essential for TEAD activity.

Finnish (OMX) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

Software stocks just gave investors a masterclass

Latest News

Director recently sold €6.2m worth of stock

Fortum Corporation Announces Nomination Board Changes

Investor sentiment improves as stock rises 19%

Kesko Oyj, Annual General Meeting, Mar 23, 2027

Nokia Introduces Agentic Ai Framework in Network Services Platform to Enable Trust-Based Ai Operations for Ip Networks

Neste Corporation Announces Board Changes

New minor risk - Share price stability

Sampo Announces €350 Million Share Buyback and Upgraded 2026 Underwriting Outlook

HUH1V: Future Upside Will Depend On Dividend Support Despite Recent Downgrades

LUMO: JPMorgan Upgrade And 2026 Guidance Will Support A Bullish Turn

UPM: Future Returns Will Hinge On 2026 Cost Actions And Paper JV Execution

KNEBV: Elevated P/E Will Face Pressure From TK Elevator Deal Execution Risk

Orion Pharma Announces First Results From Phase 1/2 TEADES Trial With TEAD Inhibitor ODM-212 In Patients With Advanced Solid Tumours

NDA FI: Stablecoin Initiative And Dividend Policy Will Shape Balanced Outlook

Now 20% undervalued

Future Margin Targets And Mix Shift Will Likely Limit Long Term Upside