Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Finnish (OMX) Market Analysis & Valuation

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies172
  • 7D-2.0%
  • 3M3.2%
  • 1Y19.7%
  • YTD0.9%

Over the last 7 days, the market has dropped 2.0%, driven by a pullback of 3.6% in the Industrials sector. On the other hand, the Energy has risen by 8.4%. In the last year, the market is actually up 20%. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026€327.1b€196.1b€15.2b18.6x21.6x1.7x
Tue, 17 Feb 2026€333.0b€196.7b€15.1b19.1x22.1x1.7x
Thu, 15 Jan 2026€331.7b€197.7b€13.4b19.8x24.7x1.7x
Sat, 13 Dec 2025€311.7b€197.3b€13.4b18.9x23.3x1.6x
Mon, 10 Nov 2025€305.4b€197.1b€13.4b18.6x22.8x1.5x
Wed, 08 Oct 2025€288.5b€196.1b€13.2b19.6x21.8x1.5x
Fri, 05 Sep 2025€283.1b€196.1b€13.2b20.1x21.4x1.4x
Sun, 03 Aug 2025€275.8b€196.2b€13.2b20.4x20.9x1.4x
Tue, 01 Jul 2025€275.5b€196.1b€13.5b20.6x20.4x1.4x
Thu, 29 May 2025€274.2b€196.1b€13.5b19.5x20.3x1.4x
Sat, 26 Apr 2025€254.0b€195.7b€13.9b19.6x18.2x1.3x
Mon, 24 Mar 2025€271.6b€195.0b€14.6b20x18.6x1.4x
Wed, 19 Feb 2025€272.1b€195.4b€14.6b19x18.6x1.4x
Fri, 17 Jan 2025€252.4b€199.2b€14.7b18x17.1x1.3x
Sun, 15 Dec 2024€249.6b€199.2b€14.7b17.7x16.9x1.3x
Tue, 12 Nov 2024€256.7b€199.6b€14.8b18.3x17.4x1.3x
Thu, 10 Oct 2024€266.5b€200.1b€14.6b18.6x18.2x1.3x
Sat, 07 Sep 2024€220.6b€188.2b€9.6b18.6x23.1x1.2x
Mon, 05 Aug 2024€215.4b€188.4b€9.9b17.9x21.8x1.1x
Wed, 03 Jul 2024€223.4b€190.7b€10.0b18.5x22.4x1.2x
Fri, 31 May 2024€228.4b€191.0b€10.0b18.2x22.9x1.2x
Sun, 28 Apr 2024€220.9b€192.4b€10.1b16.9x21.9x1.1x
Tue, 26 Mar 2024€220.8b€195.7b€10.1b17x21.8x1.1x
Thu, 22 Feb 2024€222.2b€195.1b€10.2b17.9x21.7x1.1x
Sat, 20 Jan 2024€222.7b€202.6b€12.9b18.8x17.3x1.1x
Mon, 18 Dec 2023€224.0b€202.6b€12.9b18.6x17.4x1.1x
Wed, 15 Nov 2023€220.9b€202.6b€12.9b17.9x17.1x1.1x
Fri, 13 Oct 2023€218.0b€208.3b€12.8b18.3x17x1x
Sun, 10 Sep 2023€223.6b€209.1b€12.8b18.9x17.4x1.1x
Tue, 08 Aug 2023€222.4b€208.4b€13.3b18.7x16.7x1.1x
Thu, 06 Jul 2023€231.1b€210.8b€17.3b18.6x13.4x1.1x
Sat, 03 Jun 2023€239.7b€210.8b€17.3b18.8x13.9x1.1x
Mon, 01 May 2023€248.7b€210.8b€17.1b19.2x14.5x1.2x
Wed, 29 Mar 2023€244.1b€208.7b€16.9b18.6x14.5x1.2x
Price to Earnings Ratio

14.5x


Total Market Cap: €244.1bTotal Earnings: €16.9bTotal Revenue: €208.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Market Price to Earnings3Y Average 19.6x202420252026
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 21.6x which is higher than its 3-year average PE of 19.6x.
Past Earnings Growth
  • The earnings for companies in the Finnish industry have declined 3.5% per year over the last three years.
  • Revenues have also declined 2.0% 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-1.98%
Energy8.38%
Utilities3.52%
Healthcare-0.80%
Financials-1.79%
Consumer Discretionary-2.97%
Real Estate-3.05%
Tech-3.52%
Industrials-3.56%
Telecom-3.72%
Materials-4.71%
Consumer Staples-4.76%
Sector PE
  • Investors favour the Energy sector the most for future growth which is trading above its 3-year average PE ratio.
    • This is likely because analysts are expecting annual earnings growth of 27.8% and investors are willing to pay a premium for that growth.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 16.6x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings decline of 1.9% per year.
  • In contrast, the Financials industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NESTE Neste Oyj€29.488.4%
+€1.8b		217.3%PE157.3xEnergy
FORTUM Fortum Oyj€21.753.5%
+€664.0m		42.9%PE25.5xUtilities
BITTI Bittium Oyj€34.504.2%
+€49.7m		305.9%PE57.5xTech
CTY1S Citycon Oyj€3.996.0%
+€41.5m		22.5%PE13.7xReal Estate
GRK GRK Infra Oyj€13.104.6%
+€23.5m		n/aPE12.5xIndustrials
See more

Market Insights

Header cover image
How to invest during crisis in the Persian Gulf
Richard Bowman avatar
Richard Bowman
It’s now been three weeks since the U.S. and Israel launched air strikes against Iran, plunging the Persian Gulf into war. We aren’t going to pretend we know what happens next. But we can map out a few scenarios, and the potential impact on the global economy and markets.
Continue reading
Why international stocks are starting to outpace the U.S.

Latest News

NESTE
€29.48
Neste Oyj
7D
8.4%
1Y
217.3%
KESKOB
€19.01
Kesko Oyj
7D
-5.2%
1Y
-0.4%
WRT1V
€31.17
Wärtsilä Oyj Abp
7D
-2.1%
1Y
65.4%

WRT1V: Elevated P/E And Power Euphoria Will Likely Restrain Future Returns

The analyst fair value estimate for Wärtsilä Oyj Abp has been adjusted from €28.74 to €30.04, reflecting updated assumptions on growth, margins, and P/E multiples as analysts weigh recent price target changes and mixed rating actions across the Street. Analyst Commentary Recent Street research on Wärtsilä Oyj Abp reflects a split view on the balance between growth potential and current valuation, with multiple price target adjustments in both directions and several rating changes.
STERV
€9.58
Stora Enso Oyj
7D
-6.8%
1Y
2.8%

STERV: Refined Assumptions And Rising Street Views Will Support Future Repricing

Analysts have slightly adjusted the fair value estimate for Stora Enso Oyj from €13.71 to €13.69, reflecting modest tweaks to discount rate, growth and margin assumptions, alongside a series of recent price target increases that now cluster around €10.90 to €12.20. Analyst Commentary Recent Street research points to a cluster of price targets between €10.90 and €12.20, which sits below the revised fair value estimate of €13.69 but reflects a more constructive stance from several firms.
NDA FI
€15.33
Nordea Bank Abp
7D
-2.0%
1Y
28.3%
KNEBV
€54.56
KONE Oyj
7D
-2.3%
1Y
2.5%

KNEBV: Elevated P/E Will Face Pressure If Margin Improvement Disappoints

Analysts have nudged their price target for KONE Oyj slightly higher to €57, up from €56. The change reflects modest tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E, supported by a mix of recent rating upgrades and fresh coverage across the Street.
CTY1S
€3.99
Citycon Oyj
7D
6.0%
1Y
22.5%
BITTI
€34.50
Bittium Oyj
7D
4.2%
1Y
305.9%
NOKIA
€6.92
Nokia Oyj
7D
-4.0%
1Y
40.2%

NOKIA: AI Network Partnerships Will Face Rating Pressure And Limited Upside

Narrative update on Nokia Oyj Analysts have lifted the updated fair value estimate for Nokia to €6.21 from €5.43, supported by a higher assumed future P/E of about 24x and a series of recent price target hikes to around €6.50 to €8.50, even as some firms have shifted ratings toward more neutral stances. Analyst Commentary Recent research on Nokia presents a mixed picture, with several firms lifting price targets while others shift to more neutral stances.
UPM
€25.17
UPM-Kymmene Oyj
7D
-3.8%
1Y
-5.0%
OLVAS
€34.60
Olvi Oyj
7D
2.2%
1Y
-5.1%
METSO
€14.04
Metso Oyj
7D
-9.2%
1Y
28.5%

METSO: Higher Fair Value Will Rely On Sustained Execution And Margin Delivery

Analysts have nudged their fair value estimate for Metso Oyj higher to about €17.22 from roughly €17.04, citing refreshed Street price targets in the €16.50 to €18 range and updated assumptions around the discount rate, revenue growth, margins and future P/E. Analyst Commentary Recent Street research around Metso Oyj clusters in a relatively tight price target band, with several firms lifting their targets into the mid to high teens.
GRK
€13.10
GRK Infra Oyj
7D
4.6%
1Y
n/a
REG1V
€18.18
Revenio Group Oyj
7D
3.1%
1Y
-27.2%

REG1V: Refined Discount Assumptions And Upgrades Will Drive Future Upside Repricing

Analysts have trimmed their price target for Revenio Group Oyj to €23.50 from €23.97, noting slightly lower assumed revenue growth and P/E multiples. This is partly balanced by marginally higher profit margin expectations and a small adjustment to the discount rate.
MUSTI
€17.78
Musti Group Oyj
7D
1.0%
1Y
-12.2%
FORTUM
€21.75
Fortum Oyj
7D
3.5%
1Y
42.9%

Fortum Oyj (HEL:FORTUM) Is Paying Out Less In Dividends Than Last Year

Feb 06
Fortum Oyj (HEL:FORTUM) Is Paying Out Less In Dividends Than Last Year