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Finnish (OMX) Market Analysis & Valuation

UpdatedMar 08, 2026
DataAggregated Company Financials
Companies172
  • 7D-3.1%
  • 3M6.0%
  • 1Y19.6%
  • YTD2.2%

Over the last 7 days, the market has dropped 3.1%, driven by a loss of 8.7% in the Industrials sector. In contrast, the Energy sector has actually gained 18%. 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
Mon, 09 Mar 2026€331.4b€196.2b€15.2b19.1x21.9x1.7x
Wed, 04 Feb 2026€334.3b€197.8b€13.2b19.8x25.3x1.7x
Fri, 02 Jan 2026€322.9b€197.3b€13.4b19.4x24.1x1.6x
Sun, 30 Nov 2025€307.3b€197.1b€13.4b18.8x23x1.6x
Tue, 28 Oct 2025€307.6b€198.1b€13.2b20x23.3x1.6x
Thu, 25 Sep 2025€287.5b€196.1b€13.2b20.3x21.8x1.5x
Sat, 23 Aug 2025€287.4b€196.1b€13.2b20.5x21.7x1.5x
Mon, 21 Jul 2025€277.7b€196.5b€13.5b20.7x20.6x1.4x
Wed, 18 Jun 2025€273.0b€196.1b€13.5b20.2x20.2x1.4x
Fri, 16 May 2025€273.3b€196.1b€13.5b19.5x20.2x1.4x
Sun, 13 Apr 2025€240.8b€194.9b€14.6b18.8x16.5x1.2x
Tue, 11 Mar 2025€275.8b€195.4b€14.6b20.2x18.9x1.4x
Thu, 06 Feb 2025€258.6b€198.9b€15.5b18.5x16.7x1.3x
Sat, 04 Jan 2025€251.2b€199.2b€14.7b18.1x17x1.3x
Mon, 02 Dec 2024€249.6b€199.9b€14.7b17.6x17x1.2x
Wed, 30 Oct 2024€262.9b€199.8b€14.6b18.1x18x1.3x
Fri, 27 Sep 2024€233.6b€188.3b€9.6b18.5x24.4x1.2x
Sun, 25 Aug 2024€226.0b€188.2b€9.5b18.6x23.7x1.2x
Tue, 23 Jul 2024€219.9b€189.5b€10.2b18x21.6x1.2x
Thu, 20 Jun 2024€222.3b€191.0b€10.0b18.8x22.3x1.2x
Sat, 18 May 2024€231.7b€190.8b€10.0b18.5x23.1x1.2x
Mon, 15 Apr 2024€223.2b€195.5b€10.2b17.7x21.9x1.1x
Wed, 13 Mar 2024€220.1b€195.0b€10.2b17.2x21.7x1.1x
Fri, 09 Feb 2024€222.4b€195.9b€9.3b18.5x24x1.1x
Sun, 07 Jan 2024€231.2b€202.7b€12.9b19x18x1.1x
Tue, 05 Dec 2023€221.6b€202.6b€12.9b18.3x17.2x1.1x
Thu, 02 Nov 2023€209.2b€203.8b€11.6b17.3x18x1x
Sat, 30 Sep 2023€218.4b€208.3b€12.8b18.7x17x1x
Mon, 28 Aug 2023€219.4b€209.1b€12.9b18.9x17.1x1x
Wed, 26 Jul 2023€232.0b€210.5b€17.1b18.5x13.6x1.1x
Fri, 23 Jun 2023€228.3b€210.8b€17.3b18.7x13.2x1.1x
Sun, 21 May 2023€242.3b€210.7b€17.3b19.6x14x1.1x
Tue, 18 Apr 2023€252.9b€208.8b€16.9b20.1x15x1.2x
Thu, 16 Mar 2023€242.9b€208.9b€16.9b19.2x14.4x1.2x
Price to Earnings Ratio

14.4x


Total Market Cap: €242.9bTotal Earnings: €16.9bTotal Revenue: €208.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Market Price to Earnings3Y Average 19.5x202420252026
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 21.9x which is higher than its 3-year average PE of 19.5x.
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 2.1% 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-3.09%
Energy18.32%
Tech2.58%
Utilities-0.35%
Telecom-0.48%
Healthcare-0.48%
Consumer Staples-3.12%
Consumer Discretionary-3.67%
Financials-4.21%
Real Estate-4.22%
Materials-5.01%
Industrials-8.71%
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 30.4% 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 34% 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€25.0618.3%
+€3.0b		178.9%PE133.7xEnergy
NOKIA Nokia Oyj€6.703.4%
+€1.2b		39.5%PE59.7xTech
ELISA Elisa Oyj€44.081.5%
+€102.8m		-3.4%PE20.7xTelecom
BITTI Bittium Oyj€27.854.3%
+€40.8m		241.3%PE46.4xTech
SCANFL Scanfil Oyj€12.043.4%
+€26.2m		34.5%PE19.3xTech
See more

Market Insights

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Latest News

NESTE
€25.06
Neste Oyj
7D
18.3%
1Y
178.9%

Slower Renewable Mandates And Costly Refinery Delays Will Pressure Long Term Outlook

Catalysts About Neste Oyj Neste Oyj produces renewable fuels and oil products for transport and aviation customers. What are the underlying business or industry changes driving this perspective?
BITTI
€27.85
Bittium Oyj
7D
4.3%
1Y
241.3%

BITTI: Defence Contracts And Guidance Will Support But Not Fully Justify High P/E

Analysts have kept their €31.73 price target for Bittium Oyj unchanged. They cite largely stable assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their view.
KCR
€93.05
Konecranes
7D
-7.2%
1Y
33.6%

KCR: Ecolifting Orders And Margin Outlook Will Support A Balanced Fair View

Analysts have lifted their price target on Konecranes from €60 to €96, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E that together point to a higher assessed fair value for the shares. What's in the News Konecranes launches the Generation 6 Gottwald Mobile Harbor Crane ESP.4, a smaller electric, smart and high-capacity model aimed at multi purpose handling in smaller ports, with configurations that support Ecolifting and lower tailpipe emissions (Product related announcement).
METSO
€16.09
Metso Oyj
7D
-9.2%
1Y
46.7%
WRT1V
€33.08
Wärtsilä Oyj Abp
7D
-10.4%
1Y
85.8%
ELISA
€44.08
Elisa Oyj
7D
1.5%
1Y
-3.4%
KNEBV
€57.90
KONE Oyj
7D
-9.6%
1Y
7.0%
SAMPO
€9.14
Sampo Oyj
7D
-2.7%
1Y
7.0%

SAMPO: Share Buybacks And Higher Dividend Will Support Future Returns

Analysts have kept their price target for Sampo Oyj essentially unchanged at about €10.54, reflecting a view that the current assumptions on discount rate, revenue growth and future P/E remain broadly consistent with their prior assessment. What's in the News Sampo Oyj reported that from October 1, 2025 to December 31, 2025 it repurchased 8,900,000 shares for €88.4 million, representing 0.33% of shares, as part of its ongoing share buyback (Key Developments).
STERV
€10.66
Stora Enso Oyj
7D
-7.4%
1Y
2.1%

STERV: Higher Bank Price Views And Fair Value Assumptions Will Shape Returns

Analysts have lifted their fair value estimate for Stora Enso Oyj from €7.99 to €9.80, reflecting a series of higher price targets from major banks and updated assumptions around the discount rate, long-term revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent Street research on Stora Enso Oyj shows a cluster of price target revisions, with large banks such as JPMorgan and Morgan Stanley updating their views while maintaining broadly neutral stances on the shares.
SCANFL
€12.04
Scanfil Oyj
7D
3.4%
1Y
34.5%

SCANFL: Fair Value View Will Reflect 2026 Turnover Range And Dividend Outlook

Narrative Update on Scanfil Oyj Analysts now set their price target for Scanfil Oyj at €11.25, up from €10.48. The revised view is linked to updated assumptions around revenue growth, profit margins, discount rate and future P/E levels.
TIETO
€19.11
TietoEVRY Oyj
7D
0.7%
1Y
-2.5%

TIETO: Share Buybacks And Delistings Will Restrict Future Share Returns

Analysts have adjusted their price target for TietoEVRY Oyj to €16.70 from €16.00, reflecting updated views on discount rates, revenue growth assumptions, profit margins, and future P/E expectations. What's in the News The Board has proposed delisting the company’s shares from the Oslo Stock Exchange and is evaluating whether to also delist from Nasdaq Stockholm, while keeping the primary listing on Nasdaq Helsinki where most trading currently occurs (Delistings).
NOKIA
€6.70
Nokia Oyj
7D
3.4%
1Y
39.5%

NOKIA: AI And Cloud Partnerships Will Support Steady Long Term Earnings

The analyst price target for Nokia has shifted modestly to €6.50. This reflects a mix of recent upgrades, a downgrade to Hold and slightly adjusted assumptions for revenue growth, profit margin and future P/E that leave fair value broadly unchanged.
TTALO
€9.51
Terveystalo Oyj
7D
2.0%
1Y
-16.6%
NDA FI
€15.61
Nordea Bank Abp
7D
-5.1%
1Y
18.0%

NDA FI: Fair Outlook Will Weigh Dividend Flexibility Against Arctic Financing Constraints

Analysts have nudged their price target on Nordea Bank Abp to €17.35, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E ratio, which together support a broadly steady valuation framework. What's in the News A shareholder proposal has been submitted to amend Nordea Bank Abp's Articles of Association in order to restrict financing and facilitation services for new long lead time upstream oil and gas projects located north of the Arctic Circle.
UPM
€26.41
UPM-Kymmene Oyj
7D
-2.1%
1Y
-7.4%

UPM: Future Returns Will Reflect Fine Tuned Assumptions And Capacity Actions

Narrative Update Analysts have trimmed their price target on UPM-Kymmene Oyj by about €0.10, reflecting slightly adjusted assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E after recent research updates such as the €0.30 target cut cited by JPMorgan. Analyst Commentary Recent research, including the €0.30 target cut at JPMorgan, points to a modest recalibration rather than a wholesale shift in how the market views UPM-Kymmene Oyj.
MUSTI
€18.06
Musti Group Oyj
7D
1.2%
1Y
-11.5%