Narrative Update • Jul 27
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Finnish (OMX) Market Analysis & Valuation
UpdatedAug 01, 2026
DataAggregated Company Financials
Companies175
- 7D-0.1%
- 3M-3.0%
- 1Y23.7%
- YTD4.6%
The Healthcare sector gained 3.4% while the market remained flat over the last week. Meanwhile, the market is actually up 24% over the past year. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 02 Aug 2026 | €345.4b | €200.0b | €16.7b | 18.5x | 20.7x | 1.7x |
| Tue, 30 Jun 2026 | €349.2b | €197.0b | €15.6b | 18.3x | 22.4x | 1.8x |
| Thu, 28 May 2026 | €372.6b | €196.7b | €15.6b | 19.2x | 23.9x | 1.9x |
| Sat, 25 Apr 2026 | €346.6b | €196.6b | €15.4b | 18.8x | 22.6x | 1.8x |
| Mon, 23 Mar 2026 | €327.1b | €196.2b | €15.2b | 18.6x | 21.6x | 1.7x |
| Wed, 18 Feb 2026 | €335.1b | €196.7b | €15.1b | 19.2x | 22.2x | 1.7x |
| Fri, 16 Jan 2026 | €335.3b | €197.7b | €13.4b | 20.1x | 25x | 1.7x |
| Sun, 14 Dec 2025 | €311.6b | €197.3b | €13.4b | 18.9x | 23.3x | 1.6x |
| Tue, 11 Nov 2025 | €307.1b | €197.1b | €13.4b | 18.9x | 23x | 1.6x |
| Thu, 09 Oct 2025 | €289.1b | €196.1b | €13.2b | 19.7x | 21.8x | 1.5x |
| Sat, 06 Sep 2025 | €285.2b | €196.1b | €13.2b | 20.2x | 21.6x | 1.5x |
| Mon, 04 Aug 2025 | €275.8b | €196.2b | €13.2b | 20.4x | 20.9x | 1.4x |
| Wed, 02 Jul 2025 | €275.5b | €196.1b | €13.5b | 20.6x | 20.4x | 1.4x |
| Fri, 30 May 2025 | €274.2b | €196.1b | €13.5b | 19.5x | 20.3x | 1.4x |
| Sun, 27 Apr 2025 | €254.0b | €196.2b | €14.0b | 19.2x | 18.1x | 1.3x |
| Tue, 25 Mar 2025 | €270.9b | €195.0b | €14.6b | 19.8x | 18.5x | 1.4x |
| Thu, 20 Feb 2025 | €272.1b | €195.4b | €14.6b | 19x | 18.6x | 1.4x |
| Sat, 18 Jan 2025 | €254.9b | €199.2b | €14.7b | 18.1x | 17.3x | 1.3x |
| Mon, 16 Dec 2024 | €249.6b | €199.2b | €14.7b | 17.7x | 16.9x | 1.3x |
| Wed, 13 Nov 2024 | €251.3b | €199.8b | €14.8b | 18.3x | 17x | 1.3x |
| Fri, 11 Oct 2024 | €265.2b | €200.0b | €14.6b | 18.5x | 18.1x | 1.3x |
| Sun, 08 Sep 2024 | €220.6b | €188.2b | €9.6b | 18.6x | 23.1x | 1.2x |
| Tue, 06 Aug 2024 | €209.9b | €188.4b | €9.9b | 17.7x | 21.2x | 1.1x |
| Thu, 04 Jul 2024 | €222.0b | €188.2b | €9.9b | 18.5x | 22.3x | 1.2x |
| Sat, 01 Jun 2024 | €228.7b | €191.0b | €10.0b | 18.6x | 22.9x | 1.2x |
| Mon, 29 Apr 2024 | €220.9b | €192.4b | €10.1b | 16.9x | 21.9x | 1.1x |
| Wed, 27 Mar 2024 | €221.0b | €195.7b | €10.1b | 16.9x | 21.8x | 1.1x |
| Fri, 23 Feb 2024 | €221.8b | €195.1b | €10.2b | 18x | 21.7x | 1.1x |
| Sun, 21 Jan 2024 | €222.7b | €202.6b | €12.9b | 18.8x | 17.3x | 1.1x |
| Tue, 19 Dec 2023 | €224.0b | €202.7b | €12.9b | 18.7x | 17.4x | 1.1x |
| Thu, 16 Nov 2023 | €221.5b | €202.6b | €12.9b | 17.8x | 17.2x | 1.1x |
| Sat, 14 Oct 2023 | €216.3b | €208.3b | €12.8b | 18.2x | 16.8x | 1x |
| Mon, 11 Sep 2023 | €223.6b | €209.1b | €12.8b | 18.9x | 17.4x | 1.1x |
| Wed, 09 Aug 2023 | €221.3b | €208.4b | €13.3b | 18.8x | 16.6x | 1.1x |
Price to Earnings Ratio
16.6x
Current Market PE
- Investors are relatively neutral on the Finnish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 20.6x.
Past Earnings Growth
- The earnings for Finnish listed companies have grown 7.8% per year over the last three years, while revenues have remained steady.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Sector Trends
Which sectors have driven the changes within the Finnish Market?
| FI Market | -0.13% | |
| Healthcare | 3.39% | |
| Materials | 3.13% | |
| Real Estate | 2.34% | |
| Consumer Staples | 2.30% | |
| Telecom | 1.39% | |
| Consumer Discretionary | 1.30% | |
| Financials | 1.13% | |
| Industrials | -0.57% | |
| Tech | -2.71% | |
| Energy | -2.77% | |
| Utilities | -3.78% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth even though it's trading below its 3-year average PE ratio of 151x.
- Analysts are expecting annual earnings growth of 32.3%, which is lower than the prior year's growth of 39.6% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 15.9x.
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 Energy 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| NDA FI Nordea Bank Abp | €17.50 | 1.3% +€763.1m | 38.6% | PB1.9x | Financials | |
| KNEBV KONE Oyj | €50.10 | 2.5% +€621.9m | -5.8% | PE27.5x | Industrials | |
| UPM UPM-Kymmene Oyj | €23.52 | 4.7% +€559.0m | 4.5% | PE19.9x | Materials | |
| STERV Stora Enso Oyj | €9.94 | 5.9% +€440.0m | 10.4% | PE13.6x | Materials | |
| ORNBV Orion Oyj | €81.10 | 3.4% +€373.3m | 15.4% | PE19.5x | Healthcare |
