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Finnish (OMX) Market Analysis & Valuation

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies172
  • 7D0.3%
  • 3M11.0%
  • 1Y25.2%
  • YTD5.5%

The market has been flat over the last week. As for the longer term, the market has risen 25% in the past 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026€342.0b€196.4b€15.3b19.3x22.4x1.7x
Fri, 30 Jan 2026€327.2b€197.6b€13.4b19.7x24.4x1.7x
Sun, 28 Dec 2025€318.6b€197.3b€13.4b19.1x23.8x1.6x
Tue, 25 Nov 2025€302.8b€197.1b€13.4b18.8x22.6x1.5x
Thu, 23 Oct 2025€296.8b€197.6b€13.2b20.1x22.4x1.5x
Sat, 20 Sep 2025€287.0b€196.1b€13.2b20x21.7x1.5x
Mon, 18 Aug 2025€282.7b€196.0b€13.2b20.3x21.5x1.4x
Wed, 16 Jul 2025€277.9b€196.1b€13.5b20.3x20.6x1.4x
Fri, 13 Jun 2025€275.7b€196.1b€13.5b20.3x20.4x1.4x
Sun, 11 May 2025€265.8b€196.1b€13.6b19.9x19.6x1.4x
Tue, 08 Apr 2025€234.1b€195.1b€14.6b17.3x16x1.2x
Thu, 06 Mar 2025€272.7b€195.5b€14.6b20x18.7x1.4x
Sat, 01 Feb 2025€261.8b€198.8b€15.5b18.1x16.8x1.3x
Mon, 30 Dec 2024€247.5b€199.2b€14.7b17.8x16.8x1.2x
Wed, 27 Nov 2024€248.5b€199.7b€14.7b18.1x16.9x1.2x
Fri, 25 Oct 2024€262.0b€199.7b€14.2b18.6x18.5x1.3x
Sun, 22 Sep 2024€224.0b€188.3b€9.6b18.5x23.4x1.2x
Tue, 20 Aug 2024€223.7b€188.6b€9.5b18.8x23.4x1.2x
Thu, 18 Jul 2024€219.8b€190.3b€10.1b17.9x21.7x1.2x
Sat, 15 Jun 2024€222.3b€191.0b€10.0b18.7x22.3x1.2x
Mon, 13 May 2024€229.1b€190.8b€10.0b18x22.9x1.2x
Wed, 10 Apr 2024€223.9b€195.5b€10.2b17.8x21.9x1.1x
Fri, 08 Mar 2024€218.5b€195.0b€10.2b17.2x21.5x1.1x
Sun, 04 Feb 2024€226.9b€200.2b€9.4b19x24.1x1.1x
Tue, 02 Jan 2024€228.5b€202.7b€12.9b18.9x17.8x1.1x
Thu, 30 Nov 2023€222.0b€202.6b€12.9b18.2x17.2x1.1x
Sat, 28 Oct 2023€206.5b€204.1b€11.6b17.2x17.8x1x
Mon, 25 Sep 2023€222.3b€208.3b€12.8b18.9x17.3x1.1x
Wed, 23 Aug 2023€219.4b€209.1b€12.9b18.9x17.1x1x
Fri, 21 Jul 2023€228.3b€211.1b€17.3b18.8x13.2x1.1x
Sun, 18 Jun 2023€242.9b€210.8b€17.3b19.4x14x1.2x
Tue, 16 May 2023€246.1b€211.2b€17.3b18.9x14.2x1.2x
Thu, 13 Apr 2023€250.6b€208.8b€16.9b19.2x14.8x1.2x
Sat, 11 Mar 2023€252.2b€208.9b€16.9b19.7x15x1.2x
Price to Earnings Ratio

15x


Total Market Cap: €252.2bTotal 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 22.4x 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 3.3% 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 Market0.26%
Telecom2.86%
Materials2.16%
Industrials0.97%
Tech0.66%
Utilities0.58%
Real Estate0.13%
Consumer Discretionary-0.17%
Energy-0.52%
Consumer Staples-1.00%
Financials-1.12%
Healthcare-1.78%
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 38.2% 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 Energy sector, expecting annual earnings growth of 38% over the next 5 years.
  • 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
NOKIA Nokia Oyj€6.726.2%
+€2.2b		43.6%PE59.8xTech
NESTE Neste Oyj€22.717.1%
+€1.2b		162.7%PE121.2xEnergy
FORTUM Fortum Oyj€19.871.5%
+€264.7m		34.5%PE23.3xUtilities
VAIAS Vaisala Oyj€47.552.3%
+€38.1m		0.4%PE28.8xTech
SCANFL Scanfil Oyj€11.723.2%
+€23.6m		27.7%PE18.8xTech
See more

Market Insights

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Latest News

GOFORE
€12.40
Gofore Oyj
7D
13.8%
1Y
-42.5%
NOKIA
€6.72
Nokia Oyj
7D
6.2%
1Y
43.6%

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.
KCR
€95.00
Konecranes
7D
-5.8%
1Y
43.0%
MANTA
€6.67
Mandatum Oyj
7D
0.4%
1Y
22.5%
KNEBV
€60.76
KONE Oyj
7D
-4.9%
1Y
10.5%
TTALO
€9.23
Terveystalo Oyj
7D
1.1%
1Y
-20.3%
METSO
€16.68
Metso Oyj
7D
-5.4%
1Y
63.4%

METSO: Fair Outlook As Updated Margin Assumptions Balance Execution Risks

Metso Oyj's updated analyst price target edges up from about €15.76 to €17.04 as analysts factor in slightly adjusted growth assumptions, a higher profit margin outlook, and a modestly lower future P/E multiple. Analyst Commentary Recent Street research on Metso Oyj clusters around slightly higher price targets, with JPMorgan lifting its target to €18 from €16 and other firms reporting similar euro level adjustments.
SCANFL
€11.72
Scanfil Oyj
7D
3.2%
1Y
27.7%
NDA FI
€15.57
Nordea Bank Abp
7D
-6.5%
1Y
25.5%

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
€26.24
UPM-Kymmene Oyj
7D
-3.3%
1Y
-5.3%

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.
NESTE
€22.71
Neste Oyj
7D
7.1%
1Y
162.7%

Renewable Fuel Mandates And Capacity Expansion Will Support A Stable Long Term Outlook

Catalysts About Neste Oyj Neste Oyj is an energy company focused on renewable fuels and oil products, including renewable diesel and sustainable aviation fuel. What are the underlying business or industry changes driving this perspective?
WRT1V
€34.11
Wärtsilä Oyj Abp
7D
-8.4%
1Y
100.6%

WRT1V: Higher P/E And Execution Risks Will Likely Cap Future Returns

The analyst price target for Wärtsilä Oyj Abp has been revised higher by roughly €3.80 to about €28.74, as analysts update their views on fair value, discount rate, growth and margin assumptions following mixed target changes across major banks. Analyst Commentary Recent research updates on Wärtsilä Oyj Abp show a split in opinion, with some banks lifting their targets by several euros while others trim estimates or downgrade the shares.
STERV
€10.73
Stora Enso Oyj
7D
-5.6%
1Y
6.1%

STERV: Modest Margin Recovery Will Support Fairly Valued Shares Under Refined Assumptions

Narrative Update Analysts have nudged their price targets on Stora Enso Oyj higher by around €0.50 to €0.90, reflecting updated views on fair value, discount rates, and profitability assumptions. Analyst Commentary Recent research updates on Stora Enso Oyj cluster around modest upward revisions to price targets, suggesting analysts are fine tuning their views rather than making wholesale changes to their investment cases.
VAIAS
€47.55
Vaisala Oyj
7D
2.3%
1Y
0.4%
KESKOB
€19.93
Kesko Oyj
7D
-5.0%
1Y
5.3%

Here's What Analysts Are Forecasting For Kesko Oyj (HEL:KESKOB) After Its Annual Results

Feb 10
Here's What Analysts Are Forecasting For Kesko Oyj (HEL:KESKOB) After Its Annual Results
FORTUM
€19.87
Fortum Oyj
7D
1.5%
1Y
34.5%

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