Finnish (OMX) Financials Sector Analysis

Sector Valuation and Performance

Has the Finnish Financials Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 14 May 2026	€82.7b	€23.9b	€6.7b	15.4x	12.4x	3.5x
Sat, 11 Apr 2026	€86.2b	€24.1b	€7.2b	15.8x	12x	3.6x
Mon, 09 Mar 2026	€85.0b	€24.1b	€7.2b	16.1x	11.8x	3.5x
Wed, 04 Feb 2026	€90.9b	€23.8b	€6.9b	15.3x	13.2x	3.8x
Fri, 02 Jan 2026	€90.2b	€23.7b	€6.9b	15.5x	13.1x	3.8x
Sun, 30 Nov 2025	€86.5b	€23.7b	€6.9b	14.3x	12.6x	3.7x
Tue, 28 Oct 2025	€83.9b	€23.1b	€6.4b	14.5x	13.1x	3.6x
Thu, 25 Sep 2025	€80.5b	€23.1b	€6.5b	15.2x	12.5x	3.5x
Sat, 23 Aug 2025	€80.1b	€23.1b	€6.5b	13.4x	12.4x	3.5x
Mon, 21 Jul 2025	€74.3b	€22.9b	€6.4b	11.8x	11.6x	3.2x
Wed, 18 Jun 2025	€73.8b	€23.0b	€6.5b	11.3x	11.4x	3.2x
Fri, 16 May 2025	€75.9b	€23.0b	€6.5b	11.1x	11.7x	3.3x
Sun, 13 Apr 2025	€66.0b	€23.1b	€6.7b	10.8x	9.8x	2.9x
Tue, 11 Mar 2025	€74.9b	€23.1b	€6.7b	11.8x	11.2x	3.2x
Thu, 06 Feb 2025	€66.6b	€23.0b	€6.8b	10.4x	9.7x	2.9x
Sat, 04 Jan 2025	€64.6b	€22.9b	€6.8b	10.2x	9.5x	2.8x
Mon, 02 Dec 2024	€65.0b	€22.9b	€6.8b	10x	9.6x	2.8x
Wed, 30 Oct 2024	€66.5b	€22.7b	€6.8b	11.1x	9.8x	2.9x
Fri, 27 Sep 2024	€28.9b	€10.8b	€1.8b	11.7x	15.9x	2.7x
Sun, 25 Aug 2024	€26.1b	€10.8b	€1.8b	11.4x	14.4x	2.4x
Tue, 23 Jul 2024	€25.8b	€10.5b	€1.7b	11.8x	14.8x	2.5x
Thu, 20 Jun 2024	€25.9b	€10.8b	€1.7b	11.9x	15x	2.4x
Sat, 18 May 2024	€26.5b	€10.8b	€1.7b	12x	15.3x	2.5x
Mon, 15 Apr 2024	€26.1b	€10.3b	€1.6b	13.6x	16.6x	2.5x
Wed, 13 Mar 2024	€26.6b	€10.2b	€1.6b	13.3x	16.9x	2.6x
Fri, 09 Feb 2024	€26.2b	€9.5b	€826.5m	15.5x	31.7x	2.8x
Sun, 07 Jan 2024	€26.3b	€9.3b	€752.3m	16.6x	35x	2.8x
Tue, 05 Dec 2023	€26.3b	€9.3b	€752.3m	16.4x	34.9x	2.8x
Thu, 02 Nov 2023	€24.5b	€9.2b	€790.9m	15.4x	31x	2.7x
Sat, 30 Sep 2023	€24.9b	€9.0b	€952.7m	15.6x	26.2x	2.8x
Mon, 28 Aug 2023	€24.5b	€9.9b	€952.7m	16x	25.8x	2.5x
Wed, 26 Jul 2023	€24.8b	€9.2b	€1.3b	15.4x	18.6x	2.7x
Fri, 23 Jun 2023	€25.0b	€9.2b	€1.3b	15.3x	18.8x	2.7x
Sun, 21 May 2023	€26.1b	€9.2b	€1.3b	16.1x	19.6x	2.8x

Current Industry PE

Investors are pessimistic on the Finnish Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 12.4x which is lower than its 3-year average PE of 16.3x.

The 3-year average PS ratio of 3.0x is lower than the industry's current PS ratio of 3.5x.

Past Earnings Growth

The earnings for companies in the Financials industry have grown 71% per year over the last three years.
Revenues for these companies have grown 37% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Finnish Financials sector?


FI Market	-1.14%
Financials	-2.86%
Consumer Finance	0%	0
Banks	-2.77%
Insurance	-2.96%
Capital Markets	-3.73%

Industry PE

Investors are most optimistic about the Capital Markets industry even though it's trading below its 3-year average PE ratio of 19.1x.

Analysts are expecting annual earnings growth of 11.5%, which is higher than its past year's earnings decline of 18.9% per year.

Investors are most pessimistic about the Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.0x.

Forecasted Growth

Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 11% over the next 5 years.
This is better than its past earnings decline of 19% per year.

In contrast, the Banks industry is expected to see its earnings grow by 3.6% 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
AKTIA Aktia Pankki Oyj	€11.34	1.6% +€13.2m	19.6%	PB1x
ALEX Alexandria Group Oyj	€10.85	5.3% +€6.1m	14.2%	PE15.4x
UNITED United Bankers Oyj	€18.95	1.3% +€2.8m	12.1%	PE16.2x
SPRING Springvest Oyj	€7.80	1.3% +€557.1k	5.4%	PE46.5x

United Bankers Oyj (HLSE:UNITED) completed the acquisition of Fourton Oy from Q-Capital Oy, Matti Kukkarossa Oy, MOJ Consulting Oy, Emenoma Oy and Mikael Wahlström for €6 million.

United Bankers Oyj (HLSE:UNITED) agreed to acquire Fourton Oy for €4.2 million on February 11, 2026. The consideration consists of common equity of United Bankers Oyj having a value of €4.2 million to be issued for common equity of Fourton Oy. The transaction is intended to be executed as a share exchange. The fixed purchase price will be determined on the basis of certain financial figures and is estimated to be approximately €4.2 million. The final amount of the fixed purchase price will be confirmed on the closing date of the transaction. Subject to certain conditions, the sellers may be entitled to an additional purchase price, payable three years after the closing date of the transaction, and the maximum amount of which will be determined on the closing date of the transaction. All the key and other personnel of Fourton will continue as employees of United Bankers Group after the closing of the transaction. For the period ending December 31, 2025, Fourton Oy reported total revenue of €1.3 million and EBIT of €0.4 million. The transaction is subject to certain conditions such as regulatory approval by the Finnish Financial Supervisory Authority, share issuance authorization by the Annual General Meeting of United Bankers, and the fulfillment of certain customary conditions precedent. The expected completion of the transaction is March 25, 2026. United Bankers Oyj (HLSE:UNITED) completed the acquisition of Fourton Oy from Q-Capital Oy, Matti Kukkarossa Oy, MOJ Consulting Oy, Emenoma Oy and Mikael Wahlström for €6 million on April 23, 2026. As part of consideration, the purchase price of Fourton's shares is paid through a directed share issue of United Bankers shares and a cash consideration of €1.1 million. In addition, the Sellers have the option, subject to certain conditions agreed in the contract of sale, to receive an additional earn-out consideration of up to €1.8 million in total, which will be paid three years after the Closing of the transaction. The Board of Directors of United Bankers has today resolved to issue 163,523 new shares in United Bankers for subscription to the Sellers based on the authorization given by the Annual General Meeting held on 20 March 2026. The subscription price of the share will be paid in kind at a price of EUR 18.54 per share and it will be determined on the terms and conditions agreed in the acquisition, based on the volume-weighted average price of the United Bankers share during the period 1 January–22 April 2026. The directed share issue is carried out as part of an arrangement that supports United Bankers' growth strategic objectives, so there is a weighty financial reason for the company to deviate from the pre-emptive subscription right of United Bankers' shareholders. The new shares issued and subscribed for in the share issue represent in aggregate approximately a 1.47 per cent ownership in United Bankers after the registration of the new shares. Following the share issue, the total number of shares issued by United Bankers is 11,126,566 shares. Following the Closing, United Bankers will hold 100 per cent of the votes in Fourton. The new shares are intended to be registered at the Finnish Trade Register on or about 28 April 2026. Trading in the new shares on the official list of Nasdaq Helsinki Ltd is expected to commence on or about 29 April 2026.

Finnish (OMX) Financials Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Mandatum plc Approves Dividend for the Financial Year 2025, Payable on 21 May 2026

New major risk - Revenue and earnings growth

Now 21% undervalued after recent price drop

Sampo Reports Strong Q1 With 9% Underwriting Gain and €350 Million Share Buyback

First quarter 2026 earnings released: EPS: €0.019 (vs €0.023 in 1Q 2025)

Danish Regulator Calls for New Police Probe Into Nordea Finans Danmark Over Money Laundering Concerns

Now 20% undervalued after recent price drop

First quarter 2026 earnings: EPS and revenues miss analyst expectations

First quarter 2026 earnings released: EPS: €0.11 (vs €0.11 in 1Q 2025)

United Bankers Oyj (HLSE:UNITED) completed the acquisition of Fourton Oy from Q-Capital Oy, Matti Kukkarossa Oy, MOJ Consulting Oy, Emenoma Oy and Mikael Wahlström for €6 million.

Upcoming dividend of €0.35 per share

New minor risk - Profit margin trend