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Finnish (OMX) Market Analysis & Valuation

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies172
  • 7D0.3%
  • 3M10.5%
  • 1Y32.8%
  • YTD12.8%

Over the last 7 days, the market has remained flat, although notably the Utilities sector gained 5.4% in that time. As for the longer term, the market has risen 33% in the past 12 months. Earnings are forecast to grow by 14% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026€367.1b€196.7b€15.6b18.7x23.6x1.9x
Mon, 04 May 2026€353.5b€197.1b€16.0b18.4x22.1x1.8x
Wed, 01 Apr 2026€325.2b€196.1b€15.2b19x21.4x1.7x
Fri, 27 Feb 2026€339.4b€196.5b€15.1b19.3x22.5x1.7x
Sun, 25 Jan 2026€331.7b€197.7b€13.4b19.9x24.7x1.7x
Tue, 23 Dec 2025€317.4b€197.3b€13.4b19.1x23.7x1.6x
Thu, 20 Nov 2025€298.8b€197.1b€13.4b18.7x22.3x1.5x
Sat, 18 Oct 2025€293.0b€197.6b€13.2b19.9x22.1x1.5x
Mon, 15 Sep 2025€289.5b€196.1b€13.2b20.7x21.9x1.5x
Wed, 13 Aug 2025€280.8b€196.5b€13.3b20.2x21.1x1.4x
Fri, 11 Jul 2025€281.4b€196.1b€13.5b20.5x20.8x1.4x
Sun, 08 Jun 2025€275.0b€196.1b€13.5b20.3x20.4x1.4x
Tue, 06 May 2025€264.4b€196.0b€13.7b19.9x19.4x1.3x
Thu, 03 Apr 2025€260.2b€195.1b€14.6b19.1x17.8x1.3x
Sat, 01 Mar 2025€272.1b€195.5b€14.7b19.7x18.6x1.4x
Mon, 27 Jan 2025€258.9b€199.2b€14.7b18x17.6x1.3x
Wed, 25 Dec 2024€243.7b€199.2b€14.7b17.5x16.5x1.2x
Fri, 22 Nov 2024€248.8b€199.8b€14.7b18x16.9x1.2x
Sun, 20 Oct 2024€267.2b€199.7b€14.6b18.2x18.3x1.3x
Tue, 17 Sep 2024€220.4b€188.3b€9.6b18.3x23.1x1.2x
Thu, 15 Aug 2024€219.6b€188.7b€9.9b18.3x22.3x1.2x
Sat, 13 Jul 2024€222.3b€190.3b€10.1b18.3x22x1.2x
Mon, 10 Jun 2024€227.5b€191.0b€10.0b18.9x22.8x1.2x
Wed, 08 May 2024€225.2b€190.4b€9.9b17.9x22.9x1.2x
Fri, 05 Apr 2024€223.0b€195.5b€10.2b17.6x21.8x1.1x
Sun, 03 Mar 2024€219.7b€195.0b€10.2b17.1x21.6x1.1x
Tue, 30 Jan 2024€231.3b€200.9b€9.7b18.6x23.9x1.2x
Thu, 28 Dec 2023€229.8b€202.7b€12.9b18.6x17.9x1.1x
Sat, 25 Nov 2023€220.6b€202.6b€12.9b18.1x17.1x1.1x
Mon, 23 Oct 2023€204.4b€207.1b€12.3b17.8x16.6x1x
Wed, 20 Sep 2023€225.0b€209.1b€12.8b18.9x17.5x1.1x
Fri, 18 Aug 2023€218.7b€209.0b€12.9b19.1x17x1x
Sun, 16 Jul 2023€228.4b€210.9b€17.3b18.3x13.2x1.1x
Tue, 13 Jun 2023€241.6b€210.8b€17.3b19.4x14x1.1x
Price to Earnings Ratio

14x


Total Market Cap: €241.6bTotal Earnings: €17.3bTotal Revenue: €210.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Market Price to Earnings3Y Average 20.2x202420252026
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 23.6x which is higher than its 3-year average PE of 20.2x.
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 2.3% 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 Market0.27%
Utilities5.39%
Tech3.64%
Energy1.67%
Consumer Staples0.62%
Materials0.16%
Consumer Discretionary-0.45%
Industrials-1.07%
Financials-2.02%
Healthcare-2.14%
Telecom-2.75%
Real Estate-4.75%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 26.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 24.8% which is higher than its past year's earnings decline of 7.3% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 16.2x.
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 Utilities sector is expected to see its earnings grow by 3.1% per year 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€13.084.7%
+€3.3b		174.8%PE94.8xTech
FORTUM Fortum Oyj€21.135.4%
+€969.0m		35.5%PE23xUtilities
WRT1V Wärtsilä Oyj Abp€35.581.9%
+€400.9m		91.1%PE32.3xIndustrials
NESTE Neste Oyj€28.631.7%
+€361.1m		200.0%PE30.7xEnergy
HIAB Hiab Oyj€57.156.0%
+€209.7m		10.4%PE27.4xIndustrials
See more

Market Insights

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Latest News

WRT1V
€35.58
Wärtsilä Oyj Abp
7D
1.9%
1Y
91.1%
Narrative Update • Jun 04

WRT1V: Rich P/E And UBS Downgrade Will Restrain Future Returns

Analysts have kept the fair value estimate for Wärtsilä Oyj Abp steady at €31.82, making only small tweaks to underlying assumptions after recent Street research pointed to a more balanced risk and reward profile following the stock's strong run and mixed adjustments to price targets across firms. Analyst Commentary Recent Street research around Wärtsilä Oyj Abp points to a more balanced setup, with the fair value estimate held at €31.82 while price targets and ratings move in different directions.
HIAB
€57.15
Hiab Oyj
7D
6.0%
1Y
10.4%
Narrative Update • Jun 03

HIAB: Acquisition And Margin Execution Will Shape Balanced Fairly Valued Outlook

Hiab Oyj’s analyst fair value estimate has shifted from €55.75 to €65.75, with analysts pointing to recent upgrades and more constructive views on revenue growth and profitability expectations to support the higher price target. Analyst Commentary Recent research points to a more constructive stance on Hiab Oyj, with upgrades supported by higher confidence in the company’s revenue growth and profitability outlook.
UPM
€25.28
UPM-Kymmene Oyj
7D
1.0%
1Y
6.8%
Narrative Update • Jun 03

UPM: Future Returns Will Hinge On 2026 Cost Actions And Paper JV Execution

Analysts have trimmed their average price target for UPM-Kymmene Oyj to about €25.94 from roughly €25.81, reflecting recent target cuts from several banks along with updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent research suggests the analyst community is split between cautious optimism and a more guarded stance on UPM-Kymmene Oyj, with several high profile firms adjusting price targets and ratings as new information on costs and valuation assumptions comes through.
NOKIA
€13.08
Nokia Oyj
7D
4.7%
1Y
174.8%
FORTUM
€21.13
Fortum Oyj
7D
5.4%
1Y
35.5%
ELISA
€39.68
Elisa Oyj
7D
-3.5%
1Y
-14.8%
SAMPO
€8.88
Sampo Oyj
7D
-2.0%
1Y
-5.6%
KNEBV
€50.34
KONE Oyj
7D
-1.8%
1Y
-9.2%
Narrative Update • Jun 03

KNEBV: Elevated P/E Will Face Pressure From TK Elevator Deal Execution Risk

Analysts have adjusted their price targets on KONE Oyj, with one major bank trimming its view by €5 while others turn more positive or cautious. These changes reflect updated assumptions for revenue growth, margins and the future P/E multiple.
ORNBV
€69.85
Orion Oyj
7D
-2.4%
1Y
11.5%
NDA FI
€16.13
Nordea Bank Abp
7D
-2.1%
1Y
27.1%
Narrative Update • Jun 02

NDA FI: Stablecoin Initiative And Dividend Policy Will Shape Balanced Outlook

Analysts have adjusted their price target for Nordea Bank Abp to €17.03 from €16.64, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Nordea joined Qivalis, a consortium of European banks working to create a regulated, euro‑denominated stablecoin using blockchain technology.
KCR
€27.30
Konecranes
7D
-3.7%
1Y
17.5%
Narrative Update • Jun 01

KCR: Rating Upgrade And Dividend Strength Will Support Future Returns

Analysts have maintained their Konecranes fair value target at €34.25. A recent upgrade from Danske Bank has been reflected in slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together support this unchanged price target.
BITTI
€33.65
Bittium Oyj
7D
-14.6%
1Y
319.1%
Narrative Update • Jun 01

BITTI: 2026 Earnings Guidance Will Underpin Rich P/E Despite Defence Contracts

Analysts have maintained their €32.84 price target for Bittium Oyj, citing slightly revised assumptions for the discount rate, revenue growth, profit margin and future P/E as the basis for their unchanged view. What's in the News Croatian Armed Forces are expanding the use of Bittium’s tactical communications solutions to cover ground-based communications for the Croatian Air Force under a four-year framework agreement, with the latest purchase order valued at about €1.9 million.
METSO
€15.96
Metso Oyj
7D
-2.6%
1Y
46.4%
Narrative Update • Jun 01

METSO: Future Returns Will Depend On Lithium Progress And Dividend Reliability

Metso Oyj's analyst price target has been nudged higher by €0.03, with analysts pointing to modest tweaks in fair value, discount rate, revenue growth, profit margin and future P/E assumptions to justify the change. Analyst Commentary Recent Street research on Metso Oyj has been mixed, with some analysts lifting price targets and ratings while others trim targets or turn more cautious.
PUUILO
€14.02
Puuilo Oyj
7D
6.7%
1Y
7.3%
Narrative Update • May 27

PUUILO: Future Returns Will Rely On Dividends Buybacks And Earnings Guidance

Analysts have adjusted their average price target for Puuilo Oyj slightly lower from €14.25 to about €14.23, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with earlier assessments. What's in the News The Annual General Meeting on 12 May 2026 approved an aggregate dividend of €0.66 per share for the financial year ended 31 January 2026.
NESTE
€28.63
Neste Oyj
7D
1.7%
1Y
200.0%
Analysis Article • May 03

Results: Neste Oyj Exceeded Expectations And The Consensus Has Updated Its Estimates

Neste Oyj ( HEL:NESTE ) defied analyst predictions to release its first-quarter results, which were ahead of market...
KESKOB
€20.94
Kesko Oyj
7D
0.8%
1Y
0.5%