Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Finnish (OMX) Market Analysis & Valuation

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies173
  • 7D2.0%
  • 3M10.3%
  • 1Y29.8%
  • YTD25.4%

The market is up 2.0% over the last week, with the Financials sector leading the way, up 2.8%. The market is up 30% over the last 12 months. Earnings are forecast to grow by 17% annually.

Trending IndustriesSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025€318.6b€197.3b€13.4b19.1x23.8x1.6x
Sat, 22 Nov 2025€300.1b€197.1b€13.4b18.5x22.4x1.5x
Mon, 20 Oct 2025€293.0b€197.6b€13.2b19.9x22.1x1.5x
Wed, 17 Sep 2025€288.3b€196.1b€13.2b20.5x21.8x1.5x
Fri, 15 Aug 2025€282.1b€196.4b€13.3b20.3x21.3x1.4x
Sun, 13 Jul 2025€279.4b€196.1b€13.5b20.3x20.7x1.4x
Tue, 10 Jun 2025€275.7b€196.1b€13.5b20.4x20.4x1.4x
Thu, 08 May 2025€264.3b€196.0b€13.6b19.8x19.5x1.3x
Sat, 05 Apr 2025€244.8b€195.1b€14.6b18.1x16.8x1.3x
Mon, 03 Mar 2025€271.1b€195.5b€14.6b19.5x18.5x1.4x
Wed, 29 Jan 2025€258.5b€199.2b€14.7b18.4x17.5x1.3x
Fri, 27 Dec 2024€243.7b€199.2b€14.7b17.5x16.5x1.2x
Sun, 24 Nov 2024€250.2b€200.2b€14.7b17.9x17x1.2x
Tue, 22 Oct 2024€265.8b€199.8b€14.6b18.5x18.2x1.3x
Thu, 19 Sep 2024€224.2b€188.3b€9.6b18.6x23.5x1.2x
Sat, 17 Aug 2024€221.7b€188.6b€9.6b18.2x23.2x1.2x
Mon, 15 Jul 2024€222.3b€190.3b€10.1b18.3x22x1.2x
Wed, 12 Jun 2024€224.9b€191.0b€10.0b18.7x22.5x1.2x
Fri, 10 May 2024€225.5b€190.8b€10.0b17.8x22.6x1.2x
Sun, 07 Apr 2024€223.1b€195.5b€10.2b17.7x21.8x1.1x
Tue, 05 Mar 2024€217.9b€195.0b€10.2b17.5x21.4x1.1x
Thu, 01 Feb 2024€229.6b€200.7b€9.6b18.9x23.8x1.1x
Sat, 30 Dec 2023€228.7b€202.7b€12.9b18.9x17.8x1.1x
Mon, 27 Nov 2023€221.2b€202.6b€12.9b18.1x17.2x1.1x
Wed, 25 Oct 2023€202.5b€207.1b€12.3b17.3x16.4x1x
Fri, 22 Sep 2023€223.2b€208.3b€12.8b18.9x17.4x1.1x
Sun, 20 Aug 2023€217.8b€209.1b€12.9b19x16.9x1x
Tue, 18 Jul 2023€226.5b€210.9b€17.3b18.3x13.1x1.1x
Thu, 15 Jun 2023€244.9b€210.8b€17.3b19.5x14.2x1.2x
Sat, 13 May 2023€245.9b€211.2b€17.3b19.5x14.2x1.2x
Mon, 10 Apr 2023€249.5b€208.8b€16.9b19.2x14.8x1.2x
Wed, 08 Mar 2023€257.9b€208.7b€16.9b19.9x15.3x1.2x
Fri, 03 Feb 2023€262.1b€312.0b€16.5b17.2x15.9x0.8x
Sun, 01 Jan 2023€253.4b€310.0b€14.1b15.9x18x0.8x
Price to Earnings Ratio

18x


Total Market Cap: €253.4bTotal Earnings: €14.1bTotal Revenue: €310.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Market Price to Earnings3Y Average 19.1x202320242025
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 23.8x which is higher than its 3-year average PE of 19.1x.
Past Earnings Growth
  • The earnings for Finnish listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 14% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the Finnish Market?

FI Market2.05%
Tech4.24%
Energy3.68%
Financials2.78%
Healthcare2.72%
Industrials1.49%
Materials0.86%
Consumer Staples0.44%
Real Estate0.10%
Utilities0.055%
Consumer Discretionary-0.15%
Telecom-0.45%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 9.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 51.3% which is higher than its past year's earnings decline of 12.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 68% 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
NDA FI Nordea Bank Abp€15.973.1%
+€1.6b		55.0%PB1.7xFinancials
NOKIA Nokia Oyj€5.524.5%
+€1.3b		30.2%PE36.4xTech
SAMPO Sampo Oyj€10.272.2%
+€599.5m		31.6%PE16.7xFinancials
KNEBV KONE Oyj€60.361.8%
+€548.9m		29.2%PE32.8xIndustrials
NESTE Neste Oyj€18.893.7%
+€514.7m		69.3%PS0.7xEnergy
See more

Market Insights

Header cover image
Three Sectors Expected to Rally in 2026 📈
With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
Continue reading
🤖 AI Companies Hit The Bond Market
Last Week

🤖 AI Companies Hit The Bond Market

Latest News

VALMT
€27.54
Valmet Oyj
7D
4.4%
1Y
20.3%
METSO
€14.65
Metso Oyj
7D
-0.1%
1Y
64.1%

Is It Too Late To Consider Buying Metso Oyj (HEL:METSO)?

Dec 23
Is It Too Late To Consider Buying Metso Oyj (HEL:METSO)?
LINDEX
€2.40
Lindex Group Oyj
7D
-12.9%
1Y
-12.6%

Lindex Group Oyj's (HEL:LINDEX) Popularity With Investors Is Under Threat From Overpricing

Dec 23
Lindex Group Oyj's (HEL:LINDEX) Popularity With Investors Is Under Threat From Overpricing
BITTI
€26.65
Bittium Oyj
7D
30.0%
1Y
303.8%
NOKIA
€5.52
Nokia Oyj
7D
4.5%
1Y
30.2%

NOKIA: AI And Cloud Demand Will Drive Margin Expansion And Upside Potential

Nokia Oyj's analyst fair value estimate has been raised from EUR 5.75 to EUR 7.20, as analysts highlight improving margins, slightly stronger growth expectations, and an increasingly compelling AI driven equity story, despite mixed views on long term network infrastructure targets. Analyst Commentary Recent Street research on Nokia Oyj reflects a notable shift toward a more constructive stance, with several bullish analysts highlighting improving execution, a clearer growth algorithm, and a more compelling equity story tied to artificial intelligence and cloud driven demand.
KNEBV
€60.36
KONE Oyj
7D
1.8%
1Y
29.2%

KNEBV: Rising FX Headwinds Will Limit Upside Despite Price Objective Increase

Analysts have raised their price target for KONE Oyj from approximately €39.78 to €44.00, reflecting expectations for slightly faster revenue growth, modestly higher profit margins, and a richer future earnings multiple despite a higher discount rate. Analyst Commentary Recent Street research indicates that bearish analysts remain cautious on KONE Oyj despite incremental upward revisions to price targets.
NDA FI
€15.97
Nordea Bank Abp
7D
3.1%
1Y
55.0%

NDA FI: Share Buybacks And Capital Markets Role Will Shape Outlook

Analysts have modestly raised their price target for Nordea Bank Abp to €15.65 from €15.44, reflecting slightly higher long term revenue growth assumptions and a richer forward P E multiple, despite a largely unchanged profitability outlook. What's in the News Nordea has been mandated, alongside Danske Bank, as Joint Lead Manager for Tryg Forsikring's planned digital fixed income investor meeting on 10 November 2025.
ELISA
€37.04
Elisa Oyj
7D
-1.5%
1Y
-10.5%

Are Investors Undervaluing Elisa Oyj (HEL:ELISA) By 48%?

Dec 20
Are Investors Undervaluing Elisa Oyj (HEL:ELISA) By 48%?
SFOODS
€4.65
Solar Foods Oyj
7D
-8.4%
1Y
0.5%
SAMPO
€10.27
Sampo Oyj
7D
2.2%
1Y
31.6%

SAMPO: Future Cash Returns And Leadership Transition Will Define Balanced Outlook

Analysts have nudged their price target on Sampo Oyj higher, from EUR 9.54 to EUR 9.91. They cite slightly stronger long term fair value estimates supported by modest improvements in expected revenue growth, profit margins and future valuation multiples.
HARVIA
€41.85
Harvia Oyj
7D
-1.3%
1Y
-2.3%

HARVIA: Smart Sauna Expansion And Wellness Branding Will Drive Future Upside

Analysts have trimmed their price target for Harvia Oyj from EUR 56.00 to EUR 48.00. This reflects more conservative assumptions around discount rates, revenue growth, profit margins and future valuation multiples.
NESTE
€18.89
Neste Oyj
7D
3.7%
1Y
69.3%
ORNBV
€63.55
Orion Oyj
7D
3.2%
1Y
49.7%
FSKRS
€12.26
Fiskars Oyj Abp
7D
-3.3%
1Y
-17.6%
PON1V
€25.40
Ponsse Oyj
7D
-2.3%
1Y
23.3%
MUSTI
€17.76
Musti Group Oyj
7D
-1.9%
1Y
-11.2%