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French (CAC) Market Analysis & Valuation

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies636
  • 7D-0.6%
  • 3M-3.0%
  • 1Y-0.2%
  • YTD-4.5%

In the last week, the market has been flat, with a notable exception in the Consumer Discretionary sector dropping 3.1%. Similarly, the market is flat for the past 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026€2.9t€2.1t€130.5b16x22.5x1.4x
Mon, 30 Mar 2026€2.8t€2.1t€129.0b16x21.7x1.3x
Wed, 25 Feb 2026€3.1t€2.1t€132.1b16.2x23.8x1.5x
Fri, 23 Jan 2026€3.1t€2.1t€130.4b16.6x23.4x1.4x
Sun, 21 Dec 2025€3.1t€2.1t€130.4b16x23.5x1.4x
Tue, 18 Nov 2025€3.0t€2.1t€130.7b16.1x23.3x1.4x
Thu, 16 Oct 2025€3.0t€2.1t€127.4b16.5x23.8x1.4x
Sat, 13 Sep 2025€2.9t€2.1t€128.1b15.7x22.9x1.4x
Mon, 11 Aug 2025€2.9t€2.1t€129.8b16.2x22.4x1.4x
Wed, 09 Jul 2025€3.0t€2.1t€146.4b16.1x20.2x1.4x
Fri, 06 Jun 2025€3.0t€2.1t€146.8b15.5x20.1x1.4x
Sun, 04 May 2025€3.0t€2.1t€144.3b15.1x20.5x1.4x
Tue, 01 Apr 2025€3.0t€2.2t€151.4b14.8x19.6x1.4x
Thu, 27 Feb 2025€3.1t€2.2t€146.6b15.2x21.4x1.4x
Sat, 25 Jan 2025€3.1t€2.2t€147.9b14.6x20.7x1.4x
Mon, 23 Dec 2024€2.8t€2.2t€147.9b13.8x19x1.3x
Wed, 20 Nov 2024€2.8t€2.2t€145.2b13.7x19x1.3x
Fri, 18 Oct 2024€2.9t€2.1t€147.6b14.4x19.6x1.4x
Sun, 15 Sep 2024€2.8t€2.1t€146.5b14.7x19.4x1.3x
Tue, 13 Aug 2024€2.8t€2.1t€147.6b14.6x18.9x1.3x
Thu, 11 Jul 2024€2.9t€2.1t€149.4b15.6x19.5x1.4x
Sat, 08 Jun 2024€3.1t€2.1t€149.4b17x20.8x1.5x
Mon, 06 May 2024€3.1t€2.1t€147.8b16.2x20.9x1.5x
Wed, 03 Apr 2024€3.1t€2.1t€103.6b15.3x30.4x1.5x
Fri, 01 Mar 2024€3.1t€2.2t€103.9b14.9x29.9x1.4x
Sun, 28 Jan 2024€3.0t€2.2t€102.5b15x29.3x1.4x
Tue, 26 Dec 2023€3.0t€2.2t€103.7b14.6x28.5x1.3x
Thu, 23 Nov 2023€2.9t€2.2t€105.9b14x27x1.3x
Sat, 21 Oct 2023€2.7t€2.2t€149.3b13.8x17.8x1.2x
Mon, 18 Sep 2023€2.9t€2.2t€149.7b14.3x19.5x1.3x
Wed, 16 Aug 2023€2.9t€2.2t€150.8b14.3x19.4x1.3x
Fri, 14 Jul 2023€3.0t€2.3t€145.0b14.8x20.7x1.3x
Sun, 11 Jun 2023€2.9t€2.3t€146.0b14.2x20.1x1.3x
Tue, 09 May 2023€3.1t€2.4t€124.7b14.5x24.7x1.3x
Price to Earnings Ratio

24.7x


Total Market Cap: €3.1tTotal Earnings: €124.7bTotal Revenue: €2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
French Market Price to Earnings3Y Average 22.3x202420252026
Current Market PE
  • Investors are relatively neutral on the French 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 22.3x.
Past Earnings Growth
  • The earnings for French listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 4.6% 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 French Market?

FR Market-0.62%
Energy2.76%
Tech2.58%
Industrials0.75%
Telecom0.72%
Utilities-0.10%
Financials-0.27%
Real Estate-0.83%
Healthcare-1.18%
Materials-2.40%
Consumer Staples-2.45%
Consumer Discretionary-3.12%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 26.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 13.5% which is higher than its past year's earnings decline of 13.7% per year.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 9.4x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 6.8% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.1% 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
AIR Airbus€174.885.4%
+€7.1b		12.9%PE27.5xIndustrials
TTE TotalEnergies€79.293.0%
+€4.8b		55.9%PE13.1xEnergy
STMPA STMicroelectronics€46.026.1%
+€2.4b		122.9%PE326xTech
BNP BNP Paribas€89.230.2%
+€1.5b		16.9%PB0.8xFinancials
SAF Safran€273.001.1%
+€1.2b		12.2%PE15.8xIndustrials
See more

Market Insights

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Latest News

BNP
€89.23
BNP Paribas
7D
0.2%
1Y
16.9%
AMUN
€82.20
Amundi
7D
7.5%
1Y
14.4%
AIR
€174.88
Airbus
7D
5.4%
1Y
12.9%

AIR: Delivery Constraints And Defense Prospects Will Shape Balanced Future Share Potential

Analysts have trimmed the Airbus fair value estimate from €175.64 to €170.00, as a series of recent price target cuts and more neutral ratings reflect updated views on delivery expectations, profit margins, and the appropriate P/E multiple. Analyst Commentary Recent research updates point to a more cautious tone around Airbus, with several firms trimming price targets and leaning toward neutral ratings as they reassess delivery assumptions, earnings sensitivity per aircraft, and what investors may be willing to pay on a P/E basis.
TTE
€79.29
TotalEnergies
7D
3.0%
1Y
55.9%

TTE: Higher Geopolitical Oil Prices Will Eventually Pressure Cash Flows

The analyst price target for TotalEnergies has been raised from about €61.05 to roughly €69.43. Analysts point to updated views on margins, valuation multiples, and a series of recent target hikes and upgrades across major banks as key drivers of the change.
STMPA
€46.02
STMicroelectronics
7D
6.1%
1Y
122.9%

STMPA: AI Servers And Auto Recovery Themes Will Drive 2026 Earnings

Analysts have lifted the fair value estimate for STMicroelectronics from €41.18 to €52.98. This change reflects updated assumptions for slightly lower discount rates, higher revenue growth, stronger profit margins, and a modestly higher future P/E multiple supported by a series of recent price target increases and upgrades across major firms.
NEX
€158.10
Nexans
7D
15.0%
1Y
61.7%
AI
€183.08
L'Air Liquide
7D
-2.8%
1Y
-1.2%

AI: Fair Value View Balances Large Industrial Gas Projects And Recent Rating Upgrades

Analysts have raised the fair value estimate for L'Air Liquide to €198.15 from €196.58, reflecting updated assumptions for higher revenue growth, a slightly adjusted discount rate, a steady profit margin profile, and recent price target increases from several research houses. Analyst Commentary Recent Street research for L'Air Liquide has leaned positive, with several firms adjusting price targets and ratings.
EL
€181.25
EssilorLuxottica Société anonyme
7D
-2.4%
1Y
-29.6%

EL: Refined Street Assumptions And AI Glasses Partnership Will Support Future Earnings Power

EssilorLuxottica Société anonyme’s updated analyst price target has been adjusted slightly lower to €361 from €365, as analysts factor in recent target cuts across the Street, along with modest tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Recent Street research on EssilorLuxottica Société anonyme has centered on price target revisions, with several major firms adjusting their assumptions around revenue, margins and P/E multiples.
SU
€268.60
Schneider Electric
7D
-2.7%
1Y
24.5%
MC
€451.40
LVMH Moët Hennessy - Louis Vuitton Société Européenne
7D
-4.3%
1Y
-9.0%
OR
€366.05
L'Oréal
7D
-3.0%
1Y
-6.9%

OR: Tariff Refund Lawsuit And Mixed Research Tone Will Shape Future Premium P/E Potential

Analysts have nudged their fair value estimate for L'Oréal slightly higher to €403.48 from €402.73, reflecting recent upward revisions to Street price targets in the €370 to €437 range and broadly supportive research commentary on the shares. Analyst Commentary Recent research points to a generally constructive tone around L'Oréal, with several firms lifting their price targets into the mid to high €300s and low €400s and one major upgrade in rating.
CAP
€103.00
Capgemini
7D
3.9%
1Y
-27.7%

CAP: Gen AI Partnerships And Cloud Alliances Will Support Future Rerating Potential

Capgemini's updated narrative reflects a slightly lower implied price target, moving from about €153 to about €150, as analysts factor in modestly softer revenue growth and profit margin assumptions alongside higher discount rates and tempered P/E expectations. Analyst Commentary Recent research reflects a mixed but generally cautious stance on Capgemini, with several firms trimming price targets and a handful adjusting ratings as they reassess growth, profitability and valuation expectations.
ACA
€16.60
Crédit Agricole
7D
-2.9%
1Y
0.5%

ACA: Dividend Proposal And Rating Resets Will Support Future Share Repricing

The analyst price target for Crédit Agricole has increased slightly to €20.30 from €20.03. Analysts attribute the change to updated fair value assumptions, revisions to revenue growth and profit margin expectations, and a series of recent rating and target adjustments from major firms.
CDI
€425.20
Christian Dior
7D
-4.2%
1Y
-7.9%
SAF
€273.00
Safran
7D
1.1%
1Y
12.2%

SAF: Dividend Growth And Electric Aviation Progress Will Support Future Repricing

Narrative Update on Safran The analyst price target for Safran has been reduced by €6 to €410. Analysts are factoring in recent target revisions and a slightly higher discount rate, alongside updated assumptions on growth, margins and future P/E.
RMS
€1,623.50
Hermès International Société en commandite par actions
7D
-1.5%
1Y
-33.8%

RMS: Defensive Brand Profile Will Support Upside Despite Recent Target Cuts

Hermès International Société en commandite par actions sees its analyst price target trimmed from about €2,372 to roughly €2,182, as analysts factor in a slightly higher discount rate, more measured revenue growth assumptions, a marginally lower profit margin outlook, and a modestly reduced future P/E multiple following a series of recent target cuts alongside a few upgrades. Analyst Commentary Recent Street research on Hermès International Société en commandite par actions shows a mix of lower price targets and several upgrades, with analysts reassessing both upside potential and execution risks around current valuation levels.