French (CAC) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 28 Aug 2026	€3.0t	€2.1t	€151.3b	15.8x	20x	1.4x
Sun, 26 Jul 2026	€3.0t	€2.1t	€133.5b	16.3x	22.6x	1.4x
Tue, 23 Jun 2026	€3.0t	€2.1t	€129.0b	16.1x	23.5x	1.4x
Thu, 21 May 2026	€3.0t	€2.1t	€130.5b	15.9x	22.7x	1.4x
Sat, 18 Apr 2026	€3.1t	€2.1t	€128.5b	16.6x	23.8x	1.5x
Mon, 16 Mar 2026	€2.9t	€2.1t	€132.7b	15.9x	21.8x	1.4x
Wed, 11 Feb 2026	€3.1t	€2.1t	€128.3b	16.7x	24x	1.5x
Fri, 09 Jan 2026	€3.1t	€2.1t	€130.5b	16.7x	23.7x	1.5x
Sun, 07 Dec 2025	€3.0t	€2.1t	€130.8b	16.3x	23.3x	1.4x
Tue, 04 Nov 2025	€3.0t	€2.1t	€130.7b	16.4x	23.3x	1.4x
Thu, 02 Oct 2025	€3.0t	€2.1t	€127.3b	16.3x	23.5x	1.4x
Sat, 30 Aug 2025	€2.9t	€2.1t	€130.0b	15.8x	22.4x	1.4x
Mon, 28 Jul 2025	€3.0t	€2.1t	€142.8b	16x	20.8x	1.4x
Wed, 25 Jun 2025	€2.9t	€2.1t	€146.8b	16x	19.7x	1.4x
Fri, 23 May 2025	€3.0t	€2.1t	€146.6b	15.3x	20.3x	1.4x
Sun, 20 Apr 2025	€2.8t	€2.1t	€144.2b	14.3x	19.3x	1.3x
Tue, 18 Mar 2025	€3.1t	€2.2t	€147.8b	14.9x	20.9x	1.4x
Thu, 13 Feb 2025	€3.1t	€2.2t	€144.3b	14.4x	21.4x	1.4x
Sat, 11 Jan 2025	€2.9t	€2.2t	€148.3b	14.4x	19.3x	1.3x
Mon, 09 Dec 2024	€2.9t	€2.2t	€145.4b	13.5x	19.7x	1.3x
Wed, 06 Nov 2024	€2.8t	€2.1t	€144.4b	13.8x	19.6x	1.3x
Fri, 04 Oct 2024	€2.9t	€2.1t	€147.2b	14.2x	19.6x	1.4x
Sun, 01 Sep 2024	€2.9t	€2.1t	€146.8b	15x	20x	1.4x
Tue, 30 Jul 2024	€2.9t	€2.1t	€146.7b	15.3x	19.6x	1.4x
Thu, 27 Jun 2024	€2.9t	€2.1t	€149.6b	16x	19.7x	1.4x
Sat, 25 May 2024	€3.1t	€2.1t	€149.2b	16.9x	20.9x	1.5x
Mon, 22 Apr 2024	€3.1t	€2.1t	€104.9b	15.5x	29.6x	1.5x
Wed, 20 Mar 2024	€3.2t	€2.1t	€102.5b	14.7x	31x	1.5x
Fri, 16 Feb 2024	€3.0t	€2.2t	€95.1b	14.7x	31.9x	1.4x
Sun, 14 Jan 2024	€2.9t	€2.2t	€103.7b	15.3x	27.9x	1.3x
Tue, 12 Dec 2023	€3.0t	€2.2t	€106.0b	14.4x	27.8x	1.3x
Thu, 09 Nov 2023	€2.8t	€2.2t	€104.7b	13.5x	26.5x	1.2x
Sat, 07 Oct 2023	€2.8t	€2.2t	€150.1b	13.8x	18.5x	1.2x
Mon, 04 Sep 2023	€2.9t	€2.2t	€149.8b	14.4x	19.5x	1.3x

Current Market PE

Investors are pessimistic on the French market, indicating that they anticipate earnings will not grow as fast as they have historically.

The market is trading at a PE ratio of 20.0x which is lower than its 3-year average PE of 22.5x.

Past Earnings Growth

Both revenue and earnings for French listed companies have remained mostly flat over the last three years.
This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the French Market?


FR Market	-0.51%
Materials	1.05%
Consumer Staples	0.88%
Industrials	0.04%
Real Estate	-0.011%
Healthcare	-0.46%
Financials	-0.81%
Consumer Discretionary	-0.95%
Telecom	-1.11%
Utilities	-1.14%
Tech	-1.92%
Energy	-2.71%

Sector PE

Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 29.2x.

The market's confidence is likely because analysts are expecting annual earnings growth of 15.3% which is higher than its past year's earnings decline of 5.4% 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 9.7x.

Forecasted Growth

Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 22% over the next 5 years.
This is better than its past earnings growth rate of 0.2% per year.

In contrast, the Energy sector is expected to see its earnings grow by 2.5% per year over the next few years.

Company	Last Price	7D	1Y	Valuation	Sector
MC LVMH Moët Hennessy - Louis Vuitton Société Européenne	€447.40	1.0% +€2.1b	-12.8%	PE20.3x	Consumer Discretionary
SU Schneider Electric	€297.55	1.1% +€1.8b	39.2%	PE35.3x	Industrials
RMS Hermès International Société en commandite par actions	€1.56k	0.9% +€1.4b	-26.4%	PE36.3x	Consumer Discretionary
DSY Dassault Systèmes	€23.07	3.8% +€1.1b	-14.5%	PE23.1x	Tech
STMPA STMicroelectronics	€43.59	1.4% +€530.8m	83.2%	PE97.1x	Tech

Company

Last Price

Valuation

Sector

MC LVMH Moët Hennessy - Louis Vuitton Société Européenne

€447.40

1.0%
+€2.1b

-12.8%

PE20.3x

Consumer Discretionary

SU Schneider Electric

€297.55

1.1%
+€1.8b

39.2%

PE35.3x

Industrials

RMS Hermès International Société en commandite par actions

€1.56k

0.9%
+€1.4b

-26.4%

PE36.3x

Consumer Discretionary

DSY Dassault Systèmes

€23.07

3.8%
+€1.1b

-14.5%

PE23.1x

Tech

STMPA STMicroelectronics

€43.59

1.4%
+€530.8m

83.2%

PE97.1x

Tech

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion on August 20, 2026. Under the terms of the acquisition, Banca Monte dei Paschi di Siena S.p.A. will acquire all of the ordinary shares of Banco BPM S.p.A. through a voluntary full public exchange offer. The exchange ratio has been set at 1.567 newly issued shares of Banca Monte dei Paschi di Siena S.p.A. for each existing share of Banco BPM. In a related transaction, Banca Monte dei Paschi di Siena S.p.A. proposed to acquire Banca Generali S.p.A. On full acceptance of both offers, and taking into account the effects of the merger of Mediobanca anca di Credito Finanziario S.p.A. in Banca Monte dei Paschi di Siena , the current Banca Monte dei Paschi di Siena shareholders would hold approximately 50.1% of the combined group, Banco BPM shareholders approximately 37.2% and Banca Generali shareholders approximately 12.7%. Fondazione Cassa di Risparmio di Lucca, Fondazione Cassa di Risparmio di Alessandria, Fondazione ENPAM, Fondazione Cassa di Risparmio di Carpi, Fondazione Cassa di Risparmio di Reggio Emilia Pietro Manodori, Inarcassa – Cassa Nazionale di Previdenza ed Assistenza per ingegneri e architetti liberi professionisti and Cassa Nazionale di Previdenzae Assistenza forense, which together hold approximately 89.95 million shares of Banco BPM S.p.A., representing 5.93% of Banco BPM S.p.A.'s share capital have supported the acquisition. In any event on closing of the offer, if Banca Monte dei Paschi di Siena S.p.A. achieves at least 90% of the Banco BPM S.p.A.'s share capital, Banca Monte dei Paschi di Siena S.p.A. intends to achieve the delisting of the Banco BPM S.p.A. Shares from Euronext Milan. The transaction is subject to approval by the shareholders of Banca Monte dei Paschi di Siena S.p.A., approval by Commissione Nazionale per le Società e la Borsa (CONSOB) and obtaining a minimum acceptance of 50% of the Banco BPM S.p.A.'s share capital plus one share. The deal has been approved by the board of directors of Banca Monte dei Paschi di Siena S.p.A. The transaction is expected to close by mid-February 2027. The combined Offers are expected to generate around 11% accretion in 2028 EPS taking into account the full realisation of expected synergies. UBS Europe SE, Italian Branch acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. BofA Securities Europe SA acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Vitale&Co. S.P.A. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Keefe, Bruyette & Woods, Inc. acted as financial advisor to Banca Monte dei Paschi di Siena S.p.A. Bonelli Erede Pappalardo Studio Legale acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. White & Case LLP acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. Clifford Chance Studio Legale Associato acted as legal advisor to Banca Monte dei Paschi di Siena S.p.A. PricewaterhouseCoopers SpA acted as fairness opinion provider to Banca Monte dei Paschi di Siena S.p.A.

French (CAC) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

Great earnings season, but are the earnings real?

Latest News

BNP Paribas and KB Kookmin Bank Reportedly Eye Stakes in Techcombank

Korea Gas Corporation (KOSE:A036460), PETRONAS Australia Pty Limited, Santos Limited (ASX:STO) and TotalEnergies SE (ENXTPA:TTE) entered into binding agreements to acquire Greater Meridian CSG project from Mitsui E&P Australia Pty Ltd and WestSide Corporation Limited for AUD 430 million.

Schneider Electric Announces Launch of Schneider Charge, Smart Level 2 Residential EV Charger

GLE: Capital Return And Dividend Policy Will Test Execution And Profitability

STMicroelectronics and NUS Unveil Four-Year Corporate Lab for Edge AI Research in Singapore

Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) proposed to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A. (ENXTPA:ACA), BlackRock, Inc. (NYSE:BLK) and others for €27.7 billion.

Ipsen S.A. (ENXTPA:IPN) completed the acquisition of Kartos Therapeutics, Inc.

LVMH Sees Double-Digit China Luxury Sales Decline as Wealth Tax Campaign Bites

Dassault Systèmes Partners With Silvaco to Develop Digital Twin Tools for Chip Manufacturing

Engie Expands Texas Renewable Energy Supply With New Solar Deal for QTS Data Centers

EDEN: Cost Discipline And Float Income Will Support Measured Post 2026 Recovery

RMS: Leather Expansion And Brand Strength Will Sustain Premium Future P/E

HO: Defence And Cyber Resilience Partnership Will Support Future Earnings And Execution Risks

LR: Data Center Expansion And Acquisition Risks Will Restrain Optimistic Pricing

ORA: Fair Outlook Weighs Data Centre Venture And French Stake Sale

First half dividend increased to €1.10