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Greek (ASE) Market Analysis & Valuation
UpdatedDec 12, 2025
DataAggregated Company Financials
Companies135
- 7D1.0%
- 3M3.0%
- 1Y42.6%
- YTD36.8%
In the last week, the market has stayed flat, however the Energy sector stood out, gaining 3.9%. As for the longer term, the market has risen 43% in the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.
Market Valuation and Performance
Has the Greek Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 12 Dec 2025 | €116.0b | €88.5b | €9.8b | 14.2x | 11.9x | 1.3x |
| Sun, 09 Nov 2025 | €108.8b | €88.3b | €8.6b | 14.5x | 12.7x | 1.2x |
| Tue, 07 Oct 2025 | €111.2b | €88.4b | €8.7b | 14x | 12.8x | 1.3x |
| Thu, 04 Sep 2025 | €109.8b | €86.5b | €8.7b | 15.8x | 12.6x | 1.3x |
| Sat, 02 Aug 2025 | €98.8b | €82.3b | €8.3b | 14.5x | 11.9x | 1.2x |
| Mon, 30 Jun 2025 | €94.6b | €86.3b | €8.3b | 13.7x | 11.4x | 1.1x |
| Wed, 28 May 2025 | €99.9b | €87.9b | €9.1b | 12.9x | 11x | 1.1x |
| Fri, 25 Apr 2025 | €92.1b | €86.8b | €9.3b | 12x | 9.9x | 1.1x |
| Sun, 23 Mar 2025 | €94.5b | €86.8b | €9.5b | 12.3x | 9.9x | 1.1x |
| Tue, 18 Feb 2025 | €90.6b | €86.5b | €9.6b | 12.4x | 9.4x | 1x |
| Thu, 16 Jan 2025 | €85.6b | €86.5b | €9.6b | 12.4x | 8.9x | 1x |
| Sat, 14 Dec 2024 | €84.5b | €87.1b | €9.7b | 11.6x | 8.8x | 1x |
| Mon, 11 Nov 2024 | €79.9b | €87.1b | €10.6b | 11.4x | 7.5x | 0.9x |
| Wed, 09 Oct 2024 | €80.8b | €86.4b | €10.4b | 11.5x | 7.8x | 0.9x |
| Fri, 06 Sep 2024 | €82.6b | €85.4b | €10.3b | 11.5x | 8x | 1x |
| Sun, 04 Aug 2024 | €82.0b | €83.6b | €10.2b | 11.5x | 8.1x | 1x |
| Tue, 02 Jul 2024 | €81.9b | €83.3b | €10.0b | 11.5x | 8.2x | 1x |
| Thu, 30 May 2024 | €83.0b | €84.8b | €9.9b | 12.7x | 8.4x | 1x |
| Sat, 27 Apr 2024 | €84.8b | €84.3b | €9.6b | 12.1x | 8.8x | 1x |
| Mon, 25 Mar 2024 | €83.1b | €85.5b | €9.3b | 12.7x | 9x | 1x |
| Wed, 21 Feb 2024 | €82.7b | €85.4b | €9.4b | 12.3x | 8.8x | 1x |
| Fri, 19 Jan 2024 | €76.2b | €87.1b | €9.2b | 12.2x | 8.3x | 0.9x |
| Sun, 17 Dec 2023 | €73.5b | €87.1b | €9.2b | 12.3x | 8x | 0.8x |
| Tue, 14 Nov 2023 | €69.2b | €88.6b | €9.0b | 11.2x | 7.6x | 0.8x |
| Thu, 12 Oct 2023 | €67.5b | €90.6b | €8.1b | 11.5x | 8.3x | 0.7x |
| Sat, 09 Sep 2023 | €71.4b | €91.6b | €7.9b | 13x | 9x | 0.8x |
| Mon, 07 Aug 2023 | €74.8b | €94.6b | €8.8b | 13.2x | 8.5x | 0.8x |
| Wed, 05 Jul 2023 | €73.1b | €94.7b | €8.8b | 12.9x | 8.3x | 0.8x |
| Fri, 02 Jun 2023 | €68.1b | €94.0b | €8.8b | 12.1x | 7.8x | 0.7x |
| Sun, 30 Apr 2023 | €61.8b | €92.4b | €8.6b | 12x | 7.2x | 0.7x |
| Tue, 28 Mar 2023 | €59.9b | €90.2b | €8.7b | 11.6x | 6.8x | 0.7x |
| Thu, 23 Feb 2023 | €63.9b | €93.0b | €10.8b | 12.2x | 5.9x | 0.7x |
| Sat, 21 Jan 2023 | €57.5b | €90.5b | €10.5b | 11.6x | 5.5x | 0.6x |
| Mon, 19 Dec 2022 | €53.9b | €90.5b | €10.5b | 10.7x | 5.1x | 0.6x |
Price to Earnings Ratio
5.1x
Current Market PE
- Investors are optimistic on the Greek market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 11.9x which is higher than its 3-year average PE of 8.9x.
Past Earnings Growth
- The earnings for Greek listed companies have declined 2.5% per year over the last three years.
- Meanwhile revenues have been flat.
- This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.
Sector Trends
Which sectors have driven the changes within the Greek Market?
| GR Market | 0.96% | |
| Energy | 3.86% | |
| Tech | 3.49% | |
| Materials | 3.05% | |
| Consumer Staples | 1.71% | |
| Consumer Discretionary | 0.83% | |
| Financials | 0.76% | |
| Industrials | 0.72% | |
| Utilities | 0.67% | |
| Healthcare | -0.21% | |
| Real Estate | -0.28% | |
| Telecom | -0.92% | |
Sector PE
- Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 52.2x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 27.8%, which is higher than its past year's earnings growth of 8.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 28% over the next 5 years.
- This is better than its past earnings growth rate of 8.7% per year.
- In contrast, the Telecom sector is expected to see its earnings grow by 2.4% 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 | Sector | |
|---|---|---|---|---|---|---|
| TPEIR Piraeus Financial Holdings | €7.30 | 2.6% +€232.3m | 86.7% | PB1x | Financials | |
| ETE National Bank of Greece | €13.64 | 1.4% +€171.8m | 75.5% | PB1.4x | Financials | |
| CREDIA CrediaBank | €1.64 | 6.5% +€161.8m | 137.0% | PB2.7x | Financials | |
| MOH Motor Oil (Hellas) Corinth Refineries | €31.00 | 4.7% +€151.7m | 51.2% | PE6.5x | Energy | |
| ELHA Elvalhalcor Hellenic Copper and Aluminium Industry | €3.65 | 8.8% +€110.6m | 94.1% | PE10.9x | Materials |
