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

Greek (ASE) Market Analysis & Valuation

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies136
  • 7D0.8%
  • 3M12.0%
  • 1Y43.9%
  • YTD4.4%

The Energy sector gained 4.8% while the market remained flat over the last week. Meanwhile, the market is actually up 44% over the past year. Looking forward, earnings are forecast to grow by 9.4% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026€123.8b€88.6b€9.8b14.4x12.7x1.4x
Wed, 24 Dec 2025€108.1b€86.0b€8.8b14.6x12.3x1.3x
Fri, 21 Nov 2025€112.3b€88.5b€8.9b14.8x12.6x1.3x
Sun, 19 Oct 2025€108.8b€88.5b€8.7b15x12.5x1.2x
Tue, 16 Sep 2025€110.7b€88.3b€8.7b15.8x12.7x1.3x
Thu, 14 Aug 2025€113.7b€87.2b€8.8b16.2x12.9x1.3x
Sat, 12 Jul 2025€105.6b€88.0b€8.9b14.2x11.9x1.2x
Mon, 09 Jun 2025€99.7b€88.0b€9.0b14.1x11.1x1.1x
Wed, 07 May 2025€92.4b€87.3b€9.1b12.7x10.1x1.1x
Fri, 04 Apr 2025€93.3b€86.9b€9.4b12.2x10x1.1x
Sun, 02 Mar 2025€89.9b€86.5b€9.5b12.3x9.4x1x
Tue, 28 Jan 2025€87.8b€86.5b€9.6b12.2x9.1x1x
Thu, 26 Dec 2024€82.5b€87.0b€9.6b11.3x8.6x0.9x
Sat, 23 Nov 2024€79.7b€86.9b€9.5b11.1x8.3x0.9x
Mon, 21 Oct 2024€82.1b€86.4b€10.4b11.5x7.9x0.9x
Wed, 18 Sep 2024€81.7b€85.3b€10.2b11.7x8x1x
Fri, 16 Aug 2024€81.8b€84.2b€10.2b11.6x8x1x
Sun, 14 Jul 2024€83.7b€83.3b€10.0b11.5x8.4x1x
Tue, 11 Jun 2024€84.3b€84.2b€10.0b12.1x8.5x1x
Thu, 09 May 2024€85.3b€84.6b€9.9b12.4x8.6x1x
Sat, 06 Apr 2024€80.9b€84.9b€9.4b12.4x8.6x1x
Mon, 04 Mar 2024€82.8b€85.2b€9.8b12.5x8.4x1x
Wed, 31 Jan 2024€77.0b€85.9b€9.2b12.2x8.4x0.9x
Fri, 29 Dec 2023€73.3b€87.1b€9.2b12.3x8x0.8x
Sun, 26 Nov 2023€72.1b€87.1b€9.1b12.3x7.9x0.8x
Tue, 24 Oct 2023€67.5b€90.7b€8.2b11.8x8.2x0.7x
Thu, 21 Sep 2023€67.9b€91.5b€7.9b12.7x8.6x0.7x
Sat, 19 Aug 2023€72.0b€94.4b€8.8b12.7x8.1x0.8x
Mon, 17 Jul 2023€74.5b€94.7b€8.8b12.9x8.5x0.8x
Wed, 14 Jun 2023€71.3b€94.8b€8.8b13.1x8.1x0.8x
Fri, 12 May 2023€63.7b€92.2b€8.3b12x7.7x0.7x
Sun, 09 Apr 2023€61.8b€90.2b€8.8b11.9x7x0.7x
Tue, 07 Mar 2023€62.8b€86.9b€7.6b11.9x8.3x0.7x
Thu, 02 Feb 2023€59.8b€93.0b€10.8b11.2x5.6x0.6x
Price to Earnings Ratio

5.6x


Total Market Cap: €59.8bTotal Earnings: €10.8bTotal Revenue: €93.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Greek Market Price to Earnings3Y Average 9.2x202420252026
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 12.7x which is higher than its 3-year average PE of 9.2x.
Past Earnings Growth
  • The earnings for Greek listed companies have declined 3.2% 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 Market0.21%
Energy6.71%
Utilities3.30%
Industrials3.02%
Healthcare2.81%
Tech0.60%
Real Estate0.43%
Consumer Staples0.16%
Consumer Discretionary-0.17%
Materials-0.20%
Financials-1.56%
Telecom-2.22%
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 39.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 35.7%, which is higher than its past year's earnings growth of 19.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 3.7% 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
MOH Motor Oil (Hellas) Corinth Refineries€32.9211.6%
+€370.5m		56.0%PE6.9xEnergy
PPC Public Power€19.304.3%
+€273.7m		49.0%PE18.3xUtilities
AKTR Aktor Societe Anonyme Holding Company Technical and Energy Projects€10.809.6%
+€193.8m		105.3%PE177.8xIndustrials
GEKTERNA Gek Terna€32.126.1%
+€186.0m		73.6%PE91xIndustrials
MTLN Metlen Energy & Metals€43.301.3%
+€72.3m		n/aPE9.5xIndustrials
See more

Market Insights

Header cover image
How to invest when commodity prices get messy ⚖️
Richard Bowman avatar
Richard Bowman
|
|
From miners to energy, 2026 may reward structure and margins over spot price bets.
Continue reading
Why Didn’t Oil React to Venezuela? 🇻🇪
Last Week

Why Didn’t Oil React to Venezuela? 🇻🇪

Latest News

ELHA
€4.09
Elvalhalcor Hellenic Copper and Aluminium Industry
7D
-3.7%
1Y
98.3%

Elvalhalcor Hellenic Copper and Aluminium Industry (ATH:ELHA) Is Looking To Continue Growing Its Returns On Capital

Jan 26
Elvalhalcor Hellenic Copper and Aluminium Industry (ATH:ELHA) Is Looking To Continue Growing Its Returns On Capital
ALPHA
€3.89
Alpha Bank
7D
-2.1%
1Y
117.5%

ALPHA: Medium Term EPS Guidance Will Support Upside Case

Analysts have trimmed their price target on Alpha Bank to €4 from €4.10, citing updated fair value estimates and revised assumptions on revenue growth, profit margins, discount rates, and future P/E multiples. Analyst Commentary JPMorgan has reduced its price target on Alpha Bank to €4 from €4.10 while maintaining an Overweight stance, which signals that its analysts still see the shares as attractive at current levels even after revisiting their assumptions.
TITC
€55.40
Titan
7D
1.3%
1Y
22.3%

 Titan Cement International S.A. (TITC.AT): Greece's Leading Cement and Building Materials Producer

As of the close on January 21, 2026, TITC.AT traded at €54.40, near the upper end of its 52-week range (€33.80–€55.80), with a market capitalization of approximately €4.26 billion. This consolidated report reflects my personal analysis and view, drawing on the latest available data as of this date.
GEKTERNA
€32.12
Gek Terna
7D
6.1%
1Y
73.6%

Gek Terna S.A.'s (ATH:GEKTERNA) Shares Bounce 27% But Its Business Still Trails The Industry

Jan 23
Gek Terna S.A.'s (ATH:GEKTERNA) Shares Bounce 27% But Its Business Still Trails The Industry
HTO
€16.40
Hellenic Telecommunications Organization
7D
-2.3%
1Y
12.3%
EUROB
€4.02
Eurobank
7D
-1.1%
1Y
66.6%
MOH
€32.92
Motor Oil (Hellas) Corinth Refineries
7D
11.6%
1Y
56.0%

We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its Debt

Jan 21
We Think Motor Oil (Hellas) Corinth Refineries (ATH:MOH) Is Taking Some Risk With Its Debt
AIA
€11.38
Athens International Airport
7D
1.8%
1Y
34.2%

AIA: Share Buyback And Governance Changes Will Shape Balanced Future Outlook

Analysts have nudged their price target for Athens International Airport higher to €10.81 from €10.74, reflecting updated views on its fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Athens International Airport S.A. plans a board meeting on January 12, 2026 to appoint Panagiotis Tampourlos to the Audit Committee, Remuneration and Nomination Committee, and Personnel Committee, replacing the late Robert Goebbels, and to reorganize other committees (Key Developments).
PPC
€19.30
Public Power
7D
4.3%
1Y
49.0%

Is Public Power (ATH:PPC) Using Too Much Debt?

Jan 13
Is Public Power (ATH:PPC) Using Too Much Debt?
AEGN
€14.62
Aegean Airlines
7D
4.6%
1Y
36.4%

AEGN: Future Returns Will Rely On Stable Margins And Governance Oversight

Analysts have adjusted their price target on Aegean Airlines marginally, from €16.05 to €16.04, reflecting slightly updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples, without a major change in their overall view. What's in the News A board meeting is scheduled for December 12, 2025, to review the appointment of Ms. Natalia Nikolaidi as an independent non executive member of the audit committee for the remainder of its term of office.
ETE
€14.80
National Bank of Greece
7D
-3.3%
1Y
75.6%

ETE: Earnings Power And Board Changes Will Guide A Balanced Future Outlook

Analysts have nudged their price target for National Bank of Greece slightly higher, with fair value estimates moving from €14.33 to €14.46. They cited updated assumptions on discount rate, revenue growth, profit margin and forward P/E, alongside recent Street research that includes an upgrade to Buy with a €15.30 target.
MTLN
€43.30
Metlen Energy & Metals
7D
1.3%
1Y
n/a
BYLOT
€1.05
Bally's Intralot
7D
-1.5%
1Y
-2.2%
AKTR
€10.80
Aktor Societe Anonyme Holding Company Technical and Energy Projects
7D
9.6%
1Y
105.3%

Market Still Lacking Some Conviction On Aktor Societe Anonyme Holding Company Technical and Energy Projects (ATH:AKTR)

Dec 07
Market Still Lacking Some Conviction On Aktor Societe Anonyme Holding Company Technical and Energy Projects (ATH:AKTR)
OPAP
€17.70
Organization of Football Prognostics
7D
-1.0%
1Y
7.6%
PPA
€38.50
Piraeus Port Authority
7D
-3.8%
1Y
22.2%

Estimating The Intrinsic Value Of Piraeus Port Authority S.A. (ATH:PPA)

Nov 20
Estimating The Intrinsic Value Of Piraeus Port Authority S.A. (ATH:PPA)