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Greek (ASE) Market Analysis & Valuation

UpdatedJan 08, 2026
DataAggregated Company Financials
Companies136
  • 7D2.6%
  • 3M3.7%
  • 1Y41.8%
  • YTD0.6%

Over the last 7 days, the market has risen 2.6%, driven by gains of 5.2% in the Financials sector. The market is up 42% over the last 12 months. As for the next few years, earnings are expected to grow by 10% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 08 Jan 2026€119.3b€88.5b€9.8b14.6x12.2x1.3x
Sat, 06 Dec 2025€115.5b€88.7b€9.8b13.9x11.8x1.3x
Mon, 03 Nov 2025€109.5b€88.4b€8.6b14.7x12.7x1.2x
Wed, 01 Oct 2025€109.9b€88.6b€8.9b14.3x12.4x1.2x
Fri, 29 Aug 2025€109.8b€87.1b€8.8b16x12.5x1.3x
Sun, 27 Jul 2025€105.8b€87.9b€8.9b15.2x11.9x1.2x
Tue, 24 Jun 2025€98.4b€88.1b€8.9b13.6x11.1x1.1x
Thu, 22 May 2025€99.0b€87.1b€9.0b13x11x1.1x
Sat, 19 Apr 2025€88.7b€86.8b€9.3b11.6x9.5x1x
Mon, 17 Mar 2025€94.6b€86.6b€9.5b12x10x1.1x
Wed, 12 Feb 2025€87.7b€86.5b€9.6b12.1x9.1x1x
Fri, 10 Jan 2025€85.9b€86.5b€9.6b12.4x8.9x1x
Sun, 08 Dec 2024€82.7b€87.7b€9.7b11.1x8.6x0.9x
Tue, 05 Nov 2024€78.8b€86.8b€10.5b11.4x7.5x0.9x
Thu, 03 Oct 2024€82.5b€86.4b€10.4b11.8x8x1x
Sat, 31 Aug 2024€81.2b€85.0b€10.3b11.5x7.9x1x
Mon, 29 Jul 2024€83.9b€83.4b€10.0b11.7x8.4x1x
Wed, 26 Jun 2024€81.7b€95.3b€11.3b11.9x7.2x0.9x
Fri, 24 May 2024€84.4b€84.0b€9.9b12.6x8.5x1x
Sun, 21 Apr 2024€81.4b€84.5b€9.5b11.7x8.6x1x
Tue, 19 Mar 2024€82.8b€85.4b€9.3b12.6x8.9x1x
Thu, 15 Feb 2024€82.0b€85.2b€9.4b12.1x8.7x1x
Sat, 13 Jan 2024€76.8b€87.1b€9.2b12.2x8.4x0.9x
Mon, 11 Dec 2023€72.6b€87.1b€9.1b12.6x7.9x0.8x
Wed, 08 Nov 2023€70.3b€90.4b€8.6b11.8x8.2x0.8x
Fri, 06 Oct 2023€67.0b€90.6b€8.1b11.6x8.3x0.7x
Sun, 03 Sep 2023€73.6b€91.4b€7.9b13.5x9.3x0.8x
Tue, 01 Aug 2023€75.2b€95.4b€8.9b13.1x8.4x0.8x
Thu, 29 Jun 2023€69.5b€94.7b€8.8b12.6x7.9x0.7x
Sat, 27 May 2023€68.6b€93.0b€8.4b11.8x8.2x0.7x
Mon, 24 Apr 2023€63.4b€90.5b€8.7b12x7.3x0.7x
Wed, 22 Mar 2023€60.7b€89.1b€8.8b11.6x6.9x0.7x
Fri, 17 Feb 2023€63.6b€93.0b€10.8b12.2x5.9x0.7x
Sun, 15 Jan 2023€57.0b€90.5b€10.5b11.3x5.4x0.6x
Price to Earnings Ratio

5.4x


Total Market Cap: €57.0bTotal Earnings: €10.5bTotal Revenue: €90.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Greek Market Price to Earnings3Y Average 9.1x202420252026
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 12.2x which is higher than its 3-year average PE of 9.1x.
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 Market2.58%
Financials5.21%
Materials4.31%
Healthcare3.68%
Consumer Staples1.67%
Industrials1.26%
Tech1.25%
Real Estate0.53%
Utilities0.41%
Telecom0.15%
Consumer Discretionary-0.34%
Energy-0.79%
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 44.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 35.6%, 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 3.1% 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
ETE National Bank of Greece€13.856.5%
+€769.2m		75.0%PB1.4xFinancials
EUROB Eurobank€3.605.1%
+€629.9m		53.5%PB1.3xFinancials
ALPHA Alpha Bank€3.795.9%
+€480.7m		119.5%PB1xFinancials
TPEIR Piraeus Financial Holdings€7.124.8%
+€402.9m		70.3%PB1xFinancials
ELHA Elvalhalcor Hellenic Copper and Aluminium Industry€4.2112.0%
+€168.7m		94.5%PE12.5xMaterials
See more

Market Insights

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Latest News

EUROB
€3.60
Eurobank
7D
5.1%
1Y
53.5%

EUROB: Raised Price View And Merger Timeline Will Support Bullish Case

Analysts have lifted their fair value estimate for Eurobank to €4.20 from €3.99689, broadly in line with a recent Street price target increase to €4.10, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent Street research reflects a constructive tone around Eurobank, with bullish analysts citing valuation support and execution as key reasons for lifting price targets closer to the updated fair value estimate.
ELPE
€8.63
HELLENiQ ENERGY Holdings
7D
3.2%
1Y
11.6%

These 4 Measures Indicate That HELLENiQ ENERGY Holdings (ATH:ELPE) Is Using Debt Extensively

Jan 06
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TPEIR
€7.12
Piraeus Financial Holdings
7D
4.8%
1Y
70.3%

TPEIR: Share Buybacks And Reverse Merger Will Drive Upside Into 2025

Analysts have lifted their price target for Piraeus Financial Holdings to €8.60 from €8.40, citing updated fair value estimates and refreshed assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Piraeus Financial Holdings has completed a share buyback tranche, repurchasing 13,858,095 shares, representing 1.11% of its share capital, for €100 million under the buyback announced on October 6, 2025 (Key Developments).
MOH
€30.20
Motor Oil (Hellas) Corinth Refineries
7D
-3.8%
1Y
42.1%

There Is A Reason Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Price Is Undemanding

Jan 05
There Is A Reason Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) Price Is Undemanding
ELHA
€4.21
Elvalhalcor Hellenic Copper and Aluminium Industry
7D
12.0%
1Y
94.5%

We Think Elvalhalcor Hellenic Copper and Aluminium Industry (ATH:ELHA) Can Stay On Top Of Its Debt

Jan 02
We Think Elvalhalcor Hellenic Copper and Aluminium Industry (ATH:ELHA) Can Stay On Top Of Its Debt
LAMPS
€45.20
Lampsa Hellenic Hotels
7D
-2.6%
1Y
21.5%
BELA
€27.70
Jumbo
7D
-0.7%
1Y
6.5%

Many Still Looking Away From Jumbo S.A. (ATH:BELA)

Dec 27
Many Still Looking Away From Jumbo S.A. (ATH:BELA)
CREDIA
€1.68
CrediaBank
7D
5.0%
1Y
115.3%
ETE
€13.85
National Bank of Greece
7D
6.5%
1Y
75.0%
TITC
€53.70
Titan
7D
2.3%
1Y
35.3%

TITC: Data Center Demand And Low Carbon Shift Will Drive Balanced Outlook

Analysts have raised their price target on Titan from approximately 52.69 dollars to 53.51 dollars, citing slightly stronger long term revenue growth expectations and modestly lower discount rates that more than offset a small downward tweak to profit margin assumptions. What's in the News TITAN Group is scaling its TITAN Edge low carbon cement and concrete solutions to serve the rapid build out of data centers in Europe and the United States, now supplying around 80% of projects in Greece and roughly 40% of new facilities in key US markets.
ALPHA
€3.79
Alpha Bank
7D
5.9%
1Y
119.5%

ALPHA: Execution On Cost Control Will Support Future Upside Potential

Analysts slightly reduced their price target on Alpha Bank to EUR 4.00 from EUR 4.10, citing a marginally higher fair value alongside modest tweaks to the discount rate, revenue growth expectations, profit margin outlook, and forward valuation assumptions. Analyst Commentary Despite the marginal reduction in the price target, bullish analysts continue to highlight a constructive view on Alpha Bank’s medium term trajectory, pointing to a mix of valuation support and execution progress on strategic initiatives.
AKTR
€9.66
Aktor Societe Anonyme Holding Company Technical and Energy Projects
7D
-1.4%
1Y
103.4%

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

Dec 07
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OPTIMA
€7.63
Optima bank
7D
-1.0%
1Y
79.1%
OPAP
€18.77
Organization of Football Prognostics
7D
-1.7%
1Y
18.8%
PRODEA
€5.80
Prodea Real Estate Investment Company Société Anonyme
7D
-1.7%
1Y
-10.1%
EYDAP
€7.62
Athens Water Supply and Sewerage
7D
-3.1%
1Y
28.7%