Cautious Investors Not Rewarding Hellenic Telecommunications Organization S.A.'s (ATH:HTO) Performance Completely
Jan 20
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Greek (ASE) Market Analysis & Valuation
UpdatedJan 20, 2026
DataAggregated Company Financials
Companies136
- 7D1.8%
- 3M11.6%
- 1Y44.9%
- YTD4.1%
The market is up 1.8% over the last week, with the Financials sector leading the way, up 4.6%. Meanwhile, the Consumer Discretionary sector has underperformed, shrinking 4.0% in that time. In the last year, the market has climbed 45%. Looking forward, earnings are forecast to grow by 9.8% annually.
Market Valuation and Performance
Has the Greek Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 20 Jan 2026 | €123.4b | €88.6b | €9.8b | 14.1x | 12.6x | 1.4x |
| Thu, 18 Dec 2025 | €102.3b | €85.5b | €8.4b | 14.2x | 12.1x | 1.2x |
| Sat, 15 Nov 2025 | €112.5b | €88.4b | €8.7b | 14.5x | 12.9x | 1.3x |
| Mon, 13 Oct 2025 | €114.0b | €88.4b | €8.7b | 15.6x | 13.1x | 1.3x |
| Wed, 10 Sep 2025 | €108.4b | €86.6b | €8.7b | 15.6x | 12.4x | 1.3x |
| Fri, 08 Aug 2025 | €110.4b | €87.9b | €8.9b | 15.5x | 12.5x | 1.3x |
| Sun, 06 Jul 2025 | €102.8b | €88.0b | €8.9b | 14x | 11.6x | 1.2x |
| Tue, 03 Jun 2025 | €98.9b | €87.7b | €9.0b | 13x | 11x | 1.1x |
| Thu, 01 May 2025 | €91.7b | €86.8b | €9.4b | 12.4x | 9.8x | 1.1x |
| Sat, 29 Mar 2025 | €96.5b | €87.1b | €9.4b | 12.4x | 10.3x | 1.1x |
| Mon, 24 Feb 2025 | €90.8b | €86.7b | €9.6b | 12.3x | 9.5x | 1x |
| Wed, 22 Jan 2025 | €87.3b | €86.5b | €9.6b | 12.1x | 9.1x | 1x |
| Fri, 20 Dec 2024 | €83.1b | €87.0b | €9.6b | 11.3x | 8.6x | 1x |
| Sun, 17 Nov 2024 | €80.1b | €87.8b | €10.6b | 11.6x | 7.6x | 0.9x |
| Tue, 15 Oct 2024 | €80.5b | €86.4b | €10.4b | 11.5x | 7.8x | 0.9x |
| Thu, 12 Sep 2024 | €81.1b | €85.6b | €10.4b | 11.3x | 7.8x | 0.9x |
| Sat, 10 Aug 2024 | €79.7b | €84.2b | €10.2b | 11.5x | 7.8x | 0.9x |
| Mon, 08 Jul 2024 | €83.0b | €83.3b | €10.0b | 11.5x | 8.3x | 1x |
| Wed, 05 Jun 2024 | €82.1b | €84.2b | €9.9b | 12.1x | 8.3x | 1x |
| Fri, 03 May 2024 | €84.3b | €84.4b | €9.8b | 12.2x | 8.6x | 1x |
| Sun, 31 Mar 2024 | €82.6b | €85.4b | €9.3b | 12.5x | 8.9x | 1x |
| Tue, 27 Feb 2024 | €82.0b | €85.4b | €9.6b | 12.3x | 8.6x | 1x |
| Thu, 25 Jan 2024 | €77.5b | €87.1b | €9.2b | 12.2x | 8.5x | 0.9x |
| Sat, 23 Dec 2023 | €73.6b | €87.1b | €9.2b | 12.4x | 8x | 0.8x |
| Mon, 20 Nov 2023 | €71.8b | €88.3b | €9.1b | 11.6x | 7.9x | 0.8x |
| Wed, 18 Oct 2023 | €67.6b | €90.7b | €8.2b | 11.5x | 8.3x | 0.7x |
| Fri, 15 Sep 2023 | €69.7b | €91.5b | €7.9b | 12.7x | 8.8x | 0.8x |
| Sun, 13 Aug 2023 | €72.9b | €94.4b | €8.8b | 12.9x | 8.2x | 0.8x |
| Tue, 11 Jul 2023 | €72.4b | €94.7b | €8.8b | 12.9x | 8.2x | 0.8x |
| Thu, 08 Jun 2023 | €70.5b | €95.1b | €8.8b | 12.5x | 8x | 0.7x |
| Sat, 06 May 2023 | €62.9b | €92.3b | €8.6b | 12x | 7.3x | 0.7x |
| Mon, 03 Apr 2023 | €60.9b | €90.2b | €8.7b | 11.6x | 7x | 0.7x |
| Wed, 01 Mar 2023 | €65.3b | €89.5b | €10.4b | 12.2x | 6.3x | 0.7x |
| Fri, 27 Jan 2023 | €58.6b | €90.5b | €10.5b | 11.3x | 5.6x | 0.6x |
Price to Earnings Ratio
5.6x
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 12.6x 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 Market | 1.84% | |
| Financials | 4.58% | |
| Industrials | 2.57% | |
| Materials | 0.80% | |
| Energy | 0.75% | |
| Utilities | 0.74% | |
| Real Estate | -0.02% | |
| Consumer Staples | -1.28% | |
| Tech | -1.30% | |
| Healthcare | -1.98% | |
| Telecom | -2.10% | |
| Consumer Discretionary | -4.03% | |
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 41.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 34.5%, 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 34% 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 3.2% 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 | |
|---|---|---|---|---|---|---|
| GEKTERNA Gek Terna | €30.28 | 18.7% +€477.9m | 63.5% | PE85.8x | Industrials | |
| EUROB Eurobank | €3.92 | 3.4% +€464.1m | 58.3% | PB1.4x | Financials | |
| ETE National Bank of Greece | €14.78 | 3.5% +€447.1m | 74.4% | PB1.5x | Financials | |
| TPEIR Piraeus Bank | €8.04 | 2.5% +€239.8m | 84.2% | PB1.1x | Financials | |
| PPC Public Power | €18.52 | 2.0% +€127.5m | 44.6% | PE17.5x | Utilities |
