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Greek (ASE) Market Analysis & Valuation

UpdatedJul 17, 2026
DataAggregated Company Financials
Companies137
  • 7D-1.2%
  • 3M4.5%
  • 1Y18.6%
  • YTD6.6%

Over the last 7 days, the market has dropped 1.2%, driven by a decline of 3.4% in the Financials sector. On the other hand, the Energy has risen by 10%. In the last year, the market is actually up 19%. As for the next few years, earnings are expected to grow by 11% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 17 Jul 2026€139.7b€98.5b€10.3b13.5x13.6x1.4x
Sun, 14 Jun 2026€125.9b€89.3b€10.0b13.9x12.5x1.4x
Tue, 12 May 2026€120.6b€88.4b€9.3b13.3x12.9x1.4x
Thu, 09 Apr 2026€117.1b€87.1b€9.8b14.1x12x1.3x
Sat, 07 Mar 2026€113.2b€88.6b€10.3b13.3x11x1.3x
Mon, 02 Feb 2026€126.3b€88.6b€9.8b14.4x12.9x1.4x
Wed, 31 Dec 2025€116.5b€88.5b€9.8b14x11.9x1.3x
Fri, 28 Nov 2025€116.6b€89.0b€9.8b14.2x12x1.3x
Sun, 26 Oct 2025€110.3b€88.5b€8.7b15.1x12.6x1.2x
Tue, 23 Sep 2025€110.2b€88.4b€8.9b14.9x12.4x1.2x
Thu, 21 Aug 2025€112.4b€87.2b€8.8b16.3x12.8x1.3x
Sat, 19 Jul 2025€106.5b€87.9b€8.9b14.5x12x1.2x
Mon, 16 Jun 2025€99.2b€88.0b€8.9b13.8x11.1x1.1x
Wed, 14 May 2025€96.5b€87.7b€9.3b12.7x10.4x1.1x
Fri, 11 Apr 2025€86.0b€86.5b€9.3b11.4x9.3x1x
Sun, 09 Mar 2025€90.7b€86.5b€9.5b12.2x9.6x1x
Tue, 04 Feb 2025€88.2b€86.5b€9.6b11.8x9.2x1x
Thu, 02 Jan 2025€83.4b€86.5b€9.6b11.5x8.7x1x
Sat, 30 Nov 2024€79.1b€87.0b€9.6b11x8.2x0.9x
Mon, 28 Oct 2024€78.9b€86.5b€10.4b11.4x7.6x0.9x
Wed, 25 Sep 2024€83.5b€85.8b€10.3b11.6x8.1x1x
Fri, 23 Aug 2024€82.1b€84.1b€10.2b11.6x8.1x1x
Sun, 21 Jul 2024€84.5b€83.4b€10.0b11.5x8.5x1x
Tue, 18 Jun 2024€81.2b€84.3b€10.0b11.7x8.1x1x
Thu, 16 May 2024€86.0b€84.7b€9.9b12.6x8.7x1x
Sat, 13 Apr 2024€81.9b€84.4b€9.5b11.9x8.6x1x
Mon, 11 Mar 2024€83.5b€85.0b€9.7b12.5x8.6x1x
Wed, 07 Feb 2024€79.4b€84.8b€9.2b12x8.7x0.9x
Fri, 05 Jan 2024€74.9b€87.1b€9.2b12.2x8.2x0.9x
Sun, 03 Dec 2023€73.2b€87.1b€9.1b12.2x8x0.8x
Tue, 31 Oct 2023€68.1b€90.7b€8.2b11.9x8.3x0.8x
Thu, 28 Sep 2023€68.4b€91.2b€7.9b12.9x8.6x0.7x
Sat, 26 Aug 2023€73.5b€94.4b€8.8b13.4x8.3x0.8x
Mon, 24 Jul 2023€75.4b€94.9b€8.8b13.5x8.6x0.8x
Price to Earnings Ratio

8.6x


Total Market Cap: €75.4bTotal Earnings: €8.8bTotal Revenue: €94.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Greek Market Price to Earnings3Y Average 10x202420252026
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 13.6x which is higher than its 3-year average PE of 10.0x.
Past Earnings Growth
  • The earnings for Greek listed companies have grown 5.3% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Greek Market?

GR Market-1.20%
Energy10.30%
Telecom3.35%
Tech1.02%
Industrials0.33%
Real Estate-1.60%
Consumer Discretionary-1.82%
Consumer Staples-2.22%
Utilities-2.69%
Materials-3.05%
Financials-3.42%
Healthcare-3.74%
Sector PE
  • Investors favour the Healthcare sector the most for future growth which is trading above its 3-year average PE ratio.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 11.1x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 13% 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
MTLN Metlen Energy & Metals€43.586.9%
+€400.5m		n/aPE19.8xIndustrials
ELPE HELLENiQ ENERGY Holdings€11.884.3%
+€149.8m		52.5%PE8.1xEnergy
BELA Jumbo€23.483.4%
+€104.8m		-24.1%PE9.8xConsumer Discretionary
HTO Hellenic Telecommunications Organization€19.800.8%
+€63.0m		27.6%PE10.9xTelecom
KRI Kri-Kri Milk Industry€27.851.1%
+€9.9m		52.2%PE22.5xConsumer Staples
See more

Market Insights

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Latest News

ALWN
€13.00
Allwyn
7D
-2.7%
1Y
-32.3%
KRI
€27.85
Kri-Kri Milk Industry
7D
1.1%
1Y
52.2%
Narrative Update • Jul 16

KRI: Future Dividend Payout Will Likely Prove Unsustainably Generous

Analysts have raised their price target for Kri-Kri Milk Industry from €17.40 to €23.75, citing updated assumptions around revenue growth, profit margins, and a lower projected future P/E multiple in their valuation work. What's in the News Kri-Kri Milk Industry announced an annual dividend of €0.4500 per share.
ELHA
€4.26
Elvalhalcor Hellenic Copper and Aluminium Industry
7D
-13.1%
1Y
59.6%
Narrative Update • Jul 15

ELHA: Follow On Offering And Revised Assumptions Will Shape Balanced Outlook

Analysts have lifted their price target for Elvalhalcor Hellenic Copper and Aluminium Industry from €3.85 to €4.90, citing updated assumptions on revenue growth, profit margins and a higher future P/E multiple. What’s in the News for Elvalhalcor Hellenic Copper and Aluminium Industry Elvalhalcor Hellenic Copper and Aluminium Industry has filed a follow on equity offering of up to €364.5 million, with up to 75,000,000 common shares offered at a maximum price of €4.86 per share, according to a capital markets filing.
BELA
€23.48
Jumbo
7D
3.4%
1Y
-24.1%
ELPE
€11.88
HELLENiQ ENERGY Holdings
7D
4.3%
1Y
52.5%
PERF
€9.57
Performance Technologies
7D
3.0%
1Y
45.9%
TPEIR
€8.94
Piraeus Bank
7D
-3.4%
1Y
32.8%
Narrative Update • Jul 14

TPEIR: AI Hub Partnership Will Support Higher Profitability Expectations

Analysts have lifted their price target for Piraeus Bank from €11.85 to €12.10, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E as key drivers behind the change. What’s in the News for Piraeus Bank Piraeus Bank and Accenture expanded their collaboration with the launch of a dedicated AI Hub supported by Anthropic, aiming to accelerate AI use across the bank’s operations, customer experience, risk and compliance functions.
GEKTERNA
€42.80
Gek Terna
7D
-3.6%
1Y
98.9%
EUROB
€4.12
Eurobank
7D
-6.1%
1Y
29.6%
Narrative Update • Jul 07

EUROB: Buybacks And Refined Forecasts Will Shape A Balanced Upside Outlook

Eurobank's updated analyst price target edges higher to €4.82, supported by analysts' refreshed assumptions on fair value, discount rates, revenue growth, profit margins and future P/E levels, as reflected in recent target changes and rating updates from the Street. Analyst Commentary Recent Street research on Eurobank points to a mix of optimism on valuation and growth potential, alongside some caution on execution and pricing.
ALPHA
€3.85
Alpha Bank
7D
-6.2%
1Y
15.0%
Narrative Update • Jul 06

ALPHA: Share Buybacks And Margin Outlook Will Support Future Upside Potential

Analysts have lifted the Alpha Bank price target from €4.45 to €4.80, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E that align with recent Street research moves. What’s in the News for Alpha Bank Alpha Bank reports completion of a share buyback tranche from September 17, 2025 to December 31, 2025, repurchasing 27,812,020 shares, representing 1.2% of its share capital for €97.69 million under the program announced on September 17, 2025.
MTLN
€43.58
Metlen Energy & Metals
7D
6.9%
1Y
n/a
Narrative Update • Jun 26

MTLN: Defence Expansion And Buyback Programme Will Support Future Upside

The analyst price target for Metlen Energy & Metals has been cut from about €55.34 to roughly €51.13, with analysts citing updated assumptions for revenue growth, profit margins and future P/E that collectively support a slightly lower valuation, despite a reduced discount rate. What’s in the News for Metlen Energy & Metals METLEN inaugurated the new M Technologies production unit in Volos, expanding a vertically integrated defence industrial ecosystem across six units on a 100,000 sq.m. site with capabilities in raw material processing, manufacturing, assembly and support for complex defence applications.
HTO
€19.80
Hellenic Telecommunications Organization
7D
0.8%
1Y
27.6%
Narrative Update • Jun 26

HTO: Stable Revenue Trends And Margin Outlook Will Support Balanced Future Returns

Analysts have lifted their price target on Hellenic Telecommunications Organization to €21.50, supporting a fair value update to €19.91 as they factor in adjusted discount rate assumptions; a shift from earlier revenue decline expectations toward more stable trends; improved profit margin forecasts; and a slightly lower future P/E multiple. Analyst Commentary Recent commentary around Hellenic Telecommunications Organization centers on the updated €21.50 price target and how it aligns with views on earnings quality, valuation, and execution risk.
ETE
€14.58
National Bank of Greece
7D
-7.8%
1Y
22.2%
Narrative Update • Jun 18

ETE: Tight Research Range And Higher Future P E May Limit Near Term Moves

Analysts have nudged their fair value estimate for National Bank of Greece to €17.15 from €16.82, reflecting recent Street research in which price targets shifted, including a move to €17.10, as well as modest adjustments to assumptions for discount rate, revenue growth and future P/E, alongside a slightly lower profit margin input. Analyst Commentary Recent Street research around National Bank of Greece highlights a mix of optimism on execution and valuation, alongside some caution as price targets shift in both directions over time.
CREDIA
€0.93
CrediaBank
7D
-17.3%
1Y
-17.6%
MODA
€7.20
N. Varveris-Moda Bagno
7D
2.0%
1Y
61.1%
Analysis Article • May 13

N. Varveris-Moda Bagno's (ATH:MODA) Strong Earnings Are Of Good Quality

N. Varveris-Moda Bagno S.A. ( ATH:MODA ) just reported healthy earnings but the stock price didn't move much. Our...
QLCO
€5.55
Qualco Group
7D
1.8%
1Y
-3.1%