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Greek (ASE) Market Analysis & Valuation

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies134
  • 7D1.7%
  • 3M4.2%
  • 1Y42.2%
  • YTD35.3%

The market has climbed 1.7% in the last 7 days, lead by the Financials sector with a gain of 2.2%. The market is up 42% over the last 12 months. 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
Thu, 25 Dec 2025€108.1b€86.0b€8.8b14.6x12.3x1.3x
Sat, 22 Nov 2025€112.5b€88.6b€9.3b14.6x12.1x1.3x
Mon, 20 Oct 2025€108.8b€88.5b€8.7b15x12.5x1.2x
Wed, 17 Sep 2025€109.9b€88.3b€8.7b15.7x12.6x1.2x
Fri, 15 Aug 2025€113.8b€87.2b€8.8b16.3x12.9x1.3x
Sun, 13 Jul 2025€105.2b€88.0b€8.9b14.2x11.9x1.2x
Tue, 10 Jun 2025€99.7b€88.0b€9.0b14.1x11.1x1.1x
Thu, 08 May 2025€92.9b€87.5b€9.2b13x10.1x1.1x
Sat, 05 Apr 2025€88.8b€86.9b€9.4b11.6x9.5x1x
Mon, 03 Mar 2025€89.9b€86.5b€9.5b12.3x9.4x1x
Wed, 29 Jan 2025€87.5b€86.5b€9.6b12.1x9.1x1x
Fri, 27 Dec 2024€82.5b€87.0b€9.6b11.3x8.6x0.9x
Sun, 24 Nov 2024€79.7b€86.9b€9.6b11.1x8.3x0.9x
Tue, 22 Oct 2024€81.7b€86.4b€10.4b11.6x7.9x0.9x
Thu, 19 Sep 2024€81.2b€85.7b€10.3b11.4x7.9x0.9x
Sat, 17 Aug 2024€82.3b€84.2b€10.2b11.6x8.1x1x
Mon, 15 Jul 2024€83.7b€83.3b€10.0b11.5x8.4x1x
Wed, 12 Jun 2024€83.8b€84.2b€10.0b12x8.4x1x
Fri, 10 May 2024€85.5b€84.6b€9.9b12.3x8.6x1x
Sun, 07 Apr 2024€80.8b€84.9b€9.4b12.4x8.6x1x
Tue, 05 Mar 2024€83.5b€85.2b€9.8b12.4x8.5x1x
Thu, 01 Feb 2024€77.7b€85.9b€9.2b12.2x8.4x0.9x
Sat, 30 Dec 2023€73.7b€87.1b€9.2b12.4x8x0.8x
Mon, 27 Nov 2023€72.1b€87.1b€9.1b12.3x7.9x0.8x
Wed, 25 Oct 2023€67.5b€90.7b€8.2b11.9x8.2x0.7x
Fri, 22 Sep 2023€68.1b€91.6b€7.9b12.7x8.6x0.7x
Sun, 20 Aug 2023€72.0b€94.4b€8.8b13x8.1x0.8x
Tue, 18 Jul 2023€73.5b€94.7b€8.8b13.1x8.3x0.8x
Thu, 15 Jun 2023€71.6b€94.8b€8.8b12.9x8.1x0.8x
Sat, 13 May 2023€63.5b€92.3b€8.3b11.9x7.6x0.7x
Mon, 10 Apr 2023€61.8b€90.3b€8.8b12.1x7x0.7x
Wed, 08 Mar 2023€62.5b€86.9b€7.6b11.9x8.2x0.7x
Fri, 03 Feb 2023€60.0b€93.0b€10.8b11.2x5.6x0.6x
Sun, 01 Jan 2023€54.8b€90.5b€10.5b11x5.2x0.6x
Price to Earnings Ratio

5.2x


Total Market Cap: €54.8bTotal Earnings: €10.5bTotal Revenue: €90.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Greek Market Price to Earnings3Y Average 9x202320242025
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 12.3x which is higher than its 3-year average PE of 9.0x.
Past Earnings Growth
  • The earnings for Greek listed companies have declined 5.9% 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 Market1.73%
Materials4.44%
Energy3.12%
Consumer Staples2.64%
Financials2.19%
Consumer Discretionary1.64%
Industrials1.33%
Healthcare1.01%
Tech0.84%
Utilities0.14%
Real Estate-0.054%
Telecom-0.29%
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 48.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.7%, 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 Energy sector is expected to see its earnings decline by 2.3% 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
ALPHA Alpha Bank€3.655.7%
+€447.9m		131.3%PB1xFinancials
EUROB Eurobank€3.551.6%
+€199.7m		59.5%PB1.3xFinancials
BELA Jumbo€28.223.2%
+€118.2m		12.2%PE12xConsumer Discretionary
TITC Titan€50.903.1%
+€115.3m		27.3%PE16.1xMaterials
ETE National Bank of Greece€13.340.9%
+€108.5m		75.7%PB1.3xFinancials
See more

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EUROB
€3.55
Eurobank
7D
1.6%
1Y
59.5%
CREDIA
€1.57
CrediaBank
7D
-2.4%
1Y
137.5%
ELLAKTOR
€1.32
Ellaktor
7D
-29.7%
1Y
-32.9%
ETE
€13.34
National Bank of Greece
7D
0.9%
1Y
75.7%
TITC
€50.90
Titan
7D
3.1%
1Y
27.3%

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
€3.65
Alpha Bank
7D
5.7%
1Y
131.3%

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.
ELPE
€8.50
HELLENiQ ENERGY Holdings
7D
2.5%
1Y
18.2%

ELPE: Refining Margins And Dividend Prospects Will Guide Future Share Performance

Analysts have nudged their fair value estimate for HELLENiQ ENERGY Holdings higher to about EUR 8.73 from EUR 8.48, citing the stock's prior underperformance, a more favorable refining outlook, and a willingness to apply a slightly richer future earnings multiple, despite moderating growth and margin expectations. Analyst Commentary Recent Street research reflects a more balanced stance on HELLENiQ ENERGY Holdings, with upward revisions to price targets and ratings aligning with the increased fair value estimate, but also highlighting execution and cyclical risks that could cap upside.
MOH
€31.38
Motor Oil (Hellas) Corinth Refineries
7D
2.1%
1Y
55.7%
OPAP
€18.52
Organization of Football Prognostics
7D
1.0%
1Y
19.5%
BELA
€28.22
Jumbo
7D
3.2%
1Y
12.2%

Investors Should Be Encouraged By Jumbo's (ATH:BELA) Returns On Capital

Nov 20
Investors Should Be Encouraged By Jumbo's (ATH:BELA) Returns On Capital
FRIGO
€0.41
FrigoglassI.C
7D
-9.1%
1Y
81.4%

Is FrigoglassI.C (ATH:FRIGO) Using Too Much Debt?

Oct 28
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PRODEA
€5.85
Prodea Real Estate Investment Company Société Anonyme
7D
-0.8%
1Y
-14.0%
EYDAP
€7.67
Athens Water Supply and Sewerage
7D
-1.0%
1Y
30.9%
NOVAL
€2.84
Noval Property Real Estate Investment
7D
-2.1%
1Y
23.5%
DAIOS
€6.95
Daios Plastics
7D
-4.8%
1Y
97.4%
CAIROMEZ
€0.42
Cairo Mezz
7D
-4.4%
1Y
1.0%