Narrative Update • Aug 11
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Greek (ASE) Market Analysis & Valuation
UpdatedAug 15, 2026
DataAggregated Company Financials
Companies138
- 7D1.2%
- 3M13.7%
- 1Y16.5%
- YTD13.0%
The market has climbed 1.2% over the last week, with theFinancials and Industrials sectors leading the way. The market is up 17% 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Aug 2026 | €154.1b | €101.6b | €11.2b | 13.2x | 13.8x | 1.5x |
| Tue, 14 Jul 2026 | €142.3b | €98.5b | €10.3b | 13.5x | 13.9x | 1.4x |
| Thu, 11 Jun 2026 | €123.3b | €89.3b | €10.0b | 14x | 12.3x | 1.4x |
| Sat, 09 May 2026 | €119.9b | €88.1b | €9.3b | 13.3x | 12.8x | 1.4x |
| Mon, 06 Apr 2026 | €108.4b | €87.1b | €9.8b | 13.3x | 11.1x | 1.2x |
| Wed, 04 Mar 2026 | €109.9b | €88.6b | €10.2b | 12.9x | 10.8x | 1.2x |
| Fri, 30 Jan 2026 | €127.0b | €88.6b | €9.8b | 14.6x | 13x | 1.4x |
| Sun, 28 Dec 2025 | €116.7b | €88.6b | €9.8b | 14.6x | 11.9x | 1.3x |
| Tue, 25 Nov 2025 | €115.1b | €88.9b | €9.3b | 14.8x | 12.4x | 1.3x |
| Thu, 23 Oct 2025 | €111.4b | €88.5b | €8.7b | 14.2x | 12.8x | 1.3x |
| Sat, 20 Sep 2025 | €109.4b | €88.4b | €8.9b | 15.2x | 12.3x | 1.2x |
| Mon, 18 Aug 2025 | €113.8b | €87.2b | €8.8b | 16.3x | 12.9x | 1.3x |
| Wed, 16 Jul 2025 | €105.2b | €88.0b | €8.9b | 14.2x | 11.9x | 1.2x |
| Fri, 13 Jun 2025 | €100.3b | €88.0b | €9.0b | 13.8x | 11.1x | 1.1x |
| Sun, 11 May 2025 | €94.2b | €87.7b | €9.3b | 12.8x | 10.1x | 1.1x |
| Tue, 08 Apr 2025 | €82.7b | €86.9b | €9.4b | 11x | 8.8x | 1x |
| Thu, 06 Mar 2025 | €91.2b | €86.6b | €9.5b | 12.3x | 9.6x | 1.1x |
| Sat, 01 Feb 2025 | €88.2b | €86.5b | €9.6b | 12.2x | 9.2x | 1x |
| Mon, 30 Dec 2024 | €83.0b | €86.8b | €9.6b | 11.8x | 8.6x | 1x |
| Wed, 27 Nov 2024 | €80.0b | €86.9b | €9.6b | 11.1x | 8.3x | 0.9x |
| Fri, 25 Oct 2024 | €79.7b | €86.4b | €10.4b | 11.6x | 7.7x | 0.9x |
| Sun, 22 Sep 2024 | €81.7b | €85.8b | €10.3b | 11.6x | 7.9x | 1x |
| Tue, 20 Aug 2024 | €82.3b | €84.2b | €10.2b | 11.6x | 8.1x | 1x |
| Thu, 18 Jul 2024 | €83.4b | €83.4b | €10.0b | 11.5x | 8.4x | 1x |
| Sat, 15 Jun 2024 | €81.4b | €84.3b | €10.0b | 11.7x | 8.2x | 1x |
| Mon, 13 May 2024 | €85.7b | €84.6b | €9.9b | 12.3x | 8.7x | 1x |
| Wed, 10 Apr 2024 | €82.9b | €84.9b | €9.4b | 12.5x | 8.8x | 1x |
| Fri, 08 Mar 2024 | €82.8b | €84.7b | €9.5b | 12.5x | 8.7x | 1x |
| Sun, 04 Feb 2024 | €78.7b | €85.9b | €9.2b | 12.2x | 8.5x | 0.9x |
| Tue, 02 Jan 2024 | €73.7b | €87.1b | €9.2b | 12.2x | 8x | 0.8x |
| Thu, 30 Nov 2023 | €72.8b | €87.1b | €9.1b | 12.2x | 8x | 0.8x |
| Sat, 28 Oct 2023 | €67.8b | €90.7b | €8.2b | 11.8x | 8.3x | 0.7x |
| Mon, 25 Sep 2023 | €69.3b | €91.6b | €7.9b | 13x | 8.8x | 0.8x |
| Wed, 23 Aug 2023 | €73.8b | €94.4b | €8.8b | 12.9x | 8.3x | 0.8x |
Price to Earnings Ratio
8.3x
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 13.8x which is higher than its 3-year average PE of 10.1x.
Past Earnings Growth
- The earnings for Greek listed companies have grown 8.1% per year over the last three years.
- Revenues for these companies have grown 2.5% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Greek Market?
| GR Market | 1.16% | |
| Energy | 6.98% | |
| Consumer Discretionary | 1.83% | |
| Real Estate | 1.44% | |
| Tech | 1.43% | |
| Financials | 1.29% | |
| Materials | -0.0041% | |
| Consumer Staples | -0.048% | |
| Telecom | -0.054% | |
| Industrials | -0.14% | |
| Healthcare | -0.20% | |
| Utilities | -0.54% | |
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 11.2x.
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 19% 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 | |
|---|---|---|---|---|---|---|
| ELPE HELLENiQ ENERGY Holdings | €14.57 | 11.5% +€458.0m | 71.0% | PE4.2x | Energy | |
| ALPHA Alpha Bank | €4.67 | 2.7% +€277.5m | 30.7% | PB1.2x | Financials | |
| ETE National Bank of Greece | €16.47 | 1.7% +€250.9m | 23.1% | PB1.5x | Financials | |
| MOH Motor Oil (Hellas) Corinth Refineries | €55.10 | 4.0% +€227.5m | 103.9% | PE6.7x | Energy | |
| ALWN Allwyn | €13.68 | 1.4% +€151.0m | -30.9% | PE53x | Consumer Discretionary |
