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Icelandic (OMX) Market Analysis & Valuation

UpdatedJul 26, 2026
DataAggregated Company Financials
Companies26
  • 7D0.4%
  • 3M3.0%
  • 1Y10.6%
  • YTD0.04%

In the last week, the market has been flat. As for the longer term, the market has risen 11% in the past 12 months. Looking forward, earnings are expected to remain mostly flat in the next few years.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 26 Jul 2026ISK 1.9tISK 1.4tISK 147.6b13.2x12.8x1.4x
Tue, 23 Jun 2026ISK 1.9tISK 1.4tISK 152.2b14.2x12.4x1.3x
Thu, 21 May 2026ISK 1.9tISK 1.3tISK 139.5b13.1x13.3x1.4x
Sat, 18 Apr 2026ISK 1.8tISK 1.3tISK 133.3b17.1x13.8x1.4x
Mon, 16 Mar 2026ISK 1.9tISK 1.3tISK 133.3b16.9x14.1x1.4x
Wed, 11 Feb 2026ISK 2.1tISK 1.3tISK 134.7b16.7x15.3x1.6x
Fri, 09 Jan 2026ISK 2.0tISK 1.3tISK 136.9b16.4x14.7x1.5x
Sun, 07 Dec 2025ISK 1.9tISK 1.3tISK 137.1b15.5x13.7x1.4x
Tue, 04 Nov 2025ISK 1.7tISK 1.3tISK 132.8b14.7x13.1x1.3x
Thu, 02 Oct 2025ISK 1.8tISK 1.3tISK 124.0b16.6x14.3x1.4x
Sat, 30 Aug 2025ISK 1.7tISK 1.3tISK 123.0b16.3x14.1x1.3x
Mon, 28 Jul 2025ISK 1.8tISK 1.3tISK 121.2b16.9x14.4x1.4x
Wed, 25 Jun 2025ISK 1.7tISK 1.3tISK 118.1b16.4x14.5x1.3x
Fri, 23 May 2025ISK 1.8tISK 1.3tISK 119.6b17.4x14.7x1.4x
Sun, 20 Apr 2025ISK 1.7tISK 1.3tISK 122.9b15.2x13.8x1.3x
Tue, 18 Mar 2025ISK 1.8tISK 1.3tISK 119.0b17.9x15x1.4x
Thu, 13 Feb 2025ISK 1.9tISK 1.3tISK 110.4b17.8x17.6x1.5x
Sat, 11 Jan 2025ISK 1.9tISK 1.3tISK 107.7b15.7x17.8x1.5x
Mon, 09 Dec 2024ISK 2.3tISK 1.5tISK 109.5b17.2x20.9x1.5x
Wed, 06 Nov 2024ISK 2.2tISK 1.5tISK 105.3b19.6x21.3x1.5x
Fri, 04 Oct 2024ISK 2.1tISK 1.5tISK 104.0b17.8x20.6x1.4x
Sun, 01 Sep 2024ISK 2.0tISK 1.5tISK 105.8b16.2x19x1.3x
Tue, 30 Jul 2024ISK 2.0tISK 1.5tISK 118.7b15.9x16.7x1.3x
Thu, 27 Jun 2024ISK 1.9tISK 1.5tISK 127.7b16.4x15.2x1.3x
Sat, 25 May 2024ISK 1.9tISK 1.5tISK 131.5b15.2x14.8x1.3x
Mon, 22 Apr 2024ISK 2.0tISK 1.5tISK 131.2b16.2x15.3x1.3x
Wed, 20 Mar 2024ISK 2.0tISK 1.5tISK 130.5b16.3x15.7x1.4x
Fri, 16 Feb 2024ISK 2.2tISK 1.5tISK 133.0b16.8x16.3x1.4x
Sun, 14 Jan 2024ISK 2.2tISK 1.5tISK 148.2b15.3x14.6x1.4x
Tue, 12 Dec 2023ISK 2.0tISK 1.5tISK 148.1b14.2x13.5x1.3x
Thu, 09 Nov 2023ISK 1.7tISK 1.5tISK 155.2b13.7x11.1x1.1x
Sat, 07 Oct 2023ISK 1.8tISK 1.5tISK 150.1b15.7x12.2x1.2x
Mon, 04 Sep 2023ISK 2.0tISK 1.5tISK 145.1b16.9x14x1.3x
Wed, 02 Aug 2023ISK 2.0tISK 1.5tISK 148.6b15.7x13.7x1.3x
Price to Earnings Ratio

13.7x


Total Market Cap: ISK 2.0tTotal Earnings: ISK 148.6bTotal Revenue: ISK 1.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Icelandic Market Price to Earnings3Y Average 15.1x202420252026
Current Market PE
  • Investors are pessimistic on the Icelandic market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 12.8x which is lower than its 3-year average PE of 15.1x.
Past Earnings Growth
  • The earnings for Icelandic listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.6% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the Icelandic Market?

IS Market0.43%
Real Estate1.83%
Financials1.51%
Telecom1.42%
Tech0%0
Industrials-0.60%
Consumer Staples-0.60%
Consumer Discretionary-0.89%
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 479x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Financials sector.
  • They expect its earnings to decline by only 0.6% per year over the next 5 years, which isn't as bad as the other sectors.
  • This is a reversal from its past annual earnings growth rate of 15% per year.
  • In contrast, the Financials industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ARION Arion banki hfISK 195.002.6%
+ISK 6.6b		11.1%PB1.3xFinancials
REITIR Reitir fasteignafélag hfISK 113.503.2%
+ISK 2.4b		-0.4%PE7.2xReal Estate
KVIKA Kvika banki hfISK 13.553.0%
+ISK 1.7b		-25.3%PE10.6xFinancials
ISB Íslandsbanki hfISK 145.800.6%
+ISK 1.4b		15.3%PB1.2xFinancials
EIK Eik fasteignafélag hfISK 14.702.1%
+ISK 1.0b		5.8%PE9.8xReal Estate
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

ICEAIR
ISK 0.72
Icelandair Group hf
7D
-2.4%
1Y
-30.6%
ISF
ISK 164.00
Ísfélag hf
7D
0.6%
1Y
56.2%
REITIR
ISK 113.50
Reitir fasteignafélag hf
7D
3.2%
1Y
-0.4%
ARION
ISK 195.00
Arion banki hf
7D
2.6%
1Y
11.1%
Analysis Article • Jul 09

Arion banki hf (ICE:ARION) Ticks All The Boxes When It Comes To Earnings Growth

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
SVN
ISK 120.00
Sildarvinnslan Hf
7D
-0.8%
1Y
71.4%
HAMP
ISK 89.00
Hampiðjan hf
7D
1.1%
1Y
-22.6%
KVIKA
ISK 13.55
Kvika banki hf
7D
3.0%
1Y
-25.3%
SIMINN
ISK 12.75
Síminn hf
7D
2.4%
1Y
-6.3%
HAGA
ISK 120.00
Hagar hf
7D
-0.8%
1Y
13.2%
ISB
ISK 145.80
Íslandsbanki hf
7D
0.6%
1Y
15.3%
Narrative Update • Jun 26

ISB: Cost Restructuring And Market Making Agreement Will Shape Balanced Outlook

Analysts have lifted their fair value estimate for Íslandsbanki hf. from ISK 124 to ISK 138, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E.
EIM
ISK 252.00
Eimskipafélag Íslands hf
7D
-1.6%
1Y
-29.6%
BERA
ISK 15.10
Bera hf
7D
-1.9%
1Y
-15.2%
BRIM
ISK 89.00
Brim hf
7D
-1.1%
1Y
54.8%
EIK
ISK 14.70
Eik fasteignafélag hf
7D
2.1%
1Y
5.8%
SKEL
ISK 17.00
Skel fjárfestingafélag hf
7D
-1.2%
1Y
0%
FESTI
ISK 312.00
Festi hf
7D
-0.8%
1Y
3.3%