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Icelandic (OMX) Market Analysis & Valuation

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies25
  • 7D-1.1%
  • 3M2.3%
  • 1Y0.8%
  • YTD-0.8%

The market has stayed flat over the 7 days. As for the longer term, the market has also been flat over the past year. As for the next few years, earnings are forecast to decline by 1.1% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025ISK 1.9tISK 1.3tISK 136.9b15.3x13.6x1.4x
Thu, 13 Nov 2025ISK 1.8tISK 1.3tISK 133.5b15.8x13.4x1.4x
Sat, 11 Oct 2025ISK 1.8tISK 1.3tISK 132.5b17.1x13.6x1.4x
Mon, 08 Sep 2025ISK 1.8tISK 1.3tISK 123.2b16.8x14.4x1.4x
Wed, 06 Aug 2025ISK 1.7tISK 1.3tISK 128.0b16.9x13.6x1.3x
Fri, 04 Jul 2025ISK 1.7tISK 1.3tISK 117.5b17.2x14.8x1.4x
Sun, 01 Jun 2025ISK 1.8tISK 1.3tISK 118.2b18.7x15.2x1.4x
Tue, 29 Apr 2025ISK 1.7tISK 1.3tISK 122.9b15.3x13.8x1.3x
Thu, 27 Mar 2025ISK 1.8tISK 1.3tISK 120.8b19x15.1x1.4x
Sat, 22 Feb 2025ISK 1.9tISK 1.3tISK 117.1b17.6x16.4x1.5x
Mon, 20 Jan 2025ISK 1.9tISK 1.3tISK 108.0b15.9x17.5x1.5x
Wed, 18 Dec 2024ISK 2.3tISK 1.5tISK 109.4b18x21.4x1.5x
Fri, 15 Nov 2024ISK 2.3tISK 1.5tISK 108.3b17.1x21.1x1.5x
Sun, 13 Oct 2024ISK 2.1tISK 1.5tISK 104.0b17.9x20.5x1.4x
Tue, 10 Sep 2024ISK 2.0tISK 1.5tISK 105.8b16.1x18.9x1.3x
Thu, 08 Aug 2024ISK 2.0tISK 1.5tISK 119.0b15.5x16.5x1.3x
Sat, 06 Jul 2024ISK 2.0tISK 1.5tISK 127.9b16.4x15.3x1.3x
Mon, 03 Jun 2024ISK 1.9tISK 1.5tISK 126.7b15.7x15.1x1.3x
Wed, 01 May 2024ISK 2.0tISK 1.5tISK 135.2b15.6x14.6x1.3x
Fri, 29 Mar 2024ISK 2.0tISK 1.5tISK 130.8b16.1x15.3x1.3x
Sun, 25 Feb 2024ISK 2.1tISK 1.5tISK 129.8b16.3x16.4x1.4x
Tue, 23 Jan 2024ISK 2.2tISK 1.5tISK 147.9b16.1x15x1.4x
Thu, 21 Dec 2023ISK 2.1tISK 1.5tISK 148.1b14.5x14x1.3x
Sat, 18 Nov 2023ISK 1.7tISK 1.5tISK 154.1b13.1x11.3x1.1x
Mon, 16 Oct 2023ISK 1.8tISK 1.5tISK 149.5b15.9x12.1x1.2x
Wed, 13 Sep 2023ISK 2.0tISK 1.5tISK 145.4b16.5x13.5x1.3x
Fri, 11 Aug 2023ISK 2.1tISK 1.5tISK 148.8b16x13.8x1.4x
Sun, 09 Jul 2023ISK 2.0tISK 1.5tISK 144.2b14.9x14x1.3x
Tue, 06 Jun 2023ISK 1.9tISK 1.5tISK 146.4b14.4x13.3x1.3x
Thu, 04 May 2023ISK 2.2tISK 1.5tISK 148.0b15.2x14.7x1.5x
Sat, 01 Apr 2023ISK 2.1tISK 1.5tISK 148.0b15.6x14.5x1.5x
Mon, 27 Feb 2023ISK 2.2tISK 1.5tISK 149.7b15.5x14.8x1.5x
Wed, 25 Jan 2023ISK 2.2tISK 1.5tISK 144.1b11.3x14.9x1.5x
Fri, 23 Dec 2022ISK 2.1tISK 1.4tISK 143.1b11.8x15x1.5x
Price to Earnings Ratio

15x


Total Market Cap: ISK 2.1tTotal Earnings: ISK 143.1bTotal Revenue: ISK 1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Icelandic Market Price to Earnings3Y Average 15.2x202320242025
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 13.6x which is lower than its 3-year average PE of 15.2x.
Past Earnings Growth
  • The earnings for Icelandic listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.9% 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 Market-1.05%
Telecom1.44%
Industrials0.16%
Tech0%0
Real Estate-0.17%
Consumer Staples-0.43%
Financials-2.01%
Consumer Discretionary-2.79%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 4.5x.
    • 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 1.1% 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 23% 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 190.000.5%
+ISK 1.4b		17.6%PB1.2xFinancials
SIMINN Síminn hfISK 14.803.9%
+ISK 1.3b		5.7%PE23.6xTelecom
BRIM Brim hfISK 73.500.7%
+ISK 962.7m		1.8%PE17.1xConsumer Staples
KALD Kaldalón hfISK 27.003.1%
+ISK 852.8m		1.9%PE10.6xReal Estate
HEIMAR Heimar hfISK 37.601.1%
+ISK 794.2m		-0.5%PE14.7xReal Estate
See more

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FESTI
ISK 328.00
Festi hf
7D
-2.4%
1Y
16.3%
ARION
ISK 190.00
Arion banki hf
7D
0.5%
1Y
17.6%
SKAGI
ISK 19.20
Skagi hf
7D
-15.0%
1Y
-5.9%
KVIKA
ISK 17.65
Kvika banki hf
7D
-1.9%
1Y
-9.9%
SFS B
ISK 2.80
Sláturfélags Suðurlands svf
7D
29.6%
1Y
3.7%

Here's Why Sláturfélags Suðurlands svf (ICE:SFS B) Can Manage Its Debt Responsibly

Dec 11
Here's Why Sláturfélags Suðurlands svf (ICE:SFS B) Can Manage Its Debt Responsibly
SKEL
ISK 16.30
Skel fjárfestingafélag hf
7D
-4.1%
1Y
-12.8%
BRIM
ISK 73.50
Brim hf
7D
0.7%
1Y
1.8%
SJOVA
ISK 43.00
Sjóvá-Almennar tryggingar hf
7D
-3.6%
1Y
-8.5%
HAMP
ISK 105.00
Hampiðjan hf
7D
1.0%
1Y
-4.1%
ISB
ISK 139.50
Íslandsbanki hf
7D
-2.1%
1Y
13.4%
EIK
ISK 13.80
Eik fasteignafélag hf
7D
-4.2%
1Y
-1.4%
ICEAIR
ISK 0.81
Icelandair Group hf
7D
1.8%
1Y
-41.2%

Investors Give Icelandair Group hf. (ICE:ICEAIR) Shares A 27% Hiding

Oct 30
Investors Give Icelandair Group hf. (ICE:ICEAIR) Shares A 27% Hiding
SIMINN
ISK 14.80
Síminn hf
7D
3.9%
1Y
5.7%
HAGA
ISK 114.00
Hagar hf
7D
-1.7%
1Y
8.6%
KALD
ISK 27.00
Kaldalón hf
7D
3.1%
1Y
1.9%
HEIMAR
ISK 37.60
Heimar hf
7D
1.1%
1Y
-0.5%

Lacklustre Performance Is Driving Heimar hf.'s (ICE:HEIMAR) Low P/E

Jun 15
Lacklustre Performance Is Driving Heimar hf.'s (ICE:HEIMAR) Low P/E