SES S.A.'s (BDL:SESGL) P/S Is Still On The Mark Following 27% Share Price Bounce
Jan 18
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Luxembourg (LUXX) Market Analysis & Valuation
UpdatedJan 20, 2026
DataAggregated Company Financials
Companies9
- 7D2.0%
- 3M10.0%
- 1Y29.0%
- YTD3.6%
The market is up 1.7% over the last week, with the Communication Services sector leading the way, up 4.8%. The market is up 29% over the last 12 months. Looking forward, earnings are forecast to grow by 64% annually.
Market Valuation and Performance
Has the Luxembourg Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 20 Jan 2026 | €11.8b | €3.7b | €360.6m | 11.1x | 32.7x | 3.2x |
| Thu, 18 Dec 2025 | €10.7b | €3.7b | €360.6m | 9.7x | 29.7x | 2.9x |
| Sat, 15 Nov 2025 | €10.8b | €4.4b | €1.0b | 8.4x | 10.5x | 2.5x |
| Mon, 13 Oct 2025 | €11.2b | €4.1b | €1.1b | 7.7x | 10.1x | 2.7x |
| Wed, 10 Sep 2025 | €11.0b | €4.0b | €1.0b | 7.9x | 10.7x | 2.8x |
| Fri, 08 Aug 2025 | €10.9b | €4.0b | €1.0b | 7.7x | 10.4x | 2.7x |
| Sun, 06 Jul 2025 | €11.0b | €4.2b | €1.1b | 7.7x | 10.4x | 2.6x |
| Tue, 03 Jun 2025 | €10.1b | €4.1b | €1.0b | 7.4x | 9.8x | 2.4x |
| Thu, 01 May 2025 | €9.5b | €4.1b | €1.3b | 11.8x | 7.6x | 2.3x |
| Sat, 29 Mar 2025 | €10.1b | €4.1b | €1.3b | 11.1x | 7.9x | 2.5x |
| Mon, 24 Feb 2025 | €9.5b | €4.1b | -€450,635,141.00 | 12.2x | -21.2x | 2.3x |
| Wed, 22 Jan 2025 | €9.2b | €4.1b | -€450,635,141.00 | 11.3x | -20.4x | 2.2x |
| Fri, 20 Dec 2024 | €8.8b | €4.1b | -€450,635,141.00 | 10.8x | -19.6x | 2.1x |
| Sun, 17 Nov 2024 | €9.2b | €3.6b | -€996,154,141.00 | 9.3x | -9.3x | 2.6x |
| Tue, 15 Oct 2024 | €9.8b | €3.6b | -€205,861,449.00 | 12x | -47.6x | 2.7x |
| Thu, 12 Sep 2024 | €10.5b | €4.6b | -€84,567,384.00 | 8.7x | -123.7x | 2.3x |
| Sat, 10 Aug 2024 | €10.1b | €4.6b | -€121,756,519.00 | 8.5x | -82.8x | 2.2x |
| Mon, 08 Jul 2024 | €10.3b | €4.3b | -€92,282,672.00 | 8.2x | -111.7x | 2.4x |
| Wed, 05 Jun 2024 | €10.4b | €4.3b | -€24,404,211.00 | 8.3x | -424.3x | 2.4x |
| Fri, 03 May 2024 | €5.4b | €4.0b | -€545,763,708.00 | 10.6x | -9.8x | 1.3x |
| Sun, 31 Mar 2024 | €5.9b | €4.1b | -€550,585,966.00 | 12.1x | -10.6x | 1.4x |
| Tue, 27 Feb 2024 | €5.8b | €4.1b | €1.1b | 8.6x | 5.3x | 1.4x |
| Thu, 25 Jan 2024 | €6.0b | €4.2b | €1.1b | 10x | 5.4x | 1.4x |
| Sat, 23 Dec 2023 | €6.0b | €4.2b | €1.1b | 10x | 5.4x | 1.4x |
| Mon, 20 Nov 2023 | €5.8b | €4.2b | €1.1b | 10x | 5.1x | 1.4x |
| Wed, 18 Oct 2023 | €6.0b | €4.1b | €466.1m | 8.6x | 12.8x | 1.4x |
| Fri, 15 Sep 2023 | €6.3b | €4.1b | €403.7m | 6.1x | 15.7x | 1.5x |
| Sun, 13 Aug 2023 | €6.4b | €4.1b | €389.0m | 6.2x | 16.4x | 1.5x |
| Tue, 11 Jul 2023 | €9.4b | €4.3b | €248.1m | 6.3x | 38x | 2.2x |
| Thu, 08 Jun 2023 | €9.5b | €4.3b | €224.2m | 6.2x | 42.4x | 2.2x |
| Sat, 06 May 2023 | €9.6b | €4.7b | €1.1b | 4.8x | 8.7x | 2x |
| Mon, 03 Apr 2023 | €9.4b | €4.6b | €1.2b | 4.1x | 7.8x | 2x |
| Wed, 01 Mar 2023 | €9.4b | €4.9b | €1.4b | 4.2x | 6.7x | 1.9x |
| Fri, 27 Jan 2023 | €9.6b | €4.7b | €1.8b | 4x | 5.2x | 2x |
Price to Earnings Ratio
5.2x
Current Market PE
- Investors are optimistic on the Luxembourger market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 32.8x which is higher than its 3-year average PE of -9.4x.
Past Earnings Growth
- The earnings for companies in the Luxembourger industry have declined 42% per year over the last three years.
- Revenues have also declined 7.5% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Sector Trends
Which sectors have driven the changes within the Luxembourg Market?
| LU Market | 1.98% | |
| Telecom | 8.01% | |
| Financials | 0.81% | |
| Industrials | 0% | 0 |
| Tech | 0% | 0 |
| Utilities | 0% | 0 |
| Consumer Staples | -1.17% | |
| Real Estate | -1.69% | |
Sector PE
- Investors favour the Financials sector the most for future growth, which is trading above its 3-year average PE ratio of 3.9x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 64% over the next 5 years.
- In contrast, the Telecom sector is expected to see its earnings grow by 64% 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 | |
|---|---|---|---|---|---|---|
| SESGL SES | €6.75 | 8.0% +€208.9m | 122.5% | PS1.2x | Telecom | |
| REINI Reinet Investments S.C.A | €30.00 | 1.4% +€72.7m | 20.0% | PE40.4x | Financials | |
| FTXHG Fotex Holding | €2.90 | 31.8% +€29.5m | -12.1% | PE12.5x | Real Estate | |
| VLCN Velcan Holdings | €16.50 | 5.1% +€3.7m | 4.4% | PE9.7x | Financials |