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Dutch (AEX) Market Analysis & Valuation

UpdatedDec 17, 2025
DataAggregated Company Financials
Companies99
  • 7D-1.1%
  • 3M6.5%
  • 1Y13.4%
  • YTD14.2%

In the last week, the market has stayed flat, however the Materials sector stood out, gaining 3.8%. Meanwhile, the market is actually up 15% over the past year. Earnings are forecast to grow by 12% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 17 Dec 2025€1.1t€540.7b€54.7b16.5x20.2x2x
Fri, 14 Nov 2025€1.1t€532.8b€53.5b17.1x20.7x2.1x
Sun, 12 Oct 2025€1.1t€535.3b€53.1b17.4x20.3x2x
Tue, 09 Sep 2025€1.0t€549.8b€67.5b16.8x15.1x1.9x
Thu, 07 Aug 2025€981.5b€544.4b€65.8b17.4x14.9x1.8x
Sat, 05 Jul 2025€1.0t€542.2b€62.0b18.5x16.6x1.9x
Mon, 02 Jun 2025€1.0t€543.9b€58.4b18.8x17.7x1.9x
Wed, 30 Apr 2025€959.3b€543.2b€57.9b17.2x16.6x1.8x
Fri, 28 Mar 2025€1.0t€544.6b€57.3b17.7x17.6x1.9x
Sun, 23 Feb 2025€1.1t€561.5b€57.7b17.9x18.5x1.9x
Tue, 21 Jan 2025€1.0t€565.8b€51.8b17x19.8x1.8x
Thu, 19 Dec 2024€1.0t€562.5b€51.5b16.2x19.6x1.8x
Sat, 16 Nov 2024€954.3b€561.6b€50.5b16.9x18.9x1.7x
Mon, 14 Oct 2024€1.1t€561.8b€52.7b18.1x19.9x1.9x
Wed, 11 Sep 2024€984.2b€567.4b€40.1b16.2x24.5x1.7x
Fri, 09 Aug 2024€1.0t€564.6b€40.3b15.4x25.1x1.8x
Sun, 07 Jul 2024€1.1t€561.1b€41.1b16.5x27.4x2x
Tue, 04 Jun 2024€1.1t€561.2b€44.5b17.7x24.5x1.9x
Thu, 02 May 2024€1.1t€564.9b€44.8b15.7x23.5x1.9x
Sat, 30 Mar 2024€1.0t€551.2b€45.5b16.6x22.8x1.9x
Mon, 26 Feb 2024€1.0t€566.3b€48.4b16.6x20.7x1.8x
Wed, 24 Jan 2024€924.6b€591.1b€60.3b16x15.3x1.6x
Fri, 22 Dec 2023€923.0b€594.4b€60.1b16.5x15.4x1.6x
Sun, 19 Nov 2023€873.5b€596.9b€59.3b15.7x14.7x1.5x
Tue, 17 Oct 2023€820.1b€592.9b€50.4b15.6x16.3x1.4x
Thu, 14 Sep 2023€877.3b€588.7b€49.2b17x17.8x1.5x
Sat, 12 Aug 2023€897.0b€575.2b€47.6b16.8x18.9x1.6x
Mon, 10 Jul 2023€898.7b€581.8b€51.9b16.5x17.3x1.5x
Wed, 07 Jun 2023€914.9b€585.6b€48.3b16.9x18.9x1.6x
Fri, 05 May 2023€857.2b€572.8b€49.0b17.4x17.5x1.5x
Sun, 02 Apr 2023€906.0b€565.4b€50.6b16.2x17.9x1.6x
Tue, 28 Feb 2023€897.2b€555.1b€48.0b16.1x18.7x1.6x
Thu, 26 Jan 2023€912.7b€540.3b€53.8b15.6x17x1.7x
Sat, 24 Dec 2022€824.2b€543.4b€54.4b14.3x15.2x1.5x
Price to Earnings Ratio

15.2x


Total Market Cap: €824.2bTotal Earnings: €54.4bTotal Revenue: €543.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 19.1x202320242025
Current Market PE
  • Investors are relatively neutral on the Dutch market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 19.1x.
Past Earnings Growth
  • Both revenue and earnings for Dutch listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market-1.08%
Materials2.95%
Consumer Staples1.80%
Consumer Discretionary1.74%
Industrials1.12%
Telecom1.10%
Real Estate0.75%
Financials0.34%
Utilities0%0
Energy-2.08%
Healthcare-3.14%
Tech-4.84%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 38.7x.
    • Analysts are expecting annual earnings growth of 12.9%, which is lower than the prior year's growth of 36.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 39% over the next 5 years.
  • In contrast, the Telecom 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
PRX Prosus€52.461.7%
+€2.0b		30.0%PE10.1xConsumer Discretionary
HEIA Heineken€69.943.6%
+€1.4b		0.3%PE21.3xConsumer Staples
MT ArcelorMittal€38.783.6%
+€1.0b		69.3%PE13.4xMaterials
ADYEN Adyen€1.35k2.4%
+€1.0b		-10.2%PE42.7xFinancials
INGA ING Groep€23.381.3%
+€857.6m		59.1%PB1.4xFinancials
See more

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