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Dutch (AEX) Market Analysis & Valuation

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies99
  • 7D-0.8%
  • 3M6.8%
  • 1Y13.9%
  • YTD14.7%

The market has been flat over the last week. As for the longer term, the market has risen 14% in the past 12 months. Looking forward, 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
Sun, 14 Dec 2025€1.1t€540.9b€54.7b16.5x20.2x2x
Tue, 11 Nov 2025€1.1t€533.4b€53.6b16.9x20.6x2.1x
Thu, 09 Oct 2025€1.1t€535.3b€53.1b17.2x20.8x2.1x
Sat, 06 Sep 2025€1.0t€550.1b€67.6b16.8x14.9x1.8x
Mon, 04 Aug 2025€976.3b€544.4b€65.8b17.2x14.8x1.8x
Wed, 02 Jul 2025€1.0t€542.2b€62.0b18.7x16.7x1.9x
Fri, 30 May 2025€1.0t€543.8b€58.4b18.8x17.8x1.9x
Sun, 27 Apr 2025€957.0b€543.3b€57.9b17.2x16.5x1.8x
Tue, 25 Mar 2025€1.0t€567.6b€58.5b18x17.4x1.8x
Thu, 20 Feb 2025€1.1t€572.0b€57.7b17.9x18.7x1.9x
Sat, 18 Jan 2025€1.0t€566.6b€51.8b16.6x19.7x1.8x
Mon, 16 Dec 2024€1.0t€562.3b€51.5b17.2x19.5x1.8x
Wed, 13 Nov 2024€961.9b€561.0b€50.6b17x19x1.7x
Fri, 11 Oct 2024€1.0t€561.8b€52.7b18.1x19.8x1.9x
Sun, 08 Sep 2024€985.2b€566.7b€40.1b16.1x24.6x1.7x
Tue, 06 Aug 2024€973.6b€564.1b€40.4b15.5x24.1x1.7x
Thu, 04 Jul 2024€1.1t€561.4b€41.1b16.2x27.3x2x
Sat, 01 Jun 2024€1.1t€561.5b€44.5b17.8x24.4x1.9x
Mon, 29 Apr 2024€1.0t€564.7b€45.1b15.6x23.1x1.8x
Wed, 27 Mar 2024€1.0t€550.9b€45.9b16.4x22.6x1.9x
Fri, 23 Feb 2024€1.0t€566.3b€48.4b16.3x20.9x1.8x
Sun, 21 Jan 2024€910.2b€590.7b€60.2b15.8x15.1x1.5x
Tue, 19 Dec 2023€931.0b€594.9b€60.2b16.3x15.5x1.6x
Thu, 16 Nov 2023€877.7b€597.3b€59.4b15.8x14.8x1.5x
Sat, 14 Oct 2023€819.8b€593.3b€50.5b15.7x16.2x1.4x
Mon, 11 Sep 2023€885.3b€588.9b€49.2b17x18x1.5x
Wed, 09 Aug 2023€902.4b€574.2b€47.4b16.1x19.1x1.6x
Fri, 07 Jul 2023€901.5b€582.6b€52.0b16.5x17.3x1.5x
Sun, 04 Jun 2023€918.6b€585.5b€48.3b16.9x19x1.6x
Tue, 02 May 2023€867.4b€573.0b€49.1b17.4x17.7x1.5x
Thu, 30 Mar 2023€889.2b€565.5b€50.6b16x17.6x1.6x
Sat, 25 Feb 2023€883.4b€554.3b€48.1b16x18.4x1.6x
Mon, 23 Jan 2023€891.7b€540.7b€53.9b15.2x16.6x1.6x
Wed, 21 Dec 2022€823.5b€543.4b€54.3b14.2x15.2x1.5x
Price to Earnings Ratio

15.2x


Total Market Cap: €823.5bTotal Earnings: €54.3bTotal Revenue: €543.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 19x202320242025
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 19.0x.
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-0.80%
Materials2.81%
Consumer Discretionary2.08%
Telecom0.22%
Utilities0%0
Financials-0.20%
Consumer Staples-0.37%
Industrials-0.66%
Healthcare-1.84%
Real Estate-2.51%
Energy-2.66%
Tech-2.67%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 38.8x.
    • 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€53.252.2%
+€2.5b		30.9%PE10.3xConsumer Discretionary
MT ArcelorMittal€38.705.7%
+€1.6b		63.1%PE13.4xMaterials
INGA ING Groep€23.202.5%
+€1.6b		56.4%PB1.4xFinancials
HEIO Heineken Holding€61.901.4%
+€237.7m		4.7%PE18.7xConsumer Staples
AKZA Akzo Nobel€56.782.4%
+€229.2m		-3.8%PE164.6xMaterials
See more

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