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Dutch (AEX) Capital Markets Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies7
  • 7D2.5%
  • 3M-3.3%
  • 1Y2.3%
  • YTD3.3%

In the last week, the Capital Markets industry is up 2.5%, with CVC Capital Partners up 12%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

Has the Dutch Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026€43.8b€4.1b€1.5b11.5x29.5x10.7x
Thu, 19 Mar 2026€41.4b€4.1b€1.5b10.2x27.9x10.2x
Sat, 14 Feb 2026€40.3b€3.9b€861.4m15.6x46.7x10.2x
Mon, 12 Jan 2026€42.9b€3.9b€861.4m16.2x49.8x10.9x
Wed, 10 Dec 2025€41.3b€3.9b€861.4m16.2x47.9x10.5x
Fri, 07 Nov 2025€40.2b€3.9b€861.4m15.9x46.7x10.2x
Sun, 05 Oct 2025€42.3b€4.1b€916.6m16.4x46.1x10.4x
Tue, 02 Sep 2025€43.6b€3.9b€387.7m15.6x112.5x11.3x
Thu, 31 Jul 2025€44.1b€3.8b€345.7m13.3x127.6x11.7x
Sat, 28 Jun 2025€44.4b€3.8b€345.7m13x128.5x11.8x
Mon, 26 May 2025€42.6b€3.8b€345.7m13.5x123.3x11.3x
Wed, 23 Apr 2025€40.9b€3.8b€360.1m11.6x113.7x10.9x
Fri, 21 Mar 2025€46.6b€3.6b€410.3m11.5x113.6x13.1x
Sun, 16 Feb 2025€48.9b€5.6b€664.3m14.9x73.6x8.8x
Tue, 14 Jan 2025€46.1b€5.7b€576.4m13.8x79.9x8x
Thu, 12 Dec 2024€47.2b€5.7b€569.8m13.3x82.8x8.2x
Sat, 09 Nov 2024€48.4b€5.7b€573.5m27.9x84.4x8.4x
Mon, 07 Oct 2024€45.9b€5.7b€573.3m27.1x80.1x8x
Wed, 04 Sep 2024€44.3b€5.6b€693.6m12.3x63.9x7.9x
Fri, 02 Aug 2024€42.9b€5.5b€662.5m12.6x64.8x7.8x
Sun, 30 Jun 2024€40.1b€4.2b€302.7m12.8x132.7x9.7x
Tue, 28 May 2024€42.2b€4.2b€302.7m12.9x139.5x10.2x
Thu, 25 Apr 2024€6.4b€4.1b€243.6m30.7x26.1x1.5x
Sat, 23 Mar 2024€6.6b€2.0b€239.0m28.3x27.7x3.4x
Mon, 19 Feb 2024€6.1b€3.6b€165.1m19.4x37.1x1.7x
Wed, 17 Jan 2024€8.1b€3.9b€32.6m26.2x247.4x2.1x
Fri, 15 Dec 2023€8.4b€3.9b€32.6m26.8x259.1x2.2x
Sun, 12 Nov 2023€7.7b€3.9b€32.6m26.5x235.8x2x
Tue, 10 Oct 2023€7.6b€3.9b€60.1m26.3x126x1.9x
Thu, 07 Sep 2023€7.8b€3.9b€30.6m38x254.8x2x
Sat, 05 Aug 2023€8.2b€3.9b€25.5m28.9x321.2x2.1x
Mon, 03 Jul 2023€8.5b€4.0b€37.4m28.7x226.1x2.1x
Wed, 31 May 2023€8.9b€4.0b€41.2m27.5x216.1x2.2x
Fri, 28 Apr 2023€8.8b€4.0b€46.0m14.6x191.5x2.2x
Price to Earnings Ratio

191.5x


Total Market Cap: €8.8bTotal Earnings: €46.0mTotal Revenue: €4.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Capital Markets Industry Price to Earnings3Y Average 117.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Dutch Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 29.5x which is lower than its 3-year average PE of 118x.
  • The 3-year average PS ratio of 7.3x is lower than the industry's current PS ratio of 10.7x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 218% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Dutch Financials industry?

NL Market1.15%
Financials1.91%
Capital Markets2.53%
Asset Management3.13%
Financial Exchanges and Data-0.29%
Investment Banking and Brokerage-2.62%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry which is trading above its 3-year average PE ratio of 140x.
    • Analysts are expecting annual earnings growth of 40.7% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the Investment Banking and Brokerage industry, which is trading below its 3-year average of 10.9x.
Forecasted Growth
  • Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 41% over the next 5 years.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 10% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CVC CVC Capital Partners€13.2211.4%
+€1.4b		-13.7%PE11.7x
ALLFG Allfunds Group€8.752.1%
+€107.6m		83.9%PE2230.6x
VLK Van Lanschot Kempen€65.051.7%
+€46.7m		38.9%PE18.6x

Latest News

FLOW
€28.18
Flow Traders
7D
-2.1%
1Y
-5.7%
CVC
€13.22
CVC Capital Partners
7D
11.4%
1Y
-13.7%
ALLFG
€8.75
Allfunds Group
7D
2.1%
1Y
83.9%

ALLFG: Deutsche Börse Offer And Modest Margin Shift Will Guide Fair Outlook

Analysts have modestly lifted their price target on Allfunds Group to €9.64 from €9.00, reflecting updated assumptions around slightly higher revenue growth, a small improvement in profit margins, and a marginally lower future P/E multiple. What's in the News Deutsche Börse AG agreed to acquire Allfunds Group plc for a total value of €5.3b, with Allfunds shareholders offered 0.0122 Deutsche Börse shares plus €6.2 in cash per Allfunds share, and a permitted cash dividend of up to €0.20 per Allfunds share for the 2025 financial year expected to be paid in May 2026, subject to conditions and approvals (Key Developments).
VLK
€65.05
Van Lanschot Kempen
7D
1.7%
1Y
38.9%

VLK: Fair Value Will Stay Resilient With Dividend And Buyback Support

Analysts have lifted their price target on Van Lanschot Kempen from about €56.17 to approximately €63.87, citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E multiples. What's in the News Special or extraordinary shareholders meeting scheduled for April 9, 2026 in ’s‑Hertogenbosch, the Netherlands, providing shareholders with a formal setting to vote on key proposals (company event) Share repurchase program commencing on February 26, 2026, under an existing shareholder mandate that allows Van Lanschot Kempen to buy back up to 10% of its issued share capital within an 18‑month window, with purchases constrained between the nominal value and the highest stock exchange price on the day of purchase (company announcement) Annual dividend of €3.00 per share announced, with an ex date of May 25, 2026, record date of May 26, 2026, and payment date of June 3, 2026 (company announcement) Valuation Changes Fair Value: updated from about €56.17 to approximately €63.87, representing a moderate upward reset in the modelled estimate.
SWICH
€5.50
SWI Capital Holding
7D
-8.4%
1Y
n/a