Narrative Update • Jul 13
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Dutch (AEX) Capital Markets Industry Analysis
UpdatedJul 17, 2026
DataAggregated Company Financials
Companies7
- 7D3.3%
- 3M9.7%
- 1Y-6.4%
- YTD10.2%
In the last week, the Capital Markets industry is up 3.3%, with all of the companies up. However, the industry is down 6.4% over the past year. Looking forward, earnings are forecast to grow by 27% annually.
Industry Valuation and Performance
Has the Dutch Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 17 Jul 2026 | €46.6b | €4.2b | €1.8b | 12.2x | 25.9x | 11.1x |
| Sun, 14 Jun 2026 | €44.1b | €4.2b | €1.8b | 10.5x | 24.5x | 10.5x |
| Tue, 12 May 2026 | €44.2b | €4.1b | €1.5b | 11.8x | 29.5x | 10.8x |
| Thu, 09 Apr 2026 | €42.1b | €4.1b | €1.5b | 10.1x | 28.4x | 10.3x |
| Sat, 07 Mar 2026 | €41.8b | €3.6b | €1.0b | 15.9x | 40.1x | 11.5x |
| Mon, 02 Feb 2026 | €42.6b | €3.9b | €861.4m | 15.7x | 49.5x | 10.8x |
| Wed, 31 Dec 2025 | €41.9b | €3.9b | €861.4m | 16.2x | 48.7x | 10.6x |
| Fri, 28 Nov 2025 | €41.7b | €3.9b | €861.4m | 16x | 48.4x | 10.6x |
| Sun, 26 Oct 2025 | €41.6b | €4.1b | €916.6m | 16.3x | 45.3x | 10.2x |
| Tue, 23 Sep 2025 | €41.4b | €4.1b | €916.6m | 16x | 45.2x | 10.2x |
| Thu, 21 Aug 2025 | €44.4b | €3.8b | €393.2m | 16.5x | 112.8x | 11.5x |
| Sat, 19 Jul 2025 | €45.4b | €3.8b | €345.7m | 13.4x | 131.3x | 12.1x |
| Mon, 16 Jun 2025 | €42.4b | €3.8b | €345.7m | 12.7x | 122.6x | 11.3x |
| Wed, 14 May 2025 | €42.7b | €3.8b | €345.7m | 13x | 123.4x | 11.3x |
| Fri, 11 Apr 2025 | €40.5b | €3.8b | €360.1m | 11.1x | 112.5x | 10.8x |
| Sun, 09 Mar 2025 | €45.4b | €3.2b | €410.2m | 11.2x | 110.6x | 14x |
| Tue, 04 Feb 2025 | €48.9b | €5.7b | €576.4m | 14.7x | 84.9x | 8.5x |
| Thu, 02 Jan 2025 | €46.9b | €5.7b | €576.4m | 13.3x | 81.4x | 8.2x |
| Sat, 30 Nov 2024 | €49.5b | €5.7b | €573.5m | 28.2x | 86.4x | 8.6x |
| Mon, 28 Oct 2024 | €45.9b | €5.7b | €573.5m | 28.9x | 80.1x | 8x |
| Wed, 25 Sep 2024 | €46.1b | €5.7b | €579.4m | 13.6x | 79.6x | 8.1x |
| Fri, 23 Aug 2024 | €44.6b | €5.6b | €686.0m | 12.5x | 65.1x | 8x |
| Sun, 21 Jul 2024 | €41.1b | €4.2b | €302.7m | 13.2x | 135.7x | 9.9x |
| Tue, 18 Jun 2024 | €39.7b | €4.2b | €302.7m | 12.8x | 131.3x | 9.6x |
| Thu, 16 May 2024 | €40.8b | €4.2b | €304.3m | 15.7x | 134x | 9.8x |
| Sat, 13 Apr 2024 | €6.7b | €4.1b | €239.0m | 30.4x | 28.1x | 1.6x |
| Mon, 11 Mar 2024 | €6.5b | €1.9b | €201.6m | 28.5x | 32x | 3.4x |
| Wed, 07 Feb 2024 | €6.2b | €3.9b | €174.5m | 14.2x | 35.3x | 1.6x |
| Fri, 05 Jan 2024 | €8.4b | €3.9b | €32.6m | 26.4x | 257x | 2.2x |
| Sun, 03 Dec 2023 | €8.0b | €3.9b | €32.6m | 26.6x | 246.7x | 2.1x |
| Tue, 31 Oct 2023 | €7.3b | €3.9b | €32.6m | 26x | 223.8x | 1.9x |
| Thu, 28 Sep 2023 | €7.6b | €3.9b | €29.5m | 38x | 258.7x | 1.9x |
| Sat, 26 Aug 2023 | €7.9b | €3.9b | €30.5m | 39x | 257.5x | 2x |
| Mon, 24 Jul 2023 | €8.0b | €4.0b | €40.6m | 28.1x | 197.1x | 2x |
Price to Earnings Ratio
197.1x
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 25.9x which is lower than its 3-year average PE of 104x.
- The 3-year average PS ratio of 8.0x is lower than the industry's current PS ratio of 11.1x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have grown 254% 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 Market | 0.67% | |
| Financials | 1.69% | |
| Capital Markets | 3.34% | |
| Asset Management | 3.58% | |
| Investment Banking and Brokerage | 2.80% | |
| Financial Exchanges and Data | 1.69% | |
Industry PE
- Investors are most optimistic about the Financial Exchanges and Data industry which is trading above its 3-year average PE ratio of 339x.
- Analysts are expecting annual earnings growth of 41.1% 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 10.8x.
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 7.5% 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 | |
|---|---|---|---|---|---|
| CVC CVC Capital Partners | €14.71 | 10.7% +€1.5b | -16.7% | PE13x | |
| VLK Van Lanschot Kempen | €68.35 | 4.9% +€136.0m | 23.2% | PE19.6x | |
| ALLFG Allfunds Group | €8.72 | 1.7% +€86.7m | 20.5% | PE2221.7x | |
| SWICH SWI Capital Holding | €7.20 | 1.4% +€48.1m | n/a | PE11.5x | |
| FLOW Flow Traders | €26.48 | 2.8% +€31.4m | -3.5% | PE7.8x |