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Dutch (AEX) Industrials Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies25
  • 7D1.3%
  • 3M-3.1%
  • 1Y-29.4%
  • YTD-3.6%

In the last week, the Industrials industry is up 1.3%, with Wolters Kluwer up 9.2%. In the past year, the industry is down 29%. As for the next few years, earnings are expected to grow by 22% per annum.

Sector Valuation and Performance

Has the Dutch Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026€117.2b€77.0b€3.8b22.1x31.2x1.5x
Tue, 27 Jan 2026€89.1b€71.0b€2.8b21.7x32.2x1.3x
Thu, 25 Dec 2025€55.4b€71.1b€2.8b19.9x20x0.8x
Sat, 22 Nov 2025€55.1b€71.1b€2.8b18.5x19.9x0.8x
Mon, 20 Oct 2025€62.8b€71.1b€2.8b19.4x22.1x0.9x
Wed, 17 Sep 2025€63.2b€71.1b€2.9b20.3x22.1x0.9x
Fri, 15 Aug 2025€66.6b€70.9b€2.7b20.9x24.3x0.9x
Sun, 13 Jul 2025€74.6b€71.1b€2.9b19.7x25.5x1x
Tue, 10 Jun 2025€78.0b€71.1b€2.9b19.1x26.6x1.1x
Thu, 08 May 2025€77.6b€70.9b€2.9b17.6x26.3x1.1x
Sat, 05 Apr 2025€71.4b€71.3b€3.0b18.3x24x1x
Mon, 03 Mar 2025€78.5b€71.1b€3.0b19.9x26.6x1.1x
Wed, 29 Jan 2025€84.4b€70.6b€3.4b18.6x24.7x1.2x
Fri, 27 Dec 2024€81.7b€70.6b€3.4b17.8x24.4x1.2x
Sun, 24 Nov 2024€81.5b€70.6b€3.4b17.8x24.3x1.2x
Tue, 22 Oct 2024€84.8b€70.8b€3.4b16.8x24.9x1.2x
Thu, 19 Sep 2024€82.9b€70.8b€3.4b16.5x24.5x1.2x
Sat, 17 Aug 2024€80.4b€70.6b€3.4b15.5x23.9x1.1x
Mon, 15 Jul 2024€83.6b€70.4b€3.4b16.8x24.8x1.2x
Wed, 12 Jun 2024€83.5b€70.3b€3.3b22.7x25x1.2x
Fri, 10 May 2024€84.0b€70.2b€3.3b19.8x25.4x1.2x
Sun, 07 Apr 2024€81.7b€70.8b€3.3b15.9x24.4x1.2x
Tue, 05 Mar 2024€81.2b€70.6b€3.4b14.9x24x1.2x
Thu, 01 Feb 2024€86.7b€76.6b€2.7b17.4x31.9x1.1x
Sat, 30 Dec 2023€86.7b€76.8b€2.7b17.1x31.6x1.1x
Mon, 27 Nov 2023€82.1b€76.8b€2.7b16.4x29.9x1.1x
Wed, 25 Oct 2023€74.9b€77.7b€2.8b18.1x26.8x1x
Fri, 22 Sep 2023€77.8b€77.6b€2.8b21x27.9x1x
Sun, 20 Aug 2023€77.2b€77.8b€2.9b19.7x26.9x1x
Tue, 18 Jul 2023€79.0b€77.2b€3.1b22.2x25.5x1x
Thu, 15 Jun 2023€80.4b€79.0b€3.2b21.8x24.8x1x
Sat, 13 May 2023€73.2b€75.6b€3.0b21.6x24x1x
Mon, 10 Apr 2023€75.0b€75.7b€3.1b21.6x24.1x1x
Wed, 08 Mar 2023€75.1b€73.4b€2.9b21.3x25.6x1x
Price to Earnings Ratio

25.6x


Total Market Cap: €75.1bTotal Earnings: €2.9bTotal Revenue: €73.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Industrials Sector Price to Earnings3Y Average 25.6x202420252026
Current Industry PE
  • Investors are optimistic on the Dutch Industrials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.2x which is higher than its 3-year average PE of 25.6x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 8.7% 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 Industrials sector?

NL Market-0.37%
Industrials1.28%
Professional Services5.81%
Machinery1.45%
Aerospace & Defense0%0
Commercial Services0%0
Logistics-0.18%
Building-0.66%
Electrical-2.22%
Construction-3.48%
Trade Distributors-4.59%
Industry PE
  • Investors are most optimistic about the Logistics industry which is trading above its 3-year average PE ratio of 19.8x.
    • Analysts are expecting annual earnings growth of 30.3%, which is higher than its past year's earnings decline of 18.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Professional Services 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?

CompanyLast Price7D1YValuation
WKL Wolters Kluwer€68.109.2%
+€1.3b		-53.9%PE11.7x
CSG CSG€31.832.3%
+€720.0m		n/aPE54.5x
ARCAD Arcadis€29.921.4%
+€34.2m		-37.2%PE12.3x
AALB Aalberts€35.220.8%
+€30.3m		9.4%PE25.6x
ENVI Envipco Holding€4.6010.8%
+€29.7m		-18.6%PS3.1x

Latest News

WKL
€68.10
Wolters Kluwer
7D
9.2%
1Y
-53.9%
ARCAD
€29.92
Arcadis
7D
1.4%
1Y
-37.2%
AALB
€35.22
Aalberts
7D
0.8%
1Y
9.4%
FUR
€10.75
Fugro
7D
-8.6%
1Y
-28.1%
ENVI
€4.60
Envipco Holding
7D
10.8%
1Y
-18.6%
HEIJM
€89.25
Koninklijke Heijmans
7D
-2.3%
1Y
120.9%

HEIJM: Adjusted Margins And Higher Future P E Multiple Will Shape Returns

Analysts have updated their price target on Koninklijke Heijmans from €63.38 to €95.00, citing revised assumptions for the discount rate, revenue growth, profit margin, and a higher future P/E multiple in their valuation work. Valuation Changes Fair Value: updated from €63.38 to €95.00, representing a substantial uplift in the implied equity value per share.
BAMNB
€9.55
Koninklijke BAM Groep
7D
-2.1%
1Y
85.2%

BAMNB: Updated Assumptions Will Support Stable Outlook With Slightly Higher Returns

Analysts have raised their price target for Koninklijke BAM Groep to €9.40, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, while maintaining their fair value estimate at €9.40. Valuation Changes Fair Value: Unchanged at €9.40 per share, indicating the updated assumptions collectively leave the overall valuation level steady.
LIGHT
€19.72
Signify
7D
-2.8%
1Y
-3.7%
IMCD
€81.40
IMCD
7D
-4.6%
1Y
-43.0%
RAND
€27.83
Randstad
7D
-0.7%
1Y
-28.1%

RAND: Future Upside Will Depend On Resilient Earnings Through Prolonged Sector Headwinds

Analysts have trimmed their consolidated price target on Randstad by around €1.36 per share, citing updated fair value estimates, a slightly higher discount rate, and recent research pointing to ongoing cyclical and structural headwinds for earnings. Analyst Commentary Recent research has centered on how cyclical weakness and structural challenges could affect Randstad's earnings profile and what that implies for fair value.
THEON
€30.70
Theon International
7D
-3.2%
1Y
76.4%
FERGR
€10.28
Ferrari Group
7D
-2.5%
1Y
28.5%

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Feb 16
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CSG
€31.83
CSG
7D
2.3%
1Y
n/a
INPST
€15.20
InPost
7D
0.1%
1Y
-8.4%

INPST: Parcel Locker Scale And Execution Will Support Future Upside Potential

Analysts have trimmed their price expectations for InPost, with one recent move cutting the target from €16.00 to €15.20. This change reflects updated views on fair value, discount rate assumptions and future P/E levels.
EARTH
€1.45
Green Earth Group
7D
13.3%
1Y
93.3%
MORE
€0.83
Morefield Group
7D
6.4%
1Y
64.4%