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Dutch (AEX) Industrials Sector Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies26
  • 7D1.2%
  • 3M-9.0%
  • 1Y-25.0%
  • YTD-17.4%

Over the last 7 days, the Industrials industry has risen 1.5%, driven by gains from CSG of 6.3%. However, the industry is down 25% over the past year. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026€100.2b€78.2b€3.7b17.9x27.2x1.3x
Thu, 18 Jun 2026€101.1b€78.3b€3.7b17.9x27.4x1.3x
Sat, 16 May 2026€100.8b€78.1b€3.6b18.3x28.3x1.3x
Mon, 13 Apr 2026€104.8b€77.9b€3.7b17.8x28.5x1.3x
Wed, 11 Mar 2026€113.7b€76.8b€3.6b18.4x31.2x1.5x
Fri, 06 Feb 2026€85.5b€70.8b€2.7b22.8x31.6x1.2x
Sun, 04 Jan 2026€56.1b€71.0b€2.8b20.5x20.3x0.8x
Tue, 02 Dec 2025€55.9b€71.1b€2.8b20x20.2x0.8x
Thu, 30 Oct 2025€62.5b€70.8b€2.8b20.1x22.4x0.9x
Sat, 27 Sep 2025€63.3b€71.1b€2.8b19.7x22.2x0.9x
Mon, 25 Aug 2025€67.4b€70.9b€2.9b21.5x22.9x1x
Wed, 23 Jul 2025€73.4b€71.1b€2.9b18.6x25.1x1x
Fri, 20 Jun 2025€73.5b€71.1b€2.9b17.9x25.1x1x
Sun, 18 May 2025€80.0b€71.1b€2.9b18.4x27.3x1.1x
Tue, 15 Apr 2025€73.4b€71.3b€3.0b18.4x24.7x1x
Thu, 13 Mar 2025€76.7b€71.2b€2.9b21.6x26.2x1.1x
Sat, 08 Feb 2025€85.9b€70.6b€3.4b18.7x25.1x1.2x
Mon, 06 Jan 2025€82.0b€70.6b€3.4b17.8x24.5x1.2x
Wed, 04 Dec 2024€82.9b€70.5b€3.5b18.3x23.7x1.2x
Fri, 01 Nov 2024€83.4b€70.4b€3.4b18.1x24.8x1.2x
Sun, 29 Sep 2024€83.5b€70.8b€3.4b16x24.6x1.2x
Tue, 27 Aug 2024€81.4b€70.6b€3.3b17.7x24.4x1.2x
Thu, 25 Jul 2024€83.0b€70.0b€3.3b16.2x25.1x1.2x
Sat, 22 Jun 2024€83.2b€70.4b€3.4b19.1x24.8x1.2x
Mon, 20 May 2024€84.4b€70.3b€3.3b20.7x25.2x1.2x
Wed, 17 Apr 2024€82.2b€70.7b€3.3b15.9x24.6x1.2x
Fri, 15 Mar 2024€81.5b€70.6b€3.4b15.5x24.1x1.2x
Sun, 11 Feb 2024€78.4b€70.6b€2.3b15x33.4x1.1x
Tue, 09 Jan 2024€85.2b€76.9b€2.7b16.4x31x1.1x
Thu, 07 Dec 2023€83.9b€76.9b€2.7b16.1x30.5x1.1x
Sat, 04 Nov 2023€76.6b€76.7b€2.7b15.5x28.3x1x
Mon, 02 Oct 2023€77.4b€77.6b€2.8b21.1x27.7x1x
Wed, 30 Aug 2023€78.6b€77.6b€2.8b21x28x1x
Fri, 28 Jul 2023€79.3b€77.2b€3.1b23.3x25.6x1x
Price to Earnings Ratio

25.6x


Total Market Cap: €79.3bTotal Earnings: €3.1bTotal Revenue: €77.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Industrials Sector Price to Earnings3Y Average 26.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Dutch Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.1x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 5.9% 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-0.60%
Industrials1.20%
Building3.57%
Trade Distributors2.48%
Professional Services0.97%
Machinery0.079%
Aerospace & Defense0%0
Commercial Services0%0
Logistics-0.13%
Construction-0.24%
Electrical-1.16%
Industry PE
  • Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 69.0x.
    • Analysts are expecting annual earnings growth of 17.1%, which is higher than its past year's earnings decline of 16.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 34% per year.
  • In contrast, the Professional Services industry is expected to see its earnings grow by 8.9% 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
CSG CSG€14.076.3%
+€836.0m		n/aPE17.1x
RAND Randstad€32.888.1%
+€431.6m		-22.0%PE20.9x
IMCD IMCD€88.342.5%
+€126.3m		-21.6%PE24x
FUR Fugro€9.792.8%
+€30.1m		-21.3%PS0.6x
ENVI Envipco Holding€3.809.4%
+€21.5m		-48.2%PS2.8x

Latest News

BAMNB
€11.44
Koninklijke BAM Groep
7D
-1.0%
1Y
52.2%
Narrative Update • Jul 20

BAMNB: Fair Outlook Hinges On Sustained Earnings Momentum And Completed Buyback

Analysts have lifted their fair value estimate for Koninklijke BAM Groep from €11.23 to €12.48, citing stronger earnings momentum and modestly improved assumptions for growth, margins and future P/E. What’s in the News for Koninklijke BAM Groep Koninklijke BAM Groep completed a share buyback tranche, repurchasing 3,613,070 shares between February 19, 2026 and July 9, 2026.
ARCAD
€34.68
Arcadis
7D
0.6%
1Y
-18.7%
RAND
€32.88
Randstad
7D
8.1%
1Y
-22.0%
CSG
€14.07
CSG
7D
6.3%
1Y
n/a
HEIJM
€96.35
Koninklijke Heijmans
7D
-0.6%
1Y
71.1%
Analysis Article • Jul 16

Is Koninklijke Heijmans N.V. (AMS:HEIJM) Potentially Undervalued?

While Koninklijke Heijmans N.V. ( AMS:HEIJM ) might not have the largest market cap around , it received a lot of...
WKL
€61.42
Wolters Kluwer
7D
-1.6%
1Y
-55.7%
FUR
€9.79
Fugro
7D
2.8%
1Y
-21.3%
Narrative Update • Jul 10

FUR: New Contract And Margin Outlook Will Shape Fairly Valued Shares

Analysts have raised their fair value estimate for Fugro from €7.50 to €10.00, citing updated assumptions for revenue growth, profit margins, and the stock's future P/E as the main drivers of the higher price target. What’s in the News for Fugro Fugro secured a contract from Saipem to deliver integrated marine survey and inspection services for the Northern Endurance Partnership carbon capture transportation and storage project off the UK coast.
IMCD
€88.34
IMCD
7D
2.5%
1Y
-21.6%
Narrative Update • Jul 09

IMCD: Global Expansion And Dividend Reset Will Support Future Upside

Analysts have modestly lifted the fair value anchor for IMCD, with a price target moving from about €107.68 to €112.50 as they factor in updated assumptions on growth, margins and valuation, alongside mixed recent Street views, including a higher €105 target from Morgan Stanley and a downgrade with a €75 target from JPMorgan. Analyst Commentary Recent research on IMCD points to a split view, with some bullish analysts focusing on valuation support and others, including JPMorgan, highlighting earnings risks and less compelling pricing versus peers.
THEON
€32.04
Theon International
7D
0.6%
1Y
6.4%
SIFG
€4.20
Sif Holding
7D
-4.4%
1Y
-51.4%
TWEKA
€42.44
TKH Group
7D
-1.3%
1Y
11.2%
Narrative Update • Jun 30

TWEKA: Higher Required Returns And P/E Repricing Will Support Future Upside

Analysts have raised their price target for TKH Group from €49.64 to €54.21, citing updated assumptions for revenue growth, profit margins and the future P/E multiple in their valuation work. What’s in the News for TKH Group Analysts updated their valuation work on TKH Group, revising the price target from €49.64 to €54.21 based on refreshed assumptions for revenue, profit margins and the future P/E multiple.
ENVI
€3.80
Envipco Holding
7D
9.4%
1Y
-48.2%
Narrative Update • Jun 26

ENVI: Upcoming UK And Poland DRS Deployments Will Support Stronger Outlook

Analysts have raised their price target on Envipco Holding to €8.05 from €6.50, reflecting updated assumptions for revenue growth, profit margins and future P/E levels in their valuation work. What's in the News Envipco Holding signed the final Reverse Vending Machine (RVM) supply contract with Iceland Foods in the UK, covering approximately 1,500 Compact RVMs with service included, with deliveries planned from spring 2027 through the UK Deposit Return Scheme (DRS) launch in October 2027.
LIGHT
€16.13
Signify
7D
-0.9%
1Y
-30.5%
FERGR
€7.90
Ferrari Group
7D
1.7%
1Y
-14.8%
NXFIL
€3.67
NX Filtration
7D
-7.8%
1Y
4.6%
Narrative Update • Jun 23

NXFIL: Steady Fair Value And Higher Margins Will Support Future Earnings

Analysts have adjusted their price target on NX Filtration to €4.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E that together point to a more finely balanced risk and return profile for the stock. What's in the News for NX Filtration No recent NX Filtration company news, earnings releases or key developments were provided in the available sources.
PNL
€0.90
PostNL
7D
-3.7%
1Y
-4.5%