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Dutch (AEX) Industrials Sector Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies26
  • 7D-2.9%
  • 3M-17.6%
  • 1Y-29.3%
  • YTD-16.8%

Over the last 7 days, the Industrials industry has dropped 2.9%, driven by a pullback from CSG of 14%. Meanwhile, Aalberts actually outperformed within the industry, gaining 15% in the last week. However, the industry is down 29% over the past year. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 May 2026€101.1b€77.7b€3.6b19.4x28.3x1.3x
Mon, 06 Apr 2026€107.8b€77.8b€3.7b17.5x29.4x1.4x
Wed, 04 Mar 2026€113.4b€76.7b€3.6b21x31.4x1.5x
Fri, 30 Jan 2026€87.2b€71.0b€2.8b22.1x31.5x1.2x
Sun, 28 Dec 2025€55.4b€71.1b€2.8b19.9x20x0.8x
Tue, 25 Nov 2025€55.2b€71.1b€2.8b19x19.9x0.8x
Thu, 23 Oct 2025€63.9b€71.1b€2.8b19.9x22.4x0.9x
Sat, 20 Sep 2025€64.5b€71.1b€2.9b20.7x22.5x0.9x
Mon, 18 Aug 2025€66.3b€70.9b€2.7b21x24.3x0.9x
Wed, 16 Jul 2025€74.5b€71.1b€2.9b19.5x25.4x1x
Fri, 13 Jun 2025€77.5b€71.1b€2.9b18.9x26.5x1.1x
Sun, 11 May 2025€78.2b€71.1b€3.0b18.1x26x1.1x
Tue, 08 Apr 2025€68.1b€71.3b€3.0b18.1x22.9x1x
Thu, 06 Mar 2025€77.8b€71.1b€3.0b21.4x26.3x1.1x
Sat, 01 Feb 2025€86.1b€70.6b€3.4b18.5x25.2x1.2x
Mon, 30 Dec 2024€82.1b€70.6b€3.4b17.6x24.5x1.2x
Wed, 27 Nov 2024€81.3b€70.6b€3.4b17.9x24.2x1.2x
Fri, 25 Oct 2024€84.0b€70.5b€3.3b17.8x25.2x1.2x
Sun, 22 Sep 2024€83.1b€70.8b€3.4b15.7x24.4x1.2x
Tue, 20 Aug 2024€80.9b€70.6b€3.4b15.7x24.1x1.1x
Thu, 18 Jul 2024€82.6b€70.4b€3.4b16.6x24.6x1.2x
Sat, 15 Jun 2024€83.2b€70.3b€3.3b22.2x24.9x1.2x
Mon, 13 May 2024€83.8b€70.2b€3.3b20x25.3x1.2x
Wed, 10 Apr 2024€81.8b€70.8b€3.3b16x24.4x1.2x
Fri, 08 Mar 2024€81.9b€70.6b€3.4b14.7x24.2x1.2x
Sun, 04 Feb 2024€86.9b€76.6b€2.7b16.6x31.9x1.1x
Tue, 02 Jan 2024€86.7b€76.8b€2.7b17.1x31.6x1.1x
Thu, 30 Nov 2023€82.4b€76.8b€2.7b16.7x30x1.1x
Sat, 28 Oct 2023€74.3b€76.7b€2.7b16.7x27.5x1x
Mon, 25 Sep 2023€77.2b€77.6b€2.8b21x27.7x1x
Wed, 23 Aug 2023€77.4b€77.5b€2.9b19.7x27.1x1x
Fri, 21 Jul 2023€79.2b€77.2b€3.1b22.7x25.6x1x
Sun, 18 Jun 2023€81.0b€79.0b€3.2b21.9x25x1x
Tue, 16 May 2023€73.2b€75.6b€3.0b20.6x24x1x
Price to Earnings Ratio

24x


Total Market Cap: €73.2bTotal Earnings: €3.0bTotal Revenue: €75.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Industrials Sector Price to Earnings3Y Average 25.9x202420252026
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 25.9x.
  • 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 5.4% 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 Market3.51%
Industrials-2.92%
Machinery13.21%
Electrical4.57%
Construction2.15%
Logistics0.35%
Aerospace & Defense0%0
Commercial Services0%0
Building-1.35%
Professional Services-4.13%
Trade Distributors-5.28%
Industry PE
  • Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 62.5x.
    • Analysts are expecting annual earnings growth of 15.4%, 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 28% over the next 5 years.
  • This is better than its past earnings decline of 32% per year.
  • In contrast, the Professional Services industry is expected to see its earnings grow by 8.8% 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
AALB Aalberts€37.0614.8%
+€511.1m		24.5%PE26.6x
HEIJM Koninklijke Heijmans€90.955.7%
+€134.6m		86.1%PE19.2x
TWEKA TKH Group€46.446.7%
+€116.5m		27.7%PE19.6x
BAMNB Koninklijke BAM Groep€9.663.4%
+€81.0m		50.6%PE11.8x
LIGHT Signify€19.983.4%
+€78.4m		2.4%PE12.3x

Latest News

WKL
€61.90
Wolters Kluwer
7D
-6.8%
1Y
-60.4%
LIGHT
€19.98
Signify
7D
3.4%
1Y
2.4%
TWEKA
€46.44
TKH Group
7D
6.7%
1Y
27.7%
THEON
€30.12
Theon International
7D
-4.6%
1Y
12.8%
Analysis Article • May 08

Results: Theon International Plc Beat Earnings Expectations And Analysts Now Have New Forecasts

As you might know, Theon International Plc ( AMS:THEON ) recently reported its first-quarter numbers. Revenues of €120m...
BAMNB
€9.66
Koninklijke BAM Groep
7D
3.4%
1Y
50.6%
CSG
€15.78
CSG
7D
-14.3%
1Y
n/a
IMCD
€94.86
IMCD
7D
-5.3%
1Y
-20.7%
AALB
€37.06
Aalberts
7D
14.8%
1Y
24.5%
EBUS
€0.29
Ebusco Holding
7D
-11.6%
1Y
-32.6%
ENVI
€4.90
Envipco Holding
7D
6.6%
1Y
-10.9%
Narrative Update • May 05

ENVI: Future UK And Portugal Contracts Will Support Stronger Long Term Outlook

Analysts have reduced their price target for Envipco Holding to €6.50 from €8.57, citing updated assumptions that include a higher discount rate, a revised outlook for revenue growth, a lower profit margin profile and a higher future P/E multiple. What's in the News Appointed as exclusive supplier of Reverse Vending Machines to a UK retailer, with around 2,300 Compact, Flex and Optima units planned.
RAND
€25.54
Randstad
7D
1.6%
1Y
-31.3%
Narrative Update • May 02

RAND: Index Exit And Downgrade Cycle Will Pressure Future Earnings Power

Narrative Update Analysts have trimmed Randstad's price targets, with recent cuts such as Goldman Sachs moving to €33 from €38, citing updated expectations that align with more conservative assumptions, despite steady fair value inputs in the model. Analyst Commentary Recent research has tilted cautious on Randstad, with bearish analysts trimming price targets and, in at least one case, moving to a more negative stance on the shares.
INPST
€15.29
InPost
7D
0.5%
1Y
-3.6%
Narrative Update • May 02

INPST: Parcel Network Execution Will Support Upside Despite Recent Downgrades

Analysts have inched up their fair value estimate for InPost to €17.23 from €17.05, reflecting slightly higher revenue growth assumptions, offset by a small trim to profit margin and P/E expectations following recent downgrades from major banks. Analyst Commentary Bullish Takeaways Bullish analysts point to the revised fair value of €17.23 as support for a view that InPost can still justify a relatively full P/E, even after recent sector and stock specific downgrades.
ARCAD
€36.08
Arcadis
7D
-0.9%
1Y
-20.9%
Narrative Update • Apr 30

ARCAD: Post Earnings Strategy Reset Will Support Sector Weight ReRating Potential

Analysts have kept their €49.00 price target for Arcadis unchanged, reflecting updated views that incorporate slightly softer revenue growth assumptions, a modestly higher profit margin outlook, and recent Street research highlighting deeper operational challenges and a potential need for a major strategy reset following the downgrade to Sector Weight. Analyst Commentary Recent Street research has shifted from earlier optimism to a more cautious stance, with attention moving away from valuation discounts and toward execution risks and the scale of the challenges facing the new leadership team.
HEIJM
€90.95
Koninklijke Heijmans
7D
5.7%
1Y
86.1%
FUR
€11.60
Fugro
7D
-6.1%
1Y
8.4%
FERGR
€8.10
Ferrari Group
7D
-0.5%
1Y
4.9%