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Dutch (AEX) Industrials Sector Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies23
  • 7D0.2%
  • 3M-13.1%
  • 1Y-30.8%
  • YTD-31.6%

Over the last 7 days, the Industrials industry has remained flat, although notably Randstad gained 4.0%. As for the longer term, the industry has declined 31% in the last year. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Dec 2025€55.8b€71.1b€2.8b20.1x20.1x0.8x
Thu, 27 Nov 2025€55.7b€71.1b€2.8b19x20.1x0.8x
Sat, 25 Oct 2025€64.5b€70.9b€2.8b20.4x22.8x0.9x
Mon, 22 Sep 2025€64.5b€71.1b€2.9b20.7x22.5x0.9x
Wed, 20 Aug 2025€66.5b€70.9b€2.7b21.4x24.3x0.9x
Fri, 18 Jul 2025€75.0b€71.1b€2.9b19.4x25.6x1.1x
Sun, 15 Jun 2025€76.0b€71.1b€2.9b18.7x26x1.1x
Tue, 13 May 2025€78.7b€71.1b€3.0b18.8x26.2x1.1x
Thu, 10 Apr 2025€68.9b€71.3b€3.0b18.1x23.2x1x
Sat, 08 Mar 2025€77.7b€71.0b€2.9b22x26.5x1.1x
Mon, 03 Feb 2025€86.1b€70.6b€3.4b18.5x25.2x1.2x
Wed, 01 Jan 2025€82.4b€70.6b€3.4b18x24.6x1.2x
Fri, 29 Nov 2024€81.2b€70.6b€3.4b17.6x24.2x1.1x
Sun, 27 Oct 2024€84.7b€70.4b€3.4b18x25.2x1.2x
Tue, 24 Sep 2024€83.1b€70.8b€3.4b15.7x24.4x1.2x
Thu, 22 Aug 2024€81.1b€70.6b€3.4b15.4x24.2x1.1x
Sat, 20 Jul 2024€82.0b€70.4b€3.4b16.3x24.4x1.2x
Mon, 17 Jun 2024€83.2b€70.3b€3.4b19.5x24.8x1.2x
Wed, 15 May 2024€83.7b€70.2b€3.3b20.4x25.3x1.2x
Fri, 12 Apr 2024€82.1b€70.8b€3.3b16x24.5x1.2x
Sun, 10 Mar 2024€82.1b€70.6b€3.4b15.4x24.3x1.2x
Tue, 06 Feb 2024€77.8b€70.6b€2.3b14.8x33.2x1.1x
Thu, 04 Jan 2024€84.7b€76.8b€2.7b16.7x30.9x1.1x
Sat, 02 Dec 2023€83.2b€76.9b€2.7b16.8x30.3x1.1x
Mon, 30 Oct 2023€74.3b€76.7b€2.7b16.7x27.5x1x
Wed, 27 Sep 2023€76.7b€77.6b€2.8b21x27.5x1x
Fri, 25 Aug 2023€77.5b€77.5b€2.8b19.5x27.2x1x
Sun, 23 Jul 2023€79.3b€77.2b€3.1b22.5x25.6x1x
Tue, 20 Jun 2023€99.4b€77.2b€3.1b22.1x32.1x1.3x
Thu, 18 May 2023€76.8b€77.3b€3.2b21.3x24.3x1x
Sat, 15 Apr 2023€75.7b€75.7b€3.1b21.8x24.3x1x
Mon, 13 Mar 2023€75.1b€73.6b€2.9b21.7x25.5x1x
Wed, 08 Feb 2023€73.5b€71.7b€3.7b20.7x19.9x1x
Fri, 06 Jan 2023€69.8b€71.7b€3.8b18.9x18.5x1x
Price to Earnings Ratio

18.5x


Total Market Cap: €69.8bTotal Earnings: €3.8bTotal Revenue: €71.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Industrials Sector Price to Earnings3Y Average 25.1x20242025
Current Industry PE
  • Investors are pessimistic on the Dutch Industrials 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 20.1x which is lower than its 3-year average PE of 25.1x.
  • The 3-year average PS ratio of 1.1x is higher than the industry's current PS ratio of 0.79x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have declined 9.8% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Dutch Industrials sector?

NL Market0.46%
Industrials0.15%
Logistics1.60%
Trade Distributors0.89%
Electrical0.88%
Machinery0.80%
Building0.75%
Aerospace & Defense0%0
Commercial Services0%0
Professional Services-0.022%
Construction-0.61%
Industry PE
  • Investors are most optimistic about the Machinery industry even though it's trading below its 3-year average PE ratio of 60.7x.
    • Analysts are expecting annual earnings growth of 32.7%, which is higher than its past year's earnings decline of 50.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Machinery industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 51% per year.
  • In contrast, the Trade Distributors industry is expected to see its earnings grow by 7.8% 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
RAND Randstad€32.414.0%
+€219.0m		-19.3%PE109.2x
INPST InPost€10.321.5%
+€74.9m		-36.5%PE24.4x
LIGHT Signify€20.921.9%
+€45.4m		-1.1%PE8x
IMCD IMCD€77.100.9%
+€40.1m		-45.0%PE17.1x
ARCAD Arcadis€35.761.4%
+€26.9m		-38.8%PE13x

Latest News

LIGHT
€20.92
Signify
7D
1.9%
1Y
-1.1%

Improved Earnings Required Before Signify N.V. (AMS:LIGHT) Shares Find Their Feet

Dec 30
Improved Earnings Required Before Signify N.V. (AMS:LIGHT) Shares Find Their Feet
TWEKA
€36.54
TKH Group
7D
-0.1%
1Y
11.2%

TWEKA: Higher Future Profitability Expected To Drive Stronger Share Performance

Analysts have raised their price target on TKH Group from €34.00 to €42.00, citing expectations of higher long term profitability and valuation multiples, despite slightly moderating revenue growth assumptions and a marginally higher discount rate. Valuation Changes Fair Value: risen significantly from €34.00 to €42.00, reflecting higher long term return expectations.
INPST
€10.32
InPost
7D
1.5%
1Y
-36.5%

INPST: Parcel Locker Network Expansion Will Drive Future Margin Upside

Narrative Update on InPost Analysts have modestly raised their fair value estimate for InPost from approximately EUR 16.15 to EUR 16.28 per share, even though the Street price target was recently reduced to EUR 15.20. This reflects continued confidence in the company’s long term growth profile and earnings trajectory.
THEON
€26.80
Theon International
7D
-3.9%
1Y
112.7%
BAMNB
€9.19
Koninklijke BAM Groep
7D
-1.0%
1Y
121.0%

Earnings Tell The Story For Koninklijke BAM Groep nv (AMS:BAMNB)

Dec 23
Earnings Tell The Story For Koninklijke BAM Groep nv (AMS:BAMNB)
FUR
€8.47
Fugro
7D
-0.7%
1Y
-48.4%

FUR: Index Removal And Stable Margins Will Drive Future Upside Potential

Analysts have modestly raised their price target on Fugro from €9.80 to €9.80, effectively reaffirming their prior valuation as minor adjustments to the discount rate, revenue growth, and margin assumptions left their overall outlook unchanged. What's in the News Fugro N.V. has been removed from the Euronext 150 Index, which may affect index-linked investor demand and trading volumes (Key Developments) Valuation Changes Fair Value Estimate: unchanged at €9.80 per share, indicating no revision to the core valuation.
SIFG
€6.77
Sif Holding
7D
-0.1%
1Y
-44.1%

Sif Holding (AMS:SIFG) Has Debt But No Earnings; Should You Worry?

Dec 23
Sif Holding (AMS:SIFG) Has Debt But No Earnings; Should You Worry?
AALB
€28.04
Aalberts
7D
0.3%
1Y
-17.6%

AALB: Higher Future Earnings Multiple Will Drive Medium Term Upside

Analysts have modestly raised their price target on Aalberts to €37.75 from €37.75. This change reflects slightly higher long term valuation multiples that partially offset tempered expectations for revenue growth and profit margins.
ARCAD
€35.76
Arcadis
7D
1.4%
1Y
-38.8%
ENVI
€5.36
Envipco Holding
7D
5.5%
1Y
0.2%
RAND
€32.41
Randstad
7D
4.0%
1Y
-19.3%

RAND: Future Upside Will Rely On Margin Discipline Despite Modest Assumption Shifts

Analysts have modestly lowered their price target on Randstad to approximately €40.21 from about €41.18. This reflects a slightly higher discount rate and marginally softer profit margin assumptions, partially offset by firmer expectations for revenue growth.
ALFEN
€10.06
Alfen
7D
-2.3%
1Y
-13.8%
WKL
€88.90
Wolters Kluwer
7D
-1.3%
1Y
-44.2%

WKL: GenAI Expansion And Buybacks Will Support Future Earnings Upside

Analysts have trimmed their price target for Wolters Kluwer slightly, reflecting a marginally lower fair value estimate of EUR 138.00 versus EUR 138.92 previously. This adjustment factors in modestly slower revenue growth assumptions, offset by a stable discount rate, slightly higher profit margin expectations, and a marginally lower future P E multiple.
IMCD
€77.10
IMCD
7D
0.9%
1Y
-45.0%

IMCD Will Likely Gain From New Distribution Deal And Leadership Transition

Analysts have trimmed their fair value estimate for IMCD to approximately €177 from about €182, reflecting slightly higher discount rate assumptions, more moderate revenue growth expectations, and a marginally lower future P/E, partially offset by a firmer margin outlook and recent supportive rating actions despite reduced price targets. Analyst Commentary Bullish analysts continue to frame IMCD as a quality compounder within the specialty chemicals distribution space, highlighting the recent share pullback as an opportunity rather than a sign of structural deterioration.
FERGR
€9.09
Ferrari Group
7D
2.9%
1Y
n/a
EBUS
€0.41
Ebusco Holding
7D
-0.6%
1Y
-62.0%