Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Dutch (AEX) Market Analysis & Valuation

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies99
  • 7D-0.1%
  • 3M10.1%
  • 1Y30.7%
  • YTD15.0%

In the last week, the market has stayed flat, however the Consumer Staples sector stood out, gaining 4.4%. Meanwhile, the market is actually up 31% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Market Valuation and Performance

Has the Dutch Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 10 Jun 2026€1.4t€538.5b€61.4b17.9x22.5x2.6x
Fri, 08 May 2026€1.3t€536.6b€60.4b18.5x21.7x2.4x
Sun, 05 Apr 2026€1.2t€548.1b€60.8b16.5x20.2x2.2x
Tue, 03 Mar 2026€1.3t€521.9b€60.9b17x21.7x2.5x
Thu, 29 Jan 2026€1.3t€537.2b€54.4b17.3x23.4x2.4x
Sat, 27 Dec 2025€1.1t€540.7b€54.7b16.6x20.1x2x
Mon, 24 Nov 2025€1.1t€533.5b€53.6b16.6x19.8x2x
Wed, 22 Oct 2025€1.1t€531.9b€53.5b17.3x20.7x2.1x
Fri, 19 Sep 2025€1.1t€549.7b€67.5b16.6x15.9x2x
Sun, 17 Aug 2025€1.0t€547.5b€65.7b16.7x15.4x1.8x
Tue, 15 Jul 2025€1.0t€542.8b€62.1b19.4x16.8x1.9x
Thu, 12 Jun 2025€1.1t€543.1b€58.3b19.3x18.2x2x
Sat, 10 May 2025€1.0t€544.4b€58.7b18.7x17.2x1.8x
Mon, 07 Apr 2025€911.5b€543.6b€57.3b16.5x15.9x1.7x
Wed, 05 Mar 2025€1.0t€567.0b€59.2b18x17.3x1.8x
Fri, 31 Jan 2025€1.0t€567.7b€52.6b17.1x19.1x1.8x
Sun, 29 Dec 2024€991.0b€562.8b€51.6b16.1x19.2x1.8x
Tue, 26 Nov 2024€976.8b€561.9b€50.6b16.9x19.3x1.7x
Thu, 24 Oct 2024€1.0t€563.3b€52.8b17.8x19x1.8x
Sat, 21 Sep 2024€1.0t€566.6b€40.0b16.8x25.3x1.8x
Mon, 19 Aug 2024€1.0t€564.7b€40.3b15.5x25.9x1.9x
Wed, 17 Jul 2024€1.1t€560.7b€41.0b16.3x27.3x2x
Fri, 14 Jun 2024€1.1t€562.2b€44.6b17.5x25.5x2x
Sun, 12 May 2024€1.1t€561.8b€44.3b18.7x24.5x1.9x
Tue, 09 Apr 2024€1.1t€565.6b€45.2b16.5x23.3x1.9x
Thu, 07 Mar 2024€1.0t€566.7b€48.8b16.6x20.9x1.8x
Sat, 03 Feb 2024€973.4b€579.8b€52.7b16.2x18.5x1.7x
Mon, 01 Jan 2024€917.1b€594.0b€60.0b16.8x15.3x1.5x
Wed, 29 Nov 2023€870.8b€596.2b€59.2b15.8x14.7x1.5x
Fri, 27 Oct 2023€801.8b€593.2b€52.5b15.9x15.3x1.4x
Sun, 24 Sep 2023€825.9b€592.0b€50.3b16.7x16.4x1.4x
Tue, 22 Aug 2023€860.9b€572.3b€47.3b16.5x18.2x1.5x
Thu, 20 Jul 2023€928.2b€581.5b€52.0b16.9x17.9x1.6x
Sat, 17 Jun 2023€921.0b€585.4b€48.2b17x19.1x1.6x
Price to Earnings Ratio

19.1x


Total Market Cap: €921.0bTotal Earnings: €48.2bTotal Revenue: €585.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 19.6x202420252026
Current Market PE
  • Investors are optimistic on the Dutch market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 22.5x which is higher than its 3-year average PE of 19.6x.
Past Earnings Growth
  • The earnings for Dutch listed companies have grown 8.4% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.7% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market-0.14%
Consumer Staples4.40%
Healthcare3.49%
Tech2.91%
Energy-0.65%
Industrials-1.67%
Real Estate-2.67%
Financials-4.00%
Telecom-4.76%
Consumer Discretionary-6.42%
Materials-6.71%
Utilities-7.14%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 39.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.2%, which is higher than its past year's earnings growth of 15.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 21% over the next 5 years.
  • However this is lower than its past earnings growth rate of 32% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 6.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ASML ASML Holding€1.51k1.5%
+€8.5b		118.4%PE57.9xTech
CCEP Coca-Cola Europacific Partners€85.107.3%
+€2.6b		5.6%PE19.4xConsumer Staples
HEIA Heineken€69.765.6%
+€2.0b		-12.9%PE19.9xConsumer Staples
DSFIR DSM-Firmenich€71.504.8%
+€815.0m		-26.3%PE64.8xMaterials
AD Koninklijke Ahold Delhaize€36.182.6%
+€809.6m		0.5%PE14.1xConsumer Staples
See more

Market Insights

Header cover image
The most anticipated IPO in history lands next week at an expected $1.75 trillion price tag. Part launch business, part Starlink, and increasingly an AI bet — could the SpaceX IPO be carrying a valuation that has no room for error?
Continue reading
Land of the rising yields 📈

Latest News

ABN
€33.25
ABN AMRO Bank
7D
-1.5%
1Y
46.7%
INGA
€25.05
ING Groep
7D
-4.6%
1Y
36.7%
ASML
€1,507.20
ASML Holding
7D
1.5%
1Y
118.4%
WKL
€63.08
Wolters Kluwer
7D
4.7%
1Y
-58.5%
MT
€55.70
ArcelorMittal
7D
-9.1%
1Y
107.1%
Narrative Update • Jun 08

MT: Dividend Strength And Growth Projects Will Support Balanced Future Outlook

Analysts have nudged their price target for ArcelorMittal higher to about €57.75 from roughly €56.46, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Q1 2026 net income of US$575 million and adjusted EPS of US$0.75–US$0.76, with record iron ore production in Liberia and reported improvement in EBITDA margins, according to recent earnings reports.
DSFIR
€71.50
DSM-Firmenich
7D
4.8%
1Y
-26.3%
Narrative Update • Jun 08

DSFIR: Share Buyback And Dual Listing Will Support Re Rating

Analysts have adjusted the DSM-Firmenich price target to reflect a slightly higher fair value, moving from about €98.08 to around €98.68, as recent research points to revised assumptions on revenue growth, profit margins and future P/E. This comes against a mixed backdrop of price target changes across the Street, including moves between €60 and €87.
UMG
€17.75
Universal Music Group
7D
-7.6%
1Y
-36.3%
Narrative Update • Jun 07

UMG: AI Licensing Partnerships Will Drive Future Upside Versus Trimmed Fair Value Estimate

Analysts have adjusted the implied fair value for Universal Music Group to €25.81 from €28.90, reflecting updated assumptions around slightly lower profit margins, a lower future P/E multiple, and higher projected revenue growth, alongside supportive Street research citing UMG's role in new AI driven partnerships with Spotify and recent price target moves from firms such as JPMorgan, Guggenheim, and Citi. Analyst Commentary Recent Street research around Universal Music Group and its partnerships with Spotify gives you a mix of optimism and caution to weigh against the revised fair value estimate.
APAM
€48.46
Aperam
7D
-8.7%
1Y
76.6%
Narrative Update • Jun 06

APAM: Index Inclusion And Mixed Sector Outlook Will Shape Future Risk Profile

Narrative Update: Aperam The analyst price target for Aperam has moved from about €42.70 to roughly €47.40, reflecting updated assumptions on revenue growth, profit margins, and a lower P/E multiple in line with recent target increases from several covering analysts. Analyst Commentary Recent research on Aperam has been mixed, with several bullish analysts lifting price targets alongside a key downgrade from JPMorgan that highlights macro and sector risks.
CSG
€14.33
CSG
7D
-7.3%
1Y
n/a
ADYEN
€803.10
Adyen
7D
-5.3%
1Y
-53.4%
AD
€36.18
Koninklijke Ahold Delhaize
7D
2.6%
1Y
0.5%
Narrative Update • Jun 04

AD: Higher Long Term Revenue And P E Assumptions Will Support Upside

Analysts have kept the fair value estimate for Koninklijke Ahold Delhaize steady at €47.00, while adjusting assumptions such as revenue growth, discount rate, and future P/E, reflecting recent mixed price target moves and more cautious views on U.S. food volume and SNAP funding. Analyst Commentary Recent research has sent mixed messages on Koninklijke Ahold Delhaize, with some firms turning more cautious on U.S. food volume trends and SNAP funding, while others have adjusted price targets upward.
CCEP
€85.10
Coca-Cola Europacific Partners
7D
7.3%
1Y
5.6%
HEIA
€69.76
Heineken
7D
5.6%
1Y
-12.9%
PRX
€39.90
Prosus
7D
-0.9%
1Y
-15.8%
Narrative Update • Jun 01

PRX: Future Upside Will Depend On Delivering Against Recalibrated Expectations

Narrative update on Prosus Analysts have trimmed their average price targets on Prosus by several euros, with recent cuts such as €74 to €73 and €74 to €57. These changes reflect updated views on growth, profitability and future P/E assumptions, even as fair value in this framework holds steady at €51.00.
MICC
€15.36
Magnum Ice Cream
7D
6.4%
1Y
n/a
HEIO
€63.55
Heineken Holding
7D
4.7%
1Y
-8.1%