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Dutch (AEX) Market Analysis & Valuation

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies100
  • 7D-5.5%
  • 3M2.7%
  • 1Y14.4%
  • YTD-1.6%

Over the last 7 days, the market has dropped 5.5%, driven by pullbacks in every sector, especially the Information Technology sector. As for the longer term, the market has actually risen by 14% in the last year. As for the next few years, earnings are expected to grow by 13% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Mar 2026€1.2t€539.2b€60.8b16x19.7x2.2x
Wed, 18 Feb 2026€1.3t€526.1b€58.4b18x22.1x2.5x
Fri, 16 Jan 2026€1.2t€539.0b€54.8b17.1x22.5x2.3x
Sun, 14 Dec 2025€1.1t€540.9b€54.7b16.5x20.2x2x
Tue, 11 Nov 2025€1.1t€533.4b€53.6b16.9x20.6x2.1x
Thu, 09 Oct 2025€1.1t€535.3b€53.1b17.2x20.8x2.1x
Sat, 06 Sep 2025€1.0t€550.1b€67.6b16.8x14.9x1.8x
Mon, 04 Aug 2025€976.3b€544.4b€65.8b17.2x14.8x1.8x
Wed, 02 Jul 2025€1.0t€542.2b€62.0b18.7x16.7x1.9x
Fri, 30 May 2025€1.0t€543.8b€58.4b18.8x17.8x1.9x
Sun, 27 Apr 2025€957.0b€543.3b€57.9b17.2x16.5x1.8x
Tue, 25 Mar 2025€1.0t€567.6b€58.5b18x17.4x1.8x
Thu, 20 Feb 2025€1.1t€572.0b€57.7b17.9x18.7x1.9x
Sat, 18 Jan 2025€1.0t€566.6b€51.8b16.6x19.7x1.8x
Mon, 16 Dec 2024€1.0t€562.3b€51.5b17.2x19.5x1.8x
Wed, 13 Nov 2024€961.9b€561.0b€50.6b17x19x1.7x
Fri, 11 Oct 2024€1.0t€561.8b€52.7b18.1x19.8x1.9x
Sun, 08 Sep 2024€985.2b€566.7b€40.1b16.1x24.6x1.7x
Tue, 06 Aug 2024€973.6b€564.1b€40.4b15.5x24.1x1.7x
Thu, 04 Jul 2024€1.1t€561.4b€41.1b16.2x27.3x2x
Sat, 01 Jun 2024€1.1t€561.5b€44.5b17.8x24.4x1.9x
Mon, 29 Apr 2024€1.0t€564.7b€45.1b15.6x23.1x1.8x
Wed, 27 Mar 2024€1.0t€550.9b€45.9b16.4x22.6x1.9x
Fri, 23 Feb 2024€1.0t€566.3b€48.4b16.3x20.9x1.8x
Sun, 21 Jan 2024€910.2b€590.7b€60.2b15.8x15.1x1.5x
Tue, 19 Dec 2023€931.0b€594.9b€60.2b16.3x15.5x1.6x
Thu, 16 Nov 2023€877.7b€597.3b€59.4b15.8x14.8x1.5x
Sat, 14 Oct 2023€819.8b€593.3b€50.5b15.7x16.2x1.4x
Mon, 11 Sep 2023€885.3b€588.9b€49.2b17x18x1.5x
Wed, 09 Aug 2023€902.4b€574.2b€47.4b16.1x19.1x1.6x
Fri, 07 Jul 2023€901.5b€582.6b€52.0b16.5x17.3x1.5x
Sun, 04 Jun 2023€918.6b€585.5b€48.3b16.9x19x1.6x
Tue, 02 May 2023€867.4b€573.0b€49.1b17.4x17.7x1.5x
Thu, 30 Mar 2023€889.2b€565.5b€50.6b16x17.6x1.6x
Price to Earnings Ratio

17.6x


Total Market Cap: €889.2bTotal Earnings: €50.6bTotal Revenue: €565.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 19.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Dutch market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 19.4x.
Past Earnings Growth
  • The earnings for Dutch listed companies have grown 6.3% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market-5.54%
Utilities0%0
Industrials-1.22%
Energy-1.38%
Financials-2.39%
Materials-5.30%
Real Estate-5.40%
Healthcare-5.60%
Tech-5.68%
Consumer Staples-5.89%
Telecom-9.04%
Consumer Discretionary-13.86%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 38.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.2%, which is higher than its past year's earnings growth of 5.5% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 12.2x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 20% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Energy sector is expected to see its earnings decline by 15% 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
SWICH SWI Capital Holding€5.408.0%
+€172.2m		n/an/aFinancials
THEON Theon International€32.402.0%
+€51.1m		48.3%PE35xIndustrials
BAMNB Koninklijke BAM Groep€8.690.9%
+€21.0m		65.4%PE10.8xIndustrials
ENVI Envipco Holding€4.956.2%
+€19.2m		-14.7%PS3.6xIndustrials
PHARM Pharming Group€1.360.7%
+€6.2m		69.8%PE377.7xHealthcare
See more

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