Dutch (AEX) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 15 Jun 2026	€1.4t	€538.3b	€61.3b	18.3x	23.6x	2.7x
Wed, 13 May 2026	€1.3t	€536.8b	€60.6b	18x	21x	2.4x
Fri, 10 Apr 2026	€1.3t	€547.0b	€60.6b	17x	21.2x	2.3x
Sun, 08 Mar 2026	€1.2t	€538.0b	€60.6b	16.3x	20.5x	2.3x
Tue, 03 Feb 2026	€1.3t	€540.0b	€56.1b	17.3x	22.9x	2.4x
Thu, 01 Jan 2026	€1.1t	€540.8b	€54.7b	16.6x	20.4x	2.1x
Sat, 29 Nov 2025	€1.1t	€533.6b	€54.3b	17.1x	20.2x	2.1x
Mon, 27 Oct 2025	€1.1t	€531.3b	€53.1b	17.3x	21x	2.1x
Wed, 24 Sep 2025	€1.1t	€534.2b	€52.8b	16.6x	20.2x	2x
Fri, 22 Aug 2025	€1.0t	€549.5b	€65.9b	17.4x	15.4x	1.8x
Sun, 20 Jul 2025	€1.0t	€544.4b	€62.8b	19.3x	16.5x	1.9x
Tue, 17 Jun 2025	€1.0t	€542.7b	€58.3b	18.7x	17.8x	1.9x
Thu, 15 May 2025	€1.0t	€544.9b	€58.7b	18.9x	17.8x	1.9x
Sat, 12 Apr 2025	€904.0b	€541.2b	€57.1b	16x	15.8x	1.7x
Mon, 10 Mar 2025	€1.0t	€561.6b	€58.3b	18x	17.7x	1.8x
Wed, 05 Feb 2025	€1.0t	€568.0b	€52.6b	17x	19.3x	1.8x
Fri, 03 Jan 2025	€995.0b	€564.0b	€51.7b	16.2x	19.3x	1.8x
Sun, 01 Dec 2024	€980.1b	€561.3b	€50.4b	16.6x	19.4x	1.7x
Tue, 29 Oct 2024	€1.0t	€562.9b	€52.8b	18.1x	18.9x	1.8x
Thu, 26 Sep 2024	€1.0t	€560.6b	€52.6b	16.9x	19.5x	1.8x
Sat, 24 Aug 2024	€1.0t	€566.1b	€40.0b	15.7x	26.1x	1.8x
Mon, 22 Jul 2024	€1.1t	€560.1b	€40.8b	16.5x	25.9x	1.9x
Wed, 19 Jun 2024	€1.1t	€562.3b	€44.6b	17.5x	25.2x	2x
Fri, 17 May 2024	€1.1t	€561.4b	€44.5b	18.9x	24.8x	2x
Sun, 14 Apr 2024	€1.0t	€522.7b	€46.0b	16.7x	22.7x	2x
Tue, 12 Mar 2024	€1.0t	€562.4b	€45.5b	16.9x	22.2x	1.8x
Thu, 08 Feb 2024	€983.6b	€570.4b	€52.4b	15.1x	18.8x	1.7x
Sat, 06 Jan 2024	€893.0b	€590.2b	€60.1b	16.2x	14.9x	1.5x
Mon, 04 Dec 2023	€883.9b	€597.4b	€60.4b	15.4x	14.6x	1.5x
Wed, 01 Nov 2023	€804.5b	€592.5b	€52.7b	15.6x	15.3x	1.4x
Fri, 29 Sep 2023	€815.6b	€592.6b	€50.4b	16.5x	16.2x	1.4x
Sun, 27 Aug 2023	€892.8b	€573.6b	€46.6b	17.2x	19.2x	1.6x
Tue, 25 Jul 2023	€914.0b	€582.7b	€51.9b	17.1x	17.6x	1.6x
Thu, 22 Jun 2023	€895.0b	€583.7b	€48.0b	16.6x	18.6x	1.5x

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 23.6x which is higher than its 3-year average PE of 19.7x.

Past Earnings Growth

The earnings for Dutch listed companies have grown 8.5% 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	6.08%
Tech	11.98%
Consumer Staples	4.20%
Materials	3.33%
Real Estate	1.75%
Financials	1.00%
Healthcare	0.44%
Telecom	-0.47%
Industrials	-0.47%
Energy	-0.70%
Consumer Discretionary	-1.78%
Utilities	-4.00%

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?

Company	Last Price	7D	1Y	Valuation	Sector
ASML ASML Holding	€1.63k	11.4% +€64.4b	145.2%	PE62.6x	Tech
ASM ASM International	€1.02k	17.1% +€7.2b	95.4%	PE50.1x	Tech
BESI BE Semiconductor Industries	€317.00	16.8% +€3.6b	151.8%	PE165.4x	Tech
HEIA Heineken	€70.52	5.7% +€2.0b	-9.7%	PE20.1x	Consumer Staples
CCEP Coca-Cola Europacific Partners	€85.20	4.9% +€1.8b	5.3%	PE19.4x	Consumer Staples

Company

Last Price

Valuation

Sector

ASML ASML Holding

€1.63k

11.4%
+€64.4b

145.2%

PE62.6x

Tech

ASM ASM International

€1.02k

17.1%
+€7.2b

95.4%

PE50.1x

Tech

BESI BE Semiconductor Industries

€317.00

16.8%
+€3.6b

151.8%

PE165.4x

Tech

HEIA Heineken

€70.52

5.7%
+€2.0b

-9.7%

PE20.1x

Consumer Staples

CCEP Coca-Cola Europacific Partners

€85.20

4.9%
+€1.8b

5.3%

PE19.4x

Consumer Staples

Arcadis And Jupiter Intelligence Launch PRICE Adaptation Framework To Help Organizations Compare Climate Adaptation Options And Prioritize Resilience Spending

Arcadis and Jupiter Intelligence launched the PRICE Adaptation Framework, a decision-grade methodology designed to help organizations compare climate adaptation options, quantify return on investment and prioritize resilience spending. The PRICE framework combines climate hazard modeling, engineering insight and economic analysis to help organizations evaluate where adaptation investments deliver the greatest long-term value, and in turn, enable better funding decisions. The methodology is a five step decision approach designed to help organizations: 1) Pinpoint loss drivers: Identify the primary drivers of climate-related financial loss; 2) Rank adaptation options: Compare adaptation interventions side-by-side; 3) Investment case: Quantify avoided losses and ROI; 4) Capital strategy: Connect resilience decisions to funding and capital strategies; 5) Execute and evidence: Translate adaptation planning into measurable delivery outcomes. The PRICE methodology is supported with decision intelligence at different stages through Arcadis' Climate Risk Nexus and Enterprise Decision Analytics (EDA), as well as Jupiter Intelligence's Adaptation Hub capabilities, enabling organizations to model, compare and prioritize adaptation scenarios across infrastructure systems, portfolios and communities. Arcadis and Jupiter Intelligence have already tested the methodology across real-world scenarios. In Houston, Texas, the teams analyzed 100 single-family homes in the flood-prone Meyerland neighborhood to assess the ROI potential of dry floodproofing measures. The analysis showed positive ROI outcomes for 52% of locations assessed. In Slovenia, the methodology was used to evaluate flood mitigation options for an industrial facility that had previously experienced up to USD 60 million in flood-related losses from a single event. A modeled flood wall intervention demonstrated a projected ROI of 245%. These test cases demonstrate how the methodology supports a broader shift from climate risk identification toward evidence-based resilience investment and implementation. The PRICE methodology applies across a broad range of clients, including real estate and property owners, and city and transit agencies. Arcadis is already seeing strong results from this approach on projects with the State University of New York, Northeast US regional transit clients, and major real estate owners seeking practical frameworks to move from climate risk awareness to prioritized, actionable investment decisions.

Dutch (AEX) Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

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