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

Dutch (AEX) Market Analysis & Valuation

UpdatedNov 25, 2025
DataAggregated Company Financials
Companies98
  • 7D1.4%
  • 3M10.1%
  • 1Y18.4%
  • YTD14.5%

Over the last 7 days, the market has risen 1.4%, driven by gains in the Information Technology and Financials sectors of 2.1% and 3.1%, respectively. On the other hand, with a decline of 4.1%, the Consumer Discretionary sector is lagging behind. In the last year, the market has climbed 18%. As for the next few years, earnings are expected to grow by 12% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 28 Nov 2025€1.1t€533.5b€53.6b16.6x19.9x2x
Sun, 26 Oct 2025€1.1t€531.3b€53.1b17.3x21x2.1x
Tue, 23 Sep 2025€1.1t€534.3b€52.8b16.5x20.1x2x
Thu, 21 Aug 2025€1.0t€547.9b€65.8b16.9x15.5x1.9x
Sat, 19 Jul 2025€1.0t€544.4b€62.8b19.3x16.5x1.9x
Mon, 16 Jun 2025€1.0t€542.8b€58.3b18.7x17.8x1.9x
Wed, 14 May 2025€1.0t€544.7b€58.7b19.1x17.8x1.9x
Fri, 11 Apr 2025€904.0b€542.2b€57.2b16.3x15.8x1.7x
Sun, 09 Mar 2025€1.0t€561.6b€58.3b18x17.7x1.8x
Tue, 04 Feb 2025€1.0t€568.6b€52.7b16.9x19.5x1.8x
Thu, 02 Jan 2025€988.3b€563.3b€51.6b16.3x19.1x1.8x
Sat, 30 Nov 2024€980.5b€561.6b€50.5b16.7x19.4x1.7x
Mon, 28 Oct 2024€1.0t€563.1b€52.8b18x19.1x1.8x
Wed, 25 Sep 2024€1.0t€566.5b€40.0b17x25.6x1.8x
Fri, 23 Aug 2024€1.1t€566.9b€40.0b15.7x26.3x1.9x
Sun, 21 Jul 2024€1.1t€560.1b€40.8b16.5x25.9x1.9x
Tue, 18 Jun 2024€1.1t€562.3b€44.6b17.6x25.1x2x
Thu, 16 May 2024€1.1t€561.1b€44.3b18.8x24.8x2x
Sat, 13 Apr 2024€1.0t€522.7b€46.0b16.7x22.7x2x
Mon, 11 Mar 2024€1.0t€562.3b€45.6b16.9x22.5x1.8x
Wed, 07 Feb 2024€981.1b€570.5b€52.4b15.1x18.7x1.7x
Fri, 05 Jan 2024€895.9b€590.3b€60.1b16.5x14.9x1.5x
Sun, 03 Dec 2023€883.9b€597.4b€60.4b15.4x14.6x1.5x
Tue, 31 Oct 2023€795.3b€592.2b€52.7b15.7x15.1x1.3x
Thu, 28 Sep 2023€812.1b€593.2b€50.4b16.4x16.1x1.4x
Sat, 26 Aug 2023€892.8b€573.7b€46.7b16.2x19.1x1.6x
Mon, 24 Jul 2023€917.0b€582.4b€51.8b17.1x17.7x1.6x
Wed, 21 Jun 2023€904.1b€583.7b€48.0b16.8x18.8x1.5x
Fri, 19 May 2023€912.3b€576.4b€47.7b17.4x19.1x1.6x
Sun, 16 Apr 2023€893.5b€566.8b€47.4b16.7x18.9x1.6x
Tue, 14 Mar 2023€858.4b€554.7b€44.6b15.4x19.2x1.5x
Thu, 09 Feb 2023€907.6b€544.3b€53.8b15.6x16.9x1.7x
Sat, 07 Jan 2023€866.1b€542.9b€54.3b14.9x16x1.6x
Mon, 05 Dec 2022€870.7b€544.8b€54.6b15x15.9x1.6x
Price to Earnings Ratio

15.9x


Total Market Cap: €870.7bTotal Earnings: €54.6bTotal Revenue: €544.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 19x202320242025
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 19.0x.
Past Earnings Growth
  • Both revenue and earnings for Dutch listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market1.35%
Materials3.97%
Healthcare3.56%
Financials3.12%
Energy2.79%
Tech2.12%
Real Estate1.38%
Consumer Staples1.35%
Industrials1.00%
Utilities0%0
Telecom-1.92%
Consumer Discretionary-4.06%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 38.8x.
    • Analysts are expecting annual earnings growth of 12.7%, which is lower than the prior year's growth of 36.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 38% over the next 5 years.
  • In contrast, the Telecom sector is expected to see its earnings decline by 2.1% 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€897.200.8%
+€2.9b		39.6%PE36.7xTech
INGA ING Groep€22.494.4%
+€2.7b		54.0%PB1.3xFinancials
ABN ABN AMRO Bank€29.349.2%
+€2.0b		100.3%PB0.9xFinancials
MT ArcelorMittal€36.654.8%
+€1.3b		55.2%PE12.5xMaterials
ADYEN Adyen€1.35k2.7%
+€1.1b		-1.9%PE42.6xFinancials
See more

Market Insights

Header cover image
🏰 Defensive Stocks Are No Longer Cheap
Richard Bowman avatar
Richard Bowman
|
|
In this piece, we’ll cover the key defensive sectors across the US, Canada, the UK, Europe, and Australia, compare their valuations to the broader market, and highlight where “safety” might actually be expensive risk in disguise.
Continue reading
🇬🇧 London’s IPO Drought and the Hunt for the UK’s Real Winners
Last Week

🇬🇧 London’s IPO Drought and the Hunt for the UK’s Real Winners

Latest News

ALLFG
€8.11
Allfunds Group
7D
22.9%
1Y
48.1%
BESI
€129.90
BE Semiconductor Industries
7D
-0.1%
1Y
17.3%

BESI: Sustained Profit Margins And Buybacks Will Drive Share Gains Ahead

Analysts have raised their price target for BE Semiconductor Industries, increasing it from €147 to €160. They cite sustained strong growth projections and robust profit margins as key factors behind the new valuation.
THEON
€25.75
Theon International
7D
-4.6%
1Y
146.2%
PRX
€53.78
Prosus
7D
-6.4%
1Y
41.9%
ABN
€29.34
ABN AMRO Bank
7D
9.2%
1Y
100.3%
WKL
€91.02
Wolters Kluwer
7D
-0.2%
1Y
-42.0%
ASML
€897.20
ASML Holding
7D
0.8%
1Y
39.6%
ASM
€471.70
ASM International
7D
-5.3%
1Y
-5.7%

ASM: Margin Strength And Upbeat Revenue Guidance Will Lift Shares In 2025

ASM International's analyst price target has increased from €617.05 to €626.16, as analysts cite continued margin strength and a positive outlook, despite a slightly lower revenue growth projection. Analyst Commentary Recent changes in analyst coverage for ASM International reflect differing perspectives on the company's growth outlook and valuation.
MT
€36.65
ArcelorMittal
7D
4.8%
1Y
55.2%

MT: Steady Iron Ore Production And Buybacks Will Drive Measured Financial Progress

Analysts have raised their price target for ArcelorMittal from $34.44 to $36.80, citing modest improvements in profit margin projections and updated valuation assumptions. What's in the News ArcelorMittal completed a share buyback of 2,000,000 shares for €59.55 million, representing 0.26% of shares under the program announced in April 2025 (Key Developments).
PHIA
€24.23
Koninklijke Philips
7D
3.7%
1Y
-6.3%
UMG
€22.03
Universal Music Group
7D
-0.9%
1Y
-2.4%

Investors Met With Slowing Returns on Capital At Universal Music Group (AMS:UMG)

Nov 16
Investors Met With Slowing Returns on Capital At Universal Music Group (AMS:UMG)
ENVI
€4.78
Envipco Holding
7D
-2.8%
1Y
-0.8%
INGA
€22.49
ING Groep
7D
4.4%
1Y
54.0%

INGA: Future Performance Will Rely On Sustained Margin Improvements And Deposit Strength

Analysts have raised their fair value estimate for ING Groep to €22.92 from €22.53. This change reflects improved revenue growth and higher profit margin expectations.
ADYEN
€1,345.80
Adyen
7D
2.7%
1Y
-1.9%
CCEP
€79.50
Coca-Cola Europacific Partners
7D
2.8%
1Y
7.9%

Coca-Cola Europacific Partners' (AMS:CCEP) Shareholders Will Receive A Bigger Dividend Than Last Year

Nov 08
Coca-Cola Europacific Partners' (AMS:CCEP) Shareholders Will Receive A Bigger Dividend Than Last Year
MTRK
€3.93
MotorK
7D
-2.7%
1Y
-29.6%

MotorK plc's (AMS:MTRK) Earnings Haven't Escaped The Attention Of Investors

Oct 31
MotorK plc's (AMS:MTRK) Earnings Haven't Escaped The Attention Of Investors