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Dutch (AEX) Market Analysis & Valuation

UpdatedJul 19, 2025
DataAggregated Company Financials
Companies100
  • 7D-1.2%
  • 3M12.6%
  • 1Y-0.8%
  • YTD5.4%

Over the last 7 days, the market has dropped 1.2%, driven by a decline of 6.5% in the Information Technology sector. Although the market performance has been flat over the past year. Looking forward, earnings are forecast to grow by 9.4% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Wed, 02 Nov 2022€763.2b€510.2b€70.8b13.6x10.8x1.5x
Fri, 30 Sep 2022€727.9b€513.6b€74.1b12.1x9.8x1.4x
Sun, 28 Aug 2022€838.1b€510.4b€73.3b13.9x11.4x1.6x
Tue, 26 Jul 2022€868.8b€521.0b€76.0b15.8x11.4x1.7x
Price to Earnings Ratio

11.4x


Total Market Cap: €868.8bTotal Earnings: €76.0bTotal Revenue: €521.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 18.1x202320242025
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 18.1x.
Past Earnings Growth
  • The earnings for Dutch listed companies have declined 6.1% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market-1.16%
Healthcare3.13%
Consumer Discretionary2.81%
Real Estate2.18%
Consumer Staples1.65%
Telecom1.04%
Financials0.73%
Industrials0.39%
Energy-1.31%
Materials-2.39%
Utilities-3.57%
Tech-6.49%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 44.6x.
    • This is likely because analysts are expecting annual earnings growth of 31.9% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 32% over the next 5 years.
  • In contrast, the Consumer Discretionary sector is expected to see its earnings decline by 3.4% 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
PRX Prosus€49.812.9%
+€3.0b
55.0%PE10.3xConsumer Discretionary
ADYEN Adyen€1.56k2.4%
+€1.2b
39.4%PE53xFinancials
HEIA Heineken€77.242.3%
+€973.7m
-13.6%PE44.2xConsumer Staples
CCEP Coca-Cola Europacific Partners€83.402.6%
+€945.7m
23.7%PE26.9xConsumer Staples
PHIA Koninklijke Philips€21.213.2%
+€616.2m
-10.7%PE84.5xHealthcare
See more

Market Insights

The tide is turning for UK & European markets. Index ETFs won’t cut it since sector spreads are massive. Picking the right companies matters now more than ever.

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