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Dutch (AEX) Market Analysis & Valuation

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies98
  • 7D-1.1%
  • 3M12.0%
  • 1Y17.9%
  • YTD15.1%

Over the last 7 days, the market has dropped 1.1%, driven by a decline of 4.4% in the Information Technology sector. As for the longer term, the market has actually risen by 18% in the last year. Looking forward, earnings are forecast to grow by 12% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sat, 25 Feb 2023€883.4b€554.3b€48.1b16x18.4x1.6x
Mon, 23 Jan 2023€891.7b€540.7b€53.9b15.2x16.6x1.6x
Wed, 21 Dec 2022€823.5b€543.4b€54.3b14.2x15.2x1.5x
Fri, 18 Nov 2022€849.1b€545.8b€67.9b14.2x12.5x1.6x
Price to Earnings Ratio

12.5x


Total Market Cap: €849.1bTotal Earnings: €67.9bTotal Revenue: €545.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 18.9x202320242025
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 18.9x.
Past Earnings Growth
  • The earnings for Dutch listed companies have declined 7.6% 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-1.15%
Healthcare3.81%
Consumer Staples2.79%
Consumer Discretionary2.64%
Materials1.64%
Utilities0%0
Financials-0.097%
Telecom-0.35%
Real Estate-0.60%
Energy-3.27%
Tech-4.38%
Industrials-6.62%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 39.0x.
    • Analysts are expecting annual earnings growth of 13.0%, 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 37% over the next 5 years.
  • In contrast, the Telecom sector is expected to see its earnings decline by 3.1% 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
PRX Prosus€61.702.7%
+€3.6b
61.0%PE12.6xConsumer Discretionary
INGA ING Groep€22.703.6%
+€2.3b
50.2%PB1.3xFinancials
HEIA Heineken€69.683.7%
+€1.4b
-4.3%PE21.3xConsumer Staples
CCEP Coca-Cola Europacific Partners€78.303.4%
+€1.1b
7.4%PE23xConsumer Staples
ABN ABN AMRO Bank€27.304.3%
+€930.2m
75.7%PB0.8xFinancials
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