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Dutch (AEX) Market Analysis & Valuation
UpdatedJul 22, 2025
DataAggregated Company Financials
Companies100
- 7D-1.3%
- 3M11.8%
- 1Y-2.9%
- YTD5.0%
Over the last 7 days, the market has dropped 1.3%, driven by a loss of 7.9% in the Information Technology sector. In contrast, the Consumer Discretionary sector has actually gained 4.2%. In the last 12 months the market has been flat overall. As for the next few years, earnings are expected to grow by 9.4% per annum.
Market Valuation and Performance
Has the Dutch Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 23 Jul 2025 | €1.0t | €544.0b | €62.7b | 19x | 16.4x | 1.9x |
| Fri, 20 Jun 2025 | €1.0t | €543.5b | €58.3b | 17.9x | 17.4x | 1.9x |
| Sun, 18 May 2025 | €1.0t | €545.0b | €58.6b | 18.8x | 17.8x | 1.9x |
| Tue, 15 Apr 2025 | €926.1b | €541.1b | €57.1b | 16.4x | 16.2x | 1.7x |
| Thu, 13 Mar 2025 | €1.0t | €561.5b | €58.2b | 17.7x | 17.4x | 1.8x |
| Sat, 08 Feb 2025 | €1.0t | €572.7b | €57.9b | 17x | 17.7x | 1.8x |
| Mon, 06 Jan 2025 | €988.6b | €563.6b | €51.7b | 16.3x | 19.1x | 1.8x |
| Wed, 04 Dec 2024 | €991.3b | €561.6b | €50.6b | 16.9x | 19.6x | 1.8x |
| Fri, 01 Nov 2024 | €979.9b | €560.3b | €50.9b | 17.6x | 19.2x | 1.7x |
| Sun, 29 Sep 2024 | €1.1t | €560.3b | €52.6b | 17.7x | 20.1x | 1.9x |
| Tue, 27 Aug 2024 | €1.0t | €566.3b | €40.0b | 15.6x | 26x | 1.8x |
| Thu, 25 Jul 2024 | €1.1t | €560.1b | €40.8b | 16.2x | 25.9x | 1.9x |
| Sat, 22 Jun 2024 | €1.1t | €562.6b | €44.7b | 17.2x | 25x | 2x |
| Mon, 20 May 2024 | €1.1t | €561.4b | €44.5b | 18.5x | 24.7x | 2x |
| Wed, 17 Apr 2024 | €1.0t | €567.5b | €46.0b | 16.6x | 22.8x | 1.8x |
| Fri, 15 Mar 2024 | €1.0t | €562.7b | €45.6b | 16.7x | 22.2x | 1.8x |
| Sun, 11 Feb 2024 | €1.0t | €568.2b | €49.7b | 16x | 20.3x | 1.8x |
| Tue, 09 Jan 2024 | €899.7b | €590.1b | €60.1b | 16.3x | 15x | 1.5x |
| Thu, 07 Dec 2023 | €894.9b | €598.1b | €60.5b | 15.6x | 14.8x | 1.5x |
| Sat, 04 Nov 2023 | €839.5b | €602.2b | €60.2b | 15.5x | 13.9x | 1.4x |
| Mon, 02 Oct 2023 | €824.1b | €592.7b | €50.4b | 16.8x | 16.4x | 1.4x |
| Wed, 30 Aug 2023 | €913.6b | €573.3b | €46.6b | 17.3x | 19.6x | 1.6x |
| Fri, 28 Jul 2023 | €955.2b | €584.1b | €55.7b | 17.2x | 17.1x | 1.6x |
| Sun, 25 Jun 2023 | €891.2b | €583.9b | €48.1b | 16.8x | 18.5x | 1.5x |
| Tue, 23 May 2023 | €917.0b | €576.2b | €47.7b | 17.2x | 19.2x | 1.6x |
| Thu, 20 Apr 2023 | €884.8b | €531.0b | €49.9b | 17x | 17.7x | 1.7x |
| Sat, 18 Mar 2023 | €863.3b | €567.1b | €50.9b | 15.7x | 17x | 1.5x |
| Mon, 13 Feb 2023 | €902.0b | €543.1b | €50.2b | 15.1x | 18x | 1.7x |
| Wed, 11 Jan 2023 | €880.7b | €541.8b | €54.1b | 14.6x | 16.3x | 1.6x |
| Fri, 09 Dec 2022 | €858.7b | €544.2b | €54.5b | 14.6x | 15.8x | 1.6x |
| Sun, 06 Nov 2022 | €774.6b | €546.2b | €72.4b | 12.8x | 10.7x | 1.4x |
| Tue, 04 Oct 2022 | €745.9b | €512.8b | €73.8b | 12.5x | 10.1x | 1.5x |
| Thu, 01 Sep 2022 | €807.7b | €513.1b | €73.3b | 13.4x | 11x | 1.6x |
| Sat, 30 Jul 2022 | €888.3b | €523.2b | €76.0b | 16.1x | 11.7x | 1.7x |
Price to Earnings Ratio
11.7x
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 18.2x.
Past Earnings Growth
- The earnings for Dutch listed companies have declined 6.2% 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 | -1.32% | |
| Consumer Discretionary | 4.19% | |
| Real Estate | 3.26% | |
| Healthcare | 2.06% | |
| Financials | 1.51% | |
| Telecom | 0.95% | |
| Consumer Staples | 0.89% | |
| Materials | 0.091% | |
| Industrials | -0.27% | |
| Energy | -1.33% | |
| Tech | -7.95% | |
| Utilities | -12.50% | |
Sector PE
- Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 47.4x.
- 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| PRX Prosus | €49.95 | 4.4% +€4.6b | 51.0% | PE10.4x | Consumer Discretionary | |
| UMG Universal Music Group | €27.59 | 3.0% +€1.5b | -2.2% | PE24.3x | Telecom | |
| ADYEN Adyen | €1.55k | 2.4% +€1.1b | 39.8% | PE52.8x | Financials | |
| HEIA Heineken | €76.94 | 2.0% +€838.8m | -14.6% | PE44x | Consumer Staples | |
| CCEP Coca-Cola Europacific Partners | €83.40 | 1.8% +€667.2m | 23.0% | PE26.8x | Consumer Staples |
