Narrative Update • Aug 04
Have your own idea? Try our Stock Screener
Portuguese (PSI) Market Analysis & Valuation
UpdatedAug 13, 2026
DataAggregated Company Financials
Companies44
- 7D1.5%
- 3M2.3%
- 1Y19.7%
- YTD11.5%
The market has climbed 1.5% in the last 7 days, lead by the Utilities sector with a gain of 3.4%. As for the past 12 months, the market is up 20%. As for the next few years, earnings are expected to grow by 8.3% per annum.
Market Valuation and Performance
Has the Portuguese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 13 Aug 2026 | €96.9b | €111.5b | €5.6b | 18.7x | 17.3x | 0.9x |
| Sat, 11 Jul 2026 | €94.3b | €109.0b | €4.9b | 17.9x | 19.1x | 0.9x |
| Mon, 08 Jun 2026 | €93.3b | €109.0b | €4.9b | 17.5x | 18.9x | 0.9x |
| Wed, 06 May 2026 | €95.2b | €108.3b | €5.0b | 17.6x | 19.2x | 0.9x |
| Fri, 03 Apr 2026 | €97.8b | €107.7b | €5.4b | 16.2x | 18.2x | 0.9x |
| Sun, 01 Mar 2026 | €94.7b | €108.6b | €4.5b | 14.5x | 20.9x | 0.9x |
| Tue, 27 Jan 2026 | €88.2b | €108.5b | €4.0b | 13.4x | 22.1x | 0.8x |
| Thu, 25 Dec 2025 | €83.8b | €108.3b | €4.0b | 13.4x | 21.2x | 0.8x |
| Sat, 22 Nov 2025 | €83.5b | €108.3b | €3.9b | 13.1x | 21.3x | 0.8x |
| Mon, 20 Oct 2025 | €86.4b | €107.8b | €3.9b | 12.8x | 21.9x | 0.8x |
| Wed, 17 Sep 2025 | €80.2b | €107.8b | €4.0b | 12.3x | 19.8x | 0.7x |
| Fri, 15 Aug 2025 | €79.5b | €107.8b | €4.1b | 13x | 19.4x | 0.7x |
| Sun, 13 Jul 2025 | €80.0b | €107.0b | €4.4b | 11.9x | 18.1x | 0.7x |
| Tue, 10 Jun 2025 | €76.4b | €107.2b | €4.4b | 11.6x | 17.2x | 0.7x |
| Thu, 08 May 2025 | €71.7b | €105.9b | €4.4b | 12.1x | 16.4x | 0.7x |
| Sat, 05 Apr 2025 | €67.9b | €105.6b | €4.5b | 11.3x | 15.2x | 0.6x |
| Mon, 03 Mar 2025 | €70.7b | €105.3b | €4.7b | 11.9x | 15.2x | 0.7x |
| Wed, 29 Jan 2025 | €67.9b | €104.7b | €5.9b | 11.4x | 11.5x | 0.6x |
| Fri, 27 Dec 2024 | €69.4b | €104.8b | €5.9b | 11.9x | 11.8x | 0.7x |
| Sun, 24 Nov 2024 | €72.6b | €105.1b | €5.9b | 12.5x | 12.3x | 0.7x |
| Tue, 22 Oct 2024 | €77.1b | €105.0b | €6.4b | 12.6x | 12x | 0.7x |
| Thu, 19 Sep 2024 | €79.3b | €104.9b | €6.5b | 12.8x | 12.3x | 0.8x |
| Sat, 17 Aug 2024 | €78.0b | €104.7b | €6.4b | 12.2x | 12.1x | 0.7x |
| Mon, 15 Jul 2024 | €80.5b | €103.3b | €5.8b | 12.5x | 13.9x | 0.8x |
| Wed, 12 Jun 2024 | €79.0b | €103.2b | €5.8b | 12.6x | 13.6x | 0.8x |
| Fri, 10 May 2024 | €80.9b | €103.7b | €5.7b | 14.9x | 14.3x | 0.8x |
| Sun, 07 Apr 2024 | €72.4b | €102.5b | €5.8b | 10.4x | 12.5x | 0.7x |
| Tue, 05 Mar 2024 | €74.7b | €101.8b | €5.6b | 12.1x | 13.3x | 0.7x |
| Thu, 01 Feb 2024 | €78.5b | €103.1b | €5.8b | 11.9x | 13.6x | 0.8x |
| Sat, 30 Dec 2023 | €83.9b | €103.3b | €5.8b | 11x | 14.5x | 0.8x |
| Mon, 27 Nov 2023 | €79.5b | €103.2b | €5.8b | 11.5x | 13.7x | 0.8x |
| Wed, 25 Oct 2023 | €74.3b | €105.8b | €5.5b | 9.9x | 13.5x | 0.7x |
| Fri, 22 Sep 2023 | €78.5b | €105.8b | €5.5b | 10x | 14.2x | 0.7x |
| Sun, 20 Aug 2023 | €77.9b | €104.8b | €5.6b | 9.8x | 14x | 0.7x |
Price to Earnings Ratio
14x
Current Market PE
- Investors are relatively neutral on the Portuguese 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 16.0x.
Past Earnings Growth
- The earnings for Portuguese listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 2.1% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Sector Trends
Which sectors have driven the changes within the Portuguese Market?
| PT Market | 1.55% | |
| Healthcare | 6.00% | |
| Energy | 3.40% | |
| Utilities | 3.37% | |
| Industrials | 0.64% | |
| Materials | 0.45% | |
| Telecom | -0.02% | |
| Real Estate | -0.061% | |
| Financials | -0.14% | |
| Consumer Discretionary | -0.28% | |
| Tech | -0.84% | |
| Consumer Staples | -1.50% | |
Sector PE
- Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 11.9x.
- Analysts are expecting annual earnings growth of 2.1%, which is lower than the prior year's growth of 11.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 20% over the next 5 years.
- This is better than its past earnings decline of 2.4% per year.
- In contrast, the Energy sector is expected to see its earnings decline by 2.9% 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 | |
|---|---|---|---|---|---|---|
| EDPR EDP Renewables | €13.84 | 3.1% +€445.1m | 43.9% | PE41.2x | Utilities | |
| GALP Galp Energia SGPS | €20.46 | 2.7% +€406.9m | 27.2% | PE14.1x | Energy | |
| EDP EDP | €4.56 | 0.7% +€128.2m | 23.1% | PE16.1x | Utilities | |
| COR Corticeira Amorim S.G.P.S | €6.76 | 1.5% +€13.2m | -10.8% | PE20.3x | Materials | |
| CTT CTT - Correios De Portugal | €6.35 | 1.0% +€8.5m | -17.6% | PE20.1x | Industrials |
