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Portuguese (PSI) Market Analysis & Valuation

UpdatedJun 28, 2026
DataAggregated Company Financials
Companies44
  • 7D-0.2%
  • 3M-0.8%
  • 1Y19.4%
  • YTD8.2%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector declined by 3.2%. More promisingly, the market is up 19% over the past year. As for the next few years, earnings are expected to grow by 12% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Jun 2026€94.0b€109.0b€4.9b18.4x19.1x0.9x
Tue, 26 May 2026€95.8b€108.9b€4.9b17.8x19.4x0.9x
Thu, 23 Apr 2026€95.1b€108.1b€5.4b16.3x17.7x0.9x
Sat, 21 Mar 2026€90.7b€107.7b€5.4b15.1x16.8x0.8x
Mon, 16 Feb 2026€91.6b€108.5b€4.0b13.7x23x0.8x
Wed, 14 Jan 2026€88.0b€108.5b€4.0b13.5x22.1x0.8x
Fri, 12 Dec 2025€81.6b€108.3b€4.0b13.1x20.6x0.8x
Sun, 09 Nov 2025€84.8b€108.0b€3.9b13.1x21.8x0.8x
Tue, 07 Oct 2025€85.5b€107.7b€4.0b12.4x21.6x0.8x
Thu, 04 Sep 2025€79.3b€107.8b€4.0b11.9x19.6x0.7x
Sat, 02 Aug 2025€79.1b€106.8b€4.3b11.8x18.4x0.7x
Mon, 30 Jun 2025€77.8b€107.2b€4.4b11.3x17.5x0.7x
Wed, 28 May 2025€75.7b€107.1b€4.5b11.8x16.9x0.7x
Fri, 25 Apr 2025€70.6b€106.1b€4.4b11.9x15.9x0.7x
Sun, 23 Mar 2025€69.5b€105.5b€4.5b11.6x15.4x0.7x
Tue, 18 Feb 2025€68.5b€105.1b€5.6b11.8x12.3x0.7x
Thu, 16 Jan 2025€69.0b€103.7b€5.9b11.6x11.7x0.7x
Sat, 14 Dec 2024€70.1b€104.8b€5.9b11.9x11.9x0.7x
Mon, 11 Nov 2024€72.6b€104.6b€5.8b13x12.4x0.7x
Wed, 09 Oct 2024€78.0b€105.0b€6.4b12.7x12.1x0.7x
Fri, 06 Sep 2024€79.3b€104.9b€6.5b12.9x12.3x0.8x
Sun, 04 Aug 2024€78.1b€105.0b€6.2b12.5x12.7x0.7x
Tue, 02 Jul 2024€78.2b€103.2b€5.8b12.8x13.5x0.8x
Thu, 30 May 2024€80.5b€103.9b€5.7b13.6x14x0.8x
Sat, 27 Apr 2024€78.0b€102.5b€5.8b13.6x13.5x0.8x
Mon, 25 Mar 2024€73.4b€102.5b€5.7b11.7x12.8x0.7x
Wed, 21 Feb 2024€75.7b€101.9b€5.6b11.9x13.4x0.7x
Fri, 19 Jan 2024€79.4b€103.1b€5.8b11.9x13.8x0.8x
Sun, 17 Dec 2023€83.6b€103.3b€5.8b11x14.4x0.8x
Tue, 14 Nov 2023€79.0b€103.0b€5.9b10.4x13.5x0.8x
Thu, 12 Oct 2023€75.9b€105.8b€5.5b9.7x13.8x0.7x
Sat, 09 Sep 2023€79.3b€106.0b€5.6b9.3x14.2x0.7x
Mon, 07 Aug 2023€78.6b€104.5b€5.3b9.9x14.9x0.8x
Wed, 05 Jul 2023€80.8b€106.6b€6.3b9.3x12.8x0.8x
Price to Earnings Ratio

12.8x


Total Market Cap: €80.8bTotal Earnings: €6.3bTotal Revenue: €106.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Portuguese Market Price to Earnings3Y Average 15.8x202420252026
Current Market PE
  • Investors are optimistic on the Portuguese market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 19.1x which is higher than its 3-year average PE of 15.8x.
Past Earnings Growth
  • The earnings for Portuguese listed companies have declined 8.0% 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 Portuguese Market?

PT Market-0.18%
Industrials1.88%
Consumer Staples0.71%
Utilities0.70%
Healthcare0%0
Real Estate-0.18%
Telecom-0.43%
Energy-0.86%
Consumer Discretionary-1.16%
Financials-1.69%
Materials-2.62%
Tech-3.17%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 9.6x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings decline of 69% per year.
  • In contrast, the Telecom industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
EDP EDP€4.461.2%
+€227.4m		19.9%PE16.8xUtilities
SON Sonae SGPS€2.085.5%
+€212.0m		71.5%PE19.8xConsumer Staples
RENE REN - Redes Energéticas Nacionais SGPS€3.815.5%
+€132.7m		25.8%PE13.9xUtilities
EGL Mota-Engil SGPS€4.793.0%
+€42.9m		24.8%PE11xIndustrials
TDSA Teixeira Duarte€0.5511.1%
+€23.1m		78.6%PE4.6xIndustrials
See more

Market Insights

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Latest News

EGL
€4.79
Mota-Engil SGPS
7D
3.0%
1Y
24.8%
Narrative Update • Jun 26

EGL: Higher Dividend And Improved Margins Will Support Stronger Future Upside

Analysts have raised their fair value estimate for Mota-Engil SGPS from €3.50 to €5.70, citing updated assumptions for revenue growth, profit margins and a higher future P/E multiple as the main factors behind this change. What's in the News for Mota-Engil SGPS Mota-Engil SGPS announced an annual dividend of €0.1730 per share.
BCP
€1.02
Banco Comercial Português
7D
-1.7%
1Y
54.3%
Narrative Update • Jun 26

BCP: Share Buyback And Dividend Policy Will Frame Balanced Return Outlook

Analysts have modestly raised their fair value estimate for Banco Comercial Português to €1.04 from €0.88. This reflects updated assumptions on revenue growth, profitability and future P/E multiples, alongside recent Street research that has kept price targets around the €0.98 to €1.02 range with largely neutral views on the stock.
NOS
€5.19
NOS S.G.P.S
7D
-0.8%
1Y
35.7%
Narrative Update • Jun 26

NOS: Portugal Disruption Fears Will Likely Ease, Supporting Re-Rating

Analysts have lifted their price target on NOS S.G.P.S. to €6.50 from €3.60, citing a less severe impact from new entrant disruption in Portugal than previously anticipated and updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News for NOS S.G.P.S. No recent company specific news items for NOS S.G.P.S. were identified in the provided primary news source.
GALP
€18.36
Galp Energia SGPS
7D
-0.9%
1Y
16.9%
Narrative Update • Jun 26

GALP: Higher Price Assumptions Will Support A Fuller Future Earnings Multiple

Analysts have raised their fair value estimate for Galp Energia SGPS from about €19.61 to roughly €22.11, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E that are consistent with a series of recent price target increases from major research houses. Analyst Commentary Recent research coverage on Galp Energia SGPS has focused on recalibrating price targets, with several major houses adjusting their numbers in light of updated views on execution, growth and valuation assumptions.
SON
€2.08
Sonae SGPS
7D
5.5%
1Y
71.5%
Narrative Update • Jun 24

SON: Stable Fair Value And 2026 Dividend Will Support Measured Future Returns

Analysts have kept their price target for Sonae SGPS broadly stable around €1.90, reflecting only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions in their updated models. What's in the News Sonae SGPS announced an annual dividend of €0.0622 per share, scheduled to be paid on May 13, 2026.
NVG
€3.42
Navigator Company
7D
-1.7%
1Y
6.3%
Narrative Update • Jun 23

NVG: Stable Fair Value And Stronger Margins Will Support Repricing

Analysts have made a neutral update to Navigator Company’s price target, holding fair value at €4.08 while fine tuning inputs such as a slightly higher discount rate, a modestly lower revenue growth assumption, a marginally higher profit margin, and a small adjustment to the future P/E multiple to reflect current research views. What's in the News No recent company specific news or key developments for Navigator Company were identified in the referenced sources.
ALTR
€4.84
Altri SGPS
7D
-2.8%
1Y
-2.0%
Narrative Update • Jun 22

ALTR: Stable Dividend Outlook And Earnings Assumptions Will Guide Future Returns

Analysts have maintained their fair value target for Altri SGPS at €5.48. Only minor adjustments have been made to underlying assumptions such as the discount rate and future P/E, reflecting updated views on risk and earnings quality rather than changing the headline valuation.
EDPR
€13.56
EDP Renewables
7D
-0.8%
1Y
37.0%
Narrative Update • Jun 22

EDPR: U.S. Exposure And 2026 Stock Split Will Shape Balanced Outlook

The analyst price target for EDP Renewables has been raised to €14.36 from €14.22, as analysts factor in updated assumptions on discount rates, profit margins and long term P/E, alongside recent upgrades to the stock and higher Street targets in the €16 to €17.50 range. Analyst Commentary Analysts covering EDP Renewables are updating their views as fresh research highlights both upside potential and key execution risks for the stock.
JMT
€17.24
Jerónimo Martins SGPS
7D
-1.0%
1Y
-20.0%
Narrative Update • Jun 22

JMT: Incremental P/E Reset Will Support Upside As Margin Assumptions Hold

Jerónimo Martins SGPS has seen its analyst price target reduced slightly by around €0.35, as analysts fine-tune their fair value models on revenue growth, margins and future P/E assumptions in light of recent target cuts from major banks. Analyst Commentary Recent price target revisions for Jerónimo Martins SGPS give you a clearer view of how analysts are recalibrating expectations on valuation, growth and execution quality.
RENE
€3.81
REN - Redes Energéticas Nacionais SGPS
7D
5.5%
1Y
25.8%
Narrative Update • Jun 17

RENE: Underperform Downgrade And Lower Future P/E Will Sustain Overvaluation

Analysts have kept their fair value estimate for REN, Redes Energéticas Nacionais SGPS, steady at €2.70 while trimming longer term P/E expectations and modestly adjusting revenue growth and discount rate assumptions, with a recent downgrade to Underperform cited as part of the rationale for the updated price target view. What's in the News for REN: Redes Energéticas Nacionais SGPS No recent company specific news items for REN, Redes Energéticas Nacionais SGPS, are available from the provided primary sources.
EDP
€4.46
EDP
7D
1.2%
1Y
19.9%
Narrative Update • Jun 15

EDP: Renewables Storage And Data Center Demand Will Shape Balanced Future Outlook

EDP's analyst price target has been revised to €4.89 from €4.72, reflecting analysts' updated views on improved US operations and potential upside from Portugal's emerging data center demand. Analyst Commentary Recent research updates point to a more balanced view on EDP, with some analysts becoming less negative and others taking a more constructive stance as they reassess the company’s exposure to US operations and Portugal’s data center demand.
SEM
€21.10
Semapa - Sociedade de Investimento e Gestão SGPS
7D
-4.7%
1Y
24.7%
TDSA
€0.55
Teixeira Duarte
7D
11.1%
1Y
78.6%
MCP
€1.90
Grupo Média Capital SGPS
7D
2.2%
1Y
-5.0%
SLBEN
€7.06
Sport Lisboa e Benfica - Futebol SAD
7D
2.9%
1Y
41.5%
PHR
€0.079
Pharol SGPS
7D
8.8%
1Y
28.2%