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Romanian (BET) Market Analysis & Valuation

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies252
  • 7D4.4%
  • 3M16.2%
  • 1Y39.6%
  • YTD2.7%

Over the last 7 days, the market has risen 4.4%, driven by gains in the Energy and Utilities sectors of 5.3% and 4.6%, respectively. In the last year, the market has climbed 40%. As for the next few years, earnings are expected to grow by 8.4% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026RON 333.2bRON 167.3bRON 22.5b15.3x14.8x2x
Tue, 09 Dec 2025RON 311.0bRON 167.2bRON 22.5b14.9x13.8x1.9x
Thu, 06 Nov 2025RON 297.3bRON 166.1bRON 23.4b15.3x12.7x1.8x
Sat, 04 Oct 2025RON 286.8bRON 165.1bRON 23.3b15.5x12.3x1.7x
Mon, 01 Sep 2025RON 277.0bRON 163.7bRON 23.0b16.1x12.1x1.7x
Wed, 30 Jul 2025RON 270.9bRON 162.9bRON 23.3b15.8x11.6x1.7x
Fri, 27 Jun 2025RON 251.1bRON 162.6bRON 23.3b15x10.8x1.5x
Sun, 25 May 2025RON 239.4bRON 161.4bRON 23.2b15x10.3x1.5x
Tue, 22 Apr 2025RON 236.2bRON 160.9bRON 26.0b14.3x9.1x1.5x
Thu, 20 Mar 2025RON 238.2bRON 162.4bRON 26.9b15.8x8.8x1.5x
Sat, 15 Feb 2025RON 247.6bRON 160.8bRON 25.1b13.3x9.9x1.5x
Mon, 13 Jan 2025RON 240.2bRON 162.5bRON 26.2b13x9.2x1.5x
Wed, 11 Dec 2024RON 242.1bRON 161.9bRON 26.1b13.3x9.3x1.5x
Fri, 08 Nov 2024RON 243.0bRON 158.0bRON 24.0b14.2x10.1x1.5x
Sun, 06 Oct 2024RON 244.6bRON 158.3bRON 24.5b14.2x10x1.5x
Tue, 03 Sep 2024RON 251.8bRON 158.7bRON 24.4b12.3x10.3x1.6x
Thu, 01 Aug 2024RON 258.0bRON 159.5bRON 24.0b16.7x10.8x1.6x
Sat, 29 Jun 2024RON 254.3bRON 159.8bRON 23.9b16.6x10.6x1.6x
Mon, 27 May 2024RON 249.2bRON 160.1bRON 23.7b15.5x10.5x1.6x
Wed, 24 Apr 2024RON 235.1bRON 152.9bRON 23.5b13.9x10x1.5x
Fri, 22 Mar 2024RON 228.4bRON 149.3bRON 23.4b14x9.7x1.5x
Sun, 18 Feb 2024RON 214.7bRON 150.9bRON 23.9b11.3x9x1.4x
Tue, 16 Jan 2024RON 217.9bRON 156.3bRON 23.4b11.7x9.3x1.4x
Thu, 14 Dec 2023RON 209.6bRON 157.8bRON 23.8b11.1x8.8x1.3x
Sat, 11 Nov 2023RON 199.1bRON 161.6bRON 24.1b10.8x8.3x1.2x
Mon, 09 Oct 2023RON 196.0bRON 166.9bRON 26.9b10.2x7.3x1.2x
Wed, 06 Sep 2023RON 187.4bRON 167.0bRON 27.0b9.5x6.9x1.1x
Fri, 04 Aug 2023RON 195.7bRON 169.1bRON 28.8b9.6x6.8x1.2x
Sun, 02 Jul 2023RON 141.3bRON 164.8bRON 27.2b9.1x5.2x0.9x
Tue, 30 May 2023RON 140.9bRON 165.6bRON 27.2b9x5.2x0.9x
Thu, 27 Apr 2023RON 142.1bRON 166.7bRON 27.3b9.8x5.2x0.9x
Sat, 25 Mar 2023RON 135.9bRON 163.9bRON 26.6b9.1x5.1x0.8x
Mon, 20 Feb 2023RON 141.2bRON 160.7bRON 27.0b10.2x5.2x0.9x
Wed, 18 Jan 2023RON 135.4bRON 152.4bRON 27.3b9.8x5x0.9x
Price to Earnings Ratio

5x


Total Market Cap: RON 135.4bTotal Earnings: RON 27.3bTotal Revenue: RON 152.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Romanian Market Price to Earnings3Y Average 9.1x202420252026
Current Market PE
  • Investors are optimistic on the Romanian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 14.8x which is higher than its 3-year average PE of 9.1x.
Past Earnings Growth
  • The earnings for Romanian listed companies have declined 6.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.2% 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, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Romanian Market?

RO Market4.41%
Telecom8.25%
Healthcare6.66%
Energy5.29%
Utilities4.62%
Financials3.32%
Tech3.02%
Consumer Staples2.30%
Real Estate1.21%
Consumer Discretionary0.68%
Industrials0.42%
Materials-0.22%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 232x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 30.7% which is higher than its past year's earnings decline of 27.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 102% over the next 5 years.
  • This is better than its past earnings growth rate of 38% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 4.1% 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
SNG SNGN RomgazRON 10.868.7%
+RON 3.4b		101.9%PE12.4xEnergy
SNP OMV PetromRON 1.033.5%
+RON 2.2b		41.5%PE17.4xEnergy
TLV Banca TransilvaniaRON 32.106.3%
+RON 2.1b		38.8%PB1.9xFinancials
SNN S.N. NuclearelectricaRON 61.7012.4%
+RON 2.1b		51.4%PE9.3xUtilities
TGN S.N.T.G.N. TransgazRON 71.208.0%
+RON 998.4m		194.2%PE14.6xUtilities
See more

Market Insights

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Latest News

TLV
RON 32.10
Banca Transilvania
7D
6.3%
1Y
38.8%

TLV: Discount Rate And Margin Assumptions Will Steady Fairly Valued Outlook

Analysts have revised their price expectations for Banca Transilvania to reflect a slightly lower discount rate, a modest adjustment in the assumed profit margin and a small change in the future P/E multiple, resulting in an updated target centered on a fair value of 31.478. Valuation Changes Fair Value: The updated fair value remains unchanged at RON 31.478 per share.
BBGA
RON 1.70
Alum
7D
-8.1%
1Y
n/a
PREB
RON 1.86
S.C. Prebet Aiud
7D
-10.1%
1Y
-10.6%
CMVX
RON 56.80
Comvex
7D
-3.4%
1Y
-31.6%
SNP
RON 1.03
OMV Petrom
7D
3.5%
1Y
41.5%

SNP: Unchanged Forecasts Will Likely Keep Shares Overvalued Ahead

Analysts kept their fair value and key assumptions for OMV Petrom unchanged, so the latest price target remains steady with no currency shift. This reflects their view that the existing discount rate, revenue growth outlook and future P/E still capture the company’s risk and earnings profile appropriately.
SNG
RON 10.86
SNGN Romgaz
7D
8.7%
1Y
101.9%

SNG: Boardroom Turnover And Contract Changes Will Likely Pressure Future Shares

Analysts have updated their view on SNGN Romgaz, setting a price target that reflects slightly lower revenue growth assumptions at 21.67%, a higher profit margin at 35.98%, and a modestly reduced future P/E of 8.30, while keeping fair value unchanged. What's in the News A special shareholders meeting is set for November 11, 2025 in Bucharest to vote on revoking current interim board members and electing a new board through a secret ballot (Key Developments).
BRD
RON 26.50
BRD - Groupe Société Générale
7D
-1.5%
1Y
42.5%
M
RON 11.20
Med Life
7D
8.9%
1Y
91.8%

We Think Med Life (BVB:M) Is Taking Some Risk With Its Debt

Jan 06
We Think Med Life (BVB:M) Is Taking Some Risk With Its Debt
SNN
RON 61.70
S.N. Nuclearelectrica
7D
12.4%
1Y
51.4%

SNN: Future Earnings Weakness Will Challenge High P/E And Compressed Margins

Analysts have lifted their price target for S.N. Nuclearelectrica, highlighting an unchanged fair value of 45.55, a steady discount rate of 12.428%, and consistent assumptions for revenue trends, profit margin, and future P/E as the basis for their updated view. Analyst Commentary Bullish Takeaways Bullish analysts see the reaffirmed fair value of 45.55 and steady discount rate of 12.428% as a sign that their valuation framework for S.N. Nuclearelectrica remains intact, even as price targets are adjusted.
SIDG
RON 0.29
S.C. ArcelorMittal Hunedoara
7D
-36.1%
1Y
n/a

S.C. ArcelorMittal Hunedoara S.A. (BVB:SIDG) May Have Run Too Fast Too Soon With Recent 28% Price Plummet

Dec 28
S.C. ArcelorMittal Hunedoara S.A. (BVB:SIDG) May Have Run Too Fast Too Soon With Recent 28% Price Plummet
FACY
RON 10.20
Fabrica de Scule Rasnov
7D
-12.1%
1Y
-5.6%
TGN
RON 71.20
S.N.T.G.N. Transgaz
7D
8.0%
1Y
194.2%

Returns Are Gaining Momentum At S.N.T.G.N. Transgaz (BVB:TGN)

Dec 14
Returns Are Gaining Momentum At S.N.T.G.N. Transgaz (BVB:TGN)
EL
RON 28.85
Societatea Energetica Electrica
7D
9.5%
1Y
113.7%
RRC
RON 0.07
Rompetrol Rafinare
7D
-2.2%
1Y
1.3%
IORB
RON 0.20
S.C. IOR
7D
-10.6%
1Y
n/a
DIGI
RON 119.40
Digi Communications
7D
8.3%
1Y
78.2%