Cost of equity over the last 12 months

Banks Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Sep 2025 Oct 2025 Nov 2025 Dec 2025 Jan 2026 Feb 2026 Mar 2026 Cost of equity bandwidth Cost of equity average 12,7% 12,7% 12,8% 12,8% 13,0% 13,0% 12,7% 12,7% 12,8% 12,9% 12,7% 12,8%

Market multipliers in finance sector over the last 12 months

Banks Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 0x 3x 6x 9x 12x 15x 18x Price Book Price Earnings
Philippe Rasquin

Questions?

Philippe Rasquin

Senior Director
Brussels
Tel.: +32(0)477 61 92 06