June 1, 2023
Snapshot Top 10: Belgian 20 Index BEL20



The Top 10 performing stocks in the Belgian 20 Index BEL20 are shown for seven different investment strategies. Whether you are looking for value, growth or dividend stocks, or you want stocks that rank well overall, you can see the top 10 stock picks, together with how they rank on a scale of 1 to 100 from the perspective of different investment strategies. We have also added our newest Sentiment and 360° View ranks, which encapsulate the market voices of analysts and professional investors into a simple ranking for easily evaluating stocks. As an objective research provider, Obermatt has been refining its stock analysis algorithms for more than 10 years (no AI used here!)

Select any stock for the detailed analysis of that stock's performance across the different investment analyses. Please note that the Top 10 stocks focus only on Large to XX-Large companies.


What the six ranks mean

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:

Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Special Analysis: TOP 10 Dividend Investment Strategy

Many people ask for tips about dividend stocks. These are the Top 10 dividend stocks in the Belgian 20 Index BEL20 as of June 1, 2023.

TOP 10 Dividend Investment Strategy Value Strategy DIVIDEND Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Proximus (XL, BE)  Integrated Telecommunication
1. Proximus (XL, BE)   Integrated Telecommunication 98 99 54 40
2. Aperam (XL, LU) ☀  Steel
2. Aperam (XL, LU) ☀   Steel 87 93 72 64
3. Ageas (XL, BE)  Multi-line Insurance
3. Ageas (XL, BE)   Multi-line Insurance 84 87 94 21
4. KBC (XL, BE)  Diversified Banks
4. KBC (XL, BE)   Diversified Banks 77 42 18 4
5. Solvay (XL, BE) ☀  Diversified Chemicals
5. Solvay (XL, BE) ☀   Diversified Chemicals 74 73 71 83
6. Barco (L, BE)  Electronic Equipment
6. Barco (L, BE)   Electronic Equipment 69 80 100 98
7. Etablissementen Franz Colruyt (XL, BE)  Food Retail
7. Etablissementen Franz Colruyt (XL, BE)   Food Retail 62 50 27 16
8. ING (XXL, NL)  Diversified Banks
8. ING (XXL, NL)   Diversified Banks 61 37 71 71
9. UCB (XL, BE)  Pharmaceuticals
9. UCB (XL, BE)   Pharmaceuticals 61 63 57 41
10. Umicore (XXL, BE) ☀  Specialty Chemicals
10. Umicore (XXL, BE) ☀   Specialty Chemicals 58 33 49 33

☀ This company has a special achievement which is documented on its stock research page.

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Obermatt 360° Investment Strategy

TOP 10 Obermatt 360° Investment Strategy 360° Strategy 360° VIEW Value Strategy VALUE Combined Strategy COMBINED Sentiment Strategy SENTIMENT
1. Barco (L, BE)   Electronic Equipment
1. Barco (L, BE)   Electronic Equipment 98 80 100 61
2. Solvay (XL, BE) ☀   Diversified Chemicals
2. Solvay (XL, BE) ☀   Diversified Chemicals 83 73 71 81
3. ING (XXL, NL)   Diversified Banks
3. ING (XXL, NL)   Diversified Banks 71 37 71 65
4. Aperam (XL, LU) ☀   Steel
4. Aperam (XL, LU) ☀   Steel 64 93 72 49
5. Telenet (XL, BE)   Cable & Satellite
5. Telenet (XL, BE)   Cable & Satellite 44 95 46 49
6. UCB (XL, BE)   Pharmaceuticals
6. UCB (XL, BE)   Pharmaceuticals 41 63 57 36
7. Proximus (XL, BE)   Integrated Telecommunication
7. Proximus (XL, BE)   Integrated Telecommunication 40 99 54 25
8. Umicore (XXL, BE) ☀   Specialty Chemicals
8. Umicore (XXL, BE) ☀   Specialty Chemicals 33 33 49 29

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Sentiment Investment Strategy

TOP 10 Sentiment Investment Strategy Sentiment Strategy SENTIMENT Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Solvay (XL, BE) ☀   Diversified Chemicals
1. Solvay (XL, BE) ☀   Diversified Chemicals 81 73 71 83
2. ING (XXL, NL)   Diversified Banks
2. ING (XXL, NL)   Diversified Banks 65 37 71 71
3. Ackermans & van Haaren (XL, BE)   Construction & Engineering
3. Ackermans & van Haaren (XL, BE)   Construction & Engineering 62 57 10 19
4. Barco (L, BE)   Electronic Equipment
4. Barco (L, BE)   Electronic Equipment 61 80 100 98
5. Telenet (XL, BE)   Cable & Satellite
5. Telenet (XL, BE)   Cable & Satellite 49 95 46 44
6. Aperam (XL, LU) ☀   Steel
6. Aperam (XL, LU) ☀   Steel 49 93 72 64
7. UCB (XL, BE)   Pharmaceuticals
7. UCB (XL, BE)   Pharmaceuticals 36 63 57 41
8. Anheuser-Busch InBev (XXL, BE) ☀   Brewers
8. Anheuser-Busch InBev (XXL, BE) ☀   Brewers 30 36 22 18
9. Umicore (XXL, BE) ☀   Specialty Chemicals
9. Umicore (XXL, BE) ☀   Specialty Chemicals 29 33 49 33

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Value Investment Strategy

TOP 10 Value Investment Strategy Value Strategy VALUE Growth Strategy GROWTH Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Proximus (XL, BE)   Integrated Telecommunication
1. Proximus (XL, BE)   Integrated Telecommunication 99 9 54 40
2. Telenet (XL, BE)   Cable & Satellite
2. Telenet (XL, BE)   Cable & Satellite 95 31 46 44
3. Aperam (XL, LU) ☀   Steel
3. Aperam (XL, LU) ☀   Steel 93 19 72 64
4. Ageas (XL, BE)   Multi-line Insurance
4. Ageas (XL, BE)   Multi-line Insurance 87 5 94 21
5. Barco (L, BE)   Electronic Equipment
5. Barco (L, BE)   Electronic Equipment 80 95 100 98
6. Solvay (XL, BE) ☀   Diversified Chemicals
6. Solvay (XL, BE) ☀   Diversified Chemicals 73 31 71 83
7. UCB (XL, BE)   Pharmaceuticals
7. UCB (XL, BE)   Pharmaceuticals 63 76 57 41
8. Ackermans & van Haaren (XL, BE)   Construction & Engineering
8. Ackermans & van Haaren (XL, BE)   Construction & Engineering 57 11 10 19
9. Etablissementen Franz Colruyt (XL, BE)   Food Retail
9. Etablissementen Franz Colruyt (XL, BE)   Food Retail 50 19 27 16
10. KBC (XL, BE)   Diversified Banks
10. KBC (XL, BE)   Diversified Banks 42 24 18 4

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Growth Investment Strategy

TOP 10 Growth Investment Strategy Growth Strategy GROWTH Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Barco (L, BE)   Electronic Equipment
1. Barco (L, BE)   Electronic Equipment 95 80 100 98
2. ING (XXL, NL)   Diversified Banks
2. ING (XXL, NL)   Diversified Banks 79 37 71 71
3. Umicore (XXL, BE) ☀   Specialty Chemicals
3. Umicore (XXL, BE) ☀   Specialty Chemicals 79 33 49 33
4. UCB (XL, BE)   Pharmaceuticals
4. UCB (XL, BE)   Pharmaceuticals 76 63 57 41
5. Anheuser-Busch InBev (XXL, BE) ☀   Brewers
5. Anheuser-Busch InBev (XXL, BE) ☀   Brewers 65 36 22 18
6. Telenet (XL, BE)   Cable & Satellite
6. Telenet (XL, BE)   Cable & Satellite 31 95 46 44
7. Solvay (XL, BE) ☀   Diversified Chemicals
7. Solvay (XL, BE) ☀   Diversified Chemicals 31 73 71 83

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Safety Investment Strategy

TOP 10 Safety Investment Strategy Safety Strategy SAFETY Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Barco (L, BE)  Electronic Equipment
1. Barco (L, BE)   Electronic Equipment 100 80 100 98
2. Ageas (XL, BE)  Multi-line Insurance
2. Ageas (XL, BE)   Multi-line Insurance 87 87 94 21
3. Aperam (XL, LU) ☀  Steel
3. Aperam (XL, LU) ☀   Steel 82 93 72 64
4. Etablissementen Franz Colruyt (XL, BE)  Food Retail
4. Etablissementen Franz Colruyt (XL, BE)   Food Retail 70 50 27 16
5. Solvay (XL, BE) ☀  Diversified Chemicals
5. Solvay (XL, BE) ☀   Diversified Chemicals 69 73 71 83
6. ING (XXL, NL)  Diversified Banks
6. ING (XXL, NL)   Diversified Banks 55 37 71 71
7. Proximus (XL, BE)  Integrated Telecommunication
7. Proximus (XL, BE)   Integrated Telecommunication 44 99 54 40
8. Umicore (XXL, BE) ☀  Specialty Chemicals
8. Umicore (XXL, BE) ☀   Specialty Chemicals 33 33 49 33
9. KBC (XL, BE)  Diversified Banks
9. KBC (XL, BE)   Diversified Banks 28 42 18 4

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


BEL20 Top 10: Combined Investment Strategy

TOP 10 Combined Investment Strategy Combined Strategy COMBINED Value Strategy VALUE Growth Strategy GROWTH 360° Strategy 360° VIEW
1. Barco (L, BE)  Electronic Equipment
1. Barco (L, BE)   Electronic Equipment 100 80 95 98
2. Ageas (XL, BE)  Multi-line Insurance
2. Ageas (XL, BE)   Multi-line Insurance 94 87 5 21
3. Aperam (XL, LU) ☀  Steel
3. Aperam (XL, LU) ☀   Steel 72 93 19 64
4. ING (XXL, NL)  Diversified Banks
4. ING (XXL, NL)   Diversified Banks 71 37 79 71
5. Solvay (XL, BE) ☀  Diversified Chemicals
5. Solvay (XL, BE) ☀   Diversified Chemicals 71 73 31 83
6. UCB (XL, BE)  Pharmaceuticals
6. UCB (XL, BE)   Pharmaceuticals 57 63 76 41
7. Proximus (XL, BE)  Integrated Telecommunication
7. Proximus (XL, BE)   Integrated Telecommunication 54 99 9 40
8. Umicore (XXL, BE) ☀  Specialty Chemicals
8. Umicore (XXL, BE) ☀   Specialty Chemicals 49 33 79 33
9. Telenet (XL, BE)  Cable & Satellite
9. Telenet (XL, BE)   Cable & Satellite 46 95 31 44
10. Etablissementen Franz Colruyt (XL, BE)  Food Retail
10. Etablissementen Franz Colruyt (XL, BE)   Food Retail 27 50 19 16

June 1, 2023. Top 10s are published weekly following the . ( or for more stocks)


☀ This company has a special achievement which is documented on its stock research page.

Top 10 lists may contain fewer than 10 stocks due to Obermatt’s top 10 quality standards.

Top 10 Stocks from the purely fact-based Obermatt Method in the stock index Belgian 20 Index BEL20 from June 1, 2023.

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