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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedMay 19, 2025
DataAggregated Company Financials
Companies168
- 7D0.8%
- 3M3.0%
- 1Y4.9%
- YTD1.7%
The Information Technology sector gained 11% while the market remained flat over the last week. More promisingly, the market is up 4.9% over the past year. Earnings are forecast to grow by 29% annually.
Market Valuation and Performance
Has the Bulgarian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 20 May 2025 | лв15.7b | лв15.8b | лв1.0b | 19.8x | 15.4x | 1x |
| Thu, 17 Apr 2025 | лв15.5b | лв16.3b | лв1.0b | 18.5x | 14.8x | 0.9x |
| Sat, 15 Mar 2025 | лв15.1b | лв16.3b | лв1.1b | 17.5x | 14x | 0.9x |
| Mon, 10 Feb 2025 | лв15.0b | лв12.6b | лв896.3m | 17.4x | 16.8x | 1.2x |
| Wed, 08 Jan 2025 | лв14.8b | лв12.5b | лв882.6m | 17x | 16.7x | 1.2x |
| Fri, 06 Dec 2024 | лв14.6b | лв12.5b | лв888.4m | 17x | 16.4x | 1.2x |
| Sun, 03 Nov 2024 | лв15.0b | лв12.1b | лв842.0m | 17.2x | 17.8x | 1.2x |
| Tue, 01 Oct 2024 | лв14.8b | лв12.1b | лв849.5m | 16.6x | 17.5x | 1.2x |
| Thu, 29 Aug 2024 | лв15.7b | лв14.6b | лв861.1m | 16x | 18.2x | 1.1x |
| Sat, 27 Jul 2024 | лв15.1b | лв12.0b | лв856.7m | 14.8x | 17.6x | 1.3x |
| Mon, 24 Jun 2024 | лв15.1b | лв12.3b | лв912.7m | 13.7x | 16.5x | 1.2x |
| Wed, 22 May 2024 | лв15.8b | лв16.6b | лв1.1b | 13.1x | 14.1x | 1x |
| Fri, 19 Apr 2024 | лв14.8b | лв16.4b | лв1.2b | 13x | 12.7x | 0.9x |
| Sun, 17 Mar 2024 | лв15.2b | лв16.8b | лв1.2b | 14.1x | 12.6x | 0.9x |
| Tue, 13 Feb 2024 | лв15.0b | лв16.1b | лв1.1b | 13.7x | 13.7x | 0.9x |
| Thu, 11 Jan 2024 | лв15.8b | лв17.8b | лв1.3b | 11.4x | 12.1x | 0.9x |
| Sat, 09 Dec 2023 | лв15.6b | лв18.4b | лв1.3b | 12x | 11.7x | 0.8x |
| Mon, 06 Nov 2023 | лв15.7b | лв18.8b | лв1.4b | 12.6x | 11.4x | 0.8x |
| Wed, 04 Oct 2023 | лв15.3b | лв18.8b | лв1.4b | 12.2x | 10.9x | 0.8x |
| Fri, 01 Sep 2023 | лв15.1b | лв18.7b | лв1.3b | 12.3x | 11.2x | 0.8x |
| Sun, 30 Jul 2023 | лв14.5b | лв19.2b | лв1.3b | 13.4x | 10.8x | 0.8x |
| Tue, 27 Jun 2023 | лв14.3b | лв19.3b | лв1.3b | 13.4x | 11.3x | 0.7x |
| Thu, 25 May 2023 | лв14.2b | лв20.4b | лв1.1b | 13.1x | 12.9x | 0.7x |
| Sat, 22 Apr 2023 | лв13.7b | лв20.4b | лв1.1b | 13.1x | 12.2x | 0.7x |
| Mon, 20 Mar 2023 | лв13.2b | лв20.3b | лв1.0b | 13.4x | 12.9x | 0.7x |
| Wed, 15 Feb 2023 | лв13.7b | лв20.3b | лв1.2b | 14.4x | 11.8x | 0.7x |
| Fri, 13 Jan 2023 | лв13.6b | лв20.2b | лв1.2b | 13.4x | 11.8x | 0.7x |
| Sun, 11 Dec 2022 | лв13.3b | лв20.3b | лв1.1b | 11.8x | 11.6x | 0.7x |
| Tue, 08 Nov 2022 | лв13.1b | лв18.7b | лв1.0b | 12.1x | 12.7x | 0.7x |
| Thu, 06 Oct 2022 | лв12.8b | лв18.5b | лв1.1b | 12.5x | 12x | 0.7x |
| Sat, 03 Sep 2022 | лв13.3b | лв18.1b | лв1.0b | 13.9x | 13x | 0.7x |
| Mon, 01 Aug 2022 | лв13.3b | лв16.9b | лв988.4m | 14.3x | 13.4x | 0.8x |
| Wed, 29 Jun 2022 | лв13.5b | лв17.1b | лв992.4m | 14.6x | 13.6x | 0.8x |
| Fri, 27 May 2022 | лв29.6b | лв15.8b | лв851.6m | 14.6x | 34.8x | 1.9x |
Price to Earnings Ratio
34.8x
Current Market PE
- Investors are relatively neutral on the Bulgarian 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 14.3x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 6.2% per year over the last three years, while revenues have remained steady.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | 0.79% | |
| Tech | 10.84% | |
| Energy | 7.43% | |
| Consumer Staples | 3.82% | |
| Healthcare | 0.42% | |
| Real Estate | 0.31% | |
| Utilities | 0% | 0 |
| Telecom | -0.097% | |
| Financials | -0.88% | |
| Consumer Discretionary | -1.07% | |
| Industrials | -1.54% | |
| Materials | -2.70% | |
Sector PE
- Investors favour the Telecom sector the most for future growth even though it's trading below its 3-year average PE ratio of 194x.
- 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 Tech sector, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings growth rate of 25% per year.
- In contrast, the Materials sector is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|---|
| SLYG Shelly Group | €43.50 | 14.8% +€101.4m | 18.1% | PE33.7x | Tech | |
| THQM Tchaikapharma High Quality Medicines AD | лв17.40 | 5.5% +лв82.6m | 0.6% | PE307.7x | Healthcare | |
| SFA Sopharma AD | лв6.50 | 1.9% +лв20.0m | 6.2% | PE13.9x | Healthcare | |
| T57 Trace Group Hold | лв6.75 | 7.1% +лв10.9m | 50.0% | PE8.6x | Industrials | |
| SO Smart Organic AD | лв32.00 | 2.6% +лв9.1m | 62.4% | PE23.7x | Consumer Staples |
