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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedJan 29, 2026
DataAggregated Company Financials
Companies167
- 7D1.6%
- 3M16.8%
- 1Y27.6%
- YTD23.2%
The market has climbed 1.6% in the last 7 days, lead by the Information Technology sector with a gain of 9.1%. In the last year, the market has climbed 28%. Looking forward, earnings are forecast to grow by 32% 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 |
|---|---|---|---|---|---|---|
| Thu, 29 Jan 2026 | лв10.6b | лв8.7b | лв638.0m | 22.8x | 16.6x | 1.2x |
| Sat, 27 Dec 2025 | лв17.7b | лв17.2b | лв1.2b | 20.7x | 14.2x | 1x |
| Mon, 24 Nov 2025 | лв16.8b | лв16.9b | лв1.2b | 19.9x | 13.7x | 1x |
| Wed, 22 Oct 2025 | лв17.0b | лв17.0b | лв1.2b | 19x | 13.8x | 1x |
| Fri, 19 Sep 2025 | лв17.0b | лв16.8b | лв1.2b | 17.6x | 13.8x | 1x |
| Sun, 17 Aug 2025 | лв16.9b | лв16.5b | лв1.1b | 20.2x | 15.1x | 1x |
| Tue, 15 Jul 2025 | лв16.0b | лв16.4b | лв1.1b | 20.6x | 14.6x | 1x |
| Thu, 12 Jun 2025 | лв16.3b | лв16.4b | лв1.1b | 20.2x | 15x | 1x |
| Sat, 10 May 2025 | лв15.5b | лв15.8b | лв1.0b | 19x | 15.2x | 1x |
| Mon, 07 Apr 2025 | лв15.4b | лв16.3b | лв1.1b | 18.9x | 14.4x | 0.9x |
| Wed, 05 Mar 2025 | лв14.5b | лв13.4b | лв979.5m | 17.2x | 14.8x | 1.1x |
| Fri, 31 Jan 2025 | лв14.8b | лв12.6b | лв875.3m | 17x | 16.9x | 1.2x |
| Sun, 29 Dec 2024 | лв14.8b | лв12.5b | лв882.6m | 17.4x | 16.7x | 1.2x |
| Tue, 26 Nov 2024 | лв14.8b | лв12.2b | лв839.3m | 17.4x | 17.7x | 1.2x |
| Thu, 24 Oct 2024 | лв15.0b | лв12.1b | лв849.3m | 17.9x | 17.6x | 1.2x |
| Sat, 21 Sep 2024 | лв15.2b | лв12.1b | лв850.7m | 16.7x | 17.9x | 1.3x |
| Mon, 19 Aug 2024 | лв15.6b | лв14.7b | лв874.7m | 14.3x | 17.8x | 1.1x |
| Wed, 17 Jul 2024 | лв15.7b | лв12.1b | лв875.8m | 15.7x | 17.9x | 1.3x |
| Fri, 14 Jun 2024 | лв15.1b | лв12.3b | лв908.1m | 15x | 16.7x | 1.2x |
| Sun, 12 May 2024 | лв15.5b | лв16.6b | лв1.1b | 13x | 13.9x | 0.9x |
| Tue, 09 Apr 2024 | лв14.8b | лв16.7b | лв1.2b | 14.1x | 12.6x | 0.9x |
| Thu, 07 Mar 2024 | лв15.1b | лв16.6b | лв1.2b | 14.3x | 13.1x | 0.9x |
| Sat, 03 Feb 2024 | лв16.1b | лв17.8b | лв1.2b | 12.6x | 13.5x | 0.9x |
| Mon, 01 Jan 2024 | лв15.7b | лв17.7b | лв1.3b | 11.5x | 12.2x | 0.9x |
| Wed, 29 Nov 2023 | лв15.6b | лв19.0b | лв1.4b | 12.4x | 10.9x | 0.8x |
| Fri, 27 Oct 2023 | лв15.5b | лв18.8b | лв1.4b | 12.6x | 11.2x | 0.8x |
| Sun, 24 Sep 2023 | лв15.2b | лв18.8b | лв1.4b | 12.1x | 10.8x | 0.8x |
| Tue, 22 Aug 2023 | лв14.8b | лв15.9b | лв1.1b | 12.4x | 13.5x | 0.9x |
| Thu, 20 Jul 2023 | лв14.4b | лв19.2b | лв1.3b | 13.5x | 10.7x | 0.8x |
| Sat, 17 Jun 2023 | лв14.4b | лв21.0b | лв1.3b | 13.6x | 11.2x | 0.7x |
| Mon, 15 May 2023 | лв13.9b | лв20.3b | лв1.1b | 13.4x | 12.5x | 0.7x |
| Wed, 12 Apr 2023 | лв13.8b | лв20.4b | лв1.0b | 13.4x | 13.4x | 0.7x |
| Fri, 10 Mar 2023 | лв13.9b | лв20.4b | лв988.6m | 14.1x | 14x | 0.7x |
| Sun, 05 Feb 2023 | лв13.8b | лв20.3b | лв1.2b | 13.9x | 11.7x | 0.7x |
Price to Earnings Ratio
11.7x
Current Market PE
- Investors are optimistic on the Bulgarian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 16.6x which is higher than its 3-year average PE of 14.2x.
Past Earnings Growth
- The earnings for companies in the Bulgarian industry have declined 18% per year over the last three years.
- Revenues have also declined 25% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | 1.65% | |
| Tech | 9.15% | |
| Industrials | 3.28% | |
| Healthcare | 0.98% | |
| Utilities | 0.82% | |
| Real Estate | 0.33% | |
| Telecom | 0% | 0 |
| Consumer Staples | -0.66% | |
| Consumer Discretionary | -0.81% | |
| Financials | -0.94% | |
| Materials | -1.52% | |
| Energy | -14.14% | |
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 147x.
- 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 32% over the next 5 years.
- However this is lower than its past earnings growth rate of 118% per year.
- In contrast, the Tech sector is expected to see its earnings grow by 32% 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 | €70.20 | 10.4% +€119.8m | 100.6% | PE47.2x | Tech | |
| ATOM Atomenergoremont AD | €7.50 | 103.1% +€58.5m | n/a | PE11.1x | Industrials | |
| THQM Tchaikapharma High Quality Medicines AD | €9.35 | 3.9% +€33.6m | 6.1% | PE264.1x | Healthcare | |
| SPH Stara Planina Hold | €5.50 | 11.8% +€12.0m | 19.5% | PE30.3x | Industrials | |
| SFT Sopharma Trading AD | €3.36 | 9.8% +€10.1m | 15.3% | PE3.6x | Healthcare |
