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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedApr 13, 2025
DataAggregated Company Financials
Companies174
- 7D-0.5%
- 3M-1.9%
- 1Y6.3%
- YTD-1.8%
Over the last 7 days, the market has remained flat, although notably the Energy sector gained 5.1% in that time. Meanwhile, the market is actually up 6.3% over the past year. Earnings are forecast to grow by 28% 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 |
|---|---|---|---|---|---|---|
| Sun, 13 Apr 2025 | лв15.4b | лв16.3b | лв1.0b | 18.5x | 14.7x | 0.9x |
| Tue, 11 Mar 2025 | лв14.9b | лв16.2b | лв1.1b | 17.3x | 13.8x | 0.9x |
| Thu, 06 Feb 2025 | лв15.0b | лв12.6b | лв876.0m | 17.4x | 17.1x | 1.2x |
| Sat, 04 Jan 2025 | лв14.8b | лв12.5b | лв882.6m | 17.4x | 16.8x | 1.2x |
| Mon, 02 Dec 2024 | лв14.5b | лв12.6b | лв868.7m | 17.6x | 16.7x | 1.2x |
| Wed, 30 Oct 2024 | лв14.8b | лв12.1b | лв841.6m | 17.2x | 17.6x | 1.2x |
| Fri, 27 Sep 2024 | лв14.8b | лв12.1b | лв849.5m | 17.1x | 17.4x | 1.2x |
| Sun, 25 Aug 2024 | лв15.6b | лв14.6b | лв869.8m | 15.7x | 18x | 1.1x |
| Tue, 23 Jul 2024 | лв15.0b | лв12.0b | лв857.8m | 15x | 17.5x | 1.3x |
| Thu, 20 Jun 2024 | лв15.0b | лв12.3b | лв909.7m | 12.9x | 16.5x | 1.2x |
| Sat, 18 May 2024 | лв15.7b | лв16.6b | лв1.1b | 13x | 14.1x | 0.9x |
| Mon, 15 Apr 2024 | лв14.8b | лв16.4b | лв1.2b | 13.2x | 12.6x | 0.9x |
| Wed, 13 Mar 2024 | лв15.1b | лв16.8b | лв1.2b | 14.5x | 12.7x | 0.9x |
| Fri, 09 Feb 2024 | лв15.0b | лв16.1b | лв1.1b | 13.8x | 13.7x | 0.9x |
| Sun, 07 Jan 2024 | лв15.7b | лв17.8b | лв1.3b | 11.2x | 12x | 0.9x |
| Tue, 05 Dec 2023 | лв15.6b | лв18.1b | лв1.3b | 12x | 12x | 0.9x |
| Thu, 02 Nov 2023 | лв15.6b | лв18.8b | лв1.4b | 12.9x | 11.2x | 0.8x |
| Sat, 30 Sep 2023 | лв15.3b | лв18.8b | лв1.4b | 12.1x | 10.9x | 0.8x |
| Mon, 28 Aug 2023 | лв14.9b | лв15.9b | лв1.1b | 12.1x | 13.6x | 0.9x |
| Wed, 26 Jul 2023 | лв14.4b | лв19.2b | лв1.3b | 13.3x | 10.7x | 0.8x |
| Fri, 23 Jun 2023 | лв14.3b | лв19.2b | лв1.3b | 13.4x | 11.2x | 0.7x |
| Sun, 21 May 2023 | лв14.0b | лв20.3b | лв1.1b | 13.1x | 12.5x | 0.7x |
| Tue, 18 Apr 2023 | лв13.8b | лв20.4b | лв1.1b | 12.8x | 12.3x | 0.7x |
| Thu, 16 Mar 2023 | лв13.8b | лв20.4b | лв1.0b | 13.4x | 13.3x | 0.7x |
| Sat, 11 Feb 2023 | лв13.8b | лв20.3b | лв1.2b | 14.3x | 11.3x | 0.7x |
| Mon, 09 Jan 2023 | лв13.6b | лв20.2b | лв1.2b | 13.4x | 11.8x | 0.7x |
| Wed, 07 Dec 2022 | лв13.4b | лв20.3b | лв1.2b | 11.8x | 11.6x | 0.7x |
| Fri, 04 Nov 2022 | лв13.0b | лв18.5b | лв1.1b | 12.2x | 12.2x | 0.7x |
| Sun, 02 Oct 2022 | лв12.9b | лв18.5b | лв1.1b | 12.7x | 12.1x | 0.7x |
| Tue, 30 Aug 2022 | лв13.4b | лв17.0b | лв984.4m | 13.9x | 13.6x | 0.8x |
| Thu, 28 Jul 2022 | лв13.3b | лв16.9b | лв984.5m | 14.2x | 13.5x | 0.8x |
| Sat, 25 Jun 2022 | лв13.5b | лв17.1b | лв987.9m | 14.6x | 13.7x | 0.8x |
| Mon, 23 May 2022 | лв29.7b | лв15.8b | лв854.0m | 14.8x | 34.8x | 1.9x |
| Wed, 20 Apr 2022 | лв29.6b | лв15.1b | лв865.4m | 14.3x | 34.2x | 2x |
Price to Earnings Ratio
34.2x
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 15.0x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 6.5% per year over the last three years.
- Revenues for these companies have grown 2.5% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | -0.48% | |
| Energy | 5.08% | |
| Tech | 1.08% | |
| Consumer Discretionary | 0.44% | |
| Financials | 0.031% | |
| Utilities | 0% | 0 |
| Telecom | -0.024% | |
| Consumer Staples | -0.20% | |
| Materials | -0.51% | |
| Real Estate | -0.64% | |
| Healthcare | -0.74% | |
| Industrials | -1.73% | |
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 199x.
- 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 29% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- 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 | €34.30 | 1.2% +€7.2m | 0.1% | PE27.6x | Tech | |
| ODES Odessos Shiprepair Yard | лв342.00 | 6.9% +лв12.9m | n/a | PE20.9x | Industrials | |
| FIB First Investment Bank AD | лв3.94 | 2.1% +лв11.9m | 56.3% | PB0.3x | Financials | |
| CHL Chernomorski Holding AD | лв20.80 | 14.9% +лв8.9m | 38.7% | PE42x | Financials | |
| EUBG Eurohold Bulgaria AD | лв1.91 | 1.6% +лв7.8m | 39.4% | PE13.6x | Financials |
