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Bulgarian (SOFIX) Market Analysis & Valuation

UpdatedDec 11, 2025
DataAggregated Company Financials
Companies172
  • 7D1.3%
  • 3M1.3%
  • 1Y14.5%
  • YTD10.8%

The market is up 1.3% over the last week, with the Financials sector leading the way, up 4.4%. The market is up 15% over the last 12 months. Earnings are forecast to grow by 31% annually.

Market Valuation and Performance

Has the Bulgarian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 11 Dec 2025лв17.2bлв17.2bлв1.2b19.9x13.8x1x
Sat, 08 Nov 2025лв16.8bлв17.0bлв1.2b19.7x13.7x1x
Mon, 06 Oct 2025лв17.1bлв16.8bлв1.2b18.3x14x1x
Wed, 03 Sep 2025лв17.2bлв16.5bлв1.2b18.4x14.6x1x
Fri, 01 Aug 2025лв16.9bлв16.5bлв1.1b22x15.2x1x
Sun, 29 Jun 2025лв16.6bлв16.5bлв1.1b21.8x15.2x1x
Tue, 27 May 2025лв16.0bлв15.9bлв1.0b17.9x15.5x1x
Thu, 24 Apr 2025лв15.4bлв16.3bлв1.0b18.5x14.6x0.9x
Sat, 22 Mar 2025лв15.4bлв16.3bлв1.1b17.4x14.2x0.9x
Mon, 17 Feb 2025лв15.0bлв12.6bлв896.3m17.5x16.8x1.2x
Wed, 15 Jan 2025лв14.8bлв12.4bлв860.6m17.3x17.2x1.2x
Fri, 13 Dec 2024лв14.6bлв12.5bлв882.7m17x16.5x1.2x
Sun, 10 Nov 2024лв14.9bлв12.2bлв836.9m17.2x17.8x1.2x
Tue, 08 Oct 2024лв14.8bлв12.1bлв849.1m18x17.4x1.2x
Thu, 05 Sep 2024лв15.0bлв12.1bлв860.8m16.1x17.5x1.2x
Sat, 03 Aug 2024лв15.1bлв12.0bлв851.4m15.2x17.7x1.3x
Mon, 01 Jul 2024лв15.7bлв12.3bлв910.4m12.6x17.2x1.3x
Wed, 29 May 2024лв15.8bлв16.6bлв1.1b13.4x14.1x1x
Fri, 26 Apr 2024лв14.9bлв16.5bлв1.2b13.6x12.9x0.9x
Sun, 24 Mar 2024лв15.2bлв16.8bлв1.2b14.1x12.9x0.9x
Tue, 20 Feb 2024лв14.9bлв16.1bлв1.1b13.9x13.7x0.9x
Thu, 18 Jan 2024лв15.9bлв17.9bлв1.3b11.6x12.1x0.9x
Sat, 16 Dec 2023лв15.6bлв17.7bлв1.3b11.6x12.1x0.9x
Mon, 13 Nov 2023лв15.6bлв18.9bлв1.4b12.2x10.9x0.8x
Wed, 11 Oct 2023лв15.4bлв18.8bлв1.4b12.6x11x0.8x
Fri, 08 Sep 2023лв15.1bлв18.8bлв1.4b12.1x11x0.8x
Sun, 06 Aug 2023лв14.7bлв16.0bлв1.1b13x13.4x0.9x
Tue, 04 Jul 2023лв14.3bлв19.2bлв1.3b13.2x10.6x0.7x
Thu, 01 Jun 2023лв14.3bлв20.5bлв1.1b13.1x12.7x0.7x
Sat, 29 Apr 2023лв13.8bлв20.4bлв1.1b12.8x12.5x0.7x
Mon, 27 Mar 2023лв13.1bлв20.3bлв1.0b13.4x12.8x0.6x
Wed, 22 Feb 2023лв13.7bлв20.3bлв1.2b14.1x11.3x0.7x
Fri, 20 Jan 2023лв13.7bлв20.2bлв1.1b13.4x12.5x0.7x
Sun, 18 Dec 2022лв13.4bлв20.2bлв1.1b11.9x11.9x0.7x
Price to Earnings Ratio

11.9x


Total Market Cap: лв13.4bTotal Earnings: лв1.1bTotal Revenue: лв20.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Bulgarian Market Price to Earnings3Y Average 14.1x202320242025
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 14.1x.
Past Earnings Growth
  • The earnings for Bulgarian listed companies have grown 3.3% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.2% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.

Sector Trends

Which sectors have driven the changes within the Bulgarian Market?

BG Market1.34%
Energy24.09%
Financials4.41%
Tech1.88%
Healthcare1.11%
Real Estate0.47%
Telecom0%0
Utilities0%0
Industrials-0.079%
Materials-0.75%
Consumer Discretionary-1.53%
Consumer Staples-1.75%
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 157x.
    • 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 31% 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 31% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
FIB First Investment Bank ADлв5.6012.0%
+лв89.5m		48.9%PB0.4xFinancials
SCOM Sofia Commerce-Pawn Brokerage ADлв4.5058.8%
+лв44.7m		164.7%PE17.5xFinancials
SLYG Shelly Group€55.402.2%
+€21.8m		63.4%PE36.8xTech
SFA Sopharma ADлв2.812.9%
+лв41.5m		47.9%PE11.7xHealthcare
DUH Doverie United Holding ADлв11.5515.7%
+лв33.2m		44.7%PE1.8xFinancials
See more

Market Insights

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