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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedMar 24, 2026
DataAggregated Company Financials
Companies163
- 7D-1.0%
- 3M1.4%
- 1Y17.6%
- YTD12.9%
Over the last 7 days, the market has dropped 1.1%, driven by a decline of 8.9% in the Information Technology sector. Meanwhile, the Consumer Staples sector has outperformed, gaining 6.5% in that time. In contrast to the last week, the market is actually up 18% over the past year. 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 |
|---|---|---|---|---|---|---|
| Tue, 24 Mar 2026 | лв9.8b | лв9.3b | лв683.2m | 17.7x | 14.3x | 1.1x |
| Thu, 19 Feb 2026 | лв10.6b | лв8.7b | лв634.9m | 19.7x | 16.6x | 1.2x |
| Sat, 17 Jan 2026 | лв10.4b | лв9.0b | лв657.0m | 20.3x | 15.9x | 1.2x |
| Mon, 15 Dec 2025 | лв17.4b | лв17.2b | лв1.2b | 19.4x | 13.9x | 1x |
| Wed, 12 Nov 2025 | лв16.8b | лв16.9b | лв1.2b | 19.6x | 13.7x | 1x |
| Fri, 10 Oct 2025 | лв17.2b | лв17.0b | лв1.2b | 19x | 14.1x | 1x |
| Sun, 07 Sep 2025 | лв17.1b | лв16.8b | лв1.2b | 18.8x | 14.5x | 1x |
| Tue, 05 Aug 2025 | лв16.8b | лв16.5b | лв1.1b | 21.8x | 15x | 1x |
| Thu, 03 Jul 2025 | лв16.7b | лв16.4b | лв1.1b | 20.7x | 15.1x | 1x |
| Sat, 31 May 2025 | лв16.2b | лв15.9b | лв1.0b | 21.8x | 15.5x | 1x |
| Mon, 28 Apr 2025 | лв15.3b | лв16.3b | лв1.0b | 18.1x | 14.6x | 0.9x |
| Wed, 26 Mar 2025 | лв15.3b | лв16.3b | лв1.1b | 17.5x | 14.2x | 0.9x |
| Fri, 21 Feb 2025 | лв15.0b | лв12.6b | лв901.4m | 17.2x | 16.7x | 1.2x |
| Sun, 19 Jan 2025 | лв14.8b | лв12.5b | лв882.6m | 17.1x | 16.8x | 1.2x |
| Tue, 17 Dec 2024 | лв14.7b | лв12.5b | лв882.6m | 17x | 16.6x | 1.2x |
| Thu, 14 Nov 2024 | лв14.9b | лв12.2b | лв837.3m | 17.4x | 17.8x | 1.2x |
| Sat, 12 Oct 2024 | лв15.0b | лв12.1b | лв848.8m | 18.2x | 17.6x | 1.2x |
| Mon, 09 Sep 2024 | лв15.1b | лв12.1b | лв841.9m | 16.1x | 17.9x | 1.2x |
| Wed, 07 Aug 2024 | лв15.0b | лв12.0b | лв840.2m | 14x | 17.9x | 1.3x |
| Fri, 05 Jul 2024 | лв15.7b | лв12.1b | лв877.4m | 13.5x | 17.9x | 1.3x |
| Sun, 02 Jun 2024 | лв15.8b | лв16.6b | лв1.1b | 13.7x | 14.2x | 1x |
| Tue, 30 Apr 2024 | лв15.0b | лв16.4b | лв1.1b | 13.6x | 13x | 0.9x |
| Thu, 28 Mar 2024 | лв14.8b | лв16.8b | лв1.2b | 14x | 12.7x | 0.9x |
| Sat, 24 Feb 2024 | лв15.1b | лв16.1b | лв1.1b | 13.2x | 13.8x | 0.9x |
| Mon, 22 Jan 2024 | лв16.1b | лв17.9b | лв1.3b | 11.3x | 12.3x | 0.9x |
| Wed, 20 Dec 2023 | лв15.5b | лв17.7b | лв1.3b | 11.6x | 12.1x | 0.9x |
| Fri, 17 Nov 2023 | лв15.6b | лв19.0b | лв1.4b | 12.5x | 10.9x | 0.8x |
| Sun, 15 Oct 2023 | лв15.6b | лв18.8b | лв1.4b | 12.7x | 11.2x | 0.8x |
| Tue, 12 Sep 2023 | лв15.1b | лв18.7b | лв1.4b | 11.9x | 11.1x | 0.8x |
| Thu, 10 Aug 2023 | лв14.7b | лв16.0b | лв1.1b | 13x | 13.4x | 0.9x |
| Sat, 08 Jul 2023 | лв14.5b | лв19.1b | лв1.3b | 13.4x | 10.8x | 0.8x |
| Mon, 05 Jun 2023 | лв14.4b | лв20.6b | лв1.1b | 13.2x | 13.4x | 0.7x |
| Wed, 03 May 2023 | лв13.8b | лв20.4b | лв1.1b | 12.8x | 12.5x | 0.7x |
| Fri, 31 Mar 2023 | лв13.6b | лв20.3b | лв1.0b | 13.4x | 13.3x | 0.7x |
Price to Earnings Ratio
13.3x
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 14.4x.
Past Earnings Growth
- The earnings for companies in the Bulgarian industry have declined 12% per year over the last three years.
- Revenues have also declined 23% 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 | -0.95% | |
| Consumer Staples | 7.59% | |
| Healthcare | 0.97% | |
| Energy | 0% | 0 |
| Utilities | 0% | 0 |
| Telecom | -0.21% | |
| Financials | -0.42% | |
| Materials | -0.75% | |
| Industrials | -0.88% | |
| Real Estate | -1.23% | |
| Consumer Discretionary | -5.22% | |
| Tech | -6.47% | |
Sector PE
- Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 24.5x.
- 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.
- This is roughly in line with its past earnings growth rate.
- 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 | |
|---|---|---|---|---|---|---|
| GR6 Gradus AD | €0.55 | 34.1% +€32.3m | -8.1% | PE29.8x | Consumer Staples | |
| SPDY Speedy AD | €85.50 | 5.6% +€24.2m | -12.0% | PE16.8x | Industrials | |
| SFA Sopharma AD | €1.73 | 2.4% +€21.0m | 74.9% | PE13.2x | Healthcare | |
| BACB Bulgarian-American Credit Bank AD | €7.00 | 9.4% +€14.8m | 14.1% | PB0.8x | Financials | |
| EUBG Eurohold Bulgaria AD | €1.06 | 1.9% +€5.2m | 9.1% | PE5.6x | Financials |
