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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedApr 27, 2024
DataAggregated Company Financials
Companies165
- 7D0.2%
- 3M2.9%
- 1Y17.0%
- YTD5.8%
Over the last 7 days, the market has remained flat, although notably the Consumer Discretionary sector gained 4.1% in that time. As for the longer term, the market has risen 17% in the past 12 months. As for the next few years, earnings are expected to grow by 29% per annum.
Market Valuation and Performance
Has the Bulgarian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 27 Apr 2024 | лв15.0b | лв16.5b | лв1.1b | 13.6x | 13x | 0.9x |
| Mon, 25 Mar 2024 | лв15.2b | лв16.8b | лв1.2b | 14.1x | 12.9x | 0.9x |
| Wed, 21 Feb 2024 | лв14.9b | лв16.1b | лв1.1b | 13.7x | 13.6x | 0.9x |
| Fri, 19 Jan 2024 | лв16.0b | лв17.9b | лв1.3b | 11.4x | 12.2x | 0.9x |
| Sun, 17 Dec 2023 | лв15.6b | лв17.7b | лв1.3b | 11.6x | 12.1x | 0.9x |
| Tue, 14 Nov 2023 | лв15.6b | лв19.0b | лв1.4b | 12.1x | 10.8x | 0.8x |
| Thu, 12 Oct 2023 | лв15.6b | лв18.8b | лв1.4b | 12.7x | 11.2x | 0.8x |
| Sat, 09 Sep 2023 | лв15.1b | лв18.8b | лв1.4b | 12.1x | 11x | 0.8x |
| Mon, 07 Aug 2023 | лв14.7b | лв16.0b | лв1.1b | 13x | 13.4x | 0.9x |
| Wed, 05 Jul 2023 | лв14.4b | лв19.2b | лв1.3b | 13.2x | 10.7x | 0.8x |
| Fri, 02 Jun 2023 | лв14.3b | лв20.6b | лв1.1b | 13.1x | 12.7x | 0.7x |
| Sun, 30 Apr 2023 | лв13.8b | лв20.4b | лв1.1b | 12.8x | 12.5x | 0.7x |
| Tue, 28 Mar 2023 | лв13.6b | лв20.4b | лв1.0b | 13.5x | 13.1x | 0.7x |
| Thu, 23 Feb 2023 | лв13.7b | лв20.3b | лв1.2b | 14.1x | 11.3x | 0.7x |
| Sat, 21 Jan 2023 | лв13.7b | лв20.2b | лв1.1b | 13.4x | 12.5x | 0.7x |
| Mon, 19 Dec 2022 | лв13.4b | лв20.2b | лв1.1b | 11.9x | 11.8x | 0.7x |
| Wed, 16 Nov 2022 | лв13.0b | лв18.6b | лв1.0b | 12.3x | 12.8x | 0.7x |
| Fri, 14 Oct 2022 | лв12.8b | лв18.5b | лв1.1b | 12.9x | 12x | 0.7x |
| Sun, 11 Sep 2022 | лв13.3b | лв18.3b | лв1.0b | 13.9x | 12.8x | 0.7x |
| Tue, 09 Aug 2022 | лв13.4b | лв16.9b | лв979.9m | 14.2x | 13.6x | 0.8x |
| Thu, 07 Jul 2022 | лв13.5b | лв16.9b | лв984.7m | 14.4x | 13.7x | 0.8x |
| Sat, 04 Jun 2022 | лв29.7b | лв17.2b | лв925.1m | 14.3x | 32.1x | 1.7x |
| Mon, 02 May 2022 | лв29.7b | лв15.6b | лв818.4m | 14.5x | 36.3x | 1.9x |
| Wed, 30 Mar 2022 | лв29.4b | лв15.2b | лв859.9m | 14.2x | 34.2x | 1.9x |
| Fri, 25 Feb 2022 | лв28.9b | лв13.2b | лв639.7m | 16.3x | 45.2x | 2.2x |
| Sun, 23 Jan 2022 | лв29.5b | лв12.9b | лв579.5m | 16.9x | 50.9x | 2.3x |
| Tue, 21 Dec 2021 | лв29.4b | лв12.9b | лв572.7m | 17.7x | 51.3x | 2.3x |
| Thu, 18 Nov 2021 | лв29.4b | лв12.0b | лв490.4m | 17.3x | 60x | 2.4x |
| Sat, 16 Oct 2021 | лв28.9b | лв11.8b | лв484.8m | 17.9x | 59.7x | 2.5x |
| Mon, 13 Sep 2021 | лв28.6b | лв11.8b | лв475.0m | 16.4x | 60.2x | 2.4x |
| Wed, 11 Aug 2021 | лв28.4b | лв11.8b | лв483.2m | 16.3x | 58.8x | 2.4x |
| Sun, 06 Jun 2021 | лв27.8b | лв11.3b | лв452.7m | 18.4x | 61.3x | 2.5x |
Price to Earnings Ratio
62.2x
Current Market PE
- Investors are pessimistic on the Bulgarian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 13.0x which is lower than its 3-year average PE of 27.1x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 36% per year over the last three years.
- Revenues for these companies have grown 13% 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 | 0.24% | |
| Consumer Discretionary | 4.11% | |
| Financials | 3.95% | |
| Materials | 0.65% | |
| Utilities | 0.093% | |
| Consumer Staples | -0.0063% | |
| Healthcare | -0.20% | |
| Real Estate | -0.26% | |
| Tech | -0.31% | |
| Telecom | -0.43% | |
| Industrials | -2.37% | |
| Energy | -9.68% | |
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 260x.
- 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.
- However this is lower than its past earnings growth rate of 38% per year.
- In contrast, the Tech sector is expected to see its earnings grow by 29% 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 | |
|---|---|---|---|---|---|---|
| FIB First Investment Bank AD | лв3.08 | 20.3% +лв77.5m | 46.7% | PB0.3x | Financials | |
| MSH M+S Hydraulic AD | лв11.90 | 10.2% +лв43.4m | 25.3% | PE13.2x | Industrials | |
| KAU Kauchuk AD | лв70.00 | 29.6% +лв15.1m | 169.2% | n/a | Consumer Discretionary | |
| EUBG Eurohold Bulgaria AD | лв1.35 | 3.1% +лв10.4m | 1.5% | PE1.7x | Financials | |
| BACB Bulgarian-American Credit Bank AD | лв11.70 | 3.5% +лв9.9m | 101.7% | PB0.9x | Financials |
