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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedMar 08, 2026
DataAggregated Company Financials
Companies165
- 7D-1.3%
- 3M10.9%
- 1Y26.9%
- YTD16.9%
Over the last 7 days, the market has dropped 1.3%, driven by pullbacks in the Healthcare and Financials sectors of 2.4% and 1.9%, respectively. In the last year, the market is actually up 27%. As for the next few years, earnings are expected to grow by 32% 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 |
|---|---|---|---|---|---|---|
| Sun, 08 Mar 2026 | лв10.1b | лв9.1b | лв656.0m | 19.4x | 15.4x | 1.1x |
| Tue, 03 Feb 2026 | лв10.5b | лв8.8b | лв649.4m | 19.7x | 16.2x | 1.2x |
| Thu, 01 Jan 2026 | лв17.7b | лв17.2b | лв1.2b | 20.7x | 14.2x | 1x |
| Sat, 29 Nov 2025 | лв17.0b | лв16.9b | лв1.2b | 19.9x | 13.8x | 1x |
| Mon, 27 Oct 2025 | лв16.9b | лв17.0b | лв1.2b | 18.8x | 13.7x | 1x |
| Wed, 24 Sep 2025 | лв17.1b | лв16.8b | лв1.2b | 17.4x | 13.9x | 1x |
| Fri, 22 Aug 2025 | лв16.9b | лв16.5b | лв1.1b | 20x | 15x | 1x |
| Sun, 20 Jul 2025 | лв16.8b | лв16.4b | лв1.1b | 20.4x | 15.2x | 1x |
| Tue, 17 Jun 2025 | лв16.3b | лв16.5b | лв1.1b | 21.8x | 14.8x | 1x |
| Thu, 15 May 2025 | лв15.6b | лв15.8b | лв1.0b | 19.4x | 15.3x | 1x |
| Sat, 12 Apr 2025 | лв15.4b | лв16.3b | лв1.0b | 18.8x | 14.7x | 0.9x |
| Mon, 10 Mar 2025 | лв14.9b | лв16.3b | лв1.1b | 17.3x | 13.8x | 0.9x |
| Wed, 05 Feb 2025 | лв14.9b | лв12.6b | лв877.0m | 17.4x | 17x | 1.2x |
| Fri, 03 Jan 2025 | лв14.8b | лв12.5b | лв882.6m | 17.4x | 16.8x | 1.2x |
| Sun, 01 Dec 2024 | лв14.5b | лв12.3b | лв857.5m | 17.6x | 16.9x | 1.2x |
| Tue, 29 Oct 2024 | лв14.9b | лв12.1b | лв830.0m | 17.5x | 17.9x | 1.2x |
| Thu, 26 Sep 2024 | лв14.8b | лв12.1b | лв849.6m | 17.1x | 17.5x | 1.2x |
| Sat, 24 Aug 2024 | лв15.6b | лв14.6b | лв871.1m | 15.7x | 17.9x | 1.1x |
| Mon, 22 Jul 2024 | лв15.1b | лв12.0b | лв857.8m | 15.3x | 17.6x | 1.3x |
| Wed, 19 Jun 2024 | лв15.0b | лв12.3b | лв909.4m | 13.8x | 16.4x | 1.2x |
| Fri, 17 May 2024 | лв15.7b | лв16.6b | лв1.1b | 13x | 14.1x | 0.9x |
| Sun, 14 Apr 2024 | лв14.8b | лв16.7b | лв1.2b | 13.6x | 12.7x | 0.9x |
| Tue, 12 Mar 2024 | лв15.2b | лв16.8b | лв1.2b | 14.1x | 12.8x | 0.9x |
| Thu, 08 Feb 2024 | лв14.9b | лв16.1b | лв1.1b | 13.7x | 13.7x | 0.9x |
| Sat, 06 Jan 2024 | лв15.7b | лв17.8b | лв1.3b | 11.5x | 12.1x | 0.9x |
| Mon, 04 Dec 2023 | лв15.6b | лв18.1b | лв1.3b | 11.9x | 12x | 0.9x |
| Wed, 01 Nov 2023 | лв15.6b | лв18.8b | лв1.4b | 12.9x | 11.2x | 0.8x |
| Fri, 29 Sep 2023 | лв15.3b | лв18.8b | лв1.4b | 12.6x | 10.9x | 0.8x |
| Sun, 27 Aug 2023 | лв14.9b | лв15.9b | лв1.1b | 12.1x | 13.6x | 0.9x |
| Tue, 25 Jul 2023 | лв14.5b | лв19.2b | лв1.3b | 13.5x | 10.8x | 0.8x |
| Thu, 22 Jun 2023 | лв14.3b | лв19.2b | лв1.3b | 13.5x | 11.2x | 0.7x |
| Sat, 20 May 2023 | лв14.0b | лв20.3b | лв1.1b | 13.1x | 12.5x | 0.7x |
| Mon, 17 Apr 2023 | лв13.8b | лв20.4b | лв1.1b | 12.8x | 12.3x | 0.7x |
| Wed, 15 Mar 2023 | лв13.8b | лв20.4b | 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 14% 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 | -1.29% | |
| Energy | 3.13% | |
| Industrials | 0.63% | |
| Real Estate | 0.29% | |
| Utilities | 0% | 0 |
| Materials | -0.88% | |
| Telecom | -1.02% | |
| Financials | -1.88% | |
| Consumer Discretionary | -1.90% | |
| Tech | -2.24% | |
| Healthcare | -2.36% | |
| Consumer Staples | -3.30% | |
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 140x.
- 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 191% 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 | |
|---|---|---|---|---|---|---|
| ATOM Atomenergoremont AD | €9.00 | 25.0% +€27.6m | 21.4% | PE6.5x | Industrials | |
| MSH M+S Hydraulic AD | €5.25 | 2.9% +€5.9m | 7.0% | PE41.9x | Industrials | |
| SYN Synthetica AD | €46.00 | 4.1% +€5.4m | 28.6% | PE113.4x | Healthcare | |
| GR6 Gradus AD | €0.46 | 4.5% +€4.6m | -15.1% | PE25.1x | Consumer Staples | |
| CHIM Chimimport AD | €0.45 | 3.7% +€3.6m | 18.0% | PE1.8x | Industrials |
