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Bulgarian (SOFIX) Market Analysis & Valuation

UpdatedMay 22, 2022
DataAggregated Company Financials
Companies162
  • 7D0.7%
  • 3M3.3%
  • 1Y4.3%
  • YTD-0.2%

The Energy sector gained 16% while the market remained flat over the last week. Meanwhile, the market is actually up 4.3% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPE
Mon, 23 May 2022лв29.7bлв15.8bлв853.8m14.8x
Wed, 20 Apr 2022лв29.6bлв15.1bлв865.4m14.3x
Fri, 18 Mar 2022лв29.0bлв15.2bлв864.3m15.1x
Sun, 13 Feb 2022лв29.6bлв13.2bлв598.6m15.7x
Tue, 11 Jan 2022лв29.6bлв12.9bлв593.7m17.4x
Thu, 09 Dec 2021лв29.2bлв12.9bлв587.5m17.5x
Sat, 06 Nov 2021лв29.4bлв11.9bлв493.5m16.7x
Mon, 04 Oct 2021лв28.8bлв11.8bлв474.5m17.3x
Wed, 01 Sep 2021лв28.6bлв11.8bлв465.9m16.3x
Thu, 08 Jul 2021лв27.9bлв11.8bлв483.0m14.8x
Wed, 31 Mar 2021лв27.7bлв11.3bлв452.7m17.2x
Sat, 02 Jan 2021лв27.2bлв11.1bлв397.8m16.1x
Tue, 06 Oct 2020лв26.7bлв11.2bлв700.3m14.5x
Fri, 10 Jul 2020лв26.4bлв11.2bлв730.4m15.1x
Thu, 02 Apr 2020лв24.9bлв11.4bлв755.5m16.6x
Sun, 05 Jan 2020лв26.7bлв11.3bлв706.1m17.9x
Wed, 09 Oct 2019лв26.7bлв11.3bлв648.0m17.4x
Tue, 02 Jul 2019лв26.3bлв11.1bлв677.3m15.1x
Median PE Ratio

15.5x


Total Market Cap: лв26.1bTotal Earnings: лв607.9mTotal Revenue: лв10.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Bulgarian Market Median PE3Y Average 16.3x202020212022
Current Market PE
  • Investors are relatively neutral on the 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 16.3x.
Past Earnings Growth
  • The earnings for Bulgarian listed companies have grown 12% 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 Market0.72%
Energy15.70%
Financials4.56%
Tech3.35%
Consumer Discretionary3.11%
Consumer Staples1.06%
Industrials1.03%
Healthcare0.42%
Utilities0.42%
Real Estate0.055%
Materials-0.31%
Telecom-7.30%
Sector PE
  • Investors are most optimistic about the Energy sector which is trading above its 3-year average PE ratio of 66.5x.
  • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Financials sector, which is trading below its 3-year average of 11.4x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Staples sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 40% per year.
  • In contrast, the Industrials industry is expected to see its earnings growth to stay flat 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 ADлв2.2213.8%
+лв40.3m
18.4%PB0.3xFinancials
CCB Central Cooperative Bank ADлв1.5712.1%
+лв21.6m
59.4%PB0.3xFinancials
EUBG Eurohold Bulgaria ADлв2.283.6%
+лв20.8m
-10.2%PS6.3xFinancials
IHB Industrial Holding Bulgaria ADлв2.287.5%
+лв15.5m
143.9%PS8.5xIndustrials
SGH Sirma Group Holding ADлв0.7346.0%
+лв13.5m
36.4%PS9.6xTech
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