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Bulgarian (SOFIX) Market Analysis & Valuation

UpdatedMay 19, 2025
DataAggregated Company Financials
Companies168
  • 7D0.8%
  • 3M3.0%
  • 1Y4.9%
  • YTD1.7%

The Information Technology sector gained 11% while the market remained flat over the last week. More promisingly, the market is up 4.9% over the past year. Earnings are forecast to grow by 29% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 May 2025лв15.7bлв15.8bлв1.0b19.8x15.4x1x
Thu, 17 Apr 2025лв15.5bлв16.3bлв1.0b18.5x14.8x0.9x
Sat, 15 Mar 2025лв15.1bлв16.3bлв1.1b17.5x14x0.9x
Mon, 10 Feb 2025лв15.0bлв12.6bлв896.3m17.4x16.8x1.2x
Wed, 08 Jan 2025лв14.8bлв12.5bлв882.6m17x16.7x1.2x
Fri, 06 Dec 2024лв14.6bлв12.5bлв888.4m17x16.4x1.2x
Sun, 03 Nov 2024лв15.0bлв12.1bлв842.0m17.2x17.8x1.2x
Tue, 01 Oct 2024лв14.8bлв12.1bлв849.5m16.6x17.5x1.2x
Thu, 29 Aug 2024лв15.7bлв14.6bлв861.1m16x18.2x1.1x
Sat, 27 Jul 2024лв15.1bлв12.0bлв856.7m14.8x17.6x1.3x
Mon, 24 Jun 2024лв15.1bлв12.3bлв912.7m13.7x16.5x1.2x
Wed, 22 May 2024лв15.8bлв16.6bлв1.1b13.1x14.1x1x
Fri, 19 Apr 2024лв14.8bлв16.4bлв1.2b13x12.7x0.9x
Sun, 17 Mar 2024лв15.2bлв16.8bлв1.2b14.1x12.6x0.9x
Tue, 13 Feb 2024лв15.0bлв16.1bлв1.1b13.7x13.7x0.9x
Thu, 11 Jan 2024лв15.8bлв17.8bлв1.3b11.4x12.1x0.9x
Sat, 09 Dec 2023лв15.6bлв18.4bлв1.3b12x11.7x0.8x
Mon, 06 Nov 2023лв15.7bлв18.8bлв1.4b12.6x11.4x0.8x
Wed, 04 Oct 2023лв15.3bлв18.8bлв1.4b12.2x10.9x0.8x
Fri, 01 Sep 2023лв15.1bлв18.7bлв1.3b12.3x11.2x0.8x
Sun, 30 Jul 2023лв14.5bлв19.2bлв1.3b13.4x10.8x0.8x
Tue, 27 Jun 2023лв14.3bлв19.3bлв1.3b13.4x11.3x0.7x
Thu, 25 May 2023лв14.2bлв20.4bлв1.1b13.1x12.9x0.7x
Sat, 22 Apr 2023лв13.7bлв20.4bлв1.1b13.1x12.2x0.7x
Mon, 20 Mar 2023лв13.2bлв20.3bлв1.0b13.4x12.9x0.7x
Wed, 15 Feb 2023лв13.7bлв20.3bлв1.2b14.4x11.8x0.7x
Fri, 13 Jan 2023лв13.6bлв20.2bлв1.2b13.4x11.8x0.7x
Sun, 11 Dec 2022лв13.3bлв20.3bлв1.1b11.8x11.6x0.7x
Tue, 08 Nov 2022лв13.1bлв18.7bлв1.0b12.1x12.7x0.7x
Thu, 06 Oct 2022лв12.8bлв18.5bлв1.1b12.5x12x0.7x
Sat, 03 Sep 2022лв13.3bлв18.1bлв1.0b13.9x13x0.7x
Mon, 01 Aug 2022лв13.3bлв16.9bлв988.4m14.3x13.4x0.8x
Wed, 29 Jun 2022лв13.5bлв17.1bлв992.4m14.6x13.6x0.8x
Fri, 27 May 2022лв29.6bлв15.8bлв851.6m14.6x34.8x1.9x
Price to Earnings Ratio

34.8x


Total Market Cap: лв29.6bTotal Earnings: лв851.6mTotal Revenue: лв15.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Bulgarian Market Price to Earnings3Y Average 14.3x202320242025
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 14.3x.
Past Earnings Growth
  • The earnings for Bulgarian listed companies have grown 6.2% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Bulgarian Market?

BG Market0.79%
Tech10.84%
Energy7.43%
Consumer Staples3.82%
Healthcare0.42%
Real Estate0.31%
Utilities0%0
Telecom-0.097%
Financials-0.88%
Consumer Discretionary-1.07%
Industrials-1.54%
Materials-2.70%
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 194x.
    • 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 30% over the next 5 years.
  • This is better than its past earnings growth rate of 25% per year.
  • In contrast, the Materials sector is expected to see its earnings grow by 11% 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
SLYG Shelly Group€43.5014.8%
+€101.4m
18.1%PE33.7xTech
THQM Tchaikapharma High Quality Medicines ADлв17.405.5%
+лв82.6m
0.6%PE307.7xHealthcare
SFA Sopharma ADлв6.501.9%
+лв20.0m
6.2%PE13.9xHealthcare
T57 Trace Group Holdлв6.757.1%
+лв10.9m
50.0%PE8.6xIndustrials
SO Smart Organic ADлв32.002.6%
+лв9.1m
62.4%PE23.7xConsumer Staples
See more
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Market Insights

This week we are back to our series on innovation and disruption, after a brief detour to honour Warren Buffett’s career. Specifically, we are looking at the field of automation and robotics...

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FIB

лв4.40

First Investment Bank AD

7D

-5.2%

1Y

-0.9%

ATOM

лв11.50

Atomenergoremont

7D

-5.0%

1Y

n/a

ALCM

лв6.10

Alcomet AD

7D

-4.7%

1Y

-17.6%

SLYG

€43.50

Shelly Group

7D

14.8%

1Y

18.1%

BPF

лв0.90

Bravo Property Fund REIT

7D

-11.8%

1Y

-18.9%

SPH

лв8.40

Stara Planina Hold

7D

3.7%

1Y

-18.4%

DUH

лв8.44

Doverie United Holding AD

7D

-3.2%

1Y

-7.0%

THQM

лв17.40

Tchaikapharma High Quality Medicines AD

7D

5.5%

1Y

0.6%

GR6

лв1.13

Gradus AD

7D

2.7%

1Y

-19.9%

SFA

лв6.46

Sopharma AD

7D

1.3%

1Y

5.6%

CHIM

лв0.69

Chimimport AD

7D

-3.5%

1Y

-5.4%

SFT

лв5.50

Sopharma Trading AD

7D

-4.3%

1Y

-6.8%

ALFB

лв0.70

Alpha Bulgaria AD

7D

125.8%

1Y

n/a