Bulgarian (SOFIX) Tech Sector Analysis

Sector Valuation and Performance

Has the Bulgarian Tech Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 04 Dec 2022	лв600.3m	лв298.9m	лв23.6m	19x	25.5x	2x
Tue, 01 Nov 2022	лв568.6m	лв285.0m	лв40.0m	14x	14.2x	2x
Thu, 29 Sep 2022	лв553.0m	лв285.0m	лв40.0m	15.2x	13.8x	1.9x
Sat, 27 Aug 2022	лв585.7m	лв291.9m	лв40.8m	14.6x	14.4x	2x
Mon, 25 Jul 2022	лв557.6m	лв291.9m	лв40.8m	14.1x	13.7x	1.9x
Wed, 22 Jun 2022	лв577.0m	лв291.9m	лв40.8m	14.7x	14.2x	2x
Fri, 20 May 2022	лв558.1m	лв294.0m	лв43.9m	11.3x	12.7x	1.9x
Sun, 17 Apr 2022	лв610.7m	лв295.8m	лв43.4m	10.7x	14.1x	2.1x
Tue, 15 Mar 2022	лв575.6m	лв295.8m	лв43.4m	11x	13.3x	1.9x
Thu, 10 Feb 2022	лв625.8m	лв301.4m	лв34.0m	17.8x	18.4x	2.1x
Sat, 08 Jan 2022	лв692.2m	лв300.9m	лв34.2m	23.8x	20.3x	2.3x
Mon, 06 Dec 2021	лв682.2m	лв294.1m	лв35.6m	23.7x	19.2x	2.3x
Wed, 03 Nov 2021	лв620.0m	лв296.1m	лв34.9m	20.7x	17.7x	2.1x
Fri, 01 Oct 2021	лв634.9m	лв265.6m	лв34.7m	20.6x	18.3x	2.4x
Sun, 29 Aug 2021	лв540.3m	лв261.7m	лв33.4m	19.2x	16.2x	2.1x
Mon, 05 Jul 2021	лв531.6m	лв261.9m	лв33.2m	18.7x	16x	2x
Thu, 08 Apr 2021	лв451.0m	лв261.9m	лв33.1m	14.7x	13.6x	1.7x
Sun, 10 Jan 2021	лв312.8m	лв251.5m	лв29.4m	12.2x	10.7x	1.2x
Sat, 03 Oct 2020	лв234.3m	лв236.6m	лв21.3m	13.5x	11x	1x
Tue, 07 Jul 2020	лв181.8m	лв220.7m	лв26.2m	8.1x	6.9x	0.8x
Fri, 10 Apr 2020	лв75.0m	лв97.2m	лв12.8m	13.1x	5.9x	0.8x
Thu, 02 Jan 2020	лв100.9m	лв100.8m	лв11.3m	14.3x	8.9x	1x

Current Industry PE

Investors are optimistic on the Bulgarian Information Technology industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 17.1x which is higher than its 3-year average PE of 12.9x.

The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.0x.

Past Earnings Growth

The earnings for companies in the Information Technology industry have grown 46% per year over the last three years.
Revenues for these companies have grown 44% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Bulgarian Tech sector?


BG Market	1.05%
Tech	2.64%
Electronic Equipment and Components	5.58%
IT	2.57%
Software	0%
Communications	0%
Tech Hardware	0%
Semiconductors	0%

Industry PE

Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio of 13.7x.

Analysts are expecting annual earnings growth of 27.0%, which is higher than its past year's earnings decline of 11.3% per year.

Forecasted Growth

Analysts are most optimistic on the IT industry, expecting annual earnings growth of 27% over the next 5 years.
This is better than its past earnings decline of 11% per year.

In contrast, the IT industry is expected to see its earnings grow by 27% per year over the next few years.

	Company	Last Price	7D	1Y	Valuation
	A4L Allterco AD	лв20.90	4.8% +лв17.1m	-14.3%	PE20.6x
	BDT Biodit AD	лв1.87	5.7% +лв1.4m	10.7%	PS41x

Company

Last Price

Valuation

A4L Allterco AD

лв20.90

4.8%
+лв17.1m

-14.3%

PE20.6x

BDT Biodit AD

лв1.87

5.7%
+лв1.4m

10.7%

PS41x

Dec 02

Sector Valuation and Performance