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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedNov 29, 2024
DataAggregated Company Financials
Companies171
- 7D-0.8%
- 3M-1.8%
- 1Y10.7%
- YTD8.8%
Over the last 7 days, the market has remained flat, although notably the Energy sector gained 14% in that time. As for the longer term, the market has risen 11% in the past 12 months. Earnings are forecast to grow by 35% annually.
Market Valuation and Performance
Has the Bulgarian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 29 Nov 2024 | лв14.5b | лв12.1b | лв880.1m | 17x | 16.5x | 1.2x |
| Sun, 27 Oct 2024 | лв14.9b | лв12.1b | лв829.9m | 17.7x | 18x | 1.2x |
| Tue, 24 Sep 2024 | лв15.2b | лв12.1b | лв849.9m | 16.7x | 17.9x | 1.3x |
| Thu, 22 Aug 2024 | лв15.6b | лв14.7b | лв869.2m | 13.6x | 17.9x | 1.1x |
| Sat, 20 Jul 2024 | лв15.1b | лв12.1b | лв875.8m | 16.3x | 17.3x | 1.3x |
| Mon, 17 Jun 2024 | лв15.0b | лв12.3b | лв907.6m | 14.7x | 16.5x | 1.2x |
| Wed, 15 May 2024 | лв15.6b | лв16.6b | лв1.1b | 12.9x | 14x | 0.9x |
| Fri, 12 Apr 2024 | лв14.9b | лв16.7b | лв1.2b | 14.1x | 12.7x | 0.9x |
| Sun, 10 Mar 2024 | лв15.1b | лв16.7b | лв1.2b | 14.1x | 12.7x | 0.9x |
| Tue, 06 Feb 2024 | лв14.9b | лв16.1b | лв1.1b | 13.7x | 13.6x | 0.9x |
| Thu, 04 Jan 2024 | лв15.7b | лв17.7b | лв1.3b | 11.6x | 12.2x | 0.9x |
| Sat, 02 Dec 2023 | лв15.6b | лв18.1b | лв1.3b | 11.9x | 11.7x | 0.9x |
| Mon, 30 Oct 2023 | лв15.6b | лв18.8b | лв1.4b | 12.6x | 11.1x | 0.8x |
| Wed, 27 Sep 2023 | лв15.2b | лв18.8b | лв1.4b | 12x | 10.8x | 0.8x |
| Fri, 25 Aug 2023 | лв14.9b | лв15.9b | лв1.1b | 12.2x | 13.6x | 0.9x |
| Sun, 23 Jul 2023 | лв14.5b | лв19.2b | лв1.3b | 13.5x | 10.7x | 0.8x |
| Tue, 20 Jun 2023 | лв14.4b | лв19.2b | лв1.3b | 13.5x | 11.3x | 0.7x |
| Thu, 18 May 2023 | лв13.9b | лв20.3b | лв1.1b | 13.1x | 12.5x | 0.7x |
| Sat, 15 Apr 2023 | лв13.8b | лв20.4b | лв1.1b | 12.8x | 12.3x | 0.7x |
| Mon, 13 Mar 2023 | лв13.9b | лв20.4b | лв1.0b | 13.6x | 13.7x | 0.7x |
| Wed, 08 Feb 2023 | лв13.7b | лв20.3b | лв1.2b | 13.5x | 11.3x | 0.7x |
| Fri, 06 Jan 2023 | лв13.6b | лв20.2b | лв1.2b | 12.7x | 11.8x | 0.7x |
| Sun, 04 Dec 2022 | лв13.3b | лв20.3b | лв1.2b | 11.8x | 11.6x | 0.7x |
| Tue, 01 Nov 2022 | лв13.0b | лв18.5b | лв1.1b | 12.9x | 12.1x | 0.7x |
| Thu, 29 Sep 2022 | лв12.9b | лв18.5b | лв1.1b | 12.7x | 12.1x | 0.7x |
| Sat, 27 Aug 2022 | лв13.4b | лв17.0b | лв982.0m | 14.1x | 13.6x | 0.8x |
| Mon, 25 Jul 2022 | лв13.4b | лв16.9b | лв984.7m | 14.4x | 13.6x | 0.8x |
| Wed, 22 Jun 2022 | лв13.5b | лв17.1b | лв991.4m | 14.4x | 13.6x | 0.8x |
| Fri, 20 May 2022 | лв29.6b | лв15.7b | лв804.3m | 15x | 36.8x | 1.9x |
| Sun, 17 Apr 2022 | лв29.6b | лв15.1b | лв865.0m | 14.5x | 34.2x | 2x |
| Tue, 15 Mar 2022 | лв28.9b | лв15.2b | лв864.3m | 15.2x | 33.5x | 1.9x |
| Thu, 10 Feb 2022 | лв29.7b | лв13.2b | лв598.6m | 15.8x | 49.6x | 2.2x |
| Sat, 08 Jan 2022 | лв29.6b | лв12.9b | лв577.5m | 17.1x | 51.3x | 2.3x |
| Mon, 06 Dec 2021 | лв29.0b | лв12.9b | лв585.5m | 18x | 49.6x | 2.2x |
Price to Earnings Ratio
49.6x
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 16.5x which is lower than its 3-year average PE of 18.6x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 15% per year over the last three years.
- Meanwhile revenues for these companies have declined 2.1% per year.
- This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | -0.78% | |
| Energy | 13.95% | |
| Materials | 1.49% | |
| Utilities | 0.18% | |
| Financials | 0.14% | |
| Telecom | 0.061% | |
| Real Estate | 0.016% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Tech | -0.19% | |
| Healthcare | -1.23% | |
| Industrials | -1.92% | |
| Consumer Discretionary | -1.99% | |
| Consumer Staples | -2.59% | |
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 218x.
- 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 35% over the next 5 years.
- However this is lower than its past earnings growth rate of 46% per year.
- In contrast, the Tech sector is expected to see its earnings grow by 35% 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 | лв3.96 | 4.2% +лв23.9m | 53.5% | PB0.4x | Financials | |
| NGAZ Oil and Gas Exploration and Production AD | лв4.90 | 14.0% +лв7.3m | -12.5% | PE26.8x | Energy | |
| SPH Stara Planina Hold | лв9.50 | 3.3% +лв6.2m | -7.8% | PE28.6x | Industrials | |
| ALCM Alcomet AD | лв6.80 | 4.6% +лв5.4m | -1.4% | PS0.3x | Materials | |
| ODES Odessos Shiprepair Yard | лв320.00 | 2.6% +лв4.7m | 6.7% | PE9.8x | Industrials |