M+S Hydraulic AD's (BUL:MSH) Soft Earnings Don't Show The Whole Picture
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Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedDec 04, 2024
DataAggregated Company Financials
Companies172
- 7D0.1%
- 3M-1.6%
- 1Y11.3%
- YTD9.1%
In the last week, the market has been flat. Meanwhile, the market is actually up 11% over the past year. 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 |
|---|---|---|---|---|---|---|
| Thu, 05 Dec 2024 | лв14.6b | лв12.6b | лв880.1m | 16.5x | 16.6x | 1.2x |
| Sat, 02 Nov 2024 | лв14.9b | лв12.1b | лв841.1m | 17.2x | 17.8x | 1.2x |
| Mon, 30 Sep 2024 | лв14.8b | лв12.1b | лв849.5m | 16.5x | 17.4x | 1.2x |
| Wed, 28 Aug 2024 | лв15.7b | лв14.6b | лв861.0m | 16x | 18.2x | 1.1x |
| Fri, 26 Jul 2024 | лв15.1b | лв12.0b | лв857.7m | 15x | 17.6x | 1.3x |
| Sun, 23 Jun 2024 | лв15.1b | лв12.3b | лв912.7m | 13.7x | 16.5x | 1.2x |
| Tue, 21 May 2024 | лв15.7b | лв16.6b | лв1.1b | 13.1x | 14x | 0.9x |
| Thu, 18 Apr 2024 | лв14.8b | лв16.4b | лв1.2b | 13x | 12.7x | 0.9x |
| Sat, 16 Mar 2024 | лв15.2b | лв16.8b | лв1.2b | 14.1x | 12.6x | 0.9x |
| Mon, 12 Feb 2024 | лв15.0b | лв16.1b | лв1.1b | 14x | 13.7x | 0.9x |
| Wed, 10 Jan 2024 | лв15.8b | лв17.8b | лв1.3b | 11.5x | 12.1x | 0.9x |
| Fri, 08 Dec 2023 | лв15.5b | лв18.3b | лв1.3b | 11.8x | 11.6x | 0.8x |
| Sun, 05 Nov 2023 | лв15.7b | лв18.8b | лв1.4b | 12.6x | 11.4x | 0.8x |
| Tue, 03 Oct 2023 | лв15.3b | лв18.8b | лв1.4b | 12.1x | 10.9x | 0.8x |
| Thu, 31 Aug 2023 | лв14.9b | лв18.9b | лв1.3b | 12.2x | 11.1x | 0.8x |
| Sat, 29 Jul 2023 | лв14.5b | лв19.2b | лв1.3b | 13.4x | 10.8x | 0.8x |
| Mon, 26 Jun 2023 | лв14.3b | лв19.3b | лв1.3b | 13.4x | 11.3x | 0.7x |
| Wed, 24 May 2023 | лв14.2b | лв20.4b | лв1.1b | 13.1x | 12.7x | 0.7x |
| Fri, 21 Apr 2023 | лв13.8b | лв20.4b | лв1.1b | 13x | 12.3x | 0.7x |
| Sun, 19 Mar 2023 | лв12.4b | лв20.3b | лв1.0b | 12.8x | 12.3x | 0.6x |
| Tue, 14 Feb 2023 | лв13.8b | лв20.3b | лв1.2b | 14.4x | 11.8x | 0.7x |
| Thu, 12 Jan 2023 | лв13.7b | лв20.2b | лв1.2b | 13.4x | 11.8x | 0.7x |
| Sat, 10 Dec 2022 | лв13.3b | лв20.3b | лв1.1b | 11.8x | 11.6x | 0.7x |
| Mon, 07 Nov 2022 | лв13.1b | лв18.5b | лв1.1b | 12.2x | 11.9x | 0.7x |
| Wed, 05 Oct 2022 | лв12.8b | лв18.5b | лв1.1b | 12.5x | 12x | 0.7x |
| Fri, 02 Sep 2022 | лв13.4b | лв18.0b | лв1.0b | 14.1x | 13.1x | 0.7x |
| Sun, 31 Jul 2022 | лв13.3b | лв16.9b | лв982.3m | 14.3x | 13.5x | 0.8x |
| Tue, 28 Jun 2022 | лв13.5b | лв17.1b | лв992.4m | 14.4x | 13.6x | 0.8x |
| Thu, 26 May 2022 | лв29.6b | лв15.8b | лв851.6m | 14.6x | 34.8x | 1.9x |
| Sat, 23 Apr 2022 | лв29.6b | лв15.1b | лв865.4m | 14.3x | 34.3x | 2x |
| Mon, 21 Mar 2022 | лв29.1b | лв15.2b | лв864.3m | 15.3x | 33.7x | 1.9x |
| Wed, 16 Feb 2022 | лв29.6b | лв13.2b | лв598.6m | 15x | 49.4x | 2.2x |
| Fri, 14 Jan 2022 | лв29.7b | лв12.9b | лв578.5m | 16.5x | 51.3x | 2.3x |
| Sun, 12 Dec 2021 | лв29.3b | лв12.9b | лв578.6m | 17.5x | 50.6x | 2.3x |
Price to Earnings Ratio
50.6x
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 16.6x which is lower than its 3-year average PE of 18.4x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 15% 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 Market | 0.12% | |
| Materials | 0.80% | |
| Industrials | 0.54% | |
| Consumer Discretionary | 0.29% | |
| Tech | 0.28% | |
| Real Estate | 0.27% | |
| Consumer Staples | 0.22% | |
| Utilities | 0.18% | |
| Energy | 0% | |
| Telecom | 0% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Healthcare | -0.079% | |
| Financials | -0.50% | |
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 217x.
- 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.
- This is better than its past earnings growth rate of 19% 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 | |
|---|---|---|---|---|---|---|
| SPDY Speedy AD | лв210.00 | 4.0% +лв43.0m | 60.3% | PE26.4x | Industrials | |
| SLYG Shelly Group AD | €34.40 | 3.6% +€21.7m | 65.0% | PE30.6x | Tech | |
| SFA Sopharma AD | лв5.70 | 1.8% +лв16.6m | -19.9% | PE11.5x | Healthcare | |
| SO Smart Organic AD | лв21.80 | 6.9% +лв15.9m | 6.9% | PE19.7x | Consumer Staples | |
| SFB Sopharma Buildings REIT-Sofia | лв16.50 | 19.6% +лв10.5m | -18.3% | n/a | Real Estate |
