Ghanaian (GSE) Market Analysis & Valuation
UpdatedMay 30, 2023
DataAggregated Company Financials
Companies26
- 7D-2.6%
- 3M4.3%
- 1Y-2.2%
- YTD2.4%
Over the last 7 days, the market has dropped 2.6%, driven by a decline of 4.4% in the Communication Services sector. In the last 12 months the market has been flat overall. As for the next few years, earnings are expected to grow by 24% per annum.
Market Valuation and Performance
Has the Ghanaian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 30 May 2023 | GH₵24.7b | GH₵52.2b | GH₵4.9b | 4.7x | 5x | 0.5x |
| Thu, 27 Apr 2023 | GH₵27.3b | GH₵48.3b | GH₵5.9b | 5x | 4.6x | 0.6x |
| Sat, 25 Mar 2023 | GH₵28.0b | GH₵48.5b | GH₵6.0b | 5.2x | 4.7x | 0.6x |
| Mon, 20 Feb 2023 | GH₵23.9b | GH₵47.8b | GH₵5.8b | 4.9x | 4.1x | 0.5x |
| Wed, 18 Jan 2023 | GH₵24.1b | GH₵43.3b | GH₵5.8b | 4.6x | 4.1x | 0.6x |
| Fri, 16 Dec 2022 | GH₵24.3b | GH₵43.2b | GH₵5.9b | 5.4x | 4.1x | 0.6x |
| Sun, 13 Nov 2022 | GH₵24.3b | GH₵38.9b | GH₵5.6b | 4.4x | 4.3x | 0.6x |
| Tue, 11 Oct 2022 | GH₵24.4b | GH₵38.9b | GH₵5.7b | 4.4x | 4.3x | 0.6x |
| Thu, 08 Sep 2022 | GH₵24.9b | GH₵38.9b | GH₵5.6b | 4.6x | 4.4x | 0.6x |
| Sat, 06 Aug 2022 | GH₵23.6b | GH₵38.3b | GH₵5.4b | 4.4x | 4.4x | 0.6x |
| Mon, 04 Jul 2022 | GH₵25.2b | GH₵33.6b | GH₵5.2b | 4.9x | 4.8x | 0.8x |
| Wed, 01 Jun 2022 | GH₵25.2b | GH₵33.4b | GH₵5.3b | 4.9x | 4.8x | 0.8x |
| Fri, 29 Apr 2022 | GH₵26.6b | GH₵31.2b | GH₵5.2b | 5.5x | 5.1x | 0.9x |
| Sun, 27 Mar 2022 | GH₵27.3b | GH₵30.4b | GH₵4.9b | 6.3x | 5.5x | 0.9x |
| Tue, 22 Feb 2022 | GH₵27.0b | GH₵29.5b | GH₵4.7b | 5.9x | 5.7x | 0.9x |
| Thu, 20 Jan 2022 | GH₵26.0b | GH₵27.2b | GH₵4.6b | 5.5x | 5.7x | 1x |
| Sat, 18 Dec 2021 | GH₵26.8b | GH₵27.2b | GH₵4.6b | 5.5x | 5.9x | 1x |
| Mon, 15 Nov 2021 | GH₵28.6b | GH₵27.1b | GH₵4.5b | 5.8x | 6.3x | 1.1x |
| Wed, 13 Oct 2021 | GH₵27.3b | GH₵25.3b | GH₵4.4b | 5.3x | 6.3x | 1.1x |
| Fri, 10 Sep 2021 | GH₵26.8b | GH₵25.1b | GH₵4.3b | 4.5x | 6.2x | 1.1x |
| Sun, 08 Aug 2021 | GH₵28.0b | GH₵25.7b | GH₵4.4b | 4.8x | 6.3x | 1.1x |
| Sat, 01 May 2021 | GH₵25.6b | GH₵23.7b | GH₵4.2b | 5.1x | 6.1x | 1.1x |
| Tue, 02 Feb 2021 | GH₵19.9b | GH₵23.0b | GH₵3.9b | 5.1x | 5.1x | 0.9x |
| Fri, 06 Nov 2020 | GH₵18.0b | GH₵22.7b | GH₵3.7b | 4.8x | 4.9x | 0.8x |
| Mon, 10 Aug 2020 | GH₵18.6b | GH₵22.6b | GH₵3.3b | 5.5x | 5.6x | 0.8x |
Price to Earnings Ratio
6x
Current Market PE
- Investors are relatively neutral on the Ghanaian 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 5.2x.
Past Earnings Growth
- The earnings for Ghanaian listed companies have grown 16% per year over the last three years.
- Revenues for these companies have grown 31% 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 Ghanaian Market?
| GH Market | -2.60% | |
| Consumer Staples | 0.92% | |
| Energy | 0.17% | |
| Real Estate | 0% | |
| Materials | 0% | |
| Industrials | 0% | |
| Consumer Discretionary | 0% | |
| Healthcare | 0% | |
| Tech | 0% | |
| Utilities | 0% | |
| Financials | -0.68% | |
| Telecom | -4.42% | |
Sector PE
Forecasted Growth
- Analysts are most optimistic on the Financials sector, expecting annual earnings growth of 57% over the next 5 years.
- This is better than its past earnings growth rate of 30% per year.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| FML Fan Milk | GH₵1.30 | 30.0% +GH₵34.9m | -56.7% | PS0.3x | Consumer Staples | |
| UNIL Unilever Ghana | GH₵6.08 | 4.8% +GH₵17.5m | 3.2% | PE25.5x | Consumer Staples | |
| TOTAL TotalEnergies Marketing Ghana | GH₵6.45 | 0.3% +GH₵2.2m | 57.3% | PE4.2x | Energy |
Market Insights
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