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Ghanaian (GSE) Market Analysis & Valuation
UpdatedMar 19, 2025
DataAggregated Company Financials
Companies25
- 7D0.6%
- 3M25.9%
- 1Y75.4%
- YTD22.6%
In the last week, the market has stayed flat, however the Information Technology sector stood out, gaining 25%. Meanwhile, the market is actually up 75% over the past year.
Market Valuation and Performance
Has the Ghanaian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 19 Mar 2025 | GH₵62.9b | GH₵67.0b | GH₵10.2b | 3.8x | 6.1x | 0.9x |
| Fri, 14 Feb 2025 | GH₵54.8b | GH₵63.8b | GH₵9.4b | 3.9x | 5.8x | 0.9x |
| Sun, 12 Jan 2025 | GH₵51.3b | GH₵63.4b | GH₵9.4b | 3.7x | 5.4x | 0.8x |
| Tue, 10 Dec 2024 | GH₵49.3b | GH₵63.4b | GH₵9.4b | 3.5x | 5.2x | 0.8x |
| Thu, 07 Nov 2024 | GH₵47.8b | GH₵62.9b | GH₵9.4b | 3.7x | 5.1x | 0.8x |
| Sat, 05 Oct 2024 | GH₵44.0b | GH₵59.7b | GH₵9.5b | 3.5x | 4.6x | 0.7x |
| Mon, 02 Sep 2024 | GH₵44.2b | GH₵59.7b | GH₵9.5b | 3.2x | 4.6x | 0.7x |
| Wed, 31 Jul 2024 | GH₵45.4b | GH₵59.2b | GH₵9.0b | 7x | 5x | 0.8x |
| Fri, 28 Jun 2024 | GH₵40.0b | GH₵59.9b | GH₵8.7b | 3.3x | 4.6x | 0.7x |
| Sun, 26 May 2024 | GH₵39.0b | GH₵59.7b | GH₵8.7b | 3.2x | 4.5x | 0.7x |
| Tue, 23 Apr 2024 | GH₵36.4b | GH₵58.6b | GH₵7.9b | 3.1x | 4.6x | 0.6x |
| Thu, 21 Mar 2024 | GH₵35.5b | GH₵53.8b | GH₵5.4b | 5.2x | 6.6x | 0.7x |
| Sat, 17 Feb 2024 | GH₵31.5b | GH₵52.7b | GH₵3.2b | 6.3x | 9.7x | 0.6x |
| Mon, 15 Jan 2024 | GH₵31.2b | GH₵52.6b | GH₵3.2b | 5.2x | 9.8x | 0.6x |
| Wed, 13 Dec 2023 | GH₵31.2b | GH₵52.6b | GH₵3.2b | 5x | 9.8x | 0.6x |
| Fri, 10 Nov 2023 | GH₵31.4b | GH₵51.7b | GH₵2.5b | 4.8x | 12.4x | 0.6x |
| Sun, 08 Oct 2023 | GH₵31.3b | GH₵50.6b | GH₵2.2b | 5.5x | 14.2x | 0.6x |
| Tue, 05 Sep 2023 | GH₵30.1b | GH₵49.7b | GH₵2.3b | 5.4x | 13x | 0.6x |
| Thu, 03 Aug 2023 | GH₵30.8b | GH₵49.0b | GH₵2.2b | 4.4x | 13.8x | 0.6x |
| Sat, 01 Jul 2023 | GH₵27.6b | GH₵48.9b | GH₵2.0b | 5.6x | 13.5x | 0.6x |
| Mon, 29 May 2023 | GH₵24.7b | GH₵52.2b | GH₵4.9b | 4.7x | 5x | 0.5x |
| Wed, 26 Apr 2023 | GH₵27.3b | GH₵48.3b | GH₵5.9b | 5x | 4.6x | 0.6x |
| Fri, 24 Mar 2023 | GH₵26.7b | GH₵48.5b | GH₵6.0b | 5.2x | 4.5x | 0.6x |
| Sun, 19 Feb 2023 | GH₵23.9b | GH₵47.8b | GH₵5.8b | 4.9x | 4.1x | 0.5x |
| Tue, 17 Jan 2023 | GH₵24.1b | GH₵43.3b | GH₵5.8b | 4.6x | 4.1x | 0.6x |
| Thu, 15 Dec 2022 | GH₵24.3b | GH₵43.2b | GH₵5.9b | 5.4x | 4.2x | 0.6x |
| Sat, 12 Nov 2022 | GH₵24.3b | GH₵38.9b | GH₵5.6b | 4.4x | 4.3x | 0.6x |
| Mon, 10 Oct 2022 | GH₵24.4b | GH₵38.9b | GH₵5.7b | 4.4x | 4.3x | 0.6x |
| Wed, 07 Sep 2022 | GH₵24.9b | GH₵38.9b | GH₵5.6b | 4.6x | 4.4x | 0.6x |
| Fri, 05 Aug 2022 | GH₵23.6b | GH₵38.3b | GH₵5.4b | 4.4x | 4.4x | 0.6x |
| Sun, 03 Jul 2022 | GH₵25.2b | GH₵33.6b | GH₵5.2b | 4.9x | 4.8x | 0.8x |
| Tue, 31 May 2022 | GH₵25.2b | GH₵33.4b | GH₵5.3b | 4.9x | 4.8x | 0.8x |
| Thu, 28 Apr 2022 | GH₵26.6b | GH₵30.5b | GH₵5.0b | 5.5x | 5.3x | 0.9x |
| Sat, 26 Mar 2022 | GH₵27.3b | GH₵30.4b | GH₵4.9b | 6.3x | 5.5x | 0.9x |
Price to Earnings Ratio
5.5x
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 6.6x.
Past Earnings Growth
- The earnings for Ghanaian listed companies have grown 27% per year over the last three years.
- Revenues for these companies have grown 30% 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 | 0.61% | |
| Tech | 25.00% | |
| Energy | 7.89% | |
| Financials | 3.23% | |
| Consumer Staples | 0.04% | |
| Materials | 0% | 0 |
| Industrials | 0% | 0 |
| Consumer Discretionary | 0% | 0 |
| Healthcare | 0% | 0 |
| Telecom | -0.63% | |
Sector PE
- Investors favour the Consumer Staples sector the most for future growth, which is trading close to its 3-year average PE ratio of 13.3x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| TOTAL TotalEnergies Marketing Ghana | GH₵21.90 | 9.9% +GH₵221.5m | 130.5% | PE8.5x | Energy | |
| ACCESS Access Bank (Ghana) | GH₵8.25 | 10.0% +GH₵130.5m | 103.7% | PB0.7x | Financials | |
| EGH Ecobank Ghana | GH₵6.60 | 3.9% +GH₵80.6m | 8.2% | PB0.5x | Financials | |
| EGL Enterprise Group | GH₵2.47 | 20.5% +GH₵71.8m | 3.3% | PE1.3x | Financials | |
| SCB Standard Chartered Bank Ghana | GH₵26.00 | 2.0% +GH₵67.4m | 35.1% | PB1.7x | Financials |
