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Ghanaian (GSE) Market Analysis & Valuation

UpdatedMay 23, 2022
DataAggregated Company Financials
Companies24
  • 7D0.1%
  • 3M-6.8%
  • 1Y4.6%
  • YTD-7.7%

In the last week, the market has been flat. Meanwhile, the market is actually up 4.6% over the past year. Earnings are forecast to grow by 21% annually.

Market Valuation and Performance

Has the Ghanaian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPE
Mon, 23 May 2022GH₵25.2bGH₵33.3bGH₵5.3b4.9x
Wed, 20 Apr 2022GH₵26.5bGH₵30.5bGH₵5.0b5.8x
Fri, 18 Mar 2022GH₵27.2bGH₵30.3bGH₵5.0b6x
Sun, 13 Feb 2022GH₵25.7bGH₵27.7bGH₵4.6b5.8x
Tue, 11 Jan 2022GH₵25.7bGH₵27.2bGH₵4.6b5.5x
Thu, 09 Dec 2021GH₵26.9bGH₵27.2bGH₵4.6b5.5x
Sat, 06 Nov 2021GH₵28.1bGH₵26.3bGH₵4.5b5.7x
Mon, 04 Oct 2021GH₵27.3bGH₵24.2bGH₵4.3b4.8x
Wed, 01 Sep 2021GH₵28.0bGH₵25.7bGH₵4.4b4.8x
Thu, 08 Jul 2021GH₵26.6bGH₵25.7bGH₵4.4b4.7x
Wed, 31 Mar 2021GH₵22.0bGH₵23.7bGH₵4.2b5x
Sat, 02 Jan 2021GH₵19.0bGH₵23.0bGH₵3.9b4.6x
Tue, 06 Oct 2020GH₵18.3bGH₵22.7bGH₵3.7b4.7x
Fri, 10 Jul 2020GH₵18.6bGH₵22.6bGH₵3.3b5.3x
Thu, 02 Apr 2020GH₵21.2bGH₵23.1bGH₵3.1b6.2x
Sun, 05 Jan 2020GH₵22.2bGH₵22.4bGH₵2.9b6.2x
Wed, 09 Oct 2019GH₵21.7bGH₵21.9bGH₵2.8b7.2x
Tue, 02 Jul 2019GH₵23.4bGH₵21.0bGH₵2.6b7.5x
Median PE Ratio

9.8x


Total Market Cap: GH₵23.9bTotal Earnings: GH₵2.5bTotal Revenue: GH₵19.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Ghanaian Market Median PE3Y Average 5.8x202020212022
Current Market PE
  • Investors are relatively neutral on the 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 5.8x.
Past Earnings Growth
  • The earnings for Ghanaian listed companies have grown 28% per year over the last three years.
  • Revenues for these companies have grown 19% 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 Market0.098%
Financials0.21%
Energy0.096%
Real Estate0%
Materials0%
Industrials0%
Consumer Discretionary0%
Consumer Staples0%
Healthcare0%
Tech0%
Telecom0%
Utilities0%
Sector PE
  • Investors are most optimistic about the Consumer Staples sector which is trading above its 3-year average PE ratio of 25.4x.
  • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Financials sector, which is trading close to its 3-year average of 4.4x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 22% over the next 5 years.
  • However this is lower than its past earnings growth rate of 49% per year.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
CAL CalBankGH₵0.914.6%
+GH₵25.1m
13.8%PB0.4xFinancials
SIC SIC InsuranceGH₵0.287.7%
+GH₵3.9m
300.0%PS1.9xFinancials
TOTAL Total Petroleum GhanaGH₵4.060.2%
+GH₵1.1m
24.9%PS4.3xEnergy
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Latest News

GCB

GH₵5.07

GCB Bank

7D

-0.4%

1Y

-2.5%