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Ghanaian (GSE) Market Analysis & Valuation

UpdatedJul 03, 2025
DataAggregated Company Financials
Companies23
  • 7D0.01%
  • 3M3.6%
  • 1Y56.9%
  • YTD24.6%

In the last week, the market has been flat. More promisingly, the market is up 57% over the past year. Looking forward, earnings are forecast to grow by 18% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 04 Jul 2025GH₵64.5bGH₵70.1bGH₵11.5b4.9x5.6x0.9x
Sun, 01 Jun 2025GH₵63.0bGH₵69.8bGH₵11.5b4.3x5.5x0.9x
Tue, 29 Apr 2025GH₵62.1bGH₵66.8bGH₵10.6b3.9x5.9x0.9x
Thu, 27 Mar 2025GH₵61.9bGH₵67.1bGH₵10.3b3.2x6x0.9x
Sat, 22 Feb 2025GH₵57.0bGH₵64.2bGH₵9.5b4.1x6x0.9x
Mon, 20 Jan 2025GH₵53.2bGH₵63.4bGH₵9.4b3.7x5.6x0.8x
Wed, 18 Dec 2024GH₵49.3bGH₵63.4bGH₵9.4b3.7x5.2x0.8x
Fri, 15 Nov 2024GH₵48.3bGH₵62.9bGH₵9.4b3.5x5.1x0.8x
Sun, 13 Oct 2024GH₵43.8bGH₵60.0bGH₵9.5b3.5x4.6x0.7x
Tue, 10 Sep 2024GH₵43.9bGH₵59.7bGH₵9.5b3.2x4.6x0.7x
Thu, 08 Aug 2024GH₵45.7bGH₵59.5bGH₵9.5b4.9x4.8x0.8x
Sat, 06 Jul 2024GH₵38.9bGH₵59.4bGH₵9.1b3.5x4.3x0.7x
Mon, 03 Jun 2024GH₵39.1bGH₵59.8bGH₵8.7b3.2x4.5x0.7x
Wed, 01 May 2024GH₵36.9bGH₵59.3bGH₵8.3b3x4.5x0.6x
Fri, 29 Mar 2024GH₵35.8bGH₵54.2bGH₵5.6b5.3x6.4x0.7x
Sun, 25 Feb 2024GH₵31.5bGH₵50.6bGH₵3.2b6.3x9.8x0.6x
Tue, 23 Jan 2024GH₵31.5bGH₵52.6bGH₵3.2b5.2x9.9x0.6x
Thu, 21 Dec 2023GH₵30.5bGH₵52.6bGH₵3.2b5.2x9.7x0.6x
Sat, 18 Nov 2023GH₵31.9bGH₵51.8bGH₵2.5b4.8x12.5x0.6x
Mon, 16 Oct 2023GH₵31.3bGH₵50.6bGH₵2.2b5.5x14.3x0.6x
Wed, 13 Sep 2023GH₵30.6bGH₵49.7bGH₵2.3b5.5x13.2x0.6x
Fri, 11 Aug 2023GH₵30.6bGH₵49.7bGH₵2.3b4.2x13.2x0.6x
Sun, 09 Jul 2023GH₵29.2bGH₵48.6bGH₵2.1b4.8x14.1x0.6x
Tue, 06 Jun 2023GH₵24.6bGH₵51.3bGH₵4.1b4.5x6x0.5x
Thu, 04 May 2023GH₵27.2bGH₵48.3bGH₵5.9b5x4.6x0.6x
Sat, 01 Apr 2023GH₵27.4bGH₵48.5bGH₵6.0b5.2x4.6x0.6x
Mon, 27 Feb 2023GH₵24.0bGH₵47.8bGH₵5.8b4.9x4.1x0.5x
Wed, 25 Jan 2023GH₵24.1bGH₵43.3bGH₵5.8b4.6x4.1x0.6x
Fri, 23 Dec 2022GH₵24.2bGH₵43.2bGH₵5.8b4.8x4.2x0.6x
Sun, 20 Nov 2022GH₵24.4bGH₵42.7bGH₵5.6b4.4x4.3x0.6x
Tue, 18 Oct 2022GH₵24.4bGH₵38.9bGH₵5.7b4.4x4.3x0.6x
Thu, 15 Sep 2022GH₵24.8bGH₵38.9bGH₵5.6b4.6x4.4x0.6x
Sat, 13 Aug 2022GH₵25.5bGH₵38.3bGH₵5.4b4.8x4.7x0.7x
Mon, 11 Jul 2022GH₵25.2bGH₵33.6bGH₵5.2b4.9x4.8x0.8x
Price to Earnings Ratio

4.8x


Total Market Cap: GH₵25.2bTotal Earnings: GH₵5.2bTotal Revenue: GH₵33.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Ghanaian Market Price to Earnings3Y Average 6.7x202320242025
Current Market PE
  • Investors are pessimistic on the Ghanaian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 5.6x which is lower than its 3-year average PE of 6.7x.
Past Earnings Growth
  • The earnings for Ghanaian listed companies have grown 30% per year over the last three years.
  • Revenues for these companies have grown 28% 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 Market0.013%
Financials0.084%
Energy0%0
Materials0%0
Industrials0%0
Consumer Discretionary0%0
Healthcare0%0
Tech0%0
Telecom0%0
Consumer Staples-0.12%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth even though it's trading below its 3-year average PE ratio of 13.4x.
    • 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 Telecom sector, expecting annual earnings growth of 18% over the next 5 years.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Telecom sector is expected to see its earnings grow by 18% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
SOGEGH Societe Generale GhanaGH₵2.063.0%
+GH₵42.5m
32.9%PB0.6xFinancials
See more

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