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Ghanaian (GSE) Market Analysis & Valuation

UpdatedFeb 16, 2025
DataAggregated Company Financials
Companies25
  • 7D2.0%
  • 3M15.3%
  • 1Y72.4%
  • YTD8.7%

The market has climbed 2.0% in the last 7 days, lead by the Communication Services sector with a gain of 1.8%. The market is up 72% over the last 12 months.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Feb 2025GH₵55.5bGH₵64.0bGH₵9.5b3.9x5.9x0.9x
Tue, 14 Jan 2025GH₵51.3bGH₵63.4bGH₵9.4b3.7x5.4x0.8x
Thu, 12 Dec 2024GH₵48.9bGH₵63.4bGH₵9.4b3.7x5.2x0.8x
Sat, 09 Nov 2024GH₵48.4bGH₵62.9bGH₵9.4b3.5x5.2x0.8x
Mon, 07 Oct 2024GH₵44.0bGH₵59.8bGH₵9.4b3.5x4.7x0.7x
Wed, 04 Sep 2024GH₵44.1bGH₵59.7bGH₵9.5b3.2x4.6x0.7x
Fri, 02 Aug 2024GH₵45.4bGH₵60.1bGH₵9.2b6.7x4.9x0.8x
Sun, 30 Jun 2024GH₵40.0bGH₵59.9bGH₵8.7b3.3x4.6x0.7x
Tue, 28 May 2024GH₵39.0bGH₵59.8bGH₵8.7b3.2x4.5x0.7x
Thu, 25 Apr 2024GH₵36.4bGH₵58.6bGH₵7.9b3.1x4.6x0.6x
Sat, 23 Mar 2024GH₵36.7bGH₵53.8bGH₵5.4b5.5x6.8x0.7x
Mon, 19 Feb 2024GH₵31.5bGH₵52.7bGH₵3.2b6.3x9.7x0.6x
Wed, 17 Jan 2024GH₵31.2bGH₵52.6bGH₵3.2b5.2x9.8x0.6x
Fri, 15 Dec 2023GH₵31.2bGH₵52.6bGH₵3.2b5x9.8x0.6x
Sun, 12 Nov 2023GH₵31.9bGH₵51.8bGH₵2.5b4.8x12.5x0.6x
Tue, 10 Oct 2023GH₵31.2bGH₵50.6bGH₵2.2b5.5x14.2x0.6x
Thu, 07 Sep 2023GH₵30.2bGH₵49.7bGH₵2.3b5.4x13x0.6x
Sat, 05 Aug 2023GH₵30.9bGH₵49.5bGH₵2.4b4.4x13x0.6x
Mon, 03 Jul 2023GH₵27.6bGH₵48.8bGH₵2.0b5x13.7x0.6x
Wed, 31 May 2023GH₵24.4bGH₵52.2bGH₵4.9b4.7x5x0.5x
Fri, 28 Apr 2023GH₵27.3bGH₵48.3bGH₵5.9b5x4.6x0.6x
Sun, 26 Mar 2023GH₵28.0bGH₵48.5bGH₵6.0b5.2x4.7x0.6x
Tue, 21 Feb 2023GH₵23.9bGH₵47.8bGH₵5.8b4.9x4.1x0.5x
Thu, 19 Jan 2023GH₵24.1bGH₵43.3bGH₵5.8b4.6x4.1x0.6x
Sat, 17 Dec 2022GH₵24.2bGH₵43.2bGH₵5.9b5.4x4.1x0.6x
Mon, 14 Nov 2022GH₵24.3bGH₵38.9bGH₵5.6b4.4x4.3x0.6x
Wed, 12 Oct 2022GH₵24.4bGH₵38.9bGH₵5.7b4.4x4.3x0.6x
Fri, 09 Sep 2022GH₵24.9bGH₵38.9bGH₵5.6b4.6x4.4x0.6x
Sun, 07 Aug 2022GH₵23.6bGH₵38.3bGH₵5.4b4.4x4.4x0.6x
Tue, 05 Jul 2022GH₵25.2bGH₵33.6bGH₵5.2b4.9x4.8x0.8x
Thu, 02 Jun 2022GH₵25.2bGH₵33.4bGH₵5.3b4.9x4.8x0.8x
Sat, 30 Apr 2022GH₵26.6bGH₵31.2bGH₵5.2b5.5x5.1x0.9x
Mon, 28 Mar 2022GH₵27.3bGH₵30.4bGH₵4.9b6.3x5.5x0.9x
Wed, 23 Feb 2022GH₵27.1bGH₵29.5bGH₵4.7b5.9x5.7x0.9x
Price to Earnings Ratio

5.7x


Total Market Cap: GH₵27.1bTotal Earnings: GH₵4.7bTotal Revenue: GH₵29.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Ghanaian Market Price to Earnings3Y Average 6.6x202320242025
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 5.9x which is lower than its 3-year average PE of 6.6x.
Past Earnings Growth
  • The earnings for Ghanaian listed companies have grown 26% per year over the last three years.
  • Revenues for these companies have grown 29% 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 Market1.97%
Financials3.20%
Telecom1.82%
Consumer Staples0.81%
Energy0%0
Real Estate0%0
Materials0%0
Industrials0%0
Consumer Discretionary0%0
Healthcare0%0
Tech0%0
Utilities0%0
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 13.2x.
    • 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?

CompanyLast Price7D1YValuationSector
MTNGH ScancomGH₵2.801.8%
+GH₵661.8m
100.0%PE7.5xTelecom
SCB Standard Chartered Bank GhanaGH₵25.018.7%
+GH₵270.9m
42.7%PB1.6xFinancials
ACCESS Access Bank (Ghana)GH₵6.208.4%
+GH₵83.5m
67.6%PB0.6xFinancials
BOPP Benso Oil Palm PlantationGH₵26.253.9%
+GH₵34.5m
21.9%PE9.8xConsumer Staples
CAL CalBankGH₵0.447.3%
+GH₵18.8m
-12.0%PB1.2xFinancials
See more
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Latest News

CAL

GH₵0.44

CalBank

7D

7.3%

1Y

-12.0%

SIC

GH₵0.29

SIC Insurance

7D

7.4%

1Y

20.8%

SCB

GH₵25.01

Standard Chartered Bank Ghana

7D

8.7%

1Y

42.7%

BOPP

GH₵26.25

Benso Oil Palm Plantation

7D

3.9%

1Y

21.9%

MTNGH

GH₵2.80

Scancom

7D

1.8%

1Y

100.0%

GCB

GH₵6.44

GCB Bank

7D

0.2%

1Y

89.4%