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Ghanaian (GSE) Financials Sector Analysis

UpdatedOct 03, 2023
DataAggregated Company Financials
  • 7D0.7%
  • 3M13.3%
  • 1Y-12.3%
  • YTD-8.7%

Over the last 7 days, the Financials industry has remained flat, although notably Ecobank Ghana gained 4.9%. As for the longer term, the industry has declined 12% in the last year.

Sector Valuation and Performance

Has the Ghanaian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Oct 2023GH₵9.5bGH₵6.0b-GH₵1,086,091,414.003x-8.7x1.6x
Thu, 31 Aug 2023GH₵8.3bGH₵6.0b-GH₵1,086,091,414.003x-7.7x1.4x
Sat, 29 Jul 2023GH₵8.4bGH₵5.2b-GH₵1,284,172,442.002.7x-6.5x1.6x
Mon, 26 Jun 2023GH₵8.3bGH₵5.4b-GH₵1,318,902,694.004x-6.3x1.5x
Wed, 24 May 2023GH₵8.3bGH₵8.9bGH₵1.7b4.8x4.8x0.9x
Fri, 21 Apr 2023GH₵9.0bGH₵10.6bGH₵2.7b4x3.4x0.9x
Sun, 19 Mar 2023GH₵9.6bGH₵10.8bGH₵2.8b2.5x3.5x0.9x
Tue, 14 Feb 2023GH₵10.3bGH₵10.8bGH₵2.8b3.3x3.7x1x
Thu, 12 Jan 2023GH₵10.7bGH₵10.7bGH₵2.8b3.7x3.9x1x
Sat, 10 Dec 2022GH₵10.9bGH₵10.7bGH₵2.8b3.7x3.9x1x
Mon, 07 Nov 2022GH₵10.9bGH₵10.9bGH₵2.8b3x3.8x1x
Wed, 05 Oct 2022GH₵10.9bGH₵10.7bGH₵2.9b3.1x3.7x1x
Fri, 02 Sep 2022GH₵10.9bGH₵10.7bGH₵2.9b3.4x3.7x1x
Sun, 31 Jul 2022GH₵11.0bGH₵8.3bGH₵2.8b3.6x3.9x1.3x
Tue, 28 Jun 2022GH₵11.3bGH₵10.0bGH₵2.7b4.4x4.2x1.1x
Thu, 26 May 2022GH₵11.4bGH₵9.8bGH₵2.7b4.4x4.2x1.2x
Sat, 23 Apr 2022GH₵11.3bGH₵9.5bGH₵2.6b4.2x4.3x1.2x
Mon, 21 Mar 2022GH₵11.3bGH₵9.4bGH₵2.6b4.6x4.4x1.2x
Wed, 16 Feb 2022GH₵9.5bGH₵8.5bGH₵2.5b4.9x3.8x1.1x
Fri, 14 Jan 2022GH₵9.6bGH₵8.4bGH₵2.5b4.5x3.9x1.1x
Sun, 12 Dec 2021GH₵9.6bGH₵8.4bGH₵2.5b4.6x3.9x1.1x
Tue, 09 Nov 2021GH₵9.7bGH₵8.3bGH₵2.5b4.9x3.9x1.2x
Thu, 07 Oct 2021GH₵9.5bGH₵7.9bGH₵2.4b4.6x3.9x1.2x
Sat, 04 Sep 2021GH₵10.6bGH₵8.6bGH₵2.5b4.3x4.2x1.2x
Mon, 02 Aug 2021GH₵10.4bGH₵8.6bGH₵2.5b3.8x4.1x1.2x
Thu, 06 May 2021GH₵9.9bGH₵8.2bGH₵2.4b3.8x4.1x1.2x
Sun, 07 Feb 2021GH₵9.7bGH₵7.9bGH₵2.3b3.7x4.2x1.2x
Sat, 31 Oct 2020GH₵8.6bGH₵7.6bGH₵2.2b3.4x3.9x1.1x
Price to Earnings Ratio


Total Market Cap: GH₵8.8bTotal Earnings: GH₵2.2bTotal Revenue: GH₵7.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Ghanaian Financials Sector Price to Earnings3Y Average 2.4x202120222023
Current Industry PE
  • Investors are optimistic on the Ghanaian Financials industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • Total earnings for the Financials industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 7.8% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the Ghanaian Financials sector?

GH Market-0.19%
Mortgage Finance0%
Mortgage REITs0%
Diversified Financial0%
Consumer Finance0%
Capital Markets0%
Industry PE
  • Investors are most optimistic about the Insurance industry even though it's trading below its 3-year average PE ratio of 4.1x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
EGH Ecobank GhanaGH₵4.304.9%
SCB Standard Chartered Bank GhanaGH₵19.480.2%
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Standard Chartered Bank Ghana







Ecobank Ghana