Analysis Article • Aug 07
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Croatian (CROBEX) Market Analysis & Valuation
UpdatedAug 27, 2026
DataAggregated Company Financials
Companies57
- 7D-0.7%
- 3M3.8%
- 1Y9.5%
- YTD6.4%
The market has been flat over the last week. More promisingly, the market is up 9.5% over the past year. As for the next few years, earnings are expected to grow by 5.5% per annum.
Market Valuation and Performance
Has the Croatian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 27 Aug 2026 | Kn36.0b | Kn19.3b | Kn2.0b | 18.9x | 18.2x | 1.9x |
| Sat, 25 Jul 2026 | Kn36.4b | Kn18.4b | Kn1.8b | 17.1x | 20x | 2x |
| Mon, 22 Jun 2026 | Kn36.7b | Kn18.4b | Kn1.8b | 18.1x | 20.1x | 2x |
| Wed, 20 May 2026 | Kn34.0b | Kn18.5b | Kn1.8b | 16.1x | 18.5x | 1.8x |
| Fri, 17 Apr 2026 | Kn33.6b | Kn18.3b | Kn2.0b | 14.9x | 16.9x | 1.8x |
| Sun, 15 Mar 2026 | Kn33.9b | Kn19.3b | Kn2.0b | 15.1x | 16.7x | 1.8x |
| Tue, 10 Feb 2026 | Kn34.4b | Kn18.9b | Kn2.0b | 15.8x | 17.5x | 1.8x |
| Thu, 08 Jan 2026 | Kn33.5b | Kn18.8b | Kn1.9b | 15.3x | 17.3x | 1.8x |
| Sat, 06 Dec 2025 | Kn33.6b | Kn18.8b | Kn1.9b | 16.3x | 17.3x | 1.8x |
| Mon, 03 Nov 2025 | Kn33.6b | Kn18.6b | Kn2.0b | 14.9x | 17.2x | 1.8x |
| Wed, 01 Oct 2025 | Kn33.6b | Kn18.1b | Kn2.0b | 14.9x | 17.1x | 1.9x |
| Fri, 29 Aug 2025 | Kn32.8b | Kn17.9b | Kn1.9b | 14.8x | 16.8x | 1.8x |
| Sun, 27 Jul 2025 | Kn32.7b | Kn17.5b | Kn1.9b | 16.8x | 17.2x | 1.9x |
| Tue, 24 Jun 2025 | Kn30.7b | Kn17.4b | Kn1.9b | 15.4x | 16.2x | 1.8x |
| Thu, 22 May 2025 | Kn30.5b | Kn17.5b | Kn1.9b | 14.8x | 16.3x | 1.7x |
| Sat, 19 Apr 2025 | Kn29.3b | Kn17.0b | Kn1.8b | 14.5x | 16.6x | 1.7x |
| Mon, 17 Mar 2025 | Kn30.2b | Kn17.1b | Kn1.8b | 15x | 17.1x | 1.8x |
| Wed, 12 Feb 2025 | Kn30.1b | Kn16.6b | Kn1.8b | 15.3x | 16.7x | 1.8x |
| Fri, 10 Jan 2025 | Kn29.7b | Kn16.7b | Kn1.8b | 15.2x | 16.5x | 1.8x |
| Sun, 08 Dec 2024 | Kn28.4b | Kn16.7b | Kn1.8b | 14.8x | 15.8x | 1.7x |
| Tue, 05 Nov 2024 | Kn26.2b | Kn16.6b | Kn1.8b | 15.6x | 15x | 1.6x |
| Thu, 03 Oct 2024 | Kn25.8b | Kn16.5b | Kn1.7b | 18.1x | 15.4x | 1.6x |
| Sat, 31 Aug 2024 | Kn25.6b | Kn16.4b | Kn1.7b | 18.2x | 15.2x | 1.6x |
| Mon, 29 Jul 2024 | Kn24.8b | Kn16.3b | Kn1.7b | 15.3x | 14.4x | 1.5x |
| Wed, 26 Jun 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 14.7x | 14.6x | 1.5x |
| Fri, 24 May 2024 | Kn24.6b | Kn16.1b | Kn1.7b | 14.7x | 14.5x | 1.5x |
| Sun, 21 Apr 2024 | Kn24.5b | Kn16.0b | Kn1.6b | 15.1x | 15x | 1.5x |
| Tue, 19 Mar 2024 | Kn24.2b | Kn16.0b | Kn1.6b | 15x | 14.8x | 1.5x |
| Thu, 15 Feb 2024 | Kn24.4b | Kn15.4b | Kn1.2b | 15.5x | 19.6x | 1.6x |
| Sat, 13 Jan 2024 | Kn25.0b | Kn18.0b | Kn1.4b | 16x | 17.9x | 1.4x |
| Mon, 11 Dec 2023 | Kn23.5b | Kn17.9b | Kn1.4b | 15.4x | 16.8x | 1.3x |
| Wed, 08 Nov 2023 | Kn22.9b | Kn17.9b | Kn1.4b | 14.3x | 16.3x | 1.3x |
| Fri, 06 Oct 2023 | Kn22.5b | Kn17.3b | Kn1.3b | 16.3x | 16.7x | 1.3x |
| Sun, 03 Sep 2023 | Kn22.8b | Kn17.3b | Kn1.3b | 16.4x | 17.1x | 1.3x |
Price to Earnings Ratio
17.1x
Current Market PE
- Investors are relatively neutral on the Croatian 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 16.7x.
Past Earnings Growth
- The earnings for Croatian listed companies have grown 14% per year over the last three years.
- Revenues for these companies have grown 3.7% 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 Croatian Market?
| HR Market | -0.74% | |
| Consumer Staples | 1.59% | |
| Tech | 0.46% | |
| Consumer Discretionary | 0.30% | |
| Real Estate | 0% | 0 |
| Materials | 0% | 0 |
| Healthcare | 0% | 0 |
| Telecom | 0% | 0 |
| Utilities | 0% | 0 |
| Financials | -0.36% | |
| Industrials | -1.62% | |
| Energy | -2.00% | |
Sector PE
- Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 19.3x.
- Analysts are expecting annual earnings growth of 4.6%, which is lower than the prior year's growth of 12.4% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 12.2x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 9.8% over the next 5 years.
- However this is lower than its past earnings growth rate of 14% per year.
- In contrast, the Industrials sector is expected to see its earnings grow by 4.6% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| DDJH Ðuro Ðakovic Grupa d.d | €47.00 | 4.4% +€56.6m | -6.0% | PE201.1x | Industrials | |
| MAIS Maistra d.d | €68.50 | 3.8% +€27.4m | 14.2% | PE23.3x | Consumer Discretionary | |
| ZITO ZITO d.d | €18.50 | 3.9% +€17.8m | -9.8% | PE18.2x | Consumer Staples | |
| PODR Podravka d.d | €155.00 | 1.0% +€10.6m | 6.2% | PE11.3x | Consumer Staples | |
| RIVP Valamar Riviera d.d | €8.64 | 0.9% +€9.8m | 35.4% | PE41.4x | Consumer Discretionary |