Analysis Article • May 13
Have your own idea? Try our Stock Screener
Croatian (CROBEX) Market Analysis & Valuation
UpdatedMay 14, 2026
DataAggregated Company Financials
Companies59
- 7D-1.1%
- 3M-1.0%
- 1Y10.3%
- YTD1.9%
Over the last 7 days, the market has dropped 1.1%, driven by a decline of 1.6% in the Energy sector. As for the longer term, the market has actually risen by 10% in the last year. Earnings are forecast to grow by 5.3% annually.
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, 14 May 2026 | Kn34.2b | Kn18.3b | Kn1.9b | 15.5x | 18.1x | 1.9x |
| Sat, 11 Apr 2026 | Kn33.9b | Kn19.3b | Kn2.0b | 14.8x | 16.8x | 1.8x |
| Mon, 09 Mar 2026 | Kn33.3b | Kn19.0b | Kn2.0b | 14.7x | 16.5x | 1.7x |
| Wed, 04 Feb 2026 | Kn34.5b | Kn18.9b | Kn1.9b | 15.6x | 17.8x | 1.8x |
| Fri, 02 Jan 2026 | Kn33.6b | Kn18.9b | Kn1.9b | 15.2x | 17.4x | 1.8x |
| Sun, 30 Nov 2025 | Kn33.2b | Kn18.8b | Kn1.9b | 16x | 17.1x | 1.8x |
| Tue, 28 Oct 2025 | Kn33.5b | Kn18.2b | Kn2.0b | 15.4x | 16.9x | 1.8x |
| Thu, 25 Sep 2025 | Kn33.4b | Kn18.1b | Kn2.0b | 14.6x | 17x | 1.8x |
| Sat, 23 Aug 2025 | Kn32.8b | Kn17.9b | Kn1.9b | 14.8x | 16.8x | 1.8x |
| Mon, 21 Jul 2025 | Kn32.3b | Kn17.4b | Kn1.9b | 16x | 17x | 1.9x |
| Wed, 18 Jun 2025 | Kn30.7b | Kn17.4b | Kn1.9b | 15.6x | 16.2x | 1.8x |
| Fri, 16 May 2025 | Kn31.0b | Kn17.5b | Kn1.9b | 15.2x | 16.6x | 1.8x |
| Sun, 13 Apr 2025 | Kn30.2b | Kn17.0b | Kn1.8b | 14.7x | 17.2x | 1.8x |
| Tue, 11 Mar 2025 | Kn29.9b | Kn17.1b | Kn1.8b | 14.5x | 16.9x | 1.7x |
| Thu, 06 Feb 2025 | Kn30.4b | Kn16.6b | Kn1.8b | 15.6x | 16.9x | 1.8x |
| Sat, 04 Jan 2025 | Kn28.9b | Kn16.7b | Kn1.8b | 14.8x | 16.1x | 1.7x |
| Mon, 02 Dec 2024 | Kn28.1b | Kn16.7b | Kn1.8b | 15.2x | 15.7x | 1.7x |
| Wed, 30 Oct 2024 | Kn26.2b | Kn16.4b | Kn1.7b | 17.3x | 15.5x | 1.6x |
| Fri, 27 Sep 2024 | Kn25.8b | Kn16.5b | Kn1.7b | 18x | 15.4x | 1.6x |
| Sun, 25 Aug 2024 | Kn25.5b | Kn16.4b | Kn1.7b | 18.2x | 15.2x | 1.6x |
| Tue, 23 Jul 2024 | Kn24.8b | Kn16.1b | Kn1.7b | 15.6x | 14.8x | 1.5x |
| Thu, 20 Jun 2024 | Kn24.8b | Kn16.1b | Kn1.7b | 14.7x | 14.8x | 1.5x |
| Sat, 18 May 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 14.7x | 14.4x | 1.5x |
| Mon, 15 Apr 2024 | Kn25.1b | Kn16.0b | Kn1.6b | 15.2x | 15.3x | 1.6x |
| Wed, 13 Mar 2024 | Kn24.2b | Kn16.0b | Kn1.6b | 15.3x | 14.8x | 1.5x |
| Fri, 09 Feb 2024 | Kn24.2b | Kn15.4b | Kn1.2b | 15.6x | 19.4x | 1.6x |
| Sun, 07 Jan 2024 | Kn24.7b | Kn18.0b | Kn1.4b | 15.8x | 17.7x | 1.4x |
| Tue, 05 Dec 2023 | Kn23.6b | Kn17.9b | Kn1.4b | 15.5x | 16.9x | 1.3x |
| Thu, 02 Nov 2023 | Kn22.6b | Kn17.5b | Kn1.4b | 15.3x | 15.9x | 1.3x |
| Sat, 30 Sep 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 16.3x | 16.8x | 1.3x |
| Mon, 28 Aug 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 16.1x | 16.8x | 1.3x |
| Wed, 26 Jul 2023 | Kn21.8b | Kn17.1b | Kn1.4b | 18.9x | 15.9x | 1.3x |
| Fri, 23 Jun 2023 | Kn21.8b | Kn17.2b | Kn1.3b | 17.9x | 16.3x | 1.3x |
| Sun, 21 May 2023 | Kn21.0b | Kn16.8b | Kn1.3b | 17.7x | 15.6x | 1.2x |
Price to Earnings Ratio
15.6x
Current Market PE
- Investors are optimistic on the Croatian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 18.1x which is higher than its 3-year average PE of 16.4x.
Past Earnings Growth
- The earnings for Croatian listed companies have grown 12% per year over the last three years.
- Revenues for these companies have grown 2.8% 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 | -1.11% | |
| Industrials | 0.71% | |
| Consumer Discretionary | 0.63% | |
| Tech | 0.30% | |
| Real Estate | 0% | 0 |
| Materials | 0% | 0 |
| Healthcare | 0% | 0 |
| Utilities | 0% | 0 |
| Consumer Staples | -0.014% | |
| Telecom | -0.48% | |
| Energy | -1.63% | |
| Financials | -3.78% | |
Sector PE
- Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 27.4x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 11.9x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 7.5% over the next 5 years.
- However this is lower than its past earnings growth rate of 22% per year.
- In contrast, the Consumer Staples industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|---|
| KOEI KONCAR - Elektroindustrija d.d | €876.00 | 4.8% +€101.9m | 65.9% | PE14.7x | Industrials | |
| RIVP Valamar Riviera d.d | €7.10 | 4.7% +€39.1m | 18.7% | PE25.6x | Consumer Discretionary | |
| DDJH Ðuro Ðakovic Grupa d.d | €51.00 | 1.0% +€14.2m | 16.4% | PE204.3x | Industrials | |
| ATGR Atlantic Grupa d.d | €51.50 | 1.0% +€6.6m | 19.2% | PE18.6x | Consumer Staples | |
| ZITO Zito d.o.o | €19.80 | 1.0% +€5.1m | n/a | PE15.2x | Consumer Staples |