Croatian (CROBEX) Market Analysis & Valuation

UpdatedJun 08, 2023

DataAggregated Company Financials

Companies84

7D1.9%
3M2.9%
1Y10.7%
YTD13.0%

The market is up 1.9% over the last week, with the Energy sector leading the way, up 5.4%. The market is up 11% over the last 12 months. Looking forward, earnings are forecast to grow by 8.4% 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, 08 Jun 2023	Kn21.7b	Kn17.2b	Kn1.3b	17.7x	16.2x	1.3x
Sat, 06 May 2023	Kn20.5b	Kn16.3b	Kn1.2b	16.2x	17.4x	1.3x
Mon, 03 Apr 2023	Kn20.7b	Kn16.2b	Kn1.3b	16.3x	16.5x	1.3x
Wed, 01 Mar 2023	Kn20.7b	Kn16.1b	Kn1.4b	16.1x	15.1x	1.3x
Fri, 27 Jan 2023	Kn19.6b	Kn15.6b	Kn1.5b	15.4x	13x	1.3x
Sun, 25 Dec 2022	Kn134.0b	Kn107.0b	Kn11.5b	13.8x	11.7x	1.3x
Tue, 22 Nov 2022	Kn132.4b	Kn107.0b	Kn11.5b	13.3x	11.5x	1.2x
Thu, 20 Oct 2022	Kn132.2b	Kn97.4b	Kn9.9b	14.8x	13.4x	1.4x
Sat, 17 Sep 2022	Kn133.8b	Kn97.1b	Kn9.8b	14.7x	13.7x	1.4x
Mon, 15 Aug 2022	Kn135.4b	Kn97.1b	Kn9.8b	14.8x	13.8x	1.4x
Wed, 13 Jul 2022	Kn134.6b	Kn90.1b	Kn8.0b	14.5x	16.9x	1.5x
Fri, 10 Jun 2022	Kn138.9b	Kn90.8b	Kn8.0b	15.5x	17.3x	1.5x
Sun, 08 May 2022	Kn137.7b	Kn90.8b	Kn8.0b	16.4x	17.1x	1.5x
Tue, 05 Apr 2022	Kn139.3b	Kn89.8b	Kn7.1b	17.6x	19.5x	1.6x
Thu, 03 Mar 2022	Kn135.3b	Kn88.2b	Kn7.0b	15.4x	19.3x	1.5x
Sat, 29 Jan 2022	Kn138.9b	Kn84.6b	Kn6.6b	13.6x	21.2x	1.6x
Mon, 27 Dec 2021	Kn136.7b	Kn84.2b	Kn6.6b	12.9x	20.8x	1.6x
Wed, 24 Nov 2021	Kn135.6b	Kn84.2b	Kn6.6b	12.4x	20.6x	1.6x
Fri, 22 Oct 2021	Kn135.4b	Kn77.7b	Kn3.7b	17.2x	36.8x	1.7x
Sun, 19 Sep 2021	Kn131.8b	Kn77.4b	Kn3.6b	16.5x	36.1x	1.7x
Tue, 17 Aug 2021	Kn133.2b	Kn77.8b	Kn3.3b	14.3x	40.2x	1.7x
Tue, 01 Jun 2021	Kn130.0b	Kn72.9b	Kn2.2b	15.2x	59.4x	1.8x
Fri, 05 Mar 2021	Kn120.6b	Kn73.3b	Kn1.4b	13.2x	88.1x	1.6x
Mon, 07 Dec 2020	Kn115.0b	Kn75.9b	Kn1.1b	13.4x	101.8x	1.5x
Thu, 10 Sep 2020	Kn111.5b	Kn81.6b	Kn3.6b	12.9x	31x	1.4x

Price to Earnings Ratio

30.9x

Mon, 06 Jul 2020

Current Market PE

Investors are pessimistic on the Croatian market, indicating that they anticipate earnings will not grow as fast as they have historically.

The market is trading at a PE ratio of 16.2x which is lower than its 3-year average PE of 36.9x.

Past Earnings Growth

The earnings for companies in the Croatian industry have declined 28% per year over the last three years.
Revenues have also declined 40% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Croatian Market?


HR Market	1.91%
Energy	5.41%
Tech	2.60%
Industrials	1.09%
Healthcare	1.00%
Consumer Discretionary	0.99%
Financials	0.68%
Real Estate	0%
Materials	0%
Telecom	0%
Utilities	0%
Consumer Staples	-0.70%

Sector PE

The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 11.9x.

Forecasted Growth

Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 35% over the next 5 years.
However this is lower than its past earnings growth rate of 70% per year.

In contrast, the Industrials sector is expected to see its earnings decline by 27% 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
INA INA-Industrija nafte d.d	€500.00	7.3% +€340.0m	7.5%	PE33.8x	Energy
PLAG Plava laguna d.d	€298.00	2.8% +€17.6m	35.0%	PE9.9x	Consumer Discretionary
ZABA Zagrebacka banka d.d	€11.75	0.4% +€16.0m	35.1%	PB1.3x	Financials
ADRS Adris grupa d. d	€67.00	1.5% +€15.7m	9.6%	PE19.4x	Industrials
HPB Hrvatska postanska banka d.d	€144.00	5.1% +€14.2m	17.2%	PB0.6x	Financials