Croatian (CROBEX) Market Analysis & Valuation

UpdatedMay 24, 2022

DataAggregated Company Financials

Companies76

7D-0.8%
3M-2.2%
1Y2.6%
YTD-2.9%

Over the last 7 days, the market has remained flat, although notably the Industrials sector declined by 4.8%. In line with that, the market has also been flat over the past year. As for the next few years, earnings are expected to grow by 9.2% per annum.

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE
Wed, 25 May 2022	Kn137.2b	Kn90.8b	Kn8.0b	15.5x
Fri, 22 Apr 2022	Kn139.3b	Kn87.3b	Kn7.1b	18.2x
Sun, 20 Mar 2022	Kn138.8b	Kn89.4b	Kn7.2b	17.7x
Tue, 15 Feb 2022	Kn139.4b	Kn84.6b	Kn6.6b	14.2x
Thu, 13 Jan 2022	Kn140.4b	Kn84.6b	Kn6.6b	14.8x
Sat, 11 Dec 2021	Kn135.8b	Kn84.2b	Kn6.6b	12.5x
Mon, 08 Nov 2021	Kn133.4b	Kn81.6b	Kn4.9b	15.9x
Wed, 06 Oct 2021	Kn134.9b	Kn77.7b	Kn3.7b	17.2x
Fri, 03 Sep 2021	Kn132.3b	Kn77.8b	Kn3.3b	14.7x
Sun, 01 Aug 2021	Kn131.7b	Kn77.8b	Kn3.3b	14.2x
Wed, 05 May 2021	Kn128.6b	Kn72.9b	Kn2.2b	15x
Sat, 06 Feb 2021	Kn118.9b	Kn73.3b	Kn1.4b	13.2x
Tue, 10 Nov 2020	Kn110.7b	Kn75.9b	Kn1.1b	13.2x
Mon, 03 Aug 2020	Kn109.6b	Kn81.6b	Kn3.6b	12.4x
Thu, 07 May 2020	Kn110.3b	Kn89.1b	Kn5.1b	12.3x
Sun, 09 Feb 2020	Kn128.4b	Kn89.3b	Kn6.4b	15.3x
Sat, 02 Nov 2019	Kn125.5b	Kn88.0b	Kn6.5b	14.3x
Tue, 06 Aug 2019	Kn118.7b	Kn87.2b	Kn6.2b	12.8x

Median PE Ratio

12.9x

Sat, 01 Jun 2019

Current Market PE

Investors are relatively neutral on the 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 14.2x.

Past Earnings Growth

The earnings for Croatian listed companies have grown 5.4% per year over the last three years, while revenues have remained steady.
This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Croatian Market?


HR Market	-0.84%
Consumer Staples	0.96%
Financials	0.23%
Tech	0.15%
Real Estate	0%
Materials	0%
Utilities	0%
Energy	-0.24%
Telecom	-1.12%
Consumer Discretionary	-1.58%
Healthcare	-1.96%
Industrials	-4.78%

Sector PE

Investors are most optimistic about the Consumer Discretionary sector, which is trading close to its 3-year average PE ratio of 27.1x.
Analysts are expecting annual earnings growth of 36%, which is lower than the prior year's growth of 142% per year.
This could indicate that the market believes that analysts are underestimating future growth.
Investors are most pessimistic about the Healthcare sector, which is trading below its 3-year average of 8.4x.

Forecasted Growth

Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 36% over the next 5 years.
However this is lower than its past earnings growth rate of 142% per year.

In contrast, the Tech sector is expected to see its earnings decline by 9.0% 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
ZABA Zagrebacka banka d.d	Kn65.00	0.6% +Kn128.1m	10.5%	PB1x	Financials
PODR Podravka d.d	Kn606.00	1.7% +Kn70.2m	2.0%	PS14.5x	Consumer Staples
ATGR Atlantic Grupa d.d	Kn1.62k	1.3% +Kn66.4m	8.0%	PS15.3x	Consumer Staples
TPNG Tankerska Next Generation d.d	Kn52.40	4.4% +Kn19.2m	23.0%	PS1.6x	Industrials
HPB Hrvatska postanska banka d.d	Kn915.00	0.5% +Kn10.1m	81.2%	PB0.7x	Financials