AD Plastik d.d (ZGSE:ADPL) Seems To Use Debt Quite Sensibly
Feb 05
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Croatian (CROBEX) Market Analysis & Valuation
UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies61
- 7D0.8%
- 3M4.3%
- 1Y12.2%
- YTD2.4%
Over the last 7 days, the market has risen 1.0%, driven by gains in the Financials and Energy sectors of 1.8% and 2.7%, respectively. The market is up 14% over the last 12 months. As for the next few years, earnings are expected to grow by 8.7% 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 |
|---|---|---|---|---|---|---|
| Mon, 09 Feb 2026 | Kn34.6b | Kn18.9b | Kn2.0b | 15.5x | 17.6x | 1.8x |
| Wed, 07 Jan 2026 | Kn33.4b | Kn18.8b | Kn1.9b | 15.2x | 17.3x | 1.8x |
| Fri, 05 Dec 2025 | Kn33.4b | Kn18.8b | Kn1.9b | 15.9x | 17.3x | 1.8x |
| Sun, 02 Nov 2025 | Kn33.6b | Kn18.6b | Kn1.9b | 14.9x | 17.2x | 1.8x |
| Tue, 30 Sep 2025 | Kn33.5b | Kn18.1b | Kn2.0b | 14.9x | 17x | 1.9x |
| Thu, 28 Aug 2025 | Kn32.7b | Kn17.9b | Kn1.9b | 14.8x | 16.8x | 1.8x |
| Sat, 26 Jul 2025 | Kn32.7b | Kn17.5b | Kn1.9b | 16.8x | 17.1x | 1.9x |
| Mon, 23 Jun 2025 | Kn31.1b | Kn17.4b | Kn1.9b | 15.4x | 16.4x | 1.8x |
| Wed, 21 May 2025 | Kn30.5b | Kn17.5b | Kn1.9b | 15.2x | 16.3x | 1.7x |
| Fri, 18 Apr 2025 | Kn29.3b | Kn17.0b | Kn1.8b | 14.5x | 16.6x | 1.7x |
| Sun, 16 Mar 2025 | Kn30.2b | Kn17.1b | Kn1.8b | 15x | 17.1x | 1.8x |
| Tue, 11 Feb 2025 | Kn30.2b | Kn16.6b | Kn1.8b | 15x | 16.7x | 1.8x |
| Thu, 09 Jan 2025 | Kn29.4b | Kn16.7b | Kn1.8b | 15.2x | 16.3x | 1.8x |
| Sat, 07 Dec 2024 | Kn28.4b | Kn16.7b | Kn1.8b | 14.8x | 15.8x | 1.7x |
| Mon, 04 Nov 2024 | Kn26.5b | Kn16.6b | Kn1.8b | 15.7x | 15.1x | 1.6x |
| Wed, 02 Oct 2024 | Kn25.8b | Kn16.5b | Kn1.7b | 18.1x | 15.4x | 1.6x |
| Fri, 30 Aug 2024 | Kn25.6b | Kn16.4b | Kn1.7b | 18.1x | 15.2x | 1.6x |
| Sun, 28 Jul 2024 | Kn24.8b | Kn16.3b | Kn1.7b | 15.3x | 14.4x | 1.5x |
| Tue, 25 Jun 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 14.7x | 14.6x | 1.5x |
| Thu, 23 May 2024 | Kn24.6b | Kn16.1b | Kn1.7b | 14.8x | 14.5x | 1.5x |
| Sat, 20 Apr 2024 | Kn24.5b | Kn16.0b | Kn1.6b | 15.2x | 15x | 1.5x |
| Mon, 18 Mar 2024 | Kn24.3b | Kn16.0b | Kn1.6b | 15x | 14.9x | 1.5x |
| Wed, 14 Feb 2024 | Kn24.4b | Kn15.4b | Kn1.2b | 15.5x | 19.6x | 1.6x |
| Fri, 12 Jan 2024 | Kn25.0b | Kn18.0b | Kn1.4b | 16.5x | 17.9x | 1.4x |
| Sun, 10 Dec 2023 | Kn23.5b | Kn17.9b | Kn1.4b | 15.4x | 16.8x | 1.3x |
| Tue, 07 Nov 2023 | Kn22.7b | Kn17.9b | Kn1.4b | 14.2x | 16.2x | 1.3x |
| Thu, 05 Oct 2023 | Kn22.8b | Kn17.3b | Kn1.3b | 16.3x | 16.9x | 1.3x |
| Sat, 02 Sep 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 16.4x | 16.8x | 1.3x |
| Mon, 31 Jul 2023 | Kn21.9b | Kn17.3b | Kn1.3b | 18.8x | 16.3x | 1.3x |
| Wed, 28 Jun 2023 | Kn21.7b | Kn17.1b | Kn1.3b | 17.8x | 16.1x | 1.3x |
| Fri, 26 May 2023 | Kn21.2b | Kn16.8b | Kn1.3b | 18.1x | 15.9x | 1.3x |
| Sun, 23 Apr 2023 | Kn20.3b | Kn16.0b | Kn1.2b | 17.2x | 16.4x | 1.3x |
| Tue, 21 Mar 2023 | Kn20.6b | Kn16.4b | Kn1.3b | 17x | 15.9x | 1.3x |
| Thu, 16 Feb 2023 | Kn19.9b | Kn15.8b | Kn1.5b | 15.6x | 13x | 1.3x |
Price to Earnings Ratio
13x
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 16.3x.
Past Earnings Growth
- The earnings for Croatian listed companies have grown 8.3% per year over the last three years.
- Revenues for these companies have grown 6.1% 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 | 0.82% | |
| Financials | 2.48% | |
| Energy | 0.95% | |
| Consumer Staples | 0.49% | |
| Telecom | 0.49% | |
| Consumer Discretionary | 0.19% | |
| Real Estate | 0% | 0 |
| Materials | 0% | 0 |
| Utilities | 0% | 0 |
| Tech | -0.28% | |
| Industrials | -0.48% | |
| Healthcare | -1.67% | |
Sector PE
- Investors favour the Energy sector the most for future growth, which is trading close to its 3-year average PE ratio of 26.6x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
- The Healthcare sector is the least preferred by investors for future growth, which is trading below its 3-year average of 8.8x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Staples sector, expecting annual earnings growth of 37% over the next 5 years.
- This is better than its past earnings decline of 53% per year.
- In contrast, the Tech 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 | |
|---|---|---|---|---|---|---|
| ZABA Zagrebacka banka d.d | €24.50 | 2.1% +€160.1m | -12.5% | PB2.6x | Financials | |
| KOEI KONCAR - Elektroindustrija d.d | €820.00 | 4.9% +€96.8m | 51.9% | PE14.5x | Industrials | |
| INA INA-Industrija nafte d.d | €505.00 | 1.0% +€50.0m | 8.8% | PE32.1x | Energy | |
| HT Hrvatski Telekom d.d | €41.30 | 0.5% +€15.0m | -2.6% | PE21.1x | Telecom | |
| ADPL AD Plastik d.d | €22.70 | 16.7% +€13.5m | 106.4% | PE8.7x | Consumer Discretionary |
