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Croatian (CROBEX) Market Analysis & Valuation

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies56
  • 7D2.8%
  • 3M4.8%
  • 1Y15.5%
  • YTD6.1%

The market has climbed 1.8% in the last 7 days, lead by the Financials sector with a gain of 7.5%. In the last year, the market has climbed 15%. Looking forward, earnings are forecast to grow by 6.0% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Jun 2026Kn35.7bKn18.4bKn1.8b17.7x19.6x1.9x
Thu, 14 May 2026Kn34.2bKn18.3bKn1.9b15.5x18.1x1.9x
Sat, 11 Apr 2026Kn33.9bKn19.3bKn2.0b14.8x16.8x1.8x
Mon, 09 Mar 2026Kn33.3bKn19.0bKn2.0b14.7x16.5x1.7x
Wed, 04 Feb 2026Kn34.5bKn18.9bKn1.9b15.6x17.8x1.8x
Fri, 02 Jan 2026Kn33.6bKn18.9bKn1.9b15.2x17.4x1.8x
Sun, 30 Nov 2025Kn33.2bKn18.8bKn1.9b16x17.1x1.8x
Tue, 28 Oct 2025Kn33.5bKn18.2bKn2.0b15.4x16.9x1.8x
Thu, 25 Sep 2025Kn33.4bKn18.1bKn2.0b14.6x17x1.8x
Sat, 23 Aug 2025Kn32.8bKn17.9bKn1.9b14.8x16.8x1.8x
Mon, 21 Jul 2025Kn32.3bKn17.4bKn1.9b16x17x1.9x
Wed, 18 Jun 2025Kn30.7bKn17.4bKn1.9b15.6x16.2x1.8x
Fri, 16 May 2025Kn31.0bKn17.5bKn1.9b15.2x16.6x1.8x
Sun, 13 Apr 2025Kn30.2bKn17.0bKn1.8b14.7x17.2x1.8x
Tue, 11 Mar 2025Kn29.9bKn17.1bKn1.8b14.5x16.9x1.7x
Thu, 06 Feb 2025Kn30.4bKn16.6bKn1.8b15.6x16.9x1.8x
Sat, 04 Jan 2025Kn28.9bKn16.7bKn1.8b14.8x16.1x1.7x
Mon, 02 Dec 2024Kn28.1bKn16.7bKn1.8b15.2x15.7x1.7x
Wed, 30 Oct 2024Kn26.2bKn16.4bKn1.7b17.3x15.5x1.6x
Fri, 27 Sep 2024Kn25.8bKn16.5bKn1.7b18x15.4x1.6x
Sun, 25 Aug 2024Kn25.5bKn16.4bKn1.7b18.2x15.2x1.6x
Tue, 23 Jul 2024Kn24.8bKn16.1bKn1.7b15.6x14.8x1.5x
Thu, 20 Jun 2024Kn24.8bKn16.1bKn1.7b14.7x14.8x1.5x
Sat, 18 May 2024Kn24.5bKn16.1bKn1.7b14.7x14.4x1.5x
Mon, 15 Apr 2024Kn25.1bKn16.0bKn1.6b15.2x15.3x1.6x
Wed, 13 Mar 2024Kn24.2bKn16.0bKn1.6b15.3x14.8x1.5x
Fri, 09 Feb 2024Kn24.2bKn15.4bKn1.2b15.6x19.4x1.6x
Sun, 07 Jan 2024Kn24.7bKn18.0bKn1.4b15.8x17.7x1.4x
Tue, 05 Dec 2023Kn23.6bKn17.9bKn1.4b15.5x16.9x1.3x
Thu, 02 Nov 2023Kn22.6bKn17.5bKn1.4b15.3x15.9x1.3x
Sat, 30 Sep 2023Kn22.6bKn17.3bKn1.3b16.3x16.8x1.3x
Mon, 28 Aug 2023Kn22.6bKn17.3bKn1.3b16.1x16.8x1.3x
Wed, 26 Jul 2023Kn21.8bKn17.1bKn1.4b18.9x15.9x1.3x
Fri, 23 Jun 2023Kn21.8bKn17.2bKn1.3b17.9x16.3x1.3x
Price to Earnings Ratio

16.3x


Total Market Cap: Kn21.8bTotal Earnings: Kn1.3bTotal Revenue: Kn17.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Croatian Market Price to Earnings3Y Average 16.5x202420252026
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 19.5x which is higher than its 3-year average PE of 16.5x.
Past Earnings Growth
  • The earnings for Croatian listed companies have grown 11% per year over the last three years.
  • Revenues for these companies have grown 2.3% 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 Market2.76%
Financials7.66%
Consumer Discretionary1.81%
Industrials1.59%
Telecom1.53%
Consumer Staples0.86%
Energy0%0
Real Estate0%0
Materials0%0
Healthcare0%0
Utilities0%0
Tech-5.10%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 27.6x.
    • 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. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 12.0x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 6.9% over the next 5 years.
  • However this is lower than its past earnings growth rate of 22% per year.
  • In contrast, the Consumer Staples 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?

CompanyLast Price7D1YValuationSector
ZABA Zagrebacka banka d.d€22.909.0%
+€608.4m		-5.0%PB2.7xFinancials
ADRS Adris grupa d. d€143.009.2%
+€190.6m		50.5%PE28.3xIndustrials
KOEI KONCAR - Elektroindustrija d.d€1.06k4.1%
+€107.0m		109.1%PE17.8xIndustrials
CROS Croatia osiguranje d.d€3.32k3.8%
+€50.5m		44.3%PE21xFinancials
HT Hrvatski Telekom d.d€39.801.5%
+€45.8m		-4.1%PE20.8xTelecom
See more

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ADRS
€143.00
Adris grupa d. d
7D
9.2%
1Y
50.5%
ERNT
€200.00
Ericsson Nikola Tesla d.d
7D
-7.8%
1Y
2.3%
DDJH
€45.80
Ðuro Ðakovic Grupa d.d
7D
-6.5%
1Y
8.5%
KOEI
€1,062.00
KONCAR - Elektroindustrija d.d
7D
4.1%
1Y
109.1%
ZABA
€22.90
Zagrebacka banka d.d
7D
9.0%
1Y
-5.0%
HT
€39.80
Hrvatski Telekom d.d
7D
1.5%
1Y
-4.1%
DLKV
€14.60
Dalekovod d.d
7D
3.9%
1Y
147.5%
BSQR
€30.00
BOSQAR d.d
7D
-1.3%
1Y
27.1%
KODT
€4,220.00
Koncar - distributivni i specijalni transformatori d.d
7D
-2.5%
1Y
40.2%
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Zito d.o.o
7D
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1Y
n/a
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CTKS
€100.00
Cateks d.d
7D
-6.5%
1Y
132.6%
LKRI
€18.20
Luka Rijeka d.d
7D
-1.6%
1Y
109.2%
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RIVP
€8.68
Valamar Riviera d.d
7D
2.6%
1Y
42.8%
HPB
€306.00
Hrvatska postanska banka d.d
7D
3.4%
1Y
11.7%
AUHR
€210.00
Auto Hrvatska d.d
7D
-3.7%
1Y
-0.9%
CROS
€3,320.00
Croatia osiguranje d.d
7D
3.8%
1Y
44.3%
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With EPS Growth And More, Croatia osiguranje d.d (ZGSE:CROS) Makes An Interesting Case

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