Revenues Not Telling The Story For Dalekovod d.d. (ZGSE:DLKV) After Shares Rise 28%
Jan 15
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Croatian (CROBEX) Market Analysis & Valuation
UpdatedJan 20, 2025
DataAggregated Company Financials
Companies58
- 7D0.8%
- 3M20.0%
- 1Y26.9%
- YTD4.7%
Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. Meanwhile, the market is actually up 26% over the past year. Looking forward, earnings are forecast to grow by 7.4% 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 |
|---|---|---|---|---|---|---|
| Mon, 20 Jan 2025 | Kn30.3b | Kn16.7b | Kn1.8b | 15.2x | 16.8x | 1.8x |
| Wed, 18 Dec 2024 | Kn29.1b | Kn16.7b | Kn1.8b | 15.5x | 16.2x | 1.7x |
| Fri, 15 Nov 2024 | Kn27.4b | Kn16.6b | Kn1.8b | 15.7x | 15.3x | 1.7x |
| Sun, 13 Oct 2024 | Kn25.9b | Kn16.4b | Kn1.7b | 17.9x | 15.5x | 1.6x |
| Tue, 10 Sep 2024 | Kn25.6b | Kn16.4b | Kn1.7b | 18.3x | 15.3x | 1.6x |
| Thu, 08 Aug 2024 | Kn25.3b | Kn16.5b | Kn1.7b | 17.2x | 15.1x | 1.5x |
| Sat, 06 Jul 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 14.7x | 14.6x | 1.5x |
| Mon, 03 Jun 2024 | Kn24.7b | Kn16.1b | Kn1.7b | 14.7x | 14.7x | 1.5x |
| Wed, 01 May 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 15.4x | 14.4x | 1.5x |
| Fri, 29 Mar 2024 | Kn24.9b | Kn16.0b | Kn1.6b | 15x | 15.2x | 1.6x |
| Sun, 25 Feb 2024 | Kn24.9b | Kn15.4b | Kn1.5b | 15.1x | 16.6x | 1.6x |
| Tue, 23 Jan 2024 | Kn25.4b | Kn18.0b | Kn1.4b | 16x | 18.2x | 1.4x |
| Thu, 21 Dec 2023 | Kn24.2b | Kn17.9b | Kn1.4b | 15.4x | 17.3x | 1.4x |
| Sat, 18 Nov 2023 | Kn22.9b | Kn17.9b | Kn1.4b | 16x | 16.4x | 1.3x |
| Mon, 16 Oct 2023 | Kn22.3b | Kn17.3b | Kn1.3b | 16.3x | 16.5x | 1.3x |
| Wed, 13 Sep 2023 | Kn23.0b | Kn17.3b | Kn1.3b | 15.6x | 17.2x | 1.3x |
| Fri, 11 Aug 2023 | Kn22.3b | Kn17.2b | Kn1.3b | 18.7x | 16.8x | 1.3x |
| Sun, 09 Jul 2023 | Kn21.5b | Kn17.0b | Kn1.4b | 18.1x | 15.9x | 1.3x |
| Tue, 06 Jun 2023 | Kn21.3b | Kn17.2b | Kn1.3b | 17.8x | 15.9x | 1.2x |
| Thu, 04 May 2023 | Kn20.5b | Kn16.3b | Kn1.2b | 16.6x | 17.6x | 1.3x |
| Sat, 01 Apr 2023 | Kn20.7b | Kn16.1b | Kn1.3b | 16.3x | 16.3x | 1.3x |
| Mon, 27 Feb 2023 | Kn20.5b | Kn16.2b | Kn1.4b | 15.8x | 14.8x | 1.3x |
| Wed, 25 Jan 2023 | Kn19.5b | Kn15.6b | Kn1.5b | 15.5x | 13x | 1.2x |
| Fri, 23 Dec 2022 | Kn133.9b | Kn107.0b | Kn11.5b | 13.9x | 11.7x | 1.3x |
| Sun, 20 Nov 2022 | Kn132.8b | Kn107.0b | Kn11.5b | 13.5x | 11.6x | 1.2x |
| Tue, 18 Oct 2022 | Kn131.4b | Kn97.4b | Kn9.9b | 14.7x | 13.3x | 1.3x |
| Thu, 15 Sep 2022 | Kn133.6b | Kn97.1b | Kn9.8b | 14.7x | 13.7x | 1.4x |
| Sat, 13 Aug 2022 | Kn135.4b | Kn97.1b | Kn9.8b | 14.8x | 13.8x | 1.4x |
| Mon, 11 Jul 2022 | Kn134.2b | Kn90.1b | Kn8.0b | 14.4x | 16.8x | 1.5x |
| Wed, 08 Jun 2022 | Kn138.4b | Kn90.8b | Kn8.0b | 15.5x | 17.3x | 1.5x |
| Fri, 06 May 2022 | Kn138.0b | Kn90.7b | Kn8.0b | 16.4x | 17.2x | 1.5x |
| Sun, 03 Apr 2022 | Kn138.1b | Kn89.7b | Kn7.1b | 17.6x | 19.4x | 1.5x |
| Tue, 01 Mar 2022 | Kn136.2b | Kn87.8b | Kn7.0b | 14.9x | 19.4x | 1.6x |
| Thu, 27 Jan 2022 | Kn139.7b | Kn84.6b | Kn6.6b | 14.1x | 21.3x | 1.7x |
Price to Earnings Ratio
21.3x
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 15.9x.
Past Earnings Growth
- The earnings for companies in the Croatian industry have declined 35% per year over the last three years.
- Revenues have also declined 42% 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 | 0.81% | |
| Tech | 2.92% | |
| Financials | 2.63% | |
| Consumer Discretionary | 1.05% | |
| Real Estate | 0% | 0 |
| Materials | 0% | 0 |
| Utilities | 0% | 0 |
| Information Technology | 0% | 0 |
| Financials | 0% | 0 |
| Health Care | 0% | 0 |
| Industrials | 0% | 0 |
| Industrials | -0.22% | |
| Telecom | -0.25% | |
| Consumer Staples | -0.72% | |
| Healthcare | -0.86% | |
| Energy | -0.94% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading close to its 3-year average PE ratio of 20.5x.
- Analysts are expecting annual earnings growth of 3.8%, which is lower than the prior year's growth of 25.4% per year.
- The Healthcare sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.2x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 42% over the next 5 years.
- This is better than its past earnings decline of 1.0% per year.
- In contrast, the Tech sector is expected to see its earnings decline by 2.2% 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 | €29.90 | 1.4% +€128.1m | 88.1% | PB3.5x | Financials | |
| RIVP Valamar Riviera d.d | €5.60 | 6.9% +€44.3m | 21.0% | PE31.4x | Consumer Discretionary | |
| HPB Hrvatska postanska banka d.d | €324.00 | 3.2% +€20.2m | 69.6% | PB1.1x | Financials | |
| ADRS Adris grupa d. d | €82.00 | 1.2% +€15.8m | -2.4% | PE17.7x | Industrials | |
| DLKV Dalekovod d.d | €4.34 | 6.9% +€11.5m | 72.2% | PE164.2x | Industrials |
