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Croatian (CROBEX) Market Analysis & Valuation
UpdatedAug 11, 2025
DataAggregated Company Financials
Companies58
- 7D0.3%
- 3M7.5%
- 1Y29.0%
- YTD11.9%
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 29% over the past year. Earnings are forecast to be flat in the coming years.
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, 11 Aug 2025 | Kn33.1b | Kn17.9b | Kn1.9b | 15x | 17x | 1.9x |
| Wed, 09 Jul 2025 | Kn31.6b | Kn17.4b | Kn1.9b | 16.1x | 16.7x | 1.8x |
| Fri, 06 Jun 2025 | Kn30.7b | Kn17.5b | Kn1.9b | 15.1x | 16.2x | 1.8x |
| Sun, 04 May 2025 | Kn29.9b | Kn17.4b | Kn1.9b | 14.7x | 16.1x | 1.7x |
| Tue, 01 Apr 2025 | Kn30.7b | Kn17.1b | Kn1.8b | 14.9x | 17.4x | 1.8x |
| Thu, 27 Feb 2025 | Kn29.6b | Kn16.7b | Kn1.7b | 15.1x | 17.3x | 1.8x |
| Sat, 25 Jan 2025 | Kn30.8b | Kn16.7b | Kn1.8b | 15.3x | 17.1x | 1.8x |
| Mon, 23 Dec 2024 | Kn29.2b | Kn16.7b | Kn1.8b | 14.5x | 16.2x | 1.8x |
| Wed, 20 Nov 2024 | Kn27.5b | Kn16.6b | Kn1.8b | 15.6x | 15.4x | 1.7x |
| Fri, 18 Oct 2024 | Kn26.2b | Kn16.4b | Kn1.7b | 17.9x | 15.6x | 1.6x |
| Sun, 15 Sep 2024 | Kn25.8b | Kn16.4b | Kn1.7b | 18.2x | 15.4x | 1.6x |
| Tue, 13 Aug 2024 | Kn25.5b | Kn16.4b | Kn1.7b | 17.8x | 15.2x | 1.6x |
| Thu, 11 Jul 2024 | Kn24.5b | Kn16.1b | Kn1.7b | 15x | 14.6x | 1.5x |
| Sat, 08 Jun 2024 | Kn24.8b | Kn16.1b | Kn1.7b | 14.8x | 14.8x | 1.5x |
| Mon, 06 May 2024 | Kn24.2b | Kn16.1b | Kn1.7b | 14.8x | 14.3x | 1.5x |
| Wed, 03 Apr 2024 | Kn24.9b | Kn16.0b | Kn1.6b | 15x | 15.2x | 1.6x |
| Fri, 01 Mar 2024 | Kn24.0b | Kn15.7b | Kn1.6b | 15.4x | 14.7x | 1.5x |
| Sun, 28 Jan 2024 | Kn25.4b | Kn17.9b | Kn1.4b | 16x | 18.2x | 1.4x |
| Tue, 26 Dec 2023 | Kn24.4b | Kn18.0b | Kn1.4b | 15.4x | 17.5x | 1.4x |
| Thu, 23 Nov 2023 | Kn23.0b | Kn17.9b | Kn1.4b | 15.9x | 16.5x | 1.3x |
| Sat, 21 Oct 2023 | Kn22.2b | Kn17.3b | Kn1.3b | 15.8x | 16.5x | 1.3x |
| Mon, 18 Sep 2023 | Kn22.9b | Kn17.3b | Kn1.3b | 15.6x | 17x | 1.3x |
| Wed, 16 Aug 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 16.3x | 16.8x | 1.3x |
| Fri, 14 Jul 2023 | Kn21.7b | Kn17.0b | Kn1.4b | 18.6x | 16x | 1.3x |
| Sun, 11 Jun 2023 | Kn21.8b | Kn17.2b | Kn1.3b | 18.1x | 16.3x | 1.3x |
| Tue, 09 May 2023 | Kn20.6b | Kn16.3b | Kn1.2b | 18.7x | 17x | 1.3x |
| Thu, 06 Apr 2023 | Kn20.8b | Kn16.1b | Kn1.2b | 17.6x | 16.7x | 1.3x |
| Sat, 04 Mar 2023 | Kn20.6b | Kn16.2b | Kn1.4b | 17x | 14.9x | 1.3x |
| Mon, 30 Jan 2023 | Kn19.6b | Kn15.6b | Kn1.5b | 14.8x | 13x | 1.3x |
| Wed, 28 Dec 2022 | Kn134.1b | Kn107.0b | Kn11.5b | 14x | 11.7x | 1.3x |
| Fri, 25 Nov 2022 | Kn133.3b | Kn107.0b | Kn11.5b | 13.5x | 11.6x | 1.2x |
| Sun, 23 Oct 2022 | Kn131.5b | Kn97.4b | Kn9.9b | 14.7x | 13.3x | 1.4x |
| Tue, 20 Sep 2022 | Kn133.2b | Kn97.1b | Kn9.8b | 14.7x | 13.6x | 1.4x |
| Thu, 18 Aug 2022 | Kn135.6b | Kn97.1b | Kn9.8b | 14.8x | 13.9x | 1.4x |
Price to Earnings Ratio
13.9x
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 15.6x.
Past Earnings Growth
- The earnings for companies in the Croatian industry have declined 42% per year over the last three years.
- Revenues have also declined 43% 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 | 0.32% | |
| Healthcare | 1.82% | |
| Industrials | 1.39% | |
| Financials | 1.15% | |
| Consumer Discretionary | 1.04% | |
| Real Estate | 0% | 0 |
| Materials | 0% | 0 |
| Utilities | 0% | 0 |
| Telecom | -0.48% | |
| Tech | -0.61% | |
| Consumer Staples | -1.51% | |
| Energy | -1.62% | |
Sector PE
- Investors favour the Energy sector the most for future growth, which is trading close to its 3-year average PE ratio of 24.6x.
- 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 9.0x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 11% over the next 5 years.
- However this is lower than its past earnings growth rate of 16% per year.
- In contrast, the Consumer Staples sector is expected to see its earnings decline by 10% 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 | |
|---|---|---|---|---|---|---|
| DDJH Ðuro Ðakovic Grupa d.d | €50.00 | 22.5% +€260.4m | 123.2% | PE143.9x | Industrials | |
| ZABA Zagrebacka banka d.d | €26.00 | 1.2% +€96.1m | 36.5% | PB3.1x | Financials | |
| JNAF Jadranski naftovod d.d | €830.00 | 7.1% +€55.4m | -5.7% | PE16.7x | Energy | |
| ADRS Adris grupa d. d | €120.00 | 1.7% +€31.7m | 43.7% | PE26.2x | Industrials | |
| CROS Croatia osiguranje d.d | €2.36k | 2.6% +€25.3m | 71.0% | PE14.3x | Financials |
