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Kenyan (NSE) Market Analysis & Valuation

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies50
  • 7D4.0%
  • 3M6.9%
  • 1Y55.1%
  • YTD50.5%

The market has climbed 3.6% in the last 7 days, lead by the Consumer Staples sector with a gain of 21%. In the last year, the market has climbed 55%. Earnings are forecast to grow by 17% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025KSh2.9tKSh1.9tKSh403.5b6.5x7.1x1.5x
Mon, 17 Nov 2025KSh2.9tKSh1.9tKSh405.8b6.5x7.2x1.5x
Wed, 15 Oct 2025KSh2.6tKSh1.9tKSh392.5b6x6.7x1.4x
Fri, 12 Sep 2025KSh2.8tKSh1.9tKSh408.7b5.8x6.7x1.5x
Sun, 10 Aug 2025KSh2.5tKSh1.9tKSh397.6b5x6.2x1.3x
Tue, 08 Jul 2025KSh2.5tKSh1.9tKSh397.5b4.3x6.2x1.3x
Thu, 05 Jun 2025KSh2.1tKSh1.9tKSh396.7b4.1x5.2x1.1x
Sat, 03 May 2025KSh1.9tKSh1.9tKSh386.3b3.7x4.9x1x
Mon, 31 Mar 2025KSh2.0tKSh1.9tKSh379.5b4.9x5.2x1x
Wed, 26 Feb 2025KSh2.0tKSh1.9tKSh367.1b5.2x5.5x1.1x
Fri, 24 Jan 2025KSh2.0tKSh1.9tKSh353.4b5.6x5.7x1.1x
Sun, 22 Dec 2024KSh1.9tKSh1.9tKSh354.1b5.3x5.2x1x
Tue, 19 Nov 2024KSh1.7tKSh1.9tKSh349.1b5.1x5x0.9x
Thu, 17 Oct 2024KSh1.7tKSh1.8tKSh320.4b4.9x5.3x0.9x
Sat, 14 Sep 2024KSh1.6tKSh1.8tKSh321.1b4.6x5x0.9x
Mon, 12 Aug 2024KSh1.6tKSh1.7tKSh307.9b4.5x5x0.9x
Wed, 10 Jul 2024KSh1.7tKSh1.7tKSh299.8b4.6x5.6x1x
Fri, 07 Jun 2024KSh1.7tKSh1.7tKSh298.4b5x5.9x1x
Sun, 05 May 2024KSh1.6tKSh1.7tKSh286.2b4.7x5.6x0.9x
Tue, 02 Apr 2024KSh1.7tKSh1.7tKSh288.9b5.6x6x1x
Thu, 29 Feb 2024KSh1.4tKSh1.7tKSh286.4b5.2x4.9x0.8x
Sat, 27 Jan 2024KSh1.4tKSh1.7tKSh289.7b5.3x4.7x0.8x
Mon, 25 Dec 2023KSh1.4tKSh1.7tKSh290.1b5x4.8x0.8x
Wed, 22 Nov 2023KSh1.4tKSh1.7tKSh288.1b5.2x4.8x0.8x
Fri, 20 Oct 2023KSh1.4tKSh1.6tKSh286.7b5.3x4.9x0.9x
Sun, 17 Sep 2023KSh1.5tKSh1.6tKSh286.3b6x5.3x0.9x
Tue, 15 Aug 2023KSh1.6tKSh1.6tKSh283.5b6.1x5.5x1x
Thu, 13 Jul 2023KSh1.7tKSh1.6tKSh289.3b5.9x6x1.1x
Sat, 10 Jun 2023KSh1.6tKSh1.6tKSh285.1b5.4x5.6x1x
Mon, 08 May 2023KSh1.6tKSh1.6tKSh288.3b5.1x5.5x1x
Wed, 05 Apr 2023KSh1.7tKSh1.5tKSh285.8b5x6x1.1x
Fri, 03 Mar 2023KSh1.9tKSh1.5tKSh283.8b4.8x6.8x1.3x
Sun, 29 Jan 2023KSh1.9tKSh1.5tKSh282.6b5.3x6.8x1.3x
Tue, 27 Dec 2022KSh2.0tKSh1.5tKSh286.2b4.9x6.9x1.3x
Price to Earnings Ratio

6.9x


Total Market Cap: KSh2.0tTotal Earnings: KSh286.2bTotal Revenue: KSh1.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Kenyan Market Price to Earnings3Y Average 5.6x202320242025
Current Market PE
  • Investors are optimistic on the Kenyan market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 7.1x which is higher than its 3-year average PE of 5.6x.
Past Earnings Growth
  • The earnings for Kenyan listed companies have grown 12% per year over the last three years.
  • Revenues for these companies have grown 8.1% 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 Kenyan Market?

KE Market4.00%
Consumer Staples17.85%
Utilities12.39%
Energy6.75%
Financials3.61%
Telecom0.87%
Materials0.86%
Real Estate0%0
Consumer Discretionary-0.82%
Industrials-1.53%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 12.0x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Utilities sector is the least preferred by investors for future growth, which is trading below its 3-year average of 5.2x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 16% 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
EABL East African BreweriesKSh288.7524.1%
+KSh44.1b		65.0%PE24xConsumer Staples
NCBA NCBA GroupKSh89.0012.3%
+KSh16.1b		89.8%PB1.2xFinancials
SCOM SafaricomKSh28.200.9%
+KSh10.0b		60.2%PE16.2xTelecom
COOP Co-operative Bank of KenyaKSh23.256.7%
+KSh8.5b		49.5%PB0.8xFinancials
KCB KCB GroupKSh62.254.2%
+KSh8.0b		57.0%PB0.6xFinancials
See more

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EABL
KSh288.75
East African Breweries
7D
24.1%
1Y
65.0%
KEGN
KSh9.08
Kenya Electricity Generating
7D
13.2%
1Y
164.7%
KCB
KSh62.25
KCB Group
7D
4.2%
1Y
57.0%

KCB: Elevated Credit Costs Will Likely Pressure Future Earnings Quality

Analysts have raised their fair value estimate for KCB Group to KES 50.75 from KES 44.00 per share, citing improving revenue growth expectations, stronger projected profit margins, and a structurally lower future P/E multiple. Together, these factors support a higher long term price target despite a slightly higher discount rate.
IMH
KSh42.85
I&M Group
7D
-5.1%
1Y
35.0%
JUB
KSh311.75
Jubilee Holdings
7D
-4.6%
1Y
85.3%
NCBA
KSh89.00
NCBA Group
7D
12.3%
1Y
89.8%
PORT
KSh71.50
East African Portland Cement
7D
-5.3%
1Y
119.7%
SCBK
KSh300.00
Standard Chartered Bank Kenya
7D
4.5%
1Y
10.0%
CIC
KSh4.36
CIC Insurance Group
7D
-2.9%
1Y
129.5%
KQ
KSh3.49
Kenya Airways
7D
-5.2%
1Y
n/a
COOP
KSh23.25
Co-operative Bank of Kenya
7D
6.7%
1Y
49.5%
DTK
KSh114.00
Diamond Trust Bank Kenya
7D
-0.9%
1Y
80.2%
SCOM
KSh28.20
Safaricom
7D
0.9%
1Y
60.2%
EQTY
KSh62.50
Equity Group Holdings
7D
3.3%
1Y
36.0%
LBTY
KSh9.70
Liberty Kenya Holdings
7D
-5.4%
1Y
49.2%
SMER
KSh12.25
Sameer Africa
7D
-8.9%
1Y
423.5%