Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Malawian (MSE) Market Analysis & Valuation

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies14
  • 7D2.5%
  • 3M48.7%
  • 1Y212.7%
  • YTD159.0%

The market is up 2.5% over the last week, with the Financials sector leading the way, up 3.1%. As for the past 12 months, the market is up 213%.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Sep 2025MK 24.2tMK 3.7tMK 874.8b25.6x27.6x6.5x
Sun, 17 Aug 2025MK 20.1tMK 3.3tMK 741.3b29.7x27.2x6.1x
Tue, 15 Jul 2025MK 19.1tMK 3.3tMK 708.9b27.9x26.9x5.8x
Thu, 12 Jun 2025MK 15.3tMK 3.1tMK 658.8b19.1x23.2x4.9x
Sat, 10 May 2025MK 15.5tMK 3.0tMK 597.4b21.6x26x5.2x
Mon, 07 Apr 2025MK 15.7tMK 2.8tMK 512.8b22.3x30.6x5.7x
Wed, 05 Mar 2025MK 15.3tMK 2.7tMK 472.0b22.2x32.3x5.7x
Fri, 31 Jan 2025MK 11.5tMK 2.7tMK 472.0b17.8x24.3x4.3x
Sun, 29 Dec 2024MK 9.1tMK 2.7tMK 472.0b12.7x19.2x3.4x
Tue, 26 Nov 2024MK 8.4tMK 2.7tMK 494.8b10.3x16.9x3.1x
Thu, 24 Oct 2024MK 7.8tMK 2.7tMK 494.8b9.8x15.7x2.9x
Sat, 21 Sep 2024MK 7.7tMK 2.5tMK 457.2b12.8x16.8x3x
Mon, 19 Aug 2024MK 7.4tMK 2.4tMK 446.6b13x16.7x3.1x
Wed, 17 Jul 2024MK 6.7tMK 2.3tMK 423.5b12.1x15.7x2.8x
Fri, 14 Jun 2024MK 6.3tMK 2.3tMK 397.8b14.4x15.8x2.7x
Sun, 12 May 2024MK 6.1tMK 2.3tMK 409.2b13.8x14.8x2.6x
Tue, 09 Apr 2024MK 6.1tMK 2.2tMK 451.6b12.3x13.5x2.7x
Thu, 07 Mar 2024MK 6.0tMK 2.0tMK 412.3b12.3x14.7x3.1x
Sat, 03 Feb 2024MK 6.2tMK 2.0tMK 418.8b12.9x14.8x3.1x
Mon, 01 Jan 2024MK 5.9tMK 2.0tMK 418.8b14x14.1x3x
Wed, 29 Nov 2023MK 6.0tMK 1.9tMK 381.2b16.2x15.8x3.2x
Fri, 27 Oct 2023MK 6.1tMK 1.8tMK 352.9b16.2x17.2x3.4x
Sun, 24 Sep 2023MK 6.4tMK 1.7tMK 331.1b16.9x19.2x3.7x
Tue, 22 Aug 2023MK 6.2tMK 1.6tMK 290.6b19.8x21.4x3.8x
Thu, 20 Jul 2023MK 5.9tMK 1.6tMK 265.5b19.5x22.3x3.7x
Sat, 17 Jun 2023MK 5.6tMK 1.6tMK 287.3b14.6x19.3x3.6x
Mon, 15 May 2023MK 5.2tMK 1.5tMK 276.8b14.5x18.8x3.5x
Wed, 12 Apr 2023MK 4.4tMK 1.3tMK 242.2b15.1x18x3.3x
Fri, 10 Mar 2023MK 3.9tMK 1.3tMK 223.6b17x17.3x3x
Sun, 05 Feb 2023MK 3.7tMK 1.3tMK 223.9b14.6x16.4x2.8x
Tue, 03 Jan 2023MK 3.3tMK 1.2tMK 189.8b11.6x17.5x2.9x
Thu, 01 Dec 2022MK 3.2tMK 1.2tMK 193.6b10.1x16.5x2.7x
Sat, 29 Oct 2022MK 2.9tMK 1.2tMK 193.5b10.1x15.2x2.5x
Mon, 26 Sep 2022MK 2.9tMK 1.2tMK 193.5b10.1x15x2.5x
Price to Earnings Ratio

15x


Total Market Cap: MK 2.9tTotal Earnings: MK 193.5bTotal Revenue: MK 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Malawian Market Price to Earnings3Y Average 19.2x202320242025
Current Market PE
  • Investors are optimistic on the Malawian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 27.6x which is higher than its 3-year average PE of 19.2x.
Past Earnings Growth
  • The earnings for Malawian listed companies have grown 65% per year over the last three years.
  • Revenues for these companies have grown 47% 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 Malawian Market?

MW Market2.53%
Financials3.15%
Real Estate0.056%
Consumer Discretionary0.028%
Consumer Staples0.0017%
Industrials0%0
Telecom-0.35%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 28.2x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 10.7x.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NBM National Bank of MalawiMK 10.78k14.4%
+MK 631.8b		212.5%PB15.1xFinancials
FMBCH FMBcapital HoldingsMK 1.90k7.9%
+MK 343.1b		376.3%PB10.9xFinancials
FDHB FDH BankMK 637.956.3%
+MK 262.0b		326.8%PB28.8xFinancials
AIRTEL Airtel MalawiMK 138.540.4%
+MK 6.3b		208.5%PE35.7xTelecom
MPICO MPICOMK 19.550.2%
+MK 91.9m		30.9%PE5.3xReal Estate
See more

Market Insights

Header cover image
💸 Finding Quality Dividend Yields in a Rate-Cutting Environment
Richard Bowman avatar
Richard Bowman
|
|
The market has already priced in a 25bps rate cut from the Fed next week like it’s a done deal. So this week, we’re zooming in on what’s really been going on in the bond market, and what it all means for dividend investors who want to maintain yield.
Continue reading
💸 How to Navigate Lofty Valuations in 2025
Last Week

💸 How to Navigate Lofty Valuations in 2025

Latest News

NICO
MK 1,739.94
NICO Holdings
7D
-0.004%
1Y
775.7%
NBM
MK 10,779.48
National Bank of Malawi
7D
14.4%
1Y
212.5%
NBS
MK 1,024.72
NBS Bank
7D
-0.004%
1Y
584.9%
ILLOVO
MK 1,791.47
Illovo Sugar (Malawi)
7D
0.002%
1Y
37.8%
FDHB
MK 637.95
FDH Bank
7D
6.3%
1Y
326.8%
ICON
MK 17.94
ICON Properties
7D
-0.06%
1Y
20.3%
BHL
MK 15.02
Blantyre Hotels
7D
0.07%
1Y
11.3%
TNM
MK 34.84
Telekom Networks Malawi
7D
-0.2%
1Y
88.4%
FMBCH
MK 1,897.99
FMBcapital Holdings
7D
7.9%
1Y
376.3%
AIRTEL
MK 138.54
Airtel Malawi
7D
0.4%
1Y
208.5%
STANDARD
MK 6,485.64
Standard Bank
7D
-0.1%
1Y
21.6%
MPICO
MK 19.55
MPICO
7D
0.2%
1Y
30.9%