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Malawian (MSE) Market Analysis & Valuation

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies14
  • 7D0.2%
  • 3M-9.2%
  • 1Y50.3%
  • YTD-13.0%

The Consumer Discretionary sector gained 13% while the market remained flat over the last week. More promisingly, the market is up 50% over the past year.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026MK 27.8tMK 5.1tMK 1.4t23.4x20.4x5.4x
Tue, 02 Jun 2026MK 27.3tMK 5.0tMK 1.3t22.4x20.5x5.4x
Thu, 30 Apr 2026MK 27.9tMK 4.8tMK 1.3t23.5x22.2x5.8x
Sat, 28 Mar 2026MK 30.7tMK 4.3tMK 1.1t27.8x28.8x7.2x
Mon, 23 Feb 2026MK 26.6tMK 4.1tMK 1.0t23.8x26.6x6.5x
Wed, 21 Jan 2026MK 28.0tMK 4.0tMK 960.2b27.2x29.1x7x
Fri, 19 Dec 2025MK 28.5tMK 4.0tMK 960.2b22.1x29.7x7.1x
Sun, 16 Nov 2025MK 29.9tMK 3.9tMK 905.6b27.2x33x7.7x
Tue, 14 Oct 2025MK 26.5tMK 3.9tMK 905.6b28.2x29.2x6.9x
Thu, 11 Sep 2025MK 23.3tMK 3.7tMK 874.8b22.6x26.6x6.3x
Sat, 09 Aug 2025MK 19.4tMK 3.3tMK 708.9b28.5x27.3x5.9x
Mon, 07 Jul 2025MK 17.9tMK 3.3tMK 708.9b27.9x25.2x5.5x
Wed, 04 Jun 2025MK 15.0tMK 3.0tMK 635.6b19.9x23.6x4.9x
Fri, 02 May 2025MK 15.6tMK 2.8tMK 541.5b21.7x28.7x5.5x
Sun, 30 Mar 2025MK 15.7tMK 2.7tMK 490.4b21x32x5.8x
Tue, 25 Feb 2025MK 14.2tMK 2.7tMK 472.0b22.2x30.2x5.3x
Thu, 23 Jan 2025MK 10.3tMK 2.7tMK 472.0b17.8x21.8x3.8x
Sat, 21 Dec 2024MK 9.1tMK 2.7tMK 472.0b12.7x19.3x3.4x
Mon, 18 Nov 2024MK 8.2tMK 2.7tMK 494.8b9.8x16.5x3.1x
Wed, 16 Oct 2024MK 7.7tMK 2.7tMK 494.8b9.8x15.6x2.9x
Fri, 13 Sep 2024MK 7.7tMK 2.4tMK 445.7b13x17.2x3.2x
Sun, 11 Aug 2024MK 7.2tMK 2.3tMK 423.5b13.1x17x3.1x
Tue, 09 Jul 2024MK 6.5tMK 2.3tMK 423.5b10.7x15.4x2.8x
Thu, 06 Jun 2024MK 6.2tMK 2.3tMK 397.8b14.4x15.5x2.6x
Sat, 04 May 2024MK 6.1tMK 2.3tMK 409.2b13.8x14.9x2.6x
Mon, 01 Apr 2024MK 6.1tMK 2.2tMK 433.6b12.3x14.1x2.8x
Wed, 28 Feb 2024MK 6.1tMK 2.0tMK 418.8b12.3x14.5x3.1x
Fri, 26 Jan 2024MK 6.2tMK 2.0tMK 418.8b12.9x14.8x3.1x
Sun, 24 Dec 2023MK 5.8tMK 1.9tMK 381.2b16.2x15.1x3.1x
Tue, 21 Nov 2023MK 6.1tMK 1.9tMK 380.8b16.2x15.9x3.2x
Thu, 19 Oct 2023MK 6.2tMK 1.8tMK 352.9b16.2x17.5x3.5x
Sat, 16 Sep 2023MK 6.4tMK 1.7tMK 331.5b17.7x19.3x3.7x
Mon, 14 Aug 2023MK 6.2tMK 1.6tMK 290.3b19.9x21.4x3.8x
Wed, 12 Jul 2023MK 5.8tMK 1.3tMK 253.6b17.8x22.7x4.4x
Price to Earnings Ratio

22.7x


Total Market Cap: MK 5.8tTotal Earnings: MK 253.6bTotal Revenue: MK 1.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Malawian Market Price to Earnings3Y Average 21.8x202420252026
Current Market PE
  • Investors are relatively neutral on the Malawian 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 21.8x.
Past Earnings Growth
  • The earnings for Malawian listed companies have grown 75% per year over the last three years.
  • Revenues for these companies have grown 58% 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 Market0.19%
Consumer Discretionary12.94%
Consumer Staples0.00057%
Industrials0.00021%
Real Estate0%0
Telecom-0.094%
Financials-0.29%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 22.2x.
    • 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 6.1x.
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
SUNBIRD Sunbird TourismMK 3.55k14.5%
+MK 117.7b		n/aPE74.4xConsumer Discretionary
BHL Blantyre HotelsMK 17.430.2%
+MK 230.4m		19.8%PE84.8xConsumer Discretionary
FMBCH FMBcapital HoldingsMK 1.90k0.0005%
+MK 24.6m		58.0%PB9.3xFinancials
ILLOVO Illovo Sugar (Malawi)MK 3.50k0.0006%
+MK 14.3m		95.5%PE22.9xConsumer Staples
PCL PressMK 9.50k0.0002%
+MK 2.4m		86.3%PE7.9xIndustrials
See more

Market Insights

Header cover image
Markets are supposed to reprice risk when it changes. This time they've repriced the promise, but left the threat largely untouched. Whether that's an oversight or a fair call is worth thinking through.
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Latest News

TNM
MK 29.15
Telekom Networks Malawi
7D
-0.2%
1Y
-0.5%
NICO
MK 1,583.71
NICO Holdings
7D
-0.6%
1Y
83.1%
PCL
MK 9,500.02
Press
7D
0.0002%
1Y
86.3%
ILLOVO
MK 3,501.82
Illovo Sugar (Malawi)
7D
0.0006%
1Y
95.5%
SUNBIRD
MK 3,550.01
Sunbird Tourism
7D
14.5%
1Y
n/a
STANDARD
MK 3,999.32
Standard Bank
7D
-0.003%
1Y
66.6%
AIRTEL
MK 111.24
Airtel Malawi
7D
-0.05%
1Y
-12.7%
FMBCH
MK 1,895.91
FMBcapital Holdings
7D
0.0005%
1Y
58.0%
NBS
MK 737.81
NBS Bank
7D
-0.4%
1Y
5.4%
BHL
MK 17.43
Blantyre Hotels
7D
0.2%
1Y
19.8%
FDHB
MK 524.89
FDH Bank
7D
-1.1%
1Y
49.9%
NBM
MK 9,995.98
National Bank of Malawi
7D
-0.03%
1Y
61.2%