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Malawian (MSE) Market Analysis & Valuation

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies14
  • 7D-0.7%
  • 3M-11.8%
  • 1Y74.5%
  • YTD-12.3%

In the last week, the market has been flat. As for the longer term, the market has risen 75% in the past 12 months.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Apr 2026MK 28.1tMK 4.8tMK 1.3t23.6x22.3x5.8x
Sat, 21 Mar 2026MK 30.8tMK 4.3tMK 1.1t27.8x28.9x7.2x
Mon, 16 Feb 2026MK 26.9tMK 4.1tMK 1.0t23.8x26.8x6.5x
Wed, 14 Jan 2026MK 27.8tMK 4.0tMK 960.2b26.5x29x6.9x
Fri, 12 Dec 2025MK 28.7tMK 3.9tMK 905.6b27.1x31.7x7.4x
Sun, 09 Nov 2025MK 28.2tMK 3.9tMK 905.6b27.9x31.1x7.3x
Tue, 07 Oct 2025MK 26.3tMK 3.9tMK 905.6b28.2x29.1x6.8x
Thu, 04 Sep 2025MK 22.8tMK 3.4tMK 790.6b25.2x28.8x6.6x
Sat, 02 Aug 2025MK 18.0tMK 3.3tMK 708.9b27.9x25.4x5.5x
Mon, 30 Jun 2025MK 17.1tMK 3.1tMK 663.9b24.6x25.8x5.5x
Wed, 28 May 2025MK 15.2tMK 3.0tMK 597.4b20.2x25.5x5.1x
Fri, 25 Apr 2025MK 15.7tMK 2.8tMK 512.8b22.9x30.7x5.7x
Sun, 23 Mar 2025MK 15.7tMK 2.7tMK 490.4b21x32.1x5.8x
Tue, 18 Feb 2025MK 13.2tMK 2.7tMK 472.0b22.2x28x4.9x
Thu, 16 Jan 2025MK 10.0tMK 2.7tMK 472.0b15.6x21.2x3.7x
Sat, 14 Dec 2024MK 8.9tMK 2.7tMK 472.0b11.1x18.9x3.3x
Mon, 11 Nov 2024MK 7.9tMK 2.7tMK 494.8b9.8x16x3x
Wed, 09 Oct 2024MK 7.7tMK 2.7tMK 495.4b9.8x15.5x2.9x
Fri, 06 Sep 2024MK 7.5tMK 2.4tMK 445.7b13x16.9x3.1x
Sun, 04 Aug 2024MK 7.1tMK 2.3tMK 423.5b13.1x16.8x3x
Tue, 02 Jul 2024MK 6.5tMK 2.4tMK 403.9b11.2x16x2.6x
Thu, 30 May 2024MK 6.1tMK 2.3tMK 409.2b13.8x14.9x2.6x
Sat, 27 Apr 2024MK 6.1tMK 2.3tMK 409.4b12.6x14.9x2.7x
Mon, 25 Mar 2024MK 6.0tMK 2.2tMK 433.6b12.3x13.9x2.8x
Wed, 21 Feb 2024MK 6.1tMK 2.0tMK 418.8b12.9x14.6x3.1x
Fri, 19 Jan 2024MK 6.1tMK 2.0tMK 418.8b12.9x14.5x3.1x
Sun, 17 Dec 2023MK 5.9tMK 1.9tMK 381.2b16.3x15.4x3.1x
Tue, 14 Nov 2023MK 6.1tMK 1.9tMK 380.8b16.2x15.9x3.2x
Thu, 12 Oct 2023MK 6.2tMK 1.8tMK 352.8b16.2x17.4x3.5x
Sat, 09 Sep 2023MK 6.4tMK 1.7tMK 331.5b17.1x19.3x3.7x
Mon, 07 Aug 2023MK 6.1tMK 1.6tMK 290.5b18.9x21x3.8x
Wed, 05 Jul 2023MK 5.8tMK 1.3tMK 253.3b17.4x22.9x4.4x
Fri, 02 Jun 2023MK 5.5tMK 1.5tMK 283.6b13.7x19.3x3.5x
Sun, 30 Apr 2023MK 4.6tMK 1.5tMK 276.9b12.9x16.7x3.1x
Price to Earnings Ratio

16.7x


Total Market Cap: MK 4.6tTotal Earnings: MK 276.9bTotal Revenue: MK 1.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Malawian Market Price to Earnings3Y Average 21.7x202420252026
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 21.7x.
Past Earnings Growth
  • The earnings for Malawian listed companies have grown 66% per year over the last three years.
  • Revenues for these companies have grown 48% 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 Market-0.66%
Industrials0.11%
Real Estate0.044%
Consumer Staples0.0017%
Consumer Discretionary0%0
Telecom-0.14%
Financials-0.81%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 25.1x.
    • 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 6.6x.
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
PCL PressMK 7.82k0.1%
+MK 999.3m		105.7%PE10.6xIndustrials
ICON ICON PropertiesMK 15.980.06%
+MK 66.8m		-11.0%PE3.9xReal Estate
ILLOVO Illovo Sugar (Malawi)MK 2.95k0.002%
+MK 35.7m		64.6%PE27.2xConsumer Staples
See more

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Latest News

ILLOVO
MK 2,948.65
Illovo Sugar (Malawi)
7D
0.002%
1Y
64.6%
NBM
MK 10,999.67
National Bank of Malawi
7D
-0.002%
1Y
77.4%
PCL
MK 7,820.80
Press
7D
0.1%
1Y
105.7%
NICO
MK 1,648.69
NICO Holdings
7D
-0.3%
1Y
112.3%
ICON
MK 15.98
ICON Properties
7D
0.06%
1Y
-11.0%
NBS
MK 777.68
NBS Bank
7D
-0.8%
1Y
126.5%
FDHB
MK 584.54
FDH Bank
7D
-0.3%
1Y
85.9%
TNM
MK 30.08
Telekom Networks Malawi
7D
-0.4%
1Y
20.7%
FMBCH
MK 1,837.99
FMBcapital Holdings
7D
-3.2%
1Y
53.5%
AIRTEL
MK 112.59
Airtel Malawi
7D
-0.06%
1Y
-12.7%
STANDARD
MK 4,199.50
Standard Bank
7D
-0.003%
1Y
121.0%