Namibian (NSX) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 13 Apr 2025	N$48.6b	N$28.0b	N$7.1b	6.4x	6.9x	1.7x
Tue, 11 Mar 2025	N$47.6b	N$27.3b	N$6.9b	6.4x	6.9x	1.7x
Thu, 06 Feb 2025	N$46.5b	N$26.5b	N$6.7b	6.6x	7x	1.8x
Sat, 04 Jan 2025	N$45.8b	N$26.4b	N$6.7b	6.4x	6.9x	1.7x
Mon, 02 Dec 2024	N$45.5b	N$26.2b	N$6.7b	6.4x	6.8x	1.7x
Wed, 30 Oct 2024	N$45.9b	N$25.3b	N$6.5b	6.6x	7x	1.8x
Fri, 27 Sep 2024	N$45.4b	N$24.7b	N$11.2b	6.1x	4x	1.8x
Sun, 25 Aug 2024	N$44.6b	N$24.0b	N$10.6b	5.8x	4.2x	1.9x
Tue, 23 Jul 2024	N$43.9b	N$22.8b	N$10.1b	6.9x	4.4x	1.9x
Thu, 20 Jun 2024	N$43.8b	N$23.6b	N$10.4b	6.7x	4.2x	1.9x
Sat, 18 May 2024	N$43.9b	N$23.6b	N$10.4b	6.6x	4.2x	1.9x
Mon, 15 Apr 2024	N$44.2b	N$23.7b	N$10.4b	6.5x	4.2x	1.9x
Wed, 13 Mar 2024	N$43.8b	N$23.0b	N$10.5b	6x	4.2x	1.9x
Fri, 09 Feb 2024	N$44.2b	N$23.7b	N$10.4b	6x	4.2x	1.9x
Sun, 07 Jan 2024	N$43.9b	N$23.7b	N$10.4b	6.2x	4.2x	1.9x
Tue, 05 Dec 2023	N$44.7b	N$23.8b	N$10.3b	6.2x	4.3x	1.9x
Thu, 02 Nov 2023	N$44.2b	N$23.7b	N$10.2b	6.5x	4.3x	1.9x
Sat, 30 Sep 2023	N$45.2b	N$23.2b	N$10.2b	6.4x	4.4x	1.9x
Mon, 28 Aug 2023	N$44.3b	N$22.1b	N$5.3b	7.7x	8.4x	2x
Wed, 26 Jul 2023	N$43.1b	N$21.9b	N$5.1b	6.7x	8.5x	2x
Fri, 23 Jun 2023	N$41.1b	N$21.9b	N$5.1b	6.7x	8.1x	1.9x
Sun, 21 May 2023	N$40.6b	N$21.8b	N$5.3b	6.7x	7.7x	1.9x
Tue, 18 Apr 2023	N$38.9b	N$21.8b	N$5.3b	6.7x	7.4x	1.8x
Thu, 16 Mar 2023	N$39.1b	N$21.4b	N$4.9b	6.5x	8x	1.8x
Sat, 11 Feb 2023	N$38.8b	N$20.7b	N$4.6b	6.7x	8.5x	1.9x
Mon, 09 Jan 2023	N$37.6b	N$20.7b	N$4.6b	6.7x	8.2x	1.8x
Wed, 07 Dec 2022	N$37.2b	N$20.6b	N$4.5b	6.7x	8.2x	1.8x
Fri, 04 Nov 2022	N$37.5b	N$20.7b	N$4.5b	6.4x	8.3x	1.8x
Sun, 02 Oct 2022	N$35.8b	N$20.4b	N$4.5b	6.1x	8x	1.8x
Tue, 30 Aug 2022	N$34.9b	N$18.9b	N$4.2b	7.3x	8.4x	1.8x
Thu, 28 Jul 2022	N$34.9b	N$18.9b	N$4.4b	6.7x	7.9x	1.8x
Sat, 25 Jun 2022	N$37.0b	N$19.1b	N$3.5b	6.4x	10.5x	1.9x
Mon, 23 May 2022	N$36.8b	N$19.1b	N$3.5b	6.7x	10.5x	1.9x
Wed, 20 Apr 2022	N$36.9b	N$18.9b	N$3.5b	6.7x	10.7x	2x

Current Market PE

Investors are relatively neutral on the Namibian 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 6.8x.

Past Earnings Growth

The earnings for Namibian listed companies have grown 27% per year over the last three years.
Revenues for these companies have grown 14% 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 Namibian Market?


NA Market	0.11%
Financials	0.14%
Telecom	0.10%
Real Estate	0%	0
Industrials	0%	0
Consumer Discretionary	0%	0
Consumer Staples	0%	0
Utilities	0%	0

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 Consumer Discretionary sector is the least preferred by investors for future growth, which is trading below its 3-year average of 2.8x.

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?

Company	Last Price	7D	1Y	Valuation	Sector
SNO SBN Holdings	R10.09	0.5% +R26.1m	18.7%	PB1x	Financials
TAD Tadvest	R17.57	1.4% +R10.7m	3.0%	PE5.2x	Financials
CGP Capricorn Group	R21.30	0.09% +R10.1m	17.0%	PB1x	Financials
MOC Mobile Telecommunications	R8.25	0.1% +R7.5m	7.0%	PE8x	Telecom
FNB FirstRand Namibia	R46.94	0.02% +R2.6m	-5.1%	PB1.9x	Financials

Company

Last Price

Valuation

Sector

SNO SBN Holdings

R10.09

0.5%
+R26.1m

18.7%

PB1x

Financials

TAD Tadvest

R17.57