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Serbian (BELEX) Market Analysis & Valuation
UpdatedApr 13, 2025
DataAggregated Company Financials
Companies35
- 7D0.1%
- 3M-0.5%
- 1Y0.2%
- YTD-1.6%
The market has stayed flat over the 7 days. Similarly, the market is flat for the past 12 months. Looking forward, earnings are forecast to grow by 17% annually.
Market Valuation and Performance
Has the Serbian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 13 Apr 2025 | дин302.4b | дин525.6b | дин20.2b | 8x | 15x | 0.6x |
| Tue, 11 Mar 2025 | дин298.9b | дин527.7b | дин20.3b | 8.2x | 14.7x | 0.6x |
| Thu, 06 Feb 2025 | дин353.7b | дин560.4b | дин26.7b | 8.7x | 13.3x | 0.6x |
| Sat, 04 Jan 2025 | дин361.7b | дин564.7b | дин37.1b | 8.1x | 9.7x | 0.6x |
| Mon, 02 Dec 2024 | дин364.5b | дин557.1b | дин36.6b | 8.1x | 10x | 0.7x |
| Wed, 30 Oct 2024 | дин366.6b | дин557.7b | дин36.6b | 7.8x | 10x | 0.7x |
| Fri, 27 Sep 2024 | дин357.9b | дин573.7b | дин51.1b | 8x | 7x | 0.6x |
| Sun, 25 Aug 2024 | дин350.1b | дин572.7b | дин50.9b | 7.7x | 6.9x | 0.6x |
| Tue, 23 Jul 2024 | дин339.0b | дин544.5b | дин48.6b | 8.3x | 7x | 0.6x |
| Thu, 20 Jun 2024 | дин801.4b | дин567.6b | дин50.3b | 8.2x | 15.9x | 1.4x |
| Sat, 18 May 2024 | дин763.8b | дин543.8b | дин43.7b | 7.5x | 17.5x | 1.4x |
| Mon, 15 Apr 2024 | дин811.8b | дин575.7b | дин59.1b | 9.5x | 13.7x | 1.4x |
| Wed, 13 Mar 2024 | дин328.9b | дин575.5b | дин59.2b | 8.5x | 5.6x | 0.6x |
| Fri, 09 Feb 2024 | дин316.5b | дин569.2b | дин59.1b | 7.2x | 5.4x | 0.6x |
| Sun, 07 Jan 2024 | дин419.5b | дин635.2b | дин75.5b | 9.8x | 5.6x | 0.7x |
| Tue, 05 Dec 2023 | дин417.0b | дин635.2b | дин75.5b | 10.2x | 5.5x | 0.7x |
| Thu, 02 Nov 2023 | дин417.0b | дин607.5b | дин75.4b | 9.1x | 5.5x | 0.7x |
| Sat, 30 Sep 2023 | дин413.5b | дин629.8b | дин82.7b | 8.8x | 5x | 0.7x |
| Mon, 28 Aug 2023 | дин409.6b | дин627.3b | дин82.0b | 10.2x | 5x | 0.7x |
| Wed, 26 Jul 2023 | дин406.5b | дин675.5b | дин109.3b | 12.5x | 3.7x | 0.6x |
| Fri, 23 Jun 2023 | дин408.1b | дин677.8b | дин109.2b | 13.7x | 3.7x | 0.6x |
| Sun, 21 May 2023 | дин431.7b | дин648.4b | дин103.6b | 10.2x | 4.2x | 0.7x |
| Tue, 18 Apr 2023 | дин408.8b | дин628.8b | дин103.2b | 8.3x | 4x | 0.7x |
| Thu, 16 Mar 2023 | дин413.4b | дин628.8b | дин103.2b | 8.9x | 4x | 0.7x |
| Sat, 11 Feb 2023 | дин403.4b | дин628.5b | дин87.9b | 9x | 4.6x | 0.6x |
| Mon, 09 Jan 2023 | дин386.2b | дин626.6b | дин87.9b | 8.1x | 4.4x | 0.6x |
| Wed, 07 Dec 2022 | дин330.6b | дин580.5b | дин72.3b | 7.8x | 4.6x | 0.6x |
| Fri, 04 Nov 2022 | дин319.7b | дин580.1b | дин72.0b | 8.5x | 4.4x | 0.6x |
| Sun, 02 Oct 2022 | дин327.0b | дин584.8b | дин72.1b | 8.5x | 4.5x | 0.6x |
| Tue, 30 Aug 2022 | дин329.3b | дин582.4b | дин72.9b | 7.8x | 4.5x | 0.6x |
| Thu, 28 Jul 2022 | дин321.9b | дин511.1b | дин50.2b | 5.9x | 6.4x | 0.6x |
| Sat, 25 Jun 2022 | дин320.8b | дин515.6b | дин50.2b | 6.1x | 6.4x | 0.6x |
| Mon, 23 May 2022 | дин561.8b | дин511.6b | дин47.6b | 9.8x | 11.8x | 1.1x |
| Wed, 20 Apr 2022 | дин302.2b | дин460.6b | дин34.5b | 10.1x | 8.8x | 0.7x |
Price to Earnings Ratio
8.8x
Current Market PE
- Investors are optimistic on the Serbian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 15.0x which is higher than its 3-year average PE of 7.1x.
Past Earnings Growth
- The earnings for Serbian listed companies have declined 16% per year over the last three years.
- Meanwhile revenues for these companies have grown 4.5% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Sector Trends
Which sectors have driven the changes within the Serbian Market?
| RS Market | 0.099% | |
| Industrials | 2.11% | |
| Consumer Discretionary | 0.47% | |
| Energy | 0% | 0 |
| Real Estate | 0% | 0 |
| Consumer Staples | 0% | 0 |
| Healthcare | 0% | 0 |
| Tech | 0% | 0 |
| Telecom | 0% | 0 |
| Utilities | 0% | 0 |
| Financials | -1.90% | |
| Materials | -2.17% | |
Sector PE
- Investors favour the Industrials sector the most for future growth even though it's trading below its 3-year average PE ratio of 160x.
- 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 6.8x.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 17% over the next 5 years.
- This is better than its past earnings decline of 76% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 17% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| AERO Aerodrom Nikola Tesla a.d | дин2.10k | 1.4% +дин1.0b | 7.7% | PE304x | Industrials | |
| GFOM Gosa Fom a.d | дин2.09k | 29.8% +дин656.8m | 71.2% | PE13.8x | Industrials | |
| LSTA Lasta a.d | дин389.00 | 30.1% +дин207.0m | -31.4% | n/a | Industrials | |
| AMSO AMS Osiguranje a.d | дин3.60k | 5.9% +дин62.9m | n/a | PE3.9x | Financials | |
| MTLC Metalac a.d. Gornji Milanovac | дин1.96k | 0.5% +дин19.3m | 14.0% | PE4.8x | Consumer Discretionary |
