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Serbian (BELEX) Market Analysis & Valuation

UpdatedJun 03, 2023
DataAggregated Company Financials
  • 7D-0.3%
  • 3M6.5%
  • 1Y23.3%
  • YTD9.6%

In the last week, the market has been flat. More promisingly, the market is up 23% over the past year. In the next few years, earnings are forecast to decline by 34% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Jun 2023дин426.9bдин677.5bдин109.2b11.3x3.9x0.6x
Tue, 02 May 2023дин420.3bдин629.1bдин103.4b8.8x4.1x0.7x
Thu, 30 Mar 2023дин413.2bдин628.8bдин103.2b8.8x4x0.7x
Sat, 25 Feb 2023дин407.5bдин656.4bдин103.2b8.6x3.9x0.6x
Mon, 23 Jan 2023дин388.4bдин627.3bдин87.9b9.3x4.4x0.6x
Wed, 21 Dec 2022дин332.3bдин648.0bдин90.8b6.9x3.7x0.5x
Fri, 18 Nov 2022дин329.2bдин580.3bдин72.2b7.6x4.6x0.6x
Sun, 16 Oct 2022дин324.7bдин584.8bдин72.1b8.5x4.5x0.6x
Tue, 13 Sep 2022дин329.0bдин582.9bдин73.0b7.8x4.5x0.6x
Thu, 11 Aug 2022дин325.5bдин583.7bдин73.0b7.6x4.5x0.6x
Sat, 09 Jul 2022дин322.0bдин510.9bдин50.2b5.7x6.4x0.6x
Mon, 06 Jun 2022дин320.7bдин513.8bдин47.5b8.1x6.8x0.6x
Wed, 04 May 2022дин292.1bдин462.1bдин34.3b10.1x8.5x0.6x
Fri, 01 Apr 2022дин307.2bдин448.4bдин34.6b10.3x8.9x0.7x
Sun, 27 Feb 2022дин303.6bдин449.6bдин34.6b9.4x8.8x0.7x
Tue, 25 Jan 2022дин309.5bдин401.0bдин24.9b10x12.4x0.8x
Thu, 23 Dec 2021дин296.0bдин401.0bдин24.9b8.4x11.9x0.7x
Sat, 20 Nov 2021дин297.3bдин402.1bдин24.7b8.4x12x0.7x
Mon, 18 Oct 2021дин294.1bдин366.6bдин19.3b13x15.2x0.8x
Wed, 15 Sep 2021дин280.8bдин360.3bдин19.6b13.1x14.3x0.8x
Fri, 13 Aug 2021дин839.5bдин420.1bдин25.3b11.4x33.1x2x
Tue, 08 Jun 2021дин833.8bдин379.9bдин11.9b12.9x70.2x2.2x
Mon, 01 Mar 2021дин827.2bдин387.9bдин8.9b15.3x92.5x2.1x
Thu, 03 Dec 2020дин800.4bдин424.8bдин15.2b12x52.7x1.9x
Sun, 06 Sep 2020дин789.9bдин454.6bдин21.9b14.8x36.1x1.7x
Wed, 10 Jun 2020дин725.9bдин486.4bдин35.5b14x20.4x1.5x
Price to Earnings Ratio


Total Market Cap: дин725.9bTotal Earnings: дин35.5bTotal Revenue: дин486.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Serbian Market Price to Earnings3Y Average 27.9x202120222023
Current Market PE
  • Investors are pessimistic on the Serbian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 3.9x which is lower than its 3-year average PE of 27.9x.
Past Earnings Growth
  • The earnings for Serbian listed companies have grown 45% per year over the last three years.
  • Revenues for these companies have grown 12% 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 Serbian Market?

RS Market-0.26%
Consumer Staples1.14%
Consumer Discretionary0.20%
Real Estate0%
Sector PE
    • The Energy sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
    Forecasted Growth
    • In contrast, the Energy sector is expected to see its earnings decline by 34% per year over the next few years.

    Top Stock Gainers and Losers

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

    CompanyLast Price7D1YValuationSector
    ZTPK Zitopek a.dдин1.99k16.9%
    n/an/aConsumer Staples
    AVEN Autoventil a.dдин1.45k7.5%
    n/aPE4.4xConsumer Discretionary
    TGAS Messer Tehnogas ADдин14.01k0.02%
    UTSI Utva silosi a.dдин4.52k0.4%
    See more
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