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Serbian (BELEX) Market Analysis & Valuation

UpdatedApr 13, 2024
DataAggregated Company Financials
Companies41
  • 7D0.9%
  • 3M11.8%
  • 1Y15.7%
  • YTD3.9%

In the last week, the market has stayed flat, however the Industrials sector stood out, gaining 7.6%. As for the longer term, the market has risen 16% in the past 12 months. Looking forward, earnings are forecast to decline by 2.0% per year.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Apr 2024дин811.8bдин575.7bдин59.1b9.5x13.7x1.4x
Tue, 12 Mar 2024дин329.2bдин575.5bдин59.2b8.5x5.6x0.6x
Thu, 08 Feb 2024дин318.3bдин569.2bдин59.1b7.2x5.4x0.6x
Sat, 06 Jan 2024дин419.0bдин635.2bдин75.5b9.8x5.6x0.7x
Mon, 04 Dec 2023дин422.5bдин635.2bдин75.5b10.2x5.6x0.7x
Wed, 01 Nov 2023дин417.0bдин607.5bдин75.4b9.1x5.5x0.7x
Fri, 29 Sep 2023дин412.5bдин630.1bдин82.7b8.8x5x0.7x
Sun, 27 Aug 2023дин409.6bдин627.3bдин82.0b10.2x5x0.7x
Tue, 25 Jul 2023дин407.1bдин675.5bдин109.3b12.5x3.7x0.6x
Thu, 22 Jun 2023дин407.9bдин677.8bдин109.2b13.7x3.7x0.6x
Sat, 20 May 2023дин431.5bдин648.4bдин103.6b10.2x4.2x0.7x
Mon, 17 Apr 2023дин408.8bдин628.8bдин103.2b8.3x4x0.7x
Wed, 15 Mar 2023дин415.5bдин628.8bдин103.2b8.9x4x0.7x
Fri, 10 Feb 2023дин401.1bдин628.5bдин87.9b8.9x4.6x0.6x
Sun, 08 Jan 2023дин386.2bдин626.6bдин87.9b8.1x4.4x0.6x
Tue, 06 Dec 2022дин331.3bдин580.5bдин72.3b7.8x4.6x0.6x
Thu, 03 Nov 2022дин319.7bдин580.1bдин72.0b8.5x4.4x0.6x
Sat, 01 Oct 2022дин327.0bдин584.8bдин72.1b8.5x4.5x0.6x
Mon, 29 Aug 2022дин328.8bдин582.4bдин72.9b7.8x4.5x0.6x
Wed, 27 Jul 2022дин321.7bдин511.1bдин50.2b5.9x6.4x0.6x
Fri, 24 Jun 2022дин318.2bдин515.6bдин50.2b6.1x6.3x0.6x
Sun, 22 May 2022дин290.0bдин509.4bдин47.2b8.2x6.1x0.6x
Tue, 19 Apr 2022дин314.2bдин460.6bдин34.5b11.4x9.1x0.7x
Thu, 17 Mar 2022дин290.5bдин449.6bдин34.6b9.6x8.4x0.6x
Sat, 12 Feb 2022дин311.9bдин401.0bдин24.9b10x12.5x0.8x
Mon, 10 Jan 2022дин293.5bдин401.0bдин24.9b9.3x11.8x0.7x
Wed, 08 Dec 2021дин289.1bдин401.0bдин24.9b8.4x11.6x0.7x
Fri, 05 Nov 2021дин294.1bдин367.0bдин19.4b11x15.2x0.8x
Sun, 03 Oct 2021дин300.3bдин363.5bдин19.2b13.1x15.6x0.8x
Tue, 31 Aug 2021дин841.2bдин420.1bдин25.3b11.4x33.2x2x
Wed, 07 Jul 2021дин837.6bдин420.1bдин25.3b11.4x33x2x
Price to Earnings Ratio

70.1x


Total Market Cap: дин832.5bTotal Earnings: дин11.9bTotal Revenue: дин379.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Serbian Market Price to Earnings3Y Average 12x202220232024
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 13.7x which is higher than its 3-year average PE of 12.0x.
Past Earnings Growth
  • The earnings for Serbian listed companies have grown 71% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Market0.88%
Industrials7.60%
Consumer Discretionary6.45%
Energy1.05%
Consumer Staples0.15%
Materials0.026%
Real Estate0%
Healthcare0%
Tech0%
Telecom0%
Utilities0%
Financials-3.06%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 153x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • 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 of 2.5x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Energy sector.
  • They expect its earnings to decline by only 2.0% per year over the next 5 years, which isn't as bad as the other sectors.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
AERO Aerodrom Nikola Tesla a.dдин1.95k8.3%
+дин5.2b
2.6%PE272xIndustrials
NIIS Naftna Industrija Srbije a.dдин869.001.0%
+дин1.5b
17.8%PE3.2xEnergy
ENHL Energoprojekt Holding a.dдин350.0010.8%
+дин368.3m
n/aPS0.3xIndustrials
GFOM Gosa Fom a.dдин1.22k23.6%
+дин319.0m
n/aPE10.1xIndustrials
MTLC Metalac a.d. Gornji Milanovacдин1.72k7.4%
+дин230.0m
1.2%PE5.7xConsumer Discretionary
See more
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GFOM

дин1,221.00

Gosa Fom a.d

7D

23.6%

1Y

n/a

BABP

дин1,590.00

Grupa Univerexport Backa AD

7D

17.8%

1Y

n/a

TGAS

дин24,999.00

Messer Tehnogas AD

7D

-0.004%

1Y

79.7%

DNOS

дин1,030.00

Kompanija Dunav Osiguranje a.d.o

7D

-3.2%

1Y

0.5%

ENHL

дин350.00

Energoprojekt Holding a.d

7D

10.8%

1Y

n/a

MTLC

дин1,720.00

Metalac a.d. Gornji Milanovac

7D

7.4%

1Y

1.2%

JESV

дин6,900.00

MPP Jedinstvo a.d

7D

-6.7%

1Y

-8.0%

AERO

дин1,950.00

Aerodrom Nikola Tesla a.d

7D

8.3%

1Y

2.6%

IMPL

дин5,710.00

IMPOL SEVAL Valjaonica Aluminijuma a.d

7D

0.2%

1Y

5.7%

TIGR

дин15.00

Tigar a.d

7D

-21.1%

1Y

-16.7%