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Serbian (BELEX) Market Analysis & Valuation

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies41
  • 7D0.7%
  • 3M5.8%
  • 1Y6.2%
  • YTD4.9%

The market has been flat over the last week. As for the longer term, the market has risen 6.2% in the past 12 months. In the next few years, earnings are forecast to decline by 13% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024дин330.3bдин574.0bдин59.2b8.4x5.6x0.6x
Thu, 15 Feb 2024дин319.0bдин569.0bдин59.1b7.8x5.4x0.6x
Sat, 13 Jan 2024дин420.0bдин635.2bдин75.5b9.8x5.6x0.7x
Mon, 11 Dec 2023дин417.4bдин635.2bдин75.5b10.2x5.5x0.7x
Wed, 08 Nov 2023дин417.9bдин635.2bдин75.5b10.2x5.5x0.7x
Fri, 06 Oct 2023дин421.8bдин630.8bдин82.9b8.8x5.1x0.7x
Sun, 03 Sep 2023дин408.2bдин627.2bдин82.0b10.2x5x0.7x
Tue, 01 Aug 2023дин400.2bдин677.6bдин108.1b12.9x3.7x0.6x
Thu, 29 Jun 2023дин406.7bдин677.8bдин109.2b13.7x3.7x0.6x
Sat, 27 May 2023дин431.3bдин647.7bдин103.1b13.2x4.2x0.7x
Mon, 24 Apr 2023дин416.5bдин628.8bдин103.2b8.4x4x0.7x
Wed, 22 Mar 2023дин415.8bдин628.8bдин103.2b9x4x0.7x
Fri, 17 Feb 2023дин401.5bдин628.5bдин87.9b8.8x4.6x0.6x
Sun, 15 Jan 2023дин390.1bдин626.6bдин87.9b8.4x4.4x0.6x
Tue, 13 Dec 2022дин331.4bдин648.0bдин90.8b6.9x3.7x0.5x
Thu, 10 Nov 2022дин326.8bдин580.1bдин72.0b8.5x4.5x0.6x
Sat, 08 Oct 2022дин326.0bдин584.8bдин72.1b8.5x4.5x0.6x
Mon, 05 Sep 2022дин329.0bдин582.4bдин72.9b7.8x4.5x0.6x
Wed, 03 Aug 2022дин324.9bдин512.6bдин49.5b6.7x6.6x0.6x
Fri, 01 Jul 2022дин321.9bдин515.6bдин50.2b6.1x6.4x0.6x
Sun, 29 May 2022дин313.2bдин513.8bдин47.5b9.8x6.6x0.6x
Tue, 26 Apr 2022дин291.7bдин460.6bдин34.4b10.1x8.5x0.6x
Thu, 24 Mar 2022дин296.7bдин449.6bдин34.6b10.2x8.6x0.7x
Sat, 19 Feb 2022дин311.7bдин402.2bдин27.7b10x11.2x0.8x
Mon, 17 Jan 2022дин294.6bдин401.0bдин24.9b10x11.8x0.7x
Wed, 15 Dec 2021дин286.6bдин401.0bдин24.9b8.4x11.5x0.7x
Fri, 12 Nov 2021дин296.3bдин402.1bдин24.7b8.4x12x0.7x
Sun, 10 Oct 2021дин299.0bдин366.6bдин19.4b13x15.4x0.8x
Tue, 07 Sep 2021дин281.4bдин360.3bдин19.6b13.1x14.3x0.8x
Thu, 05 Aug 2021дин833.8bдин420.1bдин25.3b11.2x32.9x2x
Sun, 09 May 2021дин832.5bдин379.9bдин11.9b12.4x70.1x2.2x
Price to Earnings Ratio

70.1x


Total Market Cap: дин832.6bTotal Earnings: дин11.9bTotal Revenue: дин379.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Serbian Market Price to Earnings3Y Average 13.7x202220232024
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 5.6x which is lower than its 3-year average PE of 13.7x.
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 Market0.70%
Materials1.78%
Energy1.11%
Industrials0.52%
Real Estate0%
Consumer Discretionary0%
Consumer Staples0%
Healthcare0%
Tech0%
Telecom0%
Utilities0%
Financials-0.75%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 156x.
    • 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 1.9x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Energy sector.
  • They expect its earnings to decline by only 13% per year over the next 5 years, which isn't as bad as the other sectors.
  • This is an improvement from its past earnings decline of 52% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 13% 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
NIIS Naftna Industrija Srbije a.dдин850.004.4%
+дин5.9b
9.7%PE3.1xEnergy
TGAS Messer Tehnogas ADдин23.68k1.7%
+дин418.8m
78.1%PE9xMaterials
LSTA Lasta a.dдин568.002.3%
+дин29.9m
3.3%n/aIndustrials
GFOM Gosa Fom a.dдин730.000.8%
+дин8.2m
n/aPE6xIndustrials
See more
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