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Serbian (BELEX) Market Analysis & Valuation
UpdatedApr 29, 2025
DataAggregated Company Financials
Companies34
- 7D-0.4%
- 3M6.5%
- 1Y20.0%
- YTD4.4%
The market has stayed flat over the 7 days. More promisingly, the market is up 20% over the past year.
Market Valuation and Performance
Has the Serbian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 29 Apr 2025 | дин188.3b | дин119.7b | дин9.4b | 7.6x | 20x | 1.6x |
| Thu, 27 Mar 2025 | дин299.2b | дин525.6b | дин20.2b | 8x | 14.8x | 0.6x |
| Sat, 22 Feb 2025 | дин297.7b | дин527.7b | дин20.2b | 8.2x | 14.8x | 0.6x |
| Mon, 20 Jan 2025 | дин356.9b | дин564.9b | дин37.0b | 8.3x | 9.6x | 0.6x |
| Wed, 18 Dec 2024 | дин349.8b | дин557.0b | дин36.8b | 8.2x | 9.5x | 0.6x |
| Fri, 15 Nov 2024 | дин371.7b | дин558.3b | дин36.6b | 7.8x | 10.1x | 0.7x |
| Sun, 13 Oct 2024 | дин364.3b | дин574.8b | дин52.3b | 7.7x | 7x | 0.6x |
| Tue, 10 Sep 2024 | дин362.7b | дин572.9b | дин51.4b | 7.8x | 7.1x | 0.6x |
| Thu, 08 Aug 2024 | дин339.2b | дин571.5b | дин51.0b | 7.5x | 6.6x | 0.6x |
| Sat, 06 Jul 2024 | дин333.2b | дин543.1b | дин48.2b | 7.5x | 6.9x | 0.6x |
| Mon, 03 Jun 2024 | дин808.3b | дин567.0b | дин50.1b | 7.4x | 16.1x | 1.4x |
| Wed, 01 May 2024 | дин765.9b | дин546.1b | дин52.8b | 7.9x | 14.5x | 1.4x |
| Fri, 29 Mar 2024 | дин333.6b | дин575.7b | дин59.2b | 8.1x | 5.6x | 0.6x |
| Sun, 25 Feb 2024 | дин319.5b | дин570.6b | дин59.0b | 8x | 5.4x | 0.6x |
| Tue, 23 Jan 2024 | дин420.1b | дин635.2b | дин75.5b | 9.8x | 5.6x | 0.7x |
| Thu, 21 Dec 2023 | дин420.0b | дин635.2b | дин75.5b | 10.2x | 5.6x | 0.7x |
| Sat, 18 Nov 2023 | дин414.1b | дин635.2b | дин75.5b | 9.8x | 5.5x | 0.7x |
| Mon, 16 Oct 2023 | дин418.7b | дин630.8b | дин82.9b | 8.5x | 5.1x | 0.7x |
| Wed, 13 Sep 2023 | дин411.3b | дин625.1b | дин81.7b | 10.3x | 5x | 0.7x |
| Fri, 11 Aug 2023 | дин400.3b | дин626.3b | дин82.0b | 9.8x | 4.9x | 0.6x |
| Sun, 09 Jul 2023 | дин404.9b | дин677.1b | дин109.2b | 11.1x | 3.7x | 0.6x |
| Tue, 06 Jun 2023 | дин427.0b | дин678.5b | дин109.2b | 11.3x | 3.9x | 0.6x |
| Thu, 04 May 2023 | дин421.3b | дин629.1b | дин103.4b | 8.8x | 4.1x | 0.7x |
| Sat, 01 Apr 2023 | дин413.6b | дин628.8b | дин103.2b | 8.8x | 4x | 0.7x |
| Mon, 27 Feb 2023 | дин407.5b | дин628.8b | дин103.2b | 8.6x | 3.9x | 0.6x |
| Wed, 25 Jan 2023 | дин392.0b | дин627.4b | дин87.9b | 9.5x | 4.5x | 0.6x |
| Fri, 23 Dec 2022 | дин333.3b | дин648.0b | дин90.8b | 7x | 3.7x | 0.5x |
| Sun, 20 Nov 2022 | дин329.1b | дин580.5b | дин72.3b | 7.6x | 4.6x | 0.6x |
| Tue, 18 Oct 2022 | дин324.7b | дин584.8b | дин72.1b | 8.5x | 4.5x | 0.6x |
| Thu, 15 Sep 2022 | дин329.1b | дин582.9b | дин73.0b | 7.6x | 4.5x | 0.6x |
| Sat, 13 Aug 2022 | дин328.1b | дин583.7b | дин73.0b | 7.6x | 4.5x | 0.6x |
| Mon, 11 Jul 2022 | дин322.1b | дин510.9b | дин50.2b | 5.7x | 6.4x | 0.6x |
| Wed, 08 Jun 2022 | дин321.4b | дин513.8b | дин47.5b | 8.1x | 6.8x | 0.6x |
| Fri, 06 May 2022 | дин287.8b | дин462.1b | дин34.3b | 10.1x | 8.4x | 0.6x |
Price to Earnings Ratio
8.4x
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 20.0x which is higher than its 3-year average PE of 7.3x.
Past Earnings Growth
- The earnings for companies in the Serbian industry have declined 35% per year over the last three years.
- Revenues have also declined 36% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Sector Trends
Which sectors have driven the changes within the Serbian Market?
| RS Market | -0.43% | |
| Consumer Discretionary | 1.98% | |
| Tech | 0.05% | |
| Energy | 0% | 0 |
| Real Estate | 0% | 0 |
| Consumer Staples | 0% | 0 |
| Healthcare | 0% | 0 |
| Telecom | 0% | 0 |
| Industrials | -0.005% | |
| Financials | -0.65% | |
| Utilities | -0.79% | |
| Materials | -1.32% | |
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 161x.
- 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 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 | |
|---|---|---|---|---|---|---|
| LSTA Lasta a.d | дин601.00 | 54.5% +дин487.6m | 6.0% | n/a | Industrials | |
| TGAS Messer Tehnogas AD | дин34.40k | 1.2% +дин410.8m | 37.6% | PE7.8x | Materials | |
| ENHL Energoprojekt Holding a.d | дин431.00 | 2.1% +дин97.5m | 14.9% | PS0.4x | Industrials | |
| MTLC Metalac a.d. Gornji Milanovac | дин2.00k | 2.6% +дин96.7m | 12.4% | PE4.9x | Consumer Discretionary | |
| IRTL Iritel a.d | дин1.49k | 14.8% +дин56.0m | 10.6% | n/a | Tech |