Serbian (BELEX) Market Analysis & Valuation

UpdatedJun 03, 2023

DataAggregated Company Financials

Companies96

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?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 04 Jun 2023	дин426.9b	дин677.5b	дин109.2b	11.3x	3.9x	0.6x
Tue, 02 May 2023	дин420.3b	дин629.1b	дин103.4b	8.8x	4.1x	0.7x
Thu, 30 Mar 2023	дин413.2b	дин628.8b	дин103.2b	8.8x	4x	0.7x
Sat, 25 Feb 2023	дин407.5b	дин656.4b	дин103.2b	8.6x	3.9x	0.6x
Mon, 23 Jan 2023	дин388.4b	дин627.3b	дин87.9b	9.3x	4.4x	0.6x
Wed, 21 Dec 2022	дин332.3b	дин648.0b	дин90.8b	6.9x	3.7x	0.5x
Fri, 18 Nov 2022	дин329.2b	дин580.3b	дин72.2b	7.6x	4.6x	0.6x
Sun, 16 Oct 2022	дин324.7b	дин584.8b	дин72.1b	8.5x	4.5x	0.6x
Tue, 13 Sep 2022	дин329.0b	дин582.9b	дин73.0b	7.8x	4.5x	0.6x
Thu, 11 Aug 2022	дин325.5b	дин583.7b	дин73.0b	7.6x	4.5x	0.6x
Sat, 09 Jul 2022	дин322.0b	дин510.9b	дин50.2b	5.7x	6.4x	0.6x
Mon, 06 Jun 2022	дин320.7b	дин513.8b	дин47.5b	8.1x	6.8x	0.6x
Wed, 04 May 2022	дин292.1b	дин462.1b	дин34.3b	10.1x	8.5x	0.6x
Fri, 01 Apr 2022	дин307.2b	дин448.4b	дин34.6b	10.3x	8.9x	0.7x
Sun, 27 Feb 2022	дин303.6b	дин449.6b	дин34.6b	9.4x	8.8x	0.7x
Tue, 25 Jan 2022	дин309.5b	дин401.0b	дин24.9b	10x	12.4x	0.8x
Thu, 23 Dec 2021	дин296.0b	дин401.0b	дин24.9b	8.4x	11.9x	0.7x
Sat, 20 Nov 2021	дин297.3b	дин402.1b	дин24.7b	8.4x	12x	0.7x
Mon, 18 Oct 2021	дин294.1b	дин366.6b	дин19.3b	13x	15.2x	0.8x
Wed, 15 Sep 2021	дин280.8b	дин360.3b	дин19.6b	13.1x	14.3x	0.8x
Fri, 13 Aug 2021	дин839.5b	дин420.1b	дин25.3b	11.4x	33.1x	2x
Tue, 08 Jun 2021	дин833.8b	дин379.9b	дин11.9b	12.9x	70.2x	2.2x
Mon, 01 Mar 2021	дин827.2b	дин387.9b	дин8.9b	15.3x	92.5x	2.1x
Thu, 03 Dec 2020	дин800.4b	дин424.8b	дин15.2b	12x	52.7x	1.9x
Sun, 06 Sep 2020	дин789.9b	дин454.6b	дин21.9b	14.8x	36.1x	1.7x
Wed, 10 Jun 2020	дин725.9b	дин486.4b	дин35.5b	14x	20.4x	1.5x

Price to Earnings Ratio

20.4x

Wed, 10 Jun 2020

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 Staples	1.14%
Consumer Discretionary	0.20%
Materials	0.025%
Energy	0%
Real Estate	0%
Healthcare	0%
Tech	0%
Telecom	0%
Utilities	0%
Industrials	-0.048%
Financials	-1.09%

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?

Company	Last Price	7D	1Y	Valuation	Sector
ZTPK Zitopek a.d	дин1.99k	16.9% +дин71.1m	n/a	n/a	Consumer Staples
AVEN Autoventil a.d	дин1.45k	7.5% +дин14.7m	n/a	PE4.4x	Consumer Discretionary
TGAS Messer Tehnogas AD	дин14.01k	0.02% +дин3.1m	-6.6%	PE6.3x	Materials
UTSI Utva silosi a.d	дин4.52k	0.4% +дин3.0m	n/a	n/a	Materials