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Zambian (LSE) Market Analysis & Valuation

UpdatedOct 18, 2025
DataAggregated Company Financials
Companies19
  • 7D-1.3%
  • 3M19.2%
  • 1Y56.8%
  • YTD63.6%

Over the last 7 days, the market has dropped 2.6%, driven by a loss of 6.9% in the Utilities sector. In contrast to the last week, the market is actually up 55% over the past year. Looking forward, earnings are forecast to grow by 28% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 18 Oct 2025ZK105.2bZK69.1bZK10.1b10x10.4x1.5x
Mon, 15 Sep 2025ZK105.7bZK71.8bZK10.2b9.7x10.4x1.5x
Wed, 13 Aug 2025ZK92.0bZK67.3bZK9.5b8.1x9.7x1.4x
Fri, 11 Jul 2025ZK85.9bZK67.6bZK9.5b7.2x9x1.3x
Sun, 08 Jun 2025ZK81.5bZK67.4bZK9.5b7.1x8.5x1.2x
Tue, 06 May 2025ZK69.9bZK67.9bZK10.1b5.4x6.9x1x
Thu, 03 Apr 2025ZK72.3bZK70.7bZK8.8b6.9x8.2x1x
Sat, 01 Mar 2025ZK68.1bZK64.1bZK8.7b6.8x7.8x1.1x
Mon, 27 Jan 2025ZK68.0bZK63.3bZK9.0b6.3x7.6x1.1x
Wed, 25 Dec 2024ZK68.8bZK63.3bZK9.0b6.5x7.7x1.1x
Fri, 22 Nov 2024ZK70.1bZK61.6bZK8.8b6.7x7.9x1.1x
Sun, 20 Oct 2024ZK71.9bZK59.4bZK7.6b8.2x9.4x1.2x
Tue, 17 Sep 2024ZK70.7bZK58.8bZK7.9b8.4x9x1.2x
Thu, 15 Aug 2024ZK63.7bZK57.3bZK9.8b6.8x6.5x1.1x
Sat, 13 Jul 2024ZK64.6bZK57.1bZK9.7b6.6x6.7x1.1x
Mon, 10 Jun 2024ZK58.0bZK56.8bZK9.8b6.4x5.9x1x
Wed, 08 May 2024ZK56.7bZK54.5bZK10.3b6.5x5.5x1x
Fri, 05 Apr 2024ZK56.3bZK53.2bZK9.7b6.7x5.8x1.1x
Sun, 03 Mar 2024ZK53.3bZK52.2bZK8.3b8.5x6.4x1x
Tue, 30 Jan 2024ZK48.7bZK52.3bZK8.4b10.2x5.8x0.9x
Thu, 28 Dec 2023ZK47.6bZK50.7bZK8.3b5.9x5.7x0.9x
Sat, 25 Nov 2023ZK47.5bZK49.1bZK7.7b7.1x6.1x1x
Mon, 23 Oct 2023ZK43.5bZK46.6bZK7.1b5.8x6.1x0.9x
Wed, 20 Sep 2023ZK40.8bZK46.2bZK7.0b5.5x5.8x0.9x
Fri, 18 Aug 2023ZK38.8bZK36.8bZK4.8b8.3x8.1x1.1x
Sun, 16 Jul 2023ZK36.8bZK37.3bZK5.0b8.5x7.4x1x
Tue, 13 Jun 2023ZK36.6bZK37.7bZK5.2b7.6x7x1x
Thu, 11 May 2023ZK36.4bZK37.2bZK5.2b7.9x7.1x1x
Sat, 08 Apr 2023ZK35.4bZK36.8bZK4.6b8.1x7.8x1x
Mon, 06 Mar 2023ZK33.2bZK35.5bZK4.2b7.5x7.9x0.9x
Wed, 01 Feb 2023ZK32.8bZK32.7bZK3.4b8.5x9.5x1x
Fri, 30 Dec 2022ZK33.3bZK32.4bZK3.5b6.5x9.6x1x
Sun, 27 Nov 2022ZK32.4bZK37.0bZK3.8b6.5x8.5x0.9x
Tue, 25 Oct 2022ZK32.7bZK36.7bZK3.8b6.5x8.7x0.9x
Price to Earnings Ratio

8.7x


Total Market Cap: ZK32.7bTotal Earnings: ZK3.8bTotal Revenue: ZK36.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Zambian Market Price to Earnings3Y Average 7.6x202320242025
Current Market PE
  • Investors are optimistic on the Zambian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 10.7x which is higher than its 3-year average PE of 7.6x.
Past Earnings Growth
  • The earnings for Zambian listed companies have grown 39% per year over the last three years.
  • Revenues for these companies have grown 23% 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 Zambian Market?

ZM Market-1.27%
Industrials1.54%
Materials0.44%
Financials0.017%
Telecom0.0071%
Real Estate0%0
Consumer Discretionary0%0
Consumer Staples-0.013%
Energy-0.23%
Utilities-3.71%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth even though it's trading below its 3-year average PE ratio of 27.5x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Staples sector, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 28% 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
CHIL Chilanga CementK38.470.6%
+K46.0m
57.0%PE12.9xMaterials
ZMFA Metal Fabricators of ZambiaK66.001.5%
+K27.1m
1,217.4%PE8.7xIndustrials
SCBL Standard Chartered Bank ZambiaK2.600.4%
+K16.7m
-29.0%PB3.9xFinancials
ZFCO Zambia Forestry and Forest IndustriesK3.450.3%
+K4.0m
n/aPE1.9xMaterials
ATEL Airtel Networks ZambiaK140.000.007%
+K1.0m
221.8%PE9.7xTelecom
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