Zambian (LSE) Market Analysis & Valuation

UpdatedNov 10, 2025

DataAggregated Company Financials

Companies19

7D-0.3%
3M16.6%
1Y61.4%
YTD65.5%

The Consumer Discretionary sector gained 4.5% while the market remained flat over the last week. As for the longer term, the market has risen 61% in the past 12 months. 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?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 10 Nov 2025	ZK107.6b	ZK69.4b	ZK9.8b	10.2x	10.9x	1.6x
Wed, 08 Oct 2025	ZK107.7b	ZK69.8b	ZK10.2b	10x	10.6x	1.5x
Fri, 05 Sep 2025	ZK105.0b	ZK71.9b	ZK10.2b	9.6x	10.3x	1.5x
Sun, 03 Aug 2025	ZK91.1b	ZK67.2b	ZK9.4b	7.6x	9.7x	1.4x
Tue, 01 Jul 2025	ZK87.3b	ZK67.9b	ZK9.6b	7.2x	9.1x	1.3x
Thu, 29 May 2025	ZK77.9b	ZK67.3b	ZK10.0b	5.9x	7.8x	1.2x
Sat, 26 Apr 2025	ZK73.3b	ZK72.5b	ZK9.3b	5.4x	7.9x	1x
Mon, 24 Mar 2025	ZK67.7b	ZK67.1b	ZK9.2b	6.9x	7.4x	1x
Wed, 19 Feb 2025	ZK68.1b	ZK63.9b	ZK8.7b	6.7x	7.9x	1.1x
Fri, 17 Jan 2025	ZK67.9b	ZK63.3b	ZK9.0b	6.3x	7.6x	1.1x
Sun, 15 Dec 2024	ZK69.8b	ZK63.3b	ZK9.0b	6.8x	7.8x	1.1x
Tue, 12 Nov 2024	ZK71.1b	ZK61.4b	ZK8.8b	6.6x	8.1x	1.2x
Thu, 10 Oct 2024	ZK70.6b	ZK59.3b	ZK7.6b	8.4x	9.3x	1.2x
Sat, 07 Sep 2024	ZK67.6b	ZK58.7b	ZK7.9b	8.1x	8.6x	1.2x
Mon, 05 Aug 2024	ZK64.2b	ZK57.2b	ZK9.7b	6.6x	6.6x	1.1x
Wed, 03 Jul 2024	ZK61.5b	ZK56.5b	ZK9.5b	6.3x	6.5x	1.1x
Fri, 31 May 2024	ZK58.0b	ZK57.1b	ZK9.8b	6.4x	5.9x	1x
Sun, 28 Apr 2024	ZK56.7b	ZK54.3b	ZK10.3b	6.5x	5.5x	1x
Tue, 26 Mar 2024	ZK55.6b	ZK54.0b	ZK10.0b	6.6x	5.6x	1x
Thu, 22 Feb 2024	ZK51.6b	ZK51.7b	ZK8.2b	10.3x	6.3x	1x
Sat, 20 Jan 2024	ZK48.4b	ZK52.0b	ZK8.4b	10.3x	5.8x	0.9x
Mon, 18 Dec 2023	ZK48.1b	ZK50.3b	ZK8.2b	5.7x	5.9x	1x
Wed, 15 Nov 2023	ZK47.6b	ZK48.9b	ZK7.7b	7.1x	6.2x	1x
Fri, 13 Oct 2023	ZK42.4b	ZK46.5b	ZK7.1b	5.5x	6x	0.9x
Sun, 10 Sep 2023	ZK40.6b	ZK46.2b	ZK7.0b	5.5x	5.8x	0.9x
Tue, 08 Aug 2023	ZK37.3b	ZK36.7b	ZK4.8b	8.3x	7.8x	1x
Thu, 06 Jul 2023	ZK36.8b	ZK36.8b	ZK4.9b	8.9x	7.5x	1x
Sat, 03 Jun 2023	ZK36.8b	ZK37.8b	ZK5.2b	7.6x	7x	1x
Mon, 01 May 2023	ZK35.9b	ZK36.2b	ZK4.9b	7.5x	7.3x	1x
Wed, 29 Mar 2023	ZK33.3b	ZK37.1b	ZK4.2b	8.5x	7.9x	0.9x
Fri, 24 Feb 2023	ZK32.9b	ZK35.4b	ZK4.2b	7.5x	7.9x	0.9x
Sun, 22 Jan 2023	ZK32.8b	ZK32.6b	ZK3.4b	8.5x	9.6x	1x
Tue, 20 Dec 2022	ZK33.3b	ZK37.3b	ZK3.5b	7.5x	9.4x	0.9x
Thu, 17 Nov 2022	ZK32.7b	ZK36.9b	ZK3.7b	6.5x	8.8x	0.9x

Price to Earnings Ratio

8.8x

Thu, 17 Nov 2022

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 10.9x which is higher than its 3-year average PE of 7.6x.

Past Earnings Growth

The earnings for Zambian listed companies have grown 38% 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	-0.32%
Consumer Discretionary	4.48%
Materials	0.017%
Real Estate	0%	0
Consumer Staples	0%	0
Industrials	-0.015%
Utilities	-0.17%
Financials	-0.45%
Energy	-1.38%
Telecom	-1.61%

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 28.0x.

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.