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Zambian (LSE) Market Analysis & Valuation

UpdatedMar 19, 2024
DataAggregated Company Financials
Companies19
  • 7D0.7%
  • 3M15.6%
  • 1Y71.4%
  • YTD15.5%

Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. More promisingly, the market is up 71% over the past year. As for the next few years, earnings are expected to grow by 34% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024ZK55.0bZK53.5bZK11.2b6.6x4.9x1x
Thu, 15 Feb 2024ZK50.0bZK53.1bZK8.7b10.3x5.8x0.9x
Sat, 13 Jan 2024ZK48.3bZK51.9bZK8.3b10.3x5.8x0.9x
Mon, 11 Dec 2023ZK49.3bZK50.1bZK8.1b5.7x6.1x1x
Wed, 08 Nov 2023ZK44.1bZK48.0bZK7.7b5.8x5.8x0.9x
Fri, 06 Oct 2023ZK41.6bZK46.4bZK7.1b5.5x5.9x0.9x
Sun, 03 Sep 2023ZK38.8bZK46.0bZK6.9b5.5x5.6x0.8x
Tue, 01 Aug 2023ZK37.3bZK36.6bZK4.8b8.4x7.8x1x
Thu, 29 Jun 2023ZK36.7bZK35.4bZK4.8b9x7.7x1x
Sat, 27 May 2023ZK36.4bZK37.6bZK5.2b7.7x7x1x
Mon, 24 Apr 2023ZK35.9bZK36.0bZK4.8b7.8x7.4x1x
Wed, 22 Mar 2023ZK33.2bZK35.8bZK4.2b7.5x7.9x0.9x
Fri, 17 Feb 2023ZK32.8bZK35.2bZK4.2b7.5x7.9x0.9x
Sun, 15 Jan 2023ZK32.8bZK32.5bZK3.4b8.5x9.6x1x
Tue, 13 Dec 2022ZK33.1bZK37.2bZK3.5b7.5x9.4x0.9x
Thu, 10 Nov 2022ZK32.4bZK36.9bZK3.8b6.5x8.6x0.9x
Sat, 08 Oct 2022ZK32.7bZK31.4bZK3.7b5.9x8.9x1x
Mon, 05 Sep 2022ZK32.0bZK30.9bZK3.6b5.9x8.9x1x
Wed, 03 Aug 2022ZK31.1bZK31.1bZK3.6b5.8x8.6x1x
Fri, 01 Jul 2022ZK29.8bZK37.7bZK3.9b5.8x7.7x0.8x
Sun, 29 May 2022ZK29.5bZK37.6bZK3.8b5.8x7.8x0.8x
Tue, 26 Apr 2022ZK29.7bZK37.0bZK4.2b5.1x7.1x0.8x
Thu, 24 Mar 2022ZK27.4bZK31.8bZK3.4b5.4x8.1x0.9x
Sat, 19 Feb 2022ZK25.5bZK31.7bZK3.3b5.4x7.6x0.8x
Mon, 17 Jan 2022ZK25.1bZK31.6bZK3.3b5.4x7.6x0.8x
Wed, 15 Dec 2021ZK22.2bZK30.5bZK3.1b6x7.2x0.7x
Fri, 12 Nov 2021ZK20.1bZK29.3bZK2.7b6.5x7.4x0.7x
Sun, 10 Oct 2021ZK18.5bZK28.3bZK2.4b5.1x7.8x0.7x
Tue, 07 Sep 2021ZK16.9bZK31.6bZK2.7b5.9x6.3x0.5x
Thu, 05 Aug 2021ZK16.0bZK31.9bZK1.5b7.3x11x0.5x
Sun, 09 May 2021ZK13.8bZK31.7bZK1.4b4.9x9.8x0.4x
Price to Earnings Ratio

9.6x


Total Market Cap: ZK13.4bTotal Earnings: ZK1.4bTotal Revenue: ZK31.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Zambian Market Price to Earnings3Y Average 8x202220232024
Current Market PE
  • Investors are pessimistic on the Zambian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 4.9x which is lower than its 3-year average PE of 8.0x.
Past Earnings Growth
  • The earnings for Zambian listed companies have grown 100% per year over the last three years.
  • Revenues for these companies have grown 19% 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 Market0.69%
Financials2.35%
Utilities0.37%
Energy0%
Real Estate0%
Materials0%
Industrials0%
Consumer Discretionary0%
Consumer Staples0%
Healthcare0%
Tech0%
Telecom0%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 3.9x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Materials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 13.6x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Staples sector, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 5.7% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow 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?

CompanyLast Price7D1YValuationSector
ZANACO Zambia National Commercial BankK6.303.8%
+K332.1m
103.2%PB1.9xFinancials
CEC Copperbelt EnergyK7.700.3%
+K32.5m
104.8%PE3.6xUtilities
CCFA CEC Africa InvestmentsK0.462.2%
+K16.3m
-27.0%n/aUtilities
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Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

Latest News

CEC

K7.70

Copperbelt Energy

7D

0.3%

1Y

104.8%

ZANACO

K6.30

Zambia National Commercial Bank

7D

3.8%

1Y

103.2%

CCFA

K0.46

CEC Africa Investments

7D

2.2%

1Y

-27.0%