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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies37
  • 7D-0.2%
  • 3M26.0%
  • 1Y25.2%
  • YTD23.1%

In the last week, the market has been flat. As for the longer term, the market has risen 25% in the past 12 months.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025Z$74.6bZ$71.4bZ$7.6b310.8x9.8x1x
Mon, 17 Nov 2025Z$52.5bZ$68.7bZ$8.3b414x6.3x0.8x
Wed, 15 Oct 2025Z$58.0bZ$66.7bZ$8.2b376.7x7x0.9x
Fri, 12 Sep 2025Z$63.8bZ$77.0bZ$8.1b1120x7.9x0.8x
Sun, 10 Aug 2025Z$153.5bZ$74.7bZ$8.5b1200.1x18.2x2.1x
Tue, 08 Jul 2025Z$19.0bZ$4.5bZ$3.5b1176.4x5.4x4.2x
Thu, 05 Jun 2025Z$19.5bZ$1.3bZ$1.6b1229.4x12.3x14.7x
Sat, 03 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 31 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 26 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 24 Jan 2025Z$19.2bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 22 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 19 Nov 2024Z$28.4bZ$993.6bZ$87.3b0.3x0.3x0.03x
Thu, 17 Oct 2024Z$28.4bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sat, 14 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Mon, 12 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Wed, 10 Jul 2024Z$16.3bZ$1.0tZ$80.2b0.4x0.2x0.02x
Fri, 07 Jun 2024Z$11.4bZ$1.0tZ$80.2b0.3x0.1x0.01x
Sun, 05 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Tue, 02 Apr 2024Z$23.9tZ$1.9tZ$382.6b63.6x62.4x12.7x
Thu, 29 Feb 2024Z$12.8tZ$1.9tZ$383.0b31.5x33.5x6.8x
Sat, 27 Jan 2024Z$12.6tZ$1.5tZ$348.2b31.9x36.3x8.3x
Mon, 25 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Wed, 22 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Fri, 20 Oct 2023Z$1.0tZ$305.6bZ$13.4b41.8x76.1x3.3x
Sun, 17 Sep 2023Z$961.5bZ$305.0bZ$13.0b31.2x74.1x3.2x
Tue, 15 Aug 2023Z$842.3bZ$305.0bZ$13.0b25.1x64.9x2.8x
Thu, 13 Jul 2023Z$886.8bZ$305.0bZ$13.0b24.8x68.3x2.9x
Sat, 10 Jun 2023Z$898.6bZ$288.8bZ$10.8b23x83.2x3.1x
Mon, 08 May 2023Z$523.9bZ$235.2bZ$17.9b48x29.2x2.2x
Wed, 05 Apr 2023Z$464.3bZ$226.8bZ$17.6b30.9x26.3x2x
Fri, 03 Mar 2023Z$455.7bZ$226.8bZ$17.6b30.9x25.9x2x
Sun, 29 Jan 2023Z$371.3bZ$185.8bZ$15.3b30.6x24.2x2x
Tue, 27 Dec 2022Z$331.1bZ$186.2bZ$13.2b24.2x25x1.8x
Price to Earnings Ratio

25x


Total Market Cap: Z$331.1bTotal Earnings: Z$13.2bTotal Revenue: Z$186.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 23x202320242025
Current Market PE
  • Investors are pessimistic on the Zimbabwean market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 9.8x which is lower than its 3-year average PE of 23.0x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 17% per year over the last three years.
  • Revenues have also declined 27% 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 Zimbabwean Market?

ZW Market-0.24%
Industrials0.89%
Consumer Staples0.89%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Materials-1.34%
Financials-1.69%
Sector PE
  • Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 105x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
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?

CompanyLast Price7D1YValuationSector
DLTA DeltaUS$19.411.9%
+US$472.1m		36.6%PE1333.1xConsumer Staples
NPKZ Nampak ZimbabweUS$0.804.6%
+US$26.4m		-38.5%PE599.5xMaterials
PROL ProplasticsUS$0.9811.0%
+US$25.1m		-43.9%PE22.1xIndustrials
ZSEH Zimbabwe Stock Exchange HoldingsUS$0.9916.4%
+US$14.3m		n/an/aFinancials
TNCI TN CyberTech Investments HoldingsUS$0.110.1%
+US$687.9k		-64.3%PE0.4xFinancials
See more

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ZSEH
US$0.99
Zimbabwe Stock Exchange Holdings
7D
16.4%
1Y
n/a
NPKZ
US$0.80
Nampak Zimbabwe
7D
4.6%
1Y
-38.5%
PROL
US$0.98
Proplastics
7D
11.0%
1Y
-43.9%
TNCI
US$0.11
TN CyberTech Investments Holdings
7D
0.1%
1Y
-64.3%
DLTA
US$19.41
Delta
7D
1.9%
1Y
36.6%