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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.04%
  • 3M0.5%
  • 1Y91.3%
  • YTD27.3%

In the last week, the market has stayed flat, however the Industrials sector stood out, gaining 9.1%. Meanwhile, the market is actually up 91% over the past year. Earnings are forecast to grow by 8.5% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 24 Apr 2026Z$107.0bZ$63.8bZ$8.0b1853.5x13.4x1.7x
Sun, 22 Mar 2026Z$102.4bZ$74.5bZ$7.8b15.5x13.1x1.4x
Tue, 17 Feb 2026Z$105.1bZ$74.5bZ$7.8b16.9x13.4x1.4x
Thu, 15 Jan 2026Z$104.8bZ$74.5bZ$7.8b15.7x13.4x1.4x
Sat, 13 Dec 2025Z$74.7bZ$70.8bZ$7.7b296.6x9.7x1.1x
Mon, 10 Nov 2025Z$64.5bZ$64.0bZ$6.1b327.2x10.7x1x
Wed, 08 Oct 2025Z$58.5bZ$73.1bZ$8.5b387x6.9x0.8x
Fri, 05 Sep 2025Z$63.9bZ$77.0bZ$8.1b1214.3x7.9x0.8x
Sun, 03 Aug 2025Z$157.0bZ$74.7bZ$8.5b1199.3x18.6x2.1x
Tue, 01 Jul 2025Z$18.9bZ$4.5bZ$3.5b1097.7x5.4x4.2x
Thu, 29 May 2025Z$19.5bZ$1.3bZ$1.6b1229.6x12.3x14.6x
Sat, 26 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 24 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 19 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 17 Jan 2025Z$19.3bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 15 Dec 2024Z$20.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 12 Nov 2024Z$28.0bZ$998.5bZ$87.3b0.3x0.3x0.03x
Thu, 10 Oct 2024Z$24.3bZ$986.0bZ$80.0b0.3x0.3x0.02x
Sat, 07 Sep 2024Z$21.9bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 05 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Wed, 03 Jul 2024Z$13.5bZ$1.0tZ$80.2b0.4x0.2x0.01x
Fri, 31 May 2024Z$11.3bZ$1.0tZ$80.2b0.3x0.1x0.01x
Sun, 28 Apr 2024Z$24.7tZ$2.3tZ$382.6b64.9x64.6x10.7x
Tue, 26 Mar 2024Z$20.7tZ$1.9tZ$383.0b54.5x54x11x
Thu, 22 Feb 2024Z$11.2tZ$1.9tZ$383.0b26.8x29.2x5.9x
Sat, 20 Jan 2024Z$9.8tZ$1.5tZ$348.2b30.9x28.3x6.4x
Mon, 18 Dec 2023Z$5.0tZ$1.5tZ$348.2b30.9x14.4x3.3x
Wed, 15 Nov 2023Z$962.1bZ$413.7bZ$13.1b41.8x73.2x2.3x
Fri, 13 Oct 2023Z$1.0tZ$305.6bZ$13.4b43.8x77.4x3.4x
Sun, 10 Sep 2023Z$910.0bZ$305.0bZ$13.0b29.8x70.1x3x
Tue, 08 Aug 2023Z$812.9bZ$305.0bZ$13.0b24.2x62.6x2.7x
Thu, 06 Jul 2023Z$951.2bZ$305.0bZ$13.0b22.8x73.3x3.1x
Sat, 03 Jun 2023Z$769.2bZ$235.7bZ$17.9b30.9x43.1x3.3x
Mon, 01 May 2023Z$479.5bZ$235.2bZ$17.9b41.9x26.7x2x
Price to Earnings Ratio

26.7x


Total Market Cap: Z$479.5bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.6x202420252026
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 13.4x which is lower than its 3-year average PE of 21.6x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 24% per year over the last three years.
  • Revenues have also declined 35% 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-0.042%
Industrials9.15%
Materials6.54%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-0.21%
Consumer Staples-1.18%
Sector PE
  • Investors favour the Industrials sector the most for future growth even though it's trading below its 3-year average PE ratio of 271x.
    • 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 8.5% over the next 5 years.
  • This is better than its past earnings decline of 17% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 8.5% 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
NPKZ Nampak ZimbabweUS$0.8511.8%
+US$68.0m		-26.1%PE3.1xMaterials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.027.5%
+US$7.3m		n/aPE6995.8xFinancials
TNCI TN CyberTech Investments HoldingsUS$0.100.05%
+US$193.0k		-23.1%PE2.8xFinancials
See more

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Latest News

PROL
US$1.48
Proplastics
7D
-1.3%
1Y
55.8%
ZSEH
US$1.02
Zimbabwe Stock Exchange Holdings
7D
7.5%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
11.8%
1Y
-26.1%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
0.05%
1Y
-23.1%
DLTA
US$26.85
Delta
7D
-0.6%
1Y
83.3%