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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies37
  • 7D1.0%
  • 3M27.1%
  • 1Y24.8%
  • YTD24.7%

The market is up 1.0% in the last 7 days, led by the Consumer Staples and all sectors gaining ground. The market is up 25% over the last 12 months.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025Z$75.6bZ$71.4bZ$7.6b312.1x9.9x1.1x
Fri, 21 Nov 2025Z$51.8bZ$70.8bZ$7.7b506.8x6.7x0.7x
Sun, 19 Oct 2025Z$60.4bZ$66.7bZ$8.2b382x7.3x0.9x
Tue, 16 Sep 2025Z$63.6bZ$77.3bZ$8.9b1123.8x7.1x0.8x
Thu, 14 Aug 2025Z$153.5bZ$75.7bZ$8.3b1200x18.6x2x
Sat, 12 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.4x4.2x
Mon, 09 Jun 2025Z$19.3bZ$4.5bZ$3.5b1146.9x5.5x4.3x
Wed, 07 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 04 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 02 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 28 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 26 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 23 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Mon, 21 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Wed, 18 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Fri, 16 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 14 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Tue, 11 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Thu, 09 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sat, 06 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Mon, 04 Mar 2024Z$13.2tZ$1.9tZ$383.0b31.9x34.3x7x
Wed, 31 Jan 2024Z$14.7tZ$1.5tZ$348.2b37.4x42.2x9.6x
Fri, 29 Dec 2023Z$5.3tZ$1.5tZ$348.2b30.9x15.1x3.4x
Sun, 26 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Tue, 24 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x76.2x3.3x
Thu, 21 Sep 2023Z$909.8bZ$305.0bZ$13.0b31.2x70.1x3x
Sat, 19 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Mon, 17 Jul 2023Z$877.4bZ$305.0bZ$13.0b24.6x67.6x2.9x
Wed, 14 Jun 2023Z$924.0bZ$288.8bZ$10.8b24.1x85.6x3.2x
Fri, 12 May 2023Z$592.1bZ$235.2bZ$17.9b58x33x2.5x
Sun, 09 Apr 2023Z$462.9bZ$226.8bZ$17.6b30.9x26.3x2x
Tue, 07 Mar 2023Z$457.1bZ$226.8bZ$17.6b30.9x25.9x2x
Thu, 02 Feb 2023Z$381.5bZ$226.8bZ$17.6b25.1x21.6x1.7x
Sat, 31 Dec 2022Z$336.8bZ$186.2bZ$13.2b25.8x25.4x1.8x
Price to Earnings Ratio

25.4x


Total Market Cap: Z$336.8bTotal 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 9.9x 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 Market1.05%
Materials4.99%
Consumer Staples1.43%
Industrials0.86%
Financials0.69%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
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$19.633.0%
+US$759.9m		38.0%PE1348.2xConsumer Staples
NPKZ Nampak ZimbabweUS$0.807.6%
+US$42.8m		-38.5%PE599.5xMaterials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.1426.9%
+US$24.8m		n/an/aFinancials
PROL ProplasticsUS$1.099.4%
+US$24.4m		-37.2%PE24.8xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.120.9%
+US$4.2m		-61.6%PE0.4xFinancials
See more

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ZSEH
US$1.31
Zimbabwe Stock Exchange Holdings
7D
63.4%
1Y
n/a
NPKZ
US$0.80
Nampak Zimbabwe
7D
7.6%
1Y
-38.5%
PROL
US$1.26
Proplastics
7D
25.8%
1Y
-27.8%
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
0.9%
1Y
-61.6%
DLTA
US$19.65
Delta
7D
3.1%
1Y
38.1%