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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 06, 2026
DataAggregated Company Financials
Companies36
  • 7D1.5%
  • 3M4.8%
  • 1Y93.8%
  • YTD28.8%

The market has climbed by 1.5% over the past week, with every sector up and the Financials sector leading the way. The market is up 94% over the last 12 months. Looking forward, 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
Thu, 07 May 2026Z$108.2bZ$64.3bZ$7.9b1844.3x13.8x1.7x
Sat, 04 Apr 2026Z$105.3bZ$70.4bZ$7.8b911.2x13.5x1.5x
Mon, 02 Mar 2026Z$103.7bZ$74.5bZ$7.8b16.4x13.3x1.4x
Wed, 28 Jan 2026Z$103.5bZ$74.5bZ$7.8b17.1x13.2x1.4x
Fri, 26 Dec 2025Z$76.4bZ$73.9bZ$7.8b15.7x9.8x1x
Sun, 23 Nov 2025Z$52.1bZ$70.8bZ$7.7b547.1x6.7x0.7x
Tue, 21 Oct 2025Z$60.7bZ$66.7bZ$8.2b383.6x7.4x0.9x
Thu, 18 Sep 2025Z$63.4bZ$77.3bZ$8.9b1124x7.1x0.8x
Sat, 16 Aug 2025Z$152.9bZ$75.7bZ$8.3b1220.7x18.5x2x
Mon, 14 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.3x4.2x
Wed, 11 Jun 2025Z$19.3bZ$4.5bZ$3.5b1173.4x5.4x4.3x
Fri, 09 May 2025Z$19.3bZ$1.3bZ$1.6b1203.8x12.2x14.6x
Sun, 06 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 04 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 30 Jan 2025Z$18.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 28 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 25 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Wed, 23 Oct 2024Z$29.1bZ$986.0bZ$80.0b0.4x0.4x0.03x
Fri, 20 Sep 2024Z$27.4bZ$986.0bZ$80.0b0.4x0.3x0.03x
Sun, 18 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Tue, 16 Jul 2024Z$18.9bZ$1.0tZ$80.2b0.5x0.2x0.02x
Thu, 13 Jun 2024Z$11.8bZ$1.0tZ$80.2b0.3x0.1x0.01x
Sat, 11 May 2024Z$10.1bZ$2.3tZ$382.6b0.03x0.03x0.004x
Mon, 08 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Wed, 06 Mar 2024Z$12.9tZ$1.9tZ$383.0b31.4x33.7x6.8x
Fri, 02 Feb 2024Z$17.0tZ$1.5tZ$348.2b43x48.9x11.1x
Sun, 31 Dec 2023Z$5.6tZ$1.5tZ$348.2b30.9x16x3.6x
Tue, 28 Nov 2023Z$977.9bZ$413.7bZ$13.1b39x74.4x2.4x
Thu, 26 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x77.4x3.4x
Sat, 23 Sep 2023Z$896.9bZ$305.0bZ$13.0b31.2x69.1x2.9x
Mon, 21 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Wed, 19 Jul 2023Z$832.6bZ$305.0bZ$13.0b24.9x64.1x2.7x
Fri, 16 Jun 2023Z$893.6bZ$288.8bZ$10.8b23.4x82.8x3.1x
Sun, 14 May 2023Z$637.8bZ$235.2bZ$17.9b64.2x35.6x2.7x
Price to Earnings Ratio

35.6x


Total Market Cap: Z$637.8bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.5x202420252026
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 13.8x which is lower than its 3-year average PE of 21.5x.
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 Market1.53%
Financials3.89%
Industrials2.09%
Materials1.85%
Consumer Staples1.18%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
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
DLTA DeltaUS$27.993.9%
+US$1.4b		108.8%PE1921.7xConsumer Staples
NPKZ Nampak ZimbabweUS$0.861.5%
+US$9.4m		-21.6%PE3.1xMaterials
PROL ProplasticsUS$1.501.4%
+US$5.2m		83.8%PE2172.7xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.100.5%
+US$2.1m		-25.3%PE2.8xFinancials
See more

Market Insights

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PROL
US$1.50
Proplastics
7D
1.4%
1Y
83.8%
ZSEH
US$1.00
Zimbabwe Stock Exchange Holdings
7D
-12.5%
1Y
n/a
NPKZ
US$0.86
Nampak Zimbabwe
7D
1.5%
1Y
-21.6%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
0.5%
1Y
-25.3%
DLTA
US$27.99
Delta
7D
3.9%
1Y
108.8%