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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.006%
  • 3M49.0%
  • 1Y85.2%
  • YTD25.1%

In the last week, the market has stayed flat, however the Industrials sector stood out, gaining 7.3%. More promisingly, the market is up 85% over the past year. As for the next few years, earnings are expected to grow by 5.0% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026Z$103.7bZ$74.5bZ$7.8b16.4x13.3x1.4x
Tue, 27 Jan 2026Z$104.4bZ$74.5bZ$7.8b17.1x13.4x1.4x
Thu, 25 Dec 2025Z$76.4bZ$71.5bZ$7.6b52.9x10x1.1x
Sat, 22 Nov 2025Z$52.1bZ$70.8bZ$7.7b547.1x6.7x0.7x
Mon, 20 Oct 2025Z$60.4bZ$66.7bZ$8.2b382x7.3x0.9x
Wed, 17 Sep 2025Z$63.8bZ$77.3bZ$8.9b1124.4x7.1x0.8x
Fri, 15 Aug 2025Z$153.1bZ$75.7bZ$8.3b1218.8x18.5x2x
Sun, 13 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.3x4.2x
Tue, 10 Jun 2025Z$19.2bZ$4.5bZ$3.5b1086x5.4x4.3x
Thu, 08 May 2025Z$19.2bZ$1.3bZ$1.6b1200x12.1x14.5x
Sat, 05 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 03 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 29 Jan 2025Z$18.7bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 27 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 24 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Tue, 22 Oct 2024Z$28.7bZ$986.0bZ$80.0b0.4x0.4x0.03x
Thu, 19 Sep 2024Z$28.2bZ$986.7bZ$80.2b0.8x0.4x0.03x
Sat, 17 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 15 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Wed, 12 Jun 2024Z$11.8bZ$1.0tZ$80.2b0.3x0.1x0.01x
Fri, 10 May 2024Z$10.2bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sun, 07 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Tue, 05 Mar 2024Z$13.1tZ$1.9tZ$383.0b31.8x34.2x6.9x
Thu, 01 Feb 2024Z$16.8tZ$1.5tZ$348.2b43x48.2x11x
Sat, 30 Dec 2023Z$5.6tZ$1.5tZ$348.2b30.9x16x3.6x
Mon, 27 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Wed, 25 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x76.2x3.3x
Fri, 22 Sep 2023Z$903.8bZ$305.0bZ$13.0b31.2x69.6x3x
Sun, 20 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Tue, 18 Jul 2023Z$872.4bZ$305.0bZ$13.0b24.9x67.2x2.9x
Thu, 15 Jun 2023Z$898.2bZ$288.8bZ$10.8b23.4x83.2x3.1x
Sat, 13 May 2023Z$637.8bZ$235.2bZ$17.9b64.2x35.6x2.7x
Mon, 10 Apr 2023Z$462.9bZ$226.8bZ$17.6b30.9x26.3x2x
Wed, 08 Mar 2023Z$461.8bZ$226.8bZ$17.6b30.9x26.2x2x
Price to Earnings Ratio

26.2x


Total Market Cap: Z$461.8bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.2x202420252026
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 13.3x which is lower than its 3-year average PE of 22.2x.
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 31% 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-0.0059%
Industrials7.33%
Consumer Staples2.03%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-2.24%
Materials-8.88%
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 272x.
    • 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 5.0% over the next 5 years.
  • This is better than its past earnings decline of 42% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 5.0% 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
PROL ProplasticsUS$1.3214.8%
+US$44.1m		18.1%PE29.9xIndustrials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.2630.0%
+US$29.9m		n/an/aFinancials
See more

Market Insights

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In many ways, the market is upside down. This new setting might offer some unexpected opportunities for investors.
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PROL
US$1.32
Proplastics
7D
14.8%
1Y
18.1%
ZSEH
US$1.26
Zimbabwe Stock Exchange Holdings
7D
30.0%
1Y
n/a
NPKZ
US$0.78
Nampak Zimbabwe
7D
-10.3%
1Y
41.2%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
-0.9%
1Y
-35.0%
DLTA
US$29.50
Delta
7D
-0.2%
1Y
91.1%