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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies36
  • 7D-1.0%
  • 3M22.2%
  • 1Y87.6%
  • YTD25.4%

The Industrials sector gained 10% while the market remained flat over the last week. Meanwhile, the market is actually up 88% over the past year. Earnings are forecast to grow by 5.0% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026Z$105.3bZ$70.4bZ$7.8b911.2x13.5x1.5x
Tue, 03 Mar 2026Z$103.7bZ$74.5bZ$7.8b16.4x13.3x1.4x
Thu, 29 Jan 2026Z$103.2bZ$74.5bZ$7.8b17.1x13.2x1.4x
Sat, 27 Dec 2025Z$76.4bZ$73.9bZ$7.8b15.7x9.7x1x
Mon, 24 Nov 2025Z$52.1bZ$70.8bZ$7.7b547.1x6.7x0.7x
Wed, 22 Oct 2025Z$60.8bZ$66.7bZ$8.2b378.1x7.4x0.9x
Fri, 19 Sep 2025Z$63.6bZ$77.3bZ$8.9b1123.7x7.1x0.8x
Sun, 17 Aug 2025Z$152.9bZ$75.7bZ$8.3b1220.7x18.5x2x
Tue, 15 Jul 2025Z$19.2bZ$4.5bZ$3.5b1173.1x5.4x4.3x
Thu, 12 Jun 2025Z$19.0bZ$4.5bZ$3.5b1011.3x5.4x4.2x
Sat, 10 May 2025Z$19.2bZ$1.3bZ$1.6b1142.3x12.1x14.5x
Mon, 07 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 05 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 31 Jan 2025Z$18.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 29 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 26 Nov 2024Z$28.8bZ$993.6bZ$87.3b0.3x0.3x0.03x
Thu, 24 Oct 2024Z$28.8bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sat, 21 Sep 2024Z$26.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Mon, 19 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Wed, 17 Jul 2024Z$20.0bZ$1.0tZ$80.2b0.5x0.2x0.02x
Fri, 14 Jun 2024Z$11.8bZ$1.0tZ$80.2b0.4x0.1x0.01x
Sun, 12 May 2024Z$10.1bZ$2.3tZ$382.6b0.03x0.03x0.004x
Tue, 09 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Thu, 07 Mar 2024Z$12.8tZ$1.9tZ$383.0b31.3x33.4x6.8x
Sat, 03 Feb 2024Z$15.7tZ$1.5tZ$348.2b38.2x45.1x10.2x
Mon, 01 Jan 2024Z$5.6tZ$1.5tZ$348.2b30.9x16x3.6x
Wed, 29 Nov 2023Z$967.9bZ$413.7bZ$13.1b39x73.7x2.3x
Fri, 27 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.7x77.4x3.4x
Sun, 24 Sep 2023Z$896.9bZ$305.6bZ$13.4b31.2x66.9x2.9x
Tue, 22 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Thu, 20 Jul 2023Z$810.0bZ$305.0bZ$13.0b24.9x62.4x2.7x
Sat, 17 Jun 2023Z$894.1bZ$288.8bZ$10.8b23.4x82.8x3.1x
Mon, 15 May 2023Z$637.8bZ$235.2bZ$17.9b64.2x35.6x2.7x
Wed, 12 Apr 2023Z$450.3bZ$226.8bZ$17.6b30.9x25.5x2x
Price to Earnings Ratio

25.5x


Total Market Cap: Z$450.3bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.8x202420252026
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 13.5x which is lower than its 3-year average PE of 21.8x.
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 32% 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-0.99%
Industrials10.12%
Real Estate0%0
Materials0%0
Consumer Discretionary0%0
Telecom0%0
Financials-0.28%
Consumer Staples-0.74%
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 17% 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$1.5119.8%
+US$64.9m		37.0%PE2187.2xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.122.2%
+US$11.0m		-27.8%PE0.4xFinancials
See more

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PROL
US$1.51
Proplastics
7D
19.8%
1Y
37.0%
ZSEH
US$1.20
Zimbabwe Stock Exchange Holdings
7D
-2.0%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
2.2%
1Y
-27.8%
DLTA
US$26.50
Delta
7D
-0.8%
1Y
77.7%