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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies36
  • 7D-1.8%
  • 3M65.7%
  • 1Y95.1%
  • YTD22.3%

Over the last 7 days, the market has dropped 1.8%, driven by a pullback of 2.9% in the Financials sector. As for the longer term, the market has actually risen by 95% in the last year. Looking forward, 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
Thu, 05 Feb 2026Z$101.3bZ$74.5bZ$7.8b16.3x13x1.4x
Sat, 03 Jan 2026Z$83.0bZ$74.7bZ$7.7b17.3x10.8x1.1x
Mon, 01 Dec 2025Z$70.8bZ$70.8bZ$7.7b539x9.2x1x
Wed, 29 Oct 2025Z$62.7bZ$66.7bZ$8.2b378.8x7.6x0.9x
Fri, 26 Sep 2025Z$62.8bZ$77.6bZ$8.9b1123.6x7x0.8x
Sun, 24 Aug 2025Z$62.1bZ$76.4bZ$8.6b1223.8x7.3x0.8x
Tue, 22 Jul 2025Z$19.2bZ$4.5bZ$3.5b1177.1x5.4x4.3x
Thu, 19 Jun 2025Z$19.0bZ$4.5bZ$3.5b1009.8x5.4x4.2x
Sat, 17 May 2025Z$19.3bZ$1.3bZ$1.6b1203.8x12.2x14.6x
Mon, 14 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 12 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 07 Feb 2025Z$17.9bZ$269.0bZ$41.4b0.4x0.4x0.07x
Sun, 05 Jan 2025Z$19.7bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 03 Dec 2024Z$26.4bZ$810.1bZ$91.4b0.3x0.3x0.03x
Thu, 31 Oct 2024Z$31.0bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sat, 28 Sep 2024Z$25.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Mon, 26 Aug 2024Z$20.8bZ$986.7bZ$80.2b0.6x0.3x0.02x
Wed, 24 Jul 2024Z$20.6bZ$1.0tZ$80.2b0.6x0.3x0.02x
Fri, 21 Jun 2024Z$12.8bZ$1.0tZ$80.2b0.4x0.2x0.01x
Sun, 19 May 2024Z$10.0bZ$2.3tZ$382.6b0.03x0.03x0.004x
Tue, 16 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Thu, 14 Mar 2024Z$14.7tZ$1.9tZ$383.0b37.4x38.3x7.8x
Sat, 10 Feb 2024Z$13.7tZ$1.4tZ$336.2b80.5x40.7x9.9x
Mon, 08 Jan 2024Z$7.5tZ$1.5tZ$348.2b30.9x21.7x4.9x
Wed, 06 Dec 2023Z$5.5tZ$1.5tZ$348.2b30.9x15.7x3.6x
Fri, 03 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.9x76.5x3.4x
Sun, 01 Oct 2023Z$932.3bZ$305.6bZ$13.4b32.8x69.6x3.1x
Tue, 29 Aug 2023Z$833.4bZ$305.0bZ$13.0b27x64.2x2.7x
Thu, 27 Jul 2023Z$764.1bZ$305.0bZ$13.0b25.7x58.9x2.5x
Sat, 24 Jun 2023Z$887.4bZ$288.8bZ$10.8b23.4x82.2x3.1x
Mon, 22 May 2023Z$745.0bZ$235.2bZ$17.9b76.2x41.5x3.2x
Wed, 19 Apr 2023Z$395.5bZ$226.8bZ$17.6b30.9x22.4x1.7x
Fri, 17 Mar 2023Z$453.7bZ$226.8bZ$17.6b30.9x25.7x2x
Sun, 12 Feb 2023Z$478.1bZ$226.8bZ$17.6b33x27.1x2.1x
Price to Earnings Ratio

27.1x


Total Market Cap: Z$478.1bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.5x202420252026
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 13.0x which is lower than its 3-year average PE of 22.5x.
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 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-1.78%
Materials12.36%
Consumer Staples1.30%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Industrials-0.35%
Financials-2.87%
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
NPKZ Nampak ZimbabweUS$0.8714.5%
+US$83.1m		8.7%PE3.2xMaterials
See more

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Latest News

PROL
US$1.30
Proplastics
7D
-6.5%
1Y
54.5%
ZSEH
US$0.71
Zimbabwe Stock Exchange Holdings
7D
-6.0%
1Y
n/a
NPKZ
US$0.87
Nampak Zimbabwe
7D
14.5%
1Y
8.7%
TNCI
US$0.11
TN CyberTech Investments Holdings
7D
-18.9%
1Y
-63.5%
DLTA
US$28.99
Delta
7D
-0.7%
1Y
131.0%