Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 04, 2026

DataAggregated Company Financials

Companies36

7D-5.4%
3M59.8%
1Y87.2%
YTD18.0%

Over the last 7 days, the market has dropped 3.1%, driven by a loss of 3.1% in the Financials sector. In the last year, the market is actually up 91%. 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?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 04 Feb 2026	Z$99.0b	Z$74.5b	Z$7.8b	16.1x	12.7x	1.3x
Fri, 02 Jan 2026	Z$81.2b	Z$74.7b	Z$7.7b	17.3x	10.6x	1.1x
Sun, 30 Nov 2025	Z$70.8b	Z$70.8b	Z$7.7b	539x	9.2x	1x
Tue, 28 Oct 2025	Z$62.5b	Z$66.7b	Z$8.2b	378.8x	7.6x	0.9x
Thu, 25 Sep 2025	Z$62.0b	Z$77.6b	Z$8.9b	1123.6x	6.9x	0.8x
Sat, 23 Aug 2025	Z$62.2b	Z$76.4b	Z$8.6b	1223.8x	7.3x	0.8x
Mon, 21 Jul 2025	Z$19.2b	Z$4.5b	Z$3.5b	1175.8x	5.4x	4.3x
Wed, 18 Jun 2025	Z$19.0b	Z$4.5b	Z$3.5b	1009.8x	5.4x	4.2x
Fri, 16 May 2025	Z$19.2b	Z$1.3b	Z$1.6b	1200.5x	12.1x	14.5x
Sun, 13 Apr 2025	Z$17.7b	Z$269.0b	Z$41.4b	0.3x	0.4x	0.07x
Tue, 11 Mar 2025	Z$17.7b	Z$269.0b	Z$41.4b	0.3x	0.4x	0.07x
Thu, 06 Feb 2025	Z$17.3b	Z$269.0b	Z$41.4b	0.4x	0.4x	0.06x
Sat, 04 Jan 2025	Z$19.7b	Z$810.1b	Z$91.4b	0.2x	0.2x	0.02x
Mon, 02 Dec 2024	Z$26.4b	Z$810.1b	Z$91.4b	0.3x	0.3x	0.03x
Wed, 30 Oct 2024	Z$30.9b	Z$986.0b	Z$80.0b	0.4x	0.4x	0.03x
Fri, 27 Sep 2024	Z$25.6b	Z$986.0b	Z$80.0b	0.4x	0.3x	0.03x
Sun, 25 Aug 2024	Z$20.8b	Z$986.7b	Z$80.2b	0.6x	0.3x	0.02x
Tue, 23 Jul 2024	Z$20.4b	Z$1.0t	Z$80.2b	0.6x	0.3x	0.02x
Thu, 20 Jun 2024	Z$12.9b	Z$1.0t	Z$80.2b	0.4x	0.2x	0.01x
Sat, 18 May 2024	Z$10.0b	Z$2.3t	Z$382.6b	0.03x	0.03x	0.004x
Mon, 15 Apr 2024	Z$24.7t	Z$1.9t	Z$382.6b	64.9x	64.6x	13.1x
Wed, 13 Mar 2024	Z$14.5t	Z$1.9t	Z$383.0b	36.9x	37.9x	7.7x
Fri, 09 Feb 2024	Z$13.8t	Z$1.4t	Z$336.2b	78.7x	41x	10x
Sun, 07 Jan 2024	Z$7.5t	Z$1.5t	Z$348.2b	30.9x	21.7x	4.9x
Tue, 05 Dec 2023	Z$5.5t	Z$1.5t	Z$348.2b	30.9x	15.7x	3.6x
Thu, 02 Nov 2023	Z$1.0t	Z$305.6b	Z$13.4b	41.9x	76.7x	3.4x
Sat, 30 Sep 2023	Z$932.3b	Z$305.6b	Z$13.4b	32.8x	69.6x	3.1x
Mon, 28 Aug 2023	Z$851.8b	Z$305.0b	Z$13.0b	27x	65.6x	2.8x
Wed, 26 Jul 2023	Z$764.1b	Z$305.0b	Z$13.0b	25.1x	58.9x	2.5x
Fri, 23 Jun 2023	Z$887.4b	Z$288.8b	Z$10.8b	23.4x	82.2x	3.1x
Sun, 21 May 2023	Z$745.0b	Z$235.2b	Z$17.9b	76.2x	41.5x	3.2x
Tue, 18 Apr 2023	Z$395.5b	Z$226.8b	Z$17.6b	30.9x	22.4x	1.7x
Thu, 16 Mar 2023	Z$458.8b	Z$226.8b	Z$17.6b	30.9x	26x	2x
Sat, 11 Feb 2023	Z$478.1b	Z$226.8b	Z$17.6b	33x	27.1x	2.1x

Price to Earnings Ratio

27.1x

Sat, 11 Feb 2023

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 12.9x 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	-5.36%
Industrials	0.96%
Consumer Staples	0.75%
Materials	0.24%
Real Estate	0%	0
Consumer Discretionary	0%	0
Telecom	0%	0
Financials	-2.94%

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.