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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedSep 16, 2025
DataAggregated Company Financials
Companies37
  • 7D-0.5%
  • 3M7.0%
  • 1Y-21.6%
  • YTD-2.9%

The market has been flat in the last week, however the Industrials sector is down 6.4%. As for last year, the market is down 22%.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Sep 2025Z$63.6bZ$77.3bZ$8.9b1123.8x7.1x0.8x
Thu, 14 Aug 2025Z$153.5bZ$75.7bZ$8.3b1200x18.6x2x
Sat, 12 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.4x4.2x
Mon, 09 Jun 2025Z$19.3bZ$4.5bZ$3.5b1146.9x5.5x4.3x
Wed, 07 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 04 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 02 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 28 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 26 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 23 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Mon, 21 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Wed, 18 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Fri, 16 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 14 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Tue, 11 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Thu, 09 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sat, 06 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Mon, 04 Mar 2024Z$13.2tZ$1.9tZ$383.0b31.9x34.3x7x
Wed, 31 Jan 2024Z$14.7tZ$1.5tZ$348.2b37.4x42.2x9.6x
Fri, 29 Dec 2023Z$5.3tZ$1.5tZ$348.2b30.9x15.1x3.4x
Sun, 26 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Tue, 24 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x76.2x3.3x
Thu, 21 Sep 2023Z$909.8bZ$305.0bZ$13.0b31.2x70.1x3x
Sat, 19 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Mon, 17 Jul 2023Z$877.4bZ$305.0bZ$13.0b24.6x67.6x2.9x
Wed, 14 Jun 2023Z$924.0bZ$288.8bZ$10.8b24.1x85.6x3.2x
Fri, 12 May 2023Z$592.1bZ$235.2bZ$17.9b58x33x2.5x
Sun, 09 Apr 2023Z$462.9bZ$226.8bZ$17.6b30.9x26.3x2x
Tue, 07 Mar 2023Z$457.1bZ$226.8bZ$17.6b30.9x25.9x2x
Thu, 02 Feb 2023Z$381.5bZ$226.8bZ$17.6b25.1x21.6x1.7x
Sat, 31 Dec 2022Z$336.8bZ$186.2bZ$13.2b25.8x25.4x1.8x
Mon, 28 Nov 2022Z$301.1bZ$186.2bZ$13.2b19.5x22.7x1.6x
Wed, 26 Oct 2022Z$315.3bZ$186.2bZ$13.2b21.2x23.8x1.7x
Fri, 23 Sep 2022Z$194.0bZ$85.2bZ$5.7b22.6x34x2.3x
Price to Earnings Ratio

34x


Total Market Cap: Z$194.0bTotal Earnings: Z$5.7bTotal Revenue: Z$85.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 24.6x202320242025
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 7.1x which is lower than its 3-year average PE of 24.6x.
Past Earnings Growth
  • The earnings for Zimbabwean listed companies have grown 16% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.2% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.

Sector Trends

Which sectors have driven the changes within the Zimbabwean Market?

ZW Market-0.55%
Consumer Staples0.31%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-0.66%
Materials-2.01%
Industrials-6.39%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth even though it's trading below its 3-year average PE ratio of 165x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
DLTA DeltaUS$13.980.6%
+US$104.4m		-31.9%PE1210.7xConsumer Staples
NPKZ Nampak ZimbabweUS$0.840.2%
+US$1.5m		-30.2%PE1036.9xMaterials
See more

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Latest News

DLTA
US$13.98
Delta
7D
0.6%
1Y
-31.9%
ZSEH
US$1.85
Zimbabwe Stock Exchange Holdings
7D
-6.1%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
-2.9%
1Y
-76.4%
PROL
US$1.47
Proplastics
7D
-0.2%
1Y
-26.5%
NPKZ
US$0.84
Nampak Zimbabwe
7D
0.2%
1Y
-30.2%