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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.9%
  • 3M0.3%
  • 1Y94.4%
  • YTD26.0%

Over the last 7 days, the market has remained flat, although notably the Materials sector gained 8.2% in that time. As for the longer term, the market has risen 94% in the past 12 months. Looking forward, earnings are forecast to grow by 8.2% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Apr 2026Z$105.8bZ$63.8bZ$8.0b1829.9x13.3x1.7x
Wed, 25 Mar 2026Z$105.4bZ$74.5bZ$7.8b15.7x13.5x1.4x
Fri, 20 Feb 2026Z$103.5bZ$74.5bZ$7.8b14.6x13.2x1.4x
Sun, 18 Jan 2026Z$103.8bZ$74.5bZ$7.8b16.3x13.3x1.4x
Tue, 16 Dec 2025Z$74.9bZ$71.4bZ$7.6b289.8x9.8x1x
Thu, 13 Nov 2025Z$65.4bZ$65.2bZ$6.1b370.7x10.8x1x
Sat, 11 Oct 2025Z$56.8bZ$70.1bZ$8.3b329.1x6.8x0.8x
Mon, 08 Sep 2025Z$63.8bZ$77.0bZ$8.1b1120.3x7.9x0.8x
Wed, 06 Aug 2025Z$154.5bZ$74.7bZ$8.5b1199.3x18.3x2.1x
Fri, 04 Jul 2025Z$19.1bZ$4.5bZ$3.5b1181.9x5.4x4.2x
Sun, 01 Jun 2025Z$19.5bZ$1.3bZ$1.6b1229.4x12.3x14.7x
Tue, 29 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 27 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 22 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 20 Jan 2025Z$19.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 18 Dec 2024Z$20.2bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 15 Nov 2024Z$27.9bZ$993.6bZ$87.3b0.3x0.3x0.03x
Sun, 13 Oct 2024Z$26.9bZ$986.0bZ$80.0b0.4x0.3x0.03x
Tue, 10 Sep 2024Z$22.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Thu, 08 Aug 2024Z$21.2bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sat, 06 Jul 2024Z$14.5bZ$1.0tZ$80.2b0.4x0.2x0.01x
Mon, 03 Jun 2024Z$11.2bZ$1.0tZ$80.2b0.3x0.1x0.01x
Wed, 01 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Fri, 29 Mar 2024Z$23.9tZ$1.9tZ$382.6b63.6x62.4x12.7x
Sun, 25 Feb 2024Z$11.4tZ$1.9tZ$383.0b27.7x29.9x6.1x
Tue, 23 Jan 2024Z$11.2tZ$1.5tZ$348.2b30.9x32.2x7.3x
Thu, 21 Dec 2023Z$4.9tZ$1.5tZ$348.2b30.9x14.1x3.2x
Sat, 18 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Mon, 16 Oct 2023Z$1.0tZ$305.6bZ$13.4b43.8x77.5x3.4x
Wed, 13 Sep 2023Z$912.5bZ$305.0bZ$13.0b31.2x70.3x3x
Fri, 11 Aug 2023Z$835.9bZ$305.0bZ$13.0b25.1x64.4x2.7x
Sun, 09 Jul 2023Z$967.7bZ$305.0bZ$13.0b23.6x74.5x3.2x
Tue, 06 Jun 2023Z$769.2bZ$235.7bZ$17.9b30.9x43.1x3.3x
Thu, 04 May 2023Z$490.7bZ$235.2bZ$17.9b43.8x27.4x2.1x
Price to Earnings Ratio

27.4x


Total Market Cap: Z$490.7bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.6x202420252026
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 21.6x.
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 35% 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-0.87%
Materials8.20%
Industrials5.15%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-1.83%
Consumer Staples-2.42%
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 271x.
    • 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 8.2% 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 8.2% 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$0.856.2%
+US$37.4m		-26.1%PE3.1xMaterials
TNCI TN CyberTech Investments HoldingsUS$0.109.4%
+US$35.9m		-25.8%PE2.8xFinancials
See more

Market Insights

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PROL
US$1.48
Proplastics
7D
-1.3%
1Y
80.9%
ZSEH
US$1.06
Zimbabwe Stock Exchange Holdings
7D
-2.9%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
6.2%
1Y
-26.1%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
9.4%
1Y
-25.8%
DLTA
US$26.65
Delta
7D
-1.3%
1Y
104.0%