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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies36
  • 7D1.8%
  • 3M3.9%
  • 1Y86.4%
  • YTD27.5%

Over the last 7 days, the market has risen 1.8%, driven by gains in every sector, especially the Consumer Staples sector. The market is up 86% over the last 12 months. Earnings are forecast to grow by 8.6% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026Z$107.5bZ$64.3bZ$7.9b1840.5x13.7x1.7x
Mon, 30 Mar 2026Z$105.2bZ$74.5bZ$7.8b15.6x13.5x1.4x
Wed, 25 Feb 2026Z$103.0bZ$74.5bZ$7.8b14.6x13.2x1.4x
Fri, 23 Jan 2026Z$105.7bZ$74.5bZ$7.8b17.1x13.5x1.4x
Sun, 21 Dec 2025Z$74.6bZ$71.4bZ$7.6b310.8x9.8x1x
Tue, 18 Nov 2025Z$52.7bZ$68.7bZ$8.3b457.4x6.4x0.8x
Thu, 16 Oct 2025Z$60.5bZ$66.7bZ$8.2b382x7.3x0.9x
Sat, 13 Sep 2025Z$63.7bZ$77.4bZ$8.9b1123.7x7.1x0.8x
Mon, 11 Aug 2025Z$153.5bZ$74.7bZ$8.5b1200.1x18.2x2.1x
Wed, 09 Jul 2025Z$19.0bZ$4.5bZ$3.5b1175.2x5.4x4.2x
Fri, 06 Jun 2025Z$19.5bZ$1.3bZ$1.6b1229.3x12.3x14.7x
Sun, 04 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 01 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 27 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 25 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 23 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 20 Nov 2024Z$29.1bZ$993.6bZ$87.3b0.3x0.3x0.03x
Fri, 18 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sun, 15 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Tue, 13 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Thu, 11 Jul 2024Z$18.4bZ$1.0tZ$80.2b0.5x0.2x0.02x
Sat, 08 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Mon, 06 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Wed, 03 Apr 2024Z$23.9tZ$1.9tZ$382.6b63.3x62.5x12.7x
Fri, 01 Mar 2024Z$13.4tZ$1.9tZ$383.0b32.6x34.9x7.1x
Sun, 28 Jan 2024Z$12.6tZ$1.5tZ$348.2b31.9x36.3x8.3x
Tue, 26 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Thu, 23 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Sat, 21 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.7x75.8x3.3x
Mon, 18 Sep 2023Z$961.5bZ$305.0bZ$13.0b31.2x74.1x3.2x
Wed, 16 Aug 2023Z$842.3bZ$305.0bZ$13.0b25.1x64.9x2.8x
Fri, 14 Jul 2023Z$879.0bZ$305.0bZ$13.0b24.8x67.7x2.9x
Sun, 11 Jun 2023Z$898.6bZ$288.8bZ$10.8b23x83.2x3.1x
Tue, 09 May 2023Z$553.3bZ$235.2bZ$17.9b52.5x30.9x2.4x
Price to Earnings Ratio

30.9x


Total Market Cap: Z$553.3bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.5x202420252026
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 13.7x which is lower than its 3-year average PE of 21.5x.
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 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 Market1.79%
Materials5.08%
Financials2.62%
Consumer Staples2.21%
Industrials1.63%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
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 8.6% 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 8.6% 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
DLTA DeltaUS$26.800.6%
+US$204.7m		103.5%PE1840.5xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.100.7%
+US$2.8m		-22.6%PE2.8xFinancials
PROL ProplasticsUS$1.480.06%
+US$247.2k		80.8%PE2145.1xIndustrials
NPKZ Nampak ZimbabweUS$0.850.01%
+US$65.7k		-26.1%PE3.1xMaterials
See more

Market Insights

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PROL
US$1.48
Proplastics
7D
0.06%
1Y
80.8%
ZSEH
US$1.02
Zimbabwe Stock Exchange Holdings
7D
-3.9%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
0.01%
1Y
-26.1%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
0.7%
1Y
-22.6%
DLTA
US$26.80
Delta
7D
0.6%
1Y
103.5%