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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedNov 20, 2025
DataAggregated Company Financials
Companies37
  • 7D0.9%
  • 3M8.4%
  • 1Y-25.8%
  • YTD-2.4%

The Materials sector gained 32% while the market remained flat over the last week. Unfortunately though, the market is down 26% over the past year.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 22 Nov 2025Z$51.5bZ$70.8bZ$7.7b458.8x6.7x0.7x
Mon, 20 Oct 2025Z$60.4bZ$66.7bZ$8.2b382x7.3x0.9x
Wed, 17 Sep 2025Z$63.8bZ$77.3bZ$8.9b1124.4x7.1x0.8x
Fri, 15 Aug 2025Z$153.1bZ$75.7bZ$8.3b1218.8x18.5x2x
Sun, 13 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.3x4.2x
Tue, 10 Jun 2025Z$19.2bZ$4.5bZ$3.5b1086x5.4x4.3x
Thu, 08 May 2025Z$19.2bZ$1.3bZ$1.6b1200x12.1x14.5x
Sat, 05 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 03 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 29 Jan 2025Z$18.7bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 27 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 24 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Tue, 22 Oct 2024Z$28.7bZ$986.0bZ$80.0b0.4x0.4x0.03x
Thu, 19 Sep 2024Z$28.2bZ$986.7bZ$80.2b0.8x0.4x0.03x
Sat, 17 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 15 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Wed, 12 Jun 2024Z$11.8bZ$1.0tZ$80.2b0.3x0.1x0.01x
Fri, 10 May 2024Z$10.2bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sun, 07 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Tue, 05 Mar 2024Z$13.1tZ$1.9tZ$383.0b31.8x34.2x6.9x
Thu, 01 Feb 2024Z$16.8tZ$1.5tZ$348.2b43x48.2x11x
Sat, 30 Dec 2023Z$5.6tZ$1.5tZ$348.2b30.9x16x3.6x
Mon, 27 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Wed, 25 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x76.2x3.3x
Fri, 22 Sep 2023Z$903.8bZ$305.0bZ$13.0b31.2x69.6x3x
Sun, 20 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Tue, 18 Jul 2023Z$872.4bZ$305.0bZ$13.0b24.9x67.2x2.9x
Thu, 15 Jun 2023Z$898.2bZ$288.8bZ$10.8b23.4x83.2x3.1x
Sat, 13 May 2023Z$637.8bZ$235.2bZ$17.9b64.2x35.6x2.7x
Mon, 10 Apr 2023Z$462.9bZ$226.8bZ$17.6b30.9x26.3x2x
Wed, 08 Mar 2023Z$461.8bZ$226.8bZ$17.6b30.9x26.2x2x
Fri, 03 Feb 2023Z$382.1bZ$226.8bZ$17.6b25.2x21.7x1.7x
Sun, 01 Jan 2023Z$336.8bZ$186.2bZ$13.2b25.8x25.4x1.8x
Tue, 29 Nov 2022Z$300.4bZ$186.2bZ$13.2b19.5x22.7x1.6x
Price to Earnings Ratio

22.7x


Total Market Cap: Z$300.4bTotal Earnings: Z$13.2bTotal Revenue: Z$186.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 23.4x202320242025
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 6.7x which is lower than its 3-year average PE of 23.4x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 16% per year over the last three years.
  • Revenues have also declined 28% 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 Market0.88%
Materials31.63%
Industrials3.91%
Financials2.14%
Consumer Staples1.36%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Sector PE
  • Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 104x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
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
NPKZ Nampak ZimbabweUS$0.9241.5%
+US$204.0m		-17.9%PE1139xMaterials
DLTA DeltaUS$15.600.05%
+US$11.2m		-22.4%PE1071.2xConsumer Staples
See more

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Latest News

TNCI
US$0.12
TN CyberTech Investments Holdings
7D
-4.4%
1Y
-72.2%
ZSEH
US$1.06
Zimbabwe Stock Exchange Holdings
7D
-6.7%
1Y
n/a
PROL
US$1.02
Proplastics
7D
-1.0%
1Y
-58.9%
DLTA
US$15.60
Delta
7D
0.05%
1Y
-22.4%
NPKZ
US$0.92
Nampak Zimbabwe
7D
41.5%
1Y
-17.9%