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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies36
  • 7D-1.3%
  • 3M57.0%
  • 1Y100.0%
  • YTD25.1%

Over the past 7 days, the market has dropped 1.3% with the Financials sector contributing the most to the decline. As for the longer term, the market has actually risen by 100% in the last year. Earnings are forecast to grow by 5.0% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026Z$103.7bZ$74.5bZ$7.8b14.6x13.3x1.4x
Wed, 21 Jan 2026Z$105.2bZ$74.5bZ$7.8b17.1x13.5x1.4x
Fri, 19 Dec 2025Z$74.3bZ$71.4bZ$7.6b309.4x9.7x1x
Sun, 16 Nov 2025Z$52.5bZ$68.7bZ$8.3b414x6.3x0.8x
Tue, 14 Oct 2025Z$57.9bZ$66.7bZ$8.2b376.7x7x0.9x
Thu, 11 Sep 2025Z$64.1bZ$77.0bZ$8.1b1119.7x7.9x0.8x
Sat, 09 Aug 2025Z$153.5bZ$74.7bZ$8.5b1200.1x18.2x2.1x
Mon, 07 Jul 2025Z$19.1bZ$4.5bZ$3.5b1177.3x5.4x4.2x
Wed, 04 Jun 2025Z$19.5bZ$1.3bZ$1.6b1230.6x12.3x14.7x
Fri, 02 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 30 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 25 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 23 Jan 2025Z$19.3bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 21 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 18 Nov 2024Z$28.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Wed, 16 Oct 2024Z$27.0bZ$986.0bZ$80.0b0.4x0.3x0.03x
Fri, 13 Sep 2024Z$26.1bZ$986.7bZ$80.2b0.7x0.3x0.03x
Sun, 11 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Tue, 09 Jul 2024Z$15.0bZ$1.0tZ$80.2b0.4x0.2x0.01x
Thu, 06 Jun 2024Z$11.5bZ$1.0tZ$80.2b0.3x0.1x0.01x
Sat, 04 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Mon, 01 Apr 2024Z$23.9tZ$1.9tZ$382.6b63.6x62.4x12.7x
Wed, 28 Feb 2024Z$12.0tZ$1.9tZ$383.0b29.6x31.4x6.4x
Fri, 26 Jan 2024Z$12.3tZ$1.5tZ$348.2b31.2x35.4x8.1x
Sun, 24 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Tue, 21 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Thu, 19 Oct 2023Z$1.0tZ$305.6bZ$13.4b41.8x75.6x3.3x
Sat, 16 Sep 2023Z$965.5bZ$305.0bZ$13.0b31.2x74.4x3.2x
Mon, 14 Aug 2023Z$842.3bZ$305.0bZ$13.0b25.1x64.9x2.8x
Wed, 12 Jul 2023Z$973.9bZ$305.0bZ$13.0b26.2x75x3.2x
Fri, 09 Jun 2023Z$866.8bZ$288.8bZ$10.8b22.8x80.3x3x
Sun, 07 May 2023Z$523.9bZ$235.2bZ$17.9b48x29.2x2.2x
Tue, 04 Apr 2023Z$469.1bZ$226.8bZ$17.6b30.9x26.6x2.1x
Thu, 02 Mar 2023Z$455.7bZ$226.8bZ$17.6b30.9x25.9x2x
Price to Earnings Ratio

25.9x


Total Market Cap: Z$455.7bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.3x202420252026
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 22.3x.
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-1.32%
Materials1.37%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Consumer Staples-1.34%
Industrials-1.72%
Financials-3.30%
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.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 5.0% 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
ZSEH Zimbabwe Stock Exchange HoldingsUS$0.9712.4%
+US$11.0m		n/an/aFinancials
See more

Market Insights

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PROL
US$1.15
Proplastics
7D
-14.8%
1Y
35.3%
ZSEH
US$0.97
Zimbabwe Stock Exchange Holdings
7D
12.4%
1Y
n/a
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
-9.4%
1Y
-32.2%
DLTA
US$29.57
Delta
7D
-1.5%
1Y
124.9%