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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.2%
  • 3M0.5%
  • 1Y85.4%
  • YTD27.3%

The Materials sector gained 13% while the market remained flat over the last week. More promisingly, the market is up 85% over the past year. As for the next few years, earnings are expected to grow by 8.6% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026Z$107.0bZ$63.8bZ$8.0b1854.5x13.4x1.7x
Thu, 19 Mar 2026Z$99.6bZ$74.5bZ$7.8b15.8x12.7x1.3x
Sat, 14 Feb 2026Z$105.3bZ$74.5bZ$7.8b16.9x13.5x1.4x
Mon, 12 Jan 2026Z$100.7bZ$74.5bZ$7.8b17.1x12.9x1.4x
Wed, 10 Dec 2025Z$80.3bZ$70.8bZ$7.7b568.8x10.4x1.1x
Fri, 07 Nov 2025Z$64.3bZ$64.0bZ$6.1b327.2x10.6x1x
Sun, 05 Oct 2025Z$59.5bZ$72.7bZ$8.4b388.7x7.1x0.8x
Tue, 02 Sep 2025Z$63.9bZ$77.3bZ$8.1b1221.3x7.9x0.8x
Thu, 31 Jul 2025Z$149.1bZ$74.7bZ$8.5b1175.5x17.6x2x
Sat, 28 Jun 2025Z$19.0bZ$4.5bZ$3.5b1097.8x5.4x4.2x
Mon, 26 May 2025Z$19.3bZ$1.3bZ$1.6b1228.7x12.2x14.5x
Wed, 23 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 21 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 16 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Tue, 14 Jan 2025Z$19.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 12 Dec 2024Z$19.9bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 09 Nov 2024Z$28.3bZ$998.5bZ$87.3b0.3x0.3x0.03x
Mon, 07 Oct 2024Z$25.9bZ$986.0bZ$80.0b0.4x0.3x0.03x
Wed, 04 Sep 2024Z$20.8bZ$986.7bZ$80.2b0.6x0.3x0.02x
Fri, 02 Aug 2024Z$20.8bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 30 Jun 2024Z$13.4bZ$1.0tZ$80.2b0.4x0.2x0.01x
Tue, 28 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Thu, 25 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Sat, 23 Mar 2024Z$20.7tZ$1.9tZ$383.0b54.6x54x11x
Mon, 19 Feb 2024Z$10.9tZ$1.9tZ$383.0b26.1x28.6x5.8x
Wed, 17 Jan 2024Z$8.8tZ$1.5tZ$348.2b30.9x25.2x5.7x
Fri, 15 Dec 2023Z$5.3tZ$1.5tZ$348.2b30.9x15.3x3.5x
Sun, 12 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.8x75x3.3x
Tue, 10 Oct 2023Z$1.0tZ$305.6bZ$13.4b41.1x76.1x3.3x
Thu, 07 Sep 2023Z$878.3bZ$305.0bZ$13.0b29.8x67.7x2.9x
Sat, 05 Aug 2023Z$807.5bZ$305.0bZ$13.0b24.2x62.2x2.6x
Mon, 03 Jul 2023Z$961.7bZ$288.8bZ$10.8b24.1x89.1x3.3x
Wed, 31 May 2023Z$738.5bZ$235.7bZ$17.9b30.9x41.4x3.1x
Fri, 28 Apr 2023Z$453.1bZ$235.2bZ$17.9b38.4x25.3x1.9x
Price to Earnings Ratio

25.3x


Total Market Cap: Z$453.1bTotal 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 13.4x 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-0.24%
Industrials11.30%
Materials4.34%
Financials0.33%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Consumer Staples-1.00%
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$27.010.1%
+US$47.8m		77.1%PE1854.5xConsumer Staples
NPKZ Nampak ZimbabweUS$0.805.3%
+US$30.5m		-30.4%PE2.9xMaterials
See more

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PROL
US$1.50
Proplastics
7D
-1.3%
1Y
57.9%
ZSEH
US$1.09
Zimbabwe Stock Exchange Holdings
7D
-8.6%
1Y
n/a
NPKZ
US$0.80
Nampak Zimbabwe
7D
5.3%
1Y
-30.4%
TNCI
US$0.091
TN CyberTech Investments Holdings
7D
-13.1%
1Y
-39.3%
DLTA
US$27.01
Delta
7D
0.1%
1Y
77.1%