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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies37
  • 7D8.7%
  • 3M42.7%
  • 1Y40.9%
  • YTD0%

The market has climbed 8.7% in the last 7 days, lead by the Financials sector with a gain of 14%. As for the past 12 months, the market is up 41%. 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
Sun, 04 Jan 2026Z$83.0bZ$74.7bZ$7.7b17.3x10.8x1.1x
Tue, 02 Dec 2025Z$71.1bZ$70.8bZ$7.7b537.9x9.2x1x
Thu, 30 Oct 2025Z$63.5bZ$66.7bZ$8.2b325.3x7.7x1x
Sat, 27 Sep 2025Z$63.4bZ$77.6bZ$8.9b1123.2x7.1x0.8x
Mon, 25 Aug 2025Z$62.2bZ$77.2bZ$8.7b1223.8x7.1x0.8x
Wed, 23 Jul 2025Z$19.2bZ$4.5bZ$3.5b1176.3x5.4x4.3x
Fri, 20 Jun 2025Z$19.0bZ$4.5bZ$3.5b1009.9x5.4x4.2x
Sun, 18 May 2025Z$19.3bZ$1.3bZ$1.6b1203.8x12.2x14.6x
Tue, 15 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 13 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 08 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Mon, 06 Jan 2025Z$19.7bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 04 Dec 2024Z$24.2bZ$810.1bZ$91.4b0.3x0.3x0.03x
Fri, 01 Nov 2024Z$31.0bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sun, 29 Sep 2024Z$25.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Tue, 27 Aug 2024Z$20.7bZ$986.7bZ$80.2b0.6x0.3x0.02x
Thu, 25 Jul 2024Z$20.6bZ$1.0tZ$80.2b0.6x0.3x0.02x
Sat, 22 Jun 2024Z$12.9bZ$1.0tZ$80.2b0.4x0.2x0.01x
Mon, 20 May 2024Z$10.0bZ$2.3tZ$382.6b0.03x0.03x0.004x
Wed, 17 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Fri, 15 Mar 2024Z$15.1tZ$1.9tZ$383.0b38.7x39.5x8x
Sun, 11 Feb 2024Z$13.7tZ$1.4tZ$336.2b80.5x40.7x9.9x
Tue, 09 Jan 2024Z$7.6tZ$1.5tZ$348.2b30.9x21.9x5x
Thu, 07 Dec 2023Z$5.4tZ$1.5tZ$348.2b30.9x15.6x3.6x
Sat, 04 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.9x76.5x3.4x
Mon, 02 Oct 2023Z$932.3bZ$305.6bZ$13.4b32.8x69.6x3.1x
Wed, 30 Aug 2023Z$842.4bZ$305.0bZ$13.0b27x64.9x2.8x
Fri, 28 Jul 2023Z$764.1bZ$305.0bZ$13.0b25.7x58.9x2.5x
Sun, 25 Jun 2023Z$888.5bZ$288.8bZ$10.8b23.4x82.3x3.1x
Tue, 23 May 2023Z$715.4bZ$235.2bZ$17.9b69.7x39.9x3x
Thu, 20 Apr 2023Z$395.4bZ$235.2bZ$17.9b31.7x22.1x1.7x
Sat, 18 Mar 2023Z$460.1bZ$226.8bZ$17.6b30.9x26.1x2x
Mon, 13 Feb 2023Z$478.1bZ$226.8bZ$17.6b33x27.1x2.1x
Wed, 11 Jan 2023Z$389.0bZ$185.8bZ$15.3b23.4x25.4x2.1x
Price to Earnings Ratio

25.4x


Total Market Cap: Z$389.0bTotal Earnings: Z$15.3bTotal Revenue: Z$185.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.8x202420252026
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 10.8x which is lower than its 3-year average PE of 22.8x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 21% per year over the last three years.
  • Revenues have also declined 26% 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 Market8.67%
Financials14.38%
Consumer Staples5.36%
Industrials1.43%
Real Estate0%0
Materials0%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 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
DLTA DeltaUS$20.705.3%
+US$1.4b		48.0%PE1421.4xConsumer Staples
PROL ProplasticsUS$1.4011.3%
+US$36.9m		-5.5%PE31.7xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.124.3%
+US$20.9m		-60.0%PE0.4xFinancials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.4510.9%
+US$14.7m		n/an/aFinancials
See more

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PROL
US$1.40
Proplastics
7D
11.3%
1Y
-5.5%
ZSEH
US$1.45
Zimbabwe Stock Exchange Holdings
7D
10.9%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
4.3%
1Y
-60.0%
DLTA
US$20.70
Delta
7D
5.3%
1Y
48.0%