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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies36
  • 7D2.0%
  • 3M3.2%
  • 1Y95.9%
  • YTD30.9%

The market has climbed 2.0% in the last 7 days, lead by the Consumer Staples sector with a gain of 2.6%. Meanwhile, the Materials sector has underperformed, shrinking 10% in that time. The market is up 96% over the last 12 months. Earnings are forecast to grow by 8.2% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 May 2026Z$110.1bZ$64.3bZ$7.9b1922.7x14x1.7x
Fri, 10 Apr 2026Z$105.5bZ$68.4bZ$6.6b928.1x15.9x1.5x
Sun, 08 Mar 2026Z$104.8bZ$74.5bZ$7.8b12.7x13.4x1.4x
Tue, 03 Feb 2026Z$101.2bZ$74.5bZ$7.8b16.7x12.9x1.4x
Thu, 01 Jan 2026Z$81.1bZ$74.7bZ$7.7b17.3x10.5x1.1x
Sat, 29 Nov 2025Z$56.6bZ$70.8bZ$7.7b539x7.3x0.8x
Mon, 27 Oct 2025Z$62.4bZ$66.7bZ$8.2b378.8x7.6x0.9x
Wed, 24 Sep 2025Z$62.4bZ$77.6bZ$8.9b1122.9x7x0.8x
Fri, 22 Aug 2025Z$155.9bZ$76.4bZ$8.6b1223.7x18.2x2x
Sun, 20 Jul 2025Z$19.2bZ$4.5bZ$3.5b1175.8x5.4x4.3x
Tue, 17 Jun 2025Z$19.0bZ$4.5bZ$3.5b1009.8x5.4x4.2x
Thu, 15 May 2025Z$19.2bZ$1.3bZ$1.6b1199.7x12.1x14.5x
Sat, 12 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 10 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 05 Feb 2025Z$17.3bZ$269.0bZ$41.4b0.4x0.4x0.06x
Fri, 03 Jan 2025Z$19.8bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 01 Dec 2024Z$26.4bZ$810.1bZ$91.4b0.3x0.3x0.03x
Tue, 29 Oct 2024Z$30.8bZ$986.0bZ$80.0b0.4x0.4x0.03x
Thu, 26 Sep 2024Z$25.8bZ$986.0bZ$80.0b0.4x0.3x0.03x
Sat, 24 Aug 2024Z$20.8bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 22 Jul 2024Z$20.3bZ$1.0tZ$80.2b0.5x0.3x0.02x
Wed, 19 Jun 2024Z$12.6bZ$1.0tZ$80.2b0.4x0.2x0.01x
Fri, 17 May 2024Z$9.9bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sun, 14 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Tue, 12 Mar 2024Z$13.5tZ$1.9tZ$383.0b33.8x35.4x7.2x
Thu, 08 Feb 2024Z$13.8tZ$1.4tZ$336.2b78.9x41.1x10x
Sat, 06 Jan 2024Z$7.5tZ$1.5tZ$348.2b30.9x21.7x4.9x
Mon, 04 Dec 2023Z$5.5tZ$1.5tZ$348.2b30.9x15.7x3.6x
Wed, 01 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.8x76.7x3.4x
Fri, 29 Sep 2023Z$894.3bZ$305.6bZ$13.4b31.2x66.8x2.9x
Sun, 27 Aug 2023Z$851.8bZ$305.0bZ$13.0b27x65.6x2.8x
Tue, 25 Jul 2023Z$763.0bZ$305.0bZ$13.0b24.5x58.8x2.5x
Thu, 22 Jun 2023Z$888.2bZ$288.8bZ$10.8b23.4x82.3x3.1x
Sat, 20 May 2023Z$742.5bZ$235.2bZ$17.9b76.2x41.4x3.2x
Price to Earnings Ratio

41.4x


Total Market Cap: Z$742.5bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.4x202420252026
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 14.0x which is lower than its 3-year average PE of 21.4x.
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 Market1.97%
Financials4.03%
Consumer Staples2.62%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Industrials-0.47%
Materials-10.03%
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 8.2% 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 8.2% 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$28.024.3%
+US$1.5b		109.1%PE1924.4xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.1214.4%
+US$60.7m		-13.2%PE3.2xFinancials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.1010.0%
+US$10.3m		n/aPE7533.9xFinancials
See more

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Latest News

ZSEH
US$1.10
Zimbabwe Stock Exchange Holdings
7D
10.0%
1Y
n/a
NPKZ
US$0.75
Nampak Zimbabwe
7D
-11.8%
1Y
-31.8%
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
14.4%
1Y
-13.2%
DLTA
US$28.02
Delta
7D
4.3%
1Y
109.1%