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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedJun 28, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.4%
  • 3M8.8%
  • 1Y108.1%
  • YTD39.3%

The market has been flat in the last week, however the Materials sector is down 8.8%. As for the longer term, the market has risen 108% in the past 12 months. As for the next few years, earnings are expected to grow by 8.7% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Jun 2026Z$114.7bZ$64.3bZ$7.9b1738.2x14.6x1.8x
Tue, 26 May 2026Z$112.3bZ$64.3bZ$7.9b2067.2x14.3x1.7x
Thu, 23 Apr 2026Z$107.0bZ$63.8bZ$8.0b1853.5x13.4x1.7x
Sat, 21 Mar 2026Z$101.7bZ$74.5bZ$7.8b15.5x13x1.4x
Mon, 16 Feb 2026Z$105.3bZ$74.5bZ$7.8b16.9x13.5x1.4x
Wed, 14 Jan 2026Z$105.3bZ$74.5bZ$7.8b15.7x13.5x1.4x
Fri, 12 Dec 2025Z$77.5bZ$70.8bZ$7.7b309.7x10.1x1.1x
Sun, 09 Nov 2025Z$64.5bZ$64.0bZ$6.1b327.2x10.7x1x
Tue, 07 Oct 2025Z$59.1bZ$72.7bZ$8.4b388.7x7x0.8x
Thu, 04 Sep 2025Z$64.3bZ$77.0bZ$8.1b1218.6x8x0.8x
Sat, 02 Aug 2025Z$157.0bZ$74.7bZ$8.5b1199.3x18.6x2.1x
Mon, 30 Jun 2025Z$19.0bZ$4.5bZ$3.5b1097.8x5.4x4.2x
Wed, 28 May 2025Z$19.4bZ$1.3bZ$1.6b1231.7x12.2x14.5x
Fri, 25 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 23 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 18 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Thu, 16 Jan 2025Z$19.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 14 Dec 2024Z$20.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 11 Nov 2024Z$28.3bZ$998.5bZ$87.3b0.3x0.3x0.03x
Wed, 09 Oct 2024Z$26.2bZ$986.0bZ$80.0b0.4x0.3x0.03x
Fri, 06 Sep 2024Z$21.6bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 04 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Tue, 02 Jul 2024Z$13.5bZ$1.0tZ$80.2b0.4x0.2x0.01x
Thu, 30 May 2024Z$11.2bZ$2.3tZ$382.6b0.03x0.03x0.005x
Sat, 27 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Mon, 25 Mar 2024Z$20.7tZ$1.9tZ$383.0b54.6x54x11x
Wed, 21 Feb 2024Z$11.2tZ$1.9tZ$383.0b26.8x29.2x5.9x
Fri, 19 Jan 2024Z$9.5tZ$1.5tZ$348.2b30.9x27.3x6.2x
Sun, 17 Dec 2023Z$5.0tZ$1.5tZ$348.2b30.9x14.4x3.3x
Tue, 14 Nov 2023Z$968.2bZ$413.7bZ$13.1b41.8x73.7x2.3x
Thu, 12 Oct 2023Z$1.0tZ$305.6bZ$13.4b43.8x77.5x3.4x
Sat, 09 Sep 2023Z$910.0bZ$305.0bZ$13.0b29.8x70.1x3x
Mon, 07 Aug 2023Z$787.0bZ$305.0bZ$13.0b24.2x60.6x2.6x
Wed, 05 Jul 2023Z$969.7bZ$305.0bZ$13.0b22.8x74.7x3.2x
Price to Earnings Ratio

74.7x


Total Market Cap: Z$969.7bTotal Earnings: Z$13.0bTotal Revenue: Z$305.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 19.4x202420252026
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 14.6x which is lower than its 3-year average PE of 19.4x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 15% per year over the last three years.
  • Revenues have also declined 40% 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-0.41%
Financials0.60%
Industrials0.50%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Consumer Staples-0.98%
Materials-8.79%
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 268x.
    • 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 8.7% 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 8.7% 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
TNCI TN CyberTech Investments HoldingsUS$0.1715.0%
+US$93.3m		21.9%PE4.8xFinancials
DLTA DeltaUS$30.040.2%
+US$61.7m		126.7%PE2018.7xConsumer Staples
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.5529.2%
+US$35.9m		n/aPE10616xFinancials
See more

Market Insights

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TNCI
US$0.17
TN CyberTech Investments Holdings
7D
15.0%
1Y
21.9%
PROL
US$1.20
Proplastics
7D
-13.7%
1Y
-3.1%
NPKZ
US$0.75
Nampak Zimbabwe
7D
-12.8%
1Y
-11.9%
ZSEH
US$1.55
Zimbabwe Stock Exchange Holdings
7D
29.2%
1Y
n/a
DLTA
US$30.04
Delta
7D
0.2%
1Y
126.7%