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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedJan 06, 2026
DataAggregated Company Financials
Companies37
  • 7D10.5%
  • 3M48.5%
  • 1Y45.4%
  • YTD2.6%

In the last week, the market is up 11% led by Consumer Staples sector. In the last year, the market has climbed 45%. Looking forward, 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
Tue, 06 Jan 2026Z$85.2bZ$74.7bZ$7.7b17.3x11.1x1.1x
Thu, 04 Dec 2025Z$71.3bZ$70.8bZ$7.7b568.8x9.2x1x
Sat, 01 Nov 2025Z$65.4bZ$66.7bZ$8.2b324.2x7.9x1x
Mon, 29 Sep 2025Z$63.4bZ$77.6bZ$8.8b1123.2x7.2x0.8x
Wed, 27 Aug 2025Z$63.0bZ$78.7bZ$8.2b1225x7.7x0.8x
Fri, 25 Jul 2025Z$19.2bZ$4.5bZ$3.5b1171.9x5.4x4.3x
Sun, 22 Jun 2025Z$19.1bZ$4.5bZ$3.5b1074.7x5.4x4.3x
Tue, 20 May 2025Z$19.2bZ$1.3bZ$1.6b1200.6x12.1x14.5x
Thu, 17 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 15 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 10 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Wed, 08 Jan 2025Z$19.5bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 06 Dec 2024Z$21.3bZ$810.1bZ$91.4b0.3x0.2x0.03x
Sun, 03 Nov 2024Z$28.5bZ$986.0bZ$80.0b0.4x0.4x0.03x
Tue, 01 Oct 2024Z$25.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Thu, 29 Aug 2024Z$20.7bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sat, 27 Jul 2024Z$20.9bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 24 Jun 2024Z$12.9bZ$1.0tZ$80.2b0.4x0.2x0.01x
Wed, 22 May 2024Z$9.9bZ$2.3tZ$382.6b0.03x0.03x0.004x
Fri, 19 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Sun, 17 Mar 2024Z$17.1tZ$1.9tZ$383.0b44.3x44.6x9.1x
Tue, 13 Feb 2024Z$13.1tZ$1.4tZ$336.2b82.5x39.1x9.5x
Thu, 11 Jan 2024Z$7.6tZ$1.5tZ$348.2b30.9x21.9x5x
Sat, 09 Dec 2023Z$5.4tZ$1.5tZ$348.2b30.9x15.6x3.5x
Mon, 06 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.9x76.5x3.4x
Wed, 04 Oct 2023Z$940.1bZ$305.6bZ$13.4b32.8x70.2x3.1x
Fri, 01 Sep 2023Z$847.1bZ$305.0bZ$13.0b27.2x65.2x2.8x
Sun, 30 Jul 2023Z$785.8bZ$305.0bZ$13.0b25.7x60.5x2.6x
Tue, 27 Jun 2023Z$889.6bZ$288.8bZ$10.8b23.4x82.4x3.1x
Thu, 25 May 2023Z$730.5bZ$235.2bZ$17.9b69.9x40.7x3.1x
Sat, 22 Apr 2023Z$403.7bZ$235.2bZ$17.9b32.5x22.5x1.7x
Mon, 20 Mar 2023Z$473.0bZ$226.8bZ$17.6b30.9x26.8x2.1x
Wed, 15 Feb 2023Z$471.1bZ$226.8bZ$17.6b32.8x26.7x2.1x
Fri, 13 Jan 2023Z$386.8bZ$185.8bZ$15.3b23.4x25.2x2.1x
Price to Earnings Ratio

25.2x


Total Market Cap: Z$386.8bTotal 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 11.1x 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 Market10.50%
Financials14.73%
Consumer Staples9.40%
Real Estate0%0
Materials0%0
Consumer Discretionary0%0
Telecom0%0
Industrials-0.39%
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$21.9110.4%
+US$2.7b		57.5%PE1504.5xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.124.3%
+US$21.0m		-57.7%PE0.4xFinancials
See more

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PROL
US$1.40
Proplastics
7D
-3.2%
1Y
-5.5%
ZSEH
US$1.30
Zimbabwe Stock Exchange Holdings
7D
-13.3%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
4.3%
1Y
-57.7%
DLTA
US$21.91
Delta
7D
10.4%
1Y
57.5%