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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies36
  • 7D21.1%
  • 3M80.0%
  • 1Y81.2%
  • YTD24.3%

The market is up 21% over the last week, with the Consumer Staples sector leading the way, up 34%. In contrast, the Materials sector is lagging, dropping 11%. In the last year, the market has climbed 81%. 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, 13 Jan 2026Z$103.0bZ$74.5bZ$7.8b18.2x13.2x1.4x
Thu, 11 Dec 2025Z$80.3bZ$70.8bZ$7.7b347.2x10.4x1.1x
Sat, 08 Nov 2025Z$64.5bZ$64.0bZ$6.1b327.2x10.7x1x
Mon, 06 Oct 2025Z$59.5bZ$72.7bZ$8.4b388.7x7.1x0.8x
Wed, 03 Sep 2025Z$64.1bZ$77.0bZ$8.1b1219.1x7.9x0.8x
Fri, 01 Aug 2025Z$156.1bZ$74.7bZ$8.5b1176.1x18.5x2.1x
Sun, 29 Jun 2025Z$19.0bZ$4.5bZ$3.5b1097.8x5.4x4.2x
Tue, 27 May 2025Z$19.3bZ$1.3bZ$1.6b1228.7x12.2x14.5x
Thu, 24 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 22 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 17 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Wed, 15 Jan 2025Z$19.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 13 Dec 2024Z$19.9bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 10 Nov 2024Z$28.3bZ$998.5bZ$87.3b0.3x0.3x0.03x
Tue, 08 Oct 2024Z$26.1bZ$986.0bZ$80.0b0.4x0.3x0.03x
Thu, 05 Sep 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sat, 03 Aug 2024Z$21.0bZ$986.7bZ$80.2b0.6x0.3x0.02x
Mon, 01 Jul 2024Z$13.4bZ$1.0tZ$80.2b0.4x0.2x0.01x
Wed, 29 May 2024Z$10.5bZ$2.3tZ$382.6b0.03x0.03x0.005x
Fri, 26 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Sun, 24 Mar 2024Z$20.7tZ$1.9tZ$383.0b54.6x54x11x
Tue, 20 Feb 2024Z$11.2tZ$1.9tZ$383.0b26.8x29.2x5.9x
Thu, 18 Jan 2024Z$9.3tZ$1.5tZ$348.2b30.9x26.8x6.1x
Sat, 16 Dec 2023Z$5.0tZ$1.5tZ$348.2b30.9x14.4x3.3x
Mon, 13 Nov 2023Z$1.0tZ$413.7bZ$13.1b41.8x76.4x2.4x
Wed, 11 Oct 2023Z$1.0tZ$305.6bZ$13.4b41.1x76x3.3x
Fri, 08 Sep 2023Z$874.2bZ$305.0bZ$13.0b29.8x67.3x2.9x
Sun, 06 Aug 2023Z$787.0bZ$305.0bZ$13.0b24.2x60.6x2.6x
Tue, 04 Jul 2023Z$961.9bZ$305.0bZ$13.0b22.8x74.1x3.2x
Thu, 01 Jun 2023Z$737.9bZ$235.7bZ$17.9b30.9x41.3x3.1x
Sat, 29 Apr 2023Z$479.5bZ$235.2bZ$17.9b41.9x26.7x2x
Mon, 27 Mar 2023Z$502.9bZ$226.8bZ$17.6b30.9x28.5x2.2x
Wed, 22 Feb 2023Z$434.1bZ$226.8bZ$17.6b31.3x24.6x1.9x
Fri, 20 Jan 2023Z$380.6bZ$185.8bZ$15.3b29.2x24.8x2x
Price to Earnings Ratio

24.8x


Total Market Cap: Z$380.6bTotal Earnings: Z$15.3bTotal Revenue: Z$185.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.7x202420252026
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 13.2x which is lower than its 3-year average PE of 22.7x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 20% 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 Market21.13%
Consumer Staples34.13%
Financials7.95%
Industrials3.13%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Materials-10.54%
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$31.0041.5%
+US$12.0b		121.9%PE2128.7xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.1417.9%
+US$90.0m		-51.5%PE0.4xFinancials
PROL ProplasticsUS$1.507.1%
+US$26.0m		50.0%PE33.9xIndustrials
See more

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Latest News

PROL
US$1.50
Proplastics
7D
7.1%
1Y
50.0%
ZSEH
US$1.19
Zimbabwe Stock Exchange Holdings
7D
-8.3%
1Y
n/a
NPKZ
US$0.70
Nampak Zimbabwe
7D
-12.5%
1Y
-30.0%
TNCI
US$0.14
TN CyberTech Investments Holdings
7D
17.9%
1Y
-51.5%
DLTA
US$31.00
Delta
7D
41.5%
1Y
121.9%