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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 05, 2026
DataAggregated Company Financials
Companies36
  • 7D0.7%
  • 3M8.7%
  • 1Y89.3%
  • YTD27.9%

Over the last 7 days, the market has risen 1.8%, driven by gains in every sector, especially the Consumer Staples sector. The market is up 88% over the last 12 months. Looking forward, earnings are forecast to grow by 8.6% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 05 May 2026Z$107.8bZ$64.3bZ$7.9b1840.4x13.7x1.7x
Thu, 02 Apr 2026Z$104.1bZ$74.7bZ$7.5b896.5x13.9x1.4x
Sat, 28 Feb 2026Z$103.7bZ$74.5bZ$7.8b16.4x13.3x1.4x
Mon, 26 Jan 2026Z$105.3bZ$74.5bZ$7.8b17.1x13.5x1.4x
Wed, 24 Dec 2025Z$75.6bZ$71.4bZ$7.6b312.1x9.9x1.1x
Fri, 21 Nov 2025Z$51.8bZ$70.8bZ$7.7b506.8x6.7x0.7x
Sun, 19 Oct 2025Z$60.4bZ$66.7bZ$8.2b382x7.3x0.9x
Tue, 16 Sep 2025Z$63.6bZ$77.3bZ$8.9b1123.8x7.1x0.8x
Thu, 14 Aug 2025Z$153.5bZ$75.7bZ$8.3b1200x18.6x2x
Sat, 12 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.4x4.2x
Mon, 09 Jun 2025Z$19.3bZ$4.5bZ$3.5b1146.9x5.5x4.3x
Wed, 07 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 04 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 02 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 28 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 26 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 23 Nov 2024Z$29.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Mon, 21 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Wed, 18 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Fri, 16 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 14 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Tue, 11 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Thu, 09 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sat, 06 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Mon, 04 Mar 2024Z$13.2tZ$1.9tZ$383.0b31.9x34.3x7x
Wed, 31 Jan 2024Z$14.7tZ$1.5tZ$348.2b37.4x42.2x9.6x
Fri, 29 Dec 2023Z$5.3tZ$1.5tZ$348.2b30.9x15.1x3.4x
Sun, 26 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Tue, 24 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.5x76.2x3.3x
Thu, 21 Sep 2023Z$909.8bZ$305.0bZ$13.0b31.2x70.1x3x
Sat, 19 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Mon, 17 Jul 2023Z$877.4bZ$305.0bZ$13.0b24.6x67.6x2.9x
Wed, 14 Jun 2023Z$924.0bZ$288.8bZ$10.8b24.1x85.6x3.2x
Fri, 12 May 2023Z$592.1bZ$235.2bZ$17.9b58x33x2.5x
Price to Earnings Ratio

33x


Total Market Cap: Z$592.1bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.5x202420252026
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 13.7x which is lower than its 3-year average PE of 21.5x.
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 Market0.73%
Materials5.50%
Industrials4.16%
Consumer Staples1.79%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-2.28%
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 8.6% 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 8.6% 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$26.800.2%
+US$58.3m		106.0%PE1840.4xConsumer Staples
PROL ProplasticsUS$1.501.4%
+US$5.2m		83.8%PE2172.7xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.100.5%
+US$2.2m		-22.8%PE2.8xFinancials
See more

Market Insights

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PROL
US$1.50
Proplastics
7D
1.4%
1Y
83.8%
ZSEH
US$0.98
Zimbabwe Stock Exchange Holdings
7D
-5.3%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
-0.3%
1Y
-22.7%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
0.5%
1Y
-22.8%
DLTA
US$26.80
Delta
7D
0.2%
1Y
106.0%