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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies36
  • 7D2.1%
  • 3M3.3%
  • 1Y96.0%
  • YTD30.6%

The market is up 2.1% in the last 7 days, led by the Consumer Staples and all sectors gaining ground. The market is up 96% over the last 12 months. Looking forward, 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
Sat, 09 May 2026Z$109.8bZ$64.3bZ$7.9b1923.6x14x1.7x
Mon, 06 Apr 2026Z$105.3bZ$70.4bZ$7.8b911.2x13.5x1.5x
Wed, 04 Mar 2026Z$104.0bZ$74.5bZ$7.8b13.8x13.3x1.4x
Fri, 30 Jan 2026Z$103.2bZ$74.5bZ$7.8b17.1x13.2x1.4x
Sun, 28 Dec 2025Z$76.4bZ$73.9bZ$7.8b15.7x9.7x1x
Tue, 25 Nov 2025Z$52.8bZ$70.8bZ$7.7b547.1x6.8x0.7x
Thu, 23 Oct 2025Z$62.4bZ$66.7bZ$8.2b378x7.6x0.9x
Sat, 20 Sep 2025Z$63.3bZ$77.3bZ$8.9b1123.3x7.1x0.8x
Mon, 18 Aug 2025Z$152.9bZ$76.4bZ$8.6b1220.7x17.9x2x
Wed, 16 Jul 2025Z$19.2bZ$4.5bZ$3.5b1173.7x5.4x4.3x
Fri, 13 Jun 2025Z$19.1bZ$4.5bZ$3.5b1075.5x5.4x4.2x
Sun, 11 May 2025Z$19.2bZ$1.3bZ$1.6b1142.3x12.1x14.5x
Tue, 08 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 06 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 01 Feb 2025Z$17.9bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 30 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 27 Nov 2024Z$28.6bZ$993.6bZ$87.3b0.3x0.3x0.03x
Fri, 25 Oct 2024Z$29.0bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sun, 22 Sep 2024Z$26.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Tue, 20 Aug 2024Z$20.5bZ$986.7bZ$80.2b0.6x0.3x0.02x
Thu, 18 Jul 2024Z$20.1bZ$1.0tZ$80.2b0.5x0.3x0.02x
Sat, 15 Jun 2024Z$12.6bZ$1.0tZ$80.2b0.4x0.2x0.01x
Mon, 13 May 2024Z$10.1bZ$2.3tZ$382.6b0.03x0.03x0.004x
Wed, 10 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Fri, 08 Mar 2024Z$12.7tZ$1.9tZ$383.0b31.2x33.3x6.8x
Sun, 04 Feb 2024Z$15.7tZ$1.5tZ$348.2b38.2x45.1x10.2x
Tue, 02 Jan 2024Z$5.6tZ$1.5tZ$348.2b30.9x16x3.6x
Thu, 30 Nov 2023Z$964.1bZ$413.7bZ$13.1b39.1x73.4x2.3x
Sat, 28 Oct 2023Z$1.0tZ$305.6bZ$13.4b42x76.8x3.4x
Mon, 25 Sep 2023Z$896.9bZ$305.6bZ$13.4b31.2x66.9x2.9x
Wed, 23 Aug 2023Z$863.0bZ$305.0bZ$13.0b27x66.5x2.8x
Fri, 21 Jul 2023Z$821.4bZ$305.0bZ$13.0b24.9x63.3x2.7x
Sun, 18 Jun 2023Z$894.1bZ$288.8bZ$10.8b23.4x82.8x3.1x
Tue, 16 May 2023Z$637.8bZ$235.2bZ$17.9b67x35.6x2.7x
Price to Earnings Ratio

35.6x


Total Market Cap: Z$637.8bTotal 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 Market2.05%
Consumer Staples4.02%
Materials2.95%
Industrials1.68%
Financials0.68%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
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$28.235.3%
+US$1.9b		109.3%PE1938.5xConsumer Staples
NPKZ Nampak ZimbabweUS$0.861.8%
+US$11.3m		-21.4%PE3.1xMaterials
TNCI TN CyberTech Investments HoldingsUS$0.102.2%
+US$9.2m		-23.1%PE2.9xFinancials
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.107.9%
+US$8.2m		n/aPE7533.9xFinancials
PROL ProplasticsUS$1.501.3%
+US$4.9m		82.9%PE2172.7xIndustrials
See more

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PROL
US$1.50
Proplastics
7D
1.3%
1Y
82.9%
ZSEH
US$1.10
Zimbabwe Stock Exchange Holdings
7D
7.9%
1Y
n/a
NPKZ
US$0.86
Nampak Zimbabwe
7D
1.8%
1Y
-21.4%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
2.2%
1Y
-23.1%
DLTA
US$28.23
Delta
7D
5.3%
1Y
109.3%