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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies36
  • 7D0.3%
  • 3M2.2%
  • 1Y96.3%
  • YTD27.7%

The Materials sector gained 8.5% while the market remained flat over the last week. Meanwhile, the market is actually up 96% over the past year. 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
Tue, 28 Apr 2026Z$107.3bZ$63.8bZ$8.0b1837.3x13.5x1.7x
Thu, 26 Mar 2026Z$106.0bZ$74.5bZ$7.8b15.6x13.6x1.4x
Sat, 21 Feb 2026Z$103.7bZ$74.5bZ$7.8b14.6x13.3x1.4x
Mon, 19 Jan 2026Z$103.8bZ$74.5bZ$7.8b16.3x13.3x1.4x
Wed, 17 Dec 2025Z$74.9bZ$71.4bZ$7.6b289.8x9.8x1x
Fri, 14 Nov 2025Z$65.5bZ$65.2bZ$6.1b414.1x10.8x1x
Sun, 12 Oct 2025Z$56.8bZ$70.1bZ$8.3b329.1x6.8x0.8x
Tue, 09 Sep 2025Z$63.9bZ$77.0bZ$8.1b1119.1x7.9x0.8x
Thu, 07 Aug 2025Z$154.5bZ$74.7bZ$8.5b1199.3x18.3x2.1x
Sat, 05 Jul 2025Z$19.1bZ$4.5bZ$3.5b1177.3x5.4x4.2x
Mon, 02 Jun 2025Z$19.5bZ$1.3bZ$1.6b1229.4x12.3x14.7x
Wed, 30 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 28 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 23 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 21 Jan 2025Z$19.3bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 19 Dec 2024Z$19.9bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sat, 16 Nov 2024Z$28.0bZ$993.6bZ$87.3b0.3x0.3x0.03x
Mon, 14 Oct 2024Z$26.9bZ$986.0bZ$80.0b0.4x0.3x0.03x
Wed, 11 Sep 2024Z$24.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Fri, 09 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sun, 07 Jul 2024Z$14.5bZ$1.0tZ$80.2b0.4x0.2x0.01x
Tue, 04 Jun 2024Z$11.2bZ$1.0tZ$80.2b0.3x0.1x0.01x
Thu, 02 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Sat, 30 Mar 2024Z$23.9tZ$1.9tZ$382.6b63.6x62.4x12.7x
Mon, 26 Feb 2024Z$11.4tZ$1.9tZ$383.0b27.7x29.9x6.1x
Wed, 24 Jan 2024Z$11.4tZ$1.5tZ$348.2b30.9x32.6x7.4x
Fri, 22 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Sun, 19 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Tue, 17 Oct 2023Z$1.0tZ$305.6bZ$13.4b43.8x76.9x3.4x
Thu, 14 Sep 2023Z$965.5bZ$305.0bZ$13.0b31.2x74.4x3.2x
Sat, 12 Aug 2023Z$842.3bZ$305.0bZ$13.0b25.1x64.9x2.8x
Mon, 10 Jul 2023Z$967.7bZ$305.0bZ$13.0b23.6x74.5x3.2x
Wed, 07 Jun 2023Z$785.3bZ$288.8bZ$10.8b22.8x72.7x2.7x
Fri, 05 May 2023Z$490.8bZ$235.2bZ$17.9b43.8x27.4x2.1x
Price to Earnings Ratio

27.4x


Total Market Cap: Z$490.8bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.6x202420252026
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 13.5x which is lower than its 3-year average PE of 21.6x.
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 Market0.31%
Materials8.47%
Financials2.69%
Industrials2.22%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Consumer Staples-1.49%
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
NPKZ Nampak ZimbabweUS$0.856.5%
+US$39.3m		-25.8%PE3.1xMaterials
TNCI TN CyberTech Investments HoldingsUS$0.109.5%
+US$36.5m		-25.7%PE2.8xFinancials
See more

Market Insights

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PROL
US$1.48
Proplastics
7D
-1.3%
1Y
80.9%
ZSEH
US$1.03
Zimbabwe Stock Exchange Holdings
7D
-5.4%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
6.5%
1Y
-25.8%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
9.5%
1Y
-25.7%
DLTA
US$26.76
Delta
7D
-0.9%
1Y
104.8%