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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies37
  • 7D2.8%
  • 3M9.1%
  • 1Y-23.4%
  • YTD-0.3%

The market has climbed 2.8% in the last 7 days, lead by the Consumer Staples sector with a gain of 3.7%. Over the past year the market is down 23%.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 26 Nov 2025Z$52.1bZ$70.8bZ$7.7b547.1x6.7x0.7x
Fri, 24 Oct 2025Z$63.0bZ$66.7bZ$8.2b377.1x7.7x0.9x
Sun, 21 Sep 2025Z$61.7bZ$77.3bZ$8.9b1123.3x6.9x0.8x
Tue, 19 Aug 2025Z$153.3bZ$76.4bZ$8.6b1220.7x17.9x2x
Thu, 17 Jul 2025Z$19.1bZ$4.5bZ$3.5b1174.1x5.4x4.3x
Sat, 14 Jun 2025Z$19.0bZ$4.5bZ$3.5b1022x5.4x4.2x
Mon, 12 May 2025Z$19.2bZ$1.3bZ$1.6b1142.3x12.1x14.5x
Wed, 09 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 07 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 02 Feb 2025Z$17.9bZ$269.0bZ$41.4b0.4x0.4x0.07x
Tue, 31 Dec 2024Z$19.8bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 28 Nov 2024Z$28.6bZ$993.6bZ$87.3b0.3x0.3x0.03x
Sat, 26 Oct 2024Z$30.8bZ$986.0bZ$80.0b0.4x0.4x0.03x
Mon, 23 Sep 2024Z$26.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Wed, 21 Aug 2024Z$20.5bZ$986.7bZ$80.2b0.6x0.3x0.02x
Fri, 19 Jul 2024Z$20.4bZ$1.0tZ$80.2b0.5x0.3x0.02x
Sun, 16 Jun 2024Z$12.6bZ$1.0tZ$80.2b0.4x0.2x0.01x
Tue, 14 May 2024Z$10.1bZ$2.3tZ$382.6b0.03x0.03x0.004x
Thu, 11 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Sat, 09 Mar 2024Z$12.8tZ$1.9tZ$383.0b31.5x33.3x6.8x
Mon, 05 Feb 2024Z$15.7tZ$1.5tZ$348.2b38.2x45.1x10.2x
Wed, 03 Jan 2024Z$5.7tZ$1.5tZ$348.2b30.9x16.4x3.7x
Fri, 01 Dec 2023Z$5.4tZ$1.5tZ$348.2b30.9x15.6x3.6x
Sun, 29 Oct 2023Z$1.0tZ$305.6bZ$13.4b42x76.8x3.4x
Tue, 26 Sep 2023Z$914.1bZ$305.6bZ$13.4b31.2x68.2x3x
Thu, 24 Aug 2023Z$863.0bZ$305.0bZ$13.0b27x66.5x2.8x
Sat, 22 Jul 2023Z$812.1bZ$305.0bZ$13.0b24.8x62.6x2.7x
Mon, 19 Jun 2023Z$894.1bZ$288.8bZ$10.8b23.4x82.8x3.1x
Wed, 17 May 2023Z$718.2bZ$235.2bZ$17.9b74.6x40.1x3.1x
Fri, 14 Apr 2023Z$416.7bZ$226.8bZ$17.6b30.9x23.6x1.8x
Sun, 12 Mar 2023Z$446.9bZ$226.8bZ$17.6b30.9x25.4x2x
Tue, 07 Feb 2023Z$391.4bZ$226.8bZ$17.6b27.8x22.2x1.7x
Thu, 05 Jan 2023Z$367.1bZ$186.2bZ$13.2b25x27.7x2x
Sat, 03 Dec 2022Z$303.3bZ$186.2bZ$13.2b19.5x22.9x1.6x
Price to Earnings Ratio

22.9x


Total Market Cap: Z$303.3bTotal Earnings: Z$13.2bTotal Revenue: Z$186.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 23.3x202320242025
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 6.7x which is lower than its 3-year average PE of 23.3x.
Past Earnings Growth
  • The earnings for companies in the Zimbabwean industry have declined 16% per year over the last three years.
  • Revenues have also declined 28% 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 Market2.77%
Materials23.58%
Financials4.10%
Consumer Staples3.67%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Industrials-0.33%
Sector PE
  • Investors favour the Materials sector the most for future growth even though it's trading below its 3-year average PE ratio of 104x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
NPKZ Nampak ZimbabweUS$0.9227.3%
+US$149.2m		-3.2%PE1139xMaterials
DLTA DeltaUS$15.690.6%
+US$117.5m		-21.2%PE1077.6xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.120.4%
+US$2.1m		-71.6%PE0.4xFinancials
See more

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TNCI
US$0.12
TN CyberTech Investments Holdings
7D
0.4%
1Y
-71.6%
ZSEH
US$1.15
Zimbabwe Stock Exchange Holdings
7D
-9.1%
1Y
n/a
DLTA
US$15.69
Delta
7D
0.6%
1Y
-21.2%
NPKZ
US$0.92
Nampak Zimbabwe
7D
27.3%
1Y
-3.2%