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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies36
  • 7D2.8%
  • 3M38.0%
  • 1Y86.1%
  • YTD27.0%

Over the last 7 days, the market has risen 2.8%, driven by gains of 2.1% in the Financials sector. As for the past 12 months, the market is up 86%. 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
Sun, 29 Mar 2026Z$105.2bZ$74.5bZ$7.8b15.6x13.5x1.4x
Tue, 24 Feb 2026Z$103.4bZ$74.5bZ$7.8b14.6x13.2x1.4x
Thu, 22 Jan 2026Z$105.2bZ$74.5bZ$7.8b17.1x13.5x1.4x
Sat, 20 Dec 2025Z$74.6bZ$71.4bZ$7.6b310.8x9.8x1x
Mon, 17 Nov 2025Z$52.5bZ$68.7bZ$8.3b414x6.3x0.8x
Wed, 15 Oct 2025Z$58.0bZ$66.7bZ$8.2b376.7x7x0.9x
Fri, 12 Sep 2025Z$63.8bZ$77.0bZ$8.1b1120x7.9x0.8x
Sun, 10 Aug 2025Z$153.5bZ$74.7bZ$8.5b1200.1x18.2x2.1x
Tue, 08 Jul 2025Z$19.0bZ$4.5bZ$3.5b1176.4x5.4x4.2x
Thu, 05 Jun 2025Z$19.5bZ$1.3bZ$1.6b1229.4x12.3x14.7x
Sat, 03 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 31 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 26 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 24 Jan 2025Z$19.2bZ$810.1bZ$91.4b0.2x0.2x0.02x
Sun, 22 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 19 Nov 2024Z$28.4bZ$993.6bZ$87.3b0.3x0.3x0.03x
Thu, 17 Oct 2024Z$28.4bZ$986.0bZ$80.0b0.4x0.4x0.03x
Sat, 14 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Mon, 12 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Wed, 10 Jul 2024Z$16.3bZ$1.0tZ$80.2b0.4x0.2x0.02x
Fri, 07 Jun 2024Z$11.4bZ$1.0tZ$80.2b0.3x0.1x0.01x
Sun, 05 May 2024Z$10.4bZ$2.3tZ$382.6b0.03x0.03x0.004x
Tue, 02 Apr 2024Z$23.9tZ$1.9tZ$382.6b63.6x62.4x12.7x
Thu, 29 Feb 2024Z$12.8tZ$1.9tZ$383.0b31.5x33.5x6.8x
Sat, 27 Jan 2024Z$12.6tZ$1.5tZ$348.2b31.9x36.3x8.3x
Mon, 25 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Wed, 22 Nov 2023Z$985.7bZ$413.7bZ$13.1b41.8x75x2.4x
Fri, 20 Oct 2023Z$1.0tZ$305.6bZ$13.4b41.8x76.1x3.3x
Sun, 17 Sep 2023Z$961.5bZ$305.0bZ$13.0b31.2x74.1x3.2x
Tue, 15 Aug 2023Z$842.3bZ$305.0bZ$13.0b25.1x64.9x2.8x
Thu, 13 Jul 2023Z$886.8bZ$305.0bZ$13.0b24.8x68.3x2.9x
Sat, 10 Jun 2023Z$898.6bZ$288.8bZ$10.8b23x83.2x3.1x
Mon, 08 May 2023Z$523.9bZ$235.2bZ$17.9b48x29.2x2.2x
Wed, 05 Apr 2023Z$464.3bZ$226.8bZ$17.6b30.9x26.3x2x
Price to Earnings Ratio

26.3x


Total Market Cap: Z$464.3bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.9x202420252026
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 21.9x.
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 31% 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 Market2.78%
Financials2.12%
Consumer Staples0.38%
Materials0.14%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Industrials-0.31%
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
ZSEH Zimbabwe Stock Exchange HoldingsUS$1.2326.3%
+US$26.2m		n/an/aFinancials
DLTA DeltaUS$26.720.02%
+US$6.0m		75.3%PE1834.9xConsumer Staples
PROL ProplasticsUS$1.260.8%
+US$2.6m		14.5%PE28.5xIndustrials
See more

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Latest News

PROL
US$1.26
Proplastics
7D
0.8%
1Y
14.5%
ZSEH
US$1.23
Zimbabwe Stock Exchange Holdings
7D
26.3%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
-4.4%
1Y
-31.3%
DLTA
US$26.72
Delta
7D
0.02%
1Y
75.3%