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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies36
  • 7D-2.3%
  • 3M64.7%
  • 1Y94.3%
  • YTD22.3%

Over the last 7 days, the market has dropped 2.3%, driven by a decline of 4.2% in the Financials sector. In contrast to the last week, the market is actually up 94% over the past year. Looking forward, 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
Sat, 07 Feb 2026Z$104.2bZ$74.5bZ$7.8b16.3x13.3x1.4x
Mon, 05 Jan 2026Z$83.0bZ$74.7bZ$7.7b17.3x10.8x1.1x
Wed, 03 Dec 2025Z$71.2bZ$70.8bZ$7.7b568.8x9.2x1x
Fri, 31 Oct 2025Z$64.2bZ$66.7bZ$8.2b324.2x7.8x1x
Sun, 28 Sep 2025Z$63.4bZ$77.6bZ$8.8b1123.2x7.2x0.8x
Tue, 26 Aug 2025Z$63.0bZ$78.7bZ$8.2b1225x7.7x0.8x
Thu, 24 Jul 2025Z$17.9bZ$4.5bZ$3.5b1127.3x5.1x4x
Sat, 21 Jun 2025Z$19.1bZ$4.5bZ$3.5b1074.7x5.4x4.3x
Mon, 19 May 2025Z$19.3bZ$1.3bZ$1.6b1203.8x12.2x14.6x
Wed, 16 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 14 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 09 Feb 2025Z$17.8bZ$269.0bZ$41.4b0.4x0.4x0.07x
Tue, 07 Jan 2025Z$19.5bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 05 Dec 2024Z$23.6bZ$810.1bZ$91.4b0.3x0.3x0.03x
Sat, 02 Nov 2024Z$28.5bZ$986.0bZ$80.0b0.4x0.4x0.03x
Mon, 30 Sep 2024Z$25.7bZ$986.0bZ$80.0b0.4x0.3x0.03x
Wed, 28 Aug 2024Z$20.7bZ$986.7bZ$80.2b0.6x0.3x0.02x
Fri, 26 Jul 2024Z$20.4bZ$1.0tZ$80.2b0.5x0.3x0.02x
Sun, 23 Jun 2024Z$12.9bZ$1.0tZ$80.2b0.4x0.2x0.01x
Tue, 21 May 2024Z$10.1bZ$2.3tZ$382.6b0.03x0.03x0.004x
Thu, 18 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.6x13.1x
Sat, 16 Mar 2024Z$17.1tZ$1.9tZ$383.0b44.3x44.6x9.1x
Mon, 12 Feb 2024Z$13.7tZ$1.4tZ$336.2b80.5x40.7x9.9x
Wed, 10 Jan 2024Z$7.7tZ$1.5tZ$348.2b30.9x22x5x
Fri, 08 Dec 2023Z$5.4tZ$1.5tZ$348.2b30.9x15.5x3.5x
Sun, 05 Nov 2023Z$1.0tZ$305.6bZ$13.4b41.9x76.5x3.4x
Tue, 03 Oct 2023Z$932.3bZ$305.6bZ$13.4b32.8x69.6x3.1x
Thu, 31 Aug 2023Z$829.3bZ$305.0bZ$13.0b25.7x63.9x2.7x
Sat, 29 Jul 2023Z$785.8bZ$305.0bZ$13.0b25.7x60.5x2.6x
Mon, 26 Jun 2023Z$888.5bZ$288.8bZ$10.8b23.4x82.3x3.1x
Wed, 24 May 2023Z$730.5bZ$235.2bZ$17.9b70x40.7x3.1x
Fri, 21 Apr 2023Z$395.4bZ$235.2bZ$17.9b31.7x22.1x1.7x
Sun, 19 Mar 2023Z$473.0bZ$226.8bZ$17.6b30.9x26.8x2.1x
Tue, 14 Feb 2023Z$479.2bZ$226.8bZ$17.6b32.9x27.2x2.1x
Price to Earnings Ratio

27.2x


Total Market Cap: Z$479.2bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.5x202420252026
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 13.0x which is lower than its 3-year average PE of 22.5x.
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 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 Market1.69%
Materials12.05%
Financials2.79%
Consumer Staples2.27%
Industrials0.33%
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 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
NPKZ Nampak ZimbabweUS$0.8714.5%
+US$83.1m		8.8%PE3.2xMaterials
See more

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PROL
US$1.30
Proplastics
7D
-3.7%
1Y
54.5%
ZSEH
US$0.70
Zimbabwe Stock Exchange Holdings
7D
-12.5%
1Y
n/a
NPKZ
US$0.87
Nampak Zimbabwe
7D
14.5%
1Y
8.8%
TNCI
US$0.11
TN CyberTech Investments Holdings
7D
-14.3%
1Y
-60.3%
DLTA
US$29.01
Delta
7D
-0.06%
1Y
124.4%