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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies36
  • 7D-0.5%
  • 3M53.8%
  • 1Y92.8%
  • YTD24.9%

The market has been flat in the last week, however the Materials sector is down 8.5%. As for the longer term, the market has risen 93% in the past 12 months. 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
Thu, 26 Feb 2026Z$103.6bZ$74.5bZ$7.8b16.4x13.3x1.4x
Sat, 24 Jan 2026Z$105.3bZ$74.5bZ$7.8b17.1x13.5x1.4x
Mon, 22 Dec 2025Z$74.6bZ$71.4bZ$7.6b310.8x9.8x1x
Wed, 19 Nov 2025Z$51.7bZ$70.8bZ$7.7b458.8x6.7x0.7x
Fri, 17 Oct 2025Z$59.7bZ$66.7bZ$8.2b382x7.3x0.9x
Sun, 14 Sep 2025Z$63.9bZ$77.4bZ$8.9b1123.7x7.1x0.8x
Tue, 12 Aug 2025Z$153.5bZ$74.7bZ$8.5b1200.1x18.2x2.1x
Thu, 10 Jul 2025Z$19.0bZ$4.5bZ$3.5b1174x5.4x4.2x
Sat, 07 Jun 2025Z$19.3bZ$4.5bZ$3.5b1146.9x5.5x4.3x
Mon, 05 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Wed, 02 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Fri, 28 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sun, 26 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Tue, 24 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Thu, 21 Nov 2024Z$29.2bZ$993.6bZ$87.3b0.3x0.3x0.03x
Sat, 19 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Mon, 16 Sep 2024Z$29.3bZ$986.7bZ$80.2b0.8x0.4x0.03x
Wed, 14 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Fri, 12 Jul 2024Z$18.4bZ$1.0tZ$80.2b0.5x0.2x0.02x
Sun, 09 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Tue, 07 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Thu, 04 Apr 2024Z$24.3tZ$1.9tZ$382.6b64.3x63.6x12.9x
Sat, 02 Mar 2024Z$13.2tZ$1.9tZ$383.0b31.9x34.3x7x
Mon, 29 Jan 2024Z$12.6tZ$1.5tZ$348.2b31.9x36.3x8.3x
Wed, 27 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Fri, 24 Nov 2023Z$961.6bZ$413.7bZ$13.1b39x73.2x2.3x
Sun, 22 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.7x75.8x3.3x
Tue, 19 Sep 2023Z$948.0bZ$305.0bZ$13.0b31.2x73x3.1x
Thu, 17 Aug 2023Z$837.5bZ$305.0bZ$13.0b25.1x64.5x2.7x
Sat, 15 Jul 2023Z$877.4bZ$305.0bZ$13.0b24.6x67.6x2.9x
Mon, 12 Jun 2023Z$898.6bZ$288.8bZ$10.8b23x83.2x3.1x
Wed, 10 May 2023Z$587.8bZ$235.2bZ$17.9b57.6x32.8x2.5x
Fri, 07 Apr 2023Z$462.9bZ$226.8bZ$17.6b30.9x26.3x2x
Sun, 05 Mar 2023Z$453.2bZ$226.8bZ$17.6b30.9x25.7x2x
Price to Earnings Ratio

25.7x


Total Market Cap: Z$453.2bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.2x202420252026
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 13.3x which is lower than its 3-year average PE of 22.2x.
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 Market-0.50%
Consumer Staples1.45%
Industrials0.097%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Financials-2.77%
Materials-8.53%
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$1.2953.3%
+US$46.2m		n/an/aFinancials
PROL ProplasticsUS$1.3214.8%
+US$44.1m		35.7%PE29.9xIndustrials
See more

Market Insights

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PROL
US$1.32
Proplastics
7D
14.8%
1Y
35.7%
ZSEH
US$1.29
Zimbabwe Stock Exchange Holdings
7D
53.3%
1Y
n/a
NPKZ
US$0.78
Nampak Zimbabwe
7D
-10.3%
1Y
52.6%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
-8.8%
1Y
-30.5%
DLTA
US$29.50
Delta
7D
-0.01%
1Y
107.8%