Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedJan 26, 2026

DataAggregated Company Financials

Companies36

7D-0.2%
3M74.9%
1Y90.7%
YTD27.1%

The Materials sector gained 3.7% while the market remained flat over the last week. As for the longer term, the market has risen 91% in the past 12 months. As for the next few years, earnings are expected to grow by 5.0% per annum.

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 26 Jan 2026	Z$105.3b	Z$74.5b	Z$7.8b	17.1x	13.5x	1.4x
Wed, 24 Dec 2025	Z$75.6b	Z$71.4b	Z$7.6b	312.1x	9.9x	1.1x
Fri, 21 Nov 2025	Z$51.8b	Z$70.8b	Z$7.7b	506.8x	6.7x	0.7x
Sun, 19 Oct 2025	Z$60.4b	Z$66.7b	Z$8.2b	382x	7.3x	0.9x
Tue, 16 Sep 2025	Z$63.6b	Z$77.3b	Z$8.9b	1123.8x	7.1x	0.8x
Thu, 14 Aug 2025	Z$153.5b	Z$75.7b	Z$8.3b	1200x	18.6x	2x
Sat, 12 Jul 2025	Z$18.9b	Z$4.5b	Z$3.5b	1173.1x	5.4x	4.2x
Mon, 09 Jun 2025	Z$19.3b	Z$4.5b	Z$3.5b	1146.9x	5.5x	4.3x
Wed, 07 May 2025	Z$17.7b	Z$269.0b	Z$41.4b	0.3x	0.4x	0.07x
Fri, 04 Apr 2025	Z$17.7b	Z$269.0b	Z$41.4b	0.3x	0.4x	0.07x
Sun, 02 Mar 2025	Z$17.7b	Z$269.0b	Z$41.4b	0.3x	0.4x	0.07x
Tue, 28 Jan 2025	Z$19.0b	Z$810.1b	Z$91.4b	0.2x	0.2x	0.02x
Thu, 26 Dec 2024	Z$20.1b	Z$810.1b	Z$91.4b	0.2x	0.2x	0.02x
Sat, 23 Nov 2024	Z$29.0b	Z$993.6b	Z$87.3b	0.3x	0.3x	0.03x
Mon, 21 Oct 2024	Z$28.6b	Z$986.0b	Z$80.0b	0.4x	0.4x	0.03x
Wed, 18 Sep 2024	Z$29.3b	Z$986.7b	Z$80.2b	0.8x	0.4x	0.03x
Fri, 16 Aug 2024	Z$21.1b	Z$986.7b	Z$80.2b	0.6x	0.3x	0.02x
Sun, 14 Jul 2024	Z$18.6b	Z$1.0t	Z$80.2b	0.5x	0.2x	0.02x
Tue, 11 Jun 2024	Z$11.6b	Z$1.0t	Z$80.2b	0.3x	0.1x	0.01x
Thu, 09 May 2024	Z$10.3b	Z$2.3t	Z$382.6b	0.03x	0.03x	0.004x
Sat, 06 Apr 2024	Z$24.7t	Z$1.9t	Z$382.6b	64.9x	64.6x	13.1x
Mon, 04 Mar 2024	Z$13.2t	Z$1.9t	Z$383.0b	31.9x	34.3x	7x
Wed, 31 Jan 2024	Z$14.7t	Z$1.5t	Z$348.2b	37.4x	42.2x	9.6x
Fri, 29 Dec 2023	Z$5.3t	Z$1.5t	Z$348.2b	30.9x	15.1x	3.4x
Sun, 26 Nov 2023	Z$979.0b	Z$413.7b	Z$13.1b	39x	74.5x	2.4x
Tue, 24 Oct 2023	Z$1.0t	Z$305.6b	Z$13.4b	42.5x	76.2x	3.3x
Thu, 21 Sep 2023	Z$909.8b	Z$305.0b	Z$13.0b	31.2x	70.1x	3x
Sat, 19 Aug 2023	Z$857.8b	Z$305.0b	Z$13.0b	26.5x	66.1x	2.8x
Mon, 17 Jul 2023	Z$877.4b	Z$305.0b	Z$13.0b	24.6x	67.6x	2.9x
Wed, 14 Jun 2023	Z$924.0b	Z$288.8b	Z$10.8b	24.1x	85.6x	3.2x
Fri, 12 May 2023	Z$592.1b	Z$235.2b	Z$17.9b	58x	33x	2.5x
Sun, 09 Apr 2023	Z$462.9b	Z$226.8b	Z$17.6b	30.9x	26.3x	2x
Tue, 07 Mar 2023	Z$457.1b	Z$226.8b	Z$17.6b	30.9x	25.9x	2x
Thu, 02 Feb 2023	Z$381.5b	Z$226.8b	Z$17.6b	25.1x	21.6x	1.7x

Price to Earnings Ratio

21.6x

Thu, 02 Feb 2023

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 22.6x.

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 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	-0.17%
Materials	3.70%
Industrials	2.76%
Consumer Staples	0.98%
Real Estate	0%	0
Consumer Discretionary	0%	0
Telecom	0%	0
Financials	-0.69%

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.