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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedFeb 17, 2026
DataAggregated Company Financials
Companies36
  • 7D0.5%
  • 3M66.8%
  • 1Y107.2%
  • YTD26.8%

The market has been flat over the last week. Meanwhile, the market is actually up 107% over the past year. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Feb 2026Z$105.1bZ$74.5bZ$7.8b16.9x13.4x1.4x
Fri, 16 Jan 2026Z$104.9bZ$74.5bZ$7.8b15.8x13.4x1.4x
Sun, 14 Dec 2025Z$74.7bZ$71.4bZ$7.6b296.6x9.8x1x
Tue, 11 Nov 2025Z$65.2bZ$64.0bZ$6.1b327.3x10.8x1x
Thu, 09 Oct 2025Z$58.8bZ$73.1bZ$8.5b386.7x6.9x0.8x
Sat, 06 Sep 2025Z$63.8bZ$77.0bZ$8.1b1120.3x7.9x0.8x
Mon, 04 Aug 2025Z$157.0bZ$74.7bZ$8.5b1199.3x18.6x2.1x
Wed, 02 Jul 2025Z$18.9bZ$4.5bZ$3.5b1097.7x5.4x4.2x
Fri, 30 May 2025Z$19.5bZ$1.3bZ$1.6b1229.3x12.3x14.7x
Sun, 27 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Tue, 25 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 20 Feb 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 18 Jan 2025Z$19.4bZ$810.1bZ$91.4b0.2x0.2x0.02x
Mon, 16 Dec 2024Z$20.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 13 Nov 2024Z$28.0bZ$998.5bZ$87.3b0.3x0.3x0.03x
Fri, 11 Oct 2024Z$26.9bZ$986.0bZ$80.0b0.4x0.3x0.03x
Sun, 08 Sep 2024Z$21.9bZ$986.7bZ$80.2b0.6x0.3x0.02x
Tue, 06 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Thu, 04 Jul 2024Z$14.1bZ$1.0tZ$80.2b0.4x0.2x0.01x
Sat, 01 Jun 2024Z$11.2bZ$1.0tZ$80.2b0.3x0.1x0.01x
Mon, 29 Apr 2024Z$24.7tZ$2.3tZ$382.6b64.9x64.6x10.7x
Wed, 27 Mar 2024Z$20.9tZ$1.9tZ$383.0b55x54.4x11.1x
Fri, 23 Feb 2024Z$11.3tZ$1.9tZ$383.0b27.2x29.5x6x
Sun, 21 Jan 2024Z$9.8tZ$1.5tZ$348.2b30.9x28.3x6.4x
Tue, 19 Dec 2023Z$5.0tZ$1.5tZ$348.2b30.9x14.4x3.3x
Thu, 16 Nov 2023Z$966.9bZ$413.7bZ$13.1b41.8x73.6x2.3x
Sat, 14 Oct 2023Z$1.0tZ$305.6bZ$13.4b43.8x77.5x3.4x
Mon, 11 Sep 2023Z$910.0bZ$305.0bZ$13.0b29.8x70.1x3x
Wed, 09 Aug 2023Z$835.4bZ$305.0bZ$13.0b25.3x64.4x2.7x
Fri, 07 Jul 2023Z$957.5bZ$305.0bZ$13.0b22.8x73.8x3.1x
Sun, 04 Jun 2023Z$769.2bZ$235.7bZ$17.9b30.9x43.1x3.3x
Tue, 02 May 2023Z$479.5bZ$235.2bZ$17.9b41.9x26.7x2x
Thu, 30 Mar 2023Z$472.9bZ$226.8bZ$17.6b30.9x26.8x2.1x
Sat, 25 Feb 2023Z$453.8bZ$226.8bZ$17.6b30.9x25.7x2x
Price to Earnings Ratio

25.7x


Total Market Cap: Z$453.8bTotal Earnings: Z$17.6bTotal Revenue: Z$226.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 22.3x202420252026
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 13.4x which is lower than its 3-year average PE of 22.3x.
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 Market0.47%
Industrials2.78%
Financials1.46%
Consumer Staples0.95%
Real Estate0%0
Consumer Discretionary0%0
Telecom0%0
Materials-0.46%
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
DLTA DeltaUS$30.210.7%
+US$287.6m		132.4%PE2074.7xConsumer Staples
ZSEH Zimbabwe Stock Exchange HoldingsUS$0.9932.3%
+US$24.9m		n/an/aFinancials
PROL ProplasticsUS$1.353.8%
+US$13.0m		58.8%PE30.6xIndustrials
TNCI TN CyberTech Investments HoldingsUS$0.122.6%
+US$12.4m		-41.6%PE0.4xFinancials
See more

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PROL
US$1.35
Proplastics
7D
3.8%
1Y
58.8%
ZSEH
US$0.99
Zimbabwe Stock Exchange Holdings
7D
32.3%
1Y
n/a
TNCI
US$0.12
TN CyberTech Investments Holdings
7D
2.6%
1Y
-41.6%
DLTA
US$30.21
Delta
7D
0.7%
1Y
132.4%