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Zimbabwean (ZSE) Market Analysis & Valuation

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies36
  • 7D1.8%
  • 3M8.3%
  • 1Y88.2%
  • YTD27.5%

The market has climbed by 1.8% over the past week, with every sector up and the Consumer Staples sector leading the way. The market is up 86% over the last 12 months. Earnings are forecast to grow by 8.6% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 04 May 2026Z$107.5bZ$64.3bZ$7.9b1840.5x13.7x1.7x
Wed, 01 Apr 2026Z$104.0bZ$74.7bZ$7.5b18.4x13.9x1.4x
Fri, 27 Feb 2026Z$103.8bZ$74.5bZ$7.8b16.4x13.3x1.4x
Sun, 25 Jan 2026Z$105.3bZ$74.5bZ$7.8b17.1x13.5x1.4x
Tue, 23 Dec 2025Z$74.6bZ$71.4bZ$7.6b310.8x9.8x1x
Thu, 20 Nov 2025Z$51.5bZ$70.8bZ$7.7b458.8x6.7x0.7x
Sat, 18 Oct 2025Z$60.4bZ$66.7bZ$8.2b382x7.3x0.9x
Mon, 15 Sep 2025Z$63.9bZ$77.4bZ$8.9b1123.7x7.1x0.8x
Wed, 13 Aug 2025Z$153.5bZ$75.7bZ$8.3b1200.1x18.6x2x
Fri, 11 Jul 2025Z$18.9bZ$4.5bZ$3.5b1173.1x5.4x4.2x
Sun, 08 Jun 2025Z$19.3bZ$4.5bZ$3.5b1146.9x5.5x4.3x
Tue, 06 May 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Thu, 03 Apr 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Sat, 01 Mar 2025Z$17.7bZ$269.0bZ$41.4b0.3x0.4x0.07x
Mon, 27 Jan 2025Z$19.0bZ$810.1bZ$91.4b0.2x0.2x0.02x
Wed, 25 Dec 2024Z$20.1bZ$810.1bZ$91.4b0.2x0.2x0.02x
Fri, 22 Nov 2024Z$29.1bZ$993.6bZ$87.3b0.3x0.3x0.03x
Sun, 20 Oct 2024Z$28.6bZ$986.0bZ$80.0b0.4x0.4x0.03x
Tue, 17 Sep 2024Z$29.7bZ$986.7bZ$80.2b0.8x0.4x0.03x
Thu, 15 Aug 2024Z$21.1bZ$986.7bZ$80.2b0.6x0.3x0.02x
Sat, 13 Jul 2024Z$18.6bZ$1.0tZ$80.2b0.5x0.2x0.02x
Mon, 10 Jun 2024Z$11.6bZ$1.0tZ$80.2b0.3x0.1x0.01x
Wed, 08 May 2024Z$10.3bZ$2.3tZ$382.6b0.03x0.03x0.004x
Fri, 05 Apr 2024Z$24.7tZ$1.9tZ$382.6b64.9x64.4x13.1x
Sun, 03 Mar 2024Z$13.2tZ$1.9tZ$383.0b31.9x34.3x7x
Tue, 30 Jan 2024Z$13.5tZ$1.5tZ$348.2b33.8x38.7x8.8x
Thu, 28 Dec 2023Z$5.1tZ$1.5tZ$348.2b30.9x14.8x3.4x
Sat, 25 Nov 2023Z$979.0bZ$413.7bZ$13.1b39x74.5x2.4x
Mon, 23 Oct 2023Z$1.0tZ$305.6bZ$13.4b42.7x75.8x3.3x
Wed, 20 Sep 2023Z$916.6bZ$305.0bZ$13.0b31.2x70.6x3x
Fri, 18 Aug 2023Z$857.8bZ$305.0bZ$13.0b26.5x66.1x2.8x
Sun, 16 Jul 2023Z$877.4bZ$305.0bZ$13.0b24.6x67.6x2.9x
Tue, 13 Jun 2023Z$930.7bZ$288.8bZ$10.8b24.1x86.2x3.2x
Thu, 11 May 2023Z$581.9bZ$235.2bZ$17.9b56.7x32.5x2.5x
Price to Earnings Ratio

32.5x


Total Market Cap: Z$581.9bTotal Earnings: Z$17.9bTotal Revenue: Z$235.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Zimbabwean Market Price to Earnings3Y Average 21.5x202420252026
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 13.7x which is lower than its 3-year average PE of 21.5x.
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 35% 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 Market1.79%
Materials5.08%
Financials2.62%
Consumer Staples2.21%
Industrials1.63%
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 271x.
    • 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 8.6% over the next 5 years.
  • This is better than its past earnings decline of 17% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 8.6% 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$26.800.6%
+US$204.7m		103.5%PE1840.5xConsumer Staples
TNCI TN CyberTech Investments HoldingsUS$0.100.7%
+US$2.8m		-22.6%PE2.8xFinancials
PROL ProplasticsUS$1.480.06%
+US$247.2k		80.8%PE2145.1xIndustrials
NPKZ Nampak ZimbabweUS$0.850.01%
+US$65.7k		-26.1%PE3.1xMaterials
See more

Market Insights

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PROL
US$1.48
Proplastics
7D
0.06%
1Y
80.8%
ZSEH
US$1.02
Zimbabwe Stock Exchange Holdings
7D
-3.9%
1Y
n/a
NPKZ
US$0.85
Nampak Zimbabwe
7D
0.01%
1Y
-26.1%
TNCI
US$0.10
TN CyberTech Investments Holdings
7D
0.7%
1Y
-22.6%
DLTA
US$26.80
Delta
7D
0.6%
1Y
103.5%