Ghanaian (GSE) Market Analysis & Valuation

Market Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 08 May 2024	GH₵37.9b	GH₵59.7b	GH₵8.7b	3.4x	4.4x	0.6x
Fri, 05 Apr 2024	GH₵35.9b	GH₵58.6b	GH₵7.9b	3.1x	4.5x	0.6x
Sun, 03 Mar 2024	GH₵32.5b	GH₵51.5b	GH₵3.7b	6.3x	8.9x	0.6x
Tue, 30 Jan 2024	GH₵31.6b	GH₵52.6b	GH₵3.2b	5.2x	10x	0.6x
Thu, 28 Dec 2023	GH₵31.2b	GH₵52.6b	GH₵3.2b	5.2x	9.8x	0.6x
Sat, 25 Nov 2023	GH₵31.9b	GH₵52.6b	GH₵3.2b	5x	10.1x	0.6x
Mon, 23 Oct 2023	GH₵31.1b	GH₵50.6b	GH₵2.2b	5.5x	14.2x	0.6x
Wed, 20 Sep 2023	GH₵31.4b	GH₵49.7b	GH₵2.3b	5.5x	13.5x	0.6x
Fri, 18 Aug 2023	GH₵30.2b	GH₵49.7b	GH₵2.3b	4.4x	13x	0.6x
Sun, 16 Jul 2023	GH₵28.2b	GH₵48.6b	GH₵2.1b	5x	13.6x	0.6x
Tue, 13 Jun 2023	GH₵25.9b	GH₵48.9b	GH₵2.0b	5.1x	12.7x	0.5x
Thu, 11 May 2023	GH₵26.7b	GH₵48.7b	GH₵5.0b	5x	5.3x	0.5x
Sat, 08 Apr 2023	GH₵27.5b	GH₵48.5b	GH₵6.0b	5.2x	4.6x	0.6x
Mon, 06 Mar 2023	GH₵23.6b	GH₵48.5b	GH₵6.0b	4.9x	4x	0.5x
Wed, 01 Feb 2023	GH₵23.3b	GH₵43.3b	GH₵5.8b	4.6x	4x	0.5x
Fri, 30 Dec 2022	GH₵24.2b	GH₵43.2b	GH₵5.8b	4.8x	4.2x	0.6x
Sun, 27 Nov 2022	GH₵24.4b	GH₵42.8b	GH₵5.6b	4.4x	4.3x	0.6x
Tue, 25 Oct 2022	GH₵23.4b	GH₵38.9b	GH₵5.7b	4.4x	4.1x	0.6x
Thu, 22 Sep 2022	GH₵24.9b	GH₵38.9b	GH₵5.6b	4.6x	4.4x	0.6x
Sat, 20 Aug 2022	GH₵25.4b	GH₵38.4b	GH₵5.4b	4.8x	4.7x	0.7x
Mon, 18 Jul 2022	GH₵24.3b	GH₵33.6b	GH₵5.2b	4.6x	4.7x	0.7x
Wed, 15 Jun 2022	GH₵25.2b	GH₵33.5b	GH₵5.3b	4.9x	4.7x	0.8x
Fri, 13 May 2022	GH₵26.5b	GH₵31.8b	GH₵5.2b	5x	5x	0.8x
Sun, 10 Apr 2022	GH₵26.5b	GH₵30.5b	GH₵5.0b	6x	5.3x	0.9x
Tue, 08 Mar 2022	GH₵27.4b	GH₵30.3b	GH₵5.0b	5.9x	5.5x	0.9x
Thu, 03 Feb 2022	GH₵26.0b	GH₵27.6b	GH₵4.6b	5.8x	5.7x	0.9x
Sat, 01 Jan 2022	GH₵26.2b	GH₵27.2b	GH₵4.6b	5.5x	5.8x	1x
Mon, 29 Nov 2021	GH₵27.4b	GH₵27.2b	GH₵4.6b	5.5x	6x	1x
Wed, 27 Oct 2021	GH₵27.3b	GH₵25.5b	GH₵4.4b	5.5x	6.2x	1.1x
Fri, 24 Sep 2021	GH₵26.9b	GH₵25.1b	GH₵4.3b	4.4x	6.2x	1.1x
Sun, 22 Aug 2021	GH₵28.2b	GH₵25.7b	GH₵4.4b	4.8x	6.4x	1.1x
Fri, 09 Jul 2021	GH₵26.6b	GH₵25.7b	GH₵4.4b	4.7x	6x	1x

Current Market PE

Investors are pessimistic on the Ghanaian market, indicating that they anticipate earnings will not grow as fast as they have historically.

The market is trading at a PE ratio of 4.4x which is lower than its 3-year average PE of 6.9x.

Past Earnings Growth

The earnings for Ghanaian listed companies have grown 27% per year over the last three years.
Revenues for these companies have grown 36% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Ghanaian Market?


GH Market	-1.05%
Energy	0%
Real Estate	0%
Materials	0%
Industrials	0%
Consumer Discretionary	0%
Healthcare	0%
Tech	0%
Utilities	0%
Financials	-0.019%
Consumer Staples	-0.054%
Telecom	-1.71%

Sector PE

Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 3.2x.

It looks like investors are confident that earnings will grow faster in the future than they have historically.

The Healthcare sector is the least preferred by investors for future growth, which is trading below its 3-year average of 4.2x.

Forecasted Growth

Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 10% over the next 5 years.
However this is lower than its past earnings growth rate of 50% per year.