We Think Gosa Fom a.d's (BELEX:GFOM) Healthy Earnings Might Be Conservative
May 06
Serbian (BELEX) Market Analysis & Valuation
UpdatedMay 08, 2024
DataAggregated Company Financials
Companies46
- 7D0.1%
- 3M9.1%
- 1Y7.6%
- YTD4.0%
In the last week, the market has been flat, with a notable exception in the Materials sector dropping 3.2%. As for the longer term, the market has risen 7.6% in the past 12 months. As for the next few years, earnings are expected to grow by 5.3% per annum.
Market Valuation and Performance
Has the Serbian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 08 May 2024 | дин766.8b | дин541.3b | дин43.1b | 7.9x | 17.8x | 1.4x |
| Fri, 05 Apr 2024 | дин805.0b | дин575.7b | дин59.2b | 8x | 13.6x | 1.4x |
| Sun, 03 Mar 2024 | дин319.1b | дин570.6b | дин59.0b | 8.9x | 5.4x | 0.6x |
| Tue, 30 Jan 2024 | дин420.7b | дин635.2b | дин75.5b | 9.8x | 5.6x | 0.7x |
| Thu, 28 Dec 2023 | дин419.2b | дин635.2b | дин75.5b | 10.2x | 5.6x | 0.7x |
| Sat, 25 Nov 2023 | дин418.7b | дин635.2b | дин75.5b | 9.8x | 5.5x | 0.7x |
| Mon, 23 Oct 2023 | дин413.8b | дин630.8b | дин82.9b | 8.5x | 5x | 0.7x |
| Wed, 20 Sep 2023 | дин415.0b | дин625.2b | дин81.7b | 10.1x | 5.1x | 0.7x |
| Fri, 18 Aug 2023 | дин397.7b | дин626.5b | дин82.0b | 9.8x | 4.8x | 0.6x |
| Sun, 16 Jul 2023 | дин407.7b | дин674.5b | дин109.3b | 8.7x | 3.7x | 0.6x |
| Tue, 13 Jun 2023 | дин427.9b | дин678.4b | дин109.2b | 13.8x | 3.9x | 0.6x |
| Thu, 11 May 2023 | дин426.5b | дин647.6b | дин103.9b | 9.3x | 4.1x | 0.7x |
| Sat, 08 Apr 2023 | дин410.2b | дин628.8b | дин103.2b | 8.6x | 4x | 0.7x |
| Mon, 06 Mar 2023 | дин412.8b | дин628.8b | дин103.2b | 9.6x | 4x | 0.7x |
| Wed, 01 Feb 2023 | дин396.9b | дин628.5b | дин87.9b | 8.7x | 4.5x | 0.6x |
| Fri, 30 Dec 2022 | дин384.6b | дин650.8b | дин92.6b | 8.1x | 4.2x | 0.6x |
| Sun, 27 Nov 2022 | дин331.8b | дин580.5b | дин72.3b | 7.6x | 4.6x | 0.6x |
| Tue, 25 Oct 2022 | дин320.4b | дин584.8b | дин72.1b | 8.5x | 4.4x | 0.5x |
| Thu, 22 Sep 2022 | дин330.1b | дин583.2b | дин73.0b | 7.6x | 4.5x | 0.6x |
| Sat, 20 Aug 2022 | дин327.5b | дин582.4b | дин72.9b | 7.7x | 4.5x | 0.6x |
| Mon, 18 Jul 2022 | дин324.6b | дин511.1b | дин50.2b | 6.2x | 6.5x | 0.6x |
| Wed, 15 Jun 2022 | дин315.7b | дин516.9b | дин50.0b | 8.6x | 6.3x | 0.6x |
| Fri, 13 May 2022 | дин287.1b | дин454.9b | дин33.4b | 10.2x | 8.6x | 0.6x |
| Sun, 10 Apr 2022 | дин310.4b | дин459.9b | дин34.5b | 12.5x | 9x | 0.7x |
| Tue, 08 Mar 2022 | дин292.7b | дин449.6b | дин34.6b | 9.4x | 8.4x | 0.7x |
| Thu, 03 Feb 2022 | дин310.5b | дин401.0b | дин24.9b | 10.2x | 12.5x | 0.8x |
| Sat, 01 Jan 2022 | дин290.5b | дин401.0b | дин24.9b | 8.5x | 11.6x | 0.7x |
| Mon, 29 Nov 2021 | дин278.9b | дин401.0b | дин24.9b | 8.4x | 11.2x | 0.7x |
| Wed, 27 Oct 2021 | дин292.8b | дин367.0b | дин19.4b | 11.2x | 15.1x | 0.8x |
| Fri, 24 Sep 2021 | дин280.4b | дин361.6b | дин19.3b | 13.1x | 14.5x | 0.8x |
| Sun, 22 Aug 2021 | дин841.8b | дин420.1b | дин25.3b | 11.4x | 33.2x | 2x |
| Fri, 09 Jul 2021 | дин837.6b | дин420.1b | дин25.3b | 11.4x | 33x | 2x |
Price to Earnings Ratio
70.2x
Current Market PE
- Investors are optimistic on the Serbian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 17.8x which is higher than its 3-year average PE of 10.4x.
Past Earnings Growth
- The earnings for Serbian listed companies have grown 54% per year over the last three years.
- Revenues for these companies have grown 13% 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 Serbian Market?
| RS Market | 0.12% | |
| Energy | 1.28% | |
| Industrials | 0.17% | |
| Real Estate | 0% | |
| Consumer Discretionary | 0% | |
| Consumer Staples | 0% | |
| Healthcare | 0% | |
| Financials | 0% | |
| Tech | 0% | |
| Telecom | 0% | |
| Utilities | 0% | |
| Materials | -3.15% | |
Sector PE
- Investors favour the Consumer Staples sector the most for future growth which is trading above its 3-year average PE ratio.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
- The Energy sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 3.2x.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 5.3% over the next 5 years.
- This is better than its past earnings decline of 61% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 5.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| NIIS Naftna Industrija Srbije a.d | дин872.86 | 1.3% +дин1.8b | 5.3% | PE4.1x | Energy | |
| GFOM Gosa Fom a.d | дин1.45k | 8.6% +дин157.4m | n/a | PE9.6x | Industrials | |
| TRBG Termika-Beograd a.d | дин3.32k | 0.1% +дин243.7k | n/a | n/a | Industrials |