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Bahraini (BAX) Market Analysis & Valuation

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies29
  • 7D-0.5%
  • 3M5.1%
  • 1Y-3.7%
  • YTD0.9%

In the last week, the market has been flat. The past year hasn't been profitable, with the market dropping 3.7%. Earnings are forecast to grow by 6.6% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Nov 2025ب.د7.8bب.د5.3bب.د822.9m10.1x9.5x1.5x
Thu, 16 Oct 2025ب.د7.1bب.د5.2bب.د834.9m9.7x8.5x1.4x
Sat, 13 Sep 2025ب.د7.1bب.د5.4bب.د837.7m9.5x8.5x1.3x
Mon, 11 Aug 2025ب.د7.2bب.د5.4bب.د795.9m10.1x9.1x1.3x
Wed, 09 Jul 2025ب.د7.3bب.د5.3bب.د837.9m9.6x8.7x1.4x
Fri, 06 Jun 2025ب.د7.3bب.د5.3bب.د837.6m10.1x8.7x1.4x
Sun, 04 May 2025ب.د7.2bب.د5.2bب.د839.6m9.8x8.6x1.4x
Tue, 01 Apr 2025ب.د7.3bب.د5.1bب.د839.6m9.8x8.7x1.4x
Thu, 27 Feb 2025ب.د7.3bب.د5.1bب.د828.2m9.5x8.9x1.4x
Sat, 25 Jan 2025ب.د7.0bب.د4.7bب.د779.4m9.7x9x1.5x
Mon, 23 Dec 2024ب.د7.4bب.د4.7bب.د779.4m10.1x9.5x1.6x
Wed, 20 Nov 2024ب.د7.6bب.د4.8bب.د760.0m10.1x10x1.6x
Fri, 18 Oct 2024ب.د7.4bب.د4.9bب.د722.8m11.1x10.3x1.5x
Sun, 15 Sep 2024ب.د7.1bب.د4.8bب.د716.4m11.1x10x1.5x
Tue, 13 Aug 2024ب.د7.2bب.د4.8bب.د683.4m10.9x10.6x1.5x
Thu, 11 Jul 2024ب.د7.3bب.د4.7bب.د643.8m11.7x11.3x1.5x
Sat, 08 Jun 2024ب.د8.1bب.د4.7bب.د649.0m11.7x12.5x1.7x
Mon, 06 May 2024ب.د8.1bب.د4.7bب.د642.8m11.8x12.6x1.7x
Wed, 03 Apr 2024ب.د8.0bب.د4.7bب.د644.8m11.4x12.5x1.7x
Fri, 01 Mar 2024ب.د7.5bب.د4.7bب.د674.2m11.6x11.1x1.6x
Sun, 28 Jan 2024ب.د7.9bب.د5.6bب.د762.0m11.4x10.3x1.4x
Tue, 26 Dec 2023ب.د7.6bب.د5.4bب.د681.6m11.4x11.1x1.4x
Thu, 23 Nov 2023ب.د7.6bب.د5.4bب.د681.6m11.5x11.2x1.4x
Sat, 21 Oct 2023ب.د7.5bب.د5.4bب.د718.3m11.4x10.5x1.4x
Mon, 18 Sep 2023ب.د7.4bب.د5.4bب.د718.3m11.6x10.3x1.4x
Wed, 16 Aug 2023ب.د7.5bب.د5.7bب.د948.9m11.4x7.9x1.3x
Fri, 14 Jul 2023ب.د7.3bب.د5.2bب.د884.4m12.1x8.3x1.4x
Sun, 11 Jun 2023ب.د7.3bب.د5.2bب.د884.7m11.8x8.3x1.4x
Tue, 09 May 2023ب.د7.2bب.د5.6bب.د910.9m11.3x7.9x1.3x
Thu, 06 Apr 2023ب.د7.0bب.د5.6bب.د1.0b10.7x6.9x1.2x
Sat, 04 Mar 2023ب.د7.6bب.د5.6bب.د1.0b11x7.5x1.3x
Mon, 30 Jan 2023ب.د7.4bب.د5.7bب.د1.2b10.9x6x1.3x
Wed, 28 Dec 2022ب.د7.1bب.د5.7bب.د1.2b11.1x5.8x1.2x
Fri, 25 Nov 2022ب.د7.0bب.د5.7bب.د1.2b10.9x5.7x1.2x
Price to Earnings Ratio

5.7x


Total Market Cap: ب.د7.0bTotal Earnings: ب.د1.2bTotal Revenue: ب.د5.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Bahraini Market Price to Earnings3Y Average 9.4x202320242025
Current Market PE
  • Investors are relatively neutral on the Bahraini market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 9.4x.
Past Earnings Growth
  • The earnings for companies in the Bahraini industry have declined 12% per year over the last three years.
  • Revenues have also declined 2.1% 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 Bahraini Market?

BH Market-0.54%
Consumer Discretionary2.10%
Telecom0.27%
Consumer Staples0%0
Financials-0.0056%
Industrials-0.98%
Real Estate-1.68%
Materials-2.65%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 12.2x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 12.0x.
Forecasted Growth
  • Analysts are most optimistic on the Financials sector, expecting annual earnings growth of 11% over the next 5 years.
  • This is better than its past earnings growth rate of 8.1% per year.
  • In contrast, the Materials sector is expected to see its earnings grow by 2.6% 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
ITHMR Ithmaar Holding B.S.CUS$0.03644.0%
+US$32.0m		n/aPB7xFinancials
NBB National Bank of Bahrain B.S.Cب.د0.510.2%
+ب.د2.3m		2.0%PB2xFinancials
BNH Bahrain National Holding Company B.S.Cب.د0.512.0%
+ب.د1.2m		1.0%PE2.1xFinancials
ZAINBH Zain Bahrain B.S.Cب.د0.121.7%
+ب.د727.8k		10.0%PE7.3xTelecom
DUTYF Bahrain Duty Free Shop Complex BSCب.د0.421.2%
+ب.د711.4k		n/aPE11.9xConsumer Discretionary
See more

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BNH
ب.د0.51
Bahrain National Holding Company B.S.C
7D
2.0%
1Y
1.0%
SALAM
ب.د0.22
Al Salam Bank B.S.C
7D
-1.8%
1Y
17.4%
ABC
US$0.34
Arab Banking Corporation (B.S.C.)
7D
-0.9%
1Y
3.0%
NBB
ب.د0.51
National Bank of Bahrain B.S.C
7D
0.2%
1Y
2.0%
SEEF
ب.د0.12
Seef Properties B.S.C
7D
-3.4%
1Y
4.5%
ALBH
ب.د1.10
Aluminium Bahrain B.S.C
7D
-3.1%
1Y
-21.8%
BISB
ب.د0.082
Bahrain Islamic Bank B.S.C
7D
-1.2%
1Y
41.4%
ZAINBH
ب.د0.12
Zain Bahrain B.S.C
7D
1.7%
1Y
10.0%
UGH
ب.د0.89
United Gulf Holding Company B.S.C
7D
-1.3%
1Y
n/a
DUTYF
ب.د0.42
Bahrain Duty Free Shop Complex BSC
7D
1.2%
1Y
n/a
ITHMR
US$0.036
Ithmaar Holding B.S.C
7D
44.0%
1Y
n/a
APMTB
ب.د1.09
APM Terminals Bahrain B.S.C
7D
-1.4%
1Y
-7.3%