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Malawian (MSE) Market Analysis & Valuation

UpdatedNov 15, 2025
DataAggregated Company Financials
Companies14
  • 7D6.0%
  • 3M47.6%
  • 1Y260.6%
  • YTD220.1%

The market has climbed 6.0% in the last 7 days, lead by the Financials sector with a gain of 7.5%. Meanwhile, the Communication Services sector has underperformed, shrinking 3.4% in that time. As for the past 12 months, the market is up 261%.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Nov 2025MK 29.9tMK 3.9tMK 905.6b27.2x33x7.8x
Thu, 16 Oct 2025MK 26.5tMK 3.9tMK 905.6b28.2x29.2x6.9x
Sat, 13 Sep 2025MK 23.5tMK 3.7tMK 874.8b22.2x26.9x6.3x
Mon, 11 Aug 2025MK 19.4tMK 3.3tMK 708.9b28.5x27.3x5.9x
Wed, 09 Jul 2025MK 18.0tMK 3.3tMK 708.9b27.9x25.4x5.5x
Fri, 06 Jun 2025MK 15.0tMK 3.0tMK 635.6b19.9x23.6x4.9x
Sun, 04 May 2025MK 15.5tMK 2.8tMK 541.5b21.6x28.7x5.5x
Tue, 01 Apr 2025MK 15.7tMK 2.7tMK 490.4b21x32x5.8x
Thu, 27 Feb 2025MK 14.7tMK 2.7tMK 472.0b22.2x31.1x5.5x
Sat, 25 Jan 2025MK 11.0tMK 2.7tMK 472.0b17.8x23.4x4.1x
Mon, 23 Dec 2024MK 9.1tMK 2.7tMK 472.0b12.7x19.3x3.4x
Wed, 20 Nov 2024MK 8.3tMK 2.7tMK 494.8b9.9x16.8x3.1x
Fri, 18 Oct 2024MK 7.7tMK 2.7tMK 494.8b9.8x15.6x2.9x
Sun, 15 Sep 2024MK 7.7tMK 2.4tMK 447.1b13x17.1x3.1x
Tue, 13 Aug 2024MK 7.2tMK 2.3tMK 423.5b13x17.1x3.1x
Thu, 11 Jul 2024MK 6.6tMK 2.3tMK 423.5b10.7x15.6x2.8x
Sat, 08 Jun 2024MK 6.3tMK 2.3tMK 397.8b14.4x15.8x2.7x
Mon, 06 May 2024MK 6.1tMK 2.3tMK 409.2b13.8x14.9x2.6x
Wed, 03 Apr 2024MK 6.1tMK 2.2tMK 433.6b12.3x14.1x2.8x
Fri, 01 Mar 2024MK 6.1tMK 2.0tMK 418.8b12.3x14.5x3x
Sun, 28 Jan 2024MK 6.2tMK 2.0tMK 418.8b12.9x14.8x3.1x
Tue, 26 Dec 2023MK 5.8tMK 1.9tMK 381.2b16.2x15.1x3.1x
Thu, 23 Nov 2023MK 6.0tMK 1.9tMK 381.2b16.2x15.9x3.2x
Sat, 21 Oct 2023MK 6.1tMK 1.8tMK 352.9b16.2x17.2x3.4x
Mon, 18 Sep 2023MK 6.4tMK 1.7tMK 332.0b17.5x19.4x3.8x
Wed, 16 Aug 2023MK 6.2tMK 1.6tMK 290.6b19.8x21.3x3.8x
Fri, 14 Jul 2023MK 5.9tMK 1.3tMK 253.1b18.1x23.1x4.5x
Sun, 11 Jun 2023MK 5.5tMK 1.6tMK 287.3b13.7x19.2x3.5x
Tue, 09 May 2023MK 4.9tMK 1.5tMK 277.0b14.5x17.7x3.3x
Thu, 06 Apr 2023MK 4.3tMK 1.3tMK 242.6b15.1x17.9x3.3x
Sat, 04 Mar 2023MK 3.8tMK 1.3tMK 223.6b15.9x17x2.9x
Mon, 30 Jan 2023MK 3.7tMK 1.3tMK 223.7b14.6x16.4x2.8x
Wed, 28 Dec 2022MK 3.3tMK 1.4tMK 220.0b12.9x15x2.4x
Fri, 25 Nov 2022MK 3.2tMK 1.2tMK 193.6b10.1x16.4x2.7x
Price to Earnings Ratio

16.4x


Total Market Cap: MK 3.2tTotal Earnings: MK 193.6bTotal Revenue: MK 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Malawian Market Price to Earnings3Y Average 20x202320242025
Current Market PE
  • Investors are optimistic on the Malawian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 33.0x which is higher than its 3-year average PE of 20.0x.
Past Earnings Growth
  • The earnings for Malawian listed companies have grown 67% per year over the last three years.
  • Revenues for these companies have grown 48% 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 Malawian Market?

MW Market6.01%
Financials7.48%
Consumer Discretionary6.35%
Industrials0%0
Consumer Staples-0.0021%
Real Estate-0.11%
Telecom-3.41%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 31.7x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.4x.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
FMBCH FMBcapital HoldingsMK 3.65k11.8%
+MK 949.7b		815.3%PB21xFinancials
NICO NICO HoldingsMK 1.74k0.003%
+MK 62.6m		769.0%PE16.4xFinancials
See more

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NBM
MK 12,399.67
National Bank of Malawi
7D
-0.002%
1Y
259.4%
ILLOVO
MK 2,329.99
Illovo Sugar (Malawi)
7D
-0.002%
1Y
71.9%
NICO
MK 1,739.82
NICO Holdings
7D
0.003%
1Y
769.0%
ICON
MK 17.93
ICON Properties
7D
-0.1%
1Y
13.6%
NBS
MK 1,016.51
NBS Bank
7D
-0.6%
1Y
568.8%
FDHB
MK 637.32
FDH Bank
7D
-0.03%
1Y
328.3%
TNM
MK 31.64
Telekom Networks Malawi
7D
-0.09%
1Y
19.9%
FMBCH
MK 3,648.62
FMBcapital Holdings
7D
11.8%
1Y
815.3%
AIRTEL
MK 124.49
Airtel Malawi
7D
-4.2%
1Y
57.6%
STANDARD
MK 4,499.73
Standard Bank
7D
-9.6%
1Y
-25.0%