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Tunisian (TUNINDEX) Market Analysis & Valuation
UpdatedNov 15, 2025
DataAggregated Company Financials
Companies67
- 7D1.6%
- 3M8.9%
- 1Y28.1%
- YTD26.1%
The market has climbed 1.6% in the last 7 days, lead by the Financials sector with a gain of 2.7%. In the last year, the market has climbed 28%. As for the next few years, earnings are expected to grow by 5.9% per annum.
Market Valuation and Performance
Has the Tunisian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 17 Nov 2025 | د.ت33.4b | د.ت23.9b | د.ت3.1b | 10.4x | 10.8x | 1.4x |
| Wed, 15 Oct 2025 | د.ت31.8b | د.ت23.9b | د.ت3.0b | 10.3x | 10.5x | 1.3x |
| Fri, 12 Sep 2025 | د.ت31.2b | د.ت23.9b | د.ت3.0b | 10.8x | 10.4x | 1.3x |
| Sun, 10 Aug 2025 | د.ت30.7b | د.ت21.6b | د.ت2.9b | 10.6x | 10.6x | 1.4x |
| Tue, 08 Jul 2025 | د.ت30.3b | د.ت21.6b | د.ت2.9b | 10.5x | 10.5x | 1.4x |
| Thu, 05 Jun 2025 | د.ت30.0b | د.ت23.4b | د.ت2.9b | 10.4x | 10.5x | 1.3x |
| Sat, 03 May 2025 | د.ت29.7b | د.ت40.0b | د.ت4.6b | 10.6x | 6.5x | 0.7x |
| Mon, 31 Mar 2025 | د.ت29.5b | د.ت39.0b | د.ت4.4b | 11x | 6.7x | 0.8x |
| Wed, 26 Feb 2025 | د.ت28.1b | د.ت38.9b | د.ت4.4b | 10.2x | 6.4x | 0.7x |
| Fri, 24 Jan 2025 | د.ت27.3b | د.ت38.8b | د.ت4.4b | 9.3x | 6.3x | 0.7x |
| Sun, 22 Dec 2024 | د.ت26.5b | د.ت39.3b | د.ت4.4b | 9.1x | 6x | 0.7x |
| Tue, 19 Nov 2024 | د.ت26.2b | د.ت39.3b | د.ت4.4b | 8.8x | 5.9x | 0.7x |
| Thu, 17 Oct 2024 | د.ت26.1b | د.ت39.0b | د.ت4.4b | 8.9x | 5.9x | 0.7x |
| Sat, 14 Sep 2024 | د.ت26.0b | د.ت20.3b | د.ت2.7b | 9.2x | 9.7x | 1.3x |
| Mon, 12 Aug 2024 | د.ت26.1b | د.ت20.3b | د.ت2.6b | 9.4x | 9.9x | 1.3x |
| Wed, 10 Jul 2024 | د.ت26.0b | د.ت20.3b | د.ت2.7b | 9.2x | 9.8x | 1.3x |
| Fri, 07 Jun 2024 | د.ت25.9b | د.ت22.5b | د.ت2.7b | 8.6x | 9.7x | 1.2x |
| Sun, 05 May 2024 | د.ت25.4b | د.ت22.0b | د.ت2.6b | 8.8x | 9.6x | 1.2x |
| Tue, 02 Apr 2024 | د.ت25.2b | د.ت21.2b | د.ت2.4b | 8.6x | 10.6x | 1.2x |
| Thu, 29 Feb 2024 | د.ت24.2b | د.ت21.1b | د.ت2.4b | 8.5x | 10.2x | 1.1x |
| Sat, 27 Jan 2024 | د.ت23.9b | د.ت20.8b | د.ت2.2b | 8.6x | 10.8x | 1.2x |
| Mon, 25 Dec 2023 | د.ت24.4b | د.ت21.0b | د.ت2.2b | 9.1x | 10.9x | 1.2x |
| Wed, 22 Nov 2023 | د.ت24.1b | د.ت21.5b | د.ت2.4b | 8.6x | 9.9x | 1.1x |
| Fri, 20 Oct 2023 | د.ت24.0b | د.ت21.4b | د.ت2.4b | 8.5x | 9.8x | 1.1x |
| Sun, 17 Sep 2023 | د.ت24.9b | د.ت19.5b | د.ت2.4b | 8.5x | 10.4x | 1.3x |
| Tue, 15 Aug 2023 | د.ت25.2b | د.ت18.9b | د.ت2.3b | 9.6x | 10.7x | 1.3x |
| Thu, 13 Jul 2023 | د.ت25.6b | د.ت19.0b | د.ت2.3b | 9.6x | 10.9x | 1.3x |
| Sat, 10 Jun 2023 | د.ت25.1b | د.ت20.7b | د.ت2.4b | 10.1x | 10.7x | 1.2x |
| Mon, 08 May 2023 | د.ت24.5b | د.ت20.2b | د.ت2.4b | 9.7x | 10.4x | 1.2x |
| Wed, 05 Apr 2023 | د.ت24.3b | د.ت19.6b | د.ت2.2b | 9.6x | 11.2x | 1.2x |
| Fri, 03 Mar 2023 | د.ت22.4b | د.ت19.5b | د.ت2.2b | 9.8x | 10.3x | 1.1x |
| Sun, 29 Jan 2023 | د.ت22.9b | د.ت19.5b | د.ت2.2b | 9.9x | 10.6x | 1.2x |
| Tue, 27 Dec 2022 | د.ت22.3b | د.ت19.3b | د.ت2.2b | 9.2x | 10.3x | 1.2x |
| Thu, 24 Nov 2022 | د.ت22.4b | د.ت19.1b | د.ت2.2b | 10x | 10.4x | 1.2x |
Price to Earnings Ratio
10.4x
Current Market PE
- Investors are optimistic on the Tunisian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 10.8x which is higher than its 3-year average PE of 9.5x.
Past Earnings Growth
- The earnings for Tunisian listed companies have grown 12% per year over the last three years.
- Revenues for these companies have grown 7.8% 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 Tunisian Market?
| TN Market | 1.61% | |
| Telecom | 4.00% | |
| Financials | 2.66% | |
| Energy | 1.83% | |
| Materials | 1.43% | |
| Industrials | 0.79% | |
| Tech | 0.64% | |
| Consumer Staples | 0.035% | |
| Consumer Discretionary | -0.55% | |
| Healthcare | -1.20% | |
| Real Estate | -4.57% | |
Sector PE
- Investors favour the Real Estate 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 6.9x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 14% over the next 5 years.
- However this is lower than its past earnings growth rate of 21% per year.
- In contrast, the Energy sector is expected to see its earnings decline by 3.1% 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 | |
|---|---|---|---|---|---|---|
| BT Banque de Tunisie Société anonyme | د.ت6.60 | 13.8% +د.ت216.0m | 31.2% | PB1.3x | Financials | |
| BIAT Banque Internationale Arabe de Tunisie Société anonyme | د.ت111.20 | 2.4% +د.ت106.1m | 22.7% | PB2x | Financials | |
| BH BH Bank Société anonyme | د.ت10.79 | 14.8% +د.ت66.2m | -10.1% | PE10.7x | Financials | |
| UIB Union Internationale de Banques Société anonyme | د.ت25.50 | 6.3% +د.ت51.8m | 12.8% | PB0.9x | Financials | |
| TJARI Banque Attijari de Tunisie Société anonyme | د.ت64.80 | 1.3% +د.ت40.0m | 57.1% | PB2.7x | Financials |
