With EPS Growth And More, First Investment Bank AD (BUL:FIB) Makes An Interesting Case
Jun 07
Bulgarian (SOFIX) Market Analysis & Valuation
UpdatedJul 09, 2024
DataAggregated Company Financials
Companies170
- 7D-0.3%
- 3M5.9%
- 1Y18.2%
- YTD8.6%
The market has stayed flat over the 7 days. More promisingly, the market is up 18% over the past year. Looking forward, earnings are forecast to grow by 30% annually.
Market Valuation and Performance
Has the Bulgarian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 09 Jul 2024 | лв15.7b | лв12.1b | лв877.7m | 13.8x | 17.8x | 1.3x |
| Thu, 06 Jun 2024 | лв15.8b | лв16.0b | лв1.1b | 14.4x | 14.2x | 1x |
| Sat, 04 May 2024 | лв15.2b | лв16.6b | лв1.1b | 13x | 13.7x | 0.9x |
| Mon, 01 Apr 2024 | лв14.8b | лв16.7b | лв1.2b | 14x | 12.7x | 0.9x |
| Wed, 28 Feb 2024 | лв14.9b | лв15.9b | лв1.1b | 13.6x | 13.3x | 0.9x |
| Fri, 26 Jan 2024 | лв16.1b | лв17.9b | лв1.3b | 11.1x | 12.3x | 0.9x |
| Sun, 24 Dec 2023 | лв15.6b | лв17.7b | лв1.3b | 11.4x | 12.1x | 0.9x |
| Tue, 21 Nov 2023 | лв15.7b | лв19.0b | лв1.4b | 12.4x | 10.9x | 0.8x |
| Thu, 19 Oct 2023 | лв15.6b | лв18.8b | лв1.4b | 12.6x | 11.2x | 0.8x |
| Sat, 16 Sep 2023 | лв15.2b | лв18.8b | лв1.4b | 12x | 10.9x | 0.8x |
| Mon, 14 Aug 2023 | лв14.7b | лв15.9b | лв1.1b | 13x | 13.2x | 0.9x |
| Wed, 12 Jul 2023 | лв14.4b | лв19.2b | лв1.3b | 13.2x | 10.8x | 0.8x |
| Fri, 09 Jun 2023 | лв14.4b | лв20.6b | лв1.1b | 13.7x | 13.5x | 0.7x |
| Sun, 07 May 2023 | лв13.8b | лв20.3b | лв1.1b | 12.6x | 12.4x | 0.7x |
| Tue, 04 Apr 2023 | лв13.7b | лв20.3b | лв1.0b | 13.4x | 13.4x | 0.7x |
| Thu, 02 Mar 2023 | лв13.7b | лв20.4b | лв1.1b | 13.8x | 12.2x | 0.7x |
| Sat, 28 Jan 2023 | лв13.7b | лв20.3b | лв1.1b | 13.4x | 12.3x | 0.7x |
| Mon, 26 Dec 2022 | лв13.5b | лв20.2b | лв1.2b | 11.9x | 11.7x | 0.7x |
| Wed, 23 Nov 2022 | лв12.9b | лв18.6b | лв1.0b | 12.3x | 12.7x | 0.7x |
| Fri, 21 Oct 2022 | лв12.9b | лв18.5b | лв1.1b | 12.5x | 12.1x | 0.7x |
| Sun, 18 Sep 2022 | лв13.0b | лв18.4b | лв1.1b | 13.5x | 12.3x | 0.7x |
| Tue, 16 Aug 2022 | лв13.5b | лв16.9b | лв979.2m | 14.1x | 13.8x | 0.8x |
| Thu, 14 Jul 2022 | лв13.3b | лв16.9b | лв984.7m | 14.3x | 13.5x | 0.8x |
| Sat, 11 Jun 2022 | лв29.9b | лв16.5b | лв986.7m | 14.4x | 30.3x | 1.8x |
| Mon, 09 May 2022 | лв29.6b | лв15.7b | лв826.2m | 14.5x | 35.8x | 1.9x |
| Wed, 06 Apr 2022 | лв29.6b | лв15.1b | лв862.5m | 14.2x | 34.3x | 2x |
| Fri, 04 Mar 2022 | лв28.9b | лв13.4b | лв713.2m | 14.9x | 40.5x | 2.2x |
| Sun, 30 Jan 2022 | лв29.5b | лв12.9b | лв577.2m | 16.2x | 51.1x | 2.3x |
| Tue, 28 Dec 2021 | лв29.3b | лв12.9b | лв585.9m | 17.1x | 50x | 2.3x |
| Thu, 25 Nov 2021 | лв29.2b | лв12.1b | лв488.1m | 17.4x | 59.9x | 2.4x |
| Sat, 23 Oct 2021 | лв28.9b | лв11.8b | лв485.1m | 18.1x | 59.7x | 2.5x |
| Mon, 20 Sep 2021 | лв28.6b | лв11.8b | лв473.4m | 17.4x | 60.4x | 2.4x |
| Wed, 18 Aug 2021 | лв28.5b | лв11.8b | лв483.2m | 16x | 59x | 2.4x |
Price to Earnings Ratio
58.6x
Current Market PE
- Investors are pessimistic on the Bulgarian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 17.8x which is lower than its 3-year average PE of 23.4x.
Past Earnings Growth
- The earnings for Bulgarian listed companies have grown 22% per year over the last three years, while revenues have remained steady.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Sector Trends
Which sectors have driven the changes within the Bulgarian Market?
| BG Market | -0.29% | |
| Consumer Staples | 0.27% | |
| Industrials | 0.047% | |
| Energy | 0% | |
| Utilities | 0% | |
| Financials | -0.26% | |
| Real Estate | -0.26% | |
| Tech | -0.40% | |
| Healthcare | -0.59% | |
| Telecom | -0.79% | |
| Consumer Discretionary | -1.08% | |
| Materials | -1.63% | |
Sector PE
- Investors favour the Telecom sector the most for future growth even though it's trading below its 3-year average PE ratio of 240x.
- It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 30% over the next 5 years.
- However this is lower than its past earnings growth rate of 53% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 27% 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 | |
|---|---|---|---|---|---|---|
| EUBG Eurohold Bulgaria AD | лв1.53 | 2.0% +лв7.8m | -13.1% | PS0.1x | Financials | |
| AGH Agria Group Holding AD | лв21.10 | 5.5% +лв7.4m | -8.3% | PE6.5x | Industrials | |
| MSH M+S Hydraulic AD | лв9.90 | 1.5% +лв5.9m | -9.2% | PE14.2x | Industrials | |
| SO Smart Organic AD | лв23.20 | 1.8% +лв4.1m | n/a | PE18.5x | Consumer Staples | |
| SGH Sirma Group Holding AD | лв1.11 | 6.7% +лв3.9m | 65.7% | PS0.7x | Tech |
