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South African (JSE) Market Analysis & Valuation

UpdatedApr 25, 2024
DataAggregated Company Financials
Companies211
  • 7D1.1%
  • 3M-3.2%
  • 1Y-4.9%
  • YTD-6.1%

The market has climbed 1.1% in the last 7 days, lead by the Consumer Discretionary sector with a gain of 9.1%. In contrast, the Materials sector is lagging, dropping 7.4%. In contrast, the market has seen a decline of 4.9% over the last 12 months. Earnings are forecast to grow by 17% annually.

Market Valuation and Performance

Has the South African Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Apr 2024R5.4tR5.4tR437.2b8.4x12.2x1x
Sat, 23 Mar 2024R5.4tR5.4tR450.0b8.4x12x1x
Mon, 19 Feb 2024R5.5tR5.3tR526.0b9x10.4x1x
Wed, 17 Jan 2024R5.6tR5.5tR543.0b9.4x10.3x1x
Fri, 15 Dec 2023R5.8tR5.4tR540.3b9.1x10.7x1.1x
Sun, 12 Nov 2023R5.5tR5.4tR537.4b9x10.1x1x
Tue, 10 Oct 2023R5.3tR5.5tR550.0b9.1x9.6x1x
Thu, 07 Sep 2023R5.7tR5.4tR560.8b8.8x10.2x1.1x
Sat, 05 Aug 2023R6.0tR5.3tR630.1b8.5x9.5x1.1x
Mon, 03 Jul 2023R5.8tR5.4tR660.6b8.6x8.9x1.1x
Wed, 31 May 2023R5.6tR5.4tR663.4b7.9x8.5x1x
Fri, 28 Apr 2023R6.1tR5.4tR671.0b8.1x9.1x1.1x
Sun, 26 Mar 2023R5.8tR5.3tR645.5b8.2x9x1.1x
Tue, 21 Feb 2023R6.3tR5.3tR660.0b8.6x9.5x1.2x
Thu, 19 Jan 2023R6.3tR5.2tR657.5b8.3x9.6x1.2x
Sat, 17 Dec 2022R5.9tR5.2tR658.9b8.4x9x1.1x
Mon, 14 Nov 2022R6.2tR5.1tR834.8b8.9x7.4x1.2x
Wed, 12 Oct 2022R5.6tR5.2tR838.9b8.5x6.7x1.1x
Fri, 09 Sep 2022R5.8tR5.3tR811.4b8.5x7.1x1.1x
Sun, 07 Aug 2022R6.0tR5.2tR757.0b8.5x7.9x1.1x
Tue, 05 Jul 2022R5.9tR5.2tR779.3b8.6x7.6x1.1x
Thu, 02 Jun 2022R6.6tR5.2tR791.4b9.3x8.3x1.3x
Sat, 30 Apr 2022R6.7tR5.2tR784.9b9.6x8.6x1.3x
Mon, 28 Mar 2022R7.2tR5.3tR772.6b10.2x9.3x1.4x
Wed, 23 Feb 2022R7.1tR5.1tR758.5b10.6x9.4x1.4x
Fri, 21 Jan 2022R7.1tR5.1tR760.4b10.7x9.4x1.4x
Sun, 19 Dec 2021R6.8tR5.1tR771.2b10.4x8.8x1.3x
Tue, 16 Nov 2021R6.8tR5.0tR603.8b10.9x11.3x1.3x
Thu, 14 Oct 2021R6.7tR5.0tR580.0b11.1x11.5x1.3x
Sat, 11 Sep 2021R6.3tR5.0tR547.2b11.6x11.4x1.3x
Mon, 09 Aug 2021R6.6tR4.9tR513.3b11.8x12.9x1.4x
Sun, 02 May 2021R6.6tR4.6tR373.1b12.3x17.7x1.4x
Price to Earnings Ratio

17.7x


Total Market Cap: R6.6tTotal Earnings: R373.1bTotal Revenue: R4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.1x202220232024
Current Market PE
  • Investors are optimistic on the South African market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 12.2x which is higher than its 3-year average PE of 10.1x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 5.4% per year over the last three years.
  • Revenues for these companies have grown 5.3% 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 South African Market?

ZA Market1.09%
Consumer Discretionary9.08%
Financials3.11%
Consumer Staples2.81%
Telecom2.32%
Industrials0.92%
Utilities0%
Real Estate-0.81%
Tech-1.21%
Healthcare-1.98%
Energy-2.49%
Materials-7.38%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 10.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.6% which is higher than its past year's earnings decline of 6.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 71% over the next 5 years.
  • This is better than its past earnings decline of 1.2% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 15% 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
NPN NaspersR3.68k14.8%
+R65.8b		13.7%PE7.4xConsumer Discretionary
CPI Capitec Bank HoldingsR2.16k8.9%
+R20.4b		33.2%PB5.7xFinancials
FSR FirstRandR61.964.8%
+R15.9b		-2.8%PE9.1xFinancials
SBK Standard Bank GroupR172.253.1%
+R8.6b		1.1%PB1.1xFinancials
SHP Shoprite HoldingsR242.506.7%
+R8.3b		9.2%PE20.4xConsumer Staples
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R172.25

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HAR

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R242.50

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9.2%

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R131.30

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1Y

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FSR

R61.96

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1Y

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1Y

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