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May 01
South African (JSE) Capital Markets Industry Analysis
UpdatedMay 04, 2024
DataAggregated Company Financials
Companies18
- 7D1.6%
- 3M-0.3%
- 1Y8.8%
- YTD-2.3%
The Capital Markets industry is up 1.4% in the last week, with Investec Group up 1.3%. Meanwhile, RH Bophelo actually underperformed within the industry, shrinking 14% in the last week. In the last 12 months, the industry was up 10%. Looking forward, earnings are forecast to grow by 3.6% annually.
Industry Valuation and Performance
Has the South African Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 04 May 2024 | R173.8b | R77.4b | R19.9b | 10.1x | 8.8x | 2.2x |
| Mon, 01 Apr 2024 | R176.3b | R78.4b | R19.1b | 9.7x | 9.3x | 2.2x |
| Wed, 28 Feb 2024 | R173.2b | R78.6b | R15.7b | 10.7x | 11x | 2.2x |
| Fri, 26 Jan 2024 | R179.8b | R82.1b | R15.9b | 10.2x | 11.3x | 2.2x |
| Sun, 24 Dec 2023 | R183.1b | R81.1b | R15.6b | 10x | 11.7x | 2.3x |
| Tue, 21 Nov 2023 | R177.6b | R81.2b | R14.3b | 10.5x | 12.4x | 2.2x |
| Thu, 19 Oct 2023 | R169.1b | R80.0b | R17.8b | 10x | 9.5x | 2.1x |
| Sat, 16 Sep 2023 | R164.5b | R78.3b | R16.0b | 10.5x | 10.3x | 2.1x |
| Mon, 14 Aug 2023 | R167.8b | R79.8b | R16.9b | 12.1x | 9.9x | 2.1x |
| Wed, 12 Jul 2023 | R157.1b | R79.4b | R16.7b | 12.4x | 9.4x | 2x |
| Fri, 09 Jun 2023 | R158.6b | R78.7b | R18.0b | 15.2x | 8.8x | 2x |
| Sun, 07 May 2023 | R155.3b | R75.3b | R17.0b | 9.9x | 9.1x | 2.1x |
| Tue, 04 Apr 2023 | R167.8b | R77.3b | R19.5b | 10.5x | 8.6x | 2.2x |
| Thu, 02 Mar 2023 | R177.4b | R74.2b | R20.5b | 9.2x | 8.7x | 2.4x |
| Sat, 28 Jan 2023 | R176.7b | R73.2b | R20.1b | 9.5x | 8.8x | 2.4x |
| Mon, 26 Dec 2022 | R169.5b | R71.4b | R19.6b | 8.9x | 8.7x | 2.4x |
| Wed, 23 Nov 2022 | R168.7b | R72.1b | R24.9b | 7.9x | 6.8x | 2.3x |
| Fri, 21 Oct 2022 | R150.6b | R69.3b | R21.1b | 7.8x | 7.1x | 2.2x |
| Sun, 18 Sep 2022 | R146.6b | R68.2b | R20.9b | 7.8x | 7x | 2.1x |
| Tue, 16 Aug 2022 | R162.4b | R67.6b | R20.9b | 8.4x | 7.8x | 2.4x |
| Thu, 14 Jul 2022 | R152.2b | R68.1b | R19.6b | 9.1x | 7.8x | 2.2x |
| Sat, 11 Jun 2022 | R161.0b | R67.9b | R20.0b | 9.4x | 8x | 2.4x |
| Mon, 09 May 2022 | R161.6b | R65.5b | R18.1b | 10.4x | 8.9x | 2.5x |
| Wed, 06 Apr 2022 | R181.9b | R64.0b | R19.0b | 10.3x | 9.5x | 2.8x |
| Fri, 04 Mar 2022 | R161.8b | R65.5b | R18.4b | 10.1x | 8.8x | 2.5x |
| Sun, 30 Jan 2022 | R175.6b | R66.7b | R18.7b | 10.4x | 9.4x | 2.6x |
| Tue, 28 Dec 2021 | R169.7b | R66.4b | R17.5b | 10.5x | 9.7x | 2.6x |
| Thu, 25 Nov 2021 | R165.0b | R66.9b | R16.8b | 11.3x | 9.8x | 2.5x |
| Sat, 23 Oct 2021 | R151.2b | R60.0b | R13.5b | 11.4x | 11.2x | 2.5x |
| Mon, 20 Sep 2021 | R131.5b | R59.0b | R12.8b | 11.4x | 10.3x | 2.2x |
| Wed, 18 Aug 2021 | R131.7b | R61.3b | R12.8b | 11.4x | 10.3x | 2.1x |
| Wed, 02 Jun 2021 | R135.7b | R61.1b | R12.8b | 11.4x | 10.6x | 2.2x |
Price to Earnings Ratio
10.6x
Current Industry PE
- Investors are relatively neutral on the South African Capital Markets industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 9.6x.
- The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have grown 16% per year over the last three years.
- Revenues for these companies have grown 8.2% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the South African Financials industry?
| ZA Market | 1.90% | |
| Financials | 2.49% | |
| Capital Markets | 1.61% | |
| Financial Exchanges and Data | 5.43% | |
| Asset Management | 1.55% | |
| Diversified Capital Markets | 1.39% | |
| Investment Banking and Brokerage | 0% | |
Industry PE
- Investors are most optimistic about the Asset Management industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Diversified Capital Markets industry, which is trading below its 3-year average of 8.8x.
Forecasted Growth
- Analysts are most optimistic on the Financial Exchanges and Data industry, expecting annual earnings growth of 4.5% over the next 5 years.
- However this is lower than its past earnings growth rate of 11% per year.
- In contrast, the Diversified Capital Markets industry is expected to see its earnings grow by 3.5% 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 | |
|---|---|---|---|---|---|
| INL Investec Group | R120.59 | 1.3% +R1.4b | 17.3% | PE7.3x | |
| KST PSG Financial Services | R15.40 | 2.7% +R507.2m | 18.3% | PE18.9x | |
| JSE JSE | R88.28 | 5.4% +R389.1m | -7.6% | PE9.1x | |
| CML Coronation Fund Managers | R30.70 | 1.2% +R123.1m | -0.6% | PE16.8x | |
| ZED Zeder Investments | R1.83 | 4.0% +R107.5m | 3.4% | PE234.1x |