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South African (JSE) Market Analysis & Valuation

UpdatedJul 06, 2025
DataAggregated Company Financials
Companies212
  • 7D1.5%
  • 3M18.5%
  • 1Y18.5%
  • YTD12.4%

Over the last 7 days, the market has risen 1.5%, driven by gains of 7.0% in the Materials sector. As for the past 12 months, the market is up 19%. As for the next few years, earnings are expected to grow by 18% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 07 Jul 2025R7.0tR5.5tR472.5b8.5x14.8x1.3x
Wed, 04 Jun 2025R6.8tR5.4tR432.7b8.7x15.7x1.3x
Fri, 02 May 2025R6.6tR5.4tR425.0b8.7x15.6x1.2x
Sun, 30 Mar 2025R6.5tR5.3tR422.7b8.6x15.4x1.2x
Tue, 25 Feb 2025R6.4tR5.3tR410.8b9.4x15.5x1.2x
Thu, 23 Jan 2025R6.2tR5.3tR367.8b9.8x17x1.2x
Sat, 21 Dec 2024R6.3tR5.3tR364.2b10x17.2x1.2x
Mon, 18 Nov 2024R6.2tR5.3tR344.4b10x18x1.2x
Wed, 16 Oct 2024R6.3tR5.1tR338.8b10.3x18.7x1.2x
Fri, 13 Sep 2024R6.0tR5.2tR346.7b9.7x17.3x1.2x
Sun, 11 Aug 2024R5.9tR5.2tR417.7b9.6x14.1x1.1x
Tue, 09 Jul 2024R5.8tR5.1tR458.5b9.3x12.8x1.1x
Thu, 06 Jun 2024R5.5tR5.2tR436.8b8.7x12.5x1x
Sat, 04 May 2024R5.5tR5.3tR432.5b8.6x12.8x1x
Mon, 01 Apr 2024R5.5tR5.3tR434.0b8.7x12.6x1x
Wed, 28 Feb 2024R5.5tR5.3tR516.3b9.1x10.6x1x
Fri, 26 Jan 2024R5.6tR5.5tR542.3b9.4x10.4x1x
Sun, 24 Dec 2023R5.7tR5.4tR540.1b9.3x10.6x1.1x
Tue, 21 Nov 2023R5.6tR5.4tR538.3b9x10.4x1x
Thu, 19 Oct 2023R5.4tR5.5tR547.5b9.1x9.9x1x
Sat, 16 Sep 2023R5.7tR5.5tR553.7b8.8x10.3x1x
Mon, 14 Aug 2023R6.0tR5.4tR631.5b8.4x9.5x1.1x
Wed, 12 Jul 2023R5.8tR5.4tR658.7b8.5x8.8x1.1x
Fri, 09 Jun 2023R7.4tR5.4tR655.7b8.3x11.4x1.4x
Sun, 07 May 2023R6.1tR5.3tR669.3b8.3x9.1x1.1x
Tue, 04 Apr 2023R6.0tR5.3tR646.6b8.4x9.3x1.1x
Thu, 02 Mar 2023R6.2tR5.3tR638.5b8.8x9.7x1.2x
Sat, 28 Jan 2023R6.5tR5.2tR658.5b8.3x9.8x1.2x
Mon, 26 Dec 2022R6.0tR5.2tR656.2b8.4x9.2x1.2x
Wed, 23 Nov 2022R6.1tR5.2tR838.3b8.6x7.3x1.2x
Fri, 21 Oct 2022R5.7tR5.2tR841.2b8.4x6.7x1.1x
Sun, 18 Sep 2022R5.7tR5.1tR823.7b8.4x6.9x1.1x
Tue, 16 Aug 2022R6.1tR5.2tR756.6b8.8x8.1x1.2x
Thu, 14 Jul 2022R5.8tR5.3tR788.1b8.5x7.3x1.1x
Price to Earnings Ratio

7.3x


Total Market Cap: R5.8tTotal Earnings: R788.1bTotal Revenue: R5.3tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 12x202320242025
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 14.8x which is higher than its 3-year average PE of 12.0x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 16% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the South African Market?

ZA Market1.54%
Materials7.02%
Energy5.05%
Real Estate1.17%
Healthcare1.16%
Telecom0.77%
Tech0.65%
Financials0.57%
Industrials0.35%
Utilities0%0
Consumer Staples-0.11%
Consumer Discretionary-0.77%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 24.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 42.2%, which is higher than its past year's earnings growth of 0.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 42% over the next 5 years.
  • This is better than its past earnings growth rate of 0.8% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 7.3% 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
VAL Valterra PlatinumR850.007.6%
+R15.7b
28.7%PE31.6xMaterials
GFI Gold FieldsR432.544.0%
+R15.0b
52.5%PE17.7xMaterials
IMP Impala Platinum HoldingsR171.107.7%
+R10.9b
79.5%PS1.8xMaterials
SSW Sibanye StillwaterR34.948.3%
+R7.6b
61.8%PS0.9xMaterials
SOL SasolR88.5412.4%
+R6.2b
-38.0%PS0.2xMaterials
See more

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