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South African (JSE) Market Analysis & Valuation

UpdatedApr 27, 2024
DataAggregated Company Financials
Companies211
  • 7D1.5%
  • 3M-3.7%
  • 1Y-4.7%
  • YTD-5.4%

The market is up 1.5% in the last 7 days, led by the Financials and Consumer Discretionary sectors. In contrast, the Materials sector is lagging, dropping 7.9%. Over the past year the market is down 4.7%. As for the next few years, earnings are expected to grow by 16% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Apr 2024R5.4tR5.3tR434.5b8.4x12.4x1x
Mon, 25 Mar 2024R5.4tR5.4tR450.0b8.4x12x1x
Wed, 21 Feb 2024R5.5tR5.3tR509.1b9.1x10.7x1x
Fri, 19 Jan 2024R5.5tR5.5tR542.9b9.4x10.2x1x
Sun, 17 Dec 2023R5.8tR5.4tR539.3b9.1x10.7x1.1x
Tue, 14 Nov 2023R5.5tR5.4tR537.4b9x10.2x1x
Thu, 12 Oct 2023R5.5tR5.4tR546.3b9x10.1x1x
Sat, 09 Sep 2023R5.7tR5.5tR559.6b8.8x10.2x1x
Mon, 07 Aug 2023R6.0tR5.3tR630.8b8.5x9.5x1.1x
Wed, 05 Jul 2023R5.9tR5.4tR659.6b8.6x8.9x1.1x
Fri, 02 Jun 2023R5.8tR5.4tR663.4b8.1x8.7x1.1x
Sun, 30 Apr 2023R6.2tR5.4tR671.2b8.2x9.2x1.1x
Tue, 28 Mar 2023R5.9tR5.3tR646.4b8.2x9.2x1.1x
Thu, 23 Feb 2023R6.2tR5.3tR640.2b8.7x9.6x1.2x
Sat, 21 Jan 2023R6.4tR5.2tR658.2b8.3x9.7x1.2x
Mon, 19 Dec 2022R5.9tR5.2tR660.6b8.3x8.9x1.1x
Wed, 16 Nov 2022R6.1tR5.2tR832.8b8.7x7.4x1.2x
Fri, 14 Oct 2022R5.6tR5.2tR842.6b8.5x6.6x1.1x
Sun, 11 Sep 2022R5.9tR5.2tR810.3b8.5x7.2x1.1x
Tue, 09 Aug 2022R6.0tR5.2tR754.1b8.7x8x1.2x
Thu, 07 Jul 2022R5.8tR5.3tR786.7b8.5x7.4x1.1x
Sat, 04 Jun 2022R6.5tR5.2tR790.1b9.2x8.3x1.3x
Mon, 02 May 2022R6.7tR5.2tR784.9b9.6x8.6x1.3x
Wed, 30 Mar 2022R7.1tR5.2tR759.1b10.2x9.4x1.4x
Fri, 25 Feb 2022R7.1tR5.1tR767.2b10.5x9.2x1.4x
Sun, 23 Jan 2022R7.1tR5.1tR759.4b10.9x9.3x1.4x
Tue, 21 Dec 2021R6.7tR5.1tR769.6b10.2x8.6x1.3x
Thu, 18 Nov 2021R6.9tR5.1tR608.0b10.7x11.3x1.4x
Sat, 16 Oct 2021R6.7tR5.0tR578.7b11.3x11.6x1.3x
Mon, 13 Sep 2021R6.3tR5.0tR547.2b11.8x11.6x1.3x
Wed, 11 Aug 2021R6.6tR4.9tR513.3b11.7x12.9x1.4x
Sun, 06 Jun 2021R6.7tR4.6tR373.6b12.7x18x1.5x
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 12.4x which is higher than its 3-year average PE of 10.1x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 5.2% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 Market1.54%
Consumer Discretionary8.15%
Financials4.38%
Telecom3.10%
Consumer Staples2.88%
Industrials2.38%
Healthcare1.89%
Real Estate1.47%
Utilities0%
Tech-0.24%
Energy-5.26%
Materials-7.92%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 10.3x.
    • 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 14% 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 NaspersR3.62k11.3%
+R47.5b		11.1%PE7.4xConsumer Discretionary
CPI Capitec Bank HoldingsR2.24k12.0%
+R27.8b		40.6%PB6xFinancials
FSR FirstRandR63.546.0%
+R20.2b		-1.3%PE9.4xFinancials
SHP Shoprite HoldingsR248.477.3%
+R9.2b		11.4%PE20.9xConsumer Staples
SBK Standard Bank GroupR172.833.2%
+R8.7b		0.9%PB1.1xFinancials
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