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South African (JSE) Market Analysis & Valuation

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies212
  • 7D-1.5%
  • 3M-4.5%
  • 1Y-1.0%
  • YTD-6.4%

Over the last 7 days, the market has dropped 1.5%, driven by a loss of 2.3% in the Financials sector. Although the market performance has been flat over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024R5.4tR5.4tR456.0b8.5x11.7x1x
Thu, 15 Feb 2024R5.5tR5.3tR527.2b9.1x10.4x1x
Sat, 13 Jan 2024R5.7tR5.4tR541.0b9.4x10.5x1x
Mon, 11 Dec 2023R5.6tR5.5tR544.0b9.1x10.3x1x
Wed, 08 Nov 2023R5.4tR5.4tR542.3b8.7x10x1x
Fri, 06 Oct 2023R5.2tR5.5tR549.8b9.1x9.5x1x
Sun, 03 Sep 2023R5.8tR5.4tR564.2b8.7x10.2x1.1x
Tue, 01 Aug 2023R6.2tR5.3tR628.9b8.5x9.8x1.2x
Thu, 29 Jun 2023R5.8tR5.4tR629.0b8.5x9.2x1.1x
Sat, 27 May 2023R5.7tR5.4tR663.2b8.2x8.6x1.1x
Mon, 24 Apr 2023R6.1tR5.3tR669.8b8.2x9.1x1.1x
Wed, 22 Mar 2023R5.1tR5.1tR600.9b8.1x8.5x1x
Fri, 17 Feb 2023R6.3tR5.3tR660.1b8.6x9.6x1.2x
Sun, 15 Jan 2023R6.4tR5.2tR656.0b8.3x9.7x1.2x
Tue, 13 Dec 2022R6.0tR5.2tR659.9b8.5x9.1x1.2x
Thu, 10 Nov 2022R6.1tR5.1tR836.9b8.8x7.3x1.2x
Sat, 08 Oct 2022R5.7tR5.2tR838.8b8.5x6.8x1.1x
Mon, 05 Sep 2022R5.8tR5.3tR810.6b8x7.2x1.1x
Wed, 03 Aug 2022R5.8tR5.2tR755.1b8.3x7.7x1.1x
Fri, 01 Jul 2022R5.8tR5.2tR779.0b8.6x7.5x1.1x
Sun, 29 May 2022R6.5tR5.2tR790.4b9.2x8.2x1.3x
Tue, 26 Apr 2022R6.5tR5.2tR784.7b9.4x8.3x1.3x
Thu, 24 Mar 2022R7.3tR5.3tR768.9b10.1x9.4x1.4x
Sat, 19 Feb 2022R7.3tR5.1tR759.6b10.8x9.6x1.4x
Mon, 17 Jan 2022R7.1tR5.1tR764.6b10.8x9.3x1.4x
Wed, 15 Dec 2021R6.7tR5.1tR775.8b10.1x8.7x1.3x
Fri, 12 Nov 2021R6.8tR5.0tR601.3b10.7x11.3x1.4x
Sun, 10 Oct 2021R6.6tR5.0tR580.6b11.4x11.4x1.3x
Tue, 07 Sep 2021R6.5tR5.0tR547.2b11.8x11.9x1.3x
Thu, 05 Aug 2021R6.6tR4.9tR513.3b11.7x12.9x1.4x
Sun, 09 May 2021R6.6tR4.6tR373.1b12.3x17.7x1.4x
Price to Earnings Ratio

17.9x


Total Market Cap: R6.7tTotal Earnings: R371.9bTotal Revenue: R4.6tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.2x202220232024
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 11.7x which is higher than its 3-year average PE of 10.2x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 7.0% 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 Market-1.47%
Tech5.47%
Telecom1.51%
Healthcare1.29%
Consumer Discretionary0.90%
Utilities0%
Industrials-0.43%
Consumer Staples-1.89%
Financials-2.31%
Real Estate-2.48%
Materials-2.72%
Energy-8.88%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 8.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 28.2% which is higher than its past year's earnings decline of 9.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 62% over the next 5 years.
  • This is better than its past earnings decline of 2.9% per year.
  • In contrast, the Energy sector is expected to see its earnings decline 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?

CompanyLast Price7D1YValuationSector
NPN NaspersR3.10k4.4%
+R22.6b
-0.3%PE6.7xConsumer Discretionary
IMP Impala Platinum HoldingsR71.433.6%
+R2.2b
-58.9%PS0.7xMaterials
APN Aspen Pharmacare HoldingsR210.742.3%
+R2.1b
18.8%PE19.3xHealthcare
NPH Northam Platinum HoldingsR110.003.8%
+R1.6b
-27.9%PS1.2xMaterials
FTA FairvestR16.006.6%
+R1.5b
17.3%PB3.1xReal Estate
See more
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Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

Latest News

SBK

R186.05

Standard Bank Group

7D

-6.4%

1Y

12.7%

DSY

R123.97

Discovery

7D

-7.9%

1Y

-9.2%

FTA

R16.00

Fairvest

7D

6.6%

1Y

17.3%

NPH

R110.00

Northam Platinum Holdings

7D

3.8%

1Y

-27.9%

ABG

R150.21

Absa Group

7D

-5.1%

1Y

-13.0%

KIO

R437.50

Kumba Iron Ore

7D

-10.5%

1Y

-0.05%

IMP

R71.43

Impala Platinum Holdings

7D

3.6%

1Y

-58.9%

CPI

R2,060.33

Capitec Bank Holdings

7D

-3.5%

1Y

29.4%

OUT

R40.83

OUTsurance Group

7D

1.3%

1Y

21.8%

GFI

R270.74

Gold Fields

7D

-7.1%

1Y

24.0%

MTM

R20.80

Momentum Metropolitan Holdings

7D

3.1%

1Y

17.7%

SHP

R246.98

Shoprite Holdings

7D

-8.1%

1Y

14.5%

MIX

R8.86

MiX Telematics

7D

26.6%

1Y

46.0%