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South African (JSE) Market Analysis & Valuation

UpdatedJan 04, 2025
DataAggregated Company Financials
Companies214
  • 7D0.2%
  • 3M-1.6%
  • 1Y11.6%
  • YTD0.4%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector gained 6.8% in that time. As for the longer term, the market has risen 12% in the past 12 months. Earnings are forecast to grow by 19% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jan 2025R6.3tR5.3tR369.3b9.9x17x1.2x
Mon, 02 Dec 2024R6.2tR5.3tR350.7b10.1x17.8x1.2x
Wed, 30 Oct 2024R6.4tR5.1tR339.4b10.4x18.9x1.2x
Fri, 27 Sep 2024R6.4tR5.2tR334.6b10.2x19.2x1.2x
Sun, 25 Aug 2024R6.2tR5.2tR349.5b9.7x17.7x1.2x
Tue, 23 Jul 2024R5.9tR5.2tR421.8b9.3x13.9x1.1x
Thu, 20 Jun 2024R5.9tR5.2tR431.8b9x13.7x1.1x
Sat, 18 May 2024R5.8tR5.3tR431.2b8.7x13.3x1.1x
Mon, 15 Apr 2024R5.5tR5.3tR433.1b8.6x12.7x1x
Wed, 13 Mar 2024R5.5tR5.4tR448.4b8.5x12.2x1x
Fri, 09 Feb 2024R5.5tR5.3tR535.8b9x10.3x1x
Sun, 07 Jan 2024R5.7tR5.4tR541.2b9.5x10.5x1x
Tue, 05 Dec 2023R5.7tR5.4tR546.4b9.1x10.4x1x
Thu, 02 Nov 2023R5.3tR5.5tR543.9b8.7x9.7x1x
Sat, 30 Sep 2023R5.5tR5.5tR549.4b9.2x10x1x
Mon, 28 Aug 2023R5.8tR5.4tR585.9b8.5x9.9x1.1x
Wed, 26 Jul 2023R6.0tR5.3tR632.8b8.5x9.5x1.1x
Fri, 23 Jun 2023R5.8tR5.4tR630.3b8.4x9.2x1.1x
Sun, 21 May 2023R5.9tR5.4tR669.0b7.6x8.8x1.1x
Tue, 18 Apr 2023R6.1tR5.3tR658.3b8.2x9.3x1.2x
Thu, 16 Mar 2023R5.8tR5.3tR648.2b8.2x9x1.1x
Sat, 11 Feb 2023R6.3tR5.3tR663.7b8.6x9.5x1.2x
Mon, 09 Jan 2023R6.2tR5.2tR657.5b8.3x9.4x1.2x
Wed, 07 Dec 2022R6.1tR5.2tR658.2b8.5x9.3x1.2x
Fri, 04 Nov 2022R5.8tR5.2tR842.3b8.4x6.9x1.1x
Sun, 02 Oct 2022R5.5tR5.1tR838.2b8.5x6.6x1.1x
Tue, 30 Aug 2022R6.0tR5.3tR801.3b8.4x7.5x1.1x
Thu, 28 Jul 2022R5.9tR5.2tR768.2b8.6x7.7x1.1x
Sat, 25 Jun 2022R6.2tR5.2tR802.9b8.7x7.8x1.2x
Mon, 23 May 2022R6.3tR5.2tR794.2b9.1x8x1.2x
Wed, 20 Apr 2022R6.9tR5.1tR770.6b9.8x8.9x1.3x
Fri, 18 Mar 2022R7.3tR5.2tR765.4b10.3x9.5x1.4x
Sun, 13 Feb 2022R7.3tR5.1tR761.8b10.7x9.5x1.4x
Tue, 11 Jan 2022R6.9tR5.1tR770.2b10.7x9x1.4x
Price to Earnings Ratio

9x


Total Market Cap: R6.9tTotal Earnings: R770.2bTotal Revenue: R5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 10.8x202320242025
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 17.0x which is higher than its 3-year average PE of 10.8x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 22% 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 Market0.16%
Tech6.76%
Energy2.48%
Materials2.02%
Healthcare1.02%
Telecom0.68%
Real Estate0.40%
Financials0.17%
Utilities0%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Consumer Staples-0.28%
Industrials-0.73%
Consumer Discretionary-1.51%
Sector PE
  • Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 19.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 50.4% which is higher than its past year's earnings decline of 3.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 50% over the next 5 years.
  • This is better than its past earnings decline of 3.1% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 8.3% 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
GFI Gold FieldsR265.275.8%
+R13.0b		10.5%PE18.8xMaterials
SBK Standard Bank GroupR224.790.7%
+R2.6b		9.5%PB1.4xFinancials
SOL SasolR86.114.2%
+R2.2b		-53.5%PS0.2xMaterials
VOD Vodacom GroupR103.471.1%
+R2.2b		-2.0%PE13.6xTelecom
SLM SanlamR87.301.1%
+R1.9b		22.0%PE10.8xFinancials
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