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South African (JSE) Market Analysis & Valuation

UpdatedJun 28, 2022
DataAggregated Company Financials
Companies238
  • 7D3.0%
  • 3M-10.1%
  • 1Y2.1%
  • YTD-5.3%

The market is up 3.0% over the last week, with the Consumer Discretionary sector leading the way, up 19%. In the last 12 months, the market has been flat. Looking forward, earnings are forecast to decline by 9.6% per year.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPE
Tue, 28 Jun 2022R6.4tR5.2tR872.9b8.7x
Thu, 26 May 2022R6.2tR5.2tR790.8b9x
Sat, 23 Apr 2022R6.7tR5.2tR782.5b9.7x
Mon, 21 Mar 2022R7.3tR5.2tR768.1b10.3x
Wed, 16 Feb 2022R7.2tR5.1tR762.3b11x
Fri, 14 Jan 2022R7.2tR5.1tR764.9b10.6x
Sun, 12 Dec 2021R6.7tR5.1tR773.2b10x
Tue, 09 Nov 2021R6.7tR5.0tR586.5b11.1x
Thu, 07 Oct 2021R6.5tR5.0tR581.6b11.3x
Sat, 04 Sep 2021R6.5tR4.9tR513.3b11.8x
Mon, 02 Aug 2021R6.6tR4.9tR513.3b11.5x
Thu, 06 May 2021R6.6tR4.6tR373.1b12.3x
Sun, 07 Feb 2021R6.2tR4.4tR192.2b12x
Sat, 31 Oct 2020R5.2tR4.3tR127.2b11.8x
Tue, 04 Aug 2020R5.6tR4.3tR111.5b12.6x
Fri, 08 May 2020R5.0tR4.4tR219.4b11x
Mon, 10 Feb 2020R5.9tR4.4tR319.3b11.4x
Sun, 03 Nov 2019R6.0tR4.3tR343.2b11.7x
Wed, 07 Aug 2019R6.6tR4.2tR354.6b12.3x
Median PE Ratio

12.6x


Total Market Cap: R6.8tTotal Earnings: R361.7bTotal Revenue: R4.2tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Median PE3Y Average 11.4x202020212022
Current Market PE
  • Investors are pessimistic on the market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 7.3x which is lower than its 3-year average PE of 21.5x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 34% per year over the last three years.
  • Revenues for these companies have grown 7.2% 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 Market3.04%
Consumer Discretionary18.98%
Energy3.72%
Healthcare3.24%
Utilities0%
Financials-0.11%
Telecom-0.24%
Real Estate-0.24%
Consumer Staples-0.53%
Industrials-0.64%
Materials-0.80%
Tech-1.95%
Sector PE
  • Investors are most optimistic about the Healthcare sector, which is trading close to its 3-year average PE ratio of 15.0x.
  • Analysts are expecting annual earnings growth of 23%, which is lower than the prior year's growth of 100% per year.
  • This could indicate that the market believes that analysts are underestimating future growth.
  • Investors are most pessimistic about the Energy sector, which is trading close to its 3-year average of 4.4x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 39% over the next 5 years.
  • However this is lower than its past earnings growth rate of 227% per year.
  • In contrast, the Consumer Discretionary sector is expected to see its earnings decline by 83% 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
APN Aspen Pharmacare HoldingsR146.627.8%
+R4.5b
-8.2%PS11.1xHealthcare
KIO Kumba Iron OreR535.462.4%
+R4.0b
-16.3%PS5.2xMaterials
INL Investec GroupR90.504.0%
+R3.1b
63.6%PS8.9xFinancials
SLM SanlamR55.561.8%
+R2.0b
-10.2%PS12xFinancials
OMU Old MutualR11.772.9%
+R1.6b
-12.4%PS8.3xFinancials
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REM

R135.49

Remgro

7D

3.0%

1Y

19.7%

NPN

R2,348.69

Naspers

7D

28.3%

1Y

-20.8%

SOL

R369.67

Sasol

7D

-4.9%

1Y

69.5%

ABG

R157.99

Absa Group

7D

-4.2%

1Y

20.0%

FSR

R67.21

FirstRand

7D

1.2%

1Y

30.5%

BID

R309.42

Bid

7D

-2.3%

1Y

0.4%