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South African (JSE) Market Analysis & Valuation

UpdatedJan 27, 2023
DataAggregated Company Financials
Companies240
  • 7D0.4%
  • 3M10.1%
  • 1Y1.2%
  • YTD3.9%

The market has been flat over the last week. Similarly, the market is flat for the past 12 months. Earnings are forecast to grow by 6.9% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Jan 2023R6.4tR5.2tR658.8b8.5x9.8x1.2x
Sun, 25 Dec 2022R6.0tR5.2tR656.2b8.4x9.2x1.2x
Tue, 22 Nov 2022R6.1tR5.2tR838.3b8.5x7.2x1.2x
Thu, 20 Oct 2022R5.7tR5.2tR842.0b8.4x6.7x1.1x
Sat, 17 Sep 2022R5.7tR5.1tR820.2b8.9x7x1.1x
Mon, 15 Aug 2022R6.1tR5.2tR754.3b8.7x8.1x1.2x
Wed, 13 Jul 2022R5.9tR5.3tR788.4b8.6x7.5x1.1x
Fri, 10 Jun 2022R6.3tR5.2tR790.0b8.9x8x1.2x
Sun, 08 May 2022R6.3tR5.2tR786.8b9.4x8x1.2x
Tue, 05 Apr 2022R7.2tR5.2tR762.2b9.8x9.5x1.4x
Thu, 03 Mar 2022R7.4tR5.2tR756.0b10.6x9.8x1.4x
Sat, 29 Jan 2022R6.9tR5.1tR769.1b10.6x9x1.4x
Mon, 27 Dec 2021R6.8tR5.1tR765.5b10.6x8.8x1.3x
Wed, 24 Nov 2021R6.7tR5.1tR758.1b10.5x8.8x1.3x
Fri, 22 Oct 2021R6.7tR5.0tR579.0b11.1x11.5x1.3x
Sun, 19 Sep 2021R6.3tR5.0tR547.9b11.7x11.6x1.3x
Tue, 17 Aug 2021R6.6tR4.9tR513.3b11.5x12.8x1.4x
Tue, 01 Jun 2021R6.7tR4.6tR373.6b12.7x18x1.5x
Fri, 05 Mar 2021R6.4tR4.4tR198.9b11.6x32.4x1.5x
Mon, 07 Dec 2020R5.6tR4.3tR131.3b12.2x42.7x1.3x
Thu, 10 Sep 2020R5.5tR4.3tR106.7b12.2x51.2x1.3x
Wed, 03 Jun 2020R4.9tR4.4tR222.0b11x22.2x1.1x
Sat, 07 Mar 2020R5.4tR4.4tR317.9b10.2x16.8x1.2x
Price to Earnings Ratio

18.5x


Total Market Cap: R5.9tTotal Earnings: R319.3bTotal Revenue: R4.4tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 19.6x202120222023
Current Market PE
  • Investors are pessimistic on the South African market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 9.8x which is lower than its 3-year average PE of 19.6x.
Past Earnings Growth
  • The earnings for South African listed companies have grown 27% per year over the last three years.
  • Revenues for these companies have grown 5.9% 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 Market0.36%
Consumer Discretionary2.71%
Financials1.34%
Telecom1.14%
Tech0.12%
Utilities0%
Industrials-0.037%
Healthcare-0.55%
Consumer Staples-0.58%
Real Estate-1.12%
Energy-1.41%
Materials-1.60%
Sector PE
  • Investors are most optimistic about the Consumer Staples sector even though it's trading below its 3-year average PE ratio of 24.8x.
    • Analysts are expecting annual earnings growth of 8.8%, which is lower than the prior year's growth of 22.8% per year.
  • Investors are most pessimistic about the Energy sector, which is trading below its 3-year average of 4.8x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 48% over the next 5 years.
  • This is better than its past earnings decline of 3.4% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 9.0% 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 NaspersR3.50k4.6%
+R30.5b
49.2%PE19.7xConsumer Discretionary
SOL SasolR318.678.2%
+R15.5b
-5.7%PE5.3xMaterials
MTN MTN GroupR142.485.4%
+R13.1b
-15.1%PE13.5xTelecom
SBK Standard Bank GroupR173.662.6%
+R7.3b
18.8%PB1.3xFinancials
NED Nedbank GroupR226.765.3%
+R5.6b
21.3%PB1.1xFinancials
See more
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R264.50

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7D

-4.3%

1Y

-8.0%

IMP

R203.85

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7D

-5.5%

1Y

-10.8%

NED

R226.76

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5.3%

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21.3%

AMS

R1,295.00

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7D

-6.8%

1Y

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SLM

R55.75

Sanlam

7D

3.8%

1Y

-9.3%

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R368.00

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3.6%

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13.6%

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R530.63

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7D

3.2%

1Y

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ANG

R374.93

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-2.4%

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SSW

R46.41

Sibanye Stillwater

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R164.31

Mr Price Group

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-7.4%

1Y

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R142.48

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5.4%

1Y

-15.1%

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R173.66

Standard Bank Group

7D

2.6%

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18.8%

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R3,500.35

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7D

4.6%

1Y

49.2%