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South African (JSE) Market Analysis & Valuation

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies202
  • 7D-1.5%
  • 3M10.4%
  • 1Y35.9%
  • YTD3.6%

Over the last 7 days, the market has dropped 1.5%, driven by a loss of 4.6% in the Materials sector. In contrast to the last week, the market is actually up 36% over the past year. As for the next few years, earnings are expected to grow by 20% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Feb 2026R8.5tR5.3tR555.4b9.5x15.2x1.6x
Tue, 30 Dec 2025R8.2tR5.4tR561.3b9.5x14.6x1.5x
Thu, 27 Nov 2025R7.9tR5.4tR570.6b9.4x13.8x1.4x
Sat, 25 Oct 2025R7.8tR5.5tR573.4b9.2x13.6x1.4x
Mon, 22 Sep 2025R7.5tR5.5tR572.3b9x13.1x1.4x
Wed, 20 Aug 2025R7.3tR5.5tR482.3b9.2x15x1.3x
Fri, 18 Jul 2025R7.0tR5.5tR474.1b8.2x14.8x1.3x
Sun, 15 Jun 2025R6.8tR5.5tR436.4b8.6x15.6x1.2x
Tue, 13 May 2025R6.6tR5.3tR421.8b8.8x15.7x1.2x
Thu, 10 Apr 2025R5.9tR5.4tR428.9b8x13.9x1.1x
Sat, 08 Mar 2025R6.4tR5.3tR417.3b9.2x15.4x1.2x
Mon, 03 Feb 2025R6.3tR5.3tR368.9b10x17x1.2x
Wed, 01 Jan 2025R6.2tR5.3tR369.9b10.2x16.8x1.2x
Fri, 29 Nov 2024R6.3tR5.3tR349.0b9.9x18x1.2x
Sun, 27 Oct 2024R6.4tR5.1tR339.6b10.5x18.8x1.2x
Tue, 24 Sep 2024R6.2tR5.2tR335.1b10x18.5x1.2x
Thu, 22 Aug 2024R6.2tR5.2tR351.1b9.5x17.6x1.2x
Sat, 20 Jul 2024R5.8tR5.2tR421.7b9.4x13.8x1.1x
Mon, 17 Jun 2024R5.6tR5.2tR434.7b8.6x12.8x1.1x
Wed, 15 May 2024R5.7tR5.3tR430.4b8.7x13.2x1.1x
Fri, 12 Apr 2024R5.5tR5.3tR432.2b8.7x12.8x1x
Sun, 10 Mar 2024R5.5tR5.3tR448.7b8.6x12.2x1x
Tue, 06 Feb 2024R5.6tR5.3tR536.3b9.1x10.4x1x
Thu, 04 Jan 2024R5.7tR5.4tR541.3b9.5x10.6x1x
Sat, 02 Dec 2023R5.6tR5.4tR545.3b9.1x10.3x1x
Mon, 30 Oct 2023R5.3tR5.5tR545.2b8.9x9.6x1x
Wed, 27 Sep 2023R5.5tR5.5tR551.2b9x10x1x
Fri, 25 Aug 2023R5.8tR5.4tR596.8b8.5x9.7x1.1x
Sun, 23 Jul 2023R6.0tR5.4tR654.4b8.5x9.1x1.1x
Tue, 20 Jun 2023R6.1tR5.4tR637.2b8.5x9.5x1.1x
Thu, 18 May 2023R5.9tR5.4tR668.3b8x8.8x1.1x
Sat, 15 Apr 2023R6.2tR5.3tR656.6b8.4x9.4x1.2x
Mon, 13 Mar 2023R6.1tR5.3tR647.5b8.5x9.3x1.1x
Wed, 08 Feb 2023R6.4tR5.2tR660.4b8.6x9.7x1.2x
Price to Earnings Ratio

9.7x


Total Market Cap: R6.4tTotal Earnings: R660.4bTotal Revenue: R5.2tTotal Market Cap vs Earnings and Revenue0%0%0%
South African Market Price to Earnings3Y Average 13.2x202420252026
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 15.3x which is higher than its 3-year average PE of 13.2x.
Past Earnings Growth
  • The earnings for South African listed companies have declined 5.7% 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 Market-1.53%
Telecom2.24%
Financials0.55%
Utilities0%0
Consumer Staples-0.30%
Real Estate-0.43%
Industrials-1.80%
Tech-1.81%
Consumer Discretionary-2.95%
Energy-3.14%
Healthcare-3.87%
Materials-4.62%
Sector PE
  • Investors favour the Materials sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 37.9% which is higher than its past year's earnings decline of 3.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Energy sector is expected to see its earnings decline by 6.2% 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
MTN MTN GroupR180.932.7%
+R8.7b		57.3%PE43.9xTelecom
VOD Vodacom GroupR150.562.4%
+R6.9b		37.0%PE15.4xTelecom
FSR FirstRandR92.541.2%
+R6.1b		21.4%PE12.3xFinancials
SBK Standard Bank GroupR298.731.0%
+R4.7b		37.1%PB1.7xFinancials
ABG Absa GroupR254.712.0%
+R4.2b		37.2%PB1.2xFinancials
See more

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